Posted by Tony Colella on April 23, 2007 at 14:18:49:
The finance changes you were mentioned is what continues to increase Lonnie deals. Reading Deals On Wheels will explain in detail both how and why buyers need Lonnie dealers more than ever.
I too live in Western NC as do a number of the folks who post and lurk here. I no longer do Lonnie deals myself but I did them for several years. They are still a good, viable investment.
Lonnie will be speaking with us here in Asheville this August if you are able to attend. Not only will you meet him but you will also meet other investors doing Lonnie deals, buying parks and land/home packages in Western NC as well as the rest of the country.
I am new to the mobile business. I called and interviewed a few people who are in various aspects of the business, one retailer, one rehabber, one parts salesperson. They all stated that there have been major changes in the MH market in the last few years, mostly driven by finance. Sounds like Financing was too easy for a while and now it is hard for people to find, and retailers have some kind of an agreement with lenders that they have to take back repos and renovate them for resale?
I have a question for those who have been in this for a few years. What is the state of the market for Lonnie deals. Is this a good or bad cycle? What are your predictions for the next few years? I am in western NC.
Heath