All Forum Posts by: Bill Neves

@Danielle Watts

Welcome. 

There actually are less costs with a mobile home than with a stick built house. Read up on this blog about mobile homes for more help.

You can check with local real estate agents who deal with mobile homes for an idea about prices. You can find people in your area who deal with mobiles and ask them. Park managers can give you an idea. At least to get you started.

Once you have done a few, you will have your own basis.

And good luck!

Congrats @Craig Shute

I do mobiles too. Lots of fun and great returns. Again Congrats!

You can check zoning with the city or county planner and see what it is zoned for. Might answer a few more questions.

@Stephanie W.

As @Curt Smith mentioned above, it's up to the park. Some I've worked with are very flexible. Others, not so much. I had one park owner who sold my applicants, her homes for sale so I lost the sale and was borderline discriminatory with other applicants. Buying mobile homes on a lot, or land, gives you much more control.

A good start is Lonnie Scruggs' book Deals on Wheels. Good luck with your investing.

With all the rules and regs on parks I have to assume they are doing the right thing. Deal with a park of some size. Avoid Joe's Mobile Villa with 7 units and you should be fine.

You can avoid giving personal info if you buy a bank repo. Then you can just send a letter that you have taken possession of the property.

Personally I prefer to meet and talk with the manager/owner. Some of my best deals have come directly from managers.

I just completed a deal that I got for $500 with 2 months rent included. I fixed it up with $7500 total invested. Sold it for $17k cash in 10 weeks. Net profit was $9500. That is over 500% annualized ROI. Where else can you do that?

I assume Lonnie Scruggs had to give his info when he first started. Gotta crawl before you walk and walk before you run. At least most of us do.

As mentioned above:

When in Rome you gotta do what the Romans do (to get along).

If you owed the park, would you take everyone on face value or would you want to know who is coming into YOUR park? Great President Ronald Reagan said 'Trust and Verify!"

Agreed. However, one of The Golden Rules says, those with the Gold make the rules! Until you can call your own shots, you gotta play by the accepted rules.

When in Rome you gotta do what the Romans do (to get along).

If you owed the park, would you take everyone on face value or would you want to know who is coming into YOUR park? Great President Ronald Reagan said 'Trust and Verify!"

The simple answer is YES, you have to give the info as if you were going to live in the park. Park managers require this. I've done this on every park I've worked in. It is confidential so personal info should not get out. Once you qualify, you can buy several in the same park.

According to Identity Theft Journal, the most common cause of ID theft is a stolen wallet. Other causes are answering phishing emails and entering info on random phishing websites.

If giving out your info is a concern, don't do it. 

@Marshall Niemela

Welcome aboard! 

I'm a neighbor in Vancouver, WA. Welcome to investing! Congrats on your new investment!