What a great feeling that was....until I realized that money would have been good seed money for more properties.

Anyway if anyone has thoughts on this point too, do let me know, although I realize that that's veering off the original topic of this post somewhat so feel free to ignore this part if not appropriate!

Total Cash Invested: $500.00 plus closing fees.Loan Interest Rate: 4.00% This rate is achievable but this is today's rates, but do realize the current market trend and that this is an investment property so I would caution you, I would analyze at 5% as a mid-range.

I'll dig through my emails- I can DM when I find the info :) -sorry I just realized I didn't post reply!

Searching for a good deal doesn't cost much, so you could put all of your energy into that and, if it's a really good deal, easily find a partner or use a private lender.One thing I think we've all realized from the coronavirus situation is that you must have plenty of reserves for when the worst happens.

Then you also have to realize that many of the parts on a mobile home are not the same as a SF home (different water heater, different furnace, different doors, windows, etc.) and you can't just run down to Lowe's and buy the right ones (but they are available on-line). 

I guess we don't want to look back on all this and realize we were the "fearful" in Buffet's quote, when we should have been "greedy".  

I realize these estimates will play into the CoCROI which is likely to have some effect on my willingness to purse a deal.

After pouring time into analyzing it, quotes from lenders and insurance agents, money into inspections, and getting attached to the idea of owning my first property, I had to realize that I needed to pull emotion out of the decision and let that first property go.

I realized that like me there are a ton of new real estate investors who are trying to get in the game, in the process of getting in the game or just got into the game and is figuring this **** out on the go.