First Lonnie deal - Is this too much for me?


#1

I’m just beginning in the MH business. I posted a “we buy mobile homes” type ad in a free local classified. A local park manager responded that they currently have 4 homes that they’d like to sell to make room for new rentals (the park has only rentals). So I’m going to look this weekend.

My question is, assuming that we can make a deal for all 4 homes, do you guys think that this is too big of a deal for my first shot? I’m inexperienced in this area, so maybe buying 4 at once my first time out is biting off more than I can realistically chew.


#2

The first thing that jumps out at me is that the park manager wants to “make room.” I interpret this to mean that you will have to move them. In my area, you can move a S/W for around $3000 – not including hooking everything up. Lonnie said that he likes to buy units that do not need to be moved for a reason – $$$.

Does not hurt to go see them and talk to the PM. Be confident when talking to the PM. Tell him that the deal is doable, but his intial offer some thinking and you will give it some thought. Then come to this board and give us the details. We will help you out.