Attention MH Workshop Attendees - Posted by Lonnie
Posted by Lonnie on February 17, 2002 at 12:47:48:
It?s only about a month before the Atlanta MH workshop, and I need some input from some of you who will be attending. In order to make this workshop as beneficial as possible for you, it would help to know your level of experience in the MH biz. So, how about some input.
I normally begin the class with a basic buy/sell example and proceed from there. I?ll cover as much as time allows, but I want to cover the topics that are most beneficial to you. So let me know what you want.
If you?re not familiar with using a financial calculator, I recommend you buy one and learn the basics. One of the $30 (HP10B, or TI BA 35) will do fine. We probably won?t time have to cover calculator lessons, but if you?re having trouble with the calculator, (or have other questions not covered in class) I?ll be around all weekend, just look me up. I want you to be able go home and DO A DEAL!
In my opinion, one of the most important topics, and my favorite, is notes. So I hope to spend considerable time going over some of the good things you can do with notes?how to create, buy, sell, trade, discounting, etc. So, even though the basics of this class will be about buying and selling MH?s, I want to point out that it?s really about FINANCING?how to create cash flow, and how to obligate other people to send you checks every month. And the same techniques will apply to any thing you want to create a note on, and accept as collateral. Did you ever wonder why Sears, and all the other businesses wants you to charge that purchase? Because they make more on the financing, than on the product. Once you learn and understand how financing and money really works, you will understand why making money can be easy, and doesn?t require a JOB.
Our mind is like a muscle? if it?s not used, it turns to mush. So here?s a little assignment to wake up your creativity. What would you do if you were faced with this situation?
You have the chance to buy a MH for $3,000, and you have a buyer who will pay $6,000, with $600 down, and 36 payments of $200. But you have one small problem?you have no money. What would you do? O.K. folks, put your thinking hats on and let?s see some answers. There is no one best way, or one right answer, so don?t be shy about posting, that?s how we learn.