New investor, which way to go?

Question

Hi All
I am a new investor -- i have 2 single family rentals under my belt - but now my interest is peaked with mobile homes.  I was approached by someone selling their 1987 Zimmer, listed with agent right now, for 38k with 1/4 acre.  Obviously I'd work hard to get that price down-- but I'm completely aware that there are several ways to go about this -- maybe buy older ones already setup in parks? buy old ones on pieces of land?? but old ones and PUT them in parks, if they allow, etc. etc. -- can someone guide me to some basic information -- or strong opinions!! Thanks much!

Mike Matthews · Answer

PLEASE DEFINE OLDER, That can be a scary word.  50's,  60's 70's 80's.

I need to know please.

John N. · Answer

Sorry Nick, that was a typo....I meant to say sub2 and probate.  You bring expertise in those 2 areas from what I have read.

By the way, have you done any lonnie deals or mobile home deals?  Just wondering.

John

John N. · Answer

Kenneth

Nick is right, there is a wealth of info on these forums and he definitely brings some great expertise in the area of sub2 and not probate investing.

You can make great $ in mobile homes in a variety of ways, including also parks.  You need to determine why you want to invest (whats your main goal....cash flow...quick cash, etc.) then decide from there.  From my perspective, lonnie deals are super easy to do if you just put in the time to do them...people need to sell these cheapo deals and they dont want to pay lot rent anymore than they have to.  Click on my posts to see a recent one I did on my first deal.

If you have any specific questions or need help....let me know, I would be glad to help!

John

Nick J. · Answer

here on BP there is a wealth of info on that. I konw Mike Matthews (who has recently changed his avatar) and Rachel aka mobile home gurl are pretty well experienced in mobile home investing. The beauty of BP is you can connect with them and learn from them right here on BP.

G' luck to ya