All Forum Posts by: Jerry Lucker

We buy, sell, flip, develop land/home packages, hold as rentals - anything mobile homes. Our area is mainly Western Washington but we have associates all over the country. Let's communicate! 

Just realize that while mobile homes in parks are housing they are generally regarded as personal property (like a car or boat), not real estate. The ease of buying and selling, low initial investment, high profit margins, and rapid turnaround times make them an attractive flip. 

For several reasons I recommend a straight flip - sell, get the cash, and go on to the next one.

Learn the business, learn your market. The business works proportionately the same everywhere.

With all due respect to the naysayers of mobile homes, some of whom have replied to you, I have focused on this business model for well over a decade. In the first four years alone I made and invested enough money (mostly back into income producing real estate) to become financially independent.  Like anything else, if you know what you're doing - it works.

Only $1,100 per month. 3rd floor apartment. 750 sq. ft. 1 bedroom, 1 bath, 1 parking space.

Only $1,100 per month. 1500 sq. ft. modular home. 3 bedroom, 2 bath, 3 covered parking spaces. Covered deck. Nice lot with garden, storage shed. Home is owned with a payment of $650 per month. Lot is rented with a payment of $450 per month. After home is paid off only the lot rent remains.

And most people still haven’t figured out why we’re flying high in the mobile home/affordable housing niche. Myths, misconceptions, and prejudices are more costly than you could ever imagine.

People make this way too complex. I buy mobile homes in parks at a discount - repo or otherwise. I pretty them up, sell at retail, put the profit in the bank, and move on to the next one. Financing has always been available for the buyers.

Construction, depreciation, economy, comparison to stick built, etc. etc. etc.. all the usual negatives - have never slowed me down in the last 15 years. I just go about providing affordable housing that is the only alternative to renting in many markets. 

It's no surprise that virtually all of the bad press about 'trailers' as a high profit margin, quick and easy flipping business model comes from investors who haven't figured out exactly how to be real successful in this unique housing niche.

The few that have it figured out pretty much have the market to themselves. The lack of competition is one of the key factors in the unusually attractive profit margins.

Everywhere you look you see articles raving about ‘Micro Homes’. 10,000 Baby Boomers retire every day in the US. There is a growing appetite to spurn the ‘McMansion’ and embrace tiny homes.

It’s big news when someone converts an old metal storage container into an efficiency dwelling. We’ve even seen logging yard sawdust ‘teepee’ burners converted into living space.

What is the missing opportunity? How about a 1200 sq. ft., 3 bedroom, 2 bath house built with Hardy plank siding, 2x6 walls, sheetrock interior, 4x12 pitch roof, premium carpet, granite and tile, stainless steel appliances – yes! The same materials a stick built house is constructed from – only for 75% LESS!

The only difference – this house is built in a factory, not on site. Ewwww! You say, but why? Look at your car. Look at Mercedes, Lexus, Infinity, BMW - - - - they’re all built in factories. If they were built on site that $60,000 car would cost you $400,000.

It’s ludicrous thinking the assembly line works fine for everything – cars, computers, and cranberries - but not for housing. That attitude is as antiquated as the Model T.

The manufactured home of today, especially one located in a planned community, will become a highly sought after commodity in the years to come. The people that realize this early on will be able to prosper immensely by providing nicely refurbished houses to the market place.

The people that don’t will be able to remember they read an article back in 2015 that ‘Told You So!’

Most of the time you’ll find a ‘Compliance Certificate’on the inside of a kitchen, utility room, or bathroom cupboard.

It lists the manufacturer and date constructed appliance information, electrical data, wind and snow load rating, and other details.

Very nice to be sure exactly what you’re looking at.

Mobile homes in parks can often be purchased Very reasonably simply because they are a depreciated asset, not real estate. Cleaned up they can sell for a good return. I recommend selling for cash; two reasons. First, the available cash will let you go out and immediately do more deals for more cash and the ultimate return is much better than carrying the contract. Second, by reselling you avoid payment problems, repossession problems, rehabbing after units 'trashed' by buyers, and having to pay the park rent when the buyers don't.

Most parks don't let you own and rent out the units so take the cash and move on. Contrary to popular opinion, you can find financing for just about anyone on any mobile home. You just have to know who and how. I've been in the business for fifteen years so my input comes from actual hands on experience. It's a great business when you understand exactly how it all works.

Hi Matthew,

I now own a nice portfolio of rental properties. Maybe you could start like I did. I flipped a ton of mobile homes in parks (not even real estate) to generate cash to buy rentals. The best part is you can start doing this for next to nothing and learn about real estate while you're making good chunks of money.

Hi Brad,

Have fun at the MHU Bootcamp. There aren't too many people that can keep your attention like Frank. On a scale of 1 - 10 he's an 18. Keep in touch.

Wow, great thoughts folks! I would've assumed they fell out of the tenant's ears - based on what they seem to hear! (I hope a little humor is permitted)