Hi bp family quick question is there anyone out there that got into the mobile
home niche? wodering if that is a good path to get into.
I highly recommend checking out the book "deals on wheels" by Lonnie Scruggs. He was my personal mentor and was an unbelievable person. He was located in the Hampton Roads area. I got a lot of great advice from him but I never was able to get to the mobile home thing to work for me
There is a forum devoted to Mobile home investing called "Mobile Homes and Mobile Home Park Investing". It is a lively forum with lots of information. Good hunting.
Go read the threads in the "mobile home" forum. This was not posted in the best place in BP.
Lots of discussion on buying MHs in parks! Most of it bad.
Deals on Wheels is dated, has been "done a way with" by Dodd Frank!!!
Investors have eirther: good luck or very bad luck with park managers who can lock you out of renting your home, yet you are on the hook owing the lot rent. But I hear of some success if you have a great relationship with the park manager and owner.
Go read about lonnie deals in BP in general and also in the MH forums.
Search "are lonnie deals dead"
There's a few folks who do have success I'll hook one in now. I bought "the book", called local parks, visited a few here in Atlanta, and dropped the concept. We do buy double wides on their own land, and the whole park. Either of these are great businesses.
PS if you are looking into MHs in parks because of low cost, you might look into creative financing. Buying nice homes with low to no cash. BP has a book; Buying with low to no cash (??). Study: creative financing and direct marketing.