All Forum Posts by: Greg B.

Welcome Marcus. I have looked into many MFH deals in your area. What exactly are you needing to know?

One thing to remember is your first deal will not be your best deal. Also, there is only so much you can learn by reading and watching others. You learn a whole bunch more when you're in the drivers seat.

I have done everything from complete rehabs to touch up work. I haven't been selling mine though, I use them for rentals. I do my own repairs for most things. I will contract out things I don't want to do myself. I'm still looking for that reliable handy man.

Mike, I am also interested in hearing about your experiences while being a licensed MH dealer. What kind of license did you hold? How did the license help you or hurt you?

Be glad to talk with you. I am buying MH's right now. Will be getting my license this summer. Then I will be selling.

You have to have a license to sell more than one MH a year in Texas.

http://www.tdhca.state.tx.us/mh/industry-info.htm

What part of Texas? Find a local REI group and network your rear off. I have found deals just because I know someone that knows someone that knows someone....

Thanks to all who responded. I appreciate the comments and ideas. Boxcar, I have 3 units in Keene and 5 units in Cleburne. I have been considering sevral apartment buildings in Arlington.

Been there, done that, spent the money also. Now I drive an 07 Jetta and an 04 GMC 3/4 ton truck.

Thanks for the reply. I have not personally seen what my competition has out there for rent. Probably that is what I need to do next. Thanks again.

Greg

Hi guys. May I share something with you I have learned? 2 years ago I read all the books most of you have or are now reading. I am a school teacher and I'm worried about my future. After reading I then began analyzing properties from the MLS to see what would work. I became discouraged and confused because most of them wouldn't cash flow on their best day. Then I began seeing the one or two opportunities to buy every so often. They were mostly REO's. I learned the lingo and how to spot them. I bought my fist rental a year ago and paid too much. It still flows but not much. I am now on my third property. An REO I paid cash for. We just got 2 of the units leased and it feels great!

2 years ago I couldn't have seen this opportunity even if it was all laid out for me. It feels so empowering to have money coming from what I learned and saw just a short time ago. I now wonder what it is that I can't see and am not aware of at this point.

As far as fear. My wife told me this scares her. I told her I scare the hell out of myself sometimes too, but the alternative is even more scary.

So, my advice to all is, do your homework and take the plunge. Your first deal will not be your best deal but you learn from each deal you do. Also, with each deal you become more confident and certain of yourself. Good luck to all.

Greg