How many deals have you done? - Posted by Dewey

Real Estate Investing Mobile Homes & Mobile Home Parks
#1

Posted by Dewey on February 21, 2001 at 22:30:05:

I financed the deals myself. I don’t wait until my initial investment comes back. I am now at the point where I could do one deal per month with the income generated from the first five.

But I do have two people on the line who will invest in these homes with me. So far, I haven’t used them, but the time is quickly approaching. If I run out of money or need money for some reason, I can sell them the notes, and continue on with my investing.

How is your investing going?

Good Luck.

#2

How many deals have you done? - Posted by Dewey

Posted by Dewey on February 21, 2001 at 12:05:02:

I have often wondered about how other people are doing in this business. We occasionally get posts from somebody detailing their lastest deal, but rarely do we hear the overall story. (By the way, I do like to hear about other people’s success stories. So keep the stories coming!)

So I would like to ask you how many deals have you completed? How long have you been investing? Are you satisfied with these type deals? Or anything else you care to include. (I hope to hear from someone who has done 50 or 100 of these deals. I believe it will motivate me further.)

Personally, I have been doing Lonnie type deals since October of 2000. So far I have closed on five deals. I am in the process of closing on another within the next few days. (Hopefully) Overall, I am extremly pleased with the cash flow generated by Lonnie’s methods. My wife is even excited. She loves to get another check in the mail. lol

So how about it? Tell us about your overall experience with Lonnie type deals?

Thanks and good luck investing.

#3

Re: Question?? - Posted by Justin

Posted by Justin on February 21, 2001 at 14:41:43:

Have you financed those deals yourself or do you have some other creative way of financing them? If you use another way please enlighten me. If not, do you wait for your initial investment to come back before you do another deal?

#4

Re: Question?? - Posted by Tim (Atlanta)

Posted by Tim (Atlanta) on February 22, 2001 at 06:56:54:

There are several options listed in Lonnie’s books that are great ways to recover your initial investment:

  1. Sell the note to an investor. There are several note buyers across the country. Look for investors in your circle of friends and family.

  2. Sell a partial to an investor. Here again, there are several investors across the country looking for partials to buy. I know of several personally.

  3. Hypothecate the note with your local bank. Use the note as collateral for a loan that will recover your initial investment.

In order to do any one of these, you will have to give up some or all of the future cash flow. While this is great to get started, the real wealth building comes by holding these notes full term and realizing profits from both the sale of the home and the financing.

Tim