Re: A skeptic on board… get rich yea right!! - Posted by Berno
Posted by Berno on April 09, 2007 at 13:31:15:
Boy, you aren’t shy about asking questions!
It’s hard to just take someone’s net income and use it to determine if they are ‘well off’. Different regions cost more to live than others and people have lifestyles and spending habits that vary greatly. Deductions and other things can cause the net number to look small, even though business is doing very well.
-Berno
Re: A skeptic on board… get rich yea right!! - Posted by Michael(KCMO)
Posted by Michael(KCMO) on April 09, 2007 at 13:01:42:
I have only been full-time since Feb 19, 2007. I did it part-time while working another full-time job for about 3 1/2 years before that.
I never have my taxes in on time so I don’t know what they say specifically at the moment. I can almost guarantee, though, that on paper my net income is close to nothing. I pull out just enough to pay bills and roll all else back into the business. Volume and monthly gross are my measuring sticks for progress, not net taxable income. Think of it as a snowball - the higher the monthly net, the more I can increase volume . . . which in turn increases monthly gross, which will allow an increase in volume . . . etc, etc.
At some point time will become the limiting factor. Before that point is reached I will have progressed to the next step of my plan. Lonnie-deals are a means to an end, not the end game themselves.
Regards,
Michael(KCMO)
LoL - Posted by Michael(KCMO)
Posted by Michael(KCMO) on April 09, 2007 at 09:54:20:
There you go. I couldn’t have said it any more succinctly. 
Re: Chime In - Posted by Berno
Posted by Berno on April 10, 2007 at 09:49:41:
True Gary. It’s amazing the amount of effort that someone will put into proving that something CAN’T be done.
-Berno (who is addicted to wasting time but doesn’t have the time to do it)
here’s the deal (biblical proportions) - Posted by Steve-WA
Posted by Steve-WA on April 10, 2007 at 12:05:15:
If Lonnie wanted to make money off of book sales as his prime motivator, then he wouldn’t sell 'em for a measly 30 bucks!
There are scores of people out there hawking books - that all have worth, mind you - but that is their prime motivator: to sell books. They are not investors, they are promoters.
Lonnie’s prime motivator is to help people. Help them fix their income for old age, help them make success on their own, help them fill their mailbox, whatever.
You should know that.
You brought this up regarding a recent conference on another site, and you p*ssed off everybody there too.
Don, there’s a parable in the Bible you need to read. I’m no Bible thumper, but this is one of those anecdotes that keeps coming back to me:
There is "a man that is an householder, which went out early in the morning to hire labourers into his vineyard. And when he had agreed with the labourers for a penny a day, he sent them into his vineyard.
"And he went out about the third hour, and saw others standing idle in the market place, And said unto them; Go ye also into the vineyard, and whatsoever is right I will give you. And they went their way.
"Again he went out about the sixth hour and ninth hour, and did likewise. And about the eleventh hour he went out, and found others standing idle, and saith unto them, Why stand ye here all the day idle? They say unto him, Because no man hath hired us. He saith unto them, Go ye also into the vineyard; and whatsoever is right, that shall ye receive.
“So when the even was come, the lord of the vineyard saith unto his steward, Call the labourers, and give them their hire, beginning from the last unto the first. And when they came that were hired about the eleventh hour, they received every man a penny. But when the first came, they supposed that they should have received more; and they likewise received every man a penny. And when they had received it, they murmured against the goodman of the house, Saying, These last have wrought but one hour, and thou hast made them equal unto us, which have borne the burden and heat of the day. But he answered one of them, and said, friend, I do thee no wrong: didst not thou agree with me for a penny? Take that thine is, and go thy way: I will give unto this last, even as unto thee. Is it not lawful for me to do what I will with mine own? Is thine eye evil, because I am good? So the last shall be first, and the first last: for many be called, but few chosen” (Mt. 20:1-16)."
As I read it, one should be satisfied with the compensation to which they have received, and not be envious of that compensation others have received. You choose your lot in life - if you begrudge what someone else has, and wish it for your own, then make changes.
To me, this is a variation of Aesop’s fable of the Fox and the Grapes: Fox couldn’t reach the grapes high on the vine, so as he walks away, he says, ah, they were probably sour anyway.
My message to you, Don(Tn), is: if you have issue with people who make a living offering educational resources, then before you call your motives into question, take a look inside yourself, and ask yourself why you are feeling this way about someone else. The only person you have control over is YOU.
Don’t like what you got? Make changes. You may find that you have a book in you, too!
Frankly, the MH investing community doesn’t want to hear (read) you questioning the agendas of people who are true investors, not book-hawkers, who feel an obligation, a desire, to share their experience. I would not be the man I am today without Lonnie making $30 off of me - I owe him a hell of a lot more than that.
i don’t want to… - Posted by Adam (IN)
Posted by Adam (IN) on April 09, 2007 at 23:34:14:
get in too far as im quite sure Lonnie is able to defend himself (if he even feels it’s nessicary) just wanted to let you know my personal feelings about Lonnie from seeing him at seminars and also wanted to comment about how unbelievably affordable his book is especially considering it is the guiding light for almost ever single person here in the business thats all…
Re: A skeptic - You missed a key point! - Posted by Cody
Posted by Cody on April 09, 2007 at 21:52:56:
Ryan
Thank you for taking time to respond to my
orginal post.
