Posted by RickSanDiego on March 15, 2004 at 16:24:45:
Greg,
Thank you very much for your thoughts!!
Best wishes
Land/Home deals in So Cal - Posted by RickSanDiego
Posted by RickSanDiego on March 14, 2004 at 13:31:16:
Hey everyone,
Great site for investing info. I have been lurking a bit and really enjoyed the informative posts. Sounds like the Land/Home option is really working well for the more seasoned investors here. I have an interest in this type of investment, but the So Cal area numbers seem to be much higher. Has anyone done such deals here? I have done a search on Ca and not seen to much about this.
Also, Bruce Norris a local guru, is offering a weekend seminar soon on using new mobils on land. The Norris group will cover the financining with hard money interest only loans if we find the land. He has 10 or so going in the Antelope Valley area. Here is the link for his seminar http://www.thenorrisgroup.com/form/
What do some of you more experienced investors think of that idea. Bruce is well respected in the So Cal area. Doc, Greg, Tony and any others??? What do you think?
I am just trying to get a feel for the market and see what direction to move. Pure Lonnie deals in San Diego need extra zeros added on to them 
Thanks everyone for your input!!!
I like the idea of doing a L/H… - Posted by Greg Meade
Posted by Greg Meade on March 14, 2004 at 19:58:23:
in a reasonable area of CA. I hate the idea of paying hard-earned money to learn how to do something I can learn on my own. I know that CA is a VERY regulated state…so is FL.If you check the Archives there is a great post from Doc about the areas of the state that modified Lonnies will work and L/H also I believe.
I have always thought that adding zeros is a good thing when selling…not so good when buying.LOL bottom line is it must make sense. If I could put the package together for 65k and sell for 139k i would do so and repeat.On the repeat i would do two…one for sale (to do another 2) one for a long term income stream (the rental or contract sale option would be to your preference).
There are tons of folks moving to CA…FL as well, and at least a portion of them will need low(er)cost housing and owner financing. Seems a perfect match.
I’m a Texan (living in FL) and we are stubborn folks…I would spend a day or two at County zoning, health, building, etc. and see if I could fig out permits, requirements, etc. on my own. Maybe put an ad in the paper and jv one to learn the ropes…I would also be VERY careful…adding a zero can make this a big loser if all the dd isn’t done.
Good Luck,Greg