Posted by Jeff on January 31, 2002 at 22:15:20:
Hi Randy! Many of us are in the learning stage… I am actually trying to do some deals and learning in the process.
Jeff
jeffj@notachance.com
Why all the concern about PMs? - Posted by Randy, OH
Posted by Randy, OH on January 31, 2002 at 16:14:14:
I am new here and have already ordered DOW, but I do not understand all the concern with PMs. I would think that a MH owner could sell to an investor and then the investor could simply find a buyer who would have to apply to rent the space as part of the deal on the selling end. If the buyer does not qualify, you move on the next buyer. I would not think it would be that hard to find a buyer who would satisfy the parks requirements. Why would the PM care if I buy and resell to a qualified tenant? I would think his main concern is to keep his park full with tenants who pay their rent on time. If he gives me a hard time, he may end up with a vacant space. I don’t get it. Could someone fill me in on the problem here.
Re: Why all the concern about PMs? - Posted by Jeff
Posted by Jeff on January 31, 2002 at 19:40:03:
Read what I wrote here:
http://www.real-estate-online.com/mobilehomes/wwwboard4/messages/12281.html
and you’ll understand…
Jeff
jeffj@notachance.com
Re: Why all the concern about PMs? - Posted by lyal
Posted by lyal on January 31, 2002 at 19:39:25:
Randy,
I’ll echo Chuck’s sentiments (although Chuck has special insight as he is a park owner / manager of more than one park).
Some managers consider these places their little kingdoms. If you come in blustering in telling them what you’re going to do it becomes personal to them. They run the place their way and that’s that. Many of these people are paid with a little cash and a free place to live. Makes no difference to them if you deal there or not.
If you think you’re going to push them out of the way, you better think again. There are so many ways they can make life tough for you. How about if you battle with them and end up buying a home there anyway. You get it all fixed up and start sending potential buyers to them and it just becomes a parade. It can last as long as they want it to. It lasted 9 months for me. I sold to the first guy approved even though the price was 2 grand less than I had in the home (cash deal luckily). Never been back there.
In summary, the PM can be your best friend or worst enemy, your choice.
All the best, Lyal
Re: Why all the concern about PMs? - Posted by Chuck (AZ)
Posted by Chuck (AZ) on January 31, 2002 at 18:01:10:
In a perfect world, that’s the way it should be and is.
Who said it’s a perfect world?
Re: Why all the concern about PMs? - Posted by Randy, OH
Posted by Randy, OH on January 31, 2002 at 21:38:03:
Jeff,
Thanks for your response. After reading your post, I am still a little puzzled about how these things work. My first thought was to go over her head to the owner. She is chasing away business. But, I suppose it all depends on supply and demand. If they have a waiting list to get in, they can be unreasonable. If they have vacancies, they should be happy to do business with you. So I guess the answer is to go to the parks that need the business. If that is the case, I still question the need for all this strategy regarding the PMs. Anyway, thanks to all who answered my question. This is a great board with a lot of experienced people willing to give freely of their knowledge. It is a real education to read these messages.
Randy
Re: Why all the concern about PMs? - Posted by lyal
Posted by lyal on February 01, 2002 at 07:00:39:
Randy,
Keep in mind that once you “go over her head” everything you do in that park will be like pulling teeth. Park mandated improvements to homes will never be quite right. Approvals for your applicant’s will be extremely slow and the approval criteria will be “by the book”.
In time, park managers will be your best source of good deals. When someone really NEEDS to sell, you’ll get the first call.
Instead of clashing with PM’s I go the opposite direction. I pay “finder’s fees” for any deal they get me. I drop off gift certificates to restaurants, fruit baskets at Christmas etc.
You need to make them an ally, not an enemy.
All the best, Lyal