All Forum Posts by: Jess White

@Jay Hinrichs Very true, there are some landlords that do take advantage of lower income families. It’s a very split issue for sure.

@JD Martin I loved what you said about comparing "renting the lot" to "paying property taxes". That is very true. As well as failing to pay your HOA dues.

This may be a stupid question but, are there property taxes on mobile homes, if they are leasing the lot but own the mobile/manufactured home?

@Don Alder-LaRue Great answer and very well thought out response.

To answer your question, no. I don’t think I am fully educated on the subject, but I am in the process of learning all I can. I always appreciate different sides of the coin.

Let’s deep dive on this, I really want to hear both sides of this. Let’s keep it positive and may this be a start of a conversation.

What is the morality of owning a mobile home park, specifically to those of a lower income?

Is it right to sell the dream of owning a depreciating asset to those that aren’t truly educated on the subject?

Once again, let’s keep this civil and start an ongoing conversation.

@Elizabeth Engel Recently sold on Zillow. Ask realtors who are leasing, ask landlords, etc.

I usually just start high with my rent, until it hits a sweet spot. Hardly ever takes more than 2 weeks.

@Bryan T. I’m investing in the East Texas market, Longview, Tyler area. However, I lived in Houston for several years and have a fair understanding of that market.

What it mostly comes down to is supply and your pricing of the rental. I just did a quick Zillow check out of Houston and the market still seems to be well and fine.

As long as you found a good off market deal that cash flowed with competitive pricing for the area, you will consistently make money.

Just find out what is leasing relatively quickly, and find out that specific price range that you need to offer at. If the numbers work, you win.

I think the ones that have been on the market too long are simply overpriced.

Good luck Bryan!

@Alyssa K. That has got to be frustrating. My experience with Cozy has been great so far, I couldn’t imagine dealing with checks and cash every month at this point.

This type of service has helped make my rentals even more “passive”. However, if I did experience something like that more than once I would definitely consider a switch.

@James De Stefano For sure. BP gave exact solutions. Rich Dad sparked an initial concept.

@Frank Wong "I think too often people get distracted with real estate investing and try to make it their primary income. RE should be a compliment to what you do not a replacement in the beginning. Then 15yrs down the road you can decide if you want to work for the man still." Frank, this is perfectly said. I love that and couldn't agree more. 

I think something anyone can do in the meantime to avoid dipping into their real estate income is to find a job or career path that they actually enjoy. Somewhere you don't hate to go to work everyday, just waiting for passive income to be your saving grace. It will make the process on the road to financial freedom so much more enjoyable. 

Just remember too, if it were easy everyone would be doing it.

Anyone else think that BP has taken over the Real Estate Investing Education space and essentially made the Rich Dad Company a thing of the past?

BP is steadily becoming the go to answer and resource for aspiring investors. BP books trump all the Rich Dad books by far, and are positive and not an drain on my energy.

Kiyosaki inspired many, but has gotten very negative over the years and constantly talking about the next “crash” and how everybody else is “stupid”.

BP seems to have made what they essentially started, and simplified it so that everyone can understand it. Way to go BP! What are your thoughts on this?