Posted by Lisa’s Lane on March 17, 2001 at 20:55:35:
Robert,
Thanks for the input. Ya never know when you may need the note/document in the file.
Lisa
Lead paint disclosures on MH’s - Posted by Lisa’s Lane
Posted by Lisa’s Lane on March 10, 2001 at 15:50:58:
We have several SFH’s that we have wrapped on a 30 year lease option purchase. Now we will be buying a 40 unit MH park. Do Lead base paint disclosure forms need to be signed for MH’s? I know our SF houses have to be newer than 1978 or have the lead base paint form completed. We live in Wisconsin and also have purchased 5 old MH’s currently in other parks. We followed Lonnies book and buy them for $500 to $2,000 and sell them on a note for $3,000 to $6,900. Has worked out super. We wanted to make sure there wasn’t any other disclosure forms to be filled out on OLD MH’s as our are the OLDEST.
Also, we need to have an insurance policy for the MH Park. Is there a good company to use? Having a hard time getting quotes. Please advise.
Re: Lead paint disclosures on MH’s - Posted by RobertR
Posted by RobertR on March 14, 2001 at 20:24:01:
Lisa,
Yes, absolutely, I use the same lead paint disclosure forms you would use on any residential rental or sale. Why wouldn’t you just to cover the bases? It minimizes future liability. How 'bout that crazy tenant who says your property caused lead paint damage to the grandkids even when it did not or could not have done such. You may want to just cover your assets.
Cordially, RobertR
Re: Lead paint disclosures on MH’s - Posted by lonnie
Posted by lonnie on March 10, 2001 at 20:10:48:
Hi Lisa,
In my 15 years in the MH biz, I’ve never run into a lead paint problem in MH’s. In fact, I’ve never heard of one. Probably because there was very little paint of any kind in the older MH’s. Most every older MH I’ve seen had paneled walls. Unless it has been repainted, the only paint is on the ceiling. I’ve never heard of anyone requiring a lead paint disclosure on a MH, so I don’t think you should have a problem
Try American Modern Insurance Group, PO Box 5323, Cincinnati, OH 45201 for mobile home insurance, Or Foremost. Sorry, I don’t have a ph # for them, but check them out on the internet.
Best wishes, and congratulations on buying a “gold mine”.
Lonnie.