Lonnie Deals in AK - Posted by Tyler

import · June 19, 2005, 10:36pm

Posted by john L. on June 20, 2005 at 13:51:37:

Hi Tyler,

I am emailing from NJ where an old beater type mobile home might go for $18k whereas in VA where Lonnie is from, it might be $3k to $5k. Lot rent down here is from $400 to $700.
I have been in other parts of the country, like WS and IN, where they can not move the repos fast enough.

It’s all a matter of scale. You just have to adjust your numbers accordingly. Financing based on his percenatage of buying low and financing for double what you paid should work anywhere except possibly the People’s Republic of California. AND, i understand it can work there.

Good Luck,
JDL

import · June 19, 2005, 10:36pm

Lonnie Deals in AK - Posted by Tyler

Posted by Tyler on June 19, 2005 at 22:36:38:

Ok everybody, I live up here in Anchorage Alaska, and for those of you who don’t know, (and you’d be suprised how many don’t) Alaska is part of the USA, not Cananda, we don’t live in igloos, wear moccasins, or eat whale blubber, Anchorage is a decent sized city for a small population state and I figured since we have quite a few older mobile home parks I’d give this Lonnie Deal a go. I bought both his books, read most of Deals on Wheels, listened to the tape recording of one of his siminars, and was all fired up about making some more money out of the small lump collecting dust in the bank for some rediculously low interest. I figured I had enough to spare up to 3,500 if the deal was good like the books described. So I set out to see how much the going rate was for mobile homes.
I checked the local paper and surprisingly found none under TWENTY THOUSAND except those that needed to be moved, which I have no place to move them to. So, I figured these must be the newer nicer ones. I jumped in the truck and headed out to the nearest two parks, found all the for sale by owner signs and wrote down numbers, called on them, and couldn’t believe how pricy these 30+ year old houses were. Here’s some details
1972 14X76 2-3br lam floor, fenced yard, new kitchen cabinets… $35,000
1978 14X70 2br 2ba good condition, shed included, $18,000
1br 1ba (didn’t call so don’t know year or size) $10,000

These are just a few, which wouldn’t be so bad if they weren’t so old or if they included the lot rent, which by the way, is $325-$350 depending on the park. Now I know the market differs from one economy to another, but geese, the book was talking about starting prices of $5,000 or so, and talking them down from there. If I advertise and look harder will I find these cheaper homes in a market where the going rate is so much higher. Does anyone work used mobile homes in an area priced simular to mine, or am I just getting way too worked up about a small problem? I hope some one can give me some words of encouragement, because my findings so far haven’t been that primising, thanks for any help, and Lonnie, I really have enjoyed your books so far, thanks
Tyler