Scott Merritt

50 influence

Danville, California

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IM:
Profiles:

I am a career Investment Management executive who has dabbled in traditional residential investment properties on the side. Sold 7 of 8 properties in 2005 because I knew we were in big bubble. I missed the opportunity created by the S&L crisis of the late 80s, and do not plan on missing this opportunity to buy low this time around. Looking at mobile home dealing in California and single family home purchases in depressed areas such as Las Vegas.

Experience

Have done one house flip is SF Bay Area, have had one rental home in SF Bay Area, and 7 rental condos (AZ, WA, ans 5 in Canada). Was actively involved in the work on the flip, managed the home rental, and hired management companies for the condo rentals. I told myself at the time that I was too busy to be an active remote landlord, but I was probably just too lazy. Only own one unit now, as I did see the real estate bubble coming.

Real Estate Goals

I have two goals
1) Generate cash flow from mobile home "Lonnie deals". Also a good venue to learn more about repair work, as I am inexperienced.
2) Opportunistically purchase Single Families/duplexes in the most depressed areas such as Stockton CA (positive cash flow now quite easy there) and Las Vegas, NV (cash flow, but better have a 10 year horizon if you invest for cap gains)

Currently Seeking

Lots of advice on mobile home investing in California. Lonnie's book has created many CA specific questions for me. I will try to dole these questions out in the community only in proportion to the inputs I can provide others. In other words I won't just take, take take.