SE Florida MHI's...lets get together - Posted by Michele (FL)

Posted by Michele on June 22, 2004 at 05:31:29:

I put you on the evergrowing list!

SE Florida MHI’s…lets get together - Posted by Michele (FL)

Posted by Michele (FL) on June 20, 2004 at 11:20:57:

Hi there…looking for folks in this area that want to meet and brainstorm on MHI. I am in Boca. I would like to do two things…buy and sell mobile homes, and buy a park. I really want to buy a MH in the Keys…need some ideas on financing for that…seperate post. If you are interested let me know...rxbocasales@aol.com I am sure there are a few of us in the area newbies and experienced investors…

Re: SE Florida MHI’s…lets get together - Posted by Kath Holmes

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Re: SE Florida MHI’s…lets get together - Posted by Daniel Scholz

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Re: SE Florida MHI’s…lets get together - Posted by Mike G

Posted by Mike G on June 21, 2004 at 16:27:43:

Michele - If you get a group together, send me an email. Would love to join. I’m in Miami and have been thinking about getting involved in MHs for a while.

Mike G
mike@cash-4-house.com

Re: SE Florida MHI’s…lets get together - Posted by Rich[FL]

Posted by Rich[FL] on June 21, 2004 at 14:41:10:

Michele - I know we’re not in S FL, but there is going to be another “meeting of the minds” in July. We had one a few months ago in Gainsville and decided to do one about every 6 months. Greg Meade seems to be the main “honcho” of these things…so far. The next one is July 17th here in Panama City to catch the northern FL people, plus others from AL and GA (and anyone else who wants to come visit the “world’s most beautiful beaches”!)

Here a link to the original post: http://www.creonline.com/mobilehomes/wwwboard4/messages/39101.html

In case anyone is interested, there’s one MH park locally here I was trying to pick up for myself but the seller decided to raise the asking price from $895k to $1.1mil as I was doing my due diligence. And here I was thinking of offering him no more than $600k! It’s still listed on Loopnet (since Jan 04) with the incorrect statement that there’s a playground. There isn’t; the space is there, but the owner took out the equipment because of liability. Just one of the many “gotchya’s” with this park. We can make a field trip there to look around if anyone is interested. I’ll have to touch base with the park manager first though.

Rich

Re: SE Florida MHI’s…lets get together - Posted by Jeff K.-FL

Posted by Jeff K.-FL on June 20, 2004 at 21:10:52:

Same here, let’s do it! I sent you an email.

Re: SE Florida MHI’s…lets get together - Posted by Vivian (FL)

Posted by Vivian (FL) on June 20, 2004 at 15:34:01:

I would love to get together, I am in
Coconut Creek, but I am currently on vacation in Kansas, will be back June 30,
Hope to meet with all.

Re: SE Florida MHI’s…lets get together - Posted by Michele

Posted by Michele on June 21, 2004 at 18:03:27:

We are shooting for July 8th around 7 pm…location to be determined…I will keep you all in the loop! Thanks

Re: SE Florida MHI’s…lets get together - Posted by Robert Cunningham

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Re: SE Florida MHI’s…lets get together - Posted by Nell Manecke

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Re: SE Florida MHI’s…lets get together - Posted by Michele

Posted by Michele on June 21, 2004 at 18:09:46:

Hey Rich:

That sounds great, the timing and distance would be a problem for me this time, but I would love to come another time…never been to the Panhandle…good deals on preconstruction up there too. Lets keep in touch and we can share notes…ps…do you have your dealer license? That is the glitchy thing here in FLA…might be something to think about for each group…

Re: SE Florida MHI’s…lets get together - Posted by Tom-FL

Posted by Tom-FL on June 21, 2004 at 21:14:55:

Keep me in mind also

Re: SE Florida MHI’s…lets get together - Posted by Rich[FL]

Posted by Rich[FL] on June 21, 2004 at 18:37:53:

I understand that it would be a ways to go up here from S FL. It took me 13 hrs to drive up here from Key West one year!

The original idea I believe behind the “meeting of the minds” that Greg pulled together (I think the last one was in Feb) was to pull local MH investors together to share ideas. Ernest Tew came to the first one in Gainsville - easy for him since he lives right there in that area. There’s been some rumors he may come up to this one also. Haven’t heard any definite word on that. Steve Case from Warner Robins will probably be down also. Like Ernest, he knows a lot about investing through self-directed Roth IRAs. I bet the next meeting of the minds will be hosted somewhere in S FL for all the folks down there.

No dealer license for me up here. I am a big proponent, as is Ernest Tew (where I got my info from), of doing lease-options on the MHs; that neatly “circumvents” the MH dealer license requirement here in FL. I looked into getting a license before, but as many have pointed out, the requirement to have a lot large enough to park and show a MH (which we Lonnie dealers obviously don’t have or need) and the need to post a $25k surety bond put the breaks on that idea real quick. I did take the class when I had some free time (it was free) but I didn’t get the license for obvious reasons.

There is a lot of construction going on up here especially in the beach areas right now. I saw an ad in the newspaper where someone is offering preconstruction price for 3 townhouses at “only” $415k; after construction price will be $450k. Probably be hard to rent to cover mortgage; only way to “maybe” make it work would be to 1) put $100k down to get a smaller mortgage or 2) do a vacation rental where you might be able to get $1k/wk with the rental companies taking about 50% of that. Not sure I want to tackle the vacation rental market just yet .

Good luck with your meeting down there and hope you share with the group what great brainstorm ideas y’all come up with down there!

Rich