Wholesaling and mobile homing a match made in heaven
After reading the deals on wheels book I’m hooked on mobile homes. That income is residual in nature and appears to be more reliable than ones own ability to locate houses to flip. In the deals on wheels book Lonnie says you mobile home purchases should be around the $2000 range. After researching the whole concept of flipping houses and wholesaling I learned you can average $2000 or higher a flip. I thought why not combine the two? Wholesale to fund mobile home purchases!
The more I learn the better it gets! What if you can do two short sales at $20,000 a year? That’s enough to buy your freedom from your job with mobile homes. In Lonnie’s book you rent for the mobile homes will be around $200 a month. If you have 50 mobile homes that’s $10,000 a month. It will cost $100,000 to get 50 mobile homes but remember short sales wholesales they can be anywhere from 20,000 to skys the limit.
The real question is would I need to have multiple corporations to do this.
What do you guys think?
I guess doing short sales would do it...dont know, never done one...
But as for Lonnie deals.... One of these days I am going to meet hime, I hope!!! When I do I want to shake His hand as He has really set me free.
MH's is where it is at for me. I have moved from doing individual Lonnie Deals as they are called to purchasing a MH Park.
I have a offer that was accepted on a park of 44 lots and I am going to inspect it in a week.
Based on the numbers and what I am seeing from photos its a great deal.
At anyrate, it all started with a single Lonnie deal and being very creative.
Once I got started it just snowballed.
I bought 5 yesterday, 4 double wides 1 Singlewide.
I have one of the DBL Wides sold already on a flip.
One of my recent deals was a 1969 2/1 home. Decent condition.... $800.00 is what I pade for it.... sold it in 2 days for $2000.00
Person I sold it to is collecting 200 Positive Cashflow each month....
But at anyrate.... I am making 1200 to 3500 per flip..
I am using my cashflow to invest in my own of which we get 200 plus cash flow each month.
Thank You Lonnie
Mark
MarkB
Whatz up man!
I was thinking more about the short sale thing. What if you could short sale double wides? I know there are double wides that cost an upwards of 30K to 50K. It would be easy to get the banks to come down on the price because of the negative perception people have of double wide values. The funny thing is in reality mh's are gold mines.
Short sale a single family home and make 20K+ Short sale a 40K-50K double wide down to 15K-20K = Seller financed double wide for 50K
I wish I had my financial calculator with me I’d like to punch some numbers in on that!
Look forward to hearing back from you! By the way I have Ernest Tews phone # hollar back if you want it (he’s a master at making $$$$$$ with mh parks!!)
Hi MarkB,
May I assist you in finding MH parks in the Idaho, Montana, Washington area? Email is: aboyd@sandpoint.net
Thanks-- ArtB
Yes, I would like to hear what you have to say. I will be emailing you in just a few minutes.
Mark
Mark B,
I am not into MH, but a friend of mine is looking to purchase a single wide for her son: 3 bedr. 2 bath. She lives in Claremore, Oklahoma. The MH would be placed on her property. Do you have anything decent for a good price? She would need seller financing.
Ladybug[ Edited by Ladybug on Date 04/04/2003 ]
Hi all...
I am a newbie to this site and love the information here. I am interested in getting in on the mobile home goldmine and saw some of you talking about Lonnie? and his book? Could you please let me know more and where I might get this informative read. By the way, I am a carleton (carlton) sheets scam victim. I need some good news...thanks a lot.
Stanley
Hi all,
I would also like to know where to find lonnies book.
Thanks, bdr
where do you begin when trying to wholesale mh's?