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Updated over 5 years ago on . Most recent reply

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Jermaine Dabney
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Mobile investing in Illinois

Jermaine Dabney
Posted

I’m trying to invest in mobile home in Illinois, but most parks are saying that don’t allow sub lease.  If u buy the home u must live in it or u must sell in to a buyer out 

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George Skidis
  • Rental Property Investor
  • Belleville, IL
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George Skidis
  • Rental Property Investor
  • Belleville, IL
Replied

We manage a park. The problem park owners have is that if they let you sublease, they now have a tenant who YOU FOUND! What if you suck at tenant screening?

Local municipalities are going out of their way to close mobile home parks. Why should we risk our livelihood on you?

So starting out, you need to focus on mobile homes located upon their own lots. Then get a down payment together and buy your own park.

Got tons of cash? Then lets do a deal. You buy the park and I will mentor you for a reasonable share of the gross.

Buying and flipping mobile homes is a great business. Check out the book "Deals on Wheels" by Lonnie Scruggs. There a two volumes. He sold a course with forms disks and audio before he died. GREAT Book!

  • George Skidis
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