… look for repos, or look for lien sales in other parks and hope the park owners are conducting honest sales. If not you will get to verify first hand what I have been saying about the crooked ones.
I give out a lot of information for educational purposes so even total beginners can learn to recognize the various scams and thereby avoid being entrapped by them. That does not mean I approve of doing any of those things, though some people may feel tht in some extreme situations such actions may be warranted.
Its always best to let Scriptual Precepts guide your thinking, determine your actions and set your ethical standards. You will reap what you sow multiplied 30, 60, or a hundred fold. Actually when you think about it that is the best safe rate of return I’ve ever heard of and just look WHO is guaranteeing it!
Where to find trailers, I already have land. - Posted by Alfred
Posted by Alfred on September 06, 2003 at 23:58:23:
I need to fill two vacancies in a 30 space MHP that hopefully I will have under contract by the end of the week. What is the best way to acquire these two?
To get NICE but free mobiles and to get them moved in and set up free, I would just rent those two spaces to the next two applicants who walk in your door who are totally unqualified in every way, credit-wise, reference-wise and income-wise. The only requirement would be that they own free and clear nice, late model mobile homes. It won’t be long before you own them.
Re: The best way? In whose opinion? - Posted by Alfred
Posted by Alfred on September 08, 2003 at 01:15:59:
Ok I see what you are saying, but what special conditions would I have to put on the rent. Or maybe a better way to phrase it is how do I gain ownership of it even if the owner stops paying lot rental and moves out. Is there a waiting period to file for ownership, and if so about how long.
Alfred, there are no special conditions required. In most states, as a park owner, you will have automatic lien rights for space rent. You just hold a routine lien sale of the mobile home right in your park. After the sale you turn in a report to your licening authority, be it the DMV, DOH or whatever, and they just issue you a new title, the same as with cars. If you really want to get the mobile you should wait until the total space rent owed you is just high enough to discourage other buyers, or you put in a phoney bid and change it after the others bidders leave (as is common in California), or you inform every bidder that the mobile can’t remain in the park after the sale. This will have the effect of chilling the bidding because it effectively raises the cost (to any outside bidders—but not to you because you won’t have to move it) by the amount of money that it would cost to have it moved and set up again (probably $2k-3k depending on if it is a single or doublewide). If you really want to act like a California park owner you inform all bidders in advance that the mobile has to be moved within 72 hours of the sale or the buyer will lose it AND all of his money.
A footnote about the phoney bid so you will understand how the scam works. I know that I don’t always explain things so clearly: If the minimum bid amount(for space rent and sale costs) is low for such a nice mobile there may be one or more other people who bid more than the minimum amount, if you haven’t taken any of the above (ILLEGAL) steps to discourage bidding. If there are any overbids the amount over the minimum must be returned to the person who lost the home just as with forclosures. Lets say for example that the minium bid is 3k. That is the amount owed to the park for back space rent plus the sale cost. Say it is a nice new double wide and someone bids 7k, then to protect itself and to win, the park owner of his manager bids 8k. The park wins. Everyone goes home. The park manager fills out his paperwork and states that the winning bid was 3k. Noone is any the wiser because the other bidders never see this paperwork. The park gets it for the minimum amount owed and the park manager gets rewarded instead of going to jail. The poor guy who lost his home gets screwed out of the $5k overbid. He is just some poor schmuck who doesn’t even know that he has been robbed.
Sometimes it seems there is no justice in this world. Such corruption is absolutely rampant in California parks.
Re: Here is how the SCAM works. - Posted by Alfred
Posted by Alfred on September 08, 2003 at 11:23:02:
Well that is not how I would like to conduct business. Can you tell me a better way to acquire t homes for my empty lots. Thaks Doc I do appriciate your time.