Posted by Sailor on May 02, 2009 at 11:48:21:
Never lose sight of the CA$Hflow, & your 2k can reap you riches. I bought a MH for 1k & sold it for $17,995 w/7k down. I used some of the dp to cover moving the home to my own park, & have been receiving $400 mo. for 3 years (& 3 to go). Even when it is paid off I’ll get $200 mo. for the dirt. If the home isn’t paid off, I get it back & can sell it again. Appreciation? None, but who needs it?
Note that however good the returns, you can’t support yourself w/the income from a 2k investment. But this is your empire-building $$$. Keep it going & reinvest your profits. I’ve bought MHs as low as $250, & the rents for those puppies range from $360-$495 each & every month. My newer homes & those w/their own separate land bring in rents from $625-$650 monthly. How many of those income streams do you need to set yourself up for life?
Let me not kid you that this is easy. Folks who invest in MHs do lots, if not all, their own work & some of it is pretty nasty. However, by developing those skills they are not dependent on others. If it breaks, we can fix it & keep on collecting our monthly rents. If this interests you, read ALL of the Archives on the MH forum on this site.
CDs? I dunno, 'cause I don’t use them anymore. You can get good returns doing HMLs, but you’re not ready for those yet–
Tye
$2000. itching to invest - Posted by Jonathan Napper
Posted by Jonathan Napper on May 01, 2009 at 06:29:06:
Does anyone know of some ways i can invest $2000 dollars in the real estate industry? OR any other way? Thanks!
Re: $2000. itching to invest - Posted by Edwin
Posted by Edwin on May 07, 2009 at 01:13:31:
Here’s an idea. In 1994 I spent about $450 on a mass-mailing through Val-Pak in which 10,000 “I buy Houses” leaflets were distributed. It was a gamble,and I was nervous about possibly just wasting that $450. But I ended up buying a little house as a result, and still own it. Through the years I’ve gotten at least $15,000 cash and equity of about $150,000. You could try the same thing for probably $800 or less.
Re: $2000. itching to invest - Posted by Real Estate Maestro
Posted by Real Estate Maestro on May 03, 2009 at 18:17:34:
I agree with John, I have done 60 or so mobile home deals from 2001 to 2002 and a half. Never paid more than $500.00 Don’t safe it, invest it. Deals on Wheels is an excellent resource.
Re: $2000. itching to invest - Posted by Jonathan Napper
Posted by Jonathan Napper on May 02, 2009 at 08:05:14:
I have read idiots guide to commercial RE but i am really trying to figure out is : Is there return potential with only $2000? What kind of investment are there besided CDs, MMA, …etc. Do you mean going through the Lendingclub.com? Anyone have experience with this website? Rick, Sailor, John, DJ- thanks guys for the advice.
Before you scratch that itch… - Posted by Rick, the Probate Guy
Posted by Rick, the Probate Guy on May 01, 2009 at 16:24:45:
The other posts are all excellent. However, if I were you, I’d set aside about half the money for good real estate books (you can wait for the training seminar until later).
Several loyal posters have provided their excellent lists of preferred reading material. I suggest that you search the archives for those posts and print out the lists of recommended reading.
You can invest in whatever you want, learn to use options, make loans, get fancy, etc. but the best investment will always be in yourself.
Stay teachable!
Re: $2000. itching to invest - Posted by Sailor
Posted by Sailor on May 01, 2009 at 09:43:17:
John’s recommendation is excellent. For several years I have only invested in MHs & I get a lot of bang for my buck$. There is an excellent MH forum on this site, which I recommend to all RE investors. There is a MH Boot Camp offered by Tony, the moderator, & his partner, Scott, once a year in Asheville NC that is a real bargain. Folks go back year after year, not only for the info, but for the prime networking.
Absolutely every investor should read Lonnie Scruggs’ book, & my personal fave is his most recent one, “Taking the Mystery Out of Money.” Oh my, what a bargain! All Lonnie’s books are available on this site, & they should be read & re-read regularly.
Tye
Tin Cans - Posted by John Merchant
Posted by John Merchant on May 01, 2009 at 08:34:41:
Suggest you start looking through close-by MH parks and see what you might find in cheap little mobile home that you might buy, clean up and resell for less than $2k of your own money.
And if you haven’t already got it, Lonnie Scruggs’ “Deals on Wheels” is the MH investors’ how-to bible on the subject.
Re: $2000. itching to invest - Posted by DJ-nyc
Posted by DJ-nyc on May 01, 2009 at 07:44:24:
Yes, put the 2k in the bank and work on saving more and more as you read the WEALTH of information on this website. Read the book “The Richest Man in Babylon” by George S. Clason.
Cost = $2.99 on www.amazon.com
Good luck,
DJ-nyc