Posted by Erych U. Hess on June 09, 2001 at 13:35:56:
Sorry about the caps, anyway how about an appraisal?
1979 Sandpoint 14x60 ,immaculate,I think I got a deal
but what can I resell this home at?
baught a MH park help - Posted by Marsha Benson
Posted by Marsha Benson on June 02, 2001 at 01:28:25:
I baught a 41pod MH park. I thought it was a great deal. I payed 43,000 for it. It has 19 trailers in it now. I got payment at $350/mo but ins. taxes and Utilities are $600/mo. When I baught it I was under the understanding everyone was paying rent. Come to find out only 10 of them are. I was advised by a lawyer that since the old owner didn’t have a rental agreement with them, there isn’t anything I can do. And i can’t force them to sign mine. Most of them are welfare cases or worsre. Please help me.
Re: baught a MH park help - Posted by Chuck (AZ)
Posted by Chuck (AZ) on June 02, 2001 at 22:55:12:
I hate to go against Ernest (I respect him), but I think he missed the ball on this one.
You paid a little over $1048 for each pad (that’s cheap).
The expenses are only $950 a month (way cheap).
9 spaces are lot rent only (no landlord hassles there).
Your left with 10 homes to do “Lonnie-deals” on (sell them to the current tentants).
The balance of the lots are FUTURE Lonnie-deals waiting to happen.
Now go back and re-read Ernest’s advice, and bear the above in mind when you do.
Re: baught a MH park help - Posted by Ernest Tew
Posted by Ernest Tew on June 02, 2001 at 05:57:01:
I would start by talking to a different lawyer. It sounds like he didn’t want to be bother.
You might make it clear to the residents that you intend to turn the park around by taking care of deferred maintenance, having park rules that will be enforced, and evicting anyone who doesn’t pay rent and abide by park rules. Then, evict a couple of the worst offenders to set an example.
The best policy is to be “fair but firm.”
If you would like to discuss it further, give me a call at (352) 475-1280.
Ernest Tew
Re: baught a MH park help - Posted by ERYCH HESS
Posted by ERYCH HESS on June 04, 2001 at 03:59:42:
I AM AT THIS SITE LOOKING FOR ADVICE ON M.H.
AND WHAT IS A “LONNIE-DEAL”.
AND EVEN THOUGH I READ IT I DON’T UNDERSTAND WHAT HE IS
GOING TO DO ABOUT THE DEADBEETS.
Re: bought a MH park help - Posted by Chuck (AZ)
Posted by Chuck (AZ) on June 04, 2001 at 10:01:56:
He evicts them, them re-sells the home.
(By the way - loose the CAPS, it’s considered shouting.)