First Mobile Deal in the works!

[Jeff Warner]

So I took a look at an old Mobile home that I had been talking with a seller about, but before I went out there I called the office and spoke with the park manager to see what their criteria was (thanks Cole). The manager was very cool and had no problem with my business plan so I told her I will stop into the office and introduce myself when I get out there today.

I drove through the park and noticed it was very clean and full, both good signs. The seller back peddled and wanted $2000.00 but I held firm on my offer for $1500 and requested that she leave the fridge and the A/C unit. She said she had to think about it and that she would get back to me...I was disappointed but I was not going to budge on my offer. I got in the car, did a lap through the rest of the park and stopped in the office to introduce myself to the manager. While talking with her, she told me that they had a Mobile that they just acquired and would like to sell for $1500.00, I told her I was interested and would come back (the office was actually closed so I did not want to keep her).

Just as I was leaving the office, my phone rang and the seller told me she would accept my offer of $1500...with that news I drove around the corner, go the contract signed and left. I put this deal under contract for $0.00 with 100% of the funds held in escrow until the home is vacant and inspected. I know I don't have to open escrow for a mobile but I felt it was a good step to secure the deal and let the seller feel comfortable about signing a contract with no deposit.

Thank you all for your help in answering my questions as well as posting all the solid info for me to study up on. Without you guys I would not have even considered the Mobile Home business.

Jeff

[Cole Haynes]

Jeff,

Do you use bandit signs for your homes when selling them? They work GREAT in my area! I used them a lot when I was buying and selling L/H deals. The problem was they were around $6.50 a piece at Lowes for a blank sign with a stake. Currently I buy signs in bulk but back when marketing dough was tight those signs killed me!!

I eventually found a cheaper way( I still do this when a rental goes empty or I only need a few signs). I would go to Wal-Mart and in the school supply section they sell blank "foamboard." In my area they have it in all different colors. I now buy the bright yellow foamboard for about $2.66 a board, It is a rectangular shape. If you buy 10 boards you will spend about $27. Then go over to Lowes or Home Depot and get Surveyor stakes. I think they cost about $5 for 20. If you take a box cutter you can cut the foamboard in half and make 20 signs for $26. This is the cheapest way I have found to make homemade bandit signs and the black marker on yellow board really pops. If you put all 20 out you should get flooded with calls! If I am selling a property at $250/month and the lot rent is $300/month and I want $1000 down I will have the sign read as follows:

3/2 Singlewide For Sale!!!
WILL FINANCE! Family Park
$550/month!! Just $1k Down
8 1 3 - X X X - X X X X