Re: Mobile Homes - Posted by Tony-VA
Posted by Tony-VA on April 20, 2000 at 13:32:38:
The best advice I can give is for you to wait for the books. They will contain and explain the different issues you have brought up. I would suggest you not start any negotiation with sellers or park managers until you have read the books. You need the education and experience these books represent. Lonnie does a fantastic job of helping us avoid the pitfalls.
Until they arrive, keep in mind that we are dealing with motivated sellers. 5% discount is not a motivated seller. These sellers are sellers who would LIKE to sell but don’t necessarily NEED to sell.
We buy from people who NEED to sell. That is how we make our profits…going into the deal.
As for the park managers. They have a very big say about you buying and selling in their parks. They have a great impact on your business in various ways. The best deals I do come from park manager’s because they know who the motivated sellers are. They know what is motivating these sellers. Most of the people the park managers refer you to will not even have posted a For Sale sign in the window. You would never have know about this home if not for the park manager. The park manager’s will also hold you accountable as a home owner or lien holder. Sure you can buy a home in their park, but that does not mean it can stay in the park. Chances are, if you have not already established a good rapport with the Park Manager, they won’t accept your business plan and can require you to move the home. This is going to cost several thousand dollars to tear down, move and set up.
As stated above, we make our money going into these deals. An unexpected couple grand for moving expenses could easily sink a good deal not to mention a 5% discount deal.
Lonnie will cover all of this in detail and put you in the driver’s seat. Wait for his material. It will save you great heartache and expense. I am also willing to hazard a guess that when you get done with his book, some of those deals won’t look like deals any longer.
Hang in there, they don’t take long to arrive.