All Forum Posts by: Jerry Lucker

@Bert Knot

Bigger Pockets. A* all the way

@Macintyre Braun

Arguably the best commercial investment out there. Those that naysay are just not informed. You’ll find people that will bad mouth anything.

Check out Mobile Home University (Frank Rolfe). The 5th largest park owner on the country.

@Brian Powers

You might consider mobile homes (in parks) flips. I’ve been doing it for 20 years. Way less money than real estate (they’re considered personal property like a car or boat), way less competition, easy to buy and sell, quick turnarounds, and profit margins of 50%+ instead of 10-15% with real estate. Like anything else, you have to know what you’re doing

@James Wheeler

Some successful investors charge to help others. Sometimes it’s not so much for the money but the satisfaction of being of value to other people’s lives. They charge because their time is valuable and too many people would waste their time if they did it for free.I base this on experience, not conjecture.

@Kaylee Pratt

Purchased repo mobile home for $37K, sold it 2 days later for $67K

We are just now realizing the value of having renters that work in ‘essential' businesses. That along with owning free and clear SFR rentals means we just might survive. Most of our rentals are mobile homes on private property, purchased specifically because they cost ½ or less what stick-built houses of comparable square footage would have – and they bring virtually the same rent. Our conservative, low risk approach to investing began 20 years ago.

What we see looking forward as a result of the predicted economic disaster will a huge demand for affordable housing, a niche we’ve been in from the beginning. The properties with the most square footage for the dollar will be mobile homes, mainly in mobile home parks. They also offer living with no neighbors above or below, no stairs, close parking, their own yard, and a sense of community and comradery. The occupants also own their homes in most cases.

We made the money necessary to acquire several rentals by flipping mobile homes in parks consistently for two decades. It took a lot less money than real estate, offered quicker turnaround times on projects, provided much better profit margins with less risk, and the competition is largely non-existent. I would think that this business model will be unsurpassed in the foreseeable future as the best housing investment niche to be in.

You might look into what I did. I initially looked into real estate as a beginning investor. Too much money, too much competition, too much risk, profit margins too thin. I stumbled into flipping mobile homes in mobile home parks. There's the option of starting with modest homes, many purchased for $10K or less. A quick pretty up and sales prices resulting in profit margins of 50% on up. They're personal property, not real estate so they buy and sell like a car or boat. The projects have quick turn around times with easily calculated costs. The best thing - there has never been much competition (for 20+ years). Most investors don't understand the business and look down their noses at 'trailers'. Don't misunderstand! I Love real estate. The money I made from flipping allowed me to acquire a nice portfolio of income producing assets (real estate) :) 

NO!

Depending on the amount of numbers needed - you can subscribe to an online service such as whitepages.com.

For 20 years I flipped mobile homes in parks, a niche most investors know little or nothing about. I used the cash to purchase mobile homes on their own land as rentals. I paid half or less of what comparable stick built units of the same square footage would have cost. They bring in close to the same amount in rent. Renters aren't buying the house, what they want is the size of house they need. If you maintain mobiles properly they will last a long time. After renting the homes for 15 to 20 years I sell them on contract for another 20 years. The upkeep is then the responsibility of the buyer. Neither appreciation nor depreciation has had much effect on this business model. I am well versed in residential as well as commercial real estate also. Mobiles took far less cash, they have little competition, the profit margins are much greater; I wouldn't change a thing about my investment decisions. Many myths about mobiles, including tough financing, etc. has fortunately limited the general investor pool interested in this niche.