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    Section 8

    REAL ESTATE 
    I love section 8 and have been using it for years. I get above market rent and never have to chase down a tenant for rent. I have been with section 8 for 13 years now and have never had a problem with a tenant. I wish all of my tenants were section 8 I have heard the stories,but I think most...
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    Mobile homes as revenue properties...

    REAL ESTATE 
    Wildflower, The mobile home parks make there money off the dirt,so they want your buyer to keep on paying the lot rent. The only time I heard of that happening was when a park was sold and being torn down to build homes. That park bought out each owner for a nice amount. Runum, On the...
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    Mobile homes as revenue properties...

    REAL ESTATE 
    Thanks Runum, You were one of the first to make me feel at home when I starting posting here. You add priceless value to this site.
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    Mobile homes as revenue properties...

    REAL ESTATE 
    Your dead on,you sound like you have been doing it for years.
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    Mobile homes as revenue properties...

    REAL ESTATE 
    This happens about 50% of the time. I have sold the same mobile 5 times over the years. This is not a problem, because it keeps the income stream coming in. All parks are different, Some will want you to guarantee the lot rent and others will go after the buyer. After the first buyer pays me...
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    Mobile homes as revenue properties...

    REAL ESTATE 
    Wildflower, When you buy and sell in a park,it is the same as a buy here pay here car lot. These people only care about the monthly payment. I never worry about the MH going down in value, because it does not matter to this type of buyer. I have done many lonnie deals and made great money...
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    What to know about flipping a house

    REAL ESTATE 
    I agree steve cook is the best when it comes to flipping. He is a super nice guy and a great business man.
  8. D

    Hakrjak's $500k self re-invention...

    100k around here and you can do 3-4 rehabs at a time. You can flip contracts,I know a woman in my area who does this with no money and makes over 100k a year.
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    Hakrjak's $500k self re-invention...

    I still think you should do more REI. I have made as much as your doctor friend a few times in this market and so have my investor buddies. You just have to roll with the times. I know a few investor friends who looked for another business when things change. They are now back working a job. If...
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    Hakrjak's $500k self re-invention...

    Why not flip fulltime? It would not take much to match and surpass your income from your job. Just 3 easy flips would work you out of a job.
  11. D

    Good to be here

    Its a great place to be. Welcome aboard.
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    Market improving?

    REAL ESTATE 
    I have bought more then I have tried to sell this year. I'm just finishing one up. Paid 29k for a house in a good area, put 6k into it and will try to sell it for 65k. Same house sold for 120k in 2006.
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    Market improving?

    REAL ESTATE 
    I'm a positive person,but I think it is a dead cat bounce.
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    4plex analysis

    REAL ESTATE 
    You left out many numbers, like taxes, ins, repair and maintenance. Are you going to manage it? I don't like the price now. It looks like you would be feeding it with your money monthly. I like to steal deals especially in this market. You should be looking for motivated sellers. I would look...
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    $40,000 cash to $3,000/month in 2 months

    The same reason people go to amscott or pawnshops or rent a centers. They need money fast and don't know how to handle money. Life happenes,divorce,probate,tired landlord,repairs they can't do or afford,etc. When you meet your first motivated seller,you will see.
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    $40,000 cash to $3,000/month in 2 months

    I would go out and buy 4 mobiles ,each on there own lots for 10k a piece. Now they sell for 40k each around here, so you have to go find some good deals. This would give you 2k a month cashflow after expenses. Then save the 2k a month and buy two more in a year and you have your 3k a month long...
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    Don't mess with old people!

    FUNNY 
    I dusted off the printer for that one. Thanks for the laugh, I needed that this morning..
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    Cocaine and Billy Mays

    OFF-TOPIC 
    About a year ago a friend of mine who owns a tattoo shop in tampa bay said a guy came in his shop to get a tat. Billy mays came on the tv and the guy said he was a big time coke head and knew the guy who sold him the stuff. My friend and I did not believe it and now this comes out.
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    How to Create a Mobile Home Money Machine by Lonnie Scruggs

    Yep, I love my mobiles. The best kept secret in RE. I guess its not really a secret. Know matter how many times people talk about how great mobiles are or have events on mobiles it never increases my competition. I think most people still think mobiles are beneath them. They are such cashcows...
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    Allow me to re introduce myself! (SoCal)

    Come on in the water is fine. This is a great place to visit and live. Welcome.

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