Posted by Denise on September 11, 2006 at 17:03:52:
Okay, so, I’ve read the books and think wow, this is a great opportunity to create good cash flow at some great returns. Then I start looking for opportunities. I live in Santa Cruz and have a second home in Phx (Gilbert). My dream is to relocate permantly to the Phx area and make a living buying and selling mobile homes/notes.
A little about my background. I’ve been working in corporate real estate for 10 years. I’m a CCIM. I’m a new (and did I say so proud) mama of a baby boy, Michael - 10 mos old. I would love to give up the rat race and make a go of this. Obviously from reading Lonnie’s books, the numbers and philosophy make so much sense it’s like an aha moment. Anyway, I’ve started doing the research and from what I can tell, there are no opportunities in the 2 - 4k range. Try 80K+. So my question and desire is:
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Am I doing something wrong? Are the units out there and I’m ignorant of the process?
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If not, how do you make a go of it in this business if you have $100k in capital, i.e., if you can only purchase a home for 60-80k cash, then the cash flow and future investment opps are just not there. What am I missing? Is there a better opportunity outside the Phx metro area?
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Who wants to join me in an investment club for this type of investing in the Phx metro area? As mentioned above, I own a property in Gilbert, near Queen Queek (Power and Riggs) and would love the opportunity to work together with other like minding souls. I’m willing to help others on the financial analysis side for educational support to bring me up to speed. There must be a way to make some money together…
I appreciate this board and welcome your responses.
Best regards,
Denise