6 Best Mobile Home Investing Books
Mobile homes may not be expensive, but with the right strategy they can certainly be a lucrative investment. In fact, according to Reonomy, they actually have the highest cap rate of any property investment type (a whopping 7% to 10%!). They are also in great demand, especially in more expensive housing markets and areas where incomes are lagging behind. As of 2019, approximately 17.5 million Americans lived in mobile homes nationwide, representing more than 6% of the country’s total housing stock.
Sounds like a market you might want to get into? These books can get you started.
The New Investor’s Guide was written by experienced mobile home investor Laura Cochran and takes readers step-by-step through successfully finding, buying and even managing a mobile home park – and profitably. Cochran has over two decades of experience in the business and has managed more than 300 mobile home rentals over the past 22 years. She shares her tips in chapters such as “What makes a profitable mobile home park: Cap rates and cash flow”, “First steps: surveying banks” and “Buy versus develop”. Readers will notice the enthusiastic tone, detailed explanations, and useful suggestions.
With a whopping 4.5 out of 5 stars on Amazon, this one cannot be missed. In Mobile Home Wealth, author Zalman Velvel offers both a bird’s eye view of investing in mobile homes and a more detailed one. Readers are given step-by-step instructions on how to choose the right mobile home, finance the property, rent it, and more. You also get Velvel’s Success Formulas and a customizable roadmap that you can use for your own investments. In view of the almost 40 years of the author’s activity, this counts a lot.
Author David Rousher has owned and operated mobile home parks for nearly four decades and shares his hard-earned knowledge and insights in this precious volume. It’s full of real-world examples, best practices, and helpful pros and cons that only experience can provide. You even learn how to find the right tenants and fully utilize your park. Commenting on the book, one reader said: “This made investing in mobile home parks seem a lot more within my reach than I realized. If you are considering buying mobile home parks this is the best book out there to help you out . “
Lonnie Scruggs has written two valuable reads on investing in mobile homes. The first, Deals on Wheels, gives a good look at this investment opportunity overall – including the returns you can expect, how much seed capital to need, and how to negotiate a good deal. His second book, Make Money With Mobile Homes, is about improving your technique and increasing your profits. It even comes with a number of helpful forms and contracts that you can use when investing.
While this article isn’t all about mobile homes, it does contain a valuable section on investing in mobile homes and how to be successful. Lantrip is a seasoned attorney, accountant, and real estate investor, and has written countless books on investing. This currently has 4.5 out of 5 stars and largely positive ratings on Amazon.
Do you need more reading material?
Would you like to get into other areas of real estate investment? Check out our guides to the best books on: