MH Investment Goals

[alexmorrow]

You know...there are a lot of times where I stumble upon a great idea at making money. But, when push comes to shove, sometimes I give up. Well, that's going to change starting today. I'm going to write down my goals for MH investing.

1. Buy at least one mh per month. This means by December 2008, I will own 11 mobile homes.

2. Contact all the mobile home dealers in Colorado and build solid relationships with each one.

3. Visit every mobile home park within 150 miles of me and build a relationship with the park manager and/or owner.

4. Work alongside my contractor to learn how to rehab homes (I'm not very handy).

5. Continue writing down my experiences in MH investing whether it be on this site or another. The point is to be accountable and keep track of my progress.

6. Finish my real estate license course and take the exam within 5 months from today.

7. Continue building my friendship with Jim and learn as much as I can from him.

8. Besides looking for deals on Craigslist and in the newspapers, continue driving through parks once a week and/or calling park managers to see if they know of any homes that are for sale or are abandoned.

9. Work on selling myself to park managers and owners to ensure that they see the value in my service.

10. Read at least one book a month on mobile home/note investing.

If you can think of any others, let me know...and I'll add them if I think they apply.

[F3Nelson]

Alex,

My hats off to you, you are a newb to the game of MH investing but I find myself eagerly awaiting your next post.

The idea of having goals is great, how can you hit what you're not aiming at.

GL man!

[Jim Johnson]

You know...there are a lot of times where I stumble upon a great idea at making money. But, when push comes to shove, sometimes I give up. Well, that's going to change starting today. I'm going to write down my goals for MH investing.

1. Buy at least one mh per month. This means by December 2008, I will own 11 mobile homes.

How about... make no mistakes buying any mobile homes. Some months I might buy several... and some months I might buy none... but I will make no mistakes.

2. Contact all the mobile home dealers in Colorado and build solid relationships with each one.

OK... now tell me why your doing this? What does getting to know the dealers bring to the table for you?

3. Visit every mobile home park within 150 miles of me and build a relationship with the park manager and/or owner.

Do you need to know that many parks? Lets think about this... how many really good friends do you have/need? A couple of good parks will give you huge amounts of business...

4. Work alongside my contractor to learn how to rehab homes (I'm not very handy).

Great goal... very important...

5. Continue writing down my experiences in MH investing whether it be on this site or another. The point is to be accountable and keep track of my progress.

Great goal... will you share with those who ask... what if they might be competitor's?

6. Finish my real estate license course and take the exam within 5 months from today.

OK... what will you do with this license? Being a Realtor is just like having a full time Job... but you are interviewing with every person you meet... I do not even tell people I have a License... they might want time to represent them and that not only looks like a job but it has a boss attached!

7. Continue building my friendship with Jim and learn as much as I can from him.

Ahhhhh... I am being soaked...

8. Besides looking for deals on Craigslist and in the newspapers, continue driving through parks once a week and/or calling park managers to see if they know of any homes that are for sale or are abandoned.

I like this...

9. Work on selling myself to park managers and owners to ensure that they see the value in my service.

I like this also...

10. Read at least one book a month on mobile home/note investing.

Good... but do not box yourself in too much... this is a big world and MH and notes is just a little tiny part of investing...

If you can think of any others, let me know...and I'll add them if I think they apply.
I commented in Red... These are all great... I would just ask as you make goals you are certain there is value in the information and application of them...

and only do good deals... ever... doing nothing is better than doing something really bad...

[alexmorrow]

Revised Goals: TAKE 2

1. Buy smart and always buy right.

2. Build a solid relationship with two park managers. Quality not quantity.

3. Besides looking for deals on Craigslist, tax sales, and newspapers, continue driving through Cimarron Mobile Home Park once a week and/or call the park manager to see if he knows of any homes that are/will be for sale or are abandoned.

4. Work alongside my contractor to learn how to rehab homes (I'm not very handy).

5. Continue writing down my experiences in MH investing. The point is to be accountable, keep track of my progress, and allow others to learn from my experiences.

6. Finish my real estate license course and take the exam within 5 months from today. I have no plans to represent anyone (maybe my mom?). I'm getting my real estate license because I want to understand the real estate laws and contracts better.

7. Continue building my friendship with Jim and Steve and learn as much as I can from them.

8. Work on selling myself to park managers and owners to ensure that they see the value in my service.

9. Read at least one book a month on mobile home/note investing.

10. Teach my girlfriend everything I know about mobile home investing so she can help me with my homes while I am on business trips.

[Debbie]

Revised Goals: TAKE 2

10. Teach my girlfriend everything I know about mobile home investing so she can help me with my homes while I am on business trips.

Revised Goals: Take 3

10. Marry my girlfriend so that she can be my partner in crime so that she can help me with our mobile homes while I am on business. This way, everything's legal and on the up and up.


Just sayin'......

[Jim FL]

Revised Goals: Take 3

10. Marry my girlfriend so that she can be my partner in crime so that she can help me with our mobile homes while I am on business. This way, everything's legal and on the up and up.


Just sayin'......


correction, again............better.
Set up business entity, and hire girlfriend as an independent contrator, thru the entity, to handle things while away on business.

just sayin...............:whistling

[alexmorrow]

I already set up a business entity, Morrow Real Estate LLC. She's helping me for free in exchange for my limited knowledge.