First Lonnie Deal


#1

Guys,

I want to thank you all for the inspiration and advice to conduct my first Lonnie deal.

I couldn’t have done it without Jim and Ellen Brenn. I have been desperately searching for an investment method which makes sense in Florida, and have finally found you guys!! Thanks.

Geoff


#2

Geoff,

Great job!!! That first deal is the hardest one to do. Before you know it you will be knocking out a couple a month. What were the numbers on the deal?

Remember to tell your seller and buyer that you pay a referral fee. I have had a couple of deals where both the buyer and seller were both referrals and I did not have to do any advertising at all to complete a whole deal. Once again great job and I look forward to seeing more posts about your future deals.

Ruben D. Flores

816 918-9041


#3

Ruben,

Thanks for your kind words. This deal was set up for me by the

Brenns. I took over one of their projects since they had left the area. All of my costs including pre-hab, lot rents, insurance, etc. came to $3000.

The home was sold for $9000. $1000 down and $250/month for 40 months. Including interest, however, it was sold on a lease option.

I again want to thank you guys for having this site and making it possible for a new guy to get a deal.

Geoff


#4

All Geoff needed was a little time and encouragement from us to start running with the mobile home business. We had a house given back to us after several years (the 2nd sale for us) that we had made a REALLY good return on over the years. It was, however, in pretty poor condition and we did not have the time to fix it back up again from this far away.

This was truly a win/win situation. The home is a 3 bedroom in a family park, and there were none available in that park. He got it fixed up and sold in record time! Since he had already read DOW a couple of times, he knew what he was doing. He just had to change his line of thinking from SFH to mobiles. We were willingly on the other end of the phone line for him to call with any questions.

I encourage everyone to help someone get started who wants to get into this business. That, though, is the key. Geoff approached us, not the other way around. He knew that Jim did mobiles from the local RE group that we all belong to in Florida. The timing just worked that we could flip him a home to get the ball rolling!


#5

We have some great teachers, eh? Lonnie and Ernest Tew, Steve,Corey, Tony, Scott, Steve Wiltz, et al. My greatest respect goes to the folks that take time out of a busy investing career and write a full book!! That amazes me…and I’ll bet Lonnies was written on a typewriter with ribbon LOL.

So much has been given to me soooooo often, like you I try to pass it on.

Read your blog, Ellen and I love it!! Tell Jim to slow down…it’s hot!

Greg