Re: Looking for win,win,win(long) - Posted by Jeff-oh
Posted by Jeff-oh on June 01, 2006 at 08:34:39:
I do not follow your math.
Owner wants $650. $204 in Taxes $300 in lot rent. And $200 finders fee. = $1300.00
Another question what about future lot rent? Is the park going to charge you while you rehab this “eyesore” in their park? Sounds like you are taking on all the risk while they get all their money and loose a problem (i.e. Abandoned title)
I would go after it this way.
Talk with park. Inform them on how you are going to help them. i.e.
- keeping a home in their park that will pay when a new tennant is in.
- Turning an eyesore into a good livable home.
- Removing a health hazzard (sewer running out on ground) that may get the attention of the county health commission.
- providing free advertizing for their park.
- bringing in a godd qualified paying tennant.
and most imeediat and costly
- saving them from a costly (in time and $$$) eviction
- saving them from an even more costly abandoned title court hearing)
You are providing a lot of value to this park, How much are they willing to play ball?
At the least, I would go for, waiver of the back lot rent, and free lot rent while you are actively upgrading and marketing the home. (If they are not willing to give an indefinite time frame make sure you negociate ample time)
As for player A, Let her get motivated. For her to get the title into her name she must pay the taxes first. (here in Oh) Tell her you give her $300 cash if she hands you the title and will sign 5 POA’s so you can get the title into your name. (you may only need 2 but an extra one or two is always helpful) Just make sure the previous owner has signed the title and his signature is notorized. If it is not, this this title is invalid. Or you will give her $600 cash if she hands you a clean title.
If the other two parties are unwilling to cooperate then let the situation stew a little let the park start eviction proceedings.
Let them go through the whole process and have an old ugly home sitting in their park for another 6 months to a year. All the time letting them know you are there to help them turn this non-performer into a performer. And if they never come around… let them pay (in lost income) for their short sightedness.