What should I do with my money? - Posted by Rob Maxwell

Posted by Michael(KCMO) on April 09, 2006 at 14:43:39:

Rob,

Sounds like you’ve got a good head on your shoulders and I’m sure you’ll do well no matter what you decide. Welcome to the board. I look forward to hearing of your progress and success.

Regards,
Michael(KCMO)

What should I do with my money? - Posted by Rob Maxwell

Posted by Rob Maxwell on April 08, 2006 at 18:44:51:

Hello all, I have been reading these posts and articles and am sure I want to invest my money into real estate, however i’m not sure which way to go. I have $400,000 and would like to invest it in a few different places as to maximize my risks. Dad always said not to put all my eggs into one basket, so any input would be much appreciated.

Thanks,
Rob

Re: What should I do with my money? - Posted by JPFL

Posted by JPFL on April 09, 2006 at 21:51:31:

LEARN HOW TO TRADE STOCKS AND OPTIONS YOU HAVE ENOUGH CAPITAL TO MAKE 200K ANNUALLY WITHOUT THE FUSS OF LD

Re: What should I do with my money? - Posted by Ryan (NC)

Posted by Ryan (NC) on April 09, 2006 at 09:42:00:

You must find a niche that you like and consider fun!

It may be Lonnie deals due to the fast paced nature and semi-lack of maintenance and repairs… It may be clear and free single wide land homes to reap appreciation on the land and good cash flow with minimum risk… It may be small parks to keep a cluster of units together… It might be a huge park leveraged to maximize your returns and the ability to hire out the grunt work… Then again you might simply hate dealing with MH’s as an investment vehicle and would be better off buying notes and partials at a lower yield from investors that do consider it fun.

I suggest that you try a couple of Lonnie deals in someone else?s park to see if you like MH investing and go from there. There is great money to made in MH’s but if your sanity is going to suffer there are multiple ways to skin a trailer as Marty puts it.

Best wishes,
Ryan Needler

Re: read these posts - Posted by Barry (GA)

Posted by Barry (GA) on April 09, 2006 at 08:33:24:

Good articles by Ron Starr-

http://www.creonline.com/wwwboard/messages/arc_2003//arc_60/60981.html
Beginners success

http://www.creonline.com/wwwboard/messages/arc_2003//arc_47/47628.html
Pick a strategy

http://www.creonline.com/wwwboard/messages/arc_2003//arc_58/58469.html
Why it might take months

Good investing,
Barry

Re: What should I do with my money? - Posted by Rob Maxwell

Posted by Rob Maxwell on April 08, 2006 at 22:21:12:

Does anyone think that buying individual MH’s in my area is a better idea than buying a smaller MHP with about 30 MH’s? I’m just trying to get a handle on where the pros and cons of the two are. On one hand I like the idea of getting the park because it already has income. On the other hand i’d like to try buying and selling one MH at a time. I could do both, but i don’t want to spread myself too thin at the same time. So any input would be greatly appreciated.

Thanks a ton,
Rob

Re: What should I do with my money? - Posted by jp(sc)

Posted by jp(sc) on April 08, 2006 at 22:09:31:

I think you mean ‘minimize’ risk.

Re: What should I do with my money? - Posted by Don Wilson

Posted by Don Wilson on April 08, 2006 at 21:46:05:

Rob:

Here is an opportunity: http://www.mobilehomeuniversity.com/forum/read.php?f=1&i=1124&t=1124

Profitable investing,

Don Wilson

Re: What should I do with my money? - Posted by Chris Reuman (Maine)

Posted by Chris Reuman (Maine) on April 11, 2006 at 24:22:43:

Maybe you can share your secret that allows you and not 95% of the mutual fund managers to beat the s&p 500 year in year out with its small 12% return. The only person that I know that has consistantly made large returns in the stock market was Warren Buffet, the early years.

Share your wisdom.

