Commercial Real Estate Investment Articles

Just a typical 120% yield “Lonnie” deal. I bought a nice 1995 two-bedroom, two-bathroom 14×70 in our favorite park for $4,500. I closed on it at 10:00am. Before 11:00am, I had it sold for $13,000 to a good buyer. She put $1,500 down and will make 48 payments of $302.84 on the $11,500 note.

I don’t know if this is a typical “success story.” If it is, the success is only a result of lessons learned. I just finished my first deal. I bought a rehabbed property from another investor. Prior to the purchase, I had an inspector do a thorough review of the house. His review said there were some minor issues, but that the house was acceptable, and as a result, I made the purchase.

So what is the lease option market about? Well, I don’t know everything, but I can tell you that it works! I found a seller who was marketing his gorgeous $1.3 million house for $1.2 million. He was not able to sell if after three months and was making payments on a vacant house.

I attended the Ohio REIA Conference in Fall 2003. I saw Lonnie Scruggs speak about mobile homes. I didn’t buy his books at that time, but realized that their was a potential investing in mobile homes. After I got home from the conference. I opened up the newspaper to look for houses for sale. I decided to look at the mobile home section while I was looking.

Like so many others, I was inspired when I read, Rich Dad, Poor Dad by Robert Kiyosaki in the spring of 2004. I immediately began to search out more educational materials on real estate investing and came across Creative Real Estate Online.

My neighbors came by to tell me they were getting a divorce. Being a sensitive person, I asked, “What are you going to do with the house?” They said, “Give it to the bank.” So I said, “If you are giving it away, give it to me.” They said, “Okay.”

I started visiting CRE Online in November 2004. I read it just about daily. I bought both Lonnie Scruggs books (A real heartfelt thanks to Lonnie for writing them) and started driving the speed humps.

I have successfully completed my first transaction. These folks didn’t have good credit. They were one month behind on their land contract and owed around $700 in back taxes. I took my time and did the CMAs and ordered an appraisal of the property.

Just completed my first deal and wanted to share my excitement! I had purchased Lonnie’s books [Deals on Wheels and Making Money with Mobile Homes] about a year ago, read them once, rode the speed bumps a couple of times, and then got “too busy” for this.

I just thought I’d share with you the recent success I’ve had. I started my dreams with buying my first rental in March 2004 with no money down. I took a home equity line of credit and used it for the down payment. I’m leasing my two-unit this week and should clear about $400 to $500 per month net income.

After writing off $39,000 a couple of years ago, I sold an investment property that I purchased for $70,000 with only $1,000 down. The seller let me write my own contract, so I tied up the home for three months with out giving him any payments. I then proceeded to rehab the home, and I had it rented out by the 90th day for $925 per month.

Now that I’ve found Creative Real Estate Online, maybe I can get something done! I have had a slow start to my real estate investing career picking up only two properties in eleven months. I had no idea there were so many methods out there.

My husband and I (both in our late 20’s) started a woodworking business three years ago and owned our own home when we started. We were always interested in investing in real estate, but didn’t have a penny to pinch the first year in business.

Before I share the details, I just want to point out that sometimes a success story leaves out that which was not successful and leaves you with what appears to be a very straightforward, simplistic view of what went into creating this happy ending.

The prices of mobile homes in Riverside County, California are ranging from $20,000 on up, so I haven’t done any deals in parks lately; instead I’ve been doing land/home deals. Before Christmas, I was with my daughter buying some equestrian stuff. We had some time, and I decided to go through this park I knew nearby, just for kicks.

I made $6,000 for two hours of work, and I am set to close on $130,000 worth of property so far this month for July! I have been reading and participating in discussions on the Real Estate Main News Group for about four years now. I have had several small successes in that time, but I believe in the last two months, I have really started to come into my full potential.

Here’s my success story. The story began when I read Robert Kiyosaki’s book, Rich Dad Poor Dad, five years ago, and it ended three weeks ago with my first “easy” deal. (Oh yeah, and dozens of hours pouring over CRE Online Main Real Estate Forum posts.)

My husband and I arrived in America in 1995. We traveled for the first three years and settled down in Pennsylvania seven years ago. At that time we came across an ad for a real estate seminar where a “millionaire guru promises to show you how to make millions in real estate without any money.”

Owning a mobile home park has many benefits, but one of the best is having a direct line to tenants looking to sell their mobile homes.

I live in Central Tennessee and not in a metropolitan city. In the past six months, my wife and I have helped three different people who were in pre-foreclosure avoid foreclosure, deficiency judgments, garnishments, and bankruptcy. In the process, we have made $20,000 and used less than $25 out of pocket to close.

After attending Tony Colella’s mobile home boot camp in September 2005 we started looking for properties to expand our Lonnie Deal portfolio

After renovating and flipping several multi-units, I was wondering what my next step in real estate investing would be. I had never given the mobile home market much thought, even after reading all the >mobile home articles and success stories written here on Creative Real Estate Online.

My wife and I were married in the late 1970s and have moved locally a couple of times since then. Each time we sold our present home, we always seemed to come out very well financially. So I figured that if we could make money on real estate without even trying, we might be able to make some extra income investing in property that was not our primary residence.

I just wanted to share my success story with everyone out there because I believe that with the help of Creative Real Estate Online, I am on the way to establishing a financial security that I never would have done without the help I have received from this forum.

I’ve been promising to write my story for a few months. I’ve been on the message boards as Mike (Seattle WA) for a while, so now it’s time to give back more. I started coming to this site just over a year ago. After a week or so of absorbing information, I decided that this was for me.