MHP manager trying to help me but... - Posted by Dave_in_IN

Posted by Tony-VA on February 10, 2000 at 04:29:00:

I have the same problem. The PM in the park we do most of our deals took months to finally figure out that we only finance the homes that we buy. She still is a bit slow on what our target home is, but we remind her every other day or so.

Don’t worry about her confusion. Take her to lunch or sit down with her and go over the basics again. Don’t rely on your card to clarify it. To be honest, I don’t mind when people call and say that they would like to buy the MH on lot #X and want to know if we would finance it. I explain that we only finance homes that we own, but perhaps we could take a look at the home and see what we can do. This may be a means of selling a home to ready buyer. I would be upfront with them and explain that our business must make a profit and we will sell for higher than we buy. They understand this of course. If we can get the seller down to a lonnie deal sale, it works out because the buyer has aleady confided that they need financing, so they just want to know the payment terms. This works out for them because they would have otherwise been unable to buy the home. With a ready buyer, we can turn a quick sale with few if any holding costs. If this one home does not work out, we tell the buyer that we will find them a home and prequalify them for the type of home they want, the payment terms etc. Now we have a buyer before we have a home. With a list of these people, we simply go and buy the home just like they ordered.

I am convinced that frustration is the minds way of signaling that a creative solution is present. When you get frustrated, think “how can I turn this into something that will benefit me and them?” The money is in the answer.

Best Wishes For Your Success,


MHP manager trying to help me but… - Posted by Dave_in_IN

Posted by Dave_in_IN on February 09, 2000 at 18:48:35:

I completed my first Lonnie deal in Jan. Made a great return on investment. The park manager seemed to like the fact that I was able to turn around a MH that had been on the market for a long time. She wants to help me if I can assist some of her renters sell their MH’s. I very much want to stay on her “good-guy” list but she seems to think I will lend to B/C credit buyers of homes I have not bought at wholesale. My business card is modeled much after Lonnie’s. It says “used mobile homes bought, sold, financed”. I don’t want to be another Conseco and just lend money at 18%. Do any of you long time Lonnie-dealers have some suggestions on how I can better explain what I am doing and still stay in good with the PM