Here is where I detail my adventures in real estate. It's meant for people who want to get into this investment area but need some encouragement, help, or just a general push in the right direction. Hopefully, by detailing all my experiences, you'll see it's really not that difficult or scary.
Mobile home owners in a Florida beachfront mobile home park agreed to sell their park to a developer for over $510 million in 2009. If the sale goes through, most owners will get over one million dollars. The full story is here.
Posted by
Shaun
at
3:04 PM
© 2006 Shaun | Site Feed | Back to top
4 comments:
Shaun,
Mobiles are not bad investments when bought right. Have you read Deals On Wheels by Lonnie Scruggs?
I haven't read that book, but I have read a little bit about investing in mobile homes and know they can bring decent returns. In fact, I looked at buying one about a year ago, but passed. Details here and here.
Dayam! That IS a good return!
Its best to buy mobile homes for the cash flow not for resale or hoping for an equity increase. Buy foreclosures needing repair, singlewides on .25 acres for example for 20,000 or less including the land that you can put 2,000 into repairs and rent for 600/month. Figure that yield, and I think you will decide that it is goodenuff even without any appreciation.
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