Can't find enough small deals - Posted by Philip

Posted by Tony-VA on February 13, 2003 at 16:21:35:

Just like the books says, the deals are made through the park managers. Driving parks is not going to make you rich. You have to get out and talk to people, tenants, maintenance guys, park managers etc.

Think referral business. The park manager knows who is a pain to collect from. The same tenants are late each month on the lot rent. Park managers love to get rid of these people.

By buying a home from them, you make a PM very happy and create a reason for the PM to do more business for you.

But until you go in and talk to the park manager, you will not know who these sellers are. They don’t have signs in the windows. They don’t have ads in the paper. They are in denial up until the moment the Sheriff’s foot hits their front step on Eviction day.

More than once the Sheriff was at the front door while myself and the pm were at the back door getting the papers signed for me to buy the home.

The asking price is what you are chasing from what I can see. Stop that. Start looking for motivated sellers. Do that through the PM. The prices will follow.


Can’t find enough small deals - Posted by Philip

Posted by Philip on February 13, 2003 at 15:44:14:

How do I find these 2-3k trailers in more abundance. I have found just 2 or 3, and they were all on private land, and were junk.

I have found one potential good one, that I am bidding on.

These aren’t amongst the FSBO in the parks I visit. Nor the retailers. Only repo’s.

I need more resources, and I think I could help a PM or two. They might like me then(and I might be able to retire BEFORE I die!
Thanks Philip

Re: Can’t find enough small deals - Posted by Curtis - FL

Posted by Curtis - FL on February 13, 2003 at 21:34:01:

Like Tony said, it’s all about the PMs. The last three homes that we acquired have taken an average of 7 months. We worked with the PM and knew these homes were going to be available. The best was a 93 14x76. Got it for $2500, but then found that the bank paid $1750 in back lot rent. DOH! The PM would have discounted that rent to us. Talk to the PM at least twice a week. Read DOW pages 45-46 every day. That’s the secret of this business.

Good Luck