Help on a Lonnie Deal - Posted by Eric

Posted by Jacob on March 02, 2000 at 18:48:48:

Boddiford has been reccomended to me quite a few times, but you are right, a lot of his material is state-specific.

As far as Mr. Tew goes, he may not be the “King of Mobile Homes” but his materials are quite informative and complete. I’d like to see more from him on strictly buying and selling, instead of the park concentration. But, the stuff is great and I highly reccomend it. The only drawbacks I see are this. The price (includes software) and the fact that you kind of need to know a bit about mh’s to start. THe major appeals of Mr. Scruggs’s books are the price and the focus on the un-initiated. They work, and have introdced many (including myself) to the land of mh investing.

Talk to you later,

Help on a Lonnie Deal - Posted by Eric

Posted by Eric on March 02, 2000 at 11:03:07:

My wife and I just got back from the conference on Wednesday (we visited relatives). Last night we found two mobile homes in the same park for sale. They are both evictions. The first unit is a 1972 14x55 for $5,000 or best offer. The second is a 1985 14x55 for $8,000 or best offer. I have not read “Deals on Wheels” yet (it’s on order), but after the talks at the conference and lenghthy discussions with Lonnie at the round table, I feel ready to try my first deal. However, I think I might need a little guidance. Any help?

Personally I would… - Posted by Dirk Roach

Posted by Dirk Roach on March 02, 2000 at 21:25:47:

wait till I got the books, read them, and understood them. Lonnie’s materials are an excellent guide and will give you the in’s and out’s of used mobile home finance.
Trouble is patience. It’s good to be pumped up, but you want to channel that eagerness into a positive result.
That being said, both deals you mentioned may have potential. Personally I like the phrase “or best offer”. Of course they may not have potential if you play it wrong.
That’s what makes Lonnie’s materials good. They show you how to “play” it.
Also remember, never fall in love with a deal. Emotion has no place in analyzing a deal.
Good luck to you,

Read the books - Posted by Jacob

Posted by Jacob on March 02, 2000 at 12:06:36:


Enthusiasm is a wonderful thing, and will set you apart from the pack. It can also bury you in some pretty deep holes.

As simple as these deals are (maybe their best feature) you still need an idea of what you are doing. Maybe not the best books ever written on the subject, they are however much better than not having anything.

The other thing I might mention is the price rang you should be considering. $5000 is an extremely high price for a 1972 14x55, no matter what market you are in. I’m not sure I’d pay that much for the same unit 10 years newer. That’s another key thing the books will teach you.

Learn the basics, then attack your market with a vengance.

Good Luck,

I know of no other such books! - Posted by RobertR CO

Posted by RobertR CO on March 02, 2000 at 16:22:08:


In response to your following statement:

“Maybe not the best books ever written on the subject…”

Lonnie’s are the only books on the subject. That is why the call this stuff Lonnie deals. Lonnie first did the deals, wrote the book(s), and then these owner financed mobile home deals were named after Lonnie Scruggs.

Lonnie did not invent owner financing. He systematized and simplified it for mobile home deals in a way that simpletons just like you and me can do it. No other real estate investment guru has a “deal” named after them. Does that tell us something?

Sorry if my tone is abrupt. It has nothing to do with you, Jacob. Perhaps it’s a cranky day for me.


RobertR CO

Actually, there are - Posted by Jacob

Posted by Jacob on March 02, 2000 at 16:51:23:

Hi Robert,

Hadn’t heard anything from you in a while. Hope things are well.

This site sells materials by Ernest Tew. His materials lean heavily on the topics of running a park, but the concept is based on owner-financing a home. Last I checked, Mr. Tew was doing mh deals long before Mr. Scruggs ever thought of it. I get that from both men’s materials.

Also, Dyches Boddiford (I may have spelled it incorrectly) is another highly-regarded mh investor and has some great materials avalible. Again, the focus is on owner-financing.

Without dis-respecting the man in anyway, Lonnie is not the only one doing them, and quite frankly didn’t originate the idea of owner-financing mh’s. He is simply the best known and his materials are more popular. His stuff is a good intro, and I regularly reccomend them. However, they aren’t the best (in my opinion) and definitely not the only option.

Take Care,

I thought you might come up with other books. - Posted by RobertR CO

Posted by RobertR CO on March 02, 2000 at 17:49:15:


I am doing well, thank you. I forgot about Boddiford’s stuff. Five years ago I attended a Mobile Home seminar done by Lynn Zenoble and him in Atlanta. Same stuff with a slightly different angle oriented to Georgia law and their market. When I last spoke with Mr Boddiford, 3-4 months ago, he was not focusing much on MH deals.

A few years ago, I bought the Ernest Tew book “Get Rich Helping Others” and promptly lent it out before reading it. Looks as though I will have to reclaim it or re-buy it and certainly read it.

Cordially, Robert