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Percentage of return on investment in subletting a mobile home?


Could people advise me of a estimated rate of return on investment with regard to mobile home subletting?

Lonnie Scruggs has a great book on the subject called Deals on Wheels. It costs about 30 bucks and talks about mobile home investing. The book can be found at creonline.com .
This is another great real estate investing site.
A lot of landlords discount this form of investing but you can get some killer returns be renting out or renting to own or selling tin cans. The mobile homes you buy for 3 to 4k can be fixed under a couple grand and resold for double the price often. I you sold a mobile home you put 6k into and sold it for 12k thats double your money. The interest rate you charge is higher to since the borrower is generally sub prime. You might charge 12% which is still less then the industry charges when selling them.
The key is to make sure the park managers are ok with your doing business within there park. It pays to be nice to the manager it can make you a lot of money. Some of the homes I have seen sold for 500 bucks guys have rolled up there sleeves and put in new carpets and paint and sold the homes on notes for 4500 to 5k. To turn 1500 into 5k isnt a bad deal at all.
However I warn you mobile home investing is a hands on deal and isn't any where near as passive as many people want there investing to be. Make sure you find a good handy man if you plan on this type of investing
Here is a nice site that might open your eyes on investing in mhp's and mh's its called the mobile home store
http://www.mobilehomeparkstore.com/list....
I think returns should be 75% to 100% and on up if you plan to make it worth your while in mobile home investing.
I hope this helps you

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