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Real Estate Investing - Moving a Mobile Home

Mobile homes are expensive to move.   You need to plan around $3,000 - $4,000 depending upon where you are moving the home.   There is added cost upon distance on moving the home.

Mobile Homes investing is a total new area of real estate investing for me.   As you well see, I have items to learn.   However, my blog is about my daily real estate experiences.   Not all of my experiences are good but I learn to celebrate the success and overcome the challenges on a daily basis.

When your real estate empire grows to over 10 units; you will endure daily challenges.   The key is to have a positive outlook and ask yourself, what is the solution to this issue and fix it.

When this buyer contacted me about the mobile home I enforced the $3,000 moving cost to her on the phone.   I instructed her multiple of times, it would cost around $3,000 to move this mobile home.  The buyer insisted to me she had the money to pay the moving cost of the home.

She worked out a deal with the mover to have her family assist with the labor of preparing to move the home.   As it turned out, all of her help never showed up this morning!!!

Needless to say, this is the last time I allow this situation to occur.   Luckily the moving company was willing to barter with her on keeping the shed and front deck for partial payment of their services.  They negotiated a payment plan between the two of them.

This situation is going to work out because of my business relationships with the company.   However, this was a learning experience on my end and will never occur again with the buyer indicating they will provide their own people to assist with the prep work.

Everyday is a learning experience in the real estate investing world.   Somedays are more stressful than others however at the end of the day its all about building wealth.

Bob Proctor has an excellent program on The Science of Getting Rich

http://www.thesgrprogram.com/products/special/for-friends/dollar-trial?m=49f85564b2e21

cashflow Cindy

Real Estate Investing - Section 8

List Of Most Common Items Found During An Inspection In Need Of Repair

To Qualify For Section 8 Housing

    1.       Smoke detectors without batteries.  They are required in the basement, on each level & within six (6)feet of each bedroom.

2.       Broke windows, including garages, porches and/or basements.

3.       All Clothes dryers must be vented to the outside of the building.

4.       All interior & exterior steps require handrails.  All porches require guardrails.

5.       Missing cover plates for outlets & switches.

6.       Excessive storage of debris or hazardous materials including broken glass, old tires, batteries, boards with nails, and trash in apartments, basements & outside.

7.       Dripping water from faucets, toilets, sinks and bathtubs.

8.       Clogged drains, open sewer pipes, leaking pipes and sump pumps connected to the sanitary sewer.  Look under sinks for leaking water.

9.       Peeling or missing paint and stain or varnish from interior & exterior surfaces.  Finished work must match existing surfaces.

10.   Open holes in the roof overhang.

11.   Storm doors are required, with storm & screen inserts.

12.   Storm windows & screens are required on the entire building and must be in good repair with no holes or tears in the screen.

13.   All doors must be in good working order with knobs & latches present.

14.   Gutters & spouts must be in good repair.

All rental units receiving Housing Assistance are required to have smoke detectors.  We would like to recommend changing the batteries in the smoke detectors whenever your clocks are changed for Daylight Savings Time.  This will assure that the detector is in good operating condition.

Where To Place Detectors

To minimize the risk of fire causing injury, loss of life or loss of property, detectors should be located on every level of a residence including the basement, first floor, second floor, etc…  Smoke detectors must also be placed within six (6) feet of all sleeping areas.

John Dessauer has an awesome Property Management workbook/CD Program for a small fee of $49.00.  John made is money investing in multi-unit investing.  Property Management skills are essential in multi-units or single family houses.  (many investors lose everything because they didn’t take the time to learn proper management techniques to keep their investment running smoothly.)  
 Find Your Life’s Freedom’s! Take Action Now!!

Education is critical to your Real Estate Investing Success! 

cashflow Cindy

Real Estate Investing - Challenge Homework to Earn $100,000 by September 30, 2009

Did you finish your homework assignment from last week?  Yes, I know its a lot of homework however if you follow along with my blog each week all educational real estate assignment are being taught to you in small increments.  Small bits of information are easier to absorb plus retain.  This information provided on my blog will teach you how to start investing in real estate.  For those of more experience you will be able to pick up a pointer or two.

You will gain the most by going out and taking action!

Problem Solving Question:   John offers to buy a median priced home from a motivated seller valued at $250,000 for $200,000.  Comps in the area show recent similar sales at $245,00 to $260,500.  John has been unsuccessful in trying to assign the home for 30 days or $240,000 and now the market is beginning to soften.

