Brand New -- Mobile Home Question

[Joe Ward]

Hey.. Im new to investing and I have a question.. I have 12k in savings and I'm wanting to get started with real estate by investing in mobile homes. My immediate goal is to generate a good extra income, long term is to retire from my 9 to 5 early. What should be my first few steps and which method of investing is best for beginners.

Thanks for your answers in advance !!

[Sam Parkins]

Joe,

I would imagine you'll get a ton of responses on this so I won't go into too much detail, but suffice it to say that I started my mobile home investing business a few years back and not only had $0, I was a sizable chunk of money in the hole from a partnership gone sour.

There are plenty of techniques regarding the mobile home industry, however most will centralize on doing a "Lonnie" deal or a variation thereof.

My best advice, and I've given this advice to many that have inquired of me on how to start their business, is to read Lonnie Scruggs' books, particularly "Deals on Wheels". I believe you can buy it on Amazon or from his site for $20 or so.

There are different ways to skin the cat, but that book will give you a great start.

I'll tag this post and will be glad to chime in with further details later if needed.

Best of luck!

P.S. You're in a good area for the business!