Is cash king? I will never forget the first deal Ashley and I had ever done that was severely damaged by fire. The year was 2011, and the deal, which we call the burnout, was a 1992 single wide located in a mobile community in Dalton, Georgia. That house was the third deal Ashley and I had ever done. A burnout on our third deal sounds pretty gutsy…
Oh B-1 can no beat. That title was supposed to sound like the Star Wars character Obi-Wan Kenobi. Yeah I know it’s a stretch, but bear with me. The reason I chose that title is because B-1 is the lot number of a Lonnie Deal we have down in Acworth. And I want to tell you about it because, to reference Star Wars again, “the force is strong…
Today is a bittersweet day. We had a Lonnie Deal payoff for the very first time in over six years. It’s bitter because we just lost the $275 income stream this deal was paying us and now we have to go out and replace that money. It’s sweet because I just got a text from my good friend named Mike Hicks. Mike’s a smart investor up in the Rossville…
Lonnie Deals are financial boomerangs: I want to tell you about one of my favorite deal structures: the Lonnie Deal. That’s when an investor buys a mobile home on a rented lot for cash and resells it, offering owner financing to the buyer. The reason I love them so much is they fit into any investor’s portfolio at any experience level. They work especially well for beginning investors….
Park manager are the key to Lonnie Deals: I am a huge fan of mobile homes. Dollar for dollar, I see no other investment that compares to the great returns you can achieve with these properties. Returns typically run from 33 to 120 percent… or more. Did that get your attention? If it didn’t, let me explain. Anytime you hear the words “return” or “yield” and see…
This is a Question and Answer session I had with the Calhoun Times Editor Brandi Owczarz about what we are seeing in the rental market. It ran in the paper a few weeks back and a friend asked me to post it to the blog. So here you go. Q. What rental “trends” are you seeing right now in NW Georgia…are you seeing that 3/2 homes are popular? Are…
A friend recently told me about a company with a cool concept. They catch phrase is, “turn worthless dollars into gold”. “Worthless dollars” makes reference to the U.S. dollar no longer being backed by gold. The company allows its customers to buy gold one gram at a time for $60. This makes the concept of owning gold attainable for the masses. As I am writing this, gold is running…
What is the difference between an asset and a liability. It is simple. Assets put money in your pocket. Liabilities take money out of your pocket. Are houses assets or liabilities? The answer is they can be both. Here is an example of the same house being an asset to one person, but a liability to another.