New to real estate and looking how to start

[Kendrique Coats]

I am here after reading Rental Property Investing by Brandon Turner.  A friend and I are eager to get started and I am looking for the best practices to get the ball rolling.  Currently located in Central Illinois/Chicago area.  Thank you all in advance for your time and knowledge.

[Rachel H.]

Originally posted by @Kendrique Coats:

@Rachel H. From your experience, can you please share a few of your "I wish I would've known" or "things to avoid" tips regarding mobile home investing?

Sure thing! Definitely work in areas and neighborhoods that work with your personality. Unfortunately, I learned this lesson the hard way with my $2000 nightmare. Basically, I bought a home for $2000 in a mobile home park that didn't work with my personality. Had a hard time filling it with the types of people I felt comfortable with and who passed my application process. Neighborhoods and areas will attract a certain type of clientele. And there's nothing you can do to change that. As the old saying goes, "You can always change the home. But you can't change the neighborhood." To make a long story short, I ended up selling the home and taking a loss to another investor who wanted to move the home to his land. It was an expensive lesson learned that cost me both time and money. Hope that helps!