All Forum Posts by: Marilyn A.

Edited to remove double post

Congrats on getting more homes. I can't believe the prices. The only deals I can find remotely close to being that cheap have to be moved. I'm going to keep looking, though.

Keep us posted on how things go.

I wonder if you could network with other investors? Surely they're getting lots of leads they're not interested in. Maybe you could pay them a fee for their unwanted leads.

Donna,
I'm a newbie looking for my first deal myself, so definitely no authority. But it sounds like you're doing all the right things. Just continue and you will find something, I think.
I don't know about where you are, but it seems like lots more are for sale now than were a month or more ago.
I think the spring weather gets people thinking about getting rid of things.

Thank you, Terry. I will be careful.
I'm afraid that if I don't take action soon, I will never do it.

Thank you all for the help and advice. I do appreciate it.
I am still working hard to buy my 1st. But it seems a lot more are being advertised for sale the past couple of weeks, so that's good.
I've actually seen several ads for free homes and looked at some yesterday. Problem is, they have to be moved. So, I decided not to get one of those, since the cost will be comparable after moving and set up to one already set up.
Have had 2 sellers contact me back. One lowered his price a bunch (but it's still too much for me). I had made an offer with terms, but he wasn't interested. However, he is motivated, and he may still change his mind.
Then had another seller contact me (after 3 weeks) wanting to accept my offer with terms. Now I have to decide if I want it after all.
My plan is to buy SOMETHING this week.

I see you survived tax season and jumped right back into investing. I bet you're tired!
I hear you on the parks. I drove through one today that was so bad I wouldn't even stop to look at the home for sale.
I know I won't be able to get in a nice park with my measly amount of cash. Oh well. I don't have to live there, do I?
On the MH:
When I saw the first few pictures I was thinking "this is nice!" but then things got ugly with all the water stains and the cabinets.
At least she sounds like a very motivated seller. I bet you can get a great deal. Maybe consider selling as a handyman special and not doing the repairs? Well, maybe seal the roof.

Hi,
I'm certainly no expert and don't own any MH parks, but I did look at one for sale that had 10 spaces in one acre and it was very, very cramped. I would think 4 would be about max for a half acre.

Mike C,
Thank your for the long and thoughtful post. I'm going to print out the whole thread and read it over several times. I really appreciate the help!! Yes, a motivated seller is what I need. I saw three MHs today, but I think only one was motivated. And I don't want to buy that one because it has been gutted and it has to be moved, so that would be too much investment and labor in that one.
One I saw was a 3/2 already in a park and the outside was lovely, but the inside was frightening. It was very clean, but needed lots of floor work, everything was dingy, the ceiling had hideous water stains. Plus it was $5000. I'm not sure how motivated that seller is. He wasn't there, I only talked to him on the phone before I went. I may call him up next week and see if he's getting more motivated.
Then I saw one for sale by a MH park for $2900. I'm having a hard time getting the appalling stench out of my mind. It was a filthy pit. It was only a 2 bedroom and needed lots of work, too.
I would like to find something that isn't SOOOO horrible.
Terry,
I see what you're saying about the $400 home. I saw one today that I wouldn't pay $400 for. It had been gutted and all the electrical and plumbing removed. Your idea of selling it for the guy sounded good, though.
I have read Deals on Wheels, but not Lonnie's other ones. I'm reading it again now. What did you think of the Making Money With Mobile Homes book? I may order that if you think it would be helpful.

You DID buy the one for $400, didn't you? That's amazing. I haven't found any like that yet, but I am not going to get discouraged. How did you find this seller?
I will keep placing ads. I like how it makes you feel like you're in the driver's seat when they call YOU.
Negotiating is hard for me. I'm kind of shy, but I think I'll get better if I keep trying.
By the way, what was the $400 home like? What number are you on now? Is it 4? Have you found that you're getting better and better at negotiating and more confident in general as you do more deals? Or maybe you started out confident?