Posted by Dirk Roach on March 09, 2000 at 07:55:04:
I’m glad that you are sharing this extremely useful tip. Because it is good.
I’m set up with several title companies in my area and something I do is get a property profile for every park I deal with. In fact I update this information on a monthly basis.
The main reason is you never know if there is potential in buying the park. Delinquent Taxes, outstanding debt etc.
Also in dealing with a new park (new meaning you haven’t worked in that particular park before) having base info on an owner can be helpful.
Only once have I ever actually had to leap frog a park manager with an owner. This can be a tricky move. As in any business there is a chain of command, with should be respected. I mean a park owner (be it corporate or not) has a manager in place specifically to handle smaller concerns, such as tenant approval etc.
However if a manager is getting a little high and mighty, or abusing authorthity, often times simply mentioning a higher up (in their businesses structure) can do the trick.
It is card that I am hesitant to play. Most parks, although have a pretty specific tenant approval system in place. However they do allow a certain amount of decision to the park manager. Because of the very nature of their business.
I mean A and B credit folks are often times very desirable, but not nessicerily knocking down the mobile home parks doors. Especially if they have large down payments. If they have great credit and a pocket full of cash, for some reasons they seem to like houses as opposed to the older type mobile homes that we deal in. Go figure.
So you have to be careful in leap frogging PM’s. because if you tie their hands and force them to “play by the book” you may get in this tenant, but the twenty behind him, who may not be as desirable as him, you won’t.
Personally in dealing with PM’s I had much better success in becoming friends with the PM, and working with him/her for our mutual benefit.
Anyhow, your suggestion is good, because I have always found the more info you have on any type of deal the better off you are.