Blog
-
How to Start a Mobile Home Park: A Step-by-Step Guide
How to Start a Mobile Home Park: A Step-by-Step Guide Starting a mobile home park can be exciting and profitable. With the right planning and effort, you can create an affordable housing option that benefits both you and your future residents. As a periodontist, I had NO CLUE about how profitable this asset could be even…
-
What Are CMBS Loans? Loan Terms, Property Types, and Risks Explained
What Are CMBS Loans? Loan Terms, Property Types, and Risks Explained CMBS loans (commercial mortgage-backed securities loans), also known as conduit loans, play a significant role in real estate financing. These loans involve pooling together commercial mortgages and selling them to investors. This allows businesses to access capital while providing investors with a fixed-income investment…
-
How To Make Your Money Work For You
How To Make Your Money Work For You Growing up, I often heard successful people say, “If you want to get rich, you have to make your money work for you.” When I first heard this advice in high school, I had no idea what it meant. Robert Kiyosaki, the author of Rich Dad Poor…
-
Rent Concession: What Is It and Should You Offer One?
Rent Concession: What Is It and Should You Offer One? Rent concessions can be crucial in the rental market, especially for landlords looking to fill vacancies. A rent concession is a temporary incentive landlords offer to attract and keep tenants. These incentives can take many forms, such as: reduced rent waived fees added amenities They…
-
The Four Agreements by Don Miguel Ruiz Book Summary
The Four Agreements by Don Miguel Ruiz Book Summary In “The Four Agreements,” Don Miguel Ruiz shares a guide to personal freedom based on ancient Toltec wisdom. The book highlights four key agreements that, when practiced regularly, can transform your life by helping you overcome self-limiting beliefs and achieve true happiness. Speak with Integrity: Be…
-
How To Buy a Campground With No Money Down
How To Buy a Campground With No Money Down Entering the campground business can be an exciting and profitable venture. With over 16,000 campgrounds across the U.S. and 40 million Americans regularly RVing, the demand for camping spots is high. Whether you’re planning to acquire an existing campground or start one from scratch, it’s essential…
-
Is Accumulated Depreciation An Asset In Real Estate?
Is Accumulated Depreciation An Asset In Real Estate? Accumulated depreciation is important in real estate accounting because it shows the true financial health of a company. It isn’t listed as an asset on the balance sheet; instead, it’s a contra-asset account that lowers the value of the related asset. This amount shows the total depreciation…
-
Rich vs Wealthy: Is There a Difference?
Rich vs Wealthy: Is There a Difference? Rich means having a high income and the ability to buy a lot of STUFF, but true WEALTH involves lasting financial stability and freedom. While being rich is often about current earnings (e.g., being a doctor or dentist), being wealthy means having assets that generate ongoing income, ensuring long-term security.…
-
Total Money Makeover: The Plan I Followed for Financial Freedom
Total Money Makeover: The Plan I Followed for Financial Freedom Looking to transform your finances and achieve financial freedom? After dental school, I was $300k in student loan debt. The worst part was that my job offer fell through, forcing me to open a practice from scratch. Our finances were all over the place, but…
-
The $4.2 Million Gamble: Inside Our High-Stakes Mobile Home Park Transformation
In February 2023, my business partner and I purchased a mobile home park in South Louisiana for $4.2 million. Just one year later, it’s valued at $8.4 million, and it’s still climbing. Here’s a simplified version of our journey. From Purchase to Profit: The First Steps Finding the Opportunity The park is strategically located between…
-
Accredited vs Non-Accredited Investors: What’s the Difference?
Accredited vs Non-Accredited Investors: What’s the Difference? Accredited investors meet certain income or net worth criteria set by the SEC, allowing them to participate in a wider range of investment opportunities. Non-accredited investors, on the other hand, do not meet these financial criteria and are typically limited to more regulated and transparent investment options. Understanding…
-
How to Use a Self-Directed IRA for Real Estate Investing
How to Use a Self-Directed IRA for Real Estate Investing Investing in real estate through a self-directed IRA allows you to diversify your retirement portfolio beyond traditional stocks, mutual funds, and bonds. Unlike a traditional IRA, a self-directed IRA allows you to invest in alternative assets, including real estate. This means you can use your retirement savings…
