get rich quick - Posted by dave

Real Estate Investing Mobile Homes & Mobile Home Parks
#1

Posted by dave on April 16, 2007 at 23:39:39:

He is right park managers are great lead sources. The parks I have driven thru on occassion also the empty mobile homes sometimes have the lenders number on them.
Those lenders may have many non performing notes in various parks. I would never attempt to do business in a park without first establishing a relationship with a manager! You would be amazed what you get if you bring him or her a banana creme pie or a tray of brownies. Get the expensive ones its worth the extra 5 bucks lol.
Companies like Greentree financial. I wish you luck!
Finding deals isnt hard if you begin to make the relationships and help the managers!I always tell em I will help em reduce there vacancy ratio. That always gets there attention!

#2

get rich quick - Posted by dave

Posted by dave on April 09, 2007 at 02:29:50:

Dear Cody my father has a Phd and I after 14 years of investing in realestate have moved beyond his net worth x 2.
Cody I put in 15 years and my father put in 40 years. Lets do the math shall we. My passive income causes me to work about 25 hours a week and nets between 90 and 130k a year. My father worked 40 hours a week all his life. Hmm do we go Codies route and work full time? I think Ill stick to being an entreprenuer. My father invested 20% of his earned income for 40 years and still my net worth is double his in 1/3 the time.
Cody you can get rich working a job too if you save like a dog. Thats what my father did. Ill take the risk of being an entrepreuer any day of the week. The freedom cannot be compared! Cody I have friends punching a clock with MBA’s they are all jealous of my freedom! I generally take 4 to 6 vacations a year and never ask a boss man can I go. I route my call to secretarial services and then leave. Get rich with mobile homes? I dont know since I never met a realestate investor that only did one kind of real estate.
I do a variety of things in realestate. Cody at 70k a year income doing strictly mobile homes I suspect it is what a middle manager makes with an MBA. Except the MBA cost 50k and 4 years lost income. I wonder who does the numbers on the backend. Lets compare the net worth of a guy that owns 500 unit mobile home park to a middle level manager at the end of 40 years. One guy has a 3.5 million dollar asset paid for and the other guy has a pension + a 401k and probably changed jobs at least 7 times causing him to burn thru 401k retirement plans or lost equity in homes due to selling them at firesale price when he was transfered. lol Get real forget about working a job lol. When you get jerked around after 10 years of working that job then come back and brag about your MBA and how much fun it is to work for the man.
PS: by then I will own enough realstate I will have an MBA working running my empire while I take 3 weeks to relax in Barcelona. Cody not sure where you are comming from but out of my circle of educated friends only my attorney friend brags better income. I suspect at 300 per hour its not easy to keep up with him. I will say this our net worths are similiar.

#3

Re: get rich quick - Posted by rachel

Posted by rachel on April 10, 2007 at 18:05:33:

Hi Dave,

Read your post. Been in the mobile home biz for the past 2 months.
From your experience, what has been the best source of leads for you?

Thanks for your help!

-Rachel

#4

Re: get rich quick - Posted by Cody

Posted by Cody on April 09, 2007 at 12:35:54:

Dave,

Thank you for your post. You say you earn
90K to 130K per month passive income, how many
mobile homes do you have under contract?

I feel there is a good income doing the mobile
home thing, just not getting rich. Even
$130K per year is only about 11K per month income.

Cody

Cody

#5

Re: get rich quick - Posted by Lyal

Posted by Lyal on April 11, 2007 at 07:19:27:

Rachel,
Not Dave but… as your business grows and word gets around, park managers will by far be your best source of deals. They’ll have a problem with someone getting evicted or moving out in the middle of the night (read lot not producing rent) you are the solution to that problem.

You’d think they’d “get it” and get into the biz themselves, but few of them will.
Lyal

#6

Re: get rich quick - Posted by rachel

Posted by rachel on April 13, 2007 at 09:46:59:

Thanks, Lyal. I appreciate your help. Got my signs in the parks I want to
work with. Now, I’m starting a direct mail campaign in those parks.
Hopefully, it’ll bring in some leads!

-Rachel