Its all falling down around me! - Posted by Karl (OH)
Posted by Karl (OH) on November 21, 2000 at 20:07:15:
John Hyre - you can stop giving me a hard time now. I finally had a payor miss a payment.
Until now I?ve never had a late payment from any of my buyers. I only have 7 notes, but everyone has always paid on time. John thinks I?m living in fantasyland. I?m sure he was waiting for reality to show up at my trailer park one day.
The folks who missed the payment are being evicted from the park after one month. It was a trailer the PM gave me, was full of garbage and roaches, broken furniture, busted front door, a big hole in the wall where an A/C unit used to be, a fridge full of food from forever ago, etc. An extremely questionable couple called me with horrible credit, wanted the cheapest home I had. I told them where this trailer was, said the front door was open, go check it out. They loved it, garbage and all. Oh, my God.
I sold it to them for $3k, $300 down, $2700 on a note. They paid the park deposit and first month?s lot rent and the $300 downpayment, then missed Nov lot rent, and are now overdue on their first payment to me. The park is kicking them out, I?ll just wait until they?re gone to take the home back. It can?t be in any worse condition than it was when they bought it. Hey, I?m up $300!