Posted by Bobby on October 30, 2000 at 19:36:21:
Hi Carey,
If only there a way to keep my wife from talking, (Shaking my head), I have not found the secret in keeping here quiet.
and you all know I don’t talk much either,as I am kinda shy…lol.
Bobby
Help!!, maybe my first deal. - Posted by Bobby
Posted by Bobby on October 28, 2000 at 17:09:43:
Hi all,
I know most all of you are at the workshop…but I have a chance for my first deal…here it is:
A woman has a MH, asking $5,200, (1980), 14x 70. All ready on lot and can stay or be moved. My wife, the smart women that she is, took the call. As I left message for lady to call us. My wife said what is lowest cash price she would take for MH? The Woman said, $4,800 because remodeled and only needs carpet tighten up, I have not seen MH yet. The my wife said she would have to talk to her husband, hey, that’s me.
Okay, so now should I go see MH. Do a, “Squirrel Dog” and see if price should come down by lady, question is at what price should I buy MH is it’s in good condition? $1,000; $2,000; $3,000; $4,000, etc.?
We even may have a buyer lined up as our test ad came out today and we got a call from a real real motived buyer.
Lot rents go for $180-$225 in this area of MH.
I’m so nervous, I’ve been scanning, Lonnie’s book, Don’t even know what to do with forms in back of book as I have never gone this far before to a sale.
I just pay cash for the MH. and then as buyer to look at, right…then have her get approval from Park Manager, then sell with wtih Purchase Agreement.
I don’t what to do, as I am sor excited and nervous…almost my first deal…can someone give me some input please.
Bobby
Re: Help!!, maybe my first deal. - Posted by Dan
Posted by Dan on October 30, 2000 at 23:09:02:
What is a “Squirrel Dog”?? I have ordered Lonnie’s books, and in the meantime I’m curious!!
Re: Help!!, maybe my first deal. - Posted by Carey_PA
Posted by Carey_PA on October 29, 2000 at 13:42:37:
Bobby,
First of all, calm down! You’re doing just fine, just calm down and you WILL get your first deal accomplished.
I’m assuming you already spoke with the park manager yourself about you buying this particular home, right?
I hope so, if not do so immediately. My advice is going to be based on the assumption that you’ve already talked to the park manager yourself about the home and you buying it.
So, now your wife already got the price down to $4,800. Go do the squirrel dog thing, make sure you take special notice to all the PROBLEMS that the home has…and you know give your wife “the look” about these problems, vice versa. (I’ve had someone tell me that their home was in great shape,and well it was in really good condition, but trust me I found things wrong that they didn’t mention)
And hey what if you don’t find nothing else wrong, well that’s ok too. Ask the woman again, what is the best all cash price you can give me IF we settle tomorrow? And she’ll say $4,800. BE QUIET, don’t say a word. Just look at her, then look at your wife, and then ask the woman, Is that really the best you can do?
BE QUIET again and let her anwer you. IF the answer is still $4,800, then remind her that you are a cash buyer and you will settle tomorrow therefore relieving her from her problem immediately!
If she still says $4,800 then you can do 1 of 2 things:
- Say I’m sorry ma’am but that’s a little more than I’m willing to pay, ESPECIALLY since I’m willing to give you all cash tomorrow and walk away. Leave her your name and number and tell her to call you if she changes her mind. (She’ll call you, I guarantee but you can always call her back to check on her as well, keep looking at her ad in the paper too)
or 2) you can give her the $4,800 for the home. Now, I think that personally is a little too much BUT if you’re already got a buyer lined up and you know that you can get a decent amount of money for the home, then I say go for it. But hey, if you’re going to sell the home for $6K or something like that, don’t spend $4.8k on the home, got it? Hopefully, you will be able to get a reasonable downpayment too, to put a dent into that $4.8k you put out.
Bobby, there is no need to get all excited, you DO NOT have to take this deal IF you think that $4,800 is too much for the home and you don’t think you can get a good price for it. You have to look and see what other homes in your area are selling for, mostly the bigger mobile home places will be selling homes like that for a whole lot of money and you can sell it cheaper than they would and still make an exceptional profit. IF you buy for $4.8K, sell for at least $9.6K, at least. And remember to say OWNER will finance in your ad! Hey, even if you buy the home for $2k, sell it for $9.6k 
Just an idea on how much I spent on mobile homes in my area: 1)$2,000 2)$3,000 3)$4,250 (dont’ ask why I paid so much, I’m still mad about it lol) 4) Free and I’m working on another one and it will be 5) Free.
So there you have it, I kinda made a personal pact with myself never to spend more than $4,500 on a mobile home and of course I certainly don’t try to pay that much at all.
My first rule of thumb for me personally as far as how much to offer someone is I take what they are asking for ($5,200) and I cut it in half. Then I go from there. That is the number I have in my head though, I don’t know if that’s the right way or the wrong way to do it, but that’s just what I do…
Ok Bobby, go get yourself a deal…I hope some of my rambling was worth while…
Good Luck,
CAREY
Re: Help!!, maybe my first deal. - Posted by Bobby
Posted by Bobby on October 31, 2000 at 14:55:45:
Hi,
In Lonnie’s book, The, “Squirrel Dog” is like my wife and I going to see a MH. I talk to the owner of the MH while my wife, The good squirrel dog that she is, walks to parts of the MH and finds things in repair, or broken that need fixing…When I walk over to see what she is talking about with owner, my wife, the squirrel dog that she is moves on to fine out more problems with MH, In Lonnie’s book he had a squirrel dog that hunted squirrels,and treed a squirrel. We are not treeing a squirrel we are treeing problems with MH to get seller to lower the price of MH…if I am not explaining this right someone jump in and explain it better.
