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Updated about 15 years ago, 10/02/2009
Tin Can Investors Houston, TX
Just courious how many other there are out here investing in rolling tin cans in the Houston, TX area?
not me. just trying to get some posts up so i can get into the forum...
Originally posted by Tim Krueger:
Well I will be sure they know about the quality of posts that you make, That should help you get in faster. LOL
Hi Michael, I live in Houston and right now I am wholesaling sfr's but I am hoping to transition into mobile homes.
Take Care,
Michelle
Originally posted by Michelle Kasper:
Take Care,
Michelle
Great we can get together soon. I will begin to lead the Mobile Home Focus group for the Real Estate Investment Club of Houston, come December so I will have plenty of eager buyers under my belt.
#2 Questions About BiggerPockets & Official Site Announcements Contributor
- BiggerPockets Founder
- Maui, HI
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#2 Questions About BiggerPockets & Official Site Announcements Contributor
- BiggerPockets Founder
- Maui, HI
Why don't you guys create a mobile home investing group here on BiggerPockets?
Originally posted by Joshua Dorkin:
How am I suppose to do that? I am open to input
I am developing a Website at the moment with Forums for diffrent aspects of Mobile Home Investing at the moment.
what advantages do mobile home offer as investments compared to SFR's?
#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
I'm not a proponent of the mobile home investment. Cash flow is obtained, but at the expense of appreciation and tax benefits. I prefer appreciation and tax benefits as the benefits of RE to chase after.
Originally posted by Mr_Cash:
Why don't you come to the Mobile Home Focus Group in RICH come January I am leading the class and I will be talking all out them.
Or we can correspond personally at my contact info can be found at www.mysticrealtytx.com
Originally posted by Rich Weese:
I prefer Depreciation on my home as a mobile truly drops in value according to paperwork. But the people that buy mobile homes do not care about price, they only care about the monthly payments/
How often do you buy a home for 10k and sell for 30K at 13.5% interest?
I have owned 18 single family homes at one time, Now I am down to 10. I have not purchased anywhere as many as you, but my mentor claims I am his best student and he has purchased over 400 single family homes in 4 years.
Yet I go back to mobiles. I make 5 times the money with mobile homes. The down side is financing is more difficult for them. And you MUST be strong if you Landlord Mobile homes.
Michael, Are these mobile home sale primarily owner contracts? My understanding is that bank financing for this product is very difficult, what do you see in Texas? Can't come to your forum, live in Washington State. :mrgreen: :mrgreen: :mrgreen:
Originally posted by Michael Matthews:
Originally posted by Rich Weese:
I prefer Depreciation on my home as a mobile truly drops in value according to paperwork. But the people that buy mobile homes do not care about price, they only care about the monthly payments/
How often do you buy a home for 10k and sell for 30K at 13.5% interest?
I have owned 18 single family homes at one time, Now I am down to 10. I have not purchased anywhere as many as you, but my mentor claims I am his best student and he has purchased over 400 single family homes in 4 years.
Yet I go back to mobiles. I make 5 times the money with mobile homes. The down side is financing is more difficult for them. And you MUST be strong if you Landlord Mobile homes.
#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
Michael Matt,
If you are after cash flow ONLY and don't have about tax consequences, long term appreciation etc, there I don't think you can beat tin cans. Lending is next to impossible on older mobiles, which are the only ones affordable for 10K. You're basically creating an income stream, same as you would with tax sales. Please consider tax consequences. Not only do you not generate writeoff, but you create MORE tax consequences from selling and looking at capital gains, be it short or long term gain. That reduces your "profit" a lot.
Where can we find more info about the class, Mike? I'm very interested in picking up a mobile simply for cash flow purposes.
When I sell Mobile's Yes it is Rent to Own, I never Owner finance as it is to difficult to evict. Yet I structure the tenant buyers payments the same as owner financing.
I buy mobile homes with Cash and Credit Cards. Care to lend me private money? I pay 10% 3-5 years...
Now my class is free. I am just the teacher for the Real Estate Investment club of Houston. We will have meetings one night a month come Jan and it is free. I belive I will learn more from others than I teach, I like to have 50 diffrent people point of views on things. It only takes one great idea.
[
quote=Tony Lindsay]Michael, Are these mobile home sale primarily owner contracts? My understanding is that bank financing for this product is very difficult, what do you see in Texas? Can't come to your forum, live in Washington State. :mrgreen: :mrgreen: :mrgreen:
Originally posted by Michael Matthews:
Originally posted by Rich Weese:
I prefer Depreciation on my home as a mobile truly drops in value according to paperwork. But the people that buy mobile homes do not care about price, they only care about the monthly payments/
How often do you buy a home for 10k and sell for 30K at 13.5% interest?
I have owned 18 single family homes at one time, Now I am down to 10. I have not purchased anywhere as many as you, but my mentor claims I am his best student and he has purchased over 400 single family homes in 4 years.
Yet I go back to mobiles. I make 5 times the money with mobile homes. The down side is financing is more difficult for them. And you MUST be strong if you Landlord Mobile homes.
Michael I would be interested in attending your classes. What is the schedule and requirements for attending.
This Class I give is free. You must be a member of the Real Estate Investment CLub of Houston to Attend.
I will be revealing as far as I am concerned is the ultimate secret to buying and selling Mobile Homes this month.
This one thing in my opinion will give you access to enough knowledge to build you mobile home career. All it takes to succeed is action.
Originally posted by Jesus Garcia:
Gee, I have one you can hve for $950. green dollars,,,total price. needs a bit of work but overall not so very bad!!
What city are you in DON?
Michael, since your classes in Houston are free why not share the same info here on bigger pockets, in a tread, blog or group. I'm sure there would be a lot of interest. Jim
They are not free , you must be RICH member for my services.
Originally posted by Jim Doine:
Hey Mike, are you still having these meetings at the RICH club? Thanks.
Originally posted by DANIEL YOO:
Yes i sure am just go to www.richclub.org and check out the calender for the next date.
I will be at the Main Monthly meeting in 12 Hours from now as well/
