Making Money With Mobile Homes

* The best kinds of mobile homes to buy

* Eight ways to find low-priced mobile homes

* How to negotiate an even lower purchase price

* How to determine necessary repairs

* How to make your phone ring off the hook with buyers when you resell

* How to get started with $3,500

* How to start with no money

* And much more…

Table Of Contents

Dedication 10

Foreword 12

Introduction 16

Chapter 1

Had Your FINANCIAL Check-up Lately? 22

How Do You Rate? 22

Make Money While You Sleep 23

Case #1 24

Case #2 25

Case #3 25

$1,000 Monthly & I Don’t have To Show Up 26

Compounding Power 26

Chapter 2

Which Plan Is Best? 30

What’s Best For You? 31

Financing Is The Game 33

Chapter 3

Cash vs Notes 36

The Story Of Louie & Lonnie 36

One Deal-One Check 37

One Deal-Many Checks 38

Instant Gratification, or Long Term Security? 40

Creating Passive Cash Flow 41

Think Big 41

Pretty Deals From Ugly Properties 43

A Quick Flip Equals A Long Note 44

Back To Back Closing 44

Chapter 4

The Value Of A Good Customer 46

Then I Won’t Owe Anybody 46

Spread The Word 48

Chapter 5

Let’s Get Creative 50

$3,000 Profit With No Money 50

Harry Finds A Buyer 51

Harry Sells A Note 52

IRA Money 53

From Good, To Better 54

What Happens If The Note Pays Off Early? 55

Competitor, Or Partner? 56

Results Of Working Together 57

A Word Of Caution 57

A Quick Flip Pays Off 58

What Does The Other Party Need? 59

Chapter 6

Who Says Mobile Homes Don’t Appreciate? 62

Case #1 63

Brokers Create Motivated Sellers 63

Let The Seller Name The Price 65

Sell Before You Buy 66

Case #2 67

Handyman Special 68

A Total Rehab 69

One Question…$800 71

Follow The Rules 72

How To Get Five Extra Payments 74

Case #3 75

Trade For New Double-wide 76

Chapter 7

Adult/Senior Parks 78

Throw Away The Snow Shovel, Mabel 80

It’s Just Not Home 80

Determine The Sellers Motivation 82

What To Check First 83

Ways To Sell 83

Try A Test Ad 85

Other Ideas 86

Ask For A Lease/Option 88

Just Do It! 87

Chapter 8

Fear Is Expensive 90

The Monster That Cripples 92

It Took Seven Years 93

Deal #1 94

Deal #2 94

Deal #3 95

Deal #4 95

Chapter 9

Turn Short Term Profits Into Long Term Income 96

Rent The Dirt, Sell The Home 97

Payee, Or Lessee 98

A Lifetime Of Income 99

Chapter 10

Dealing In Doubles 100

Give Them A Choice 101

How Much Down, How Much A Month? 103

Now, For The “Rest Of The Story” 104

It Turned Into A Money Machine 106

Chapter 11

Fortune In Fix-Ups 110

Should You Fix-up, Or Sell “As Is?” 110

Two Types Of People 112

Learn To See Dollar$, Instead Of Debri$ 113

Creating Profits 114

TV Could Be Costing You $125 An Hour 116

How Can You Lose? 116

Financing Is The Key 117

Hire Some One To Do The Work 118

Learn About Repair Work 119

Spend Your Time Where It’s Most Efficient 121

Chapter 12

Partners Means Profit$ 124

Find A Partner Who Thinks It’s Fun 124

Seller Owes $7,300. We Buy For $1,800 127

No Time For Repairs 130

How Do you Spell Doozey? 131

Hey Jack, Have I Got A Deal For You 134

Chapter 13

Recover Your Investment Within 12-15 Months 136

$795 Monthly On $8,000 Investment 136

Low Price–Low Risk 138

Chapter 14

If You Snooze You Lose 140

What Sign? 140

$60,000 Price Reduction 143

Time For A Counter Offer 144

Janet Has A Contract 145

How To Get A Pay Raise 146

How About A Discount? 148

You Can Do It Too 150

Develop PMA 151

From “Yours” to “Ours” 151

Up-Date On The Park 153

Auto Pilot 153

My Challenge To You 154

Chapter 15

Late Payments Are Great 156

I Love Late Payments 156

I Have Been De-Bugged 157

Why Grown People Cry 158

They Never Learn 159

Late Again? Thank You 160

The Real Difference 162

Chapter 16

Can’t Buy For $2,500? Then Pay $5,000 164

A Sunday Drive Pays Off 165

Learn Your Market 167

Sell Before You Buy 168

Paying $5,000 Is Still Good 169

Chapter 17

Estate Sales 172

It Pays To Advertise 172

$7,300 Cash Profit 173

Chapter 18

How To Create 10 Years Of Payments 176

A Change Of Plans 177

Establish A Line Of Credit 181

Partner Up With An Investor 181

Cash Is King 182

We Sold The Lot 182

Chapter 19

