Commercial Real Estate Investment Articles

In less than ten days, I sold two of my three mobile homes for cash. For the first one, I made a purchase agreement with the seller for $1,000 on the condition that I give him ten weeks to wait for a place to open up in senior housing. I started advertising it for $4,000 cash and making a buyers list.

This is for all of you lurking on this site. This is a “get off the couch” (GOTC) story for you all. Success Stories like this one got me off the couch, and I hope my story will help you.

I hope my little taste of success will help other people get going on their real estate investing career. I was like most of the CRE Online visitors. I slaved over the >articles, success stories, and message boards over and over until I practically memorized them. I took notes and typed up pages of tips, strategies, other wisdom from the pros on the site.

Anyone can do this with just a little “want.” I am a full-time real estate investor. In all honesty, against what everyone told me NOT to do I did anyway. And this is where i am now.

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.

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 just wanted to share my success story with you. I purchased Deals on Wheels by Lonnie Scruggs about four months ago. I knew right from the start that this was going to be my kind of business. I started telling everyone I knew about what I was doing and that if they found any deals for me, I would give them a commission.

When I heard about some apartments for sale in July, I almost walked away from them. For my first deal, I was looking for a two-bedroom/one-bath or a three-bedroom/two-bathroom home, something “easy” for a first-time deal and a novice investor. But I drove by and saw that they were two fourplexes, not a large apartment complex.

I don’t know about you guys, but this year has been one amazing year! I started investing in real estate full time around this time two years ago, and I was struggling somewhat until November 2004.

I’ve read so manySuccess Stories on this site. Thank God for it! I stumbled onto Creative Real Estate Online at least five years ago but never believed I could do those deals. I worked at a major airline for a living. After the terrorist attacks, along with thousands of employees, I lost my job.

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

After a couple years of half-hearted attempts at real estate investing, I finally closed my first deal! The first year was spent mostly learning: courses, Creative Real Estate Online, and some one-on-one training.

I got a call from a guy yesterday who got my name from the local mobile home parts supplier. They mentioned that I buy used mobile homes, and this guy had just bought a new home and was selling his old one. He wanted to make sure he wouldn’t have to pay lot rent on top of his new home payment.

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 partner and I formed D & B Assets, LLC to combine our thirty-six years of knowledge of landlording in order to buy distressed houses, fix them, and carry a more hassle-free income stream. Craving more knowledge, we discovered Creative Real Estate Online and decided to invest in further education by attending the annual convention.

I began investing in rental properties in the summer of 1996. I was very involved in CRE Online and chat room at that time. I attended the CRE Online Convention back then in Las Vegas. It was wonderful.

I am very excited to submit our very first real estate investing success story. After raising three children and owning a house of our own, we became heavily in debt from our money mismanagement and ignorance of how to achieve financial stability–to say nothing of abundance creation.

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.

Just thought that I would share my success story with everybody, since previous success stories have offered me so much inspiration. I am 24 years old and have FINALLY broken into real estate investing. After several years of busting my hump, trying to sell real estate as an agent, I decided to take the long awaited leap and invest myself.

I wanted to share my first deal with you to keep you encouraged. I have read the CRE Online Success Stories, read books, and attended meetings and seminars. The techniques that you read about on this website and others work if YOU work them.

Our first real “investor deal” was a comedy of errors–that worked! I called a Realtor friend and told her I wanted to get into “flips.” She said, as a matter of fact, she knew of a distressed owner who was ready to commit financial suicide with an investor who was going to steal her house at 1:00pm. Could I come over by 11:00am to view the property.

Well, I finally got my first deal done. I did a lot of things wrong, but I learned a lot, and it ended up “good nuff” (as Lonnie Scruggs would say). I paid too much ($3,500 for a 1983 2/1, 14 x 56), put too much money and work into it ($900), and took too little down and payments too small ($500 down, $175 month).

Nothing motivates a seller like a property that has been on the market a long time. I’d been watching the ads and saw an old office building that was originally listed for $65,000. The property seemed inexpensive for what it offered, so I created a file and added it to my properties to watch.

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.

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.