1st purchase - Posted by Eric

Posted by Dr. Craig Whisler CA NV on October 31, 2003 at 18:28:42:

This board is, to a large degree, for beginners. We are here to help you but the naivete of your question leads me to believe that there are hundreds of possible mistakes you could make on your first deal if you don’t read Lonnie’s book, Deals On Wheels, before attempting your first deal.

Each mistake will be like taking a $300 seminar from the school of hard knocks. The book is only $30.

Choose one of the above.

Most parks don’t allow rentals. Check with the manager first before buying it. The park may not even want to have you buy it for resale. Without their cooperation you may never be able to get the park to approve the rental application of anyone who wants to buy from you. Then you will have to forefeit your mobile or pull it out of the park.

Again, choose one of the above. Each is more expensive than the other.

Regards, doc

1st purchase - Posted by Eric

Posted by Eric on October 31, 2003 at 06:13:08:

I’m new to this, but I’m interested in buying a mobile home in Fresno, Ca for $2000.00. The space rental runs about $266/ mon. Rental rates for a single wide around here would go for about $350 - 400 / month. The MH is in relatively good condition, so I thought I might buy it as a rental a make a few $100+ a month in rent. Does this sound like a good idea or am I missing something here?

Any advice is appreaciated!