All Forum Posts by: Rick Fagan

How would you know Frank Wright designed a MH?  Does Frank have a unique factory code or vin#? Did he sell his designes to a particular factor that made MH's?  I work for Clayton Homes and I will ask around to see if anyone has one of these homes. 

Did I understand you when you said you have a lien?  You should consider never giving title away.  I repo 80% of my homes so you can imagine how difficult that would be if I had to go get a title back.  Good luck.

I think the selling of used mobile homes is the easy part.  The last one I sold I had 56 people call me to buy it.  I cant speak for your area but if you offer financing they will come.  Can you  put mobile homes in Brooklyn?

First, in TN if you hold title in a company name you are required to be represented by an attorney (I believe).  If not, I would send him his notice and start the process quickly to evict.  During the time before you go to court make sure you talk to the guy.  I always tell my MH buyers that if you leave the home clean and get out I will not garnish wages but if they force me to go the distance then I will find them and garnish wages.  It is all about communicating the message to them.  In 15 years, over many homes owner financed, I have had to have the sheriff physically evict 1 person.  But, I have had some homes that were left behind in a mess.  That is the business you are in with mobile homes.

@Payton Abernathy

Flipping mobile homes to other investors could be a little tricky.  You might want to consider getting your investors in place before you buy.  The MH business could be a little tricky.  Good luck.

I am a big fan of mobile homes just like yours.  If you cant fix it yourself try to find someone that will fund the repairs.  If not, try to sell as is with terms.  If not that then flip it to someone who will fix it up.  You could fix it up then sell the first 36 months of payments to get your money back and keep the balance of the payments.  Good luck in whatever your choose.

I am sorry I started learning about DF.  I am confused and I need clarification.  Can I or cant I owner finance or lease option a mobile home by myself?  It sounds like I need a originator (third party) to handle the transaction.  Is that all?  Do I have to be concerned with correct documents and the wording of those documents?

Hi Bernie.  That is one of my favorite things to do (buying a home with 1 or 2 acres, selling the home and keeping the lots)  and that is exactly how I got into the mobile home business.  I bought a small home (assumed the note) with the expectations that the two lots that came with it could be developed.  The lots were owned by a mining company out of New York.  I called the president and asked him how much he wanted for the 1/2 lot that could be subdivided into two lots.  I bought it for $1,000.  I sent him the check and I didnt hear from him for 6 months.  I find out that he went to Europe for 6 months on business.  He got back and I received the deed.  I now have 2 mobile homes on those two lots for $1K.  Then I sold the home.  This is fun stuff.  

@Dave C.

@Payton Abernathy

@John Murphy

@John MurphyHi John.  Glad to see more people coming aboard this subgroup.   I want to work strictly with mobile homes.  If you would like to know more about them we can have some coffee sometime. 

@Payton Abernathy

Yes.  That has been very helpful.  I have met a lot of people that way who want to know more about MH's.  I dont have a smart phone so I dont have to worry about that.