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Lonnie Scruggs was just another landlord when he decided he was finished with taking care of rental properties and chasing down deadbeat tenants, so he sold all of his rental properties and carried back the mortgages so he’d still be receiving monthly payments.
He then started buying additional privately held mortgages but concluded they were too hard to find. “I stumbled into the mobile home business.” Scruggs says. This pioneer says he followed a simple principle of finding a good product that was in demand, buying that product, improving it, and selling it while retaining the financing.
After buying a few used mobile homes, fixing them up, selling them for more than he had paid, and retaining the notes on those mobile homes, Scruggs was so amazed with the simplicity of the formula that he decided to share it with others. He wrote Deals on Wheels, a book that has transformed the profitability of many people’s investments. He is now a highly sought after speaker and is ready to share his knowledge at any time. “I’ll take people and get them started. I think if you work with people, you get a lot more satisfaction then if you try to be greedy and keep everything to yourself.”
Cash Flow Pioneer Lonnie Scruggs discovered the value in the mobile home market, devised methods to make it a highly profitable source of continuing income, and unselfishly continues to share all that he has practiced with appreciative readers and listeners.
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