All Forum Posts by: Leslie A.

Welcome, Lee!  I'm near Houston myself. 

I know it isn't a popular option on here, but I just bought my first rental.  We shall see how it goes. 

Actually, not even a mobile home.  It's a travel trailer.  Will be renting for $650 a month less $260 lot rent.

Amanda,

You may be right, but if you've only looked at one, how do you know he way overpaid?  Around here $3200 doesn't buy much.  Of course, things are probably different there.

I also would have walked away from that one.

Steven,

I think you may be misunderstanding how MH investing is done.  You would find and purchase a MH for cash for a very low price - much lower than market.  Think several thousand dollars to possibly up to 12 or 13 thousand max. 

Then you would finance that home for at least double what you paid for it, and preferably more.  Double is what Lonnie Scruggs did in his book "Deals on Wheels".  But also read up on John Fedro's blog and Rachel H.'s blog.  They mark up more than that. 

Also, be sure to read up on the SAFE act and Dodd Frank rules in your state. 

Walter,

Lonnie always doubled the money, but most seem to aim way higher than that.  Go read John Fedro's and Rachel H.'s blog.  On Rachel's look at the case studies.

Great cash flow, Joshua! 

Have you considered an RV park? 

yes, it was in section V.  It listed rules for a marketplace ads.

Welcome!  You sound like a go-getter who will do well.