Jackpot!!!!!!! - Posted by Ben_Seattle

Posted by Phil Pelletier on June 30, 2003 at 17:44:04:

Yea, go for the beef, not the skin! The cashflow from the coaches (the homes) is Nothing compared to the instant equity you get from placing people in the homes, creating a rent roll that is documentable, and refinancing the cash out to an investor who is looking to make a decent return on his cash, backing his investment with Real Estate. You should try to buy the PARK for a song and have him finance it through maybe a lease option. If you can rehab that park inside of 12 months, you could make a MONSTER return on your efforts. Each home site that has a $400/month documented, 12 month rent roll can add between $25,000 and $35,000 in equity to the property, NOT counting the payment on the home (That’s just gravy). Lock that place up for 12 months and see if you can rehab it for yourself, then flip it to an investor for two or three times what you paid for it.

Phil Pelletier

Jackpot!!! - Posted by Ben_Seattle

Posted by Ben_Seattle on June 27, 2003 at 14:53:23:

Well I have been talking about doing Lonnie deals and real estate in general for a LONG TIME now and I have finally got enough reasons now to motivate me enough to start. So check this out, I think my partner and I have have come across a gold mine. We found a parkin Everett,Wa that needs our help. The park has approx. 5 empty homes and 7 or 8 empty lots. So we asked around and found out that the park is owned by an old man. So we called him and he said he would love for us to work in his park. He even told us lot rent ($400) was negotiable. He said they have had a hard time filling these because of the low interest rates and everyone is buying houses instead. I find this hard to believe because even thought the rates are low doesn’t mean these people go from buying mobiles to buyinghomes. He said a few others have tried to come in a fix these trailers up but just messed them up or couldn’t sell them. We all know what’s missing is the financing. Oh did I also mention the park doesn’t even have a sign in front of it. Thats one of the firwst items on my to-do list. Well enough rambling about this and be ready for a few questions from me.

Happy Hunting, Ben_Seattle

Re: Jackpot!!! - Posted by JIm_schad

Posted by JIm_schad on June 30, 2003 at 10:03:15:

See if he will sell you the park for a song since it is such a bad investment.