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Mobile Home Investing - Need Help Please

Posted on: Thu, 08/19/2010 - 20:38
Mobile Home Investing - Need Help Please

Hi,

I am new to investing and was wondering if anyone could tell me if mobile home investing is a good idea. I called around to the lenders in my area and they are all saying that they don't lend on mobile homes if they have been moved. All of my searches so far in my area are mobile homes that have been resold and moved to another piece of land, so that means I will have to owner finance and in turn owner finance to my buyers, but not sure if mobile homes are they way to go.

Help need input please.

Thanks
Suzie

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Posted on: Fri, 11/09/2012 - 19:55 #1
Are mobile homes good investments?

Unless you buy a new mobile home from a dealer it cannot be financed, so is this a good idea to invest in mobile homes? In my area that is what we have around here but no one seem to want to finance them.

Help please any input would be greatly appreciated.


Posted on: Fri, 11/09/2012 - 20:11 #2
2 books

"Deals on Wheels" - Lonnie Scruggs
"Making Money with Mobile Home Notes - Tin Can Alley" - David Butler

Mobile home investing can be a very profitable niche. These two books are pretty much the bibles of mobile home investing.


Posted on: Fri, 11/09/2012 - 23:30 #3
Mobil Homes

Hey Suzie,
Dawn Erling is the woman you want to talk to, she had great success with mobile homes and knows exactly how to invest in them.
You can reach her at the advisory line and she had a great presentation at the Edge 11, hopefully you've got access to the recordings.
Have at it.
Thomas


Posted on: Sat, 11/10/2012 - 06:43 #4
Nancy B

Hi suzi O Mobile Home Are Good for Cash Flow. Rental. or lease to own.
Or If you buy a Mobile Home Park. Great Profit. THe Profit is in the Rental.

And you can have a camp ground if you like. Thanks Nancy B


Posted on: Fri, 11/30/2012 - 23:47 #5
Suzie - Follow what I'm doing, it works like a charm

I just sold a mobile home property yesterday. The seller gave me 1K down and I'm carrying a contract with them for 6 years. over that time I will make about 15K on the deal.

They are lower rise, great for cash flow and they are worth investing for sure.

Follow some of my deals and you can see how they are done.

__________________

I always say Keep Moving Forward! Never Give Up On Your Dreams!

As Matt Larsen says "Feed the Need" - Edge 2013

Follow my daily investing journal and read about the deals I've done and am working on at:

http://www.deangraziosi.com/real-estate-forums/investing-journals/117493...


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