In CA…Yes, that is exactly what happens - Posted by Dirk Roach
Posted by Dirk Roach on February 21, 2000 at 21:41:24:
I cannot count the number of times that I have picked up used mobile homes from this type of situation.
In CA what happens most of the time is the mobile will go to auction, proceeds going to the park (to cover past due space rent).
The people are always long gone. and they DID NOT take their mobile with them, because if they couldn’t pay the space rent then they couldn’t pay the 3k to move and set up the home in another park. Also I doubt if any other parks would even take them.
So it goes to auction and then I sweep in and buy it up. The Parks know me and what I do, so then I simply sell the home to a nice buyer on payments (aka…Lonnie method) and enjoy some pretty nice cash flow, for almost nothing.
So everyone is happy.
Hope that helps,