Thursday, June 3, 2010

Book Review: "Deals on Wheels"

"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.

Just like a house, Lonnie's book is the foundation of "Lonnie" deals and the system of creating passive income as a method to achieve financial freedom.

(Note: If you're interested in the concept of financial freedom, I did write an article here on why I've chosen "Lonnie" deals as my desired path to financial freedom).

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.

(Note: For those interested in some of the steps I took to learn the market, feel free to look at this post (see item #3).

Regarding some of Lonnie's other materials, I would say to first start out with "Deals on Wheels." See if you like it.

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.

Though, with passion and persistence success will come. As Lonnie says, "When you're really committed to something, you won't accept any excuses."

Happy investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!


Matt Rosen said...

Rachel,great book review! I love the quotes.

Mobile Home Gurl said...

Glad you enjoyed the book review Matt, thanks for stopping by!

Carey_PA said...


Great book to review for mobile home investing.

Guess which book helped give me my start with mobile homes? lol Yep you guessed it...the one you just reviewed!

I have both of Lonnie's first books (not sure if he has any others.) But they were both awesome and an excellent source of material.

Great job. This is a definite must read for anyone thinking about investing in mobile homes that's for sure.

Mobile Home Gurl said...

Thanks Carey, glad you enjoyed the review!

p.s. Lonnie's latest book is "Making Money With Mobile Homes." It's the same concept yet with more stories, good read as well!

Carey_PA said...

Yep just checked my bookshelf...I have "Making Money With Mobile Homes" too. Perhaps he updated it tho?

I'm going to have to refer to both since it's been a while and I'm going to check out a mh (lady couldn't show it to me on Sunday as her car broke down!)