All Forum Posts by: Jim Jerrett

Bigger Pockets Summit in Denver yesterday & today.

Ken,
Thank you for sharing this information with everyone. Are you attending the Summit in Denver?

THANK YOU to Greg, Ann, Rich and Jon - now I feel welcome AND less of a dinosaur! I will be arriving today around 11 (scheduling conflict this morning) and I will be the one in the blue shirt with a Jamaican motif (already feeling a kinship with you, Greg!) with a blonde wearing a skirt and - she says it's teal - colored jacket. Would love to visit face to face! My cell is 307-349-3143 and should be in around 11:00.

Ann, the days of doing the high-end mod specs are becoming a distant memory and now the smaller (and more cost-effective) the better. I am fortunate to be in an area where ,according to my local tax assessor, the property values are up 30% (I believe she is slightly delusional, but we certainly haven't seen the decline in other areas of the country) county-wide and there is a severe lack of rentals for everyone from vacationers to students to workers trying to be somewhat close to their jobs in the oil and gas industries.

Jon, if you are at the Summit I would be happy to sit down and visit with you this afternoon.

Too bad my partner, Maralyne, missed out on this. She is sharp and needs to get around some other ladies who are intelligent and like-minded. Anything going on Saturday for women to get together and network?

I am new to the forums and attended the Summit today (Friday). Not sure if I am in the right place, or the right century for that mattter. I am not much for getting on the computer and posting, but that is apparently the prescribed way to verify that you are "real" nowadays. I am probably very close to one of the oldest attendees, a tad hard of hearing and I fondly remember the good old days when we used to exchange business cards and that was considered networking. Now business cards are a thing of the past, texting, blogging and online posting is where it's at. And writing on colorful recipe cards....

My experience and approach are different than anyone I met or listened to today. My history is in factory built homes (modular/manufactured/mobile) and I deal with a lot of brand new hosuing units that are designed to be delivered to the areas where there is a demand for housing at a very cost-effective pricing. (Honestly, I about fell over listening to the presention this morning about determining demand for your project using an example citing a median net worth of potential tenants somewhere in the neighborhood of $13,800.)

Just a couple of weeks ago I saw on the national news a story about the "Ikea House" that is in essence exactly what I have to offer but from the IKEA supplier more than double the normal price. People think it's awesome because it's apparently endorsed by IKEA, lol.

When I look at the mobile home forum I see people looking to buy in the $3000 to $6000 range and I truly cannot imagine what anyone is getting for that kind of "investment" or what realistic return is available for that type of property. I feel rather alone supplying housing that new and is ideally suited for vacation rentals, worker housing, student housing, etc.. and is easy to finance with lease/purchase options that work out quite advantageously for tax purposes.

Since I have spent the money to be here (and I am already here in the labyrinth of one-way streets) I will go ahead and attend again tomorrow, but I must say this isn't what I expected. So please, if you see me, come on over and say "hello" to the old geezer being led around by the blonde....

Thank you,
Jim

There are excellent opportunities for cash flow realized from rental income utilizing factory built housing if you can wrap your mind around locating that type of housing in areas where there is demand and also take advantage of special financing such as lease/purchase that offer better tax advantages on newly constructed housing units vs. older units in need of rehab. There are also passive investment opportunities for people who simply want to see a guaranteed return on investment without ever laying a finger on a mobile home.