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Calculator Says: 100% Yield on First Mobile Home Deal

by Rich, Upstate NY   

In June 2004 finally sick of the working class existence and an extended layoff in the construction industry. I wanted to find a way out of the rat race. After a lot of research, reading all the information from Lonnie Scruggs and Ernest Tew I could get my hands on, and along with hours of pouring over the Mobile Home Discussion Forum, I went for it.

I made my first contact and built a relationship with my first park manager, which I must say was no easy task. After a lot of effort I bought my first home. It was scary looking--something out of Silence of the Lambs, but nevertheless all mine. I worked my tool belt off getting it in good condition and sold it.

I bought myself a trusty little calculator (like a good Lonnie student and did the math). I had to read the book a few times to make sure I wasn't hitting the wrong buttons. Could I actually have made over 100% yield on my first try? So that is that; I am a believer.

I want to mention that my success did not come totally by my own efforts. I had an awesome mentor who helped me work through the bumps in the road--thanks Chuck B. In addition, Lonnie and Ernest, your books [Deals on Wheels and How to Get Rich Helping Others] are invaluable for people looking to get busy and make a better life for themselves.

Now I can't forgot the most important component of my success, the little woman. She mowed the lawn and did all the "man" jobs around our house, so I could do this first deal.

So where am I today? My first park manager wants me to fill up all her vacancies by bringing in used mobile homes with an offer to split cost. I have also started farming a new 400-unit park and dealing with another amicable park manager while working on my second deal. The way I see it sky is the limit. Once I get some financing in order. I'll be back!

 
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