Newbie; had never considered mobile homes!... - Posted by Jeanne

Real Estate Investing Mobile Homes & Mobile Home Parks
1

Posted by Dan(MD) on October 15, 2003 at 12:08:21:

First things first, buy Deals on Wheels by Lonnie Shruggs you can get it on this site for 30 bucks…read it a couple of times, then read everything on this board, then you can start

Dan

2

Newbie; had never considered mobile homes!.. - Posted by Jeanne

Posted by Jeanne on October 15, 2003 at 11:47:55:

…and the reason why I never would have thought of this, is that I always was under the impression that they depreciate like crazy. Am I wrong here?

For example, saw a mobile for sale in the paper today; very motivated seller…he’s asking 20k or best. So, automatically, he’d likely take 15 or less…yes?

So how would I buy that…then make a profit? Rent that bad boy out? There’s only so much you can do to ‘fix them up’ right? Please excuse my ignorance but I’m very anxious to know. Thanks!
Jeanne

3

Re: Newbie; had never considered mobile homes!.. - Posted by JeredWA

Posted by JeredWA on October 15, 2003 at 12:29:16:

Here is a good way to start:

  1. Read through the archives. The search tool helps zone in on topics of interest.
  2. Order a copy of “Deals On Wheels” (DOW)
  3. Read DOW at least twice. Let it sink in.
  4. Go do a deal.

And remember: ignorance by itself will not cause you to fail - lack of action will.

Good luck,

Jered