Joey Poltor

So that is what it was today. You would never guess my return on the cheapest advertisement I have ever done today. Probably 10-15% were prospects and about 25-30% response on what I was doing. I am not going to tell you what I was doing because I really dont want it to get out.

I spoke with probably 10 people today that may have some interest in me buying their property. We are buying the properties where we will be able to pay them off within a year or two and they will be owned free and clear with the positive cash flow.

Not a bad situation, huh? Especially in a time where no one is able to get loans but has a few thousand to throw at a positive cash flow situation.

Let me show you a scenario. You pay $5k for a mobile that will rent for $680 per month with a lot rent of $180. That means that if it is rented it will be paid off in 10 months as a normal rental. Add a twist, owner finance it for $8k with $2k down. Now you have $3k unpaid of your investment and $6k on a 2 yr note @12.5% simple interest will make you $750 per year in interest plus an additional$3k on your investment. Almost half of your investment comes back at the beginning.

Odds are that the borrower will default, so you can start the process all over again. Trailer park pimpin = big time cash flows. In the above example we are talking about $300 per month, the investment paid off in less than a year and at a minimum doubling your money. Not too bad. What do you think? Well if you want to jump in and buy one, let me know.

Over the past week I have been thinking about getting into some new types of investments. The problem with houses is that no one is able to buy them and they cost so much. A friend came to me the other day and we talked about mobile home investments. Of course my first thought was there is no way I am getting into mobile homes. Almost a snooty thought came to mind. Well this guy makes more money than me and does the majority of it with his cashflow from mobile homes.

The problem with my investments is that since the market has turned, my properties have lost a bit of value and with the cashflow I am not making near enough money. I sell real estate as a wholesaler and as a Realtor. Obviously, I focus on investment real estate.

The problem has been that I can no longer get any loans for more houses. Well no one is able to, so I figure if I can buy some mobiles than I can build up the cash flow to allow me to buy more houses. The next dilemma is how do I buy the mobiles. Well, we are buying at around $3k each, so I just need an extra $3k per month. I could sell more houses, ha! The market is horrible. I am going to find some private money sources that are interested in a 20% annual return. At least I hope. That is the only answer I see for right now, but if you have any other ideas please let me know.

Today I went to the REIA meeting. Here in Charleston we have a great REIA group. We meet once a week and have quite a few investors. Of course there are those who dont have any investments and those who act much bigger than they are, but the real smart guys are the ones that sit back and listen and answer questions. I am relatively new, about a junior high schooler - the way the group would call me, but I cant get over how much infomation we are given. I ask all kinds of questions and show no embarassment as to what I do not know.

Today I asked what to do when you run out of motivation. Though the answers were a bit askew, it boiled down to getting out of your comfort zone. As far out as possible. Deep down I knew this answer but it is hard to accept. Would you agree? It seems that if you are able to jump as far out of your comfort zone as possible you can achieve just about anything.

Well that was what I learned today, get out and out of your comfort zone to achieve your dreams. After all, no one ever got rich watching TV.

You know my grandma told me the other day that when I was just a little boy, 3 and 4 years old, that I said I was going to be a real estate investor. Now at 24, I own an apartment complex and a few homes but am just breaking the ice.

This is by far the most difficult thing that I have ever done with numerous days of asking why and the most rewarding days of saying "thank the heavens!".

This blog will go into my trials and rewards along with my ideas and thoughts. Please feel free to comment. Please no negativity though. I am doing it after so many people have mocked me and I have battled all of the naysayers. Life is easier to just go through with a job but your dreams can make you feel amazing. I made up my mind, I like amazing!