Updated over 12 years ago on . Most recent reply
Mobile Home Investing
I recently started my marketing campaign for off market real estate/motivated sellers. I prefer fix and flip, but would keep a good cash flowing property for rent.
One thing I didn't anticipate at all were the calls from mobile home owners. It's a whole different can of worms and I have no idea what to do with them.
For example my lead today: owes 29K on a MH that needs zero rehab. Comp units in the park (being sold by park) are ~ 35K. Owner is in beginning stages of foreclosure, park is the lender - pretty sure. The park is good as far as MH parks go - but I am completely ignorant on this. Seems that @John Fredo is very experienced, I wish BP could get him on a podcast about this ;).
What do you think, is there a deal here at all? Finders fee to the right investor?
Most Popular Reply
Craig Haskell did a couple of great interviews a while back with a very successful mobile home investor named Mike Conlon, who actually wrote a book called Unconventional Wealth. The interviews go pretty deep into how he broke into mobile home investing and is making a killing. You can either go to Value Hound Academy (its a free value investing education site) or you can probably google, Value Hound Academy interview Mike Conlon and it will come up. Good Luck!