Posted by Tony Colella on March 22, 2006 at 11:00:06:
Nice deal and I like the attention to detail that allowed you to pick up on the fact that there was money left on the table in the form of that truck. Adding to the truck buyers mobile home note was a nice move as well.
Tony
Solving Problems - Posted by Don (Tn)
Posted by Don (Tn) on March 22, 2006 at 10:02:24:
As I continue to reread Lonnie’s books and read this board, I have concluded that we are in the problem solving business more so than the mobile home business. People pay for either pleasure, or a way to make their problems go away. So listening to people and thinking of ways to solve their problems can make you rich. I give you an example of a just completed deal by this newbie that still seems too good to be true.
I call about a 86’ 2/2 in the paper. Guy says that he wants to sell to mave closer to his young daughter and that he can’t make enough money here. A bell goes off in my head,possible motivated seller. I go to look at it and it is in fair condition needing a few small things. He wants 3500.00 but as we talk his price eventually slides down to 2500.00. I could do the deal at this price, but no need to be a motivated buyer when you have a motivated seller. I tell him that is a little more than I can spend and to call me if things change. He calls about two weeks later and says he will take 2000.00. I tell him I will come on back out to look again and talk.
He has been offered a job in this new area he wants to move to but needs to sell first. I then give the famous what is your best cash price? He says that he needs 1000.00 to rent an apartment at the new place. So I now own a decent trailer for 1000.00
Now I need a buyer. I pull out a list of previous callers on my first Lonnie deal. (keep a call list)For various reasons none of these are buying right now, but one has a sister that needs a home. Sister loves it. I sell it for 8000.00 with 1000.00 down with 36 months. She says that she would have liked to pay more down but she couldn’t find a buyer for a decent older pickup that had brake problems. I tell her that I will give her 500.00 for the truck applied to her note. She is just glad to get rid of it so we have a deal.
I then call my first Lonnie buyer who happens to be handy with cars and is needing one. I sell it to him for 1500.
00. with 500.00 down (tax return) and add the rest to his trailer note.
I walk away from all of this with 500.00 cash and a nice stream of payments, all because of for once in my life I payed attention. I give all the credit to Lonnie and the experts on this board who have made me really use my head.
Congrat! Your success motivated me. (n/t) - Posted by James
Posted by James on March 23, 2006 at 24:23:29:
n/t
Re: Solving Problems - Posted by Ryan (NC)
Posted by Ryan (NC) on March 22, 2006 at 22:49:33:
Sweet deal… Everyone wins and you still get to collect checks for years to come! You are 100% correct about being in the problem solving business and it pays nice dividends.
Best wishes,
Ryan Needler
Re: Solving Problems - Posted by Lonnie
Posted by Lonnie on March 22, 2006 at 15:24:33:
Hi Don,
Fantastic! Success stories like yours make my day. Keep it up and you will be out of a job in no time.
All the best,
Lonnie
SUCCESS STORY!! - Posted by Lyal
Posted by Lyal on March 22, 2006 at 13:27:09:
Don,
WOW, Nice goin’. You got the most important part of this whole thing right off the bat. I must admit that it took me a long while to internalize the concepts and I can’t say I’d have been astute enough to pick up on the truck part of the deal.
Have you tried to figure your yield… don’t bother 'cause it’s INFINITE!!!
Thanks for sharing this story!
Lyal