Posted by JustinA on September 02, 2003 at 18:14:54:
JohnC, Thanks for your input. I’ll heed your advice & wait until I digest the info. in Lonnie’s book before pushing forward. Take Care, JustinA
way around owner occupied req’d. - Posted by investingjunkie
Posted by investingjunkie on September 02, 2003 at 14:19:07:
I’m new to M/H investing & have just ordered both of Lonnie Scrugg’s books. Is there a way around a park requiring M/H owners to be owner occupied in order to be in their park? I asked the park rep. if they had any lots for sale & they said they only rent their lots. If this is the case I will not be able to do Lonnie deals. Is this the case w/ most parks or are they sometimes flexible? Thank you in advance.
Re: way around owner occupied req’d. - Posted by JohnC in Fla
Posted by JohnC in Fla on September 02, 2003 at 17:49:23:
Hi,
In a Lonnie deal you purchase the mobile home, Not the land.Your client pays the lot rent. You are financing the mobile home for them.Wait untill you get the books and read them to avoid a mistake that might cost you a headache and money. Best of Luck.
JohnC