MH investing

[F3Nelson]

I gotta be honest I have read about this before but shrugged it off. That is untill I was reading Jim's posts, and researching Lonnie Scruggs on the internet.
After reading some of the GOTC stories I as startng to get excited.

The problem I have is that it seems tooooooo good to be true. Jim is it really as easy as Lonnie makes it seem! :SM083:

[Jim Johnson]

I gotta be honest I have read about this before but shrugged it off. That is untill I was reading Jim's posts, and researching Lonnie Scruggs on the internet.
After reading some of the GOTC stories I as startng to get excited.

The problem I have is that it seems tooooooo good to be true. Jim is it really as easy as Lonnie makes it seem! :SM083:

Here is the skinny on this one... as with most things anything you do really well comes easy... so I am a bad one to ask... it is really easy for me... most people do not have the entire set of skills it takes to do this really well... as I see them here are the aspects you need to have nailed down,

must know how to purchase a home right
must know how to evaluate repairs on the spot- or you will miss the home
must be really good with the managers
must be really good with regionals and owners
must be really good with the sellers and buyers
must be good at accounting
must know how to manage the fix up crews
must know how to collect when people are late
must know how to turn the home when it goes bad
and you better be really good at selling the homes

I can buy homes with spot cash most of the time... unless I have bought one already that day. 1/4 of my homes sell in the first week of having them, I carry 1/4 of them for about a month... the rest sell in the 7 to 30 day range. I can flip 6 houses a month without putting in a 20 hour week... I know investors that flip one at a time and put in 20 hour weeks...

So in the beginning... things will go slow... and with the honing of your skills things will speed up... after a bit they will be automatic... I am in the very automatic mode...

[alexmorrow]

Believe me, I was a skeptic at first. However, after spending a day with Jim, I'm in full-throttle mode now to start investing in manufactured homes. By the way, I found two of Lonnie Scrugg's books online at a website called scribd.com. Just search Lonnie Scruggs.