Posted by Phil (MI) on August 09, 2007 at 15:18:27:
Thanks everyone for all the support.
Second Lonnie Deal Done - Posted by Phil (MI)
Posted by Phil (MI) on August 08, 2007 at 24:55:54:
It’s been a while since I’ve posted here but I just thought I would let everyone know I just completed my second Lonnie Deal. It took me about 3 and a half months to sell. A lot of people didn’t have good enough credit to get approved by the park and I had a few people back out after signing a contract. Last Friday morning I finally closed on it though. I had just under $5,000 invested in it including some help with the closing costs that I added into the financing. I got $600 down and $242 per month for 45 months. I’m holding off on finding another deal for a few weeks since I’m moving to go to school at Michigan State. I’ll hopefully find a few parks there that I can work in.
I wish I would have gone to the boot camp over the weekend. I think part of me felt weird going because I thought I would feel weird being so young. Hopefully I can make it next year though.
Re: Second Lonnie Deal Done - Posted by Jerry-WA
Posted by Jerry-WA on August 08, 2007 at 11:26:28:
Good job Phil! Don’t let your age hold you back from attending these events. Though this was my first, I can assure you that this group will welcome and help in any way possible.
Jerry
Re: Second Lonnie Deal Done - Posted by Berno
Posted by Berno on August 08, 2007 at 07:20:38:
Congrats Phil, keep it up!
Attend and you will find out that this event is a true melting pot. Age, sex, race, religion, backround, net worth, where you are from…none of that matters. One of the reasons that this group is the best!
-Berno
Re: Second Lonnie Deal Done - Posted by Ryan (NC)
Posted by Ryan (NC) on August 08, 2007 at 05:25:54:
Phil Congrats on working the system! Don’t let your age become an obstacle to your future, you will find that at these events the people that attend treat the younger folks with a “I only wish I knew what I know now at your age” attitude and then they proceed to try to encourage and help you in any way possible. If you want to see the truth of the matter and get real encouragement from a “young” person look up Britten from IN, I think he’s 20 or 21 now and owns a couple parks and several Lonnie deals… He’s true inspiration of the extreme possibilities of this business!
Find yourself a sweet park near your school and continue building your future while your school friends are working part time jobs for weekend spending money. Think about it this way, MANY of your school friends will be working 20 hours or so a week for
Re: Second Lonnie Deal Done - Posted by Ruben (KCKS)
Posted by Ruben (KCKS) on August 08, 2007 at 06:37:09:
Phil,
I agree with Ryan do not let your age stop you. I for one am impressed that your are investing at your age when I am sure many of your peers are only thinking about what party to attend this weekend.
It would have been nice to have listened to people in my life who advised that I take a more active role in my financial future long before I finally did. The fact you are pursuing both your financial and academic educations is great. I hope to see at a mobile home event here in the near future.
Ruben D. Flores (who is also one of those people who wishes he knew then…)
816 918-9041
Re: Second Lonnie Deal Done - Posted by Ryan B (KS)
Posted by Ryan B (KS) on August 08, 2007 at 10:00:08:
Ha, and Ruben is telling you this at the ripe old age of…what? 30? I’m only 27 myself, but here’s the thing. If I’d have gotten some money together at the age of 18 or 20, I wouldn’t be going to a job every day now.
I’m not going to downplay your problem though. Its hard to fit in when most people doing any kind of investing are quite a bit older than you. And at the same time, your peers probably think that you’re some kind of crazy get-rich-quick schemer (some of my friends think this about me). Even though your other investor friends may be supportive, I understand that its hard to really fit into a group where the next oldest person is like 10 years your elder (particularly when you’re 20 and the next oldest guy is 30).
But I’ve got bad and good news for you. The bad news is that if you get started now, you may NEVER get to a point where you fit in with your peers (other than fellow investors). That’s because in 5 years you’ll be enjoying copious amounts of free time while your peers slave away for a wage. They won’t be able to understand you and how you got so lucky. And when you try to explain how easy it is and that they can do it to, they’ll just change the subject. And it’ll get worse 15 years later when you retire at the age of 45, just when most of your peers will at the “height” of their careers (working like dogs).
The good news is obvious. While you might always be somewhat of a maverick in the eyes of your peers, YOU are the one that is going to be enjoying all that free time. You are the one that’ll get to enjoy extra time with your family, go on vacation when you want, etc.
To me its an easy choice. But I can also see the social consequences that come with choosing to be an entrepreneur. IMO, its easier to live with those social consequences than to live a life of slavery to the wage.
Ryan B (KS)
Re: Second Lonnie Deal Done - Posted by Michael(KCMO)
Posted by Michael(KCMO) on August 08, 2007 at 15:41:20:
Ryan,
I couldn’t have said it better myself. An excellent analysis!
Phil . . . just do it! Don’t worry about what anyone else thinks. They’re just jealous they didn’t start at your age anyway!
Michael(KCMO)
P.S.
Ruben is the older of the duo. I’m still the spry 30 year old. 
Re: Second Lonnie Deal Done - Posted by Ruben (KCKS)
Posted by Ruben (KCKS) on August 08, 2007 at 10:59:58:
NT…I wish I was 30 again Ryan but thanks for the compliment