How do I train my brain to see deals differently???

How do I train my brain to see deals differently???

Tulsa, OK · Member since 2013 · 14 posts · 0 votes

This is a real example
usually every year I run across a truck or boats travel trailers heavy equipment or parts or other things
like somone mentions something they need and I hunt around and try doubling money orat least getting ahead afew bucks
I did if I remember right five or six in a row all good
So Wife wanted to use her money to play
My wife and I have several lots at a nearby lake ,a lady we were talking to was telling us she let her brother stay a while in her mobile home there and she finally got him out..it's a mess .. The electric was off ...And she said she was going to have to get another mobile and move it in . Other is a pigsty and really stinks
I wanted to see it She wouldn't go inside but let us look in it. Rotten food in the fridge dried dog poop and fleas .all furniture ect .. I asked what she would take for it .
she said $2800 was still owed ,we talked awhile and She wanted it gone .
I finally asked what her bottom dollar was she replyed if we could move it out in the next two weeks she would take $600
My wife said she wanted it
several days pass ,seller paid it off.I had tag agent check title had to get back with lady and get lein off title faxed to tag agent
then I called county about back taxes interest or penaltys she was current
Arranged to move it buddy said he would for only$400 on tuesday If ready to haul
wife's brother was looking for a MH wife showed him outside of it and said needs clean up
We know tag agent , wife has seller sign title and brother is purchaser , wife sells to her brother for $3000 and he paid $450 to move
Wife at the time thought this was a good deal
I kind of did thinking she made money not lost
But I kind of wanted to clean it up and rent it, or sell it
Thought about selling it with the lake lots $2000 or so down and monthly payments
But this was her very first deal ! So she did what she wanted to

We have done afew other deals like this usually double up nothing big
How do we change our thinking and break into bigger deals

is it because the little stuff doesn't scare us or
that's what I am in the habit of finding?
We seem to grab for the quick and easy but its the small amounts and its like I'm happy if I pick up a few hundred
it's like my brain is wired wrong

then again it could be that I kind of know what I can get for this boat or tractor (or what ever)and wife is catching the bug
And on bigger things I have to use the W.A.G method

I am kind of stumped on how they figure values on a lot of property's to me it seems like a lot of homes in the 210/240 range I personally think are not worth a penny over 160
Maybe I should just play some with mobiles and the cheap fixers at first

Maybe a BRAIN TRANSPLANT!
Any donors available???

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  • Real Estate Investor · Member since 2012 · 189 posts · 32 votes
    13y

    wow... sorry... maybe it's just really late, and I should just get to bed, but I had a hard time reading all that. I don't think it was b/c of the length of it tho.

    by any chance did you write all this on your phone or tablet?

    I THINK I read somewhere in there something about mobile homes and also something in there that led me to think you might prefer to start small and get your feet wet first, maybe?

    mobile homes investing would fit that criteria. assuming that's one place to start, you'll do well to start reading here:

    Mobile Home Forum

    prolly safer, less invasive, and a safer way to help get your feet wet and train your brain to see deals differently... well, at the very least, you're at the right place and the right time if you want to get your head on straight about real estate investing.

    Maybe after I get some rest, I'll understand better what I just read.

    Good luck!

  • Tulsa, OK · Member since 2013 · 14 posts · 0 votes
    13y

    It's almost 6am up all night and brain is on the rampage
    Several things came to mind about investing
    Back when dinosaurs roamed the earth
    Wife's aunt then her parents bought property's near eufaula lake they mentioned an older house on 1.7acres was for sale we had the money
    We got it and then borrowed some bucks from credit union and replaced doors afew windows , gutted kitchen ,larger breaker box,added a bath to wall behind existing and paint,Carpets ect
    Within three or so years it was paid off we weren't really using it wife's aunt asked if we would rent it.............guess how that worked out ... about a year later
    After the sheriff got them out the kitchen cabinets gone including sink ,hot water tank
    Anything they could destroy they did and guess they needed carpet and afew things to fix up a bath and some fence and a well pump and pipe.
    So it was fix up some and sold to one of her brothers at a loss

    Next is
    help out the poor lil niece and her hubby yarn
    starts around march or April afew years ago
    Involving a nice 16x80 mobile they wanted to rent to own that we we had with little pond.
    Naturally electric and ruralwater had to stay in our name until they had the deposit money she didn't like well water
    Funny how they never did come up with it
    They actually did pay several of the electric bills at first they could handle that (because they didn't pay rent or water)
    Come winter after they used what was in tank take a wild guess who bought propane?
    But I only had to fill it one time!
    fast forward to next year.
    Finally he got a job in ft smith with his uncle and moved off
    They sold the 500 gal propane tank!
    A shed , my string mower push mower and weedeater and riding mower evaporated in thin air
    The property also had a new well with two pumps in a nice lil heated insulated shed
    And a double carport
    I guess the tornado (them) that destroyed the mobile carried off well house and carport
    Of course they said they wouldn't do us that way it had to of been someone else
    And all the trash on back bank of pond wasn't from them.......oh I forgot to mention a bit of a kitchen fire and I guess before the two 4ft outside hydrants and hoses evaporated they put the fire out with one of them
    Water makes your garden plants swell and grow
    If you water MH floors enough they do to
    We sold that lil jewel with land at a wonderful loss and when I drive by it it disgusts me

    The bright side is now there are several crappy MH's and lots and lots of junk the guy who bought it was helping his grandson a doper

    Well I should have learned several lessons
    I ain't related to anyone and I am not in the business to help you out

    Hope you enjoyed this

  • Tulsa, OK · Member since 2013 · 14 posts · 0 votes
    13y

    yes I am using an I pad maybe it looks different on computer?
    Guess I will have to see
    Then again I ramble a lot and jump from one thing to another

  • Real Estate Investor · Member since 2012 · 189 posts · 32 votes
    13y

    hahaha... whoa... hmmm... ya, i really think it's time to go to sleep now.

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