Was wondering if anyone could give me some info. on who does a good job explaining mobile home investing? books, dvds, etc…
Lonnie Scruggs has a good book called “Deals on Wheels.” He buys mobile homes really cheap, fixes what’s necessary, and then sells them to people and holds the note. Most people can’t get financed for a mobile home so seller financing is a good option for them.
Definitely Deals on Wheels by Lonnie Scruggs. Also, Invest in Debt by Jimmy Napier. Although it does not specifically talk about mobile homes, it teaches how to create deals that you can use for mobile homes, cars, boats, trucks, business equipment, etc. Jimmy’s book is out of print but I believe you still can find it online for resale.
I’ve used these two books over the past 20 years to invest and to mentor new investors. In this economy, investing in small deals is a sure way to make money on quick types of transactions.
Lonnie refers to one of my mobile home deals in one of his early chapters of his book. Buy his book and use this method and you will learn how to become wealthy.
Rob
thanks rob your comment encourages me to buy that book and I will try hard to learn the tricks to earn more. Thank you…
Remember that Lonnie’s books will show you how to structure deals, but the real genious behind these deals is funding them through individual investors. Lonnie typically will invest his own money in a deal which can make a person very wealthy as these deals are creating notes at 100% + yields.
When you start out though without much or any money, you need to sell these notes to buy groceries and pay your light bills! Learning how to resell the notes as I do to individual investors inside their IRA plans has worked well for me over the past 20 years. There are $7 Trillion in IRA funds and much of those funds could be used if you sell your notes at a competitive rate such as 18%.
Create a note at 100% yield and selling it at 18% yield can make you a fortune! At some point, you will have more income than bills at which point you can create the 100% yields and keep them, just like Lonnie does, as explained in his book Deals on Wheels.
Rob
I also highly recommend Lonnie Scruggs’ book, “Deals on Wheels.” It’s a really good book to learn about mobile home investing. It’s been one of the best investments I’ve ever made. I still read it over and over again. Hope that helps!