All Forum Posts by: Ashley Wise

What sort of numbers for various sizes of mobile home parks a good investment?

0-15

16-30

30-50

50+

I’m researching and gathering data because knowledge is awesome.

@Daria B. I get it :)

@Jared Smith PS buyers agency agreements are cancelled because the client fires the agent or the agent fires the client all the time. And a buyers agent isn’t paid unless a deal goes through.

@Jared Smith as an agent, I almost always get the buyers agency signed. This way I act in the best interest for the buyer or seller and contractually they cannot just hop over to another agent.

Here in SWMO we call a non-fiduciary role like that a transaction broker—basically, someone filling out paperwork for a commission—the agent is not obligated to give you anything but honesty, accounting and timeliness in filling out paperwork/submitting offers.

@Brian Pulaski 10 pack for $16 bucks at Lowes. Love em!

@Daria B. You can get contractor packs of those and they look fab. And girlfriend, I get the overthinking, but it means you care. :) so, good for you!

@Allen Phelps please excuse the ridiculous amount of typos in my post. Proof readings might ought to me a New Years resolution for me. #goodlort

@Allen Phelps we tend to shop at Lowes for pretty much everything except specialty windows. We have a 10% discount (military) that is assigned to our cars and the. I work with pro services people to get costs together. They can rub a QSP (quote savings plan) and it can save as high as 17% on top of sales. I don’t stick the the same paint color and scheme with every house—Boring as heck. Each house is its our deal—and I make it as functional as possible for future families. Women notice things like that—super pretty and functional kitchen, laundry area, entry way (where kids drop their stuff). It’s things like this that has caused clients to flock to us for redesigns/renovations.

I also shop FB market place and have developed a relationship with thrift stores so they will literally call me if it’s something they thing I’ll use. And we are in the process of snagging a warehouse so we can keep inventory of deals on hand.

I also build things into my design that I use as selling points—mold resistant/hypoallergenic, easy to clean etc. I’m a woman and take creating homes for other mothers with kids very seriously and it is because of this that people know, like and trust me and have paid more to work with me than other people....the human factor is something I see many real estate peeps ignore and rather focus just on the dollar. That’s a huge mistake, in my opinion.

@Chris Szepessy I would recommend the current card or one of the “debit cards” for teens for hands on experience—far more beneficial than just reading. They get paid based on the chores you assign to them. My kids have a requirement to save (pay themselves) 20%, 10% donated, 10% investments. The rest is up to them.

My older two are a bit older than yours. 15 and 17. My younger two are both 10. I don’t really buy things for them—I encourage them to get creative to see how they could generate the money to purchase or do what they want to do. It helps with developing the entrepreneurial spirit.

Books the older kids have/are reading:

Think and grow rich by Napoleon hill

The richest man in Babylon

A walk down Wall Street

Money master the game by tony Robbins

Your are a bad *** at making money by Jen sincero

Secrets of the millionaire mind by t Harv ecker

The millionaire next door

I also have them playing with stocks for free with fake money in wallstreetsurvivor.com

They get first hand experience with running numbers, negotiations and rehabs because in an agent and own a construction company with my partner, mike. They also help with designs and budgeting because I do that, too.

I’ve taught them that college isn’t everything. (Ex/ sisters are both in medical field. One is a nurse practitioner and the other a nurse anesthetist. Both making roughly the same and both with a boat load of debt. And both really not loving what they do—and then there are friends who went to trade school and are making significantly more as electricians, carpenters, etc with no student loan debt.) They have college paid for if they want or they can invest it and turn it into quite a bit more.

So they are experiencing leveraging crews, marketing, leads, etc. it’s been hugely beneficial.

My recommendations:

Play the double your money “game” with them for a round of golf. Start with a penny on hole 1 and each hole the amount is doubled...showing them compound interest.

Every chance you get let them budget hands on. My kids do this for school clothes and supplies, and birthdays/holidays in lieu of gifts. They’ve learned to thrift store shop and bargain/comparison shop to stretch that dollar even more. :)

@Dan Sheeks my oldest 2 are trust fund babies from their fathers death. I always have taken teaching money skills to them very seriously and believe every parent ought to as well. I wish schools would teach more, but I have them read all sorts of books on money, investing, etc.