About to Start Investing Career in Mobile Homes
Hey guys! My name is Omar Naguib, I'm 18 and am hoping to start my investing career in mobile homes. I hope to get minimal cash flow ($50 - $100), the point of this early start is to learn so I can become a full time real estate investor at 25. Sounds like a plan, right? I've got a problem. I've been going back and forth on what type of an investor I should be, and right now I'm settled on mobile homes. I have some worries, though. I've heard that tenants can cost you big money by ruining the home and costing you repairs. I also hear that park managers can be a pain in the butt (I'm pretty easy to get along with, but still a worry). Are these legitimate worries? Should I be concerned with renting and just fix them and sell them? I'll probably start out with only $2,000, so mobile homes are really my only hope to start investing early. What are some ways to lessen the risk, besides educating oneself (I'm in that book reading process now), such as inserting certain clauses in the agreement about damage to the property?
Thanks for the help, I really appreciate any feedback I get.