All Forum Posts by: Jerry Lucker

@Lee Prado

It is absolutely worth every penny and the some. Frank and Dave are at the top of mobile home park ownership and development. Frank will be the best teacher you’ll ever encounter. He is highly respected in the MH community at large.

MHU - Transparent, straightforward, thorough - the good, bad, and ugly of the business. I’ve been twice! First time to learn, the second time because it was held in my area and it’s such a great experience I couldn’t pass it up.

Go at all costs. Seriously :)

@Mike

Negative feedback usually comes from people who are jealous of your ambition.

Shun them. You don’t need Anyone dragging you down.

Hang with like minded people who encourage you. (Bigger Pockets :)

Sharing promotes accountability!

@Shari Baker

I’ve specialized in mobile homes for 20 years and have collaborated with people all over the country.

Every market has its own personality but the basics of the business hold true everywhere.

I’ll be glad to share if you’d like :)

@Ryan Lachmiller

Not to oversimplify but - get rid of her

@Gian

Flip mobile homes in parks for cash, then buy mobiles on their own land as rentals. You’ll get the same money in rent per square foot as you would for stick built at half or less the purchase cost.

Rent them for many years then maybe sell on contract for many more years of income. Neither appreciation nor depreciation has much effect on the process.

The best part is that you have little competition because the vast majority of investors look down their noses at ‘trailers’ and really don’t know how to monetize this lucrative niche.

After 20 years of being in the business I’ve learned a little :)

@Tyler Cobb

I’ve invested in mobiles for two decades. Flips, parks, land - you name it.

For the few that understand this niche it can be extremely lucrative.

Takes less money, less time and hassle, and there’s little competition.

@Joshua Smith

I’m currently developing a formerly vacant lot next to one I own. Mine now has a doublewide mobile that I rent out.

I can put a mobile on the lot or build a house.

I’m going to put a newer mobile home on the lot. Pitched shingled roof, 2x6 walls, 1/2” sheetrock - same materials as a stick built.

The cost will be 1/4 to 1/3 of what a stick built would be but I’ll be able to get the same rent for like square footage. The renters want the room - bed/bath etc. They’re not buying it anyway.

I’ve been doing the same thing for 20 years - it had worked out very well.

Best of luck with your project :)

@Ryan Ray

I knew Lonnie, a fine gentleman he was. I did have issues with his business model. Buy little old mobiles cheap, do as little as possible re repairs, etc., then sell them on contract with good interest - create notes.

He didn’t elaborate that the buyers of this type of home have an extremely high rate of defaults. They have little skin in the game and usually have employment and other difficulties.

You worry about their small payments every month. When they disappear the park comes after you for the lot rent. Many times the home is trashed and you’re dealing with a repo or eviction.

Don’t get me wrong - I love mobile homes, But, flip them for cash! My experience has shown that you can make significantly more money with practically none of the problems and stress!

You can soon be investing the serious cash you make flipping into much more profitable investments.

@Diana Wasneuski

Excellent reply and advice. Spot on.

@Kevin Moore

or - - you could use an out of the box approach. Flip mobile homes in parks for cash. Takes little money, little time, and the profit margins are extraordinary when you know what you’re doing.

I accumulated enough capital my first year doing this to pay cash for my first rental. No banks, no payments, no interest, and certainly no stress.

I held several properties as rentals for many years then started selling them off - holding the contracts of course.

It got me started with very little money, grew the cash fast, and provided me with passive income and financial independence in just three years. It’s highly doubtful I could have done this with real estate. I do like and own real estate, I just used a misunderstood and unconventional method to acquire it.