Posted by rachel on April 10, 2007 at 18:07:22:
Thanks, Berno. Here seems to be a lot of people with mobile homes on
land. People are upsizing. Yet, some of the stuff the dealers have sent
me have been in really bad condition or they still are asking for too
much for the home. Plus, it has to be moved. Definitely will keep
looking and not give up. Thanks for your help!
-Rachel
How long did it take you to find your first deal? - Posted by rachel
Posted by rachel on April 08, 2007 at 19:48:12:
Hi all,
How long did it take you to find your first deal?
I started up the mobile home biz 2 months ago. Still looking for my first deal.
Been to every single mobile home park in my area, picked the ones I liked,
and have created a good rapport w/the park managers. Got signs and flyers
posted in those parks. Tracking a few w/the managers who are behind on lot
rent.
Also, I’ve established a rapport w/a few of the mobile home dealers in the
area. The leads are starting to come in. Most are out of the parameters - i.e.
one bedroom, need rent back, etc. But, still thinking I can find a deal w/the
ones that come in.
Got movers I’m working with. Had a few leads but most of them need a lot of
work and need to be moved. Haven’t found anything yet.
In any case, I feel like I’m doing the right things. In my state, I need to get my
license to be able to bid on the REOs. So, that’s my next step. Already signed
up for the class.
Any insight you have would help. Thanks for reading my post!
-Rachel
Re: How long did it take…? - Posted by Berno
Posted by Berno on April 09, 2007 at 09:00:06:
I still haven’t closed one…although I may be able to pick one up this week after I talk to the PM. It’s been about 7 months for me but I also do stick-builts (so I’m not on the couch!).
Have you tried running ads in the local free rag? Didn’t see that in your post so I just thought I’d ask.
Stay with it, and good luck!
-Berno
It took 2 yrs… - Posted by Dr B (OH)
Posted by Dr B (OH) on April 08, 2007 at 21:01:38:
to get out of my wing chair and face my fears. Found 1st deal on 1st day after visiting 7 parks.
Happy Trail(er)s,
Steve
Re: How long did it take…? - Posted by rachel
Posted by rachel on April 09, 2007 at 20:31:46:
Thanks, Berno. Yes, I have an ad in the paper. I’m generating leads but
they are just not deals. A lot of these people either owe too much on
the homes, or the dealers are sending me people who have really junky
homes that have to be moved off land. I am trying to stick to Lonnie’s
formula on finding the homes already in the park that I can buy for
cash. Have a few leads I’m working. I guess it just takes time as these
folks are still asking too high but every month their price gets lower.
I’ll keep at it. Thanks for your insight!
-Rachel
Re: It took 2 yrs… - Posted by rachel
Posted by rachel on April 09, 2007 at 20:32:32:
Thanks, Steve. I’ll keep my efforts focused on the parks. Appreciate your
input!
-Rachel
Re: How long did it take…? - Posted by Berno
Posted by Berno on April 10, 2007 at 09:55:12:
I know what you are talking about Rachel. I seriously started looking last August and have yet to buy a MoHo. Now, I haven’t been at it every week…the JOB, my daughter and rehabbing houses tends to eat up some time, but I have been keeping my eyes open. I think the area you are in plays a BIG part in things too. When I went to Asheville for bootcamp, every third hous was a mobile home. Here, there are parks here and there but it’s rare to see a mobile home on land…everything is a stick-built. I am trying to get some Lonnie Deals going to complement my buy-rehab-hold houses. We’ll get some deals…we just gotta keep at it!
-Berno