Posted by SimonBS on May 18, 2001 at 04:49:37:
Hey Merle, your the best. Way to help your Grandson secure financial freedom, and he is ONLY 20yo!!! I wish someone had helped me help myself when I was that young - I’m at the ripe old age of 22 now and just finished my first deal for my personal residence and I’m working on my second for two mobile home rentals.
Encouragement, perhaps … - Posted by Merle E Woolley
Posted by Merle E Woolley on May 14, 2001 at 19:45:26:
We don’t do the mobile home business and have never posted here … but, want to tell you about our grandson who just started.
Brandon is 20 years old. Two weeks ago, he decided he wanted to get into the “house business.” No money, no credit … and didn’t know what a mortgage was.
Told him to read every article on CREO as well as other sites on the list I gave him. When he saw something he thought he could do, let me know and we would discuss it further.
He didn’t go too far when the idea of flipping houses and buying mobile homes surfaced. We talked and told him to read more.
Last week, he bought a mobile home for $3,000 … nothing down, 20 payments of $150, no payments for 2 months. I think he paid too much, but he got started. Ran the ad. Sold the home the first day. $400 down, first two payments in advance. 36 payments of $250. Buyer pays lot rent. He did have to spend about $100 to fix some broken pipes.
Not sure how all that compares to the “pros” in the mobile homes … but loooks to me that he could make $6,000 over the next 3 years if they stay in the home.
So, for all readers who question if this can be done let this be some encouragement for you.
Now, I will say that Brandon is kind of special … very intelligent, handsome, quick … you know what I mean. After all, he’s our grandson.
Have a GREAT day … TODAY!
Merle Woolley