Hey all, I’m really wanting to get started in the MH world with some Lonnie Deals and I just cannot seem to come up with a plan of attack in terms of getting a PM on my side.
I feel that taking the DOW approach of “finding a home for a younger couple…” isnt going to work well for me given that I am 24 years old. I suppose I could sub younger couple for friend but I still feel that I dont want to burn any bridges this early in the game and should be honest about what I’m going to be doing.
I have no problem with telling the PM exactly what it is I inted to do, I just dont think they would immediately understand. So, does anybody have some type of script I could follow or just some pointers about how to approach the situation?
I’m living in Boise, ID and we have about forty different MH Parks here in the Valley. I thought that typing up something and sending it to the owners/managers about my business and how I could help fill vacancies, get more traffic, pre screen buyers, etc could be one approach. What do you think?
When I began doing Lonnie deals about 10 years ago, I too did not feel the “young couple” approach would work for me.
I just simply told the park manager the truth of my business model. We have found that many folks who own used mobile homes have trouble selling them because fewer and fewer banks are willing to finance them.
Park owners and managers often get stuck with peopel abandoning these homes on the property because they cannot afford to move them, especially those who already owe the park back lot rent.
My business was to buy these used mobile homes for cash before they became a problem for the park. I would buy them and then after the park manager approved one of my buyers to rent the lot, I would sell the home on payments to my buyer.
I assured the park manager that I would not sell the home until the buyer was first approved by the park manager.
My approach is very similar to what Tony used… Lonnie WAS looking for a home for a younger couple most of the time… Me, well almost every home I’ve sold has went to folks older or the same age as myself.
My approach is pretty simple:
Hi my name is Ryan Needler, my company buys MH’s cash and then we turn around and resale them offering financing to the end buyer stepping in where the banks have left off… I’m looking at lot ### (or for homes in this area) and wanted to make sure it would be ok for the home to stay on the lot and if the current resident owes you any money.
Then I kinda listen to what the owner has to say about the current tenant and will try my best to redirect to an off topic item like fishing, hunting, or anything else that I can pick up a visual clue about the owner… This takes the topic back away from a yes or no and makes me more human, then I will just chat for a good while with the park owner about my problem people, what they expect from their people, what kinda folks they are looking for and anything else that may transpire during the conversation.
In a nut shell you want it to be like you are talking to one of your best friends that has already told you yes when you are talking to the PM/park owner. I don’t want to be any higher or lower than them and want to be considered an equal. One thing I’ve found that really helps with this aspect is to go in dressed in grungies, (and I mean GRUNGIES) it takes the snake outa the snake oil salesman so to speak and you come across as a hard working person that can make things happen. My general attire going to look at a $500 mobile home or to negotiate a $300k park deal is the same, a pair of paint covered holes in the knees blue jeans and a paint splattered T-shirt.
You will get told no many times if you are doing things right, but it only takes a few yes’s to really make some neat things happen! Boise is a neat area and I know a couple people that are doing deals up there that boggle my mind!
One thing that jumps out at me is your last paragraph about “sending it to owners and park managers”. Nothing works better than face to face contact where you can just chat and build a little rapport. Your success rate will improve dramatically if you stop in and talk instead of sending a mailer.