All Forum Posts by: Jerry Lucker

@Aaron K. Sounds like you’re purposely discouraging investors from investigating landlord associations that just might be of benefit to them.

There are good and bad organizations of all kinds, REIA groups included.

Hate to see people pass up opportunities based just on your unfortunate experience.

@C-Dell J.

Done both!

@Rudolph Shepard Jr

Count me in!

Been doing it for 20 years. I mostly flip for cash. The profit margin percentage has always been a lot better than doing the same with real estate. The money generated has allowed me to own a nice portfolio of income producing real estate. I like to share the details with other investors. Its been an amazing business model. 

Most of my SFR are mobiles on land. Been at it for 20 years. Its great.

Hello fellow Snohomish County investor. Being a landlord has been great for 20 years. Totally happy. Takes the right attitude!

You might consider starting where I did and its as viable today as ever. Flip mobile homes in mobile home parks. Low initial investment, low cost fix up, profit margins of 50% to 200%, quick turnaround time. Its housing but not real estate. Mobile homes are personal property, sold quickly and easily with a title and bill of sale. I'm serious about the profits. Been doing this for 20 years. 

The money I've been able to put in the bank to reinvest (income producing real estate) got me over the 'trailer' mentality long ago :)

You might try finding a good landlord association. I've belonged to one for many years. They have every form necessary to manage rentals. All the forms are constantly updated to reflect current laws, codes, etc. The association has their own lobbyist, attorneys, and other well known and respected professionals. Many real estate old pros share about every aspect of buying, managing, maintenance, taxes, etc. Joining a legitimate association has been very helpful to my rental business.

This may be of interest to you. I've been an investor for 20+ years. The quickest cash of any housing investment actually has come from flipping mobile homes in parks. The profit percentage ranges from 50% to 200% with most projects completed in less than 90 days. You won't retire on one deal but the low initial investment, the profit percentage, and the quick turnaround time is hard to beat. This can be ideal for newer investors to build up some quick cash. 

The simplicity of analyzing projects is one of the keys. 1-(2+3)=4. That's the entire formula. 1) What will the house sell for after prettying it up? Comps are easy. Every park is it's own neighborhood. What have similar units actually been selling for? Real Estate folks, the MLS, and county title info will give you accurate specifics. 2) What will it cost to pretty up? If you need help just get some bids 3) What amount of profit will you be comfortable with? 4) What you can pay for the house when purchasing.

A simple Excel spreadsheet is all I've ever needed. No software :)

All the best in your endeavors! Housing will always be a great investment - done properly

@Ravi

98% of people ‘in’ real estate will never do anything. Most don’t have what it takes to be successful.

There will always be opportunities and money made by those who persist, learn, and work their tails off. Food, clothing, SHELTER!

People will always be buying, selling, etc. You can do this IF you commit and refuse to fail!