Posted by Rick Woodward on September 07, 2001 at 07:38:26:
I have Lonnie’s Course and it’s great! There is a video that he offers that covers MH parks. Also, read the article at this site on turning MH parks into communities. I feel MHs are the most overlooked investment in RE. Well, just my opinion.
New MH’s? - Posted by A.M. Simmons
Posted by A.M. Simmons on September 06, 2001 at 23:42:47:
Although I’ve been a real-estate investor for about 4 years,
I’m just now looking into the mobile home market.
I"ve ordered Lonnie’s course but haven’t received it yet so
these questions may be answered in it.
Has anybody made money negotiating with a MH manufacturer
to buy several new ultra-basic MH’s at a time wholesale and then turn around and mark them up and carry paper on them? Would you have to have a dealer’s license to do it, if it was economically feasible? I live in Miss.
One more question: the MH “parks” around this town are the
absolute pits. MH’s are only allowed outside the city limits. Is the building of a MH park covered in Lonnie’s
course? It seems maybe people would appreciate a little
bit nicer one.
I’m looking forward to jawing with you guys on this just-
discovered forum. It’s an exciting business.
Regards to all
A.M.
Re: New MH’s? - Posted by Ernest Tew
Posted by Ernest Tew on September 10, 2001 at 05:40:59:
If mobile home parks in your are “absolute pits,” you may be able to buy one at a bargain price. If so, you could make a lot of money by turning it around (taking care of deferred maintenance, providing better management, filling the vacancies, and raising rents).
In recent years, we have made more money turning around parks than anything else. My book (which is available through Creative Real Estate) describes in detail how we do it.
With the use of a Roth IRA, the capital gain can be completely tax-free. (That’s like increasing your after-tax return by more than 40%.) If you want to learn more about the enormous benefits of an IRA, you can download an article from my web site, www.ErnestTew.com.