Long distance buying of Mobile Homes - Posted by Tom I.

Posted by JoeP(VA) on April 12, 2002 at 15:14:36:

Hello, Im not a “guru” or a “know it all” by any means, but I would think if you can work the deal out and you can profit from it, it shouldnt matter if these mobile homes were in Zimbabwe…

Long distance buying of Mobile Homes - Posted by Tom I.

Posted by Tom I. on April 12, 2002 at 15:09:28:

I am looking at several repos in my area. They cost a little more but sell great. How far from home should I go? There are several within 100 miles but only 2 within 50 miles. Is there a guideline as far as “distance from home” I should look for Homes?

Re: Long distance buying of Mobile Homes - Posted by Tony-VA

Posted by Tony-VA on April 12, 2002 at 15:33:29:

You may want to search the archives as this has been discussed before. Personally I think it is a matter of lifestyle choice.

Lonnie deals are often a bit higher maintenance in collection and rehab (if you go that route). More importantly, if you are doing Lonnie deals in parks, it quite beneficial (especially when doing your first deals in that park) to be there often enough that the park manager gains a level of familiarity and trust with you.

Once the park is used to working with you, deals will come your way. Even when you have a good system going and relationship established, many good deals can be missed if you are not around. “Out of sight, out of mind.”

Long distance deals can be done and are done by some investors here.

Buying repo’s will vary your market quite a bit. That being the case, you may need to be flexible on location. Developing a system will be a great benefit. If you only target repo’s then your main concern will be developing a system that brings your target homes to your attention in a timely manner. Repo lists can be highly competetive and higher priced but deals can and are found.

The decision is up to personal preference and may be swayed by your market and ability to systemitize.

Best Wishes,