Posted by Ruben (KCKS) on May 23, 2007 at 17:04:24:
If you buy for the right price any deal is a winner. The problem knowing what the right price is for your area and what you can do with the lot. Will the city or county allow a home to be put in? What costs are associated for putting a home in? What will it rent for or what can you sell it for? If you sell it what lenders in your area will finance the deal?
I will let you know that I have not done a Land Home deal yet. I have looked at a couple and even had one under contract but if fell out during the due diligence process. I have done Lonnie Deals for almost 2 years now and have spent a pretty penny on my education during that time period attending different events. I would suggest that you:
1 Read all three of Lonnies books at least twice (The information he provides is priceless)
2 Read, listen to and watch Tony and Scotts Materials on Land Homes and Small Parks (Once again a very good deal for the information you get and the DVD is cool to watch).
3 Do a couple of Lonnie deals.
4 Continue posting and reading posts here on CRE.
No matter what you do good luck.
Ruben D. Flores