Pairing with Partners Pays Off - Posted by Tobe (Idaho)

Posted by Ernest Tew on June 05, 2000 at 06:45:29:

Congratulations Tobe! It just goes to show that preparation pays off. It’s a lesson most people in the business should take more seriously.

Pairing with Partners Pays Off - Posted by Tobe (Idaho)

Posted by Tobe (Idaho) on June 04, 2000 at 22:25:08:

About six months ago I went to mortgage broker to apply for a loan to do fixer-uppers. The guy I spoke with was impressed with what I wanted to do and the knowledge I spoke with. I was only 22 at the time and he wondered how I and why I knew so much about real estate. Anyway, before I left he offered me a job which I accepted. I saw this as an excellent opportunity to get my foot in the door and put together some deals.

As we worked together he often told me that his dad was a wealthy individual who wanted to start investing in things other than stock. By that time I had already ordered and read “Deals on Wheels” and “Making Money w/ Mobile Homes”. In one of my college marketing classes we had to write up a marketing plan for a business we would like to start. I chose real estate investing and used the buying, selling, and financing of used mobile homes as a basis for my paper. Since I already had a marketing plan (I made an A!) I gave it to my boss to read over and share with his dad. They were extremely impressed and offered to put up the money if I did all the work.

I was pumped! We started a corporation, of which I own a third. They paid for everything to get started. Liscensing, bond, insurance, etc. (over $1,000). I have not paid one penny of my money so far. Last week we met with one the biggest park owners in the area. He probably owns 10-15 parks here and has over 140 to sell. The trailers came with the parks and he is trying to dispose of them all. His loss has become our gain. We recently bought 6 mobile homes to “get our feet wet”. We paid $21,500 for the six which comes out to be about $3,500 per trailer. They should retail for $9,000 to $10,000 apiece.

How’s that for not putting any money into it? I’ll be making $430 a month for the next three years for about 3 hours work. Soon we’ll have over 100 and then I’ll really be in the money! We are now also considering commercial property, fixer-uppers, and duplexes/triplexes. I love this business!!


Sounds like a good deal…Congrats(nt) - Posted by Dirk Roach

Posted by Dirk Roach on June 05, 2000 at 13:45:57:


Re: Pairing with Partners Pays Off - Posted by Lonnie

Posted by Lonnie on June 05, 2000 at 07:28:17:

Hi Tobe,

Fantastic! What an inspirational story. It’s just what we all need to start out a new week. It’s always so refreshing to see someone (especially someone so young) to take the initiative and make positive things happen. I predict a great future for you.

Best wishes,


Congratulations Tobe!!!(NT) - Posted by Joe Bradley

Posted by Joe Bradley on June 05, 2000 at 24:09:27: