Hello everyone I am new to reiclub and I want to get started investing in mobile homes. Does anyone have any suggestions as to where I should start looking? Thanks I live in Florida.
Shelly
Anytime someone mentions mobile home investing, Lonnie Scruggs’ name is usually mentioned in the next sentence. He has a book “Deals on Wheels” that’s really good. He describes his method of buying mobile homes cheap, fixing what’s necessary, and then financing (holding the note) the home for the buyer. He makes profit from the difference between his cost basis in the home and his selling price & he also profits from the interest on the note too. You can do deals like this here and there or you could do it on a bigger scale and eventually buy a mobile home park.
If you PM me (click on the blue link at the top of the page that says how many messages you have to send a new message) with your email address, I can tell you more.
Welcome to the board!