After a Dave Ramsey "moment" I have found myself debt free, 39 years old, in a rental (as I haven't fount the right deal on the home and property I want to own) since selling my last home.I'm in an area that has EXPLODED in value due to recent oil field activity and a shortage of homes for sale, much less for rent.My initial thought was to continue looking for that 50 - 100 acre property to build a home on so that I can leave my kids that "legacy" that many of us in Texas dream of.My thought process has changed as I can't afford it in this area and school district anymore.I'm considering buying 10-15 unrestricted acres and buying a mid sized mobile home to live in for 2 years while continuing to save for that bigger property and modest country home to live in.I'm watching single wides on 1 acre rent for $1500 per month in this area and double wides rent for $2,000 + while larger stick built homes rent for $4,000-$5,000 per month as the oil field workers will "split" a 4 bedroom home at $1,000 per month each without batting an eye.My thought is to buy this property, put the double wide on it, live in it for a couple of years while adding a single wide rental or 2 per year in the process.This oil activity (The Eagle Ford Shale) is expected to be a "20 year play".I can pay cash for the property, as a conventional mortgage would likely prevent me from "splitting" the property into 1/2 -1 acre tracts with mobile homes if I wanted to.My thought is that if I can buy this property at $10,000 an acre, put a used yet remodeled double wide on it for $60,000 - $70,000 to live in temporarily while adding a few $25,000 (after utilities, septic, pads and driveways) single wides that would rent for even $1200 per month I could fund and cash flow my goal of that 50-100 acre "home stead".Have I lost my mind?

I'll describe the transaction below:- Selling a 2/2 condo in Miami's Coconut Groove for 297k$ as a cash transaction.

The numbers need to work, but don't use the excuse that "this market is too hot" or "oil is crashing, I'd better wait".  

Having said that, if you're in upstate New York and your town is considered by lenders (notice how I qualified "considered by lenders") to be rural or if there were ever any underground oil tanks or other things like that, you're going to have to go with a local bank. 

She's running good, but I've never changed her oil, and I think its about time to put her down.

According to Kiyosaki, he owns 4,000 apartment units, five golf courses, silver and gold mines, and oil drilling operations, yet he pays NO tax, making over two million per month "without working, tax free".

I do not know much about foreign currencies, but 10%+ a month sounds too good to be true, unless the risk factor is very high.I am involved in some oil and gas investments which have yielded above 20% for over 10 years, but that is annual, not monthly.

If possible I would like to hear some feedback on the properties below:Property 1: Listing price $149,0002 Commercial Units & 1 ResidentialIncome: $17,499Factored in a Vacancy/Loss Rate = 5% or $921Expenses:Taxes = 2200Insurance = 700Trash = 400Water/Sewer = 1,000Maint = 2,000 (high estimate)Total Expenses: $6300Expenses of % of Gross Income =39.20%NOI = $11,199Mortgage = $7,854Total Cash Flow = $3,345 Cash ROI =7.37%Property 2: Listing price $149,0002 Commercial Units & 1 ResidentialIncome: $17,100Factored in a Vacancy/Loss Rate = 5% or $900Expenses:Taxes = 2600Insurance = 800Trash = 400Water/Sewer = 800Maint = 2,000 (high estimate)Oil = $3,900Electric =$1,800Total Expenses: $12,300Expenses of % of Gross Income =73.33%NOI = $4800Mortgage = $7,854Total Cash flow = (3,053)Property 2 obviously does not look good on paper because of the expenses due to oil and electric.She has them listed to buy both for $289,000.

I've been a construction MGR in oil and gas for 10 years and in the business 21 years.

Kilz oil or any other primer will eventually allow it to bleed back through.