All Forum Posts by: Shawn Cottle

Thank you! I don't buy anything on mls, if it's listed it's already too high in my opinion. All my deals come from marketing, networking and or wholesalers. Also yes on all my deals I stay in Weber county. 

Figured I would share my latest flip success. Here’s a little back ground on myself. I have been in real estate since 2004, have flipped dozens of properties, and sold dozens more homes. I have had many successes and also lost money. Flipping homes isn’t for everyone. I have learned a few things over the years. I am a full time Realtor and know and understand the market better than most. My advice is always get a great team of people you can trust. Don’t fall for those get rich quick schemes that you have to pay $20k for a so called education. Find someone who knows what they are doing and partner up. So here are the numbers: Purchase Price: 140k Holding Costs: $3,350 Rehabbing costs: $45k Total: $198,350 Sales Price: $240,000 Commissions: $0 (I’m a full time realtor and found a buyer myself) Seller paid closing: $5,000 Net Profit: $46,650

My real estate attorney who I have used for years is Ron Dunn with Dunn Law Utah. Best one I've ever came across. Best of luck!

Not sure if you've found anyone but I have been in real estate since 2004 and specialize in Davis county which is where Layton is. I also have a ton of connections for flips and investments. Feel free to pm me if you'd like to chat. 

If you're worried about lot rent you need to go talk to the park manager and see if they offer concessions to investors. I run a park and we offer a 2 month rent concession to our investors/dealers. Get to know the park manager and build a relationship with them. They can also help you sell your home. Managers are always the first point of contact to any park. Most of the time they have buyers and make sure you scratch their back when they help you. Mobile homes are still hot and especially since it's tax time people are looking to pay cash for one. Best of luck!

I'm a big believer in you get what you pay for. If you pay too little the PM won't care about your property as much. I always find it funny that someone will spend hundreds of thousands on an investment property and then complain or try to get the PM to lower their fees. You're literally talking about pennies compared to the actual investment. I myself will not ever lower my costs on what I charge someone to manager their property. I always have charged a flat 10% of the gross rent. If it's rented I get paid if not I don't get paid. A good PM is worth every penny. They can ultimately be the difference between a good investment that profits you or not.

Having a certification will give u a leg up on others. I say go for it! Best of luck.

I just bought a 2/1 for $750. It needs about $2500 in fix up but I should be able to sell it for minimum of $10k when it's done. They are out there you just need to keep searching and not give up. Make good with the community park manager and that will help you out tremendously. The manager can be your best friend, and help you find that great deal. Best of luck!

I am a park manager of a park in Utah. The biggest advice I can give is make friends with the manager. They are the first point of contact with your buyers and sellers and can hep you in so many ways. Managers can/will make a mobile home investor successful. Become their friends and when they have a deal you'll be the first one they contact. Best of luck!

Nikki, I would love to help you out. I'm located in Weber county and know the area very well and specialize in working with investors. I invest myself and could introduce you to some key players in the area.