Infinite Yield on My First Mobile Home Deal

I just wanted to share my success story with you. I purchased Deals on Wheels by Lonnie Scruggs about four months ago. I knew right from the start that this was going to be my kind of business. I started telling everyone I knew about what I was doing and that if they found any deals for me, I would give them a commission.

Three weeks ago, a lady I work with told me about an older women in her mobile home park who could no longer live by herself. Her daughter was going to move her back home with her and needed to sell her mobile home fast. I went over to look at the place. It needed some work.

She also mentioned that she hadn’t been able to pay the rent on the lot for two months, and she owed one year of back taxes. When I asked her how much she wanted for it, she said “enough to get moved.” I told her I would rent a truck and help her move. She agreed, and she signed the title over to me.

I put a little over $700 dollars into fix up, two months’ back rent at $716, and $93 in back taxes. Then I put it in the paper for $2,500 dollars down and $185 per month for 60 months–no credit check. I helped the new homeowner move in last Saturday. I got my initial investment back plus money in my pocket. And I have $185 per month cash flow that I don’t have to work for. I could get used to this.

By CREOnline Contributor

A content contributor to the original