Posted by David Alexander on February 29, 2000 at 21:13:27:
I guess what one person sees as a problem another sees sees as money.
Costly repairs after the people leave. Most of the homes after you get them back are in better shape, not worse. Occasionally you get one back that needs some more work, but to fix a MH up is to say the least not very costly. You also should be selling them based on two prices which leads me to wonder if you have ever read Lonnies books. You should on an As Is price and a fixed up price.
As far as the negative rent, yeah it happens and you just have to make sure your in good with park managers so that you resell them fast and get another down payment to cover your costs.
It’s hard to believe that your complaining about a system that often creates 100% yields or better.
As far as saturated markets, come on. More MH’s are being built everyday, which means that there will always be more homes to buy and affordable is harder and harder to come buy.
How are you marketing to find homes?
Acquiring a park, hey I’m with you, but dont discount doing those little note deals.