All Forum Posts by: Charles Morgan

Who is buying the lot? Do you have to give them the $1000 before they will look at the deal?

If it is a deal then sell it to an investor and save the $1000.

I hope I'm not being negative :-)

Seriously though, some more information on the program would be nice.

Mine wasn't exactly a real estate book, it was "Rule #1" by Phil Town. Much of what he advocates for the Stock market just seemed a perfect fit for buy/hold.

Buy something you would like to hold for 20years, research the company(property), sell when it will make you a certain percentage.

Homer Simpson said it well "Doh"!

Still own my first, purchased in 1986 with my ex-wife, as our family home.

Started renting it out in 2006, do not regret keeping it although I did refi to purchase two other homes.

Great Grand child is here, missed my birthday by a whole week.

His mother still needs a Sugar Daddy "Mentor". :-)

Renters for one of the houses are moving in this weekend.

Dog still needs a Sugar Daddy "Mentor". :-)

I may sound like a broken record here but: search Bigger Pockets forums and podcasts. I own two mobile homes that I bought without any "Deal Maker Formula".

Similar to @Dawn Anastasi , I had a guy almost beg me to take his deposit and first month's rent after barely looking at the house, needless to say, he didn't get it. I figured if he was that desperate then he was probably being evicted from his last place.

I am currently working on converting a HML to conventional. I have lived there for over a year, done some repairs and upgrades. The bank doesn't seem to care how it is currently financed as long as it passes the appraisal, however they still want your credit/D to I, etc. to be acceptable.

There is nothing that says you have to convert from HML to conventional except that most HML's have a balloon at some point, mine was at 7 years.

@Dawn Anastasi @J Scott @Raymond B. @Dawn Anastasi finally got the references working.

Reposting this so you guys don't have to go looking.

@J Scott Thank you, I'm glad you got a smile out of it.

@Raymond B. Great idea, buy a rental up there and make her property manager.

@Dawn Anastasi Thank you, Bumping the asking rent by 50%

I expect the MH to make much more than 16%

I have my fingers crossed on the life lesson.

I'm sure the dog will have a great life when I find her a home

The 22 year old is my Granddaughter, I will soon be Great Grandpa!

Update:

One re-fi went through saving $70/m, one is close saving potentially $250.

One rental is cleaned, fixed and has two showings this weekend.

One rental is in the process of being cleaned.

One Great Grandkid should be here in days, hopefully on my birthday Friday.

@Silvestre Madrid I like that, lol. But, the buyers agent may wonder why he didn't get the sale. If he finds out then word will spread that you are not representing the sellers/agents best interest and agents will refuse to deal with you. Or the seller may/ WILL talk, not worth the risk in my opinion. $5000 now or $100k in lost commissions later.

@Mark Ferguson Thank you for that, I was not aware of the holding period. I will see if it is the same in Texas. Of course if you saw it before it expired you should still be fair to the listing agent.

@Silvestre M.remember, YOU are not the seller and you don't have the choice. The seller has that option of course. If I was selling I might prefer someone with the last name Morgan. But watch out for those Fair Housing laws, they can come at you from the backside real quick!