Posted by Gary on February 06, 2007 at 24:11:03:
Ryan,Certainly no intent of giving sympathy on my part, just trying to motivate much like you have done for so many others. I’m afraid I can’t bring myself to “worry” about those that don’t take action. I passed on the profits on two deals trying to get a couple young men a start in LDs. Both at the least doubled their money but neither have asked for the second deal. I don’t get it. Gary
The one that got away… - Posted by Ryan (NC)
Posted by Ryan (NC) on February 01, 2007 at 20:40:32:
Had a SUPER SWEET deal slip through my fingers today and it coulda been fairly easily avoided or at least challenged, worked out an agreement on a 20 pad park that woulda netted us and one of our partners a couple 100k in equity and 4k per month in cash flow once the property was filled… I wasn’t looking to buy the park at first and didn’t have the right contracts with me, I shoulda got it on paper (Lonnie’s story of the menu) when we negotiated the purchase but instead I trusted the seller for her word and just set a closing date for a short term triple net lease with an option which happened to be today.
Long story made short everything was great with the sellers this morning and 2 hours before closing when I talked to the husband, less than an hour before we were to close the seller called and said she was selling the park to her father for the same price instead, that way she could get it back in the future if she wanted to. We loose, don’t pass go don’t collect $200!
Please notice the Shoulda, Woulda, Coulda… My partner, my wife, & I all spent good time on this deal that we can’t get back and we’re not getting paid like we should be! Morel of the story, “You don’t steal in SLOW motion”… Dang where have I heard that?
Hindsight is 20/20 folks, I didn’t create a win/win today and lost this deal but I will find another deal before it’s all said and done. If you are just trying to get started and remain in your comfort zone, where will you be in 10 years? Get it done, work the system, and follow Lonnie’s advice!
Best wishes,
Ryan Needler (who was only slightly upset and went out to buy a LD for relief)
Re: The one that got away… - Posted by Gary
Posted by Gary on February 03, 2007 at 04:53:51:
Ryan,I typed up a lengthy reply but lost web connection and couldn’t get it posted. Nut shell is get on that deal…sweeten a little…got to be just an oral contract with the father…he ain’t gonna sue them for non performance.I’ll bet there is still a way. Remind them how doing business with friends and relatives is ALWAYS bad.Think,man,think.Gary
Re: The one that got away… - Posted by Mike Nelson (NC)
Posted by Mike Nelson (NC) on February 02, 2007 at 11:13:11:
Hey Ryan…I am sorry to hear about what happened…however, I also know you, and the simple facts of how and why this fell through have already in your mind modified your already fine tuned way of doing business, which now makes you an even more formidable investor than you were just yesterday. I feel sorry for your next MH park seller! 
I am a firm believer that EVERYTHING happens for a reason and as Sailor says, you will most likely have an even better deal come spring time! Thanks for sharing with us!
Mike
Re: The one that got away… - Posted by Berno
Posted by Berno on February 02, 2007 at 08:19:05:
Thanks for posting Ryan.
It’s great that people here can share stories of their success and their mistakes. Sharing stories of success shows everyone that there can be something better than the 9-5, working for someone else. Almost anyone can do it. Sharing the stories of the mistakes shows everyone that even experienced, successful people can slip up in this business and it reminds us all to pay attention to detail.
Sorry to hear about the lost deal, but another will be by soon. Thanks again for sharing, Ryan!
-Berno
Re: The one that got away… - Posted by Bruce
Posted by Bruce on February 02, 2007 at 05:31:20:
I would follow up with them and tell them that you would put right of first refusal in the contract if in fact the park comes available in the future. Nothing wrong with keeping your iron in the fire, you never know.
Re: The one that got away… - Posted by Sailor
Posted by Sailor on February 01, 2007 at 22:38:12:
This park may still be yours, Ryan. If the seller couldn’t make a
go of it, I don’t see her father doing a better job. I’d make nice w/
the bottle of champagne you’d planned to give her @ closing &
make sure she & dad both have fond memories & your phone #.
Tye (who figures you’ll have another bigger park by Easter now
that you know what you are seeking)
Re: The one that got away… - Posted by Ryan (NC)
Posted by Ryan (NC) on February 03, 2007 at 07:30:06:
I’m actually fine with loosing the deal, yes it was upsetting but I’d rather know before we got involved that their word is worth little of nothing… They actually offered to sell us 15 units in another park at a better price and we decided that it wasn’t likely to be a wise move. WHY would I not do 15 decent LD’s at once? what happens when they change their mind again in 6,12,18 months? Yes, I could get the paperwork locked up to protect the investment but the headaches they could cause me would void the value of any gains.
I think my post may have been mistaken by several, I don’t need or want sympathy for the lost deal… I will find others! It’s the folks that will never have a chance to get turned down that I worry about, there are hundreds of people every year that come and go at this board without doing anything!
I got a real wakeup call yesterday when I went in to deposit several thousand dollars and standing next to me was a nice little 70 something lady whom asked the teller “if she still had to leave $5 in her account cause she really could use the money this month…”
Just puts things in prospective… My family and I have been blessed deeply by the folks here regardless of where the rollercoaster ride shall take us!
Best wishes,
Ryan Needler