027 Selling Mobile Homes with Monthly Payments When the Park Manager Says No with John and George

In today’s Mobile Home Investing Podcast episode #27, I’m very proud to welcome active mobile home investor George to the co-hosting microphone. In today’s 34-minute podcast episode we dive into a few of George’s mobile home deals, helpful tips, and what to do when dealing with a park that forbids you to resell for monthly payments.I am super proud of everything George has accomplished in such a short period of time. In only 18 months George has already been able to help multiple families purchase safe manufactured homes that they otherwise would not have been able to own so quickly. These buyers pay George every month to one-day own their manufactured homes free-and-clear in the future.Special thank you to George for being so candid in today’s Podcast in order to help other investors he’ll likely never know.What would you do? Scenario #1 (Podcast topic)Main Objection: The mobile home park manager is happy to have you in the community investing/rehabbing individual mobile homes. However the manager requests you sell any mobile home to an all-cash or bank financed buyer. No seller financing allowed in this park.The possible deal: 1999 single-wide manufactured home inside of a preexisting park. Negotiated price $3,000. Rehab costs under $5,000. Lot rent less than $600/mo. Resale value via all-cash $30,000+. Resale value via monthly payments $50,000+.What would you do?✔ A. Pass on the opportunity. This is absolutely your safest option. However if experienced, this may not be the best path forward if there is significant value to be created by helping the seller and a buyer. Do pass if this deal is your first mobile home investment.✔ B. Sell to an all-cash or bank financed buyer. This may be wise. In George’s audio Podcast below, he mentions that this particularly by-the-book mobile home park manager kept denying his all-cash buyers. This prompted George to then agree to sell to a payment-buyer as described below.✔ C. Sell to a low-risk monthly-payment buyer under the park’s radar. This may be wise if experienced and selling for cash is not a profitable option. There are certainly do’s and don’ts if you plan to not completely adhere to the park’s rules. Listen to the audio Podcast #27 below for a detailed explanation of what this may look like in your business.  The Risk? If the park manager were to find out that you are selling via payments, he/she may: 1.) ask you to remove the lien from the Title (likely), 2.) change his/her mind and allow you to sell via payments (less likely), or 3.) begin the process to evict you and the home. Eviction is less likely as the tenant-buyers are paying lot rent on-time and the manager may not want to disrupt that regular payment. Additionally, eviction is not very likely in this situation unless the park specifically wants this mobile home for themselves or feels vindictive and is punishing you.In the audio Podcast episode below John and George cover: * 2:13 How long have you been investing in mobile homes?* 2:49 Tell us about your least profitable mobile home investment to date?* 4:24 How long did this deal take to sell to low-risk end-users? Why?* 5:49 How long have your other mobile homes taken to sell to low-risk end-users?* 6:25 Tell us about your most profitable mobile home investment to date?