Posted by Tony-VA on August 15, 1999 at 16:35:21:
You do not want a price to start at to make offers. In fact you don’t want to make an offer. Follow Lonnie’s methods and allow the seller to always name the “best cash price” first and then allow them to lower it without you providing any numbers.
I do not know your area but the MH you have there would be harder for me to sell here in VA. For starters 3 bedrooms sell much faster than 2 bedrooms. The home is much shorter than most at only 60 feet. All markets differ. Dirk sells a lot of 2 bedroom homes and has said there are very few 3 bedroom deals in his area.
Keep in mind the most imporant tip that can be given. Make your money going into this deal. Collect it when you sell. If you buy it right, you give yourself a lot of room for error and will still make a huge yield.
Start with the park manager, get approval to buy and sell holding financing in the park. Make sure the home can stay in the park and see if back lot rent is owed.
For what it’s worth, and depending upon it’s condition and seller motivation, I would buy this for low to mid $2000. Again, every area is different. Heck, each park can be different. Just do not get excited and over pay.
Best of luck and brush up on Lonnie’s negotiating techniques before speaking to the buyer. It will make you money.
Tony