Need Some Advice on How to Acquire

[Donna Gilbert]

I've recently started venturing into "Lonnie Deal" territory and was hoping to get a little advice from some of those that are a little more experienced in this area.

I have placed an ad on Craig's List, advertising for potential buyers, and have had no problem in that regard. I have about 7 or so lined up, waiting for me to call them with something.

My problem is trying to buy. I've left several messages and have yet to receive a return phone call. I've also tried working with park managers as well as dealers that have taken ones in trade (I was supposed to meet with a dealer today to look at one and he sold it 2 minutes before our scheduled meeting).

It seems that either the competition is pretty tight in my market or buyers are not very motivated to sell. Do I need to just show up at the door of those that are for sale with a check in hand?

Whatever advice, suggestion and/or guidance anyone can provide would be greatly appreciated.

Thanks!

[Rachel H.]

Yes, Marilyn is right. Everyone has different criteria on what a deal is - a deal to one investor may not be a deal to another. Also, I've found in this business that people have different goals and are doing different things. Some may want to buy and hold, some just want to finance, some want to lend money, etc. If you're just starting out, the best thing to do would be to learn your market and find out who the players are - you might be able to help them find some deals that match their criteria.

I wrote an article about this that may help - it's about the different avenues you can take to make money in mobile homes:

http://tinyurl.com/y3p3lhp

Hope that helps!