My first rental! - Posted by Briton (IN)

Posted by Briton (IN) on September 05, 2003 at 11:08:42:


My first rental! - Posted by Briton (IN)

Posted by Briton (IN) on September 04, 2003 at 15:32:40:

i rented my first MH today. I paid 8500 for this home including set up in my park. The lady is renting it for $400 a month including lot rent. It will take about 2 years before i get my investment back. Does anyone ever rent these thing just to pay them off, THEN lonnie deal them? This will be very interesting to see how my first rental ends up! Briton (IN)

Re: My first rental! - Posted by Doug (Alabama)

Posted by Doug (Alabama) on September 05, 2003 at 20:21:41:

Nice job. I have just bought my fifth mh. The first 2 I Lonnie’d them. These last 3 I am renting. I will get my money back in the same time frame I would have in a Lonnie deal but the income stream will keep coming in. I am loving it. I have had the 12:30 in morning call about water leaks but that is ok. I fix it and keep on going. Part of the cost of doing business. I am carefull who I rent to but always try to rent to people who need help. They are always gratefull and are taking great care of the MH. BTW, I don’t allow smoking in the trailers either. Thought that would be a deal killer but everyone is going along with it no problem.
Good luck and good job,

YES!!! - Posted by ScottS(NC)

Posted by ScottS(NC) on September 05, 2003 at 07:35:59:


Congrats on getting your mind out of the box mold of only Lonnie deals. For a long time now I have been asking people to show me why renting a mobile is so bad. Yet folks on all the other boards rent appartments,houses,condo’s ect. I started renting about 4 years ago and I love it. I have the same problems with my lonnie deals as I do my rentals. I suggest you read some of Jeffrey Taylors material( he has some really great stuff on renting. Way to go Briton if you manage your tenants correctly the income stream from these rentals will speed up your ability to purchase more, thus getting you where you want to be faster. My favorite saying is, If you do for five years what others won’t, you can spend the rest of your life doing what they can’t! Take Care ScottS(NC)

Hey! I wanted to be first! no fair! nt - Posted by Philip

Posted by Philip on September 04, 2003 at 16:28:29: