Week 28 – Re-Evaluation

It's been a rather quiet and uneventful week. Not much progress has occurred. The weather has gotten worse and the rain was relentless for this past week. Forecast is showing that sunshine won't come back until Tuesday so I'm hoping that is the case. Otherwise, it's been a week of catching back up and getting back into it for me.

Most of the week was spent getting back into the routine with my day job. I spent sometime this weekend reading some blogs on BP and have realized that I need to do some restructuring before I can take on more projects. For the most part my personal finances are ok, however, I did use some consumer financing for my projects. Not the smartest thing, but I think it will work out in the end.

Going forward I have to be more discipline and just proceed with one project at a time. Until I really know all the ins and outs I shouldn't be doing concurrent projects. That said I'm still waiting to close out project 192. We'll see if my tenant buyers back out on me or not, but I really do think it will go through.

If the sun comes and stay for a while then Project Rocky can move to it's destination. Once there, rehabbing will take some time. I'm looking to fix the windows and roof as a priority. I have some ideas but not an exact figure as to how much things will cost just to meet park standards. Hopefully, not too much.

Once I've clear out everything on my plates I'm going to be one happy camper just to deal with one project at a time. I finally made it to podcast 90, still listening to it however. A little more than halfway now.

I reached out to another local investor this week who was a wholesaler. Seems like he got the systems down as he has already completed around 8 deals even though he's still in his first year. As I am slowly reaching my limit in funding, I'm quite interested in wholesaling as a way to generate capital for my mobile homes niche. That said, I'm still going to move quite slowly since the whole reason I picked mobile homes to begin with was to avoid the hectic hustling that comes with wholesaling.

We'll see if I can develop some relationships with some wholesalers and work out some kind of deals where all parties can benefit. Well, that's all I have for this week folks. See you next week and happy investing.