Why MH’s are called cash cows - Posted by Dan (NC)
Posted by Dan (NC) on December 31, 1998 at 09:57:52:
Not every Lonnie deal has been this good to me, but I wanted to share one that has. I bought an 87 Fleetwood last April, fixed it up, added AC, and sold it. The buyer called me last month to tell me she and her fiance were going to buy a new SW, and the dealer would be paying me off. I had about 2K left in the home, and the payoff was 8400. I called the dealer and offered to take 5200 if he would give me back the home. Dealers around here really don’t want to take in used homes. I could have pushed harder, but I want to make sure he keeps sending me business. Anyway, the home is completely paid off, I’ve netted over $3000 profit, and now I can turn around and do it all over again!
And this got me thinking. If you have a decent customer with a good payment history, and one you think will qualify for a new home, why not encourage them to move up? Especially if there is a change in the family such as a new spouse or kids. Send them some brochures from a dealer with a salesman’s card, and suggest they might be in a good position to strike a great deal - with your endorsement. If they do buy, you may get an early payday and get your MH back free and clear. Plus make a friend at the dealership. Anybody tried working this angle?
And Lonnie, thanks, I’ll buy you dinner in Dallas.