Posted by Bernd Hanak on September 27, 2011 at 08:37:53:
More power to you, Darrel ! You are a producer and an inspiration for all of us. Age is relative; it is attitude and performance that make all the difference.
Old Smokey - Posted by Darrel Smith
Posted by Darrel Smith on September 26, 2011 at 23:57:00:
I have been out of touch with this forum for a while. I have been busy doing exactly what you guys have been preaching for years. Three years ago I was terrified to “do” my first deal. I finally pulled the trigger when a park owner gave me a trailer that had been sitting for more than a year after a fire. I would NEVER have attempted this project if I had not found you people----thank you!
The following is in no way an attempt to pat myself on the back. I have worked hard but did nothing that anyone could not do. I have now owned 26 trailers in four parks. Three park managers love me but the other is a real crazy (one trailer no more).
My message is that the the info put forth on this forum and in the available books is STILL valid. If you are considering doing a deal-----educate yourself, educate yourself and get off the couch.
Allow me to tell you three stories just to show that “It can still be done”.
Old Smokey
My first deal was much more work than I ever could imagined. Smoke clean up is awful! We did it and in the end we had about $5000 in a 14x70. It was sold for $11000 on a four year contract. It was paid off in three years then they bought a double wide after about three months.
They made a verbal agreement to sell “Old Smokey” for $9000 but that deal turned into a nasty yelling event. Everyone was angry!!! The owners just wanted OUT! In short, they begged me to buy it back for $2700. I sold it to the same buyer the same day for $9000. Everyone was VERY happy----especially me.
Number 53
A 12x50 had been abandoned for about 18 months. I bought it at the tax sale for about $68. I spent a total of $3800 and now have a young couple in residence (rental) who are very happy and want to buy. The monthly net is about $240----you figure out the return.
Number 1
As I was finishing the rehab on a three bed room a lady with two children wanted it because her family was out growing her 10x50. I moved her into mine and bought hers for $1500 (too much). She is thrilled! I have a single man who wants the small trailer. The rent will net me about $210 per month. Again you figure the return on investment.
The basic principles that you guys teach still work. Thank you so much!
Darrel
DinSD
Oh, Just for fun I am 71 years old. I don,t feel old!
Re: Old Smokey - Posted by Tony Colella
Posted by Tony Colella on September 27, 2011 at 08:56:45:
Darrel congrats on putting education to work and reaping the rewards!
Thanks for sharing a few of your deals, it helps motivate us all.
Tony