Need Help on MH Purchase - Posted by Ron

Posted by chris on November 21, 2000 at 08:44:23:

I’m with tony,your excitment is wonderful,BUT,park managers come first.Then talk deals,and once you read lonnie’s book,you will learn that you do not make the offer,let the owner receive his asking price.This last sentence may sound strange,but you will understand later.

Need Help on MH Purchase - Posted by Ron

Posted by Ron on November 20, 2000 at 18:52:54:

I ordered Lonnie’s book but probably won’t receive it until after Thanksgiving and as such, I am at loss as to how to handle my first deal.

I have located and made an offer on a 1978 Skyline,
14 X 70, 2/2, c/h, c/a, two vehicle car port, washer/dryer, ranger/ref, kingsize bed (good condition), two large dressers, curtains, drapes, fairly clean, no real work to do.

Owner had to leave town and go to Montana to help his brother-in-law with his Motel business and wants to get rid of this in a hurry. He was asking $3,000.00, I have him down to $2,250.00 cash, however, as any of us would do, I would like to get a little lower on the price, but by the same, I don’t want to scare him off. The home has been vacant two (2) weeks and there has been no vandalism as yet. It is set up in a fairly good park, nothing to howl about, but one that could make a little profit if I can find the right buyers.

I have not talked with the Park Manager as yet as this deal came about faster than I ever expected and I am at loss right now just what to do and what to say, to both the seller and the Park Manager. Any help would be greatly appreciated.

Thanking you in advance for you input,

Ron

Re: Need Help on MH Purchase - Posted by Carlene (Maine)

Posted by Carlene (Maine) on November 21, 2000 at 12:20:00:

I agree wholeheartedly with Tony and Chris. I lost two good deals because I did not go to the park owner first and when I did he refused to let me play in his park. It is better to let the deal slip by than to have to backpeddle out of it when you find out that the park manager/owner won’t budge. (He may want to get rid of the older homes and you’d be stuck with a move.)
carlene
Good luck!

Re: Need Help on MH Purchase - Posted by Tony-VA

Posted by Tony-VA on November 21, 2000 at 04:27:17:

This is a common problem. Your enthusiasm is understandible, however, you have jumped in before you have obtained the education.

All of these answers are in Lonnie’s books. Read them first before you invest. It will protect you.

Don’t panick that you will loose this great deal. If it is vacant, and you wait a week or two, that lot rent will come rolling around again and the motivation of the seller will increase. There will be many, many deals so do not think that you are missing out. It is better to miss out on one deal than to make a mistake and buy wrong.

For starters, you are braking the cardinal rule: ALWAYS SPEAK TO THE PARK MANAGER FIRST.

You may find that you have no deal because the manager won’t let you play in that park. On the other hand, you may find that you get a great deal of info from the park manager and find out that you can really by this home for much less.

DO NOT GO TO THE MANAGER’S OFFICE WITHOUT first reading Lonnie’s books. He will put you in the driver’s seat. He will relay the experience you need to set up this business correctly.

Enthusiasm is great but start your business off on the right foot. Lonnie’s books provide you what you need and can be read in a short period of time. In the meanwhile, your seller will simply become more motivated.

Best Wishes,

Tony-VA

Re: Need Help on MH Purchase - Posted by Robert (Houston, Tx)

Posted by Robert (Houston, Tx) on November 21, 2000 at 15:15:32:

When venturing into a new park, talk to the park residents first. You will be suprised at what you will learn. They know the PM very well and can inform you of their ‘hot buttons’, so to speak. They will also give information on the homes in the park. How long the home has been for sale, why that resident is moving, etc., that the moving resident may not have told the PM (for whaterver reason). Then approach the PM with these things in mind. Adjust your comments accordingly. The outcome of the conversation will have the potential of being much more benefitial depending on your ablility to communicate within the parameters that you have set for yourself based on what you have learned from the park residents. The PM will be able to fill you in on the facts of any homes for sale within the park. Compare this information to what you have learned from the residents to get a better picture of the overall needs of the PM and the moving resident in order to structure the most profitable deal for yourself.

Good 'luck’
Robert