The best thing you could do is get another job and save your $1,000 for emergencies.
After you have a steady income invest $30 in Lonnie’s book, Deals On Wheels. Then rethink your old plan and formulate a new, more rational one and come back to this board for an evaluation of your new plan. Or simply follow Lonnie’s plan to success as thousands of others have done.
You don’t have one chance in a million of getting to where you want to go, while headed in your present direction.
Sorry that I couldn’t be more encouraging but I’ve called it the way I see it.
We CAN help you get a good start toward success if you are willing to accept help from those who have proceeded you along this same path. If not, we can’t.
Its your life, its your future, and its your decision.
Posted by showmethemoney on October 10, 2003 at 22:59:36:
I lost my job and am now unemployed. I want to work for myself investing in real estate. I want to start with mobile homes. I need to learn the basics.
What would the down pmt be on a $10,000 mobile home? I have $1000 to start with. I would like to buy one and rent it out. What would the monthly note likely be? Would I need collateral, or what could I expect a bank or loan company to ask me?
How old are you? What type of work do you do? What are your job prospects? What can you cut out of living expenses to live on less? Are you willing to go through 3 or 4 lean years before this becomes full time? Have you ever dealt with any kind of real estate or similar pursuits? What is your marital status?
Philip
Posted by Phil Pelletier on October 11, 2003 at 24:30:47:
But Doc is absolutely correct. Before you step one foot into a mobile park, you really need to invest the cash in the book “Deals on Wheels” (on this website). This business is all about personal motivation, and how to help the seller get away from personal property they no longer need. It also includes a dash of understanding how to help people solve a very specific and unique problem in their lives:
How do they get rid of a liability that is too big to move, located on someone elses land, that they can’t use, but must continue to pay rent on until we come along to provide an exit strategy?
That is the riddle of the SELLER’S dilema.
The mobile home BUYER faces another specific and unique problem:
How do they find a decent place to live, with a little yard, their own parking place in a quiet family community, cheaper than renting some crappy little apartment, when no bank will finance their purchase?
When you are intimately aquainted with the answers to both those riddles, you can begin to invest in mobile homes. Until then, nobody plucks our pidgeons but US!