Tip for a Bonanza of Lonnie Deals - Posted by John Katitus


#1

Posted by Brad Crouch on December 17, 1998 at 02:51:24:

David,

I’m really not against the “mindset of the 90’s”. Jim Piper taught me a thing or two about “attachments”.

I live in a senior park in Los Angeles County. We have lived here more than 3 years. In all that time I have never heard anyone refer to their home as a “manufactured home”. After all, this is a rather cumbersome phrase to say.

The residents here do not use the term “trailer”, either. Using that term will bring scowls to the faces of anyone within earshot.

Instead they say, “I’m in coach # xxx”. Just for the fun of it, today I mentioned something about living in a “manufactured home” to see what type of reaction I would get.

I was asked if I was moving! They thought I meant a “modular” home, perhaps being built on some piece of land, right now.

So I respectfully submit that at least here in the Los Angeles area . . . “coach” is the term that seems to be universally accepted.

Perhaps a great idea, but it won’t fly here!

Brad


#2

Tip for a Bonanza of Lonnie Deals - Posted by John Katitus

Posted by John Katitus on December 15, 1998 at 02:03:38:

I have absorbed a great deal of knowledge from this site. Thought I might try to give a little back.

I contacted a Mobile Home Park manager, and explained that I was looking for homes to buy for cash and sell with financing. After we talked a while, she mentioned evictions. She said that after a park resident is evicted for non-payment of lot rent, after a period of time the trailer is hauled to the dump and destroyed. I don’t know why it’s not just impounded, but I surmise it’s due to the trouble with hauling, storage, liability, etc.

So the seller, if they don’t pay the back lot rent, loses the trailer. They could move it, but that would involve hauling fees, storage, and reconnection at another lot. If they didn’t have money for lot rent, they’re probably not going to find it for moving, either.

The park loses. They are out six months lot rent. They have to pay first to have it hauled to the dump ($400), then to have it destroyed ($300). And they are left with a vacant lot and legal bills.

It occurred to me that these might be motivated sellers. I asked if the manager could provide my name, as a cash buyer, to people being evicted. She said she would happily give me a list of their names, addresses, and phone numbers!

I will take this list, call them, and follow up with letters. And continue to follow up.

A woman called me today and told me she had to sell her home today or it was going to the dump. I confirmed that, at 9:30 tomorrow morning, the bailiff was going to be there to witness the move. I arranged to pay the back lot rent and give the woman $2000. She had been asking $9000. Considering I was her only hope, I probably gave her too much.

I’m sure there are a lot of different procedures in other areas. But if you can get connected with residents that are getting evicted, there has to be a point in the process at which they are EXTREMELY motivated. Good Luck.


#3

Great idea! - Posted by Jennifer(NH)

Posted by Jennifer(NH) on December 15, 1998 at 16:23:57:

You know I have come across evicted mobiles; however, I didn’t take it to the next stop. Thanks for letting me see the light!


#4

Re: Tip for a Bonanza of Lonnie Deals - Posted by David S

Posted by David S on December 15, 1998 at 12:40:47:

nice job! and as Soapy said, thanks for sharing your story.

One last thing; a trailer is something your haul pigs, cows, and 4-wheelers on. People live in mobile/manufactured homes.

David S


#5

Re: Tip for a Bonanza of Lonnie Deals - Posted by John (KS)

Posted by John (KS) on December 15, 1998 at 08:04:33:

Another idea, don’t get so jumpy to buy the home. Maybe you should have talked to the seller and let her know you may be interested but, don’t jump up and pay so much. You may have tried to tell her that $2000 was more than you had right now and that if she came down on her price to give you a call. If she doesn’t call, the day before she was to be evicted, show up at her door and negotiate then. Just an idea. I had a seller that I felt sorry for and I probably paid more than I had to, because I knew she needed the money, but I only dropped $450. I probably could have got it for $200 if I would have waited another week.


#6

Re: Tip for a Bonanza of Lonnie Deals - Posted by John(KS)

Posted by John(KS) on December 15, 1998 at 07:51:48:

Why not find out how much back rent she owes from the park and if it is not much, say $500 or less, wait for her to be evicted, then pay the park around $1000-$1500 for the home to cover back rent, eviction, and hauling to the dump costs?


#7

This is Thinking Outside The Box! - Posted by Soapymac

Posted by Soapymac on December 15, 1998 at 07:28:07:

Nice job of sharing it, too!

Soapymac


#8

Very Politically Correct of You - Posted by Miss Manners

Posted by Miss Manners on December 16, 1998 at 13:00:44:

.


#9

Re: Tip for a Bonanza of Lonnie Deals - Posted by Dirk Roach

Posted by Dirk Roach on December 15, 1998 at 18:14:25:

LOL, David.
I admit I myself was guilty of the “trailer” label for awhile. Now I’m finding it dificult to get used to Manufactered Homes. Oh Well I Guess Repition is the mother of skill.
Dirk


#10

Re: Tip for a Bonanza of Lonnie Deals - Posted by Reif

Posted by Reif on December 19, 1998 at 24:50:29:

"Why not find out how much back rent . . . wait for her to be evicted, then pay the park around $1000-$1500 . . .?

You guys forgot one major reason . . . Hogs get slaughtered - or - the early bird gets the worm. Why wait and let someone else steal the good deal?

Seems to me a good deal in the hand is worth two great deals in the bush.

Just a new guy’s opinion . . .

Reif


#11

Re: Tip for a Bonanza of Lonnie Deals - Posted by Cesar

Posted by Cesar on December 16, 1998 at 20:50:59:

Even though I admire the creative side of this, I must add that if at all possible, you would strive for a win-win situation. If the person being evicted owns the unit(obviously they do), then it would be easier to just have them sign it over to you than waiting for the eviction procedure to go through. It would probably be more costly, because now eviction costs are included (which may end up being more than what you could have done BEFORE the eviction), and there is also a chance that an upset tenant will destroy the property before they give it up (very, very common by the way). And of course, last but not least, is the human decency of knowing that you helped someone and that will come back to repay you many times more than the couple of hundred dollars you would (maybe) have saved. Just a little food for thought in the Holiday Season!!


#12

Re: Tip for a Bonanza of Lonnie Deals - Posted by John Katitus

Posted by John Katitus on December 16, 1998 at 01:03:38:

That’s a good idea - I will ask the park manager about that tomorrow.


#13

Re: Tip for a Bonanza of Lonnie Deals - Posted by Brad Crouch

Posted by Brad Crouch on December 16, 1998 at 02:54:20:

Dirk,

Try “coach”.

Brad


#14

Re: Tip for a Bonanza of Lonnie Deals - Posted by David S

Posted by David S on December 16, 1998 at 11:54:34:

another bad choice… coach is the label used with campers, small trailers, relating back to the 50’s-60’s.

Why not get in the 90’s mindset with this form of housing?

David S