Community approval?

Question

Hey everyone.  I am seriously considering MH's to get me started on my investing career.  I want to know a couple of things.

1.  Is it a good idea to talk to the community managers to let them know that you do not plan on living in the MH after purchase (i.e., renting it or reselling).

2.  What is involved when getting the new owner, or renter, approved to live there.

Thanks for any input!

Claude

Cole Haynes · Answer

Claude,

You definitely want to be upfront with the manager. IMO, you want to take it a step further a get on "their side." A relationship where you are working with the manager/owner on your deals. They can do ALOT for you. Show your home, bring you deals, Bring you buyers, help you with closings, etc. Treat them right and it will go a long way! Imagine yourself doing what they do all day...

I would also recommend a cheap ($30) book called Deals On Wheels by Lonnie Scruggs. This will save you ten times the cost of the book MINIMUM.

Good luck

Terry Drake · Answer

1.  Yes, it's best to be straight forward and honest about your intentions and what you're doing.

2.  Usually a background and credit check.  I will ask What percentage or how many people out of ten do they approve to give me an idea how strict they are.  I also ask about the pet size limit since it seems most people have dogs to bring with.

Claude Hodge · Answer

Cole, thanks for your input.  I have been hearing about "Lonnie Deals".  Just hadn't gotten around to finding out what everyone has been talking about!  I will absolutely check out that book.  And, I will also take your advice.  Thanks a lot guys!

Claude

Claude Hodge · Answer

Great answer Terry, thanks a lot.  From here I think I will just go and start talking.

Claude