Most newer investors have traditional jobs, family life, and/or an education to pursue. However even with all these prior commitments, many motivated investors are wishing to pile more responsibility and work onto their shoulders. If this describes you, keep up the great daily hustle and effort. The bullets below are some items to consider when investing in real estate with a full-time job, or multiple time-consuming obligations weekly.
Author John Fedro
None of us are natural born real estate investors, so mistakes and challenges are expected. In this article we will identify many common mistakes and address how to overcome them to become a better and stronger real estate investor. Below is a short list of ways to learn and gain value through other people’s mistakes and experiences.
The bullets below reflect some of the reasons and considerations to ask yourself prior to moving any mobile home for investment purposes. 1. Zoning and Permits: City and county rules vary from location to location. In some areas you will be able to move a mobile home with very little red tape and very little restrictions.
Let’s face facts; many things have to be done between where you are currently in your real estate business and the future version of yourself that is well known by the community and creating substantial value in multiple real estate deals simultaneously. Becoming a successful real estate investor does not come without much time, energy, education, and daily action. Five serious questions to ask yourself before getting started in real estate investing
Many times we use our business cards as a crutch when socializing with other real estate investors. We throw our cards into a fishbowl hoping to win a prize, we collect as many business cards at the end of the night as we can, and we aim to give away X number of our own business cards per night to feel accomplished.
Whether you are investing in mobile homes or mansions people are people. Your renters and buyers almost always do what’s in their best interest. A renter’s credit history, rental history, criminal history, and work history may likely predict this renters future. While this article is not about how to prescreen and work with potential renters, tenants, or buyers; we will be discussing your options if and when anyone ever defaults in making you payments.
Almost all the mobile homes I have purchased that were FREE or for $1.00 were negotiated down from a much higher original asking price. If a seller is willing to give away their home for free then it is likely because nobody else is willing to step into their shoes and take on the responsibility of owning this headache mobile home. Either way there are a number of things to consider before jumping into any free mobile home opportunity.
Over the years I’ve been fooled many times. Some of these errors have been costly, and every single one has been valuable as a well-learned lesson. Sometimes even goodhearted mobile home sellers can do things that may seem frustrating or downright malicious. Below is a short list of 4 ways mobile home sellers will/may occasionally mislead you while you are trying to purchase their unwanted mobile home property.
Below are three examples of when being 100% honest with people has come back to bite me in the behind. I am happy to say that none of these events were fatal to my business however I wish I had known about them prior to making these silly mistakes.
This article is dedicated to help you cut the negative and detrimental influences from your personal and business life once and for all. This is something I have personally struggled with in the past and have since come to see the immense value in building a core group of like-minded best friends.
In the past month I popped my commercial real estate investing cherry. I am now the proud co-owner of 100+ lot mobile home community. The journey to this point of my career has been a fun, profitable, and challenging one for sure. Some things I have planned for and other surprises have completely caught me by surprise. Below is a list of 4 positive unexpected things recently learned while owning my first mobile home park.
Welcome back, Over the past week there were so many mistakes made in my business during the hiring and firing of…
Below is a short list of some of the coming activities we’re going to implement to help achieve our goals. Mission objectives are to build trust, pride of ownership in every resident, and create a community atmosphere. 1. Community Meetings: The first major effort to get to know the residents and make this park feel like a source of pride is to get the community on board with new park improve…
Some of the most lucrative and experience filled lessons have come real estate deals that were slightly to moderately challenging to close. In fact, whether other investors tried and failed, I was able to prevail. Below are 3 stories that stress the advantages and benefits of going the extra mile for your sellers.
Most investors that buy, hold and/or resell mobile homes typically will do so concerning mobile homes on owner-occupied land or inside of a preexisting mobile home park with rented land. In this article we will be discussing the latter type of mobile home.