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The Only People Getting Rich Renting Mobile Home Parks Are Tenants and Maintenance Men



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Why Lonnie Scruggs' Mobile Home Park Deals Don't Work for Me - By Dave Reynolds

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There are a lot of books out there extolling the financial benefits of buying mobile homes for purposes of renting them out. DON'T BE SUCKERED INTO THIS WITHOUT GETTING THE FULL STORY. These books generally leave out three important problems that turn any proposed economics into bankruptcy.

They are: So what does this mean? It means that any revenue you take in will immediately go back out the door (and then some) in repairs and make-ready, and legal fees.

Don't believe us? Look at the financial statements of those publicly held REITs that rent mobile homes and see how impressive those numbers are. Or talk to someone who has already made such an investment and see how they're doing. You'll soon get the accurate picture.

I once had a guy come up to me at eviction in court, out in the hallway. This guy liked to go around and buy properties this way, hoping that disgusted landlords would sell them cheap, and he would then throw them into his slumlord empire. I told him my properties were mobile homes, not stick-built houses. He looked at me and said "I don't deal in that junk; there's no money in it!" That's the most accurate analysis I've heard (unless you own the park).

So why do they sell such books? Because everyone wants to believe that there is a great rich quick scheme out there, even when they know it sounds too good to be true.


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Free PDF Download
Why Lonnie Scruggs' Mobile Home Park Deals Don't Work for Me - By Dave Reynolds

Name: Email:

About the Author: Dave Reynolds

RSS for Dave's articles - Visit Dave's website
Dave Reynolds has purchased and operated over 50 mobile home parks across the United States since 1995. He is also one of the nation's leading experts in this industry. Reynolds is sharing his expertise to anyone interested in getting involved with mobile home parks. He is the author of the Mobile Home Park Home Study Course, which contains everything you need to know in order to get started.
Click here to visit Dave's website.
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