Posted by Matt B on December 08, 1998 at 12:58:56:
I have bought and used Lonnie Scruggs’ books on investing in mobile homes. I have done a few deals since I finished them in October. The costs for rehabbing mobile homes is usually very small. I spent $400 on one that looked pretty junky and run down, and it now looks like it has a brand new kitchen, (paint, carpet, cleaning) new bathroom, (paint, tileboard, cleaning) new hallway, (piece of paneling) and new living room (ceiling fan and cleaning). I highly recommend the books available from Lonnie Scruggs. They will tell you everything that you need to know about investing in mobile homes, which by the way, are one of the best ways to make money when you have very little to start out with. My deals have all been mobile homes that I buy for $800 and under, then turn around and sell with financing for $5,000. Read his “How-to” articles on this site. I’m sure that will help. Also, you should try posting to News Group I. There are a few more mobile home investors posting there. Let me know if I can provide any more information. Good luck in your real estate endeavors.