Rich Price
Active 6 years, 3 months agoForum Replies Created
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Posts
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After watching some of the Lonnie Scruggs material, It seems to me that buying small “Lonnie Deals” would be a lot of work for a small profit. First you have to find the deal, find a buyer, deal with mobile home park managers and park rules, run credit on potential buyers, etc. You could probably make about 20 times more money with a single family house deal and probably about the same amount of work or even less. That being said, buying mobile home parks might make sense, but I have to learn more about it.
Sorry, part of the post didn’t show up. I am talking about buying property out of probate. Specifically ways to find out about them before everyone else finds out about them. I did find out about 1 possible way to find them by going to estate sales. I’m hearing that some of the best deals can come from probate where the owner may have died and the heirs want to liquidate the estate in a hurry.
Hi Dee- Not only was he talking a mile a minute, but the writing on the screens was too small for me to read. If it wasn’t for the fact that Jackie & Don are highly recommending it, I probably would have passed on it based on the webinar presentation. Also didn’t like the high pressure tactics where if you don’t do it right away, the price could go up. I hate that shit. Nevertheless, I am leaning towards pulling the trigger, but I will do some more research this weekend before I do anything.
Hey Don,
If I can use other marketing methods successfully, I will avoid using bandit signs.
I watched a webinar from investor carrot yesterday. I saw your post about it and thinking about using them. Trevor is a fast talker. Also looks like $1,000 for the package. With all the BS on the internet, I’m skeptical about everything, maybe a little paranoid :). I’m going to do some more research before I jump in.
Like I told Jackie, I’ve done some good sized deals, but nothing to do with the type of deals we are looking at here, so I’m somewhat of a newbie. I made a lot of money on a C3 land deal in San Antonio, a preconstruction deal on a luxury oceanfront condo in Hallandale Beach FL, and a single family house in Port St. Lucie FL. These deals were simply buy low, sell high when the market was trending. I also got hammered on a couple of deals when the market crashed around 2007-2008.Jackie-thanks for the quick response. I hear what you’re saying about a possible market crash. I might be willing to take that risk, but you make a good point and you’ve got me thinking. I’ve done some pretty good deals in my time, but do not have the detailed knowledge you have, especially when it comes to these type of deals. I live in San Antono TX. Back about 10 years ago, I bought 7 acres of C3 land on a main Hwy. (Loop 1604) in partnership with 2 other business associates. We paid $3/sq. foot, To make a long story short, I netted $250,000 in about a year and a half. Also bought a pre construction oceanfront luxury condo in Hallandale Beach Fl. for a $90k profit, and another property in Port St. Lucie and netted around 30K.
When the market crashed around 2007, I got murdered on a couple of other deals in Florida.
The first house I bought in the late 70s in Laguna Beach CA, I bought on a lease option for $123,000. I had to sell it, made a little profit, Unfortunately I couldn’t hold on to it, that house is worth around 2 million :(. Most of those deals I did were simply buy low sell high, didn’t take a whole lot of rocket science.
I will sign up for the premium membership later today.
