What kind of money is in this??? - Posted by Matt Kelly

Posted by Dr. Craig Whisler CA NV on September 02, 2003 at 15:19:20:

Matt, most people follow the Lonnie m.o. and buy a mobile for 3k-4k cash then resell it for twice or more that amount by financing it themselves with a downpayment of about $500 or so, and monthly payments for the balance, over 2-3 years. On such deals you should be able to make 100%-200% per year on your invested capital.

Most folks get lucky from time to time and manage to sell one for all cash. I think this is more common when you are dealing in senior only parks. Always take the all cash deals even if you have to lower your price a little to get them. Quick flips are nearly always the best choice. With these, the rate of return on your money should be in the thousands of percent, when figured on an annulalized basis.

Regards, doc

What kind of money is in this??? - Posted by Matt Kelly

Posted by Matt Kelly on August 31, 2003 at 15:01:35:

I have been reading all I can on this site for about a month or so and I think I have decided that mobile homes will be a good place for me to start my real estate investing adventure. I am going to buy Deals on Wheels in a couple of days, but I am just wondering what kind of money is in mobile homes. Is it mostly long term, you know buy a mobile home and then owner finance it for a monthly cash flow, or are there very many deals out there where you can just do a quick flip for some decent cash. I know that both situations exist, but which is most common. Thanks in advance for the answers!!!