Posted by chris_wa on April 26, 2000 at 10:59:25:
read the bible! that is “deals on wheels.” It sounds like you are raring to go…AND THAT IS GREAT! but please exercise a little caution. Seems like all the questions you have asked lately can be found in lonnies little book that costs all of twenty or thirty bucks. I can’t imagine doing this biz without his materials. Get them…read them…it is all mapped out right there for you! Lonnie has made a lot of people a lot of money. sounds like it is your turn!
i admire your dive in attitude…but try and walk before you run. if you are truly interested in doing this, or heck, even if your not…his book is gold. at the very least, it will teach you some basic principles of notes and that info alone is invaluable. i would be brave to guess the average american wouldn’t have a clue how to figure a yield on an investment.
Approaching the PM - Posted by Jay
Posted by Jay on April 26, 2000 at 10:33:11:
I know you must get the OK from the PM, before you can buy a mobile home in the park and whoever you sell the home to must be approved. Does this happen all the time or once you get a good working relationship with the PM will you be allowed to put whoever in your home? What type of credit is the PM looking for? Can you be denied based on the PM perception of you? Should you dress up when meeting the PM? They say first impression last a life time. Just trying to get a feel of how I should approach the PM.
Listen to Chris and read the Bible - Posted by Blane (MI)
Posted by Blane (MI) on April 26, 2000 at 11:24:20:
Two things are going to answer most of your questions: 1)Deals on Wheels, and 2)THE STREET, as Ed Garcia says. At this point I for one would NEVER put someone in a home without the PM’s blessing, no matter how good the relationship, 'cause it would only take one bad buyer to screw up that relationship. The MH I have for sale now may be a cash sale, but I will not do it unless the PM has approved her to live in the park.
Most of your questions listed above can only be answered by the street, i.e. getting out and talking to PM’s. Some parks will require good credit, some not. One park I went to told me they don’t allow dealers to buy, and if I did, I’d have to move it. I personally approach PM’s as someone working for a company that buys and sells homes. Others here approach differently. Do you see what I’m getting at? Each park will be a different set of circumstances, it’s own little market. What works in park A won’t necessarily work in park B. Parks nearer metropolitan areas might be stricter than outlying parks. The only way you’ll find out is by taking action.
Like Chris, I admire your desire to get going. But there’s no reason to reinvent the wheel, especially with someone like Lonnie and others at this site to learn from. Do and learn something every day, and you’ll see results.
Good luck, hope this helps.