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Why I Love Mobile Homes - REAL ESTATE INVESTMENT ADVICE - MREIA

By Pauline Harrison,2014-11-22 14:53
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Why I Love Mobile Homes - REAL ESTATE INVESTMENT ADVICE - MREIA

    Why I Love Mobile Homes

    By

    Stu Silver / Zalman Velvel

    When you are fortunate enough to live a

    half century or more, have a long gray

    beard, and have a few bucks, sometimes

    people younger than a half a century, with

    no beard and less money, ask you for

    advice. (I‟m not sure if it‟s the beard or the

    bucks that is the key ingredient, but it‟s probably the bucks.)

Two of the questions I am most frequently asked are:

    1- What career should I choose?

    2- If I choose a career in real estate, what should I invest in?

    Whenever I answer, I try to imagine that the person asking is a member of my family, like the picture above, and that the answer will set an important milestone for the rest of their life. Then I answer like my Dad. He told me, “You‟re going to spend a lot of time working, so you might as well enjoy it. Pick something you like doing, which will probably be something you have talent in, and chances are you will be successful. Don‟t choose something

    where the only reward is the money, and not the steps that lead to it.

    What my Dad didn‟t say, but I then add, is that every career has its ups and downs, and days when you want to say, “Who needs this

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aggravation?” Every career is like that, from what I‟ve seen after living

    more than half a century -- even that of a superstar. What separates success from failure is the ability to persevere, and it‟s easier to persist in

    that which you enjoy, and

    easy to quit something that

    only frustrates you and

    whose only reward is money,

    like the bill on my left.

That being said, when the second question is asked, “If I choose a career

    in real estate, what should I invest in?” I answer the same: “Pick an

    investment you like, because you are going to spend a lot of time on it, and you might as well enjoy it.

If you like working with business people, invest in commercial property

    offices, stores, warehouses, etc. If you like raw land, invest in farms, develop residential subdivisions and/or industrial parks, etc. If you like working with the elderly, invest in ACLF‟s, health care facilities, nursing

    homes, and the like. If you like houses, then own houses. If you love apartments, then buy duplexes, triplexes, and apartment buildings. The real estate investment field is rich in its diversity, and will make you rich if you choose wisely. Yes, you must choose wisely, with your heart and

    with your pocketbook. No matter how much you love an investment, it‟s just no fun going broke or working for free, so make sure before you invest

    that you are going to make a profit, and are aware of all the risks.

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    I own warehouses, mini-warehouses, single family houses, duplexes, a motel, an outdoor storage yard, offices, stores, etc., but I specialize in my

    favorite investment, mobile homes and

    mobile home parks. Why? Because I

    love ‘em. I love the new ones,

    straight out of the factory, which are

    now built better and cheaper than site

    built homes (I.M.H.O.). Look at the

    home pictured on the left and tell me it

    isn‟t beautiful.

    I also love the older ones, which I can buy for less than $10,000 on a leased lot, and they still provide a safe, healthy home for people, while providing lots of cash flow.

    I love the feeling of empowerment I get from moving a mobile home onto a vacant lot, which only eats money (taxes, insurance, and interest), and

    converting it to an income

    earning resource that

    provides shelter for a

    family. The home pictured

    on the left was the first

    mobile home I ever set up

    on a vacant lot, with the

    chickens and the BMW of the physician‟s assistant who bought it from me.

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And yes, I love the mobile” in mobile home, having the flexibility to move

    it from one place to another, if the need arises. I don‟t need to call them

    manufactured homes so that I will respect them more. I love and respect them plenty already.

    Recently, I was training a group of future mobile home investors, and while the class was out at lunch break, I bought a mobile home. It cost $11,000 with the lot. It came with an excellent rent-paying tenant and will earn 25% a year after all expenses. When the class returned from lunch, they were surprised to see me signing a contract with the broker and handing over an escrow deposit.

When I started the class again, I said, “Hi, my name is Stu, and I am a

    mobile home addict.” The class answered, like a true 12 step group, “Hi,

    Stu!” Then I added, “I have come to realize I am powerless over my

    addiction to cash flow.”

    I could give you many more reasons why I love mobile homes, but I will stop here. In my next article, I will talk about my love for mobile home parks, which just means buying them in bunches, instead of one at a time. I love a mobile home as an individual, and I also love them in groups.

    Before I close, let me add what my Dad also told me about selecting a career. He said, “If you‟re lucky, you will get to work at something that

    helps people, because in the end, all we really have is each other.”

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    When you choose a career in mobile homes, which are the most affordable form of housing we have, you will get that chance.

    # END #

    Stu Silver is a real estate investor, writer, speaker

    and trainer who deals with the lucrative, but often

    overlooked, subject of Mobil Home and Mobile

    Home Park investment. Mr. Silver and his family

    have real estate holdings that include over 500

    rental units, comprised of 11 mobile home parks,

    warehouses, mini-warehouses, offices, single

    family homes, duplexes, and motels. Under the

    pen-name of Zalman Velvel, he has written two

    well-received books: Mobile Home Wealth and

    Mobile Home Wealth Part 2: Mobile Home Parks, which are available

    on www.MobileHome.com, on Amazon.com, and in many bookstores.

    Mr. Silver has been a full time investor for more than 28 years. He holds the coveted CCIM designation, and is licensed as a real estate broker, mortgage broker, auctioneer, mobile home

    dealer, and former real estate appraiser. As a licensed real estate trainer, Mr. Silver has trained

    more than 5000 people in real estate investing, in 3-day bootcamps and live on the internet.

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