Newbies Unite! possible Lonnie deal... - Posted by Duane


#1

Posted by Dirk Roach on October 29, 1998 at 18:02:56:

Thanks for insight David. I think that your right, me no i’m not really interested in converting older homes into offices, I was just trying to examine the above situation from various angles. But i think that your right JP and Lonnie can’t be beat.


#2

Newbies Unite! possible Lonnie deal… - Posted by Duane

Posted by Duane on October 28, 1998 at 19:49:48:

Actually, I’m hoping some of the experienced folks will chime in, but, I think we could all benefit from reading each others trials and errors.

Lonnie typically says stay away from moving a m.h. because of the extra cost, but check this out…

1970 something 3 br/1 ba 14x70 sitting in a storage lot, asking $1000, it has been there since January, (I have been watching it since about April). I originally spoke with the owner who was paying $75/mo to store it. He gave it to the storage lot owner to pay off the storage fee. So the lot owner is now asking $1000 for it. I am estimating…

Purchase at $500.00

Transportation $1,200.00

Repair $2,055.50 (this includes; carpet, paneling, a few ceiling panels, linoleum, interior/exterior paint etc. basically, the whole thing needs to be redone)

Total Expense $3,780.50

…try for 100% return plus $1000 (finance fee) equates to a suggested retail price of approx. $8500

This seems worth it (eventhough there is a LOT of work to do). What do you all think?


#3

Re: Newbies Unite! possible Lonnie deal… - Posted by Dirk Roach

Posted by Dirk Roach on October 29, 1998 at 13:02:47:

Ok Duane, a few thoughts. I have to agree with everyone in reguards to moving can be a pain, although I haven’t done it personally I have known a lot of people who have and have spoken to a couple of movers. They told me the biggest problem with the older ones is that they are pretty shakey and and a lot of stuff falls apart etc. The best way they told me was to get all your appliances and weight items out of it before you move it to make it as light as possible.
I think that there could be a deal here, but a flip. If you found someone who say had some land and wanted to put a very affordable home on it, you have a MH you could sell them, (as is where is) for like 2k and make yourself a grand on the deal and not have to be bothered with any of it. Also someone (like a young couple) who is building a house out somewhere. I’m sure that they would like something roomy to live in at the building site you know, while they build their dream home. Also someone might be interested in making a mobile office out of it, heck you can a grand and maybe with a couple of phone calls double your money.

Just a couple thoughts,

Dirk Roach


#4

Why Beat Out Your Brains When… - Posted by J.P. Vaughan

Posted by J.P. Vaughan on October 29, 1998 at 08:49:58:

Duane,

This is NOT a good deal. You should be able to find
decent MHs alrady in a park for much less money, much
less work, and much MORE profit.

Lonnie tells beginners NOT to move MHs for a reason.

At Lonnie’s workshop, I met a couple who has done 18
Lonnie Deals this year. Here’s what they told me:

“All we did was follow Lonnie’s directions
as laid out in the books.”

The used MH business is a simple business, Duane. Why
beat out your brains and take such a high risk when it
isn’t necessary?

JPV


#5

Your forgeting… - Posted by David Alexander

Posted by David Alexander on October 29, 1998 at 24:26:35:

Electrical hookup 325, Airconditioning hookup 85,
Gas hookup 275, setup(blocking and leveling) 150,
Tie Downs, Blocks, etc. 250, Advertising 25, Lot Rent
175\month, Lot deposit 100, This is a total of 1385
that your missing.

Does it need to be torn down before it’s moved?
Does it have wheels and axles?(Movers charge extra)
Is it in good enough condition to be moved.
Unfortunately, you won’t know till its moved.

I’d rather put MY money back in the Stock Market
than move another old model Mobile Home.

David Alexander


#6

Re: Newbies Unite! possible Lonnie deal… - Posted by phil fernandez

Posted by phil fernandez on October 28, 1998 at 20:41:41:

Duane,

Questions you need answers too. Where are you going to move the mobile to. Many parks do not accept older homes. Make sure you have a final destination tied down before you buy.

Also many older mobiles are not road worthy. I have heard stories of old ones actually falling apart when transported.


#7

Been there done that - Posted by David Alexander

Posted by David Alexander on October 29, 1998 at 15:38:36:

Dirk,

Not gonna say you couldn’t find someone who wants a mobile office, But, back in the summer We tried to sell these older mobiles to companies, they just weren’t interested. The big companies lease these offices out,
deliver and pick up. Listen to JP, Stick to the Lonnie deals the way Lonnie says. There’s a point when
we listen, but don’t hear. Experience taught me this the hard way. I want to learn and replicate from people who have been there done that. No building better mousetraps here.

David Alexander


#8

Re: Newbies Unite! possible Lonnie deal… - Posted by Susan N

Posted by Susan N on October 28, 1998 at 22:52:59:

There are a lot of hidden expenses when moving homes, such as plumbing, electrical, gas lines, having furnace OK’d, etc. You might have to pay these as buyer wouldn’t have enough money to pay down payment plus all this and utility deposits, etc. I have had a lot of experience with moving and also experienced the “in-transport disintegration” mentioned above. But this was a LONG move. Check for rotted support wood under the siding (if metal). And costs for fix-up can rapidly spiral out of control. But, someone awhile back gave an example of a mover such as this, i.e. $500 down, will deliver to your lot, etc. Buyer paid for the block, level and tie-down, which is often more expensive than the actual move.