Every market has deals

[Logan M.]

Yesterday, I posted about 5 tips for new investors and multiple comments were to go more in-depth so I will start with my first tip, Every Market has deals.

I will give a few examples:

In 2023, I bought four Mobile Home Parks. One with 38 units on KSL (Like Craigslist), two on the MLS, and another on Facebook Marketplace.

Four of the four were seller-financed, two with 0% down, two with down payments, and one at 0% interest. What I have found is if you go directly to owners and talk about their needs you can often fit them within your buy box. Most sellers are not looking for a chunk of cash they are looking to solve a problem.

If I was starting today I would be going directly to these owners who have listed their properties and have conversations. Don't be scared to ask some hard questions and dive into what they need.

I will wrap this up with three more examples of purchases in 2024.

Last month I bought another mobile home park with nothing down, decent interest, and a ten-year balloon. This was on KSL as well and the sellers were very very motivated.

This year I have also purchased two single-family homes that I am rehabbing and both allow for lot splits so I will have a renovated home to sell or rent and a free and clear lot with each one. Currently, I am planning to build single-family homes on those lots.

Keep this business simple and focused on your niche.

[Rachel H.]

@Logan M. Great advice and stories, thanks for sharing!