All Forum Posts by: Marc Faulkner

Teri,
If an owner wants to sell they WILL provide you with everything needed for the investor to make an intelligent decision. If the seller won't caugh up the info needed then they simply are not a motivated seller. One lesson I have learned well over time is that you will never buy or broker a note when the seller is not motivated.
If you were holding a note for sale and NEEDED cash wouldn't you give potential buyers everything they might request in order to get the note sold and get the money?

I have several manufactured homes in vaurious stages of rehab and needing work. I am looking for a go getter willing to do the work and provide supples for 1/2 ownership. If you are interested and local, please give me a call and I will show you what we have going on.
Live!
Marc

We can check credit as long as we have a copy of the note and a ss#. Note buyers do not need the payers permission when doing due diligence on an investment.

I just reported myself and it worked!

Are you kidding me? Josh if you are not getting kudos left and right for this sight then something is wrong!!!! BiggerPockets.com ROCKS!
PSST: I would actually like to keep my contacts private period. I can understand why some folks would want to share " colleagues " and show off how many people they know and conections they have. Personally I would rather not show my contacts on my page at all...... Sometimes it is not what you know but, WHO you know and I personally don't need anyone knowing WHO I know. Why would I?

I hate to say it but, it's not sold until you have that down payments in hand and they are approved by the park. I hope this works out for you. I wouldn't take any less than 10% down.

Thank you for making BiggerPockets a better place Josh. We do appreciate all that you do here!

Sorry I know this thread started out talking about Lonnie Deals but, we somehow got to talking about land/homes!

We are talking about Land/Home (lot is included in sale) Deals here Mike which are a little differnt than Lonnie Deals where the homes are located in manufactured home communities where the lot is leased.
"How many miles away is this home from you if I might ask?" I was just talking in genearal about what I can pick up land/home deals for in my area. I have been able to find a few of these less than 10 miles from my location that are going well. I usually won't mess with a home older than early 90's regardless of weather or not it is in a manufactured home community or on its own land unless it is a slam dunk.

We have actually traded millions of dollars worth of Texas chatel paper over the years and I understand the process there well. Check out the reccomendation from Mitch Stephen on our site and then check out Mitch.
No offense but, your method seems like a bunch of extra hassle to me. The park manager puts up late notices if someone is late paying the lot rent regardless, it's part of the job. I don't see why you need to take on the extra layer of responsibility when this should fall into the hands of your buyers the same as insurance and all maintainence. This is the advantage of being the bank vs. the landlord. Parks are offering incentives all over the place if you ask for them. I agree with you that there is no reason in working in a community where the management or owners are not making it easy for you to do business there!