Latest Deal

[Joe Pitrolo]

74 2 br/1ba for $800
Lot rent of $150 mo. includes garbage
repairs estimated at $1000 to 1500
Rent for $450 clear around $275 per month- paid off in 10 months.
Or I can sell for 5,500 with $500 down and $500 per month.
I'm leaning towards selling because of the liability of being a LL.

I can also put an older model 77 decent 2 bedroom beside this one for a total cost of around 3k- sell for 6, rent for $500.
Why do these deals not excite me? Maybe because until they are paid off, I worry too much? Maybe buying 70s model scares me. To me, this is like getting some valuable practice in real estate because currently I don't have a lot to play with currently so I'm trying to get in the game with the chips I have. I'm sure I will learn and make a little also. My motivation is lacking.
Anyone have a bigger picture view?
:D

[Marc Faulkner]

Here is a little bit of advice on how to keep your costs down: Tie the mobile home up with a contract and 100 down. Find a buyer BEFORE you actually buy home. I have also found that is it easy to get folks that are willing to carry a note at great terms when I buy so I don't have to tap into my cash or credit. Buy on a note, sell on a note-use your buyers money as your down payment! I hope this helps.....