Terminology Tuesday - Jack Miller

(Note: I think it's important to know the terminology and words used when learning any new business including mobile home investing. I came up with 'Terminology Tuesday' as a way to go over the terminology used in the mobile home business. It's important to know the terminology when talking to people in the business so you're all on the same page).



For this week's Terminology Tuesday post, I'd like to honor a great man, educator and real estate investor - Jack Miller.

Since his passing which was recent (months ago), his continuing legacy and education continues through his students and his materials. He was truly a great man and contributed so much to the real estate investing world.

As for mobile homes, it became one of his niche specialties. Apart from Lonnie deals, he also specialized in mobile homes with land as well as parks. I have read his material on mobile home investing - it is excellent.

To honor Jack Miller, here is an interview clip with him as he talks about his experience in the mobile home investing world:



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!

Terminology Tuesday - What Is a "Lonnie Deal"?

(Note: I think it's important to know the terminology and words used when learning any new business including mobile home investing. I came up with 'Terminology Tuesday' as a way to go over the terminology used in the mobile home business. It's important to know the terminology when talking to people in the business so you're all on the same page).

"A 'Lonnie Deal' is basically one that I can buy for $2,000-$3,000 and then sell it for $5,000-$6,000."

- Lonnie Scruggs

Check out this audio where Lonnie Scruggs outlines what a "Lonnie Deal" is: (at 7:31)



In a nutshell, the concept of "Lonnie Deals" can work with anything - not just mobile homes. And, the key is offering the product with easy terms and offering owner financing.

If you're interested in learning more about mobile home investing, I highly recommend reading Lonnie's book.

Happy investing!