This is the page for Mobile Millionaire, the book I've written about investing in mobile homes, for the small investor. On this page, among other things, you can read excerpts and order the book, by using your credit card (the purchase will actually go through PayPal; it's free and is ABSOLUTELY the most secure way to order things on the Internet).
I'm Jeff Bushman and I've been buying and either selling with financing or renting out mobile homes for about 5 years. Getting into such investment is very inexpensive and in the book, I even reveal how you can get involved with no cash out of pocket. It's not the old "no money down" schemes of a few years ago. I typically buy a mobile home for a full price of less than $5,000 and make them available for rent for less than apartments cost in the area. This isn't substandard, slummy junk, either. The book will tell you everything you need to know.
By the way - if you live or want to live in the eastern part of the Valley of the Sun, I may have a mobile for rent right now, very inexpensively.
Otherwise, consider the book. It's only $15.00 and could be worth a great deal more to you.
If you don't have a credit card, I can arrange for you to obtain the book anyway, but you'll need to call me. How? 480-628-9786. You can also call me if you have any questions about the business or the book.
The normal way of receiving the book is by getting it as an attachment to an e-mail, in the form of a ".pdf" file.
The book also contains the forms you'll need to copy from , though we plan on making the forms available, shortly, on a separate CD. What's on the CD is all the forms in Microsoft Word document format, so you can copy them into your computer for your use, very easily.
Following the "Buy Now" button (Pay Pal), is a long excerpt.
Buy the book.
Thanks for your attention.
Jeff
E X C E R P T
Now On To Investing With Little or No Money
Partner With One or More PeopleSomebody once said that whatever you need, someone you know will have it if you don’t.
You probably know someone with $5,000. If you don’t have it and you want to get her/his money to help you begin your MH investment program, you need to tell her/him what you’ve learned from this book (you may want to wait until you’ve finished it), and propose to find the property, get the option, advertise the property (or get them to pay for the ad you’ll place – see our section on how to find renters), and manage the property, in exchange for which you’ll evenly split the net profit from the investment. You can also set it up so that if the investor has to add to the investment to make repairs (about which you should warn her/him, when first discussing the investment), that repair will be paid back by providing 75% of the net to her/him, until the 25% additional pays off the repair.
Assuming your would-be investor goes along with you, (s)he’ll get 24% on the investment (assuming a $5,000 investment and a $200/month net), which is likely better than (s)he’s getting anywhere else, especially with no management or effort. You’ll also be getting $100/month from that property, if no substantial repair is required. Small repairs can come out of the rent payment and will reduce the net from which you’ll each take 50%.
Once the income has flowed for a year, you can ask your investor if (s)he would be interested in an additional investment. If that investor’s not interested, find another. Once you have 5 such partnered properties, you’ll have income from the properties of $500/month. In ten more months, you can buy your first property without a partner.
Lease/Option, then Sublease
We touch upon this elsewhere, but one possibility is to talk to a seller or renter of a MH about the possibility of leasing the MH with an option to buy it. Just make sure that there’s nothing in the written lease/option agreement prohibiting subleasing (sometimes called “subletting”). If there is, discuss a change with the seller/lessor.
After you’ve leased with an option to buy you can rent it out to someone else (technically your “sublessee”). Even if the income is small, it’s enough to start saving, so you can do your purchase of another MH, later.
I’m not crazy about this particular method for someone with very little money, because if the property goes vacant, you still have a payment obligation, and one month of vacancy (and certainly two) could really screw-up your plan.
Credit Card with PayPal – Setting-Up An Account For Your Seller
I hesitate to suggest this one, and I just did this for the first time, myself. The reason for my hesitation is that I don’t want you to get into credit card trouble. With that in mind, I’m going to suggest a specific course to avoid that, while you build up your investment portfolio and make a lot of money.
First, however, I’ll tell you how you can buy a MH with a credit card, assuming you have one, and have no debt on it (if you do have some debt, get that paid off first). Go to Paypal.com. Once you’ve found the MH and the seller you want to deal with, you indicate you wish to do a money transfer to a friend.
You’re going to help your seller, once you’ve decided on a price, to set up the Paypal account. You should pay the fee that Paypal charges. The cost for this service is about 5%. If you run into a jam, contact Paypal.com , or someone you know who’s made sales on Ebay.com. They have a merchant account and can help you. To reach Paypal, call them at 402-935-2050.
Also, do it this way, rather than getting a cash advance on your credit card since, that costs extra, since they generally charge a fee for that and often a higher interest rate.
Again, assuming our typical price of $5,000...
WANT MORE? SEE ABOVE. THANKS.
