Happy Tuesday everyone,
Tomorrow is St. Patrick’s Day… I plan on taking most of the day off to reflect on the first quarter of 2010. I do my best reflecting over a beer or two. What will you be doing for tomorrow’s festivities?
Marketing:
Yesterday I hung 25 signs around Austin to look for more mobile homes to buy and/or residential wholesaling opportunities. I really dislike/hate hanging bandit signs because it is so freaking boring and tedious. It is a great way to advertise and market so for now it is a neccessary evil. When I do go out, I prefer hanging signs at night rather than daytime.
I have already received 16 calls today alone from these signs. This batch of signs isn’t specific towards mobile homes (pic above) so I’ve been getting calls from mostly residential home owners.
Most of the FSBO calls I have been recieving are from properties that are currently with Realtors, too over leveraged or too high LTV (loan to value). Except for 1. The mobile looks great, its a 4/2 singlewide, clean and all appliences included. It is a great home that I will love to add to the portfolio. I have not bought this one yet and am still in the negotiation phase. She is asking $7,000, which is a more than fair price for an end user. if i am going tol buy it it won’t be for more an $3,000 cash or $5,000 with terms.
PLUS: This weekend I have an appointment with a local park manager to walk through her park and see what she has in my price range. She states she has 2-4 homes she would consider letting go for a great price ($1,100) each for a package deal. I’ll keep you posted?
Do you have any business plans this weekend? If no, why not?
PLUS: I forgot that I had paid for a full month worth of advertising in my local penny saver magazine. The first week I had run the ad for the 2 mobiles I wrote about in a prior post. These two mobiles sold in days to a mother and daughter (via rent to own). The next week I assumed the ad stopped running. Well you know aht happens when you assume. The ad continued to run and with the calls I am receiving I am able to start generating a “mobile home buyers list” for my future mobile homes.
Birthdays: Last Friday was my 28th birthday. Hooorayyy!!! I am always sad to see another year go by. You ever feel the same? I spent the night in downtown Austin having a great time celebrating with friends.
I want to thank everyone that left me a mI also had time this past week to see how fortunate I was to stubmle accross real estate investing at such an early age. To the readers that have yet to complete their first deal, now is the time to start learning and investing! For everyone else, keep learning and moving forward, “Rome wasn’t built in a day”.
John Fedro
Tags: birthday, marketing, mobile homes, Texas
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