Thanks,
Bobby
P.S. you will find Lonnie’s book worth while… as everyone on this newsgroup can tell ya I waited with my nose up agaqinst the living room glass waiting everyday for the mail person to deliver it.
Squirrel Dog - Posted by Judy-PA
Posted by Judy-PA on October 31, 2000 at 05:54:50:
Dan,
I’m not an expert, but I can answer that for you. Lonnie uses his wife as his “squirrel dog”. As he is talking to the owner, Joanne looks around the home for problems. When she finds one, she says “Oh no! Lonnie, look at this whole in the floor!”. Lonnie frowns at the owner and says something like “Wow! Were you aware of that?”. While Lonnie and the owner are talking about that problem, Joanne goes on to the next problem. When they are done, the owner knows that the home is not worth as much as they are asking for because Lonnie and Joanne know of all these problems that the owner didn’t mention to them. He calls it “squirrel dog” because it reminded him of what his dog would do for him when hunting for squirrels. The dog would chase a sqirrel up a tree. While Lonnie was working on that squirrel, his dog was on to the next one.
Hope that helps!
Re: Help!!, maybe my first deal. - Posted by Bobby
Posted by Bobby on October 29, 2000 at 15:43:10:
Thanks Carey,
Okay, I’m settled down…at least my heart rate is back to normal…I’m going to take it slow.
No I have not talked to Park Manager yet…I will, tomorrow, as today is Sunday.
Again, thanks for the nice long email I learned alot from it…
Bobby
I’m with Carey and Rhonda here, - Posted by Dirk Roach
Posted by Dirk Roach on October 30, 2000 at 11:25:43:
I usually bring cash. A big Pile of fifties.
I don’t suggest just anyone doing this in any park, do to safety. However I’m a big guy (wide not tall) and usually have someone with me, (my squire dog, is usually someone on my crew).
I go through the motions ask the big question. And then pull out the money, the amount that I want to spend. I say this is what I’ve got. And then I pull a Carey and shut my mouth. I BE QUIET. Carey I really love that.
Anyhow the big pile of money says a lot.
this technique has worked well for me.
Of course all my ducks are lined up before hand, regarding the PM, back space rent, title search etc.
Anyhow
Hope that helps
Dirk
Re: Help!!, maybe my first deal. - Posted by Rhonda - TX
Posted by Rhonda - TX on October 29, 2000 at 17:45:20:
Hi Bobby,
You’ve just received excellent advice. And I would reitterate (sp) what Carey said about talking to the pm first. NEVER, EVER take the sellers word for it. I’ve had sellers say “Oh sure, it can stay” when the pm said, “absolutely not - that thing has to go!”
Good Luck - and glad you are calmed down now.
Rhonda - TX
Re: I’m with Carey and Rhonda here, - Posted by Rhonda - TX
Posted by Rhonda - TX on October 30, 2000 at 17:09:30:
Dirk - I just love that technique, however, I just don’t think I could get away with it. Any females out there doing something similar?
Rhonda - TX
Re: I’m with Carey and Rhonda here, - Posted by Bobby
Posted by Bobby on October 30, 2000 at 11:59:09:
Hi Dirk,
You idea sounds good, but I am a little guy and I have not seen a $20.00, let alone a $50.00 since I got married 25 years ago.
If my wife finds out I had a $5.00 bill she would say were did I get it from?
I don need to check with Park Manage, and title as tomorrow is the big day, the woman wants us to come look at the MH.
I’ll be the squrriel dog, as my wife really likes to talk, believe me she does. It’s good thing my hearing is going bad, maybe to much noise over the last 25 years!
I’ll let everyone know how it goes…We won’t take the good car, like we have a choice in the matter, I won’t shave nor take a bath, and see that works…okay, I’m just kidding, I’ll shave anyway.
Thanks for all your help.
I’ll either come home tomorrow hanging my head low, with a bouting lip and hands in pockets, kicking dirt with them shoe, or fly like a bird with joy with my first deal.
I bet you will all be glad when I get my first deal under my belt. to shut me up…lol.
Wish me luck all…at any rate I hope to post what goes down and maybe it will help someone if I sucess or fail or if it turns out to be a bad deal.
Best as usual to all,
Bobby
Re: Help!!, maybe my first deal. - Posted by Bobby
Posted by Bobby on October 29, 2000 at 19:25:23:
Hi Rhonda,
I am calmed down now…I know I have to talk to PM and see what the story is.
I’m going to try what, Carey wrote in the post above. I’m almost as excited as the day my copy of, Deals on Wheels came to house. and you remember how I was for that…lol.
Take care Rhonda, talk to ya in the email soon.
Bobby-NC
How have you been? Email when you can.
HEY BOBBY!! - Posted by Carey_PA
Posted by Carey_PA on October 30, 2000 at 19:08:47:
I know you said your wife likes to talk, but remember to tell her to BE QUIET after asking the big questions
GOOD LUCK buddy…
CAREY