Go for it Jen! (long) - Posted by patsears
Posted by patsears on May 28, 2006 at 13:02:46:
Last August, I split my $50,000 401k in half, putting $25k in an Equity Trust Co. self-directed 401k for mobile home investing, and keeping the other $25k in my 9-5 job’s plan (my wife’s requirement!)
Since then, I have done 14 deals (some in my tax-free 401k account, some in my taxable S corp mobile home business account), and have increased my 401k’s value to ~$50,000. I did this while also having a new baby boy, and moving into a new home 2 hours away from all the parks I worked so hard to get into.
In the next 3 months, I fully expect to add another $25k to my 401k as I tie up some loose ends, for a 200% net return in my 401k. This also does not take into consideration the 3 FREE HOMES I’m getting from one of the new parks I’m going to be working in (it’s amazing what a box of truffles will do to a park manager’s attitude), and the 2 acre lot that I bought in January that fronts the main highway in an exploding area that has probably gone up in value $10-$20k just since then.
Jen, I’m the king of impatience, so I know where you’re coming from. Just do your first deal, and you’ll begin to see the possiblities. Keep studying anything related to mobile home investing, or for that matter real estate investing in general, as well as business books on deal-making (Donald Trump’s books would be a great place to start). I also like to listen to audio books while I’m driving to and from work. Right now I’m listening to Jack Welch’s book, WINNING.
Give it a try Jen, 'cause nothing ventured, nothing gained…
p.s. The other half of my 401k that is still invested in my companies’ mutual fund, is up around 5% for the year. Yahoo!