Originally posted by: fredtam
Originally posted by: Arkitech
Originally posted by: fredtam
30
Douglasville, GA (outside Atlanta)
Assemble/ install pool tables, own rental properties, broker mobile homes for Conseco/Greentree
In the next 5-7 years I plan to add more rentals and start two more companies (decorative concrete and HVAC).
Do you manage your rentals or do you use a mgmt company? I'm strongly considering looking into rentals to supplement my income when I decide to quit my full time.
My wife and I manage the rentals . However she is a property manager (2 400+ unit properties for her employer and about 25-30 houses that she manages through her own company) so buying/managing our own just was a logical evolution. Instead of going for actual homes we decided to go with mobile homes when Conseco and Oakwood finance started going under. We picked up a few at an average of about $3000 a piece and I refurbished them. Now I clear about $400 a month each. We have thought about buying houses/condos but that requires a little more capital than I have. Going through a property management company isn't a bad idea but expect to pay about 8% of your gross rental income for their service. If you have the time though its easy to do yourself.
Originally posted by: Voip
Omaha, Nebraska
15
Burke High School, Freshman
I hope to successfully make it though high school, and start my own business. I'm not exactly sure what type of business for sure, but I'm thinking it would be between an arcade, and a computer repair/networking company.
Originally posted by: JulesMaximus
36
San Diego, CA
Accountant
Originally posted by: Arkitech
Originally posted by: JulesMaximus
36
San Diego, CA
Accountant
Just out of curiosity, do you own or rent? I've thought about moving to Cali but the prices of real estate are horrifying.
On your mobile homes do you own the land that they reside on? If not what type of arrangements do you have worked out with your tenants? Do they pay a fee to the land owner or do you pay the fees and just build it into the rent? I read some articles on mobile home investing and it sounds really lucrative if you're in the right area for it.