Investing in Mobile Homes … AKA Cash Flow Machines
Mobile home investing may not be the most glamarous investment strategy . . . but I’ve got to tell you, it has it’s perks.
I had to go meet a local real estate investor, Eli Sanderlin, out at one of his mobile homes that he’s renovating and snuck in a quick video.
Eli’s going to share with us the numbers behind this deal and tell us how he’s going to be able to pull out all of the cash invested back out of the property inside of a year . . . and from there . . . nothing but sweet cash flow to the tune of $350/mo.
How many of you could use an extra $4,200 every year (and that’s just if you did 1 little old deal). Eli has bought over a dozen mobiles over the past few months and is quickly understanding that as far as cash flow goes . . . it’s hard to beat ‘em.
Check out the video now . . .
If you guys have any questions about investing in mobile homes, put them in the comment area. I’ll see if I can squeeze a little more info out of Eli for you.
Happy Investing!
Oh yeah, almost forgot . . . if you’re not already subscribed to my YouTube Channel, get on over there so you don’t miss any of my creative real estate investing videos.
Tags: buying mobile homes, cash flow, Eli Sanderlin, investing in mobile homes, mobile home, mobile home investing
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Patrick Riddle:
Dusty Keefe:
I would love to learn more about the how to in mobile home investing. We have a few moble home parks in my area of Maryland. But I would like to learn how to invest in this erea. Patrick I appreciate the helpful information you prove.
Thanks – A – Million .
I’m interested in how to set up a squeeze page and auto responder…any directions?
Ray
Hey Paula … have you ever checked out Lonnie Scruggs stuff? I think he has a course called Deals on Wheels. I’m not sure how good it is though … never checked it out myself, but heard he was THE mobile home guru.
Ray … check out this free resource http://www.mustknowinvesting.com/josh … I think it will help you with your REI internet marketing questions. Let me know if you have any further question …
~ Patrick
now with this buying mobile homes. Is this guy buying the mobile home park? or just homes within the park?
if he is just buying the home inside the park? what happens when someone falls behind on payments? does he become responsible for lot rent while he tries to resell?
Great question Steve …
Eli has just been buying the homes in the park. If one of his tenants fall behind on lot rent, he has to pay it or risk losing the mobile home.
If you buy a mobile in a park, you’re responsible for lot rent as long as you keep the home in that park … whether selling or renting.
Let me know if you have any more questions …
~ Patrick
Does Eli hold the title to the home or does he give them the title and is just the lien holder. Also does he keep insurance on the property?
Hey Frank,
It’s my understanding that Eli holds the title (just like a car loan).
If he did a straight rental, he would be the one getting the insurance. If financed, the “tenant buyer” would.
~ Patrick
Are there any mobile home study courses that offer any analyzer software to estimate ROI, etc?
Good question MG. I have a contact that may be able to help you. I’ll shoot you an email with the info.
~ Patrick