All Forum Posts by: Paul DoCampo

@Mo Farraj That's exactly why I like mobile home investing and cash flow with notes created from them . Where It cost less than $30k for all in cost ( for most of them) and your annual ROI is a minimum of 30%

@Maurice Blackledge I know you're looking for rentals specifically , but take into consideration mobile home investing (specifically called Lonnie deals) for double digits returns and usually better cash flow than rentals . You don't rent them. You just own the paper

@Shalom Afraimian I've only sold mobile homes but I know for me, a good agent is a blessing. That's means no more answering phones from buyers , dealing with tire kickers, or showings . Agents are supposed to be sales men. If they aren't doing there job in actively selling rather than just posting one ad on the MLS... Then I don't want them. But those that actively earn their commission is a great asset I'll be happy to pay 3% or more .

I know this doesn't answer your question directly, but consider low-barrier niches in Southern CA, that isn't exactly the traditional rental and flip industry that 90% of BP members talk about, like mobile home flipping or land flipping. I'm in SoCal as well, and I do both and each require a very low amount to enter and have high returns (and passive  returns as well). 

Sanae yes it is

@Lisa Parker Learn to scrap up income before getting REI. Besides wholesaling, The other ways to get in RE with little money is mobile home investing , land flipping, and buying them creatively.

@Avee-Ashanti Shabazz There is a niche where you do provide affordable housing while still making a good buck. Some people on BP are familiar with it and do it regularly , and that's the ole Lonnie deals with mobiles homes. You sell off $10k to $90k houses with payments (keeping with the Dodd Frank laws of course).

@Ethan Schneider Shame them. Sounds harsh, but I'd rather have friends who tell me the hard truth then conceal things just to make me feel better. It think it's obvious not to rent to him Also, he's not in that bad of a situtation. He has no rent or mortgage and ( I assume no kids). If he's that tired of living with his parents he needs to sack up and find a job that doesn't involve his master's even if it involved cleaning tiolets until he does get a job that he wants

Whats the comparable aparments rents in that area?

I personally wouldn't want to rent them out. But there seems to be some mixed views on it. My mentor @Andyteasley doesn't like to either . 

Reason being is The depreciation , the lower quality tenants. The cost of repairs . 

@Justin Hutchins A lot of parks don't allow subleasing so careful with that. If you want cash flow with this one you'd be doing what's called a Lonnie deal . There's some people that cringe with but there are legal ways to do it . Check out my profile The gist is, you buy it, then find a buyer willing to put some down and payments every money to you for a Max of 10 ( depending on how old it is and the rent). You can make some serious yields with these type of deals