How much money will John loose if he sells or assigns his contract for $225,000?  $210,000?  (answer at the end of today’s blog)

1.  Buy low….

2.  Get a good deal….

3.  You make money when you buy….

4.  It’s better to earn a quick nickel…

5.  Don’t ask how much does ask…..

6.  Not until I have a great deal will the $……

7.  The first million is the…..

8.  I am a millionaire who’s money…..

9.  I must do the most…..

10.  I’ll buy it, unless….

11.  I have a focus, my system is….

12.  I shall follow the voice of experience not emotion

Answers are below:

1.  Sell Higher

2.  Give a Good Deal

3.  it (realize your gain/money when you sell it)

4.  Then a slow dime

5.  How much will it make me

6.  Money come (need to find the deal then the money follows the deal)

7.  Toughest (work the hardest; second million is easy)

8.  have not yet been deposited (Millionaire’s way of Thinking)

9.  Product task at any given moment

10.  I change my mind (subject to building inspection or partner)

Properties which always seem to be in demand:

1.  Single family homes or 2-4 unit apartments (everyone needs a place to live)

2.  Homes under the median price range (are affortable to the vast majority)

3.  Properties near employment, good transportation, schools & shopping.

4.  Properties in better areas (clean, well kept and safe - as in don’t need to bring a gun along with you to collect your rent money!)

5.  Properties in good condition (Are able to be fixed up)

Success Blueprint/Homework:

Make tons of offers (you need to feel embarrassed when submitting your offer otherwise your offer is too high!)

Set aside 1 hour a day for your real estate investing.

Always be looking for your next deal (driving around, talking to family friends, tell them you are a real estate investor and your phone will start to ring.

Always have your exit strategy in place when you buy a property.  Never buy a property with only one strategy (what happens if this strategy does not work???  Always have a backup plan!

Get your Real Estate Business Plan together.  (What do you want to accomplish with your investing?)

Take Action;  Apply your knowledge!

Answer to the Problem Solving question above:

John needs to assign this deal and make $1 if need be.  Is he losing money at assigning this property for $1 more than he paid for it?  No, the critical factor here is its better to make a fast buck than a slow nickel.  Don’t hang onto your deals, find a buyer and move it.  Make $5K or $10K.  Assign the deal and find your next one.

Remember:  Success starts in your mind

What are your thoughts today?  Watch Marshal Sylver’s video to change your thoughts….

http://prosperityalliance.com/cindyconradt

cashflow Cindy

Real Estate Investing – As we are finally winding down from the long winter months, its time to pull up our For Rent Signs.  For those of you who are familiar with the cold winters in the Midwest, you know once the sign are in the ground before freezing the sign is staying until the ground thaws.

Anyway, its always interesting attempting to put up For Rent Signs in the middle of winter when the ground is froze.  With Wisconsin having so much snow this last winter I used the huge snow files to my advantage of holding up my For Rent Signs!

I’ve discovered the snow wipes off my phone number on my For Rent Signs.  Today, I am re-writing my phone number so I can place it in front of my last vacant unit.  I had a prospect who wanted to move into the unit however after checking her references out; I denied her. 

Her last landlord, whom I know well, instructed me she was a trouble maker for the other tenants.  She used to live in a apartment building with over 16 units.  She would be living in a side by side duplex.  I also contracted her aunt who had kicked her out of her house.  Her aunt would not give me a good reference for her, her only answer was, Yia, ya, ya, ya …….   Huge Clue! 

You guessed it, Don’t Rent to this person, if you do, you are looking for trouble!

Find Your Life’s Freedom’s! Take Action Now!!

Otherwise, join your local Apartment Association to learn the in’s and out’s of Property Management.  This is an area that you need to learn new skills otherwise your looking into having issues with your investments. 

Find Your Life’s Freedom’s! Take Action Now!!

Real Estate Investing – I purchased my first out of state property last summer.  Let me tell you it was an experience from the starting point to the ending point of renting the single family house.

http://store.sixminutestosuccess.com/?aid=588984

 I made many, many mistakes.  Some of the mistakes that I made I am embarrassed to tell you about.  However, I will since I’ve moved on with my real estate investing and have learned from my mistakes.  As you all well learn from your investing mistakes.

It’s best to fall forward quickly!  As I have and truly understand this saying.

My first mistake:  You guessed it, trusting my Real Estate Agent.  I found out later on and she told me on the phone she was having financial difficulties and marital issues.  All of these items came into play with my purchase of my first out of state property.

From my own experience:  Always follow-up with your contractors and hire a building inspector to take pictures of your rehab in the making.  The building inspector has not ties to your contractor or agent.  This is crucial to your rehab success to verify the contractors are doing what they say they are doing.

Always work on your self development skills in real estate investing; too many negatives from outside world want to be Dream Stealers. 

I start each morning off by listening to Bob Proctor’s Sixminutestosuccess

http://store.sixminutestosuccess.com/?aid=588984

Bob Proctor inspires and motivates me to go after my dreams, goals and aspirations.   Since it takes only six minutes of my time each morning; I retain his teachings throughout the day.   Today I am focused on Three Accomplishments that I am grateful for:  I need to get busy….

Real Estate Investing - Keeping Illegal Activity out of your Rental Property

The crime free Multi-Housing program is a voluntary 3-phased, which is offered to owners and managers of rental property.  These phases include landlord training, security checks of the property, and tenant meetings.

http://serene.ewimultiplestreams.com/index.php?base=featured

The crime free Multi-Housing Program began in 1992 in Mesa Arizona and has spread to over 1400 cities in 40 states and 4 Canadian provinces.  Check your local investing area to see if this program is offered in your area.

