questions from a newcomer - Posted by tim

Posted by Greg-tx on March 08, 2001 at 09:28:52:

I would like to know the answers to your questions as well.

questions from a newcomer - Posted by tim

Posted by tim on March 07, 2001 at 21:12:04:

I am thinking about investing in mobile homes but had a few questions. What do I need to due to get a legal note created ? Lawyer? title company? or make my own contracts? What type of insurance should the new owners have on the home. Is the closing similiar to closing on residential home? Any info would be very helpfull.


Re: questions from a newcomer - Posted by John Laine

Posted by John Laine on March 08, 2001 at 20:35:53:

I STRONGLY suggest that you purchase Lonnie Scruggs’ two books “Deals on Wheels” and “Making Money with Mobile Homes” the price of these two books is so small compared to the amount of info they contain. That is how I got started.
I used all the contracts right out of the books, Maybe I should have a lawyer check them out but I didn’t and I haven’t had any problems yet. Here in AZ we have mobile home insurance, for a say $8000.00 home it costs about $160.00 a year (covers thier stuff too) the closing (in AZ anyway) consists of You, the buyer and a notary. takes about 5 minutes and can be done pretty much anywhere. I hope I gave you some answers, and do buy the books.