All Forum Posts by: Omar Naguib

@Blake C. - Yes, I've found that, it's a good read. Thanks for that! It should be incredibly helpful. Thank you for all the help, I appreciate it!

@Sam Parkins - Lonnie's site indicates that those books are not for sale until rewritten to include Dodd-Frank rules. Not sure if that means he passed away while working on them or someone else is rewriting them. Either way, may he rest in peace. My thoughts exactly, I will start networking with park managers, and take a look at John Fedro's products.

@Andrew Davis - Noted, I will look around at different parks and see what their individual policies are.

@Belinda Lopez - I've decided I'll join two investing groups in my hometown, so I hear you on that one. I've been hearing a lot of good stuff about John Fedro's products, so I'll definitely take a look at those!

@Brian Mathews - I appreciate the heads up, will look those things up.

@Will Barnard - I hear you, in the fall I will be majoring in Real Estate, so that will help me when getting jobs in that nature. I appreciate the advice!

@Matt B. - It seems like these new regulations are really out to get the mobile home investors, so that's good to hear. With what little I've heard from John Fedro, he says the same about the 2k. I hear both sides (I need to save up/I should invest now) and will do my due diligence before deciding a path.

You all of helped tremendously, thank you for taking some time from your day to assist. Every comment was appreciated. I am already better educated and eager to read more. If I become a successful investor one day, I know I'll owe it to the BP community. Thank you!!!

@Andrew Davis - Well, I'm still very green with mobile home real estate. I haven't even read my first book on it (waiting until Lonnie Scruggs updates "Deals on Wheels," for 2014 regulations), so excuse the confusion, but seller financing would entail buying a mobile home and selling it for little down and monthly installments, correct?

If I am correct on that definition, then I understand completely, and appreciate the advice. Is renting in the mobile home market essentially dead then? Because that was my main idea on an exit strategy.

Hey guys! My name is Omar Naguib, I'm 18 and am hoping to start my investing career in mobile homes. I hope to get minimal cash flow ($50 - $100), the point of this early start is to learn so I can become a full time real estate investor at 25. Sounds like a plan, right? I've got a problem. I've been going back and forth on what type of an investor I should be, and right now I'm settled on mobile homes. I have some worries, though. I've heard that tenants can cost you big money by ruining the home and costing you repairs. I also hear that park managers can be a pain in the butt (I'm pretty easy to get along with, but still a worry). Are these legitimate worries? Should I be concerned with renting and just fix them and sell them? I'll probably start out with only $2,000, so mobile homes are really my only hope to start investing early. What are some ways to lessen the risk, besides educating oneself (I'm in that book reading process now), such as inserting certain clauses in the agreement about damage to the property?

Thanks for the help, I really appreciate any feedback I get.

The PCA meets every third Tuesday, at the Association of Realtors Building, at 6:30 PM. The REIO meets every third Thursday, also at the Association of Realtors Building, and also at 6:30. That's what I found, just in case you're interested in signing up. Found at this link (http://www.freedommentor.com/amarillo-real-estate-investment-club/), so you can verify what I just told you. Funny to find this information on a guru's website. Actually, I found everything except his e-mail! So thank you for including the link, now I can make contact.

Yeah, I'm starting to realize that networking is huge in the investing game. That was one of the main reasons I found this site, and it's been very helpful so far! This is good to know. I've read a lot about reciprocation in real estate books and it's good to know it isn't just filler. I'll definitely be attending the PCA and REIO meeting this coming week to see what it's all about. This should be a good step in moving forward with my investment education.

@Blake C. - Btw, what do you think about membership with the PCA and REIO of Amarillo? Is it worth it?

I'll take a look at that! I've been getting all types of real estate books that I can get my hands on and I'm looking for more right now. Definitely, that would be great!

I'll be sure to contact him if I'm looking for business and try not to take up too much of his time. But it's good to know his name. Are there other active real estate investors in the area, as well? How big is the investing community in Amarillo?

Okay, good to know. Thanks for the help. :)

@Mehran K. - Thank you for the advice. I have been watching my credit score for a while now, so it's nice to hear that it's important from an investor. Question: As an investor, do you find that you take out loans more? Or do you find more "creative" ways to finance deals?

@Account Closed - Thank you for the warm welcome! I've already gotten started on the Ultimate Beginner's Guide, and it's been great already. I'll definitely check out the flipping guide! Thank you so much for the help, I look forward to starting the second guide!