Trailer differences

Trailer differences   I’ve had a lot of calls this week about mobile homes. Mostly, the conversations centered around the differences between trailers and stick-built homes in rehabs. So, I’d like to highlight a few of the major differences you need to be aware of should you decide to purchase a mobile home.   To me, mobile homes are very interesting. I used to watch this show called “How It’s…

Face to face

Face to face     Monday morning was super busy for me. You see, we had a closing where we were purchasing a double wide on it’s on land, and I needed to prepare closing docs, get a cashier’s check for that closing and also attend to my normal Monday morning commitments.   Due to labor shortages, my bank’s local branch had its lobby closed. As such, I had to…

Why you need a bill of sale at closing

Why you need a bill of sale at closing   We recently bought a land home deal, which is a mobile home being sold with land. We call it a land home deal because you can buy just the trailer and not the land. This takes place in a mobile community or somewhere else where you own the home but rent the lot it sits on.   Buying a mobile…

Is cash king?

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…

A different, but permanent fix

A different, but permanent fix   I recently walked into the Gordon County Tax Assessor’s office and approached the desk where I was promptly greeted by one of the assessors who asked, “How can I help you?” I told him that I was about to knock his socks off. He leaned slightly forward with a semi- concerned look, no doubt preparing for a disgruntled taxpayer, and asked, “How’s that?” I…

Choosing the right agent

Choosing the right agent   Choosing the right real estate agent is something that’s important when buying — and especially when selling — real estate. This is because agents aren’t one-size-fits-all for every deal. And finding out what an agent is good at, and where they are located will help you determine whether or not you should hire them.   Let me explain.     Not all agents work in…

Is this the new normal?

Is this the new normal?   I was talking with a buddy of mine this week about how to evaluate the returns on rental property using the financial calculator. I’d like to share with you what we did.   Before we get started, if you haven’t had your morning cup of coffee, put me down and go get. This column is going to be numbers-heavy and will require an acute…

I almost missed it

I almost missed it   It was about 10:30 on Saturday night. We had just put the kids down, and Ashley and I were preparing for bed. At this point, my beautiful bride was considered full term in her pregnancy at 38 weeks. She lay down in the bed only to pop right back up with a startled look on her face as she said, “Whoa! I just had a…

Be careful where you get advice

Be careful where you get advice   Ashley and I went to a baby shower this week for some of our good friends Dorsie and Jimmy Kuni. Dorsie was absolutely glowing.   This will be their first, and as any good friend who already has kids should do, I asked Jimmy if he was excited or just plain scared. He laughed, and we joked about Owen Wilson’s line from “Armageddon”…

Did we buy an alligator?

Did we buy an alligator?   Real estate investors are known for being risk takers. As a matter of fact, most of the time the reason an investor gets into trouble is because they estimated too high on what a property would sale for once they fixed it up.   The outcome for this speculation is that the investor gets too thin with their numbers and overpays for the property….