Re: Investing in Mobile Homes with Land course - Posted by Jordan (MI)
Posted by Jordan (MI) on April 03, 2006 at 08:36:06:
In response to your question, is the land home course worth it, I’d have to say without a doubt, YES. YES YES YES.
But, I have to also add a disclamer to this, and that is, what kind of RE investor do you want to be? Seriously, what are you goals? You really need to think about this. All of the business knowledge in the world is worthless without action.
If you like most people, and you want no hassle investments, head on over to vanguard.com or some investment firm, and pick out a good mutual fund. Sure it’s going to give you very low returns, but how much effort did you put in to it? almost none.
Recently I was at a 401k presentation where the speaker told me that last year this particular fund did pretty good because they achieved a return of 6%. I had to control my laughter.
If you’ve read Lonnie’s books, and done a few deals, you’ve begun to realize that you don’t have to settle for a “good” return of 6%. You’ll realize that there’s some incredible returns to be made with a little bit of effort. Of course the down side is that Lonnie notes are short lived, and you must keep creating more of them.
In the three years during the typical Lonnie note the people can:
A) go through a financial melt down and you have to kick them out, and make another note with the same home, or…
B) they pay off the note, and then you have to make another note with a different home.
Also, with Lonnie deals, you have to have a good relationship with the park manager. This is key. Without it, they can ruin everything for you.
The land home package takes the park manager out of the picture all together. This has plenty of advantages, because this way there’s no one that has to approve your buyer. What’s to stop the park manager from letting your deal sit on the back burner for a month or two while you pay the rent?
The land home package can be rented, which creates an income stream which never stops. Your renter gets to pay down the mortgage for you, and while they are doing that, chances are that the home will appreciate, and can be leveraged for other deals.
So you really have to ask yourself, do you like this business? Do you want to become a ‘pro’ at it? Have you ever dreamed of freeing yourself from the rat race? Or watching someone else put money into your retirment account? What about buying a new car, and letting someone else make the payments? Would you like to leverage your RE investments into something larger like mobile home parks? What about apartment buildings or commercial real estate? It’s all possible, and this course will show you how.
It’s really about taking your mobile home business to a whole new level. First decide if mobile homes are for you, and then buy this course. After that the only thing holding you back will be you.