All Forum Posts by: Emmanuel Otero

Thank you guys for the welcome. I have been browsing already through all the topics so much info to take on at once lol. I have been listening to the podcasts for almost two weeks before coming on forum. I went all the way to the first podcast.

Hello, my name is Emmanuel Otero. My friends and coworkers call me Manny, a nickname that has stuck with me since high school. I live in Wyoming and am new to real estate investing, even though I bought my first mobile home few years ago and am thinking of either selling for 25k or renting out to cash flow about 350 to 400 dollars. I plan on getting my license and begin making deals. Long term goals are to become financially stable using real estate to enjoy more out of life.

I am a newbie that works full time but am also looking into getting my real estate license. My question today is what states are reciprocal with Wyoming? I am not enrolled in the classes yet but am close to taking that plunge. Want to start out as an agent as I grow as an investor.

Investment Info:

Mobile home other investment in Cheyenne.

Purchase price: $2,800
Cash invested: $7,000

I bought this mobile home as primary residence but am now thinking of either selling or renting for cash flow. After all my work i can sell mobile for up to $25,000 and as low as $18,000. It was completely done by me with very little help. New drywall, majority new electrical, new plumbing, ac unit, windows, doors, subfloors, bath, kitchen everything new.

What made you interested in investing in this type of deal?

My wife wanted our own place vs renting.

How did you find this deal and how did you negotiate it?

Met owner thru 3rd party. Originally priced at 5k. offered 2k. fish didn't bite. got contacted months later to see if I was still interested and was told price dropped to $2800. Paid $2750.

How did you finance this deal?

cash was king

What was the outcome?

bought and renovated completely

Lessons learned? Challenges?

don't deal with people who act shady.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

none on this deal