All Forum Posts by: Michael Ellis

Hi Everyone!

My name is Michael and I live in Shasta County in Northern California. My wife and I are thinking about starting out investing in mobile homes. I have read several different methods for finding deals and working with parks to make the deals work. My question is what are the advantages and disadvantages of working with Park Owners instead of park managers?

I read an ebook several years ago that taught The Mobile Homer technique. Which was basically suggesting to work directly with MHP owners to help them maximize the value of their park by getting old run down mobiles rehabbed or replaced and getting empty spaces filled.  It sounds like a workable plan, but I don't hear about many mobile home investors mention this method.  I would appreciate any input and experiences you all may have had in this area.

Thank you!

Michael Ellis

It would seem to me that the best way to make good money in real estate investment is to be flexible in how you make your money. Buy and hold, flipping, wholesaling, vacation rentals, all are can be excellent ways to earn income as well as invest in your future. However every one of those strategies can make you go broke or worse if you do them wrong or make major mistakes.   

Even though my wife and I are only now just getting started in real estate investment, we have both been around real estate as a business for year. My mother and uncle are partners and have invested in commercial RE for years. My wife had many years experience managing apartments and other rental real estate.  Now that we are ready to make real estate our full time occupation we wanted to have a plan that would get us the most money up front as possible but also allowed us to buy and hold properties that made sense financially.  

There is no, one size fits all strategy to become successful in REI. It would seem to me that your best bet is to focus on one or two strategies that you are comfortable with always making sure that your numbers show positive cash flow. But always keep an eye open with regards to other ways of profiting from properties that come your way.

Hello everyone,

My name is Michael Ellis and my wife and I live in Redding, CA. Now that we are in our 40's and have two small children, we figured we better get in gear and start building a future for ourselves and our kids. Been studying REI for years, was a Realtor back in 2000 but got out of it and basically just struggled through that first decade of the 21st century. Both my wife and I have wanted to invest in real estate for years but were both afraid to pull the trigger. We never felt that we had enough time, money or knowledge to make it happen. Well, long story short, we ended up recently purchasing our first home. Now that we have done it once, we are ready to jump in.

What we are mainly interested in at this point is wholesaling for cash and using subject to and lease optioning to acquire buy and hold property. 

Favorite books:

Creating Wealth by Robert Allen - first book I read on REI back in the day.

Rich Dad - Poor Dad by Robert Kiyosaki - This is the book that my wife and I both read that made us realize that we really didn't need lots of money or credit to become wealthy.

The E-Myth by Michael Gerber - This book made me realize how important it is to have business systems in place.

Would love to talk to anyone in northern california or anywhere that have experience doing wholesales and creative financing for properties. 

Thanks all,

Michael and Amelia