Can someone define wobbly boxes?
Sure can…that is a southern expression for mobile homes…seek out the teachings of Jimmy Napier’s Advanced Paper Course or Lonnie Scruggs teachings on Deals on Wheels…or you can read my book on the topic, ™DEBT FOR PROFIT© Be the Bank! A simple roadmap to wealth By: Robert-Wayne: Chassner©
They might wobble in a storm, but the money one can earn and profit by investing in wobbly boxes is beyond the conventional wisdom’s understanding.
The idea basically would be to buy an inexpensive mobile home (even if in need of repairs) at a deep discount for cash; then mark it up to full retail and sell it with private owner financing. My typical transaction looks like this (and please don’t say it cannot be done, as I’ve done hundreds of these)…buy at $3000 cash, sell for terms at $500 down and $200/month for 5 years…you don’t need a financial calculator or much intellect to see that leaving $2500 in a transaction (secured by the title through DMV) with a $2400/year cash flow…that is nearly 100% yield on your money/time/education/efforts/paperwork.
You can do this with cheap cars, trailers, green houses, sheds, cemetery plots, used hospital equipment, business equipment, and the list keeps getting bigger.
If you have an interest, you can request a free copy of my e-book ™DEBT FOR PROFIT© via email, or go to my YouTube Channel as I share these practical investment strategies that I employ at: https://www.youtube.com/playlist?list=PLZpDBtFrWw_DKGt3EEeZBu9ELXAlukQnc
It is free…hard to beat that price!
Hope this helps.
Rob
This is what I plan to focus on doing
Good idea…I’ve been doing this successfully since 1991…it works in any economic trend…there are always going to be an unlimited number of mobile homes (cheap) where someone needs to sell at a huge discount for cash…and there are always going to be an unlimited number of families who need a place to live but do not have credentials to get financed.
It is a market that never ends or fails.
Hope this helps.
Rob
Rob I am reading into mobile home investing.
My issue is long term financial hardship. Have you ever been broke? I live day to day. Today I have four dollars in my wallet. It makes my head hurt. It makes me feel financially paralyzed. And I also have time poverty trying to do everything on my own with no family and no solid real estate colleagues yet. The financial stress has perstisted so long in so many compartments of my life it is giving me health problems.
Sounds like your letting your past dictate your future…stop it!
Act ‘as if’ you have the ability to complete a transaction…nobody wants to do business [buyers, sellers, or investors] with someone whose head is hurting from being broke…make a solid offer and use a $1.00 to bind the deal and give yourself 30 days or whatever time needed to close. Then advertise for a buyer at higher terms and get a binding agreement with as much deposit as you can negotiate. Then get an investor to buy the funding of the deal…after all…there are some $7 Trillion in assets sitting in IRA’s and Pensions where one can write a check to buy your note or mortgage.
Do a simultaneous closing and walk away with your profit.
Be the solution!!! Act as if you can until you actually do the transaction…if you ask enought times, someone will say yes.
Hope this helps.
Rob
Let’s say you contract to buy a mobile home (or other product) for a cash price and then re-sell it on terms of $500 down and $200/month for 5 years (60 monthly payments) secured by the title and registered through DMV…do this on a contract to close in X number of days.
In the meantime, start asking people 'how much of your IRA money is earning under 18%…when they answer ‘all of it’ then present this note that you will have … 60 payments of $200 ($12,000) secured by title, and you are selling it at a discount to yield 18%.
They write you a check from their IRA for $7876.05, you fund the deal (these usually cost me around $3k cash) and you finish your paperwork, assign the note, and keep the change.
I’ve done this hundreds of times…works well.
Hope this helps.
RC
Boxes that won’t stay put.
Great explanation. I was also confused with this concept.
Thanks for sharing the information.