Still learning

[Danielle A.]

This is my first post, so thought I'd ask here. What are good, current resources (I'm a reader, so please no videos) for learning about mobile home investing?  I have an old

Lonnie Scruggs course here somewhere, but from reading here the basics are no longer valid.  What would be a good guide for more current fundamentals?

Thank you in advance. Dee

[Jerry Lucker]

Hi Danielle,

A lot of the material on mobile home investing has to do with buying older, smaller units and selling them on contract to create cash flow. This works until a buyer trashes the unit and disappears. Now you're not getting money coming in but as the lender you owe the park rent and all other expenses until you can repossess, repair, and resell the unit.

I've been flipping mobile homes in parks for years. I specialize on nicer, newer units that I can quickly resell for nice chinks of cash. That cash allows me to do even more deals rapidly with the net outcome superior to what I might have achieved carrying modest notes over the long term with the problems and exposures I mentioned. 

Another plus in dealing with newer units is I've always been able to get bank financing for buyers - decent terms to boot. The cash I've accumulated as enabled me to buy income producing real estate which I personally think is better monthly income than notes on mobile homes.