buying one Mobile home at a time

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francesca5000
Posts: 2
Joined: Sun Aug 22, 2010 12:42 pm

buying one Mobile home at a time

Post by francesca5000 » Sun Aug 22, 2010 12:53 pm

I'm 25 years old, a college graduate, and I have been a property manager for over a year. Right now I'm saving up money to buy my first investment property.

I can save about ten thousand a year until I'm ready for a down payment. Because I'm eager to get my cash flow going I'm thinking about buying mobile homes close to the Mexican border where they are about 30-50K (or so it seems). and then renting them out for $400/mo. If this works out I can pay in cash, or put a down payment on one within the next two-five years.

I've read a lot on this forum about buying whole parks, but has anyone purchased one mobil home at a time with the idea of renting them out?

What are the major pros and cons of this? I really want to learn a lot.

David Oxhandler
Posts: 1459
Joined: Tue Oct 02, 2007 8:37 am

Re: buying one Mobile home at a time

Post by David Oxhandler » Mon Aug 23, 2010 7:56 am

Individual manufactured homes can make an excellent investments. In most parts of the country they bring the same or very close to the same rent as a like sized apartment with a considerably lower cost to purchase making your return on investment higher. I have been doing this happily for close to 30 years and have consistently grown my income.

Start by reading the classic MH investment book Deals On Wheels by Lonnie Scruggs, the "Father" and "Master" of the used manufactured home business. Lonnie shares his many years of experience and shows you how to make fantastic profits in one of the least recognized, yet best money making business in the country.

Lonnie talks mostly about buying homes in parks but the lessons he teaches can be applied to home and land investing. You can read his article archive at no cost here on our site.

If you are seeking financial independence read Stu Silver's (Zalman Velvel) Articles for investors I love his humor and appreciated his total understanding of MH as investment. I read his first book Mobile Home Wealth (Part One) .... all 376 pages, in a single sitting. I just couldn't put it down. He outlines 4 basic profit strategies with his real-life experiences that cover every step of the Investment Process.

Tony Colella & Scott St. Aubin have co-authored 5 unique home study courses for mobile home investors. You can read Tony's articles on line, and then move on to Investing in Mobile Homes with Land . It is an easy-to-read, "real world" guide to creating and developing mobile home/land deals for cash flow and long-term wealth.

Please return here and let us know what you think of these ideas or to discuss investing topics anytime.
David Oxhandler
[email protected]

RGV
Posts: 1
Joined: Sat Sep 18, 2010 9:54 am

Re: buying one Mobile home at a time

Post by RGV » Sat Sep 18, 2010 10:24 am

If the portion of the Mexican border is in the Rio Grande Valley of Deep South Texas, you will be able to find furnished mobile homes maintained in good condition by 'Winter Texans' for $15 -$20K. The downside is that they are in 55 & older parks where you will have difficulty renting them year around. If the investment property were a small RV park and you move the mobile home to your park, you will find qualified tenants year around. Obviously a second source of income will be necessary for awhile, but the winter season RV 'Winter Texans' will be a windfall. The downside is living through the Deep South Texas summer.

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