Hello everyone, I am a new investor who is trying to get started mobile home investing in Kansas and have read Lonnie Scruggs book on mobile home investing. However, I didn’t really notice a step by step process on what you should do when getting started. I am not a person who is afraid of hard work or making mistakes at all. I just need to be pointed in the right direction to insure I am working efficiently as possible as to refrain from holding onto an empty mobile home for extended periods of time.
Any and all advise and guidance is very much appreciated. Thank you!
The first step is identifying parks you can find some good deals in. Do a google map search for mobile home parks in your area. Then go driving around each of them. Do they have homes that look like Lonnie Deal opportunities? Or is everything in tip top shape?
Talk to the park manager to see if they know of anyone who needs to sell. Ask what their policy is for new residents.
You can avoid getting stuck with a mobile home that won’t sell by just getting an OPTION to buy with a stipulation that you will complete the transaction once you have a good tenant/buyer lined up.