Invest in Mobile Homes In Parks
Would you have ever thought that a mobile home could be a great investment vehicle? Let alone a mobile home in a mobile home park? No matter the stigmas and stereotypes, mobile homes are great little cash cows. There are so many ways to make money from mobile homes, it would be a shame to retain a negative perception of these little money machines. I hope to open up your mind to the possibilities that mobile homes offer and remove those stereotypes for you. Why? Well, simply because if you still hold those beliefs to be true, you will have a very hard time seeing and realizing all of potential these little moveable homes possess.
No matter how much money you have right now, you can make money investing in mobile homes. You can invest a minimal amount of money and make a great return. Depending on how aggressively you approach investing in mobile homes, you could have a nice monthly cash flow and no longer work for someone else. If you have invested in real estate before, you know that a monthly positive cash flow of $300 or more dollars per single family home is a rare thing in some markets. But, i do know there are some real estte markets, where you can make that kind of cash flow if not more, however, these real estte markets are not everywhere and not for everyone. In many cases, they are in low income areas that have been hit very hard by the economy and might be many miles away from where you live. What if I told you that you can make that and more each month on one mobile home over 5-30 years without the headaches of being a landlord!!! If you buy and sell mobile homes the way I do, you will have this same type of cash flow each month from one mobile home. Now consider if you had a bunch of these producing the same cash flow each month? Let’s say, you had just 18 of these producing $200 a month, you would be bringing in $3600 positive cash flow a month. Would you be able to quit your J-O-B then??? You definitely would not have to worry about making sure the tenants needs and repairs are taken care of each month and pay a property manager to manage those issues for you. You would be receiving a monthly check from someone who owns the mobile home and wants to pay you so they can eventually own it outright. I have only had about 10% of my seller financed mobile homes go into default. The benefit for me is that I have already received my initial investment back in full and in most cases have already received a profit before they went delinquent on their loan with me. I just clean the place up, collect another down payment, and monthly payments from the next buyer who want to own my mobile home. I don’t have to worry about being able to qualify to refinance a loan either, because it is paid in full within 6 months to a year of selling the home with financing. I have the same type of cash flow as a site built rental property without the outstanding debt or the headaches of being a landlord.
What if I told you that you could do this with only a few thousand invested? Yes, you read that right and it does not even have to be your own money. Most of the mobile homes I buy are bought for $6,000 and less. Do you think you could raise at least that and buy your first mobile home? I am sure you can get at least that much if not more. After all, how many of you have a credit card, a savings account, a car, boat, atv, travel trailer that you own free and clear, equity in real estate, retirement savings account, or a few friends or relatives. If you do not have any of these to utilize, you could set up your business and gain a business line of credit with a local bank. I set up a business banking account and asked for a line of credit. The bank asked me to fill out a form and within 12 hours I had a line of credit for $5,000. I did the same thing at another local bank and got the same thing. You can see the trend and the amount of cash you could have at your disposal without much effort or time exerted. You can network and find others who have money and want a great return. You can network with people who want to make a better return on their money. At one point in my business, I wanted to move into buying mobile homes on land, so I was looking for funds to acquire these in Arizona. I started networking within my sphere of influence and a good friend of mine suggested getting in touch with a local hard money lender. I called him to see if he was willing to invest in mobile homes on land in Arizona. He said that he was not interested in investing in that market, but that he liked to invest in Utah and asked if I had anything I was looking to invest in Utah. I told him that I did not have any mobile homes on land in Utah, but I was actively buying mobile homes in parks. He was intrigued and asked me to explain a little bit more about what I did. To say the least, he asked me to put together a prospectus and outline of the deals I had done and meet him for lunch. We had another meeting after that, which is the meeting that he offered to fund all of the deals I wanted to get into as long as I taught him how to do the business. We were going to split the proceeds for each deal after he received his initial investment back plus 10%.
Okay, well what if none of these work for you and you still can’t find money to buy mobile homes? There are peer to peer lending networks or P2P lending networks that you can post your money need and have a network of people bidding on your offering and help you gain the funds you need to start or continue buying mobile homes where you can make amazing returns. These are just a few of the sources I have tapped into to find money to buy my mobile homes in mobile home parks.
So, do you think you can make money investing in mobile homes now? I hope you can at least see the potential now. Really, the only obstacles you face are those that you place in your own way!!!
Learn how easy it is to invest in the Mobile Home Real Estate Industry! Please register for our FREE Mobile Home Investing Webinar called Tin Can Profits! (Yes, that’s what we call it.) on Jan 24, 2013 7:00 PM MST at:
While the rest of the investing world jumps on the latest Real Estate investing craze, avoid the competition and market mayhem by investing in Mobile Homes.Investing expert Dawn Erling will show you how easy it is to make money in this lucrative market. She will give you her inside ideas and tricks that have helped make her the mobile home investing expert she is today. Be-aware that this niche isn’t for everyone… so if you are looking for lower investing price points, faster turn-a-round investments, and how to make quick cash then join our free webinar! WholesaleDealmatcher.com is proud to sponsor of this webinar. After registering, you will receive a confirmation email containing information about joining the webinar.