quick point on manufactured homes in new york

Thanks for sharing the insight and information on the manufactured home experience. The more information we learn, the more creative deals we can do or consider. Continued success. Believe and Achieve! - Joe

Feel free to add any lessons learned on mobile home investing. This thread was from approx 5 yrs ago and I believe we can expand on the lessons on this topic. The mobile home market is ripe for the taking and is a gold mine for beginner investing as it takes less $$$ to make $$$ in this avenue.

Hi Jay
I am hoping to teach MH at the edge this coming year. Have done well over a dozen this past year so I have them down. Think it would be a great class. Everything from rehab to lease optioning them. Keith

Awesome Keith !! That would be an incredible topic.i believe that is one unused strategy compared to the others but one that can be utilized to cash in big !!! Kool.

What is the book that is considered the manual for mobile homes? Cash in Tin Cans?

Something like that. Let me know if you know. I want to order and read it.

Thanks,
Michael

And there is another with a name like you mention. I googled them once.

. There r many that are good including wheel estate, deals on wheels, by Lonnie Scruggs. Tony Collela's Investing in Mobile Homes with land is another. Dawn mobile home earling has a site that recommends many good pointers. The phrase little tin boxes that spit out cash is a phrase that Marc Hrisko uses when he did speaking seminars for rich dad poor dad ) not sure if it is a book or not but that sure is a good title )
Here some more:
Authors. --------- Books
Lonnie Scruggs. --------- Making money with mobile homes
Zalman. Velvel. ---------- Mobile home wealth
Keith r startz. ------------- Millionaire mobile home investor
Rachel Hernandez. ----------- Adventures in mobile homes
Jerry Hoganson. ----------- Making money through mobile home investing
Mark N Bower. ----------- THE MANUAL FOR MANUFACTURED/MOBILE HOME REPAIR AND UPGRADE
Ray Alcorn ------------ "Dealmakers guide - mobile home park book
Jamison Smith. -------- Trailer cash

Much wisdom in your words. I would have never guessed that you have to go through DMV to buy and sell a mobile home.
keep up the good work my friend!!
Richie
never EVER give up!

Miss you man !! Been a long time. Hope to see you at edge again ??
Yess mobile homes are a CRAZY opportunity to cash in on the FAST CASH due to the dmv title exchange. Quick turnover, no closing and lawyer drag outs. The only holdup sometimes is the Moving and setting up if it is not in a park. I hope keith does speak on this because it is one I LUV !!!!

"Yess mobile homes are a CRAZY opportunity to cash in on the FAST CASH due to the dmv title exchange. Quick turnover, no closing and lawyer drag outs. The only holdup sometimes is the Moving and setting up if it is not in a park."

LOW investment needed, repairs minimal and DMV has Title since it is PERSONAL PROPERTY, Not Real Estate. (Unless it's on permanent foundation on owned land)

Don't forget financing. CA CHING

When it's in a MHP and 'owner only occupants' are required, bypass that and STILL make the deal by having tenant/buyer as 10% +/- owner in your contract.

Tin cans on wheels

Deals on wheels

GOLDMINE in mobile homes! (and fast)

EVERYONE NEEDS a place to live!!

Go and HELP them.

KEITH: I Know YOU get it!

Think about this when you see Land for sale. Timber is valuable. How many (if allowed) can you put there (depending on size and zoning...usually 4 until you Make it a MHP)

RUN the NUMBERS on that and SEE just HOW MUCH you can make by HELPING people!

I Lived a mobile home in a MHP and learned from the owner HOW he bought it with OPM, and was making $30,000 MONTH!!!!!!and living there FREE !!!

STILL think there's NO money in mobile homes???

(MHP) mobile home park is another subject that we could talk about. I am sure keith will touch on these in his speech as I know he buys in parks and capitalizes on the owners NEED to sell thereby working with a Motivated seller and also helping the park owner and manager keep the lot filled with paying customers. Great advice Mike !!

I'm going to check this market out in the Denver area. Something I have yet to do!!

Thanks Jay!

Michael

there are MANY deals here in upstate ny !! They r EVERYWHERE. just got 3 leads from bandit signs this week for mobile homes Fsbo. I like the ones on a lot all set up. I can usually negotiate some WELL BELOW fair market prices for these. They are a really profitable unique strategy.

thanks for sharing your tidbits of knowledge! This site is awesome! I so admire the investors who actually share their experiences and knowledge here!

Lonnie Scruggs books on MH are really great!!

Are you doing owner finance and lease options on mobile homes anymore? Does Dodd/Frank impact that side of the business? Just buying rehabbing and selling now? If the owner finance is gone, thats OK. Still plenty of money to be made.

Thanks for the input.

Michael

Always helpful information from you!

I am still doing owner financing.
I also still do land contracts or subject to'$ with due on sale clauses. If Dodd worries anyone just sell to investors only. No harm there.

Lonnie Scruggs wrote the book on mobile home investing, Deals on Wheels. If you follow his original book, you won't be compliant with Dodd-Frank. However, if you order the book from his web site, there is a 2014 revision relating to Dodd-Frank so you can be compliant if you choose to.

The other aspect of mobile home investing is the note/financing part of it. David Butler wrote a book entitled Tin Can Alley, dealing with notes and financing, but I don't know how his book would stack up with Dodd-Frank today.

I new Lonnie's book was good but had info that is now outdated if not illegal. Laws change!

Thanks Guys!
Michael