Anyone here ever do a "lonnie deal"?

M

mpbiz

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Apr 29, 2010
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I was browsing through some threads today and came across these two: http://www.wickedfire.com/shooting-shit/132423-real-estate-wholesaling.html and http://www.wickedfire.com/shooting-shit/174049-i-want-try-fixing-flipping-piece-real-estate-2.html

A book called Deals on Wheels by Lonnie Scruggs was recommended. Read through the first couple chapters and it's pretty interesting stuff.

Anyone actively doing this or done it in the past? Not sure if I'd want to do this with mobile homes, but have some other niches in mind that I think would work well.
 


Did you find that from one of my post? It honestly works for any type of property. Mobile being the cheapest to get into.
 
BigWill said:
Did you find that from one of my post? It honestly works for any type of property. Mobile being the cheapest to get into.
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Yeah I did. Was just about to send you a PM.

I'm really interested in giving it a shot, but found some other forums where people are saying the SAFE act fucked everything up.
 
Esquire said:
The SAFE act really killed Lonnie Deals. Tread carefully.
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This.

Wholesaling is legit if you know what you're doing. Most people who get started fail because they don't realize that there is a lot more to it than just putting a property under contract.

I typically do 4 or 5 deals per month, this month I closed 8. If you want some more info on wholesaling just let me know.
 
There are still folks doing lonnie deals after safe act

In the middle of trying to find a good multifamily to close on we picked up a MH for fun. I expect to double our investment but the payoff is long term. You have to be willing to wait to see your profit
 
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