Right Place–Right Time 186

I Could Smell Blood 187

Two Questions–$2,500 188

The Value Of A Good Lawyer 189

Purchase Price Determines Taxes 192

$20,000 Lot For $5,600 195

Chapter 20

The Cold, Hard, Facts Of Life 198

Don’t Wait Until It’s Too Late 200

Start Your Memory Bank 202

Shut The Doors And GO! 203

Appendix

Purchase Agreement 208

Sales Agreement 210

Credit Application 212

Promissory Note 214

Lot Rental Agreement 216-218

Buy/Sell Info Sheet 220

Smoke Detector Verification 222

Power Of Attorney 224

Mobile Home Web Sites 226

Manufactured Housing Associations 228-230

About The Author 232

Want it right now?

MAKING MONEY WITH MOBILE HOMES E-book. $19.97 Immediate Download
Or call 1-800-542-2270 to use a credit card or send a check. A copy shop can print and bind it for you for about $10.00-$15.00.

And don’t miss Lonnie’s companion book Deals On Wheels.

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Make Money While You Sleep

Regardless of what kind of job you have, how well you like your job, and how much that job pays, you need to have something producing income for you that doesn’t require you to be there. You should have cash flow coming in if you’re sleeping, fishing, on vacation, or too sick to work. If your only source of income is from your next pay-check, and you lose your job, how much cash flow will you have coming in?

If you lost your job tomorrow, how long could you support your family on what you have now? These are serious questions you should ask yourself. And if you don’t like the answers, start making plans now for your financial future. So, what to do? “Hire” some “employees” to work for you. And what’s the best kind of employees you can have? DOLLARS!!!

I consider every dollar I invest, another employee working for me. With proper management, each employee works 24 hours a day, 7 days a week. They never call in sick, they never go on strike and they never complain about working conditions. And my employees never have to worry about being “downsized” either.

But if I get lazy, or don’t do a good job of managing my employees, my income will decrease, and maybe even stop. So you need to develop good financial discipline, and good management skills in order to get the most from your “employees.” Let me share a couple of my latest investments in order to give you a better understanding of what I mean.

Case #1.

I paid $17,000 for a mobile home lot, and the mobile home. (Just the lots alone in this park sell for $17,000-$20,000). I sold the home for $5,900, $600 down and a note for $5,300, payable $209.10 for 32 months. So even though my mobile home employees are “temporary
employees”, they will produce excellent cash flow. If I practice good
financial discipline, I’ll use the cash flow they produce from the mobile home payments, and find them another job before their temporary job runs out.

Since I was able to sell the home for $5,900, that means I now have only $11,100 invested in a lot that’s worth $17,000-$20,000. The couple who bought the mobile home, also pay $250 monthly lot rent. And most likely, the lot rent will increase each year with very little, if
any, additional cost to me. And I won’t need to be there to make it
happen, just a rent increase notice, and a postage stamp. (Update: Lot rent is now $275.)

So these 11,100 employees will be long term, cash producing workers. And if I’m a good manager, they won’t ever get a day off. What a slave driver, huh? If I do nothing but bank the monthly cash flow, these 11,100 employees will provide a good yearly shot for my financial health. (Incidentally, we now have 29 lots just like this one, all paid for from the cash flow that our “temporary employees” earned for us. These 29 lots are producing steady and reliable cash flow every month. And I don’t have to show up to get paid. Our employees are doing the work, and we get the money. Why not use this concept and do the same thing for yourself?

…….

Foreword

Someone said, “If you don’t understand money, you’ll spend your life working for people that do.” How true, how true. Yet, the schools teach very little, if anything about money.

