lonnie deals in senior parks - Posted by andy weissman

Posted by Rodney (AZ) on June 18, 1999 at 22:11:14:

Amen, brother! Among the many things that I’ve learned in my long career (3 months!), to shy away from the senior parks ranks number one (followed closely by avoiding the 1 bedroom homes)! I was warned by a CREO comrade at the convention, but I had to learn the hard way. My “senior” home was the first that I bought, and the last that I sold.

Still made money, though, but the anxiety was intense!


lonnie deals in senior parks - Posted by andy weissman

Posted by andy weissman on June 17, 1999 at 10:19:41:


MH prices in my area are out of sight. The only good deals I’ve come across so far are in 55+ parks. The other day a 20x40 was offered at $6500, when I asked what best price was I was quoted $4500 without negotiations.

I have just ordered Making Deals after having read Deals on Wheels. Does anyone have any experience with MH’s in senior parks. Thanks Dirk for your input.


Re: lonnie deals in senior parks - Posted by Dirk Roach

Posted by Dirk Roach on June 19, 1999 at 09:01:00:

One avenue in dealing with Senior Parks is a scenario which I just just did with one around here. It was a Park owned, little 2 bedroom home. The park called me and wanted to know if I could do something with it. They wanted it to remain in the park, space rent is high in this particular park around 500 hundred a month.
I saw an opportunity here! I asked them how much they wanted for the Mobile Home. I was told $1500.00. again more opportunity. As I see $1500.00 as a very good deal in my area I only negotiated them down to $1250 (just for practice and principal). Then I did not buy it for that. I tied it up with a 6 month option. In that option I put a clause which they agreed on that I would not be charged any space rent. I am allowed to put my signs in the windows and do my thing with the home.
Your probably asking why I went for this deal.
Well first I CYA’ed it or actually CMA. I’m not on the hook for anything and have complete control over the deal with NO money out of pocket. Occasionally I do get calls from folks who are looking for senior parks. These folks are sick of hearing big wheels and that’s what they want. However let me state this. I have quite an advertising mechanism in place. And do get a lot of calls to support my buyers lists. If I were just starting out though I would have probably passed on this deal. In fact realistically it would not have even come my way. As I did not seek this out (they called me) and the only reason that they did is they know me by reputation.
So heed the advice Senior Parks can be tricky if you don’t have everything in place.

Re: lonnie deals in senior parks - Posted by Tim_AZ

Posted by Tim_AZ on June 18, 1999 at 18:31:21:

What I’ve found is, there is a reason why the 55+ park MH prices are lower. They’re hard to sell! It is much more difficult to find a buyer and get them qualified for the park. I went and looked at a very nice 14x70 in a senior park, perfect condition, with an old lady living there who kept it immaculate. She was asking $3500, and probably would have taken $1500. But I learned from my friends at CRE online not to start off in 55+ parks. So I backed out.

Yes, they are cheaper in 55+ parks, but there is a reason for that. Try to stay in family parks for now.