All Forum Posts by: Aaron Kinney

Hey @Bill Gulley ,

I would be happy to send you a copy of my eBook that describes our business. It would go into more detail than I can in this short post. If you don't mind, just email me at [email protected].

Anyway, in regards to the SAFE Act, I don't think anybody knows exactly what will happen in terms of consequences for breaking the act or how to be SAFE compliant for the small investor.

Keep in mind that there is always going to be a market for selling property on terms, especially mobile homes, but the specific strategy may need to be altered to be compliant.

I know that this is quite contrary to many of you, but I'm going to keep doing what I'm doing until my slap on the wrist comes or more information comes out about being SAFE compliant and at that point, I will adapt.

Hey @Ken Rishel , do you mean illegal in regards to the SAFE Act?

Hey @Jimmy Moncrief , thanks for the mention.

Hey @Brandon Turner , thanks for the mention.

@Louise Whidby , there is a learning curve to investing in mobile homes. Especially coming from wholesaling, you are going to deal with having tenants instead of just simply flipping contracts. However, it can be lucrative if you stick with it.

@Bill Gulley , As far as lack of financing, you can look at it multiple ways. Personally, I see it as weakening the competition as most people will not overcome this hurdle and give up after a couple of deals. I should mention that I also own the private land that the mobile home sits on and do not invest in mobile homes in parks.

@Matt B. , Mobile homes do not make very good rentals as we have bought several from worn out landlords. However, selling them creatively (rent-to-owns, land contracts, etc..) reduces these maintenance headaches by a ton and opens us up to a huge set of tenant-buyers (most of our tenant-buyers are simply tired of renting. So the advantage is great mid-term cash flow (~15 years) while sacrificing appreciation.

Thanks a lot @Chris Martin .

I never considered this and that's probably the reason nothing like this has been created.

Anybody else have any thoughts?

It all depends on what you plan to do with the money.

For us, I like the personal lines of credit because we take out the money we need and are therefore only paying interest on the loaned amount instead of the full amount with the loan.

Hey Everybody,

I have been using eRentPayment.com for a little over year to collect rent from all of our units and have been pleased with it. However, I would like to see a couple more features, related to our land contract / owner financed properties:

1. Calculates mortgage balance with each payment that is made.
2. Buyer can pay an additional amount per month that directly reduces the principal.

I guess I am looking for an experience closer to what you might see on the big banks' websites when making your own mortgage payment.

For those who have owner financed properties, do you know of any electronic rent service that can do this?

I know that this is an old thread but thought that I would mention American Modern Insurance Group as well to insure mobile homes.

We have stuck with them so far and have found their rates comparable to Foremost.

Tony Collela's Investing in Mobile Homes with Land is another good one that doesn't get mentioned too often. I bought my copy off of Creonline.com a year or so ago but not sure if it's still available.

@Lindsey Run

My dad and I are doing rent to own mobile home and land properties in the Columbia, SC area. Financing has been very difficult. I brought up this topic not too long ago in the forum:

Financing of Mobile Home with Land Property

We have used personal lines of credit so far to fund most of our deals and have struggled to find any banks to lend money on this properties. Good luck in your search!

Hey John,

I appreciate your reply and have enjoyed reading your blog posts on BiggerPockets as well as your main site for a long time.

Seller financing is the top choice for the investor in my opinion, but I have only managed to get it on one property. (Most of our deals have been REOs.)