Thanks, Chris

Re: What should I do with my money? - Posted by Briton (IN)

Posted by Briton (IN) on April 09, 2006 at 10:41:46:

Do both.

Consider if you just did Lonnie deals. You would spend a few K on your first few homes and just have 390K sitting there doing nothing. Not only that but you have to deal with other park managers desires booo :frowning:

If I had 400K I would find a few nice small parks, put nice down payments on them. Then I would take the other couple hundred grand and start doing lonnie deals on your OWN property with less headaches.

I would think you you could do all this and still have money in the bank at all times. Not to mention the positive cashflow you should be able to achive quickly.

O then I would quit my JOB. :slight_smile:

But the truth is only you know what your ready for. But with 400K the sky is the limit. You may be better off taking Ryans advice above and get your feet wet doing a few Lonnie Deals to see if you like it. If your not sure where to take this, do that.

The only thing stoping you from turning that 400K into a million is yourself and a few years. You just need to figure out how rich you want to be and what your willing to do to achieve that goal.

Good luck bud, Briton (IN)

Re: What should I do with my money? - Posted by Rob Maxwell

Posted by Rob Maxwell on April 08, 2006 at 22:16:07:

This is true, thanks for pointing that out.

Rob

Re: What should I do with my money? - Posted by In agreement

Posted by In agreement on April 11, 2006 at 10:49:55:

Chris,
You took the words right out of my mouth! (or keyboard).
Horrible advice from the poster. It is well documented that the vast majority of fund managers DO NOT even match the S&P 500 and these are the so called experts who spend all day monitoring the market and have advanced financial degrees from “respected” institutions! Of course they’re more than willing to rape unsuspecting investors of all sorts of hidden fees! A testament for indexing! How is the novice poster supposed to do better than the fund managers or Buffet himself who is quoted this year as saying equity investors shouldn’t expect more than a 7-8% return in 06 and the near future??
To the poster with $400K…do yourself a favor and seek out competent advice from people you know / trust NOT anonymous folks on the WWW.

Re: What should I do with my money? - Posted by Gary

Posted by Gary on April 09, 2006 at 22:42:53:

Briton, good to see your still out there. Hope your ventures are doing well. I believe you’re NE IN., I’m in NW OH. Your advice is solid.

Re: What should I do with my money? - Posted by Rob (IA)

Posted by Rob (IA) on April 09, 2006 at 11:09:21:

Thanks for the advice Briton, I like the thought of buying the park and doing my own “lonnie deals”. This seems to make sense to me and I would have more control over the PM since it’s me. After reading posts I have learned that taking ones time and thinking through things with a clear plan of action is the best way to go. I have also learned that buying a MH with Land is also the most finacially profitable way of doing it, since you get not only money from the MH but also lot rent. My plan right now is not to get into a hurry, but take a few months and do much research and ground work before I invest my hard earned money. Buy the way some of you may wonder how a person comes into $400,000. Well I have run a business for the last 12 years and recently sold it for $1,000,000. I found that i’d rather make money from a less labor intensive investment. I believe that I have good skills in negotiating and dealing with people, so I thought that with these skills I can do well in the field of MH investing. I am just hopeful that 12 years of honing buisiness skills pays of in a more enjoyable arena. Not to mention the profit margins are a lot better. What a challenge this is. I’m very excited at the potential that MH’s present and am very excited to learn more of the rules to the game.

Thanks for all the input,
Rob

Re: What should I do with my money? - Posted by Don Wilson (OK)

Posted by Don Wilson (OK) on April 11, 2006 at 23:00:58:

Rob:

Keep in mind that MH’s and MHP’s are businesses as well and have their own set of challenges. Lots of issues can cost you your money. My recommendation is to attend some events and meet some people who are doing it to see if this is up your alley. Big problems = Big money, Little problems = little money…how hard do you want to work? Wish you all the success and Happy Hunting.

Don Wilson (OK)