All Forum Posts by: Sebastian Camargo

Thank you Daniel, you're right it is Fedro. I have started working with him. His course material is comprehensive and he is knowledgeable regarding mobile home investing. Thanks for the review!

Would you recommend joining the mentor ship program? How was it for you

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Quote from @Jason Wray:

Sebastian,

If you have a full time job I would advise using some of the money to buy a Primary Home. You only need 5% down which covers 2-4 Unit multifamily properties. You can also buy any Modular or Manufactured homes (Mobile) you want to focus on double wide if possible. Reason I tell you to only use part of the $50K is because its better to use the banks money.

That also allows you to stay cash fluid and have reserves for repairs and renovations. If you buy a 2-4 unit you can rent out the other doors and claim one of the units as a primary. You can refinance in 6-12 months and move out of the other unit and rent it out. Buying as a primary saves you from having to put 15% down.

Mobiles/Manufactured are great and cost efficient so either way you can buy something and only need to use a small portion of that $50K. You can buy 2-3 properties depending on your location and sale price. You can also have your father or family to help co-sign as well if you need to show more income. If you focus on a 2-4 unit the rents of the other units can be used as income on the purchase to help your DTI.

I appreciate the input! I am currently a full-time student and I own my own mobile detailing business so it may be a little difficult to get approved for a property like that (Multi-family). I am looking for more so a business/turning a quick profit and not so much an investment property.

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Long Beach, California

Hello, Bigger Pockets community, I am currently 18 and would love to hear your guys' thoughts and opinions on my situation. I am currently 18 years old with a 700+ Credit score. My father recently offered me a car and I was ecstatic about the idea. He is taking out an equity loan on the house of about $120k to make home improvements and was gonna use $50k of that to get me a car and I make payments to him instead of the bank. Now I decided what if he just gave me the cash instead for us to get our first fix and flip or start our own business? I have been researching for months now on different ways I can go about this and some of the things I have been studying and thinking of pursuing are Mobile Home Fixing and Flipping, as well as regular house fixing and flipping. My question is what can somebody at my age and situation do and how should I go about this? Is this a sufficient amount of funds to start and how would it work in getting another loan on top of this one? I was thinking private money would make more sense but would love some insight on this.

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Long Beach, California

Thank you so much Tony! I will start listening to those audiobooks, I appreciate the help!

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Los Angeles County, California

I am currently 18 and looking to start fixing and flipping houses/Mobile Homes. I first want to learn the business and seek possible mentorship before tackling the market. I have a good amount of capital saved up. A question I have is where can I network and meet real estate investors who are where I want to be? If you are an Investor that would be open to me tagging along to a project you are currently working on or an Investor that can benefit from me providing value in ways such as driving for dollars etc. I would love to get in contact with you and talk about this further.

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Los Angeles County, California

All Forum Posts by: Sebastian Camargo

Sebastian Camargo has started 2 posts and replied 5 times.

Post: John Fedroe and Mobile Home Investing

Post: How Should I use $50k?

Post: How Should I use $50k?

Post: 18 Year Old seeking to provide value

Post: 18 Year Old seeking to provide value