Getting around no contracts allowed parks - Posted by Bill M

Posted by Ernest Tew on June 05, 2000 at 06:52:57:

I don’t have enough details to say for sure, but it sounds like your plan could work as long as the park manager doesn’t know or care that you are setting it up that way to meet park requirements. It would be safer if you could discuss various alternatives with the park manager and find an arrangement you could agree on. Keep in mind that you may want to do business in the park again.

Getting around no contracts allowed parks - Posted by Bill M

Posted by Bill M on June 04, 2000 at 23:28:34:

Need some advice on selling a home in a park that doesn’t allow contracts or rentals. Got a nice ‘88 that I picked up for 2k. Market between 10-13k in this area. But if I have to sell for cash or Conseco type financing will of course limit my potential market. Could I not incorporate as “Horizon Capital” and have Horizon as the lien holder on the title, where my name is not on title but my companys’ would be.No questions then about contract sales. I would then be in the business of loaning money for mobile homes. Appreciate any feed back on this situation.
Bill M.

Re: Getting around no contracts allowed parks - Posted by Lonnie

Posted by Lonnie on June 05, 2000 at 08:08:28:

Hi Bill,

I assume you will be selling and carrying the paper. If so, you’re doing the same thing as the banks. Unfortunately, some park managers see this differently when an individual wants to do it. That’s why you must cultivate a good relationship with the PM.

The way you approach the PM, will often determine your results. Why not say you work with a company (your co.) that’s looking to expand into financing used MH’s that banks won’t finance. Then ask the PM if they could use your services. Ask if they have, or know of any homes in their park for sale. And, inform them of your “referral plan & fees.”

Many parks don’t allow rentals, L/O etc, and that’s probably why you’re having a problem with the PM. Let them know that it will be a sale, a title transfer (offer to give them a copy of title) insurance policy etc, to prove your point. Also, they must approve your buyers before you make the sale.

The PM is the most essential person to have on your team. That’s why you must spend some time with them, and give them a chance to get comfortable with you. Explain how you will not only work with them, but how you can help them. They have to see a benefit for them, rather than just a profit for you. Once you build up your creditability, and have a PM that will work with you, they will be calling you. But it does take time and patience to get to that point.

Think of it the same as meeting a pretty girl you want to date. You don’t just walk up, put your arm around her and say “Hey Baby, here I am. And have I got a deal for you.” What kind of response would an approach like that get you. (Well, I guess it would depend on the girl, of course.) But you get my point. So try to figure out what kind of an approach will work best on that particularly PM. Also, it’s a good idea to talk with the park residents and find out what makes the PM tick, before meeting the PM.

Good luck,


The name “Horizon Capital” could get you a VERY close look… - Posted by soapymac

Posted by soapymac on June 05, 2000 at 07:35:09:

by the bureaucracy that handles banking, finance and small loan companies in your state.

Do not misunderstand me here…I do understand what your intent is. You are addressing valid concerns. You’ve heard the phrase, “Don’t judge a book by it’s cover,” I know. Unfortunately, so has state government. They MAY hold that, in their eyes, you are acting as a finance COMPANY. As such, you must comply with state lending laws…which is what you DON’T want.

It may be money well invested to secure the services of a real estate attorney at this point. Don’t look at this as a cost item; rather, consider it an investment into increasing the size and scope of your business of investing.

My two cents, your mileage may vary.


Roy MacLean