Posted by Kris Lieb on June 08, 2006 at 20:38:23:
Wow, do you sound like me!! Best of luck to you too, thanks!!
Still on the fence? Hope this helps! - Posted by Kris Lieb
Posted by Kris Lieb on June 04, 2006 at 06:21:03:
Well, its been 4 years since I bought by first of 3 sets of Lonnie’s books. (Yes, I sold them on ebay 2 times and re-purchased… ) Paralysis of Analysis. Don’t laugh at me too hard! 
The good news is I finally did it! I made my first Lonnie deal on Friday. The seller was asking $3800. I offered $2000. She came back at $3,600. (Wow, that must have taken a lot of though, huh???) I said no thanks.
Well, well, well. Then end of the month rolled around and lot rent was due again. She asked for $2300, I said yes on Tuesday and took title on Friday.
1974 (yes, old, but the park is about 50% of these 70’s ones) in GREAT shape. New windows, updated electric, roof, HW heater, everything. Very few minor, basically cosmetic things need done. I will put in new vinal flooring in the kitchen, a new tub surround in one bathroom, cut down the way-overgrown bushes and paint the kitchen and bath. I purchased everything I need yesterday and it was just under $200. I also took the plastic “siding” they had around the porch off and opened it right up. Thats it!
After I make my minor updates, it going on the market by next Friday a fair-market price of $6,000. What’s my yield? Good 'nuff!!
Don’t wait like I did!!! Just find one you’re comfortable with and do it. I figured if all went to heck in a handbasket, I’d just “give” it away for what I have in it and go.
Good Luck, and I’ll keep you updated on it. Kris
Re: Still on the fence? Hope this helps! - Posted by Jordan (MI)
Posted by Jordan (MI) on June 06, 2006 at 09:38:24:
Be careful picking your buyer. Find a good one and you’re home free! Find a bad one, and you’ll be making those repairs again.
Also, make sure the park manager is on your side!
Congrats!
-Jordan
Re: Still on the fence? Hope this helps! - Posted by John
Posted by John on June 05, 2006 at 18:42:17:
Are you selling this on terms, cash only, or on a lease option?
I am overcoming Paralysis of Analysis Too - Posted by MB(Ga)
Posted by MB(Ga) on June 05, 2006 at 12:02:26:
I just wanted to say congrats on your first deal. I’ve been in real estate “mentally” for about four years. I use to read my mom’s old Carlton Sheets courses when I as in middle school - over a decade ago.
I’m waiting for my Lonnie complete set to come in. I did a “drive - by” yesterday and heading out to another one on today. I got several numbers that I will call out on tomorrow.
Good luck on your future deals
Re: Still on the fence? Hope this helps! - Posted by Talia FL
Posted by Talia FL on June 05, 2006 at 07:05:58:
Still trying to find that first deal…thanks for the encouraging post and let us know when it sells!!!
Re: Still on the fence? Hope this helps! - Posted by Ruben (KCKS)
Posted by Ruben (KCKS) on June 04, 2006 at 13:05:46:
Kris,
Great job on Getting Off The Couch. Let us know how it turns out.
Ruben D. Flores
Re: Still on the fence? Hope this helps! - Posted by Kris Lieb
Posted by Kris Lieb on June 08, 2006 at 20:37:19:
I’ll look to sell on terms and hold the note, but, heck, a good cash offer would be looked at too! 
I don’t want to do a lease option as I don’t want to play landlord ever ever ever again.