3 Mobile Home Deals in 3 Months

I am a 25-year-old school teacher in the sunny state of Florida. I always have my hands in something that generates profits on the side. I play a lot of tennis, and thank God, because one night I was in the club house chatting with someone who really knew how to make a living in this creative real estate stuff.

To make a long story short, I was hooked and studied my eyeballs out learning. It didn’t take long before I stumbled across CRE Online.–an awesome site; thanks a million.

I have been investing in mobile homes and making money. I started with buying my own house with the techniques from some of the pros, I then moved on and wholesaled a house which paid for my initial education (about $3,000 worth), and I’m still learning.

I am working the mobile home market in the area and doing well. I have bought and sold three mobiles in three months. Of course, I did it the Lonnie Scruggs way.

  1. The first deal I bought for $2,300. 12 x 60, $3,000 repairs (a little much), sold on a note for $9,000, $1,000 down, 0% interest at $200/month for 40 months.
  2. Second deal bought for $3,000, no repairs, sold for $8,500, $1,000 down, 10.25% interest for $160.28/month.
  3. Third deal, bought for $3,000, no repairs, sold on a note for $85,00 at 9% interest, $1,000 down, for four years, $186.64/month. The second two where also 12 x 60 units.

Who said that money couldn’t be made in Florida?

By CREOnline Contributor

A content contributor to the original CREOnline.com.