How many different parks do you do Lonnie Deals in. I have 40 parks in my area and am currently working in just one park. I do have meetings with two other park owners who want to work with me. Do you think I should try to meet with all the owners?
Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
15y
An open line of communication between you as an investor and the MHP Owner/Manager will go far. As long as both sides understand the needs and wants of the other side and are willing to work together for a win/win situation you will do fine. Offering to take someone to lunch is a corny line from some guru book. Be a professional. Your first meeting may not go well. Schools have trained people that failure is wrong. The school system however needs to be fixed. The way you learn is by making mistakes. Tell a child a stove is hot and not to touch it and see what happens when you turn your back. They will touch it to find out for themselves that is how you learn Making mistakes and then learning from that mistake will make the next time go much smoother! I started out at 12 with a newspaper route. The paper required you to go out in different neighborhoods and knock on doors to try and get new subscribers. At first they pair you with someone who has experience. They knock on the door, do the sales pitch and you watch and learn. Next time around you need to knock and do the sales pitch. Between the next house you are critiqued on what went well and how it could be improved. When comfortable about knocking on doors and pushing for people to subscribe to the paper - you are then on your own. One person does one side of the street and other does the other side. Biggest piece of advice: Ask and ye shall receive - knock and it shall be opened to you. If you stay on the sofa in front of the TV - you will never find out what you are capable of. You can get advice from others here and other sources, but there is nothing better than actually doing something in order to learn it. In fact in Rich Dad books - it is listed as the number one way that people learn. Second is simulating - playing a game like monopoly. Bottom 2 ways of learning on the cone of learning is by lectures and reading = the 2 main ways our school system uses to teach students!
Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
15y
If the MHPs have vacant lots - it would not hurt to work with the other owners to help fill those lots. Do you just buy homes in the MHP or do you buy others and move them into other MHPS? If the Owner was smart - they would be doing all the deals in their park and there would not be any room for others. Most tie up all their money in the purchase so do not have the funds left over to do their own Lonnie Deals.
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
15y
Sometimes it's best to expand your area to get to know some of the other parks and park owners/managers. It's interesting to hear different perspectives about the business from various park owners/managers. I find each has their own way and view of doing things and managing parks. Every time I meet a new park owner/manager, I learn something new. Hope that helps!
Investor · Houston, TX · Member since 2008 · 257 posts · 58 votes
15y
How big is your area? I buy all over the state of Texas, but I only bring homes into 2 parks. I just filled the last 2 spaces in one park in Porter, TX.
If these parks are close to you. Yes do it. Just don't try and manage homes to far from your home. I have learned the hard way.
Inspector · Alsip, IL · Member since 2008 · 361 posts · 75 votes
15y
Hi Dustin, I'm from IL as well, and am looking to do my first Lonnie deal. This question is for everyone though. When you're new to mobile home investing, and trying to get in with the park managers, what do you say? Have they seen a bazillion newbie Lonnie people and think that they're hokie or are they usually willing to work with you? What's your pitch? Thanks
Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
15y
Many of the Lonnie Dealers are all talk and no follow through. After meeting several and they never come back after being given permission to work in the MHP, incentives if they move homes in, free lot rent till sell to occupant. It was all a waste of time to have even talked to them. My time is valuable also - don't waste it.
Inspector · Alsip, IL · Member since 2008 · 361 posts · 75 votes
15y
Thanks Realtyman, I was afraid of that. Now, naturally I wouldn't tell them that I just read this great book and want to turn their parks around :) But as a mobile home park owner, what would someone need to say, or how would they need to come across, to catch your attention and make you think that they are someone you would be willing to work with?
Real Estate Investor · Member since 2009 · 260 posts · 119 votes
15y
Originally posted by Joseph Ziolkowski:
Thanks Realtyman, I was afraid of that. Now, naturally I wouldn't tell them that I just read this great book and want to turn their parks around :) But as a mobile home park owner, what would someone need to say, or how would they need to come across, to catch your attention and make you think that they are someone you would be willing to work with?
Answer: Lot #97 sold yesterday and I am starting #119 tomorrow.
Bottom line is they don't care whether you are an investor or home owner at first as long as their lot rent is getting paid. After you do a deal or two they will know you are serious without you having to tell them.
Inspector · Alsip, IL · Member since 2008 · 361 posts · 75 votes
15y
Thanks Terry, that's good to know. But I'm talking about even before you have the opportunity to do that first deal. What questions do you need to ask them? Should you take them out to lunch? Would they find that strange, like you're going to sell them something? Just meet them in the office? Sorry, total green newbie in mh here :)
Real Estate Investor · Member since 2009 · 260 posts · 119 votes
15y
You could offer to take them out to lunch but I'm not so sure many will take you up on it. And if they do I imagine they would be waiting for 'the pitch'.
I just approached my first home as a regular mobile home buyer. I went to the front office to apply and took my sweet time filling it out right there. Talking and being friendly with them while I was 'filling' out my app. I told them that the home I wanted to buy needs some work but I am going to fix it up and sell it.
Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
15y
An open line of communication between you as an investor and the MHP Owner/Manager will go far. As long as both sides understand the needs and wants of the other side and are willing to work together for a win/win situation you will do fine. Offering to take someone to lunch is a corny line from some guru book. Be a professional. Your first meeting may not go well. Schools have trained people that failure is wrong. The school system however needs to be fixed. The way you learn is by making mistakes. Tell a child a stove is hot and not to touch it and see what happens when you turn your back. They will touch it to find out for themselves that is how you learn Making mistakes and then learning from that mistake will make the next time go much smoother! I started out at 12 with a newspaper route. The paper required you to go out in different neighborhoods and knock on doors to try and get new subscribers. At first they pair you with someone who has experience. They knock on the door, do the sales pitch and you watch and learn. Next time around you need to knock and do the sales pitch. Between the next house you are critiqued on what went well and how it could be improved. When comfortable about knocking on doors and pushing for people to subscribe to the paper - you are then on your own. One person does one side of the street and other does the other side. Biggest piece of advice: Ask and ye shall receive - knock and it shall be opened to you. If you stay on the sofa in front of the TV - you will never find out what you are capable of. You can get advice from others here and other sources, but there is nothing better than actually doing something in order to learn it. In fact in Rich Dad books - it is listed as the number one way that people learn. Second is simulating - playing a game like monopoly. Bottom 2 ways of learning on the cone of learning is by lectures and reading = the 2 main ways our school system uses to teach students!
Inspector · Alsip, IL · Member since 2008 · 361 posts · 75 votes
15y
Thanks Realtyman, that was an awesome answer. You too Terry. You guys are both a great help. I'm an over-analyzer for sure. Same thing before I got into wholesaling. What you're saying is true though. Just have to get out there and do it.