Let's get this group rolling! I've bought two mobile homes in the past month. The second one I bought right: offered $4,570 against a list price of $18,500. We settled at $6,125 or $3.44 per square foot!
My first MH is being worked on by the contractor. The second closes on November 1st and he'll switch right over to it. The next thing I have to prove to myself: will they sell and for how much?
I learned the business from this guy, who is local to me (Seattle area):
http://www.mobilesmakemillions.com
He's flipped 113 mobile homes over 4 years. He says there are hardly any investors active in this space. My inspector confirms the same thing - he's never inspected a mobile home for an investor.
I picked up a good book on the subject: Mobile Home Wealth by Zalman Velvel. I've heard of Deals on Wheels. Any other good resources out there?
I've only been looking on the MLS so far - there's enough there to keep me busy. Does anybody have an up-to-date list of bank repo websites?
Bob
Who is Dean Graziosi?
Are People Actually Successful?
Does Dean Practice What He Preaches?
What Deals Are The Students Doing Right Now?
Mobile Home
Just wanted to say Hi,
I'm new to this site and your group caught my eye because I have a mobile home that I have rented out for the past 4yrs. And its been a journey and Ive learned a lot. Im in between selling it and buying mre and flipping or renting for cashflow. My current cash flow is very low since I'm struggling with the mortgage at my own home and really need to get better cashflow coming in. Im wondering how I get into this in N. Florida since the laws are prob dirrent?
Florida - different laws, etc.
Zalman Velvel operates in Florida. I found his book at Barnes & Noble or Amazon.com has it: Mobile Home Wealth. Lots of mentions in there about homes rotting away in the humidity that didn't apply to my climate (Washington state).
mobile home
okay I will check him out. Thanks for the info! Yeah the humidity is a factor here in Florida.
awesome subject !!
i have flipped a couple mobile homes and yes they r very profitable.i have heard phrases such as little tin boxes that spit out cash !!!.how true.does ANYONE know of any banks or otherwise that supply investors such as ourselves repos in the ny or top part of pennsylvania area.preferably ny as i am in the most north east part of ny ??
Mobile Homes in Maine
I reside in Maine and would be interested in this angle.I always thought that mobiles decline in value so the idea of flipping seemed counterintuitive.Can you help sort this out for me?
Rich
roca07
depends on what u can purchase them for and also if u can own the mh AND the lot then u r getting pd twice.also an avenue to take is lease optioning the mh and or lot.
mobile home repos in norhteast new york
WANTED.....MOBILE HOME REPOS AND OR DOUBLE WIDES, MANUFACTURED REPOS ....WITH OR WITHOUT LAND....pm me with contact info
Jay
MH
Are you only working in NE New York?
Hi Everyone
I'm in the process of buying a Mobile Home Park and house. But This group seems really interesting.
Don
Just getting started
I heard a teaching on MH's on the 2011 Edge videos. Got me interested. How do I determine if it's a good deal? Not many realtors around here do MH's. I'm in northeast AZ. How do I talk a seller down without insulting them? Does anyone go to dealers and buy used ones? I have found a bit of foreclosed vacant land in my area...Too expensive to move and set up?
Also, just getting started
My friend, Sandi, got me interested in this topic. I've started to look at ways to flip a MH too. I think you can just blue book a MH, like a car, right?
Do you just call a bank?
Thanks,
Tracey