All Forum Posts by: John Carpenter

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

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

This is an addition to the above post
I left out the part about sister (a) soon was an expert and prior to her demise

She was very helpful and decided to pass on some of her profound knowledge to sister B and her husband who lived in a nice neighborhood
Soon sisB found a home in aWonderland part of town called money land where sis A lived.

she had learned from one of the wizards that the property's there came with money trees in the yards, if you get in on one of these great deals they can hook you up with
they are worth more every day !
Sis B and hubby ....got in way way over their heads
And now thought they had to play keep up with the jones at the new place (more debt)
Listed Old house didn't sell so decided to try renting to help make both payments
Renters were lemons
They were to easy at first partial payments ect
Finally got sheriff to remove them after months and months
Within the next few days Hmmmm..... Vandals surly not those who were evicted decided to do a number on the place
And they didn't have the funds to fix or continue the payments
Not much later it was the big B for them
They got to stay in wonderland home
And the sisters both live close but avoid each other and run in different circles

Personally I don't blame the Gurus
Every lesson in life comes at a cost one way or another

My step father was doing fine buying houses usually picked up several a year did it for years
While down in vegas afew years ago they lucked into a GURU
soon after they knew the truth these guys are magical
They decided to fly here and there
One guru after another and naturally buy all their trash and believe it
Then got one of my sisters into it (who was running a successful business)and paid her way the first few times soon she was an addict
I don't know the total spent gathering all this wonderful knowledge
But after putting it to use and many phone calls with them getting awesome advice

He ended up losing each and every house and bankrupt
Sis quit a little sooner, right before the divorce , out of business and lost quite a chunk of change and a husband
They had a healthy stash and lots of little plastic cards to use so. it took several years to break them
I'm the poor boy in the family ..... But I am living better than they are
And have a little to play with so naturally am GURU hunting (not)

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???

I am trying to understand different ways of seeing things
I understand that if your able to do a lot of different things you should go with what gives you the highest return.
Around here it seems in the trades that if you talked to them today most tell you they will show up let's say Monday at 7am ( they forget to mention which month) and getting them to actually appear is a pain it maybe three weeks before they show if ever
I get sick of waiting and usually DIY

I have a brother who is a GC who subs out everything and trying to schedule jobs is a royal pain seems like a lot of guys aren't that interested in working at times he has to keep things going best he can his main problem is the electricians holding it up for the others

Some of us don't have a lot of money and at first we have no choice but to do the best we can.
Depending on how we see things
The Roof example :
is good
In my case if I don't have the shingles already I can get them cheap
I can see this several ways
#1 I am not paying $600
If I do it in two hours I could say I made 250 an hour and be happy. Usually how I see things
#2. I actually know afew guys who I could talk into it for $10/12 an hour and do it right
And some others who would do it for not much more
some work Saturday so may have to wait till Sunday but it would get done
#3 on a weekend call one of my boys or one of the two oldest grandsons and talk abit
Then ease in that my shoulder has been bugging me .Hmmmm do you think there is any any chance I can get you to ....
Put afew bundles of shingles on a roof for me????
When they show ...have everything ready ....massage shoulder some abit of pain face

Roof gets done free

actually his wife talked to me in front of him and told me to make him figure all materials and supply all tools,and organize the help that he will see real quick how things work
and see how he likes it
That I should start my time from when I leave house charge him for phone discussions
She let him have it

we think similar in a lot of areas
Outside of work arena we get along fine

The contractors and I don't owe him anything don't live on one of his places and usually we are treated quite abit differently than help he supply's who owe him money
he just likes to hang on to every penny he can
But that's better than being to free with the money
he says a lot of the folks will take whatever they can from you
And I ask for it

At times I am to easy I will buy lunch cigarettes whatever for folks who waste their money and they never seem to think about tomorrow
I try to limit it ,I don't help anymore on pawned crap or car repo's if they screw off the money to bad
I realize some you cannot help

I have had nice deals for example
About two years ago I kept hounding a bank I had bought vehicles from in the past
I was low balling on several vehicles ,two boats and afew mobiles ,a tractor and a travel trailer I wanted a package deal from different branches
two of the mobiles they got a better offer so I lost out on them and tractor
But I got a sweet deal on the rest

he thought I came out good on that and bragged me up some
But the first look on his face was like he was afraid or saw we may compete at times
He says I resell to cheap at times I agree with him
After our first trip to an auction we found out we were bidding each other but that's worked out now

Thanks for all the replys
I will stick with him for awhile He knows I will be branching out on own
I had discussed mobile homes with him in the past he said "there wasn't enough money in them". I knew where some were he ended up getting afew
So when I started doing the same thing he acted like I was robbing him
When I run across something now if I can I get it I do but my deals have only been mobiles usually on two acres or less or have to move

Meanwhile I will save and gather materials
I know of several houses if they will come down on price I will be in the game
My Brother in law is an agent but talking to thehome owners directly or the bank seems to be easier to me

Thank You for the replys!
As I mentioned I work for an investor spend most of my time dealing with his stuff.

only investing I have done for myself has been in mobile homes so far and several lots two acres or less and two at a nearby lake
Quick and easy on mobiles check county for taxes and tag agent for a lien and if it has to be moved I have someone

When I unload afew of above I plan on jumping into houses and have two guys I would hire if financially able it would be nice to hire it all out and just find deals
Have tons to learn

spent yesterday morning clearing my stuff out of his warehouse and storage and collected all my tools and materials right down to the MH tires and axles.
Last night at his house we had a discussion that lasted until almost 1am
His wife took my side and told him to stop the garbage.
most of it was about money. he likes to see how many months he can go before paying
Anyone for anything. That was a major issue. It was very hard to get someone to work when they had not been paid for last gig
.The ones he avoided paying, I found to work to begin with so it was on me.Eventually I got paid back
I have afew people who will clean out the pig houses they get whatever pigs left and small amount of cash.....and then after we fix back up ..... I have afew who do final cleanup
That was usually on me
I also was putting a pack of lightbulbs and four pack of toilet paper in them that I always paid for.(he said that was on whoever rented not him and never coddle them or they always want something)
Another issue was yard cleanup mowing.....he thought let whoever ends up renting it should handle it
I have one guy who will do some mowing for a couple of cans of skoal chewing tobacco
I had to supply mower and take him there and back
There were a lot of other issues brought up
Like tools and saw blades drill bits lots of little stuff

His major balking point was in the area of wanting to hide fix ups
And code and permit avoidance
That lasted awhile
I ended up at $22.50 and getting my money plus and signed checks so I can pay afew folks to finish up afew projects
We didn't get it all gone over but his wife really chewed him out