Psychology of MH sellers - Posted by osirus


#1

Posted by Tom on October 29, 1998 at 10:32:23:

Writing to see if you are still working on you book for Flipping. If you are I am very interesed in when it will be ready.

Tom


#2

Psychology of MH sellers - Posted by osirus

Posted by osirus on October 29, 1998 at 06:21:06:

Earlier this week I was “riding the speed bumps” in several local mobile home parks. I had collected quite a few promising leads. I called this one lady who had the following Mh for sale: 2/1 14x60 1982 with wheel chair ramp access, washer/dryer, appliances and some furniture, $6000. During our initaily pleasant conversation, I learned that the home has recently been vacanted by the seller’s physically impaired father (for health reasons) and had been on the market for less than week.

I mentioned to the seller that I buy, sell, and financed used mobile homes. That is when the seller got unfriendly and hostile. She said that she did not wont to deal with anyone like me and promptly hang up.

I reanalysized the conversation so that I could figured out where I went wrong. Then it occured to me that when I mentioned that I buy, sell, financed used mobiles that maybe I came across like some vulterous, telemarketer who was trying to take advantage her and her father. I know that I get angry when telemarketers call me.

I think in the future I will not mention to mobile home seller’s that buying for investment purposes as opposed to personal residence; if I feel that the seller would object.


#3

“Don’t ask, Don’t tell” - Posted by Jeffrey (VA)

Posted by Jeffrey (VA) on October 29, 1998 at 14:39:26:

I just closed a Mobile Home deal last weekend with a buyer expressing the same negative feelings. Upon my initial meeting with the buyer, he told me that a mobile home “Dealer” offered him a specific amount, but not until January 1st. The buyer told me that he wanted to move sooner because he was buying a house with his wife (Motivated Seller?). He ALSO told me that the Dealer had told him they were planning on moving the mobile home to their dealership lot, fixing it up, and reselling it. This idea apparently agitated the seller. He told me that he did not like the idea of these @*#&$! dealers taking his mobile home and reselling it to some poor person and making a profit at their expense.

Well after he said that do you think I whipped out my card and told him I was an investor/dealer? - and not only was I going to turn around and resell his mobile home for a big profit, I wasn’t even going to fix it up!! I kept my mouth shut.

I ended up sitting in his living room for over two hours, half the time we never even talked about the mobile home. In the end, he sold me the mobile home for $1,300 less than what the “Dealers” had offerred him. His words were, “Hey I think your pretty cool”.

So I believe in the “Don’t ask, don’t tell” strategy. If they don’t ask, I won’t tell. On the other hand, if they DO ask, I think you should be honest and tell them. But most I don’t believe would ever ask.

As in my case, this buyer was a carpenter and had done alot of work on his own rehabbing the mobile home. The home was originally owned by his mother who was deceased. He just wanted to be sure that the home was going to another person who would take care of it. I’m sure the guy from the mobile home dealership didn’t take two hours of his time and sit down with the buyer like I did to find out what the buyer’s needs were. During that time I learned an extensive amount of information concerning the renovations that he had done on the mobile home. I will now use that information as selling points. This one deal taught me that buyers probably care more about who YOU are and how you treat THEM, rather than WHAT you are. I know for a fact that if I didn’t invest two hours of my time with the buyer and just listen to his needs and keep my mouth shut, I never would have closed this deal. Oh, and the other half of the conversation?.. He told me where all the good fishing holes were in the area!! (I never had the heart to tell him… I don’t fish).

  • Jeffrey

#4

Re: Psychology of MH sellers - Posted by Bo (GA)

Posted by Bo (GA) on October 29, 1998 at 10:59:00:

Having had similar experiences with SFHs (e.g. “This house is for living in - not exploiting!”), I try to give the impression that I am looking for a house to live in, rather than as an investment. Only if I am askeded about it directly, do I divulge my “secret” - If you lie about it you will probably get caught - not a good way to do business. My advise is that sellers tend to be suspicios about investors who may seem like they are trying to “make a quick buck”, and if they have the impression that you are planning to live in the house (or MH), they may identify with you easier and be more open. Just my 2 cents worth.


#5

Re: Try This… - Posted by Jackie in Dallas

Posted by Jackie in Dallas on October 29, 1998 at 10:29:10:

This is what I do and it works - maybe not the first time I ask it but eventually, when the seller is motivated enough, it works…

(it’s right out of Ron LeGrands materials)

I tell the seller of the house, mobile home or whatever — that the property is something I MIGHT be interested in. Then I ask the magic question, " If I could pay you all cash and close quickly, what is the least you would accept for the property?" No matter what they say, I ask “Is that the best you can do?”

If they are in the ballpark of what I’m willing to pay - we talk some more - if not,

I simply tell them that it’s not in my budget, then I tell them that if they don’t get any other offers to give me a call in a few weeks (or days) and maybe we can work something out.

The “something” may involve me paying a little more for the property if they can provide seller financing or once they get really desperate to sell, the price will go down. It’s just a waiting game.

If you act too anxious, the price will stay too high.

Notice, there is no talk about being an investor - I just tell them it’s a property I may be interested in - what I’m going to do with it is none of their business.


#6

Re: Psychology of MH sellers - Posted by Sheik

Posted by Sheik on October 29, 1998 at 10:09:02:

I guess it varies from place to place…

In my initial contact with prospective sellers I
always mention That I buy and sell with finance.

I have never had a problem with sellers knowing
what I do. In fact, it has helped me in my
negotiations. I explain to them that this is a business
and as such the numbers has to make sense or I won’t
be able to purchase. They ALWAYS nod their head and say
"I understand". Of course, price negotiation is the
last thing I do ( after building rapport) with the
seller.

If I encounter such a seller as you did, my conclusion
would be that he/she was not motivated enough.

-Sheik


#7

investors and investing - Posted by Gator Shelton

Posted by Gator Shelton on October 29, 1998 at 09:13:53:

In 13 years of messing with real estate I can say with some degree of confidence I have never told anyone I was an investor or that I invested in real estate. I have never had a reason to and it can sound kinda pretentious(sp?). I’ve always found that if I just talk to folks like normal people and get on their level, we usually get along real well. I’m just a fellow tryin to make a living.

By the way if someone was to tell me they were a real estate investor, my initial assumption would be that they didn’t have a clue and this old country boy was gonna teach em a good lesson about real estate investing.

Best wishes and good luck in the future from your friend, Gator Shelton


#8

Listen! - Posted by Mel

Posted by Mel on October 30, 1998 at 10:56:21:

When I am looking at a house with a seller, I look for signs of their interests. Even if you know nothing about them, one simple comment like “I’ve always wanted to try golf” or" how long have you played the guitar? I’ve been thinking of taking lessons" You get the idea. Then let them run with it. They gotta like you or it’s an uphill climb. Best lesson I’ve ever learned. It really works.

Mel


#9

Re: “Don’t ask, Don’t tell” - Posted by osirus

Posted by osirus on October 29, 1998 at 19:56:12:

How much did you end up paying for the MH if you do not mind me asking?