Recommended reading?

[C J]

Hi all,

I know enough about the MH business from reading these forums that I am having trouble sleeping from all the excitement about making this "dream" happen.

Basically I'm a full time student, GI Bill scholarship after an 8 year stint on active duty. I have a couple CD's that are earning squat--prime fodder for MH investment. I am absolutely convinced that I can make this happen.

So . . . can you recommend some reference material? This forum has already proven to be quite a resource. I am pretty sure I need to get DOW by Scruggs, but is MMWMH by Scruggs also necessary? Additionally, does anyone know much about the MH rehabbing course by Scarborough? The price is a bit steep but I am never against spending money on education.

Thanks in advance . . .

cj

[Jim Johnson]

Hi CJ,
What to read concerning the financing of mobile homes is a great topic and I am sure many have an expert they follow. I have read most of what is out there and there is some good in all of it. Remember each author writes from their own point of view, and from the kknowledgegained where they invest. So what I know is great if you invest in Denver, or one of the other areas I work out of... but much of what I would do will never fly in California for instance. So here is what I would tell you... the books give good general info on how things are done... but to really understand what to do in your area, you need a mentor of some sort. Someone that really understands what is happening with the parks, the managers and the market. Also, someone can write all day how they do things, but to watch them, or hear them is a whole new level of learning. I ahve always been willing to share me stuff, but the thing hard to share is the stuff inside. How I do things, why I do things, how I act, react, think etc...
The analogy I like to use is one of Tiger Woods... would you rather have his clubs or his swing? For me the clear answer is the swing. The club is the 'fact' stuff... like paperwork, numbers, business plans etc... the swing is how he puts all that inside stuff into motion to make that ball fly...
So hit the books for the facts, get a mentor for the swing...

ps- with a good enough mentor, you really do not need the books... I did not read my first mobile home investing book until after financing about 15 homes... the the book was really reinforcing what I was doing, not teaching me much of anything...