All Forum Posts by: Jerry Lucker

@Dustin Burke

One day you have friends, relatives, business associates, and all the nice people you see at church.

Get involved in MLM and then all you have is ‘prospects’

@Lee Prado

I started flipping mobile homes 20 years ago. I was able to start paying cash for rental properties my second year in business.

Mobiles take way less money, the profit margins are a lot higher than real estate, the process is quicker and easier, there is virtually no competition.

These days my time is devoted to helping others in the business :)

@Jeremiah Akindele

👎

@Zack Thiesen

I deal with mobile homes so there are many sources to find deals.

Repos, park owners, individual owners, MLS, etc.

You can do things with mobile homes that you can't with real estate so some of my best deals have come from the MLS! :)

@Dave Rav

Most parks require the home to be ‘owner occupied’. Rent to own isn’t accepted in most cases but seller financed is.

@Eric Doerr

The mobile home has a title just like a car. The buyer is on the title as the registered owner. The seller is on the title as the legal owner (just like a bank). When the home is paid off the legal owner is taken off the title.

This satisfies the park - the buyer/owner is occupying the home, the seller is just providing financing just as a bank would.

@Steven C Hazel

Mobile homes don’t appreciate like stick built homes do. It doesn’t make any difference when flipping as the home is usually held for around 90 days. Buying the home right and fixing it up adds plenty of value to resell.

As buy and hold, appreciation doesn’t affect my business model. I rent the home for several years (or forever) and/or sell it and carry the contract. Based on the original purchase price I make bank without appreciation to worry about.

@Raychel Raymer

Mobiles make good rentals if they are on their own land. Generally mobiles in parks have to be owner occupied and can’t be rentals.

Flipping mobile homes in parks for quick cash can also be very profitable. I’ve done it for 20 years and have been able to purchase several rentals with the cash generated.

@Gerry Magrini

NO

@Tony Aguilar

This has been my specialty for two decades. The sales price of where it ends up can vary by more than 100% because mobiles are area specific and park specific.

You could probably make a lot more money by selecting a place to move it where it would sell at a good price and do the project yourself.

I flip SFR and mobiles all the time. The mobiles take less cash, are quicker and easier, have way better profit margins, and there's virtually no competition. Most investors don't ‘bother' with mobiles because they don't understand the business.

HINT :)