Minor Mobile Home Cosmetics…Really! & Contest

outside inside

Hey fellow investors,

I checked out a small mobile home this weekend. The owner told me over the phone the home needed only minor cosmetics. A 2/1, singlewide mobile home built in the 1960’s. The asking price was ONLY $500. Lol. The park rent ($190) was 2 months behind, this would most likely have to be paid by me. I could definately negotiated the home for free, probably with a few months of free lot rent.

What I saw when I showed up:

The park is not close to shopping centers or main roads. This is not the best of parks, actually it looked pretty rough (maybe 1 star). It took me exactly 1 second to decide that I would PASS on this deal. Sometimes the outside of a mobile home can look bad but the inside will be emmaculate. I was hoping this was the case, but unfortunately the inside looked worse.

If I was just getting started investing I may have spent some time trying to really work the numbers to see if I could maybe squeeze out a few bucks profit. My mentallity back then was, “If there was a way to make a buck on a property, lets try to make it work.”

Correct mind-frame: Cherry pick the best of the best deals. Know you are going to make money, dont just assume. Have a huge cushion of profit incase things don’t go perfectly.

Note to all investors:

This is probably the only subset of real estate that we are literally presented with more deals than we can handle or have literally have time and money for. It is for this reason that you must cherry pick the very best deals in town. Make thousands, NOT hundreds. Cash-flow $400 plus per month, NOT simply $100-$200 or worse break even or negative. If you haven’t realized this yet it is because you have not established a name for yourself or made enough offers.

Best Caption Contest

Come up with a better headline or caption than the one I came up with. I will be the sole judge and the winner will receive a complete eCourse (Volume 1-8 plus Bonuses) and 6 month coaching. (email or comment below)