Thanks Dirk, You were right - Posted by CHinWI
Posted by CHinWI on April 03, 2000 at 15:09:02:
I read one of your posts last week about “going up the ladder”. This morning I had lunch with a Vice President of a small local bank here in town. They do finance Mobile homes.
I purchased 4 REPO’s from them for $500.00 a piece!
I went into the meeting thinking “I’m a pro” and it worked.
I followed your email advice and asked the banker, what mobile home problems did he want to get off his books.
He wanted to just clear these mobile homes off his books.
3 of the mobiles are in 1 park, which is a family park. The other is in a 55+ Park. But that is okay because I will probably put my mom, in that mobile.
So I bought all 4!
I just got got back from seeing the park managers. Again you were right! She is going to help me sell the 3 for $11,000 a piece. For only $100.00 referal fee for each. Oh, no lot fee until they are sold.
So I spent $2000.00 and will make $2,700 and have $30,000 in notes. Also I can help my mom get her own place.
Thanks again for all your help,