Finding Profit in Mobile Homes
The Multiple Listing Service (MLS) does have a category for manufactured housing. It is typically identified as a home type. It is located on private land as opposed to those found in mobile home parks. However, the MLS is not typically where you would look for deals. Others broker mobile homes, including those in parks, […]
Having Options to Own vs. Rent with Mobile Homes
Land and Lots There are situations where the manufactured home remains personal property and is placed on the land. The land is considered real property. In this case, the land appreciates while the manufactured home, technically, depreciates. Although, the actual test for market value is determined by what a buyer is willing to pay. As […]
Fact vs. Fiction with Mobile Home Investing
There are many misconceptions about this type of housing. One of the biggest ones has to do with the house being mobile. While it is true that manufactured homes are delivered via the highway, that is often the only time they are truly mobile. Many manufactured homes never leave the site installed to be relocated […]
Marketing Strategies to Get Results
Motivated Sellers To find motivated sellers, you must first understand what causes their motivation and then consider what signs you may look for that indicate they are distressed and need your help. For example, someone who is facing foreclosure is motivated to find a solution. Signs can be found in the public records where the […]
Creative Finance Strategies Part 2
More Creative Finance Strategies…by Steve Hipple Syndicate mortgage could be considered ‘next level’ investing and combines multiple lenders on one property and mortgage. Syndicate mortgages are powerful and allow lenders with smaller amounts available to join other lenders for the common goal of acquiring an asset. Lenders are typically silent partners, so no control over […]
How Can I Use Creative Financing?
Types of creative financing: Joint venture partnerships Private lending Seller financing Home equity line of credit Hard money loan Lease option Deferred mortgage payments An unsecured line of credit Land contract Blanket/wrap mortgage Self-directed funds Balloon payment Contracts for deeds Syndicate mortgage Interest-only payment Credit cards Are there more? Of course! These are some of […]
Leverage! For Shark Tank Returns
“Give me a place to stand and a lever long enough, and I will move the world.” ~Archimedes Did you realize, people are acquiring no money down properties every day? Do you know anyone else who acquired properties this way? Many world-famous international investors and mutual fund companies accumulate funds and develop properties with those […]
How to “Find the Deal” Within a Pre-Foreclosure Situation
In a pre-foreclosure situation, if you buy the house directly from the homeowner, there are typically two scenarios. The property either has equity or little to no equity. If the property has little to no equity or if more is owed on the property than it’s worth, a short sale would need to be negotiated. […]
SMART Rehab: The finish line is near, don’t cut corners now
Getting to The Finish Line! Is your finish line getting your rehabbed property RENTED or SOLD? If your goal is to RENT your rehabbed property, we recommend hiring a Top Property Management Company. Let them do what they do best. If your goal is to SELL your rehabbed property, we recommend hiring a Top Producing […]
Getting the Right Contractors to Help You with Your Fixer-Upper!
Hiring Your Contractors The hiring and management of contractors are crucial in any rehab project. If you are handy, your instincts might be to save yourself some money using the do-it-yourself (DIY) approach, don’t. Your time is too valuable and is much better spent finding your next real estate investment opportunity. Remember that it is […]
Don’t let the details derail your rehab
Detailed Scope of Work Suppose you’ve purchased a property that requires some level of rehab. In that case, you will need to put together a Detailed Scope of Work to accompany your request for contractor bids. A Detailed Scope of Work lists all the renovations that need to be completed at a property to increase […]
One of my best decisions ever!
Today I had a notification on social media appear. It said “share your memory from 9 years ago” along with a picture of a For Sale By Owner sign featuring Rent To Own. This social media reminder made me think back the properties I have bought and sold, the realtors, negotiations, the classes, financing, mortgage […]
Mentorship and Taking Action!
Many students have a mentor in their program, some have selected their mentor and many have communicated with their mentor for help and advice on properties and strategies. But a common thought with students is they feel they are not ready for a mentorship. Where students often get delayed or tripped-up is they want to […]
Positive conversations with potential Joint Venture Partners
How do you plan to structure your conversation with potential Joint Venture (JV) Partners? How do you get your potential JV wanting to repeat business with you? Have you already had some of these conversations and received the polite “no?” If you’ve ever heard “let me get back to you” or “I’ll think about it”; […]