Golden Deal??? - Posted by Samw

Posted by SAMW on June 08, 2003 at 18:51:16:

Thanks again Doc,for your kind words.You have always been of help(this is my second post you have responded with kind words of encouragement)
I truely believe that I can make it work and dont believe in giving up in a few tries,any newbie reading the success stories also read this post.what I want to say is that intitally there is bound to be stuggles.But whatever dont give up.Ask a lot of questions on here and there are people to help.Iam sure its bound to work sooner or later.I live in Florida and I will come up with a seperate post for the Licence requirements.

After seeing Docs Message I went and talked to a few other sellers(I prefer driving through the Mobile parks of my choice and picking up the mobile homes for sale.This might also land me some deals which dont come on paper yet,nothing new just following Lonnie’s Advice…LOL

I have the commitment and I will not tire till I have a few deals up there and hopefully I can also provide words of encouragement and advice to Newbies in future like Doc,Shawn(OH), Phil Pelletier and all you awesome guys on this Board…Keep up the work guys,we Newbies all look upto you!!!

Thanks again Doc.

Golden Deal??? - Posted by Samw

Posted by Samw on June 07, 2003 at 15:59:44:

Hi Everyone,
I think I landed on a very good deal but I was wondering if I did anything foolish.

I was driving around my nieghbourhood when I saw a nice family park and saw a few homes for sale.I randomly picked one up and saw that a phone number with xyz mobile homes ad on the window.I called and the owner happened to be a mobile home dealer who had done like 90%business in the park and very good name in the park and she was moving out of tampa so the motivated seller.i went and saw the mobile home and found that its a 1980 24x56 with 3 bed and 2 baths .Pretty nice home with new carpets and paint and she was asking 9000 and I brought it down to 6000.I think thats a good price but I guess I was foolish when I said I wanted the house for myself .
Maybe I should have said that I am new to the mobile home business and told her why I was there?

Iam planning to call her up and just say causually that I have been planning to get into the mobile home business and any leads including a good reference to the park managers would be apprecaited,

I would be happy to hear your ideas and would apprecaite any help.
Iam really motivated now and I do want to close the deal and also want to get into her good books so that I can get good references

Thanks for reading my post patiently also for your responses

This one looks like fools gold. - Posted by Dr. Craig Whisler CA NV

Posted by Dr. Craig Whisler CA NV on June 08, 2003 at 15:57:30:

Sorry to have to be the one to inform you but it is probably worth about 2k at wholesale. You may be able to resell it for $5-7k with low down and you carrying the note but you will also have some expenses along the way. You are probably an amature dealing with a pro. That is OK. It’s where we all started out, but take care my friend, lest you lose your capital on your first deal.

The good things are that you are going out looking for deals, doing your own thinking, making offers, not afraid to enter into your first deal and you are wise enough to seek the advice of others who have years of experience. Thats EXACTLY what it takes to be successful in this business. You are that one in a hundred that I believe WILL succeed. Hang in there. There are probably better deals to start with unless you can negotiate this down to $2k.

Lower your offer to that amount and go on looking for better deals. Don’t hold your breath waiting for this seller to call you back. It is not likely to happen at 2k.

Regards, doc