Posted by Jacque - WA on June 08, 2001 at 08:26:10:
Thanks Soctt and good luck to you.
Jacque
JACQUE - WA, Senior Parks - Posted by Scott(WA)
Posted by Scott(WA) on June 07, 2001 at 11:12:30:
Quick question,
Have you dealt with the senior parks and if so what is the market like around Seattle for Lonnie Deals in these parks? I have a lead on 2 older 12x60 2/1 in a well kept southend park but this would be my first mobile deal and I’m a little concerned about limiting my market to only people over 55, at least for my first one anyway. Any advice you, or anyone else, could offer would be appreciated! Thanks in advance.
Scott
Re: JACQUE - WA, Senior Parks - Posted by Chuck (AZ)
Posted by Chuck (AZ) on June 07, 2001 at 13:50:34:
Personally, I don’t understand why people who are doing “Lonnie-deals”, aren’t looking at this section of the market more closely.
Most of the homes in the smaller 55+ parks are a perfect match for doing these. 1 or 2 bedroom, in nice shape, little to no repairs necessary and priced at $5k or less in most cases.
The 55+ seller is just as motivated as any other, sometimes more so. If you dig a bit you can usually get them for less… alot of these homes are passed onto the heirs (upon death), who are usually out-of-state and don’t want to hassle with them.
Now keep in mind that I’m in Arizona, and we have a very large number of retirees here. It may be different in your area, but I see this section of the market as a untapped gold mine.
The prospective buyers are more mature, and tend to take better care of what they own… the lot rent is never late (neither are the house payments), and with very rare exceptions… are virtually trouble-free tentants.
Re: JACQUE - WA, Senior Parks - Posted by Jacque - WA
Posted by Jacque - WA on June 07, 2001 at 12:52:03:
Hi Scott,
I?m not that familiar with the Seattle market or the Southend for that matter. I am out on the islands, Kitsap, Olympic Peninsula, Bainbridge, etc. However, knowing what I know about the housing market closer to Seattle, with rents alone being in the $1000?s the demand for affordable housing has to be enormous, especially for senior citizens. The majority of my deals are families in their mid-30?s.
I believe in Lonnie?s book he addresses senior citizen parks ? and in fact, I?m remembering an ad he even had in his book. You may want to try and go the route of advertising first and see what kind of response you get. Something like: WANTED SENIOR CITIZEN, blah, blah, blah?.
Maybe someone here will have some different advice as to their experience.
Good luck to you and let me know how it goes.
Jacque
Re: JACQUE - WA, Senior Parks - Posted by Scott(WA)
Posted by Scott(WA) on June 08, 2001 at 03:19:28:
Thanks to both of you for answering my post! I have Lonnies’ books but have loaned them to a friend since I’ve been busy with the house market and hadn’t yet gotten to mobiles. Maybe I had better get my books back and read them again! I’ll try the blind ad technique next week, I think I have a little time on my side with the mobiles that I was looking at.
Jacque, I have been following your progress through your posts, congratulations on all your success keep up the good work.
Scott