Built on lines of dense computer code, tech startups can seem ethereal and inscrutable. Real estate, on the other hand, is a more concrete business.
If your student loan debt is larger than your salary, investing in real estate might sound like a joke. But it's doable, said Dave Conroy of the startup Meridio, a website in beta testing that lets users invest amounts of money that you might have in your wallet right now–even $20–into specific properties. Using blockchain technology keeps each transaction cost low, said Conroy, whose company is an offshoot of Bushwick-based ConsenSys, which is building myriad applications based on the Ethereum platform.
For investors, the service would reduce transactions costs and make a real-estate portfolio more liquid. For owners, it would unlock more capital and streamline transactions. While Meridio won't provide market intelligence about properties to invest in, prospective investors can call on their own experience, says Conroy, who previously worked for the National Association of Realtors.
Having lived in three cities in the last five years, he said, "you can almost feel which neighborhoods are about to blow up." With Meridio, small-dollar investors can bet on that hunch. You could even invest in the building you're currently renting in, Conroy said.
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Pro Tip: Check with local park managers to find out which parks allow renting, many will not. Pro Tip: As an active mobile home investor, you will want to pay much lower than the retail price for any investment home you purchase. Wholesaling Similar to single-family homes, wholesaling a mobile home inside a mobile home park will allow you to create value between a buyer and seller without actually purchasing the mobile home. As an active mobile home investor, you will obtain a purchase contract on the mobile home and quickly aim to sell this contract to another investor or end-user buyer for a profit. The act of bird dogging mobile homes inside parks is the process of finding and reporting all FSBO properties that fit an investor's criteria to the active mobile home investors you already know. Some mobile home communities will offer "incentive programs" for park-approved home owners that are willing/able to move in a park-approved mobile home. Pro Tip: When speaking to any new community manager, aim to understand any/all move-in incentive programs for future mobile homes and the age/condition/size of mobile homes the park would consider allowing you to move into the community. Selling Directly to the Park When dealing with a more expensive mobile home or double-wide mobile home (one that must be moved after purchasing), it may be attractive to simply re-sell the mobile home to a local mobile home park that you know is looking for more units. When selling directly to a mobile home park, you'll want to understand what each park is looking for in a used mobile home and how much these parks are willing to pay. Moving Unwanted Mobile Homes from One Park to Another If a park owner wants a mobile home removed from the community, perhaps you can help.