I'M IN LOUISIANA AND CURRENTLY I'M GETTING A LIST FROM A DEALER FOR OAKWOOD HOMES BUT I KNOW THERE ARE OTHER LIST. SOME ONE SAID TO GO TO LENDERS BUT HOW DO YOU FIND WHO LENDS OF MH
Quote:
On 2003-08-06 01:14, FLMobileHome wrote:
Depending on what state you are in I might be able to help you out on this please contact me if you are still interested in this.Paul
I'm wondering if anyone has a source for WI. I did read Shawn's response of check with local Mobile Home Park managers, then your MH dealers, then check with finance companies that lend on MH's, but I was wondering if anyone knew of a list of dealers or foreclosers specific to M/Hs for the WI area.
Thanks
I had an RE Developer contact me about going in on some MHs here in Michigan.
He said my BUY price on MHs 1999 -2002 Double-wides would be $15K!!!
I know they run an avg of $35-55K wholsale...being the curious sort that I am...I GOOGLED MH Lenders like DAVE REI suggests and soon found out who his SOURCE here in MICHIGAN was:
CONSECO via GREENTREE mortgage ...
Conseco is in BK and is currently receiving 500+ a month in REPOS for MI...
(THEY HAVE Ofc.s in YOUR STATE TOO)
RIGHT NOW Greentree is selling approx. 150 to 300 per month ...I FOUND THEIR MICH OFC By DOING A WEBSEARCH GOOGLE!!!
Now I am on their Inves tor Email-list and each month they send me a new list , and if I choose to invest in MHs, I have several hundreds to choose from.
Here are the simple steps to finding mobile homes at wholesale or below wholesale prices.
1. Contact local dealers in your area for the names of the Finance Companies that they use. Do not deal with the dealer themselves in buying the homes. Even if they are advertised as Repo's, hardly ever are they at repo prices.
2. Once you have the names and phone #'s of the Finance companies, Call them and ask to speak to someone in Recovery. This person will put you in touch with the person that handles the sales and liquidation of all repos.
3. Let them know that you are an investor and are interested in purchasing thier Repos. Ask for a list of current inventory with addresses where they could be viewed. Also ask for the "FLOOR BID". This is simply the starting bid price which you will bid up from there.
If you do your homework, you will be buying these units at a highly discounted price. Remember that the finance companies are not in the business of storing mobile home. They are in the business of financing and should be receptive to you inquiry. They want to unload them quickly to avoid accumulating fees. Also keep in mind that many of these banks and finance companies will put you on a mailing list and offer you the opportunity to bid on future Repo's!!!
One more thought to add to the repoman is that many times the MH owner does not own the lot. THis means that the foreclosing party has to pay lot rent...
THis = a motivated seller
I just read the response from DaveREI to my question regarding WI lenders.
I have gone on the internet and checked out lenders. I'm also VERY new. I'm sorry if I have offended you.
Don't worry about offending anyone, there are a lot of ego's out there and for some reason people like to sound "superior".
I have worked on the MH scene as a tiny part of my business and have placed 20-30 in a years time. Though located in a small town about three times the size of Middleton ID we work in three states.
I have found the best deals have come through #1 private sellers who placed adds in the paper. #2 dealers frequently have homes to place where they pull one out and put one in.
#3 Many mfg. plants will take the old homes in trade and at times have inventory that you can buy for $500 up.
Typical cost to move a mfg home in our area is 3-5k
I would opt for the motivated seller already in a park.
My brother has done a number of these and doubled his $$
A final thought, "really successful people want to help others be successful too" you can often differentiate the truly successful from the wannabe by his willingness to help others.
Randall
any leads for washington state repos? I have some lots I would like to put some on. Not really sure who the big players in my state are or how to contact them. Would really like to pull the trigger on a couple before rates go UP some more. Thanks in advance.
Start with your local Mobile Home Park managers, then your MH dealers, then check with finance companies that lend on MH's.
Good Luck,
Shawn(OH)
Depending on what state you are in I might be able to help you out on this please contact me if you are still interested in this.Paul
Have you got any repos in Missouri, I'm looking for a Doublewide for my lake lots.
