Posted by Alan_FL on August 18, 1999 at 10:59:10:
Do you do deals in senior parks? I know the target market is much smaller, but I was wondering if you, or anyone else, have had any success in these parks. Senior parks out number Family parks in my area by about 5 to 1.
MOBILE HOME “AGENT” = PROFITABLE OR NOT? - Posted by Dan
Posted by Dan on August 17, 1999 at 23:50:38:
I was wondering if there is any money to be made by trying to sell mobile homes like a realtor would sell a house - say you find a mobile that is for sale by owner and you go to them stating that you can help them sell the home and you will collect a commission. I know there are already dealers that do this but I was jsut wondering if it could be lucrative as a side business to doing the regular Lonnie deals especially for those without much cash like me. just the fact that I am involved in the mobile home business as a Lonnie dealer should give me an inside track to buyers, parks, and lenders that will aid someone trying to sell.
Any thoughts from anyone about this?
Thanks in Advance,
Re: MOBILE HOME “AGENT” = PROFITABLE OR NOT? - Posted by Lonnie
Posted by Lonnie on August 18, 1999 at 08:09:25:
We have a zillion MH brokers in my area, and I guess there are some deals made by a few of them. (Like RE Brokers, listing a property is the easy part.) But from what I see, at least in my market, it?s a tough way to make a buck. First, you will probably need a brokers license, so be cautious and check. Second, the brokers usually over-price the home and offer no owner financing, which is the real key to this business. And then do a poor job of marketing the home.
Now, for the good news. When a broker has the sellers home tied up on a 60-90 listing, over-priced, no easy owner financing, the seller is paying lot rent, and then no buyers, what do you have? You have a very motivated seller. And that?s when I want to talk with the seller. We?ve made some killer deals at that point. I just leave my card with the seller and ask them to call me if the home isn?t sold by the time the listing expires.
Rather than be a broker, I think you will do much better by finding such deals and tying them up with a purchase agreement, or a L/O agreement. Then either bring in an investor to fund the deal, if need be, or flip it to an investor for a fee if you need to. But it?s even better if you can keep the whole deal, rather than give part of your profits away.