Book Review: "Financial Freedom GPS"

(Note: Since there have been folks who have asked my recommendations on business and finance books to read, I've decided to go ahead and start a new series of posts - book reviews).



Sorry to be out of the blog scene folks. Just getting back from my retreat here. It was nice to get away for awhile, it really gave me some time to really think. And, relax! :)

Barely getting back into town, it's been pretty chaotic. The phone has been ringing non-stop, lots of work to do. By far, fall and winter have been the busiest times of the year for me in the mobile home biz. And, already I'm working 2 potential mobile home deals. Work, work, work!

In any case, I thought I'd check in with you all and share with you a special book that just came out by my pal, Shae Bynes, called Financial Freedom GPS.

(Note: For those of you who are new to the blog, Shae was deemed one of the "Best and Brightest Women In Real Estate Investing").

So, what is the book about?

Well, the book is about a topic that is near and dear to my heart. And, that is the topic of financial freedom .

For me personally, the concept of financial freedom is so important. Why? It's simple. Financial freedom allows me to do the things I want to do, not have to do. And, Shae has laid it out here in this book step by step.

I have personally gone through the book. And, I must say - it's very well done and thorough. For those interested in achieving financial freedom, this is a book that will take you step by step and guide you on your path to get there.

What I really like about the book is that it really makes you think and opens up your mind to other ideas. Honestly, there were a couple ideas in the book that I had not been aware of. And, I especially enjoyed the resources and exercises Shae included in the book.

Now, I'm going to be honest with you. The path to financial freedom is not easy. And, it's really a process.

Basically, the transition involves from going full-time at a job to going part-time. In my opinion, the key is to slowly build up income streams to make things financially easier for you and your family.

Once the income streams start coming in, it will allow you to work less at a job that you have to (in order to pay the bills). And, in turn will allow you to focus your efforts in creating income streams so you can have more time to do the things you want to do, not have to do.

This is the transition many successful investors I have met have gone through. Some even continue to work part-time, not because they have to but because they want to. In fact, my mentors now all went through the same transition. One in particular still works part-time still enjoying the type of work they do.

(Note: I have 3 mentors for the mobile home biz. A local, regional, and national mentor - all together with over 50 years of experience in the mobile home biz. I've learned a great deal from each one, they have really helped me along the way. Mentors are definitely important members to have on your team).

For those who are interested in achieving financial freedom, this book is a great guide and road map. Shae has laid it out all here in the book, step by step. It's packed with a lot of useful information, resources and exercises to help you on your path to financial freedom.

(Note: It only took me 3 "Lonnie" deals for me to personally have a passive income stream to cover my housing payment. Seriously, the concept of financial freedom is all very simple. Though, it's the planning and the execution that takes work).

The book is very affordable, it's definitely worth the price. And, Shae is also including a Fast Action Bonus for those who order the book before Friday at midnight: 2 Live Q & A sessions where you can ask Shae any questions that you have after reading the course material!

For what it's worth, I really think this is a great book. And, the Fast Action Bonus Shae is offering just goes to show her support and caring nature for others.

If you've been thinking about and/or wanting to achieve financial freedom, I definitely recommend this book. Check out Financial Freedom GPS today!



p.s. Yes, this is an affiliate link. But, I assure you - I wholeheartedly believe in the book and believe it will help those on their path to financial freedom. Happy investing!

Book Review: "Making Money with Mobile Homes"

(Note: Recently, I've had a lot of folks contact me asking what the difference between some of Lonnie's as well as other mobile home investing materials out there and which one I'd recommend the most. So, I've decided to go ahead and start a new series of posts - book reviews).



"You should never let the mail carrier pass your house without leaving a check."

- Lonnie Scruggs

In my last book review of Lonnie Scruggs' book, "Deals on Wheels," I highly recommended it for those who are just getting started and learning about mobile home investing.

For those who have already read this book, his latest book "Making Money with Mobile Homes" is yet another good read.

Many have asked me what the difference is between the two books, "Deals on Wheels" vs. "Making Money with Mobile Homes." I would say the main difference is the viewpoint and style of each book.

In "Deals on Wheels," Lonnie really focuses on the concept of mobile home investing (it's advantages) as well as the nuts and bolts (aka the "how to") involved. On the other hand, "Making Money with Mobile Homes," is more of a book filled with more stories and ideas based on the same concept.

Comparing the two books, I would say "Deals on Wheels" is more of a "how to" guide while "Making Money with Mobile Homes" is built on more stories and ideas based on experience.

What I enjoyed about "Making Money with Mobile Homes," was the stories. There were stories I could relate to and there were new stories that gave me ideas. However, I would say this book is for those who have already familiarized themselves with the mobile home business as a whole.

