Lonnie deals - to rehab or not?


#1

I’m about to start investing in mobile homes, as per Lonnie Scruggs. I know that Lonnie doesn’t do much rehabbing. Is rehabbing necessary in order to find buyers? What type of rehabbing adds the most value?


#2

and the answer is very subjective. Customers will almost NEVER buy homes with roof or floor issues…these have to be repaired.

In my market in sequence:

Paint (and hole patching)

Carpet

Cabinets (expensive)

Most important and cheapest? a good cleaning with a pine scent cleaner.

Have overseen over 200 rehabs and key? Know when to say when.

I wish I had the money I spent early on on overdoing rehabs…probably the biggest mistake made in this biz.

Lonnie laid out a great “blueprint” for success in this business, try to model your first few on his proven model.

Just my 2 cents,

Greg