The majority of students graduate from high school with no knowledge of how money really works. Most graduate without knowing anything about investments, compounding of interest, how dangerous credit cards can be, or even how to balance a checkbook. The schools teach them how to be an employee, and work for a pay-check, but nothing about the financial world. So the majority of those young folks enter the real world totally unprepared

The six o’clock news ran a story recently about a woman who had just won $100,000 from one of the junk mailers. When she opened her door, and they presented the check to her, the cameras were rolling. The excitement of that lucky woman receiving her check was all captured in living color. When she finally finished squealing, hollering, and jumping up and down, she was asked what she planned to do with her winnings. This was her answer.

First, she was going to buy herself a new Lexus, because she had always wanted one. Then she was taking her son to the store and buy him those $150 sneakers so he could be like the other kids in his
class. Then she would put a down payment on a house. Then she would have her brother invest part of her winnings. And finally, she would start a savings account with the rest.

This women was in fantasy-world, big time. She had no idea, and it never even occurred to her, that about 75% of her $100,000 would
be gobbled up by good old Uncle Sam and that new Lexus. She not only didn’t understand anything about money, she couldn’t even do simple math.

And sad to say, her financial ignorance is shared with the majority of the people in this country. But it doesn’t have to be that way. With a little financial intelligence, and self discipline, you can create your own financial security, and financial independence. You don’t have to settle for a pay-check, or have someone else dictate how much you earn.

I can say that now, but it wasn’t always that way. You see, I once suffered from the same financial illiteracy as that woman who won $100,000. There was a time when I thought working two jobs was the
answer to your financial dreams, and your financial goals. When it finally become apparent that working two jobs, and long hours, wasn’t
the answer, I decided to make the effort, and the sacrifices, and learn how money works. I couldn’t understand how some people seemed to have plenty of money, yet others, who worked much harder, and longer, had so little. But I made up my mind to learn.
So I made the effort, and the sacrifices, and learned how to become financially literate and financially secure.

It’s my sincere hope that this book will help get you started on the road to your own financial security, and financial freedom. In this book, I’ll be sharing many of the same techniques and strategies
that played such an important role in my own road to financial success.

This may come as a shock, but making money is one of the easiest things you can do…if you take the time to learn how. If you don’t learn, then making money can be the hardest thing you will ever do. But, it’s not that difficult to learn if you’re willing to change your thinking and forget what you’ve been taught about money.

If you work a week for one pay-check, you’re somebody’s employee. If you work a week, and get checks for years, then you’re somebody’s employer. Which would you rather be?  People who choose (and it is your choice) to work for others all their life have very little chance of ever becoming financially independent. If you’re making payments on a car, a loan, a credit card, a vacation, and etc., you’re an employee of the person you’re making the payments to. And you’ll be their employee until that debt is paid off. On the other hand, if you create a note, and obligate somebody to send you a check each month, that person will be your employee for the term of your note.

In this book I’ve shared a number of ways which you can use to create your own “employee.” I urge you to read and study, then read
and study some more, until you fully understand the techniques and
strategies. Then pick one you like, and start your business. There’s no magic, or secrets. It’s simply having the desire, determination, a
positive attitude, and the wiliness to do what most people are unwilling to do. The opportunities are everywhere, but you must train
yourself not only to recognize opportunity, but to take action when you see an opportunity. If you will do that, you will achieve your financial goals, and dreams.

As you travel your road to success, please don’t get so busy or too successful that you fail to find time to lend a helping hand, or give a word of encouragement to that person in need. One of the best
feelings you can have, is to be able to help someone in need, without
any expectations of anything in return. I think Zig Ziglar said it
best. “You can have everything in life you want, if you will just help
enough other people get what they want.” Now, let’s learn how to make money.

Introduction

According to figures put out by the IRS and the Bureau of Labor Statistics, 12% of Americans over 65 are living, or trying to live, on
incomes of less than $5,000. Only 4% of people over 65 have annual
incomes of $30,000 or more, and only 3% have incomes over $50,000.

The average annual salary of a full time worker with a high school education is $24,180 ($11.63 hr). For a full time worker, without a high school education, it’s $16,848 ($8.10 hr.) (These are
last years statistics, which may be somewhat different by now, but
probably not a significant change.)

These reports go on to say that 58% of the working people have
taxable incomes of less than $25,000, and only 2% have taxable incomes of $100,000, or more. How could only 2% be making over $100,000 while the vast majority are making only $24,000?

The only logical explanation I can see is knowledge & education, (or maybe I should say the lack of knowledge & education), and the choices we make as we go through life. If you choose to be “average” (and it’s your choice), then you will get average results. If average is your comfort zone, and you’re happy living in that zone, good luck.

