Major business opportunity… - Posted by CH-CA
Posted by CH-CA on May 13, 2000 at 17:40:00:
Okay, here is the situation. I had mentioned on the board that there was a guy I was going to meet who bought and sold MH. His niche is to buy homes (usually in bulk) and sell them mainly in Mexico, which sounded intriguing to me. I thought that maybe meeting him might open a door to make some business for myself. I was way off.
Turns out that his business is astronomical! He says that he looses out on 15 -20K of profit each month because he doesn’t have time for it. He sells to everyone imaginable, including the Mexican government. What’s even more amazing is that he wants to retire. It’s time for him, he says, that he has enough cash flow to go out and have fun. He offered to sell me the business and stay on as a consultant until I knew what I was doing.
I’m still flabbergasted, and the amount to sell is incredibly low. The reason for this is that there is relatively no inventory (he can’t keep homes long enough, and has people complaining because he doesn’t have enough homes). Another good thing is that he said I would start making money the 1st day. Of course, the downside to this is that I would have to quit my job and devote my time to this until I was set, and put a good chunk of change down.
I am taking his offer seriously and will draw up a list of questions that need to be answered. After all, it would cost me more to buy a 70-unit park here is San Diego. One problem that I have is my lack of experience in these things. I want to make sure that I have my bases covered and get the right information up front.
I know that this is an odd twist in dealing with mobiles, but I thought I would throw it out. Any suggestions as to what I should be concerned with? Anyone know a good lawyer? (: I will probably meet with him next weekend to go over my questions and concerns. And I will walk away if I don’t feel it is right for me.