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Mobile Home Wealth: How to Make Money Buying, Selling and Renting Mobile Homes Paperback – November 15, 2007
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About the Author
Zalman Velvel has been a fulltime real estate investor since 1981. His family owns and operates five mobile home parks, as well as warehouses, offices, duplexes, mini-warehouses, and motels. Zalman holds the coveted CCIM designation, as well as being licensed as a real estate broker, mortgage broker, auctioneer, mobile home dealer, and former real estate appraiser. Zalman is also licensed as a real estate trainer, and has trained more than 5,000 people in real estate investing.
More About the Author
You're looking at a man who loves writing, and being read by you. I'm going to make you laugh, and reach out and touch your heart, also. We're going to get closer, you and me, and you'll come to know me as your "Uncle Zally."
In one of my pictures, I'm holding a blue covered book on investing, called "Mobile Home Wealth." This book will show you how to become wealthy investing in mobile homes. There are two other companion books to this on Amazon.
In my other picture, I'm holding a white covered book of short stories, called "King of Shabbos." This book contains 18 inspirational, and even funny, stories. There are eight other books of my short stories now on Amazon, 3 novellas, and one full length novel, with more being published all the time.
I have been writing for 30 years, saving 200 short stories, 3 novels, and 12 stage plays, for the time when publishing would be easier ... and now that time is here! God bless electronic format and the Kindle.
And God bless you, also.
Top Customer Reviews
As you can tell, I can't say enough about how awesome this book is
This is not a light read, but it is easy to follow and it lays out one of the clearest and most complete paths to investing I've seen anywhere. I read it quickly, but will also use it as a reference as I begin investing in mobile homes. If you plan to invest in mobile homes, any one of about fifty tips in this book is going to save you way more than the book's cost. I wish there was a book like this for every real estate investing sector.
I've read a lot of books on investing and this one gives some ideas I haven't heard of before.
The only problem I have is with the Lease Option chapter. As with many investors, they recommend giving a rent credit for each month of payment by the tenant/buyer. Check with a local attorney but this can lead to equitable interest in the property, meaning that you would have to foreclose on the tenant instead of just evicting them.
- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
In one section of the book, the author recommends going to the president of the bank, talking to his/her secretary and finding out who the VP of lending is. So you will have an "in", when you sit down with the lender and say "the president's secretary sent me to you." That may very well work, but crosses ethical boundaries that I'm not comfortable with.
In addition to that, the author suggests seller financing for purchasing property with no money down. One method is for the seller to give you a second mortgage for the down payment, which you use to secure the mortgage from the bank. So the seller provides the 20% down payment mortgage while the bank provides the 80%. If you search around for "silent second mortgage", you will see that this is a common type of mortgage fraud. You are misrepresenting your finances to the bank! The bank thinks you put down your own money, when it was actually borrowed.
There are also recommendations for 100% seller financing, to avoid down payment. Ask yourself this one simple question: if a professional bank requires 20% down to offset risk, why wouldn't the seller want such a thing? The only answer I can come up with, is that you are taking advantage of an unsophisticated investor. The seller doesn't know the real risks involved.
I would see a lawyer before touching any advice this book gives.
Most Recent Customer Reviews
I liked this book, because it gives you great method to buy, rent and sell mobile homes. I love the book.Published 14 days ago by humberto
great book, worth reading. I do wonder if it is a little outdated with some of the new rules in FloridaPublished 29 days ago by Amazon Customer
Salmon is great and sharp as a tack on the ins and outs of investing in Manufactured housing.Published 3 months ago by Amazon Customer
This has to be one of the most detailed game plans for MH investing, Mr Velvel leaves no stone unturned, it is excellent!Published 4 months ago by Imelda
WOW ! Finally a real estate book that brings you in and shows you the inside. Zalman wrote an excellent book and tells you step by step how he did it, what he did, and how you can... Read morePublished 10 months ago by Nick W
there is nothing new in this book.... work hard, watch what you spend on the investment so you get a profit. Read morePublished 11 months ago by Michigan Dan