Commercial Real Estate Investment Articles

I know that fear is not from God, but I am walking away from a profession that I have been in now for the last 16 years. About three years ago, I sat at my desk wanting an opportunity to create freedom of time, wealth, happiness and, more importantly, choices in my life. I asked for direction for these things and I was led to real estate investing.

This past February, I found myself “self-unemployed” and two weeks away from not having any income coming in (not good, but I was there). I’ll spare the details of how this happened, but it wasn’t on purpose! I have an awesome wife and two fantastic boys who look to their daddy for food, home, clothes, and Taco Bell money!

Just made my first deal on the purchase of an old “cheapo” mobile home, and it was easier than expected. I drove around about 12 mobile home parks last Saturday looking for signs offering homes for sale and found one that looked interesting. Turns out, it is a 1982 14×60 in a pretty decent park. Owner was asking $5,000 and in the process of evicting a tenant. Looked at it a couple of days later and it was trashed, needing lots of repairs (I figured it would cost about $2,000 to fix up).

I have just purchased my first mobile home on Christmas eve, and I am closing with a buyer on New Years Day! I purchased for $1,000 down and $131 a month for two years, and I am selling for $210 a month for three years after my down payment.

I’ve been pretty quiet lately, really hustling at building my business. I just thought I would drop a line about a recent success I had.

I would like to share a wonderful success story with you. One afternoon while driving in through a mobile home subdivision, I decided to take the flyer from the real estate box on the property. I had noticed this mobile home several times because I had sold three homes in this subdivision and decided to take a closer look at this one.

Reading all of these success stories has me jealous so I figured it was my turn. In ’89 I purchased the Carleton Sheets No Down Payment course and did NOTHING WITH IT. Then, in ’94 I bought the course AGAIN to get the updated info.

When my wife and I first started our real estate investing career a year and a half ago doing “Lonnie deals,” we never thought so much could happen in such a short period. Because of all we have learned here on the website, the Main Forum, and especially the seminars that CRE Online and its affiliates put on, we have shaved years off our learning curve.

I just wanted to send you an email on a recent success I had. I was trying to purchase a home that was up for estate sale. After inspecting the house, I decided I could pay up to $35,000 for the house. So I decided I would offer $30,000, since it was only on the market for an hour and they where asking $45,000.

I was a wannabe real estate investor for several years, watching from the sidelines. I finally got the nerve to go out and test the market after many hours of studying and reading. The information and encouragement at CRE Online has been invaluable.

On a Thursday, I looked in the paper under “investment property.” The ad read: “Great income potential, 3-4 family apartment $18,500, needs work.” So I called the number and went to look at it. The apartment did need some work. I went home, punched some numbers, and saw that I could make a lot of money on the rentals (two 2 bedrooms and one 1 bedroom).

I have owned rental property for twelve years now. Just collecting rents and doing what “investors” have done forever: Letting my tenants pay my mortgages and build my equity.

I am not sure if you would consider this for your “Success Stories” or not but, if nothing else, I wanted to write it as a “thank you” to you and all the inspiration that I have seen on this site. I have been silent for the most part for the past two years or so, but I read all the messages on the at least every other day. I have asked a few questions, and have always learned from the answers.

Several weeks ago, JP Vaughan entered the chat room, and I promised her that I’d write a when I did my first deal. And so, I’m going to write about my deal that I did last week. The numbers wouldn’t astound you. But it’s not the numbers that count. I’m writing the kind of success story that I wish I’d seen earlier.

It has now been two months since we moved. However, unlike the rest of our friends, we are now getting PAID to live in our house! We moved into a triplex and keep the other two units rented out. The rental income pays for the mortgage and taxes and puts a bit aside for upkeep. Every month we get our checks for $1,400 and all we have to do is pay our own utilities. (Tenants also pay their own.)

If you haven’t read my first story, then you don’t know that I’m brand new at this stuff. You do now. My friends haven’t figured out whether I’m a budding genius or a blooming idiot. I lean towards the former, naturally, but most think the latter is closer to home.

I am about to close on my third “Lonnie Deal” and my yields are improving significantly. My partner and I purchased a 3BR/2 BA, 1983 mobile home in fair condition for $1,400 cash and the two lots for $16,000 with $2,000 down and owner financing for the balance at 7% and payments of $200/month.

I’m a part-time real estate investor. I frequently read the success stories on CRE Online to gain knowledge and for the motivation it provides to me.

On a Thursday, I looked in the paper under “investment property.” The ad read: “Great income potential, 3-4 family apartment $18,500, needs work.” So I called the number and went to look at it. The apartment did need some work. I went home, punched some numbers, and saw that I could make a lot of money on the rentals (two 2 bedrooms and one 1 bedroom).

I am not a big fan of so-called creative financing only because it requires so much work and a lot of risk. However, creative financing can work, though I have never done a “no money down” deal.

Please accept a heartfelt “thank you” for this awesome site. I sincerely believe it is the extra encouraging push I sorely needed to do my first deal. I first became interested in creative real estate investing a little over a year ago when I ordered the Carleton Sheets course.

The broker’s assessment of their value was $60K and $110K respectively. The asking price had just been reduced from $165K to $155K. I thought a deal could be had (since it had been on the market for five months and one was vacant), so I offered $122K.

This past May, I purchased Deals on Wheels from this site. When it arrived I read it all at once. After reading the book, I decided to refinance two of my rental condos and use the cash to buy some mobile homes.

I still consider myself a “newbie” in the real estate investing world. I often hear the “gurus” say to find a technique and perfect it before moving on to a new one; that will keep you from trying to do too many things at once. It seems like the deals that come my way, though, each require a different approach.

Just sold my first investment property for $37,000 net profit. Man, I’m fired up about this business. Here’s how it went down