Posted by Philip on September 25, 2003 at 19:57:34:
I think it happens all the time. That might be her real reason and it might not.
I would find another park that is smaller and unaffiliated with a huge company, and has a few empty spots and an older owner or manager.
Keep trying,
Philip
MHP company turned me down! - Posted by Greg
Posted by Greg on September 25, 2003 at 15:36:55:
Bought Lonnie’s books, and went driving thru a park a couple of weekends ago. Found a couple who wanted to move and would sell me their older trailer for $1,000. Thought I was good to go.
Contacted the park management. Apparently it’s a large corporation, with dozens of parks across 3 states. I got thru to the CEO, who seemed skeptical. I sent her a two-page letter explaining what I wanted to do, a resume, and a bank statement showing lots of $ (which I have borrowed from credit cards at 0% and am earning 2% on). These were in response to the concerns she expressed in our conversation, like “how do I know who you are?” “How do I know you’ll pay lot rent when it’s due”, etc.
She just called back and said that, due to their past experiences with people who have wanted to do similar things, they wouldn’t agree to let me buy and sell in their parks. Since she wasn’t expressing any objection to ME, but because of what others have done, I just said ok and dropped it.
Question: Anyone else run into this? Did I just get unlucky on my first attempt or are a lot of parks this way?
Also: If anyone has been going around, selling people overpriced homes at usurious rates so that they never get out of under the debt, you’re screwing things up for the rest of us. This company owns several parks in my area, and we’re all “persona non grata” in all of them now.
Re: MHP company turned me down! - Posted by James Mc (IL)
Posted by James Mc (IL) on October 06, 2003 at 01:09:35:
Cash is king here.
If you can either get ahold of a large amount for a security deposit. - or - A letter of credit.
Start with one park that you can prove yourself in and offer SECURITY.
James Mc
Re: MHP company turned me down! - Posted by KenS(WV)
Posted by KenS(WV) on September 26, 2003 at 08:01:07:
Greg,
I had this happen to me in one park when I started. I acknowledged that others may not have done this right but for them not to judge me by that past experience. I convinced them to let me do one deal in their park as an experiment. If I messed up, I would never ask again to work in their park. They went for it!
I kept in constant contact with park management, paid the back lot rent on the home (they even knocked some off the price), and did EVERYTHING I said I would do. When it was all said and done, they knew they could trust me and I wasn’t out to make a dime at their expense. They are now just one of many parks that I work in in my area!
Just get your foot in the door and prove you are true to your word. You seem to have the financial backing and credentials to support a low risk test opportunity.
Good luck,
Ken
Can I do this? - Posted by Greg
Posted by Greg on September 25, 2003 at 22:20:57:
Got a message on my machine from the MH owner tonight. They have moved out and are anxious to sell. I suspect it being the 25th of the month may have something to do with it…lot rent is like $410 (Philadelphia suburbs).
What if I:
*Find a buyer
*Get buyer to fill out park’s application and get approved
*Buy MH from owner
*Don’t send in title to state
*Later the same day or next day, sell to buyer, have paperwork sent in with my lien on it
Or is this the illegal “skipping title” that Lonnie talks about?
Alternatively, I could have seller and buyer meet at the auto tag place. I was going to buy for $1K and sell for $3K, don’t know if I have the guts to do this on a direct transfer from seller to buyer…maybe I could charge a $500 finder’s fee.
Probably a waste of time. Doubt I can find a buyer and get them approved before the 1st anyway. Maybe I’m getting too hung up on this one deal.
Re: MHP company turned me down! - Posted by Lyal
Posted by Lyal on September 25, 2003 at 20:28:14:
Did they have a resident manager that you could talk to face-to-face?
Only thought is that the “finance company” approach might have worked better (“You do allow financed homes in the park don’t you??”)
Lyal