Aaron Kinney
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Investing Tip – Relationships Are Important!
This was an off-market property that an investor friend had contacted us about. They invest solely in mobile homes and were not interested in the private land under the home but knew that we might be.Here are the details:Late 80’s 2 bedroom 2 bathroom mobile home in fair to good condition. The home needed some floor work around the front and back doors but was in liveable condition.1.8 acre lot that previously had two mobile homes on the property. The lot included one well, two septic tanks, and two power poles.The property was located in a highly desirable area that…
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Small Doublewide In New Area
One of the great reasons for investing in mobile homes with land is the ability to constantly test new markets without having too much at risk financially.Let’s review one of my property deals that is a great example of that.Mobile Home Deal BackgroundIn January 2013, we had a crazy month of rehabbing and finding tenant-buyers for two properties (properties 4 & 5) and buying two more properties (properties 6 & 7). By mid February 2013, we had tenant-buyers in place in all of our homes and we felt like we could breathe again.We made an offer on this property at…
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Why Every Investor Should Write A Book About Their Business
After reading this title, you might be thinking:“There’s already plenty of Real Estate gurus. I have no desire to do that.”Let me explain.You don’t need to make a ton of money or even a single dollar for this to be a worthwhile endeavor. Here’s the main goal:Writing a book about your business is a way to look at your business introspectively and assess its strengths and weaknesses.Investors tend to be a very busy group as most are balancing a full time job, an investing business, and spending time with family/friends. We tend to get bogged down and are simply reacting…
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Common Repairs In Mobile Home Investing
For the most part, mobile home repairs tend to be easier and more cost-effective than their site-built single family counterparts.Since mobile homes are built in factories under similar conditions with similar parts, the same problems seem to pop up over and over.Let me just mention quickly that we sell our homes to our tenant-buyers on a “rent-to-own” so we try to get them to perform some of the more cosmetic repairs since they are trying to buy it.Common Mobile Home Investing RepairsHere are 4 most common repairs that we perform in most of our investment mobile homes:FlooringMany mobile homes use…
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5 Ways Your Job Can Help Launch Your Real Estate Investing Business
Are you tired of working your job and ready to make the jump to full time real estate investing? Many can make a full time living off of their real estate investments within a few years; however, it’s definitely not easy. You feel like you can grow your business so much faster if you could take the vast amount of time and energy that’s being put into your job and compound that with the limited amount you are already putting into your business.If you are fortunate enough that your spouse makes enough money to pay all of your bills, then…
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Considering Partnering? Use This One Mental Tip Before Jumping In
When describing partnerships, let me first describe how my dad and I began ours. My dad and I have been investing in mobile homes with land since 2011. However, we didn’t start out planning to partner together.How My Partnership BeganI had been bit by the real estate investing bug, specifically mobile home investing, after reading Lonnie Scruggs’ Deals on Wheels. I bought my first deal (just a mobile home) using my own cash and my dad gladly helped me make the repairs to the home on weekends. I got a second deal (this time, a mobile home with the land)…
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Financing Options For Mobile Home With Land Investors
Quick Intro: My name is Aaron Kinney and alongside my dad we invest in mobile home with land properties in South Carolina. To date we have completed 15 buy-and-hold deals. In our market we have been to able to purchase and renovate these properties for an average of $20,000. Funding Our Mobile Home Deals Let’s talk about how we have funded these mobile home investing deals. We have used very little of our own cash. (I bought the first deal with $15,000 of my own money and invested another $10,000 in our business to earn money at a higher interest…
