Posted by Byron in Desoto, TX on November 16, 2008 at 15:09:05:
Thanks, Karl. I’ll begin to do just that.
Byron
Purchase Attempt or Not!! - Posted by Byron in Desoto, TX
Posted by Byron in Desoto, TX on November 15, 2008 at 09:15:34:
Hello everyone. I was out this morning searching for Lonnie deals and came across a park that had a 1997 3-bdr , 2-bath for $8,000 (the buyer couldn’t recall the dimensions at the time). I just finished speaking with the seller and she advised me that the lowest should could go would be $6500. I also spoke with the property manager and inquired about doing Lonnie deals on the property. She said that the owner had first dibs on any property for sale and that he wasn’t too fond of a 3rd party coming in and making these types of deals. Does this sound like a mobile home park that I should attempt to do business in or should I simply dismiss this particular park altogether and try elsewhere?
Re: Purchase Attempt or Not!! - Posted by Tony Colella
Posted by Tony Colella on November 15, 2008 at 15:47:49:
You answered your own question when you wrote,“She said that the owner had first dibs on any property for sale and that he wasn’t too fond of a 3rd party coming in and making these types of deals.”
You are trying to play on someone elses playground. You are lucky to learn this now so don’t feel bad. Learning it after you have bought the home hurts a heck of a lot more.
Tony
More than one way - Posted by Don-NY
Posted by Don-NY on November 15, 2008 at 16:48:56:
to skin a cat. I would gladly give the seller the 6500 and throw Byron 500+ for the lead and move this home to our park. If she will take 6500 and the PO is still not biting he is waitng her out.
Re: More than one way - Posted by Tony Colella
Posted by Tony Colella on November 15, 2008 at 17:54:32:
True and good point. I would still offer the new investor caution in taking on a mobile home to move as a first deal but you are absolutely correct that when a park owner or manager interferes with a Lonnie deal, we may have to move the home.
Tony
Re: More than one way - Posted by Byron
Posted by Byron on November 15, 2008 at 17:26:45:
Thanks for the reply guys. I really appreciate it. I’ve been trying to do a deal for at least the past 3 months with no luck. There are several parks in my area, but I haven’t seen too many homes up for sale. Guess I’m gonna have to just hang in their and keep my feet to the pavement.
Re: More than one way - Posted by Karl (Oh)
Posted by Karl (Oh) on November 16, 2008 at 13:15:21:
“I haven’t seen too many homes up for sale”…
Byron,
Some of the very best deals never have a for sale sign in the window. Your first step should be to find a park manager who will work with you. Then, with the PM’s help, deals will start finding you.
Karl