All Forum Posts by: Michael McDowell

I respectfully declined. Responsible decision. They do tons of mobiles & it will work but I wasn't prepared. Pulling in private money for next potential project. Staying focused on the niche for now. Thank you. 

I'm primarily laser focused on wholesaling for the next year to gain some traction & capital before fully pivoting our focus into the financial freedom of a rental portfolio. So, my mentor does the same thing & he came across a mobile home on a poured foundation. He tells me to buy it. I thought it over, crunched the numbers, talked with my contractor & it surely WILL work but it's such a small project (under $100k all in) that I can't secure hard money! I've reached out to a couple of my wealthy acquaintances & I'm waiting to hear back. Thoughts, insights, ideas? TIA

I'm not sure where the confusion lies here, but brother Steve here sure is negative. Wholesalers are LEAD GENERATORS. We are NOT scam artists & we practice with ethics. I'm not sure how much experience you have with wholesaling, but over here - we provide a SERVICE to people who CAN'T list their home & want or NEED it gone fast AND provide a service to our buyers. We eliminate many hurdles for our clients & come correct with an intelligent exit strategy OF THEIR CHOOSING. They thank us. 

Service.

@Jonathan Greene if it's a deal, why can't he lock it up, sell & everyone wins?

@Steve Morris our business model is to provide a SERVICE as wholesalers to DISTRESSED customers. We're actually helping. It's a proven strategy & market.

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*This link comes directly from our calculators, based on information input by the member who posted.

Investment Info:

Mobile home buy & hold investment.

Purchase price: $10,000
Cash invested: $10,000

Land lease $535
Taxes $500
Rent $1400

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

Listening to Bigger Pockets since day 1

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

Friends. Persuasion.

How did you finance this deal?

Cash

How did you add value to the deal?

Haven't yet

What was the outcome?

Cash Flow almost $400

Lessons learned? Challenges?

This is the way!

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

No

@Shiloh Lundahl

Beautiful selflessness! Thank you!

It's not over 4 units

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*This link comes directly from our calculators, based on information input by the member who posted.