“You should never let the mail carrier pass your house without leaving a check.”
- Lonnie Scruggs
Recently, I’ve had a lot of folks contact me asking what the difference between some of Lonnie’s as well as other mobile home investing materials out there and which one I’d recommend the most. So, I’ve decided to go ahead and start a new series of posts – book reviews.
For those just starting out and learning about mobile home investing, I highly recommend Lonnie’s book – “Deals on Wheels.”
The reason why I recommend this book is that is the foundation and learning point – it explains the concept of “Lonnie” deals, what they are, and why they are beneficial. Basically, Lonnie lays out the blueprint in this book to his system of creating passive income.
Having a strong foundation is the building block – it is everything. Without a strong foundation, a house will not be able to sustain itself and will eventually fall.
Many have asked which of Lonnie’s books would be a better buy. For those just starting out, I’d say start out with “Deals on Wheels.”
I recommend giving it a good read. Then, I recommend reading it again. Why?
The way most folks learn is through repetition. When we see things and do things over and over again, that is how messages and information get ingrained in our minds. There’s an old saying in advertising that we must see an ad at least seven times in order to remember the ad and the product – the same can be applied here.
Apart from reading the book, my suggestion is to go out and really take the time to learn your market. It is essential to know your market backwards and forwards before going into any deal. Without having the knowledge of the market, it will be very difficult to recognize opportunities.
I’ve said this before – this business is not for everyone. Not everyone who has read Lonnie’s materials have pursued “Lonnie” deals – it is a matter of personality.
(Note: In this post, I talk about a fellow investor who tried Lonnie’s system and didn’t like it. Again, it is a matter of personality – everyone has a different path).
Then, if you enjoy the concept of “Lonnie” deals then and only then would I recommend his other materials. If not, you’ve saved yourself some money.
I’m going to end this review by saying this business (like any other business) takes work – hard work. I’ve said this before in this post – it took me 6 months to learn my market and another 2 months to do my first deal. Success does not happen overnight.
p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!
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Interested in learning more about mobile home investing? Be sure to check out my book, thanks for reading!