You blew the lid off Lonnie Deals - Posted by Karl (Oh)
Posted by Karl (Oh) on April 09, 2006 at 13:26:47:
I’m not sure what point you’re trying to make. Yes, we buy homes cheap for cash from motivated sellers, and sell them for considerably more by offering financing to the credit challenged. I don’t think we necessarily sell them for more than they are worth. But the private financing definitely adds value. I sell homes at “full retail” with a minimum downpayment, and discount off of that for bigger downpayments, or all cash. But even cash sales can make nice money, if you buy the homes right.
I would love to get every home back right before the loan paid off. Thats no secret. Who wouldn’t? A lot of my homes come back to me, sometime sooner, sometimes later, and it usually makes me more money the second, third, fourth time around. You’re absolutely right, mobile homes are just a vehicle for making money. Isn’t that the goal of any business?
I’m not sure if you had a question, or were just figuring out a beautiful part of this business. But you’ve got a good handle on what we do here.