offer on MH - Posted by Mike

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.


offer on MH - Posted by Mike

Posted by Mike on August 15, 1999 at 13:42:01:

Looking at making first offer on potential Lonnie Deal. Called on add for 1982 MH 14/60 2bd with appliances and shed. $5000 obo. Talked to seller they have moved last Nov from trailer and have been paying lot rent since. Went and checked it out, good school system park right behind home, MH is in good shape porch needs a little work. Otherwise one of the nicer homes I have seen in asking price range. Seller stated they had it listed with a broker for much higher price with no luck. (everyone was right on this board about the brokers) I have to contact the park manager tomorrow to see if my plan to resell would be ok. Assuming everything is ok there what price would you start at in making an offer. Thanks everyone for the help. Hoping to do first deal before Oct 1 workshop on MH in NC.