[Vivian St. Rose]

Vivian St. Rose

Greetings! I’m a new member currently residing in Las Vegas. I’m perusing the CashFlow site for investing strategies that I can comprehend (not too complicated!). I’m somewhat interested in mobile home investing as a starting point. Seeking suggestions for investor groups, seminars, etc. to expose myself to like minded people. that I can learn from/with.
Thanks and best to all.
Viv

[Dee L Graber]

Dee L Graber

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Hello, Vivian. To make any kind of judgment on such a risk, the types of property need to be known (residential, commercial, mobile, whether you live in the potential HELOC property, or receive rental income from it), and how the area of both properties behaved when we went into the last recession a decade ago. How fast and far did property values decline back then? It’s a reasonable assumption that the one we’re heading into this time will likely be a lot worse. Could you potentially get whipsawed between a fixed loan on the first property, versus a possibly unstable revenue stream from the potential acquisition?

And to defend against that possibility, could it make more sense to negotiate a lease on the property to be acquired with an option (but not an obligation) to purchase at a later date? That might be especially valuable if the option price was tied to some local value index so that if property values dropped like a rock, you might benefit from that instead of being stuck with a pre-drop option purchase price.

If either or both of these properties are commercial, institutional lenders often turn vicious in an economic downturn, and may try every dirty trick in the book (including fraud) to pull off a foreclosure in order to bolster their banking reserves. This was all too common a decade ago.

But there’s no point in going into detail without knowing the kinds of both properties, their actual or intended income streams (if any), and your intentions over the long term. With those kinds of basics, the wise old owls here on CFD might have some useful thoughts to hoot about for you.

Best wishes,

–Dee

[Dee L Graber]

Dee L Graber

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Vivian, by accident I posted my reply to you here, instead of over in Creative where you asked your question. I tried deleting here, but the delete didn’t take. So you have my response in both places … all for the same price.

–Dee

[Jackie Lange]

Jackie Lange

HI Vivian

Great to see you on CashFlowDepot!

Mobile home investing is good but I think it would be better to start with wholesaling or master leasing because both of those strategies do NOT require a big financial investment like mobile home investing would. We have training at CashFlowDepot for wholesaling, master leasing and mobile home investing too.

Jackie

[Vivian St. Rose]

Vivian St. Rose

Hi Jackie! Yes I’m exploring those topics too. Ideally I’d like to partner with someone initially in either area during the learning phase until I can get a better grasp/understanding. Can we say confidence?! Hoping for an opportunity to see you again in Panama next year some time!
Best, Viv