PM won't sell in 55+ park - Posted by Mitchell (CA)

Posted by The55+GuyFromAZ on October 21, 2003 at 17:22:15:

Ever notice how a small man resorts to insults in an attempt to prove his point or his worth?

Grow up or shut up.

PM won’t sell in 55+ park - Posted by Mitchell (CA)

Posted by Mitchell (CA) on October 20, 2003 at 23:46:47:

I am a beginner in the MH business, and I have been scouting MH parks around my neighborhood for potential deals. I found 2 deals in 2 different senior parks and the PMs in each park tell me that since I am not 55+, they will not let me buy the MH. I explained them that I did not intend on living in the park and that I bought and sold MHs, but they replied that they had no way of knowing that for sure, and that once I bought the MH, they would have no legal recourse.
What do you recommend in this case? Your thoughts on this subject would be greatly appreciated.

Thanks.
Mitchell.

I live in the S.F. Bay Area, and finding deals around here is not easy. I really don’t want to let these go.

something that has worked for … - Posted by Greg Meade

Posted by Greg Meade on October 21, 2003 at 16:00:06:

me is being very straight with pm and flat asking" Although I am not 55 years old, i want to buy unit ? from so and so and fix up and resell in your park to a Park qualified tenant. Can we work together to keep this unit in your park?" Half the time they say yes and will give you a time limit to get sale ready. Anne is right in that any getting around a pm or rule will eventually hurt you.You really need them on your side. Me and another investor from florida tried to do a deal in an over 55 park and even though i am only 52 they said ok…said 20% could be under 55 but still over 40 to keep the “mix” correct. Good Luck and don’t despair…someday you will be over 55! LOL

Re: PM won’t sell in 55+ park - Posted by The55+GuyFromAZ

Posted by The55+GuyFromAZ on October 21, 2003 at 10:01:05:

At least 80% (of the homes owned) in any senior park need to be 55+ plus to retain the senior status.

Stop trying to buck federal law… play by the rules or play elsewhere.


Doc missed this one by a country mile… and had no right (in terms of common sense) in advising you how to cheat. Play that game and you’ll have to tote the home at the very least and cover everyone’s legal expenses (yours and the parks) if they press charges.

There is more than one way to skin a cat. - Posted by Dr. Craig Whisler CA NV

Posted by Dr. Craig Whisler CA NV on October 21, 2003 at 24:59:43:

Is your mom or dad 55? If not do you have living grandparents who could work with you to satisfy the parks 55 minimum age requirement? They may even be in a lower tax bracket.

I think the park is wrong. The rule should be 55 to move in, not to buy or own. What if a bank repos a mobile home in this park? Does the bank have to be 55 years old?

Better to put older relatives on title and leave the cat alone.

Regards, doc

…aligator mouth… - Posted by Dr. Craig Whisler CA NV

Posted by Dr. Craig Whisler CA NV on October 21, 2003 at 15:18:03:

If he lies about his age, he has cheated, and possibly broken the law. If his grandfather buys it he has gone around the law. That is what common sense is, finding a legal way to do what you want, when others aren’t creative enough to figure out how.

If the pm or park owner is so dumb as to prohibit outside financing, HE, is the one lacking common sense, by a country mile, as you put it.

Your critique is about a sensible as a screened-door on a submarine.

I’ll stand pat on the advice I gave. A mile consists of 5,280 feet. You just stuffed ALL of your feet into your aligator sized mouth at the same time. That seemes to be your speciality.

I’d prefer to let the readers judge for themselves, rather than be judged by you. They are not a dumb as you may think, mr. brainiac.

Regards, doc

Re: PM won’t sell in 55+ park - Posted by Anne_ND

Posted by Anne_ND on October 21, 2003 at 11:03:05:

The point is, this guy (or his company) is going to finance the homes, not live there. There is no rule that bankers or finance companies have to be 55+ to finance a house in the park.

That said, if the PM doesn’t want the guy to work in his park there’s no point in pursuing the deals.

Anne

Re: …aligator mouth… - Posted by Dave Fl.

Posted by Dave Fl. on October 21, 2003 at 16:46:46:

aligator is spelled with two L’s. Alligator.

Re: …aligator mouth… - Posted by The55+GuyFromAZ

Posted by The55+GuyFromAZ on October 21, 2003 at 15:45:14:

I own a 55+ park… that makes me something of an authority on the topic.

It’s clear that your not.

Re: PM won’t sell in 55+ park - Posted by The55+GuyFromAZ

Posted by The55+GuyFromAZ on October 21, 2003 at 11:21:06:

The point is, this guy (or his company) is going to finance the homes, not live there. There is no rule that bankers or finance companies have to be 55+ to finance a house in the park.


This is true… but he didn’t approach it from that perspective, did he?

He tried to buy the home and resell it, carrying the financing (in typical lonnie-fashion)… the PM is totally with his rights in refusing to allow him to “play in their dirt” in a manner that contradicts the park’s best interests.

A different approach would have produced the desired results.

Re: …aligator mouth… - Posted by Dr. Craig Whisler CA NV

Posted by Dr. Craig Whisler CA NV on October 21, 2003 at 17:01:28:

Well, you haven’t stated if you own 55 + alligator, but you sound like an expert anyway, so I’ll take your word for it.

I like to learn something nu everyday, but being told to go to ‘l’ twice in one day???

:~0

Regards, doc

Re: …aligator mouth… - Posted by Dr. CRaig Whisler CA NV

Posted by Dr. CRaig Whisler CA NV on October 21, 2003 at 17:15:51:

Authority, yes, Chuck. Infallible, no, Chuck.

I like your common sense, though. I guess that makes every man who has a wife is an authority on women.

I guess we also know what that would that make you full of if your septic tank backed up.

:~0

Regards, doc

Re: PM won’t sell in 55+ park - Posted by Mitchell

Posted by Mitchell on October 21, 2003 at 23:14:24:

Thanks for your comments and advice, but quit the bickering… everybody has their angle on a subject and one should respect the other’s point of view. In the end, I learned from each person’s post.

Anyway, I approached another 55+ PM in person and this time got much better results and feedback. What changed? I developped better rapport with the PM and was straightforward about my intentions in the park, leaving no doubt that I even considered moving in myself. I will say that my partner (wife) and I are really considering getting a dealer license and forming a company… that sort of approach might be more effective in the long run and put aside any doubts or suspicion from PMs.
We also intend to go back to the original PM and meet her in person and pull out our negociation skills to be allowed to make deals in her park.
I’ll let you know how it all went.
Thanks.
Mitchell.

Re: …aligator mouth… - Posted by tony w

Posted by tony w on October 22, 2003 at 16:25:16:

What a croc