Posted by Chuck (AZ) on February 01, 2002 at 12:00:12:
I’ve yet to do a lonnie-deal in a 55+ park, even the one that I own… they’ve all been cash deals to date.
“snowbird mobile home parks” in FL - Posted by Biz Doug Burnett
Posted by Biz Doug Burnett on January 31, 2002 at 20:11:34:
We have recently discovered the potential income Lonnie describes in his books. We just surveyed our local area (southwest FL), and have discovered that of the approximately 50 mobile home parks in this area, 48 of them have a requirement that the residents be 55 or older. (The 2 parks that are “all ages” are very small, have no amenities (e.g., a pool or exercise room), and are, quite bluntly, rather “trashy.” The other interesting thing our research points out is that this are may really be ripe for developing some “all ages” MHPs.) The “55+” parks in our area are usually very large and the mobile or manufactured homes on the rental lots are all in good to excellent condition (even if they are not all that new looking). We’re wondering if anyone else on this board has experience buying and financing homes in parks like this. Our inexperience in this venture has us now assuming that folks who’d buy would typically have the $10,000-$30,000 cash to buy the mobile home outright–which would not offer us the opportunity to do the “Lonnie-type deals” here. Has anyone in other “snowbird” areas of FL been able to make some serious $$$$ using Lonnie’s methods? Thanks!
Re: “snowbird mobile home parks” in FL - Posted by Ed C (CA)
Posted by Ed C (CA) on February 01, 2002 at 01:21:10:
No info regards Florida MHP’s but have similiar number of +55 MHP’s in Southern California with high prices of MH’s. ($ 30,000 - $ 100,000 ) Crazy enough!! They can be “Lonnied” the same way as read many time’s on this forum. My experience has been +55 crowd is not always motivated only by $$$$ (On 4th deal now- 1 Lonnie Deal - 3 cash outs) The numbers may be higher than other parts of country but Lonnie’s rules WILL work here. I have bought 2 MH’s @ $12,500 and resold @ $37,500. One seller said he wouldn’t take a penny less than $20,000 which was true. But he did take $12,500. Go figure!! I gain from all posting’s on this forum and Thank you all. I miss posting’s from “Doc”. I intent to focus my business in a direction pointed out by Doc. Rental’s of MH’s & lots I own. Thanks Doc!!
My offers are prices that will always allow me a “Good” profit for my business and family. Never on sellers problems. KISS - Keep it Simple Folks
Ed C