Benefits              

A stable, more satisfied tenant base
Increased demand for rental units with a reputation for active management
Lower maintenance and repair cost
Increased Property Values
Improved personal safety for tenants, landlords, and managers
Weekly reports of police contacts at your property

Costs Of  Drug Activity In Rental  Property

Decline in property values, particularly when the activity begins affecting the reputation of the neighborhood
Property damage arising from abuse, retaliation, or neglect; property damage from police raids
Fire resulting from drug manufacturing or growing operations
Civil penalties, including temporary closure of the property or possible property seizure
Loss of rents during the eviction and repair periods
Fear and frustration when dealing with dangerous and threatening tenants
Increases resentment and anger between neighbors and property managers

http://serene.ewimultiplestreams.com/index.php?base=featured

Real Estate Investing- The Turning Point

My sister and I attended a seminar in  Chicago last weekend, “The Turning Point”  The Turning Point is Marshal Sylver’s seminar to get people to turn their lives.  It may be 10% move but none the less your life is turning around. 

http://prosperityalliance.com/cindyconradt  (FREE 2 hour seminar)

Are you familiar with Marshal Sylver?  He is a fascinating person who grow up with 9 brothers and sisters.  Per Marshal Sylver they lived in poverty.  His Mother was gracious all her life and never thought in her mind she needed assistance.  She always turned charity down to instruct them her family was doing fine.  To go ahead and give the charity to another family in need.

Real Estate Investing is all about education and confidence.  Its critical to your success to get educated.  The other part is to Believe in Yourself.

My sister and I attended “The Turning Point” in Chicago and to our amazement.  Everybody in the audience went up on stage and ATE FIRE.  You heard me, Yes, we all ATE FIRE! 

Real Estate Investing is all about choices and strategies:  Marshal Sylver teaches all of these strategies plus Mind Control to keep you moving toward your Real Estate Goals.

Anyway, Marshal Sylver is called the Millionaire Maker!  He understands our concious and unconcious mind.  When you attend his seminars he teaches you How to Turn Your Life Around.  Remove all those negative thoughts inside your head.  Turn the TV off.  Its all NEGATIVE news.

I am giving you a gift to watch the seminar that I paid $2,000 to attend.  Sit back and enjoy its a 2 hour seminar so you may want to block two hours for yourself.  Get the kids to bed, turn OFF the T.V.  and Enjoy yourself!     http://prosperityalliance.com/cindyconradt

Real Estate Investing- SixMinutestoSuccess

 I am a firm believer in investing into ourselves by taking a class on a topic you always wanted to learn or taking more Real Estate Investing Classes.  For those of you who are investing in Real Estate you’re familiar with how many different strategies there are too learn.  You have to keep investing in yourself by real estate seminars or reading real estate books.  The other part people tend to forget about is self development books and programs.  We all can use a bit more confidence and these self development programs keep us strong in our minds.  A weak mind will get you down the wrong path.  We need to keep our minds healthy and strong. 

With the advent of the internet; video education is available all on-line.

What a great way to learn sitting at home on your computer.  The best part is you can listen to the videos whenever you have free time!  You can listen to the videos at 1:00am. If need be.  Each Day Monday-Friday you listen to a video from Bob Proctor.  Yes, you are taking six minutes out of your day to learn and focus on your task for the day.

I discovered Bob Proctor’s SixMinutesToSuccess Video’s.  His videos are motivational and inspirational.  The best part is Bob teachers us in order for us to achieve WE MUST BELIEVE! 

You can apply his teachings to any part of your life be it Real Estate Investing, a better family life or work life.

Go ahead and listen to his video and invest in yourself. 

EARN MONEY WHILE YOU LEARN:  SixMinutestoSuccess is an affiliate Program.  You can earn money by telling your family and friends about his self development video.  Refer 4 people to his SixMinutesToSuccess Program and you get yours FREE!

Real Estate Investing:  Real Estate investing is fun and enjoyable to me.  However, tenants are always interesting.  The last tenants who gave their 30 day noticed had a dog and a cat.  They paid an extra $50.00 each month for their animals.  I always get $25.00 per animal.  Animals cause damage and you need to cover your cost.  Don’t feel bad about charging $25.00 or more per month for animals.  This is a business and the upkeep on the property has to come out of the income.  If you don’t charge for the animals you will once a tenant’s animals do damage to your property. 

I don’t want to deter anybody from Real Estate Investing because I love this business and intend to buy more properties in 2009.  However, we need to share stories with each other to learn what not to do so we can put more money into our pockets.

These 2 girls gave their 30 day noticed and assured me it would be available to show at 4:00pm.  I had a gut instinct so I ran over to look at the apartment prior to my showing.  I was flabbergasted when I walked into the unit.  The unit was in complete disarray!  With a note on the kitchen cupboard stating “The CARPET IS RUINED and needs to be replaced.”

More on Tomorrow’s blog on Real Estate Investing - Tenants:  Please write in your comments.  I would love to hear your thoughts on this situation.