I need your help!!!!! - Posted by mike

Posted by Chuck (AZ) on June 28, 2001 at 17:21:50:

Just for fun, let’s say you could invest $50,000 of your CD money in mobiles. Let’s also say for convenience, that you could buy these mobiles at $2500 each. Using these figures you’d be able to buy 20 mobiles. Now let’s say that you sell the mobiles for $5000 each, and to keep it simple you have no fix-up costs/expenses.

Profit per mobile = $2500.00
$2500.00 x 20 = $50,000.00 (you just broke even and made a $50,000.00 profit).

Total interest paid over the life of the loan would be $978.58
$978.58 x 20 = $19,571.60

The monthly income would be $166.07 for each mobile.
$166.07 x 20 = $3,321.40/month

Ok, now add it up.
$50,000.00 + $19,571.60 = $69,571.60 total return with a positive cash-flow (at the rate) of $3,321.40/mo.

Obviously, if you play with these numbers you’ll get different results, but the effect is the same. Your wife needs a new attitude.

I call it like I see it.

:wink:

I need your help!!! - Posted by mike

Posted by mike on June 28, 2001 at 16:23:11:

I will try to keep this short. I am 51 years old male,
self employed for over 23 years, college graduate,
earn net $130,000 per year, debt free including home.
I have about $100k in bank cd’s. I have read Lonnies books
and would like over time betweeen my business do
Lonnie deals with the $100K. My wife is totally
against it with all the reasons why it will not work
well you know the story. PLEASE DO ME A FAVOR.
If your have been doing these deals for at least six
months will you please E-mail your short story to my
wife Sandra telling her about your business and the
profits to be made. A bonus would be an E mail from
a female around her age 45 and if I am not asking to
much a phone number and she could phone you. All replies
are greatly appreciated.

Mike

Re: I need your help!!! - Posted by Jacque - WA

Posted by Jacque - WA on June 29, 2001 at 21:01:29:

Hi Mike,

I am still in my 30’s, a single mom with a great daughter. When I first started (January 2001) I probably had the same exact opinions and concerns that your wife is expressing.

It is now almost July and 20+ deals later I am absolutely convinced that this works. Not only that but the rate of return on lonnie deals compared to those bank CD’s is almost triple.

I would be happy to talk with your wife. I can be reached at: 360-698-7355.

Jacque

Re: I need your help!!! - Posted by Carey_PA

Posted by Carey_PA on June 29, 2001 at 09:49:21:

Mike,

I’m a 27 yr. old female and I’ve bought and sold 5 mh’s.

Some examples are the first one I bought for $2k CASH and sold for $8,000. I took $1,000 down and I financed the rest at 12.75% for (hmmmmmm I think it was like 2 yrs. or so, I don’t remember he paid me off early :slight_smile:

Another deal that I can remember is that I paid $3k CASH for an older mh (only because it was in GREAT shape and I knew I wouldn’t have a problem selling it) and I sold it 2 months later for $7k CASH. :slight_smile:

I made a profit on EVERY single deal I’ve done. Now, I’m getting into sfh’s but I will continue to buy mh’s because they make for good cashflow and you can get them dirt cheap.

You or your wife can call me if you like.

Good Luck and I hope your wife comes around because you’re definitely passing up some good returns by NOT doing anything!

CAREY
610-518-6763

Do your first deal and… - Posted by RobertR CO

Posted by RobertR CO on June 28, 2001 at 19:40:47:

…have the monthly checks sent and paid directly to your wife. That may have a softening effect.

Cordially, RobertR

Re: I need your help!!! - Posted by Doris - Va.

Posted by Doris - Va. on June 28, 2001 at 18:56:47:

Mike - I am an OLDER than 45 year old woman who wished she had got into this business years ago.

If you want a test deal to prove what can be done, just buy one used mobile home for under $1000. to $3000. Just clean it up (no rehab) and resell as is for $3/4000 to $6/7000 (depending on what you have in it). You should at least double your money plus any holding costs like lot rent and advertising.

If this deal works for you and your wife sees what you have done step by step, she will understand the potential profits.

Actually it is not necessary for you to use much of your own money. Once you get going, the profits will pay for the next deal etc.

Leave the big money where it is and your wife will be more comfortable with your getting into this business. The whole idea is scaring her right now. It is only natural to want to keep what you have. Also it is fear of the unknown.

Order Lonnie’s book “Deals on Wheels” for about $30.00 and read it twice. Ask your wife to read it also. It is large print and a quick read but is packed with great value.

Everyone on this site doing mobile home deals or “Lonnie deal” as we like to call them, follows his methods and swears by them.

Best wishes.

Doris

Re: I need your help!!! - Posted by John SirJohnathon Grounds

Posted by John SirJohnathon Grounds on June 28, 2001 at 18:13:01:

Mike,

I know your pain. :slight_smile: My wife still looks at me with disdain when I tell her I just signed a contract to buy a “nice little place” for $750,000…and by the way, I need to pay cash within 6 months. :slight_smile:

As for “Lonnie Deals”, we have been doing them for a few months. Our company started in 1993 doing homes and apartments, and moved into the MH arena by accident a couple years ago. We ran onto Lonnie’s book, and now do a few deals a month. I would be glad to talk with you/your wife if you would like to call.

John “SirJohnathon” Grounds
www.jrgholdings.com
630-845-1258