Posted by Jake J. in MT on October 24, 2003 at 14:19:06:
It’s el cream de le crop! It’s why I’m here and why you are here and why the Mobile Home Forum is here. A Lonnie deal is (I suggest reading his book, Deals on Wheels, or better known as DOW) simply wholesaling then retailing a Mobile Home (MH). You make $ in a few ways. You are simply helping someone out in need, (and they are always out there) getting them out of their current MH quickly with little cash.
-First, you find your home from someone in need and aquire it at a great price (becuase they’re in need of quick cash or indebtness or whatever the case!)
-You then simply find a buyer through SELLER FINANCING! In this way, you help another in need (we need a place to hang our hat, and quick, and with little down). You accept a small down payment and take a note at a large % interest (usually the 12.5% standard). You are simply RETAILING the MH for much more than you payed and anyone in need will gladly accept (because they’re in need and you’re a friend indeed (willing to finance))!!):
You then can sell the note and cash out quick if you so desire.
This should help some, but do read his book!!!