BiggerPockets Real Estate Podcast

596: The 3 Ways to Find Profitable Properties that Big Investors Won’t Touch w/Amanda Cruise

Apr 14, 2022
In this discussion, Amanda Cruise, a savvy real estate investor specializing in mobile home parks, shares her journey from navigating single-family rentals to thriving in the mobile home space. She reveals her unique approach called 'Lonnie Deals' for seller financing and highlights the ease of title transfers in mobile homes. Amanda also provides valuable strategies for finding motivated sellers and competing against larger investors, proving that smaller investments can yield significant profits without the usual headaches.
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ANECDOTE

From Single-Family to Lonnie Deals

  • Amanda Cruise disliked managing contractors and tenants in single-family rentals.
  • She transitioned to "Lonnie Deals," seller-financing mobile homes, finding it more lucrative and passive.
ADVICE

Lonnie Deal Strategy

  • Buy mobile homes from motivated sellers and offer seller financing to buyers.
  • This "Lonnie Deal" strategy allows you to act as the bank, earning high returns with minimal effort.
ADVICE

Transferring Mobile Home Ownership

  • When selling a mobile home, transfer ownership through the DMV like a car.
  • This is easier than traditional real estate transactions, involving only a notary and DMV registration.
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