Newbie Skeptic - Posted by TimW

Posted by lyal on March 18, 2002 at 12:06:50:

Tim,
Great to hear you’re taking the first steps. Be sure to come back with any questions etc.
Looking forward to hearing about your first deal!
All the best, Lyal

Newbie Skeptic - Posted by TimW

Posted by TimW on March 15, 2002 at 11:07:59:

I’ve been looking into getting real estate. I ordered one book that talked about flipping but was to vague and difficult to understand.

So I came across Lonnie articles and it spark my attention and this post.

Concern1: Can you do the same thing with newer mobile home — that are now called manufactured homes?

Concern2: If I get this book (Wheels on deals) will it help me (newbie) from beginning to end in a clear format?

Concern3: I live in Oxford, NC. Very, small place. Will this work in smaller towns and cities?

Thanks in advance!

Re: Newbie Skeptic - Posted by Dave(WNC)

Posted by Dave(WNC) on March 18, 2002 at 10:25:57:

In my opinion, you just happened to be in a great state, NC, to do Lonnie deals. It’s really cheap to acquire them, little or no red tape with the gub’mint, and with so many people moving to this state, it should be an easy sell if bought and sold at the right price.

If you are worried about finding deals in Oxford, take the short 30-40 mile trip down to Durham or Wake Forest.

To calm your anxiety a tad, suppose you wanted to impress a date by cooking a special meal you have never in your life made before. You knew it was this person’s favorite dish so you wanted everything to be perfect. Wouldn’t you immediately go to the bookstore and scour the isles for the perfect cookbook? You would also take special care not to deviate from it’s specific instructions or the meal would be ruined and your chances of a second date with this person might be slimmer.

Buy the “Deals on Wheels” book. It is THE cookbook for success in this business. The idea is not only to just get a second date with success but to run away and live happily ever after with it!

Good luck

Dave

Re: Newbie Skeptic - Posted by TimW

Posted by TimW on March 15, 2002 at 12:23:23:

I would like to thank Karl and JohnT for there insight.

The reason for newer home: Where purely from reasearch. They don’t make homes on wheels anymore but these manufactured ones. So I assume that the wheel on deal books were obsolete.

But I do know of some mobile home places in my area — actually quite a few. They seem so run down though. Does that matter?

I was alreay on my way to purchasing these books but your comments gave me that little kick in the butt:-)

Thanks again

Re: Newbie Skeptic - Posted by Karl (Oh)

Posted by Karl (Oh) on March 15, 2002 at 11:53:48:

Concern 1: There is money to be made with newer homes. The techniques are just different. For example, you probably wouldn?t want to owner finance a new home. I work with both newer and older homes. There?s a lot more competition when selling newer ones, the financing is harder to work out, and the outlay of money is greater. The older homes are easier to do, there?s more buyers and sellers available, and the returns are a lot juicier. Is there a reason you would prefer newer homes? I think you?ll get over that right away when you learn more about this business.

Concern 2: Deals on Wheels is a very easy read, provides many example of deals, and will teach you everything you need to get started.

Concern 3: Are there any mobile home parks in your area? All of mine are out in the country. Enough said.

If you buy it and apply it, you?ll consider it the best $30 you?ve ever spent.

Karl Kleiner

Re: one newbie to another - Posted by JohnT(WA)

Posted by JohnT(WA) on March 15, 2002 at 11:47:05:

Haven’t done my first deal (did do several walk thrus last weekend though)but throwing 2 cents in anyway…

1)Don’t see why not but would take more "up front money"and that same amont of cash would do a lot more “less exspensive” :wink: deals.

2)The books have all the info but it isn’t in ABC 123 order… Lonnie tells stories…annecdotes that illustrate the facts. After reading both books closely I created my own sequence of actions in a seperate notebook and will fill in any holes on the next read.It’s all there though and if ya order both books ya get a 60 min tape…I’ve about wore it out…lol

3)If there are floppy boxes in your town that are in your price range…should work…I live in a town of 2500 and there are a few MH’s around but I cruise the 2 University towns 25 miles from here and look there. If I had to go up to Spokane 50 miles, I would.I got a list of all the mobile home parks in my county from the accesors office…saves some time…but once ya start looking…they seem to be everywhere…lol

Thats about it for me…good luck.

PS My spelink rilly stinkz…:wink:

Re: Newbie Skeptic - Posted by lyal

Posted by lyal on March 15, 2002 at 13:32:01:

Tim,

"They don’t make homes on wheels anymore"
Where did you hear that??? Absolutely not true. We have several mobile home dealerships in my relatively small city that have plenty of homes on wheels out front. Pick up a phone book and look in the yellow pages under “Mobile Homes or Manufactured Homes” and you’ll find them. Better yet do a yahoo or Bigbook search for your zip code. That’s also the first step in finding parks you can work in. Do a Bigbook search on mobile home parks (and variations) within 50 miles and you’ll be surprised how many you find. Then your research starts by “cruising the speed bumps” in those parks. Talk to some residents and get a feel for the place. If the homes are full of 10 and 12 wide homes, you probably shouldn’t plan on buying and selling there. If there is a mix of newer and older, it may well be a good “farm” area for you.
Get the books and it’ll fill in the details.
All the best, Lyal

PS: DOW (Deals on Wheels) is current material (recently updated)

Re: Newbie Skeptic - Posted by TimW

Posted by TimW on March 18, 2002 at 07:19:54:

Lyal

I’ve ordered both books and I’m awaiting arrival. I’ve done a search with yahoo & and phone book and there are plenty of parks near my area.

I will soon be going by there to get a feel. But wanted to thank you for you advise.

Thanks :slight_smile: