Real Estate Investor · Deridder, LA · Member since 2015 · 12 posts · 2 votes
ok, so I live in lake charles, la and all the refineries in the area are expanding and spending millions of dollars! This means that lots of people are moving in area. I've have the idea to buy rental homes or land and build a mobile home park for the workers. But I have never had the funds. I know I can use OPM and I have a much better idea how to do that now vs when I first had the idea. The problem seems to be that all the "big shots" of the area are outsourcing people to do there leg work and getting the best deals before anyone else can. That's brilliant I would do the same thing if I was in there place. Wholesalers are playing leap frog and I don't think there is a house in the city that someone hasn't already bought and resold. So, how can a goldfish get an advantage in an ocean of sharks?? my question in it's simplest form is; how can I get my foot in the door? Should I go to a less competitive market? I don't know? I need a mentor, I have a full time job, and I've marketed by hireling my younger relative to Find houses for me.
Investor · Fort Wayne, IN · Member since 2014 · 1k+ posts · 515 votes
11y
@Michael Glorioso so it will take more work to find a deal, but when you do there is plenty of buyers. Best of luck.You may sell your deal to one of those other wholesalers even.
I invest all over Southwest La from Alexandria to Baton Rouge to Jeff Davis Parish and points in between. I am a cash buyer and I want to invest in the Lake Charles market.
Email or PM me and we can grab lunch or coffee and see if we can help each other? There are lots of other Lake Charles area investors here on BP.
Rental Property Investor · San Francisco, CA · Member since 2010 · 117 posts · 92 votes
11y
When it comes to MHPs, just stay away from LA, MS, AL and most all of the southeast. Also, it does not make financial sense to build a MHP; buying one already cash flowing is the far better option. Read here: http://www.mobilehomeuniversity.com/articles/why-y...
Attend your local REIA meetings, find a capital partner, and go into this business together.