Posted by Dr B(OH) on January 07, 2009 at 18:43:47:
The park is a two hour drive from home! You, my friend are a very motivated investor.
Trying to do Lonnie deals that far away to ME would not be worth it. There is too much hands-on interacting with sellers, buyers, fix-up, and park managers for each deal to spend four hours on the road each time.
Surely, there are small deals of some sort closer to home. I would only consider a large deal e.g. MHP, Apts. or self storage that far from home.
I have found a fsbo mh in a park where the owner just wants out. I am not dealing with anything new, but I feel I could finance to someone and think I have someone lined up. The owner does have pets and is moving any day now, but I think the home might be a bit stinky which is why she doesn’t want me to go through yet. That is just a guess, or she is embarrassed about cleaning…not quite sure. Anyhow she will be calling back any day and she has called me to give me updates.
The park owner was contacted prior because there was actually another owner in the park who was giving the home away. I told the owner I wouldn’t live in it etc. When she found out I may actually profit off of it she backed out.
So after the new year, I called the park owner to set up a meeting that she had wanted. Now she is leary of working with me. I sent her a one page fax prior just to get a hold of her, now she says she wants more information about me. She asked if I had anything to do with government housing.
I’m not sure what has gone through her head since we last talked but now you would think she believes I targetted her park and went door to door.
I did tell her I had an interest in another mh in her park and that I found it with a for sale sign in the window.
She said she didn’t want to sell me any of hers and if she had to evict that she didn’t want a third party in the way. I told her that lot rent came before home payment because the home is in her lot. In addition I said that her rules are the rules because it is her park.
I will be talking with her again tomorrow, but she is requesting more paperwork to be faxed. I am happy to send something, but she can’t be that vague as to what she is seeking.
I do not want to walk away from a 2nd deal. I also do not want a nightmare with the park. I believe I have a nice older couple lined up, but why would I send them to the park to get approved until the house is mine?
In addition if I give the lot number to the park owner, she will just contact them directly, so where does that leave the situation?
I am not new to investing in homes, but I am new to investing in mhs.
Re: please advise with this park owner. - Posted by shawn sisco
Posted by shawn sisco on January 07, 2009 at 15:30:14:
When people don’t understand they say no. I would try to set up meeting around 11:30 am, be there with some real tasty carry-out food. Go through it all again with her(you have a small finance company…)Good Luck!
This woman is about 2 hours away from me (at her 2nd park.) She said she has the ability to fix up properties and sell at a rate of x % and hasn’t had a chance to fix up the ones that are vacant. So she doesn’t want to sell those to me.
Ok, I accept that.
The one I want is owned by someone in the park. So I can proceed to tell her lot etc. w/o the contract because the woman who owns won’t give me a contract yet let alone see the house yet, or I can not give the lot # and ask for the blessing of the park owner for what I will be doing.
Or, I could drive 2 hours down to see her even though she thinks we will be chatting over the phone.