Hi Greg,
I appreciate your sharing with the group. I’m curious about the 86-92 homes that your passing up for free. I’d be interested in talking to you about taking some of these off of your hands if they’re in decent shape. Whereabouts in Florida are you located? I’d be moving them to another state, but have a toter truck.
Thanks,
Gene
is as follows:
Infinity Homes, Inc.
11950 SE Hwy 464
Ocklawaha, FL 32179
352.288.0046 Phone
352.216.2020 Cell
We run a generic ad:
Look for orange sign and we get 4-10 calls per month…why not place your own free ad and start mining for good used s/w homes…we don’t want or need them. I would place my ad under SINGLEWIDE classification.
We get 3 or 4 nice doublewides per month this way!
Greg
I have an '01 4/2 double on 1 acre in a great area under contract for $70k, a foreclosure closing on the 25th. This is a big step for my humble operation. The previous owner let her 20 or so cats use the entire house as a litter box, but other than that just needs paint and new carpet. Also, L/H im living in on the market, new tenants in rental, and a refi in the works. Greg, I like these l/h foreclosures for my current business strategy because my buyers can cash me out with FHA financing. This home will sell for around $130k easily. I am hoping to have my income replaced in the next two or three months and QUIT my job finally and be a full-timer. I REALLY REALLY want to attend Tony’s bootcamp but just had some serious car trouble and am cash poor until my l/h sells in time. If I don’t make it I will be sure to catch the next one. I have been pushing and pushing and the ball is finally starting to roll. Greg, how is your daughter’s business coming? I would like to hear some details of the biz.
Cole Haynes
(813)766-6756
from you. I really liked your Dad also. I am going to the Bootcamp in August and I am pumped. i try to take summers off, but Tony and Scott put on a heck of a Bootcamp.
More than a dozen friends have attended and one of the biggest mistakes I have made in this business is thinking I know enough about a subject (ANY subject) and ignore an opportunity to further my own education.
I am cash poor now also, this is a TOUGH market on L/H sales or L/O. We are having an insurance, impact fee, and finance crisis here in FL right now. A young couple just starting out in marion county need to find a lot for 15K, impact fee 10K, and well, septic, power pole for 10K BEFORE buying a niced used repo set up!!! Round numbers of 70K total and no financing prior to CO!! This makes our packaged deals real attractive, but it takes a 640 FICO to finance, and these folks are going to CBS spec homes at cost to builder!!
The good (and bad) news is real estate is coming down in price here.
Jen is gonna cut way back this summer…starting college WOW!
Greg
Greg,
I was one of those people who raised their hand on 3-5 in San Diego and I and my business partner closed escrow on 4-24. The park was originally priced at $600K and we got it for $460K. 8.25 acres, 42 spaces, room to easily expand 3 more DW spaces (already have City OK), 3 empty lots, 2 abandoned homes, around a 12-13 cap rate based on current numbers, City services, water sub-meters going in starting in late June, only 1 eviction in process. Good infrastructure. I re-named the place and instituted some really brutal rule changes which brought immediate results. Police calls are way down and am getting resident inquiries regarding financing new homes, sheds, and referrals from their friends. If my house in CA ever sells, I plan to move into the community for a while and landscape the place. 8 WHOLE ACRES AND I GET TO LANDSCAPE ALL OF IT!!! I can’t wait.
I expect to have the place full and up and running the way I want it within 1 year. My goal is to be working overseas (I have job offers to teach English from all over the world.) and still be able to run the entire place on-line. Keep in mind I accomplished all of the above in just over 30 days. Imagine what I can do in a year. OK, OK, I’ll stop patting myself on the back lest I break an arm.
It took me 2 years of looking to find this place but I got pretty much exactly what I wanted. It was worth the wait and work to get this.
So, everyone, here is my formal declaration(Are you listening Steve Case?): I want to buy another, bigger, community in the near future. My goal is to eventually own 3 communities. If those of you with money out there are looking for someone with the smarts and drive to pull off a turnaround situation, let’s talk.
And an open invitation to anyone in my neck of the woods (north eastern Ohio about 45 minutes from Pittsburgh airport): You are welcome to give me a call and come by anytime. I’ll freely share the good and the bad and the numbers with you. I only ask that you bring along some ideas of your own to share with me. A six-pack is always appreciated, too:-)
Rolf