Note Defaults- Michigan - Posted by tim

Posted by Blane (MI) on July 05, 2002 at 20:41:04:


Not trying to slam you or anything, but there’s a lot more things to be proactive about at the beginning of this business than note defaults. Finding workable parks, developing relationships w/PM’s, finding the deals, who’s gonna do any repairs, etc. etc. etc.

I’ve been doing this 2 years in MI and only had 1 default, and I just up and resold the place cheap for cash and got it out of my hair. If you have decent homes in decent parks and can screen your potential buyers, your defaults should be minimal. Spend your time thinking about finding those great deals, creating those great notes and bragging to us about your great yields. That’s what I wanna hear about. Good luck.


Note Defaults- Michigan - Posted by tim

Posted by tim on July 03, 2002 at 11:18:56:

This hasn’t happened to me yet, just finished DOW’s, but want to be proactive. Based on Lonnie’s advice, I plan on performing my due diligence with respect to resolving Note payment defaults with Michigan.

I would also appreciate some insight regarding this from the forum, including Michigan MH investors. Thank you in advance.