If you’re happy working a job, and you’re earning all the money you need, congratulations. If your job will provide you with the kind of retirement and security you want when you get old, congratulations again. If not, then you obviously have to get out of your comfort zone, make the necessary effort, and commitment, and do something the average person doesn’t do.

Approximately one million workers are being “downsized” (that’s a polite way of saying, “You’re Fired!”) each year. For years, many of these people were happy in their comfort zone and thought they had a “good secure job.” Many worked a job they didn’t like, that paid just enough to live on. And most of them failed to learn how to do any more than what their jobs required. Since it was easier to stay in their comfort zone and continue doing the same thing every day, they
never made any real effort to do any better.

Recently on the evening news there was a story about a woman
being downsized after 27 years on the same job. Her job was inspecting TVs coming off the assembly line. For 27 years she was in her comfort zone and made no effort to improve her knowledge, education, or learn how to do anything different. Then when her time came to be downsized, she wasn’t qualified to do anything except inspect TV’s.

Is there a lesson to be learned here? As the saying goes, “If you continue doing the same thing you’ve always done, you will continue
getting the same thing you’ve always gotten.” (Unless you’re downsized.) Somebody said that the definition of insanity is “Doing the same thing over and over and expecting to get different results.”

Be Willing To Pay For Your Education

Over the years, Joanne and I have spent many thousands of dollars going to many seminars and conventions. Not that we could always afford to go, but rather because we couldn’t afford not to go. We had a choice to make. And our choice was to spend the money back then to get an education so we could enjoy a future of financial security. Education doesn’t get “downsized”, and once you have it, nobody can take it away from you.

I’ve heard it said many times that you WILL pay for your education at some point in your life. And you get to make the choice when you will pay. You can pay your dues when you’re young, healthy and able to work. Or, you can pay when you are old, sick, broke and unable to work. The choice is yours. When will you pay?

Take Time To Learn

I gave a seminar several years ago, and whenever I think of that seminar, two men instantly come to mind. One was a plumber that
called saying he wouldn’t be able to attend the seminar, but would like to stop by and get my books, which he did. He said he sure would like to sit in on the class, but he had a plumbing job he just had to do that day. I never heard from him again.

The other man was about ready to retire from the Marines after 28 years of service, and he wanted to learn something he could use after he retired. He called me about two months after the seminar saying he had done two mobile home deals. He “thought” he did O.K., but he wasn’t sure because he didn’t know how to use a calculator. So he asked me to give him a crash course in using one.

After 30 minutes or so on the phone, he got the hang of it and punched in the numbers on one of his deals. In fact, he punched the
numbers in several times, because he didn’t believe the answer he kept getting. After I agreed with his numbers, there was a long pause. Finally he said, “My God, this stuff is scary.”

It cost the marine $295 to attend that seminar, but how much did it cost that plumber by not attending? There’s really no way of knowing, of course, but let’s suppose the plumber made $500 on that job that he just had to do that day. How much has he lost by not learning what the Marine learned? The plumber did one job and got one check. The Marine did one deal and got many checks. Plus, he now has the knowledge to do the same thing over, and over.

Pick A Bracket

The records show that 95% of the people that reach retirement age will need some kind of help, or a part time job, in order to live a decent life. Yet, those people had the same opportunities and the same choices to make as we did. They just made the wrong choices. They chose to be average all their life. And, most “average” people wind up in the 95% bracket.

So which bracket will you choose? When will you pay for your education? Will it be now, or later? Do you choose to be “average?”
These are all choices that you get to make. Choose wisely, because your financial future will be determined by the choices you make today. I hope this book will help you make the right choices.

About The Author

Lonnie Scruggs was born and raised in Virginia. He has been in some type of business most of his adult life. For nearly 30 years he owned, rented, managed and maintained his own rental properties. After becoming a burned out landlord, he began selling off his properties and started buying discounted notes and mortgages. When it became more and more difficult to find good notes he found a way to make his own. He discovered how to create his own “Mobile Home Money Machine” by buying, selling and financing used mobile homes.

His two books, Deals On Wheels and Making Money With Mobile Homes, explain in complete detail his simple, unique, and proven system of how you too can create your own money machine. Lonnie shows you how to put your money to work for you, instead of you working for your money. Lonnie says you should “Never Let The Mail Carrier Pass Your House Without Leaving A Check.”