Posted by Steve (OH) on April 18, 2002 at 05:45:29:
The first problem is that they do not understand the “financing” side of the business.
The second problem is that they are not thinking out side of the “buy a house and rent it” box.
You often try and share the Lonnie idea with others and they have a hard time getting over the “house railer” hang up.
When you don’t know what you don’t know - Posted by Karl (Oh)
Posted by Karl (Oh) on April 17, 2002 at 11:45:46:
This is kind of funny. I?m meeting with a seller tomorrow night to sign a lease/option for her home. She has a loan for about $4500 with $133/mo payments. I?m just taking over her payments. It?s a 3br in nice shape, I should be able to sell it for around $12k easy.
She just called me to move our meeting up a couple hours, because she?s meeting her mother later to close on a house she?s buying. She wants to start investing in property. That?s why she wants out of her mobile home payments. Her mother is an investor, and is helping her daughter buy a house to rent out. I asked her if she had thought about investing in mobile homes. (After all, she already owned a nice money maker.) Her answer was ?no, my mom doesn?t know anything about mobile homes, we?re sticking with what she knows?. I told her that was a very good idea.
Karl Kleiner