Posted by Steve on February 20, 2002 at 14:33:36:
I was skeptical of Lonnie deals too. I have been buying and selling houses, and thought dealing in “trailers” was a step above being a slum lord.
Then a friend of mine got DOW and started showing me the returns on investment that were possible. I was somewhat more interested but not yet convinced. We then found a real dump MH (or so I thought), bought it for less than $2k and in less than two weeks had it sold for $7k with $1k down and $300 per month. After punching the numbers in the calculator, I learned what Lonnie said was true…“good enough”. Now I really like these deals because they are so easy to turn and the yields are exceptional.
I run these deals through a corporation and the corp’s bank account.