First I never said this buying and selling mh on
contract would not work, just you will not get
rich doing this (quick or slow).
Second On the third year you would have 54
mobile homes under contract, it is my belief
with that many units you would be busy all the
time (24/7 ) dealing with all the problems, such
as move outs, damages to the mhs, no pay,
collections etc. (If you hire a manager to help
you with your 54 units, your net income just
dropped 25K per year)
Third Every other post says that this is a stepping
stone to other investments, which goes to prove
my point that this strategy is lacking or you
would not be looking at other investments.
Fourth Having a goal of zero net income for low
taxes, I prefer high income and high taxes.
Cody
Re: LoL - Posted by Berno
Posted by Berno on April 09, 2007 at 12:14:13:
AH-HA! I finally got Michael to say something nice about one of my posts, even though I had to pose as a lovable furry blue monster. My work here is done.
-Berno (who often finds himself playing with stuffed mice and can do about 2 dozen different voices)
Re: Chime In - Posted by Gary
Posted by Gary on April 10, 2007 at 16:24:46:
Berno,is there any residential new construction in your area in driving distance? If so find a lot in a halfway decent location,maybe an old house burned there or it still has a tear down on it. Do a double wide with permanent foundation,add a garage,etc. It will appraise well and you can either rent or sell. You can usually create $20-30,000 equity each on these. And this is with a new unit which means NO rehab. How about more time to spend with your daughter? Gary
Re: here’s the deal (biblical proportions) - Posted by Don(Tn)
Posted by Don(Tn) on April 10, 2007 at 22:40:24:
Steve,
Please allow me to clear up some confusion that you and some others may have reguarding my posts. First let me say that in no way do I disrespect Lonnie or believe that he is less than an honorable and generous man. I am just pointing out his genius in writing DOW and his other books. I have no idea of how many copies of DOW he has sold but I do know that every single visitor to this site is strongly encouraged to buy DOW. And for good reason. It is a wellspring of wisdom at a very affordable price! It is the same with Tony with his books and bootcamp. Excellent materials at very reasonable prices. You and others just don’t get it. I admire these men! They are not only proffiting from the trailers but the educational services. They have hit a double when most of us here are struggling to hit a single. This website is all about being creative and allowing yourself to see things that others cannot. I cannot help it if I try to think beyond just posting GOTC, read the archives and read DOW.
I am really puzzled as to why so many people have such a knee jerk reaction in response to any comment reguarding proffiting from books or seminars. Do most people deep down believe that all informational authors are con artists? Why is the topic so taboo. These folks are doing a tremendous service for us sharing their knowledge which allows us to enrichen ourselves. They deserve to make a handsome profit from their efforts. For some reason it is acceptable to brag about tripling your money on a mobile home deal, but disgusting to make a dime on a book.
There are some very insightful, intelligent people who post on this board that have at least one good book in them. Now if they were to write one I am sure that some would believe that they should just give the books away as a public service. I on the other hand would encourage them to price them at a fair price and sell a million of them! If any of you biblical scholars can see anything sinful or immoral about that please let me know.
Don
Re: here’s the deal (biblical proportions) - Posted by Don(Tn)
Posted by Don(Tn) on April 10, 2007 at 22:37:27:
Steve,
Please allow me to clear up some confusion that you and some others may have reguarding my posts. First let me say that in no way do I disrespect Lonnie or believe that he is less than an honorable and generous man. I am just pointing out his genius in writing DOW and his other books. I have no idea of how many copies of DOW he has sold but I do know that every single visitor to this site is strongly encouraged to buy DOW. And for good reason. It is a wellspring of wisdom at a very affordable price! It is the same with Tony with his books and bootcamp. Excellent materials at very reasonable prices. You and others just don’t get it. I admire these men! They are not only proffiting from the trailers but the educational services. They have hit a double when most of us have are struggling to hit a single. This website is all about being creative and allowing yourself to see things that others cannot. I cannot help it if I try to think beyond just posting GOTC, read the archives and read DOW.
I am really puzzled as to why so many people have such a knee jerk reaction in response to any comment reguarding proffiting from books or seminars. Do most people deep down believe that all informational authors are con artists? Why is the topic so taboo. These folks are doing a tremendous service for us sharing their knowledge which allows us to enrichen ourselves. They deserve to make a handsome profit from their efforts. For some reason it is acceptable to brag about tripling your money on a mobile home deal, but disgusting to make a dime on a book.
There are some very insightful, intelligent people who post on this board that have at least one good book in them. Now if they were to write one I am sure that some would believe that they should just give the books away as a public service. I on the other hand would encourage them to price them at a fair price and sell a million of them! If any of you biblical scholars can see anything sinful or immoral about that please let me know.
Don
Re: A skeptic - You missed a key point! - Posted by Nate-WI
Posted by Nate-WI on April 12, 2007 at 18:39:07:
Cody…your an ass.
Re: A skeptic - You missed a key point! - Posted by Eric (MI)
Posted by Eric (MI) on April 10, 2007 at 21:28:36:
There are ways to greatly reduce your taxes by lowering your income (on paper) and to do so legally.
First, I disagree that you can’t become filthy wealthy doing nothing but investing in MHs but diversification is a good thing.
Re: A skeptic - You missed a key point! - Posted by Michael(KCMO)
Posted by Michael(KCMO) on April 09, 2007 at 22:03:02:
Sounds like mobile homes aren’t for you.
Glad we could help.