I'M IN LOUISIANA AND CURRENTLY I'M GETTING A LIST FROM A DEALER FOR OAKWOOD HOMES BUT I KNOW THERE ARE OTHER LIST. SOME ONE SAID TO GO TO LENDERS BUT HOW DO YOU FIND WHO LENDS OF MH
Quote:
On 2003-08-06 01:14, FLMobileHome wrote:
Depending on what state you are in I might be able to help you out on this please contact me if you are still interested in this.Paul
To: flmobilehome freshman investor:
I need help finding who the mortgage holder is on a repo sitting on a lot in SC. The manager of that lot is not helpful..email
Thanks
[ Edited by peedee on Date 09/12/2003 ][ Edited by peedee on Date 09/12/2003 ]
I'm wondering if anyone has a source for WI. I did read Shawn's response of check with local Mobile Home Park managers, then your MH dealers, then check with finance companies that lend on MH's, but I was wondering if anyone knew of a list of dealers or foreclosers specific to M/Hs for the WI area.
Thanks
Start thinking!
Go to the web....
find lenders... then M/H lenders... you have your sources.....
DaveREI:
Is K-REKT once again.
I had an RE Developer contact me about going in on some MHs here in Michigan.
He said my BUY price on MHs 1999 -2002 Double-wides would be $15K!!!
I know they run an avg of $35-55K wholsale...being the curious sort that I am...I GOOGLED MH Lenders like DAVE REI suggests and soon found out who his SOURCE here in MICHIGAN was:
CONSECO via GREENTREE mortgage ...
Conseco is in BK and is currently receiving 500+ a month in REPOS for MI...
(THEY HAVE Ofc.s in YOUR STATE TOO)
RIGHT NOW Greentree is selling approx. 150 to 300 per month ...I FOUND THEIR MICH OFC By DOING A WEBSEARCH GOOGLE!!!
Now I am on their Inves tor Email-list and each month they send me a new list , and if I choose to invest in MHs, I have several hundreds to choose from.
ALL @ DEEP DEEP DISCOUNTS!
THANK YOU MR. INTERNET INVENTOR!
You Really Got Me All GOOGLE EYES!
I hope this helps!
Derrick Ali
iceman,
Here are the simple steps to finding mobile homes at wholesale or below wholesale prices.
1. Contact local dealers in your area for the names of the Finance Companies that they use. Do not deal with the dealer themselves in buying the homes. Even if they are advertised as Repo's, hardly ever are they at repo prices.
2. Once you have the names and phone #'s of the Finance companies, Call them and ask to speak to someone in Recovery. This person will put you in touch with the person that handles the sales and liquidation of all repos.
3. Let them know that you are an investor and are interested in purchasing thier Repos. Ask for a list of current inventory with addresses where they could be viewed. Also ask for the "FLOOR BID". This is simply the starting bid price which you will bid up from there.
If you do your homework, you will be buying these units at a highly discounted price. Remember that the finance companies are not in the business of storing mobile home. They are in the business of financing and should be receptive to you inquiry. They want to unload them quickly to avoid accumulating fees. Also keep in mind that many of these banks and finance companies will put you on a mailing list and offer you the opportunity to bid on future Repo's!!!
Hope that helps!!
Repoman
One more thought to add to the repoman is that many times the MH owner does not own the lot. THis means that the foreclosing party has to pay lot rent...
THis = a motivated seller
I just read the response from DaveREI to my question regarding WI lenders.
I have gone on the internet and checked out lenders. I'm also VERY new. I'm sorry if I have offended you.
Don't worry about offending anyone, there are a lot of ego's out there and for some reason people like to sound "superior".
I have worked on the MH scene as a tiny part of my business and have placed 20-30 in a years time. Though located in a small town about three times the size of Middleton ID we work in three states.
I have found the best deals have come through #1 private sellers who placed adds in the paper. #2 dealers frequently have homes to place where they pull one out and put one in.
#3 Many mfg. plants will take the old homes in trade and at times have inventory that you can buy for $500 up.
Typical cost to move a mfg home in our area is 3-5k
I would opt for the motivated seller already in a park.
My brother has done a number of these and doubled his $$
A final thought, "really successful people want to help others be successful too" you can often differentiate the truly successful from the wannabe by his willingness to help others.
Randall
Randall-
I'm realizing that M/H are very different from regular homes.
Thanks for the help!
Myu brother is a professor at Stevens Point in your state.
Randall
Derrick
Would you mind PMing me the URL on the Greentree & Conseco Mobile Homes?
I googled almost every term in your post and could not find much info.
Thanks
MIke
[addsig]
any leads for washington state repos? I have some lots I would like to put some on. Not really sure who the big players in my state are or how to contact them. Would really like to pull the trigger on a couple before rates go UP some more. Thanks in advance.