Posted by Ronald *Starr on July 08, 2001 at 13:51:29:
Doug O (NM)------
Opps, sorry, I was typing too fast and reading too slow. I meant to say that I especially liked your last comment. I must have stuck the first last in inadvertently.
It is the wise investor who adjusts the strategy to constantly make it better. Japanese word for it is Kaizen or something very similar to that.
Good Investing*********
Well I did it this time… - Posted by DougO(NM)
Posted by DougO(NM) on July 05, 2001 at 23:02:26:
I was gonna show everyone! I did some very nice rehabs on a couple of repos I picked up from Conseco. I took a dumpy old 1987 Champion 14x70 and did a number on it, only to have it do one on me! It’s pretty, what with the tape and texture, new carpet, lino, doors and windows and very nice deck. The other is a 1992 16 x80 Spirit Gold Series, it turned out to be one of the nicer ones we’ve offered for sale, (and the most expensive) From what we started out with, they both tuned out nice, though we didn’t make much and they took FOREVER. The problem besides spending too much $ on these rehabs, is the buyers had NO idea what they looked like before, so they can’t appreciate where it’s at NOW. They keep finding little things to pick on, and guess who get’s to grin and BEAR it! On top of that, they put down alot less than I normally like to get, so I’m thinking to myself, “you folks should be happy to have the opportunity to even BE in this home.” My wife, ever the cool one, reminded me that these folks won’t be telling their friends about how we gave them the chance to get into a home and have it financed, they WILL however tell them that we took their money and then when they called to tell us there was a problem, we said get lost. (Never mind they bought as is) Anyway, she continued that we need to take care of them no matter how much we think it sucks, especially if it won’t cost us too much. Our name and reputation is worth more than a few hundred bucks. So I went out and took care of a few items that I could for them, scheduled another day to do the rest and came home. When I got home, I realized that I had failed to read the good book that morning, so I pulled it out and sat down to do so. I was scheduled to read Proverbs (I follow a system) and wouldn’t you know, it was just what I needed to read. Check out Proverbs 22, especially 1 & 2.
Sometimes you win, sometimes you learn.
DougO(NM)
Re: Well I did it this time… - Posted by Ronald * Starr
Posted by Ronald * Starr on July 07, 2001 at 14:41:14:
Doug O (NM)--------------
Sounds like you are looking for appreciation from your buyers. Of course they don’t know what it took from you to get to where you can give them what you have. Do you appreciate all the work of the electric company linepersons when you flip on your lite switch in your living room?
If you are looking for appreciation, you may want to find some other work or avocation. The important point is that you get the money and they get the coach.
Hmm. Maybe your advertisement should say “Sell only to apprecitive.”
I last like your last phrase.
Good Investing**********Ron Starr**************
Re: Well I did it this time… - Posted by Chuck (AZ)
Posted by Chuck (AZ) on July 05, 2001 at 23:06:16:
Next time… take pictures.
Re: Well I did it this time… - Posted by DougO(NM)
Posted by DougO(NM) on July 08, 2001 at 10:40:27:
“I last like your last phrase.”
Could you clarify that? It looks like you may have left out the e in least of made a mistake by including last between I and like.
Perhaps you are right! I hadn’t thought about what made me feel that way, and I now that you point it out, it’s something to think about. I don’t know what it was about these particular buyers and MH’s. I’ve been doing this a long time now and can’t recall this reaction to any other transactions.
I do know for sure that we won’t be getting involved in that level of rehab again, and stick to buying homes that need minor work for resale, and wholesale any others.
Doug