I know I get on my high horse a lot, but I think all of us in the mobile home biz community need to take more pride and make some more noise about what we choose to invest in. The more people I talk to the more negative, incorrect stereotypes about factory built homes. Spread the word and deals will become attracted to you. Your reputation will soon get around. Instant medium/big fish in a big lake!
In a quick week recap: I discovered an easy way for my tenant’s bank accounts to be debited every month when their payments are due. How great is that! Stop in at your bank and ask for any forms you will need to get signed.
Make sure to grab an extra blank copy of the “Automatic Debit Form” (or similar sounding name) at your bank. This extra copy will be used later to make copies. Why you ask? I will more than likely send all my tenant-buyers a copy and ask that they cooperate with our “New adjustments and improvement transitions.” Offering a $5 discount per month or a one-time credit of $20 may excite a reluctant tenant-buyer to sign up for our auto-debit program. (One down fall – NO MORE LATE FEES!)
In other news all is great on the vacancy front. 100% Occupado!
– John F.
Tip: On a blank sheet of paper list all the qualifications that your TB must have in order to be approved with you. Such as: a credit score above, no major felonies, job history specifications, etc. This will help eliminate any lawsuits in the future if anyone claims that you are screening people unfairly. File this sheet in the back of your filing cabinet and keep it safe.
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