Posted by Tony-VA/NC on April 25, 2003 at 09:28:45:
This might work as a means to solve your problem of having to pay the on this one home but it does not seem like a good, long term technique for a park.
It would seem that after the 2nd time the PM approves someone for an empty lot and you end up selling them a home on another lot, the PM will catch on and you will be in a worse position.
The PM may take revenge on your next deal or your next repo.
I can understand using this solution as a means of getting this home sold in this park with no intention of doing any more deals in this park.
There are some PM’s that you simply cannot work with, despite what they may have promissed, and you end up having to do whatever it takes to get that home sold. Do what it takes and move on.
I have made it a point to read and reply to many of the posts here at CRE. I think this is one of the first posts I have placed that was not in response to another post. Kinda feels cool to be on top of the list. (If you are not the lead dog, the view never changes, etc).
Anyway, I may have discovered (at least for me, here in Oregon) a way to up the odds that a marginal candidate will get park approval. It has been a MAJOR problem here locally, as all the park owners think they are renting rooms at the Ritz. I have had 5 denials over 5 applicants in one place. Just KILLING me at $408/month rent. My latest ploy (more an act of desparation really) was to send applicant #6 (no criminal, good rental history, but marginal credit with a 3 year old bankruptcy) into the office to apply for an EMPTY SPACE in the park. I am hoping the owner will see this guy as an additional paystream and approve him. Then the buyer wil actually purchase my home. If it works, it may help all those who are trying to get those marginal applicants approved. It won’t work on felons and eviction candidates, but I hope the visualization of that additional paystream will work in my favor this time. Then I can pull the rug from under the place and snatch up my approved candidate and move on to a better park, etc.