DW Lonnie deals


#1

Hi All

A park owner wants sell me 2 DW’s in his park. He is doing a repossession so they will be empty soon. He has been very open to negotiation and I am pretty confident that I can get a customized, longer term lease, and he has agreed to buy the units back from me if he sells the park, or for whatever reason they have to be moved.

DOW warns against doing DW deals. I just wanted to see if anyone here has had a positive experience with DW Lonnies either as a dealer or park owner.

My inclination is to try every angle before just walking away. Especially since the owner has 16 more owned units that he wants to get off his hands, and we have started discussing his selling the park as well.

The park is a well located, high demand, turnkey style park.

Heath


#2

Doublewides are the best sellers for me in our park


#3

I think these units will sell, and I should be able to get 5K or more down pretty easily, possibly up to 10K. I think the concerns outlined in DOW were cost to move, and lower returns due to cost of units. The owner originally wanted 20K per unit(note).

I am wondering if there are other concerns that may not be obvious to a newbie like myself.

I’d like to create a note that I can sell, maybe sell one and keep the other.

Heath


#4

How big is this park? Why dont you try to buy it and have full control of the notes. This owner seems to be motivated based on the fact you say he wants to get rid of his other park owned units. If you pay $20K for the homes how much are you selling the homes for? With a $5-10K down payment your cost bases is not going to be very high and your return should be great. How many months of payments will it take for you to fully recover your investment? I am in NC and would love to collect $5-10K down payments on DWs. My cost is about $25K I sell for $39K @ 12.9% with a $3K down. I will do these deals everyday if possible. Let me know if you want a buyer/joint venture for this park.

Rick Ewens