(Note: For those who have not read "Deals on Wheels" yet, I highly recommend reading it first).

For those who are familiar with the mobile home business, it's definitely a relatable book. There are so many stories that I could relate to while reading the book. And, there are new stories that gave me ideas on how and what I can do to improve - it gave me ideas on other options out there.

Some folks don't like it when books have too many stories - I have heard some call Lonnie's materials full of "fluff." But, you know what? That's how we learn - through stories and experiences.

I could read all the "how to" guides in the world. But, if there are no stories and experiences I probably would not be as interested and would not learn as much.

Just like in the book "Rich Dad, Poor Dad," we all enjoy a good story. Stories make things interesting, stories intrigue us. Without stories, I find those types of books to be dry and not as interesting.

So, if you're really interested in the mobile home world or if you're already in the business and want to learn more, I definitely recommend this book.

Happy investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!

Book Review: "Deals on Wheels"

"You should never let the mail carrier pass your house without leaving a check."

- Lonnie Scruggs

Recently, I've had a lot of folks contact me asking what the difference between some of Lonnie's as well as other mobile home investing materials out there and which one I'd recommend the most. So, I've decided to go ahead and start a new series of posts - book reviews.

For those just starting out and learning about mobile home investing, I highly recommend Lonnie's book - "Deals on Wheels."

The reason why I recommend this book is that is the foundation and learning point - it explains the concept of "Lonnie" deals, what they are, and why they are beneficial. Basically, Lonnie lays out the blueprint in this book to his system of creating passive income.

Having a strong foundation is the building block - it is everything. Without a strong foundation, a house will not be able to sustain itself and will eventually fall.

Just like a house, Lonnie's book is the foundation of "Lonnie" deals and the system of creating passive income as a method to achieve financial freedom.

(Note: If you're interested in the concept of financial freedom, I did write an article here on why I've chosen "Lonnie" deals as my desired path to financial freedom).

Many have asked which of Lonnie's books would be a better buy. For those just starting out, I'd say start out with "Deals on Wheels."

I recommend giving it a good read. Then, I recommend reading it again. Why?

The way most folks learn is through repetition. When we see things and do things over and over again, that is how messages and information get ingrained in our minds. There's an old saying in advertising that we must see an ad at least seven times in order to remember the ad and the product - the same can be applied here.

Apart from reading the book, my suggestion is to go out and really take the time to learn your market. It is essential to know your market backwards and forwards before going into any deal. Without having the knowledge of the market, it will be very difficult to recognize opportunities.

(Note: For those interested in some of the steps I took to learn the market, feel free to look at this post (see item #3).

Regarding some of Lonnie's other materials, I would say to first start out with "Deals on Wheels." See if you like it.

I've said this before - this business is not for everyone. Not everyone who has read Lonnie's materials have pursued "Lonnie" deals - it is a matter of personality.

(Note: In this post, I talk about a fellow investor who tried Lonnie's system and didn't like it. Again, it is a matter of personality - everyone has a different path).

Then, if you enjoy the concept of "Lonnie" deals then and only then would I recommend his other materials. If not, you've saved yourself some money.

I'm going to end this review by saying this business (like any other business) takes work - hard work. I've said this before in this post - it took me 6 months to learn my market and another 2 months to do my first deal. Success does not happen overnight.

Though, with passion and persistence success will come. As Lonnie says, "When you're really committed to something, you won't accept any excuses."

Happy investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!

Top 10 Time Management Books

In order to run a business, it's very important to be a good manager of time, money, and people. Time management is very important as it allows you to manage your time more efficiently and prioritize.

In order to make better use of my time, I read time management books on a regular basis. Then, I use what I learn in the books and apply to real life situations.

Here's my Top 10 Time Management Books that have helped me. I hope it will help you too!

1. The 4-Hour Work Week
2. Getting Things Done
3. The 7 Habits of Highly Effective People
4. The 80/20 Principle
5. Get Everything Done: And Still Have Time to Play
6. The Time Trap: The Classic Book on Time Management
7. The 25 Best Time Management Tools & Techniques
8. Never Check E-mail In the Morning
9. Time Management From the Inside Out
10. Successful Time Management For Dummies

Comparison Shopping

Hi everyone! Sorry I haven't posted in awhile - I've been really tied up lately. Though, I wanted to make a quick post here regarding comparison shopping.

It's very important to shop around and do some comparison shopping for things you buy - over time it does add up. Remember, you're not being cheap - you're being frugal. There is a difference. And, why should you pay more for the exact same thing?

By learning to bargain hunt and by becoming a more informed shopper, you will save a lot of money over time. And, the money saved can quickly add up and be used towards other things for your business and/or your personal life.

So, let me give you an example of one of my most recent comparison shopping experiences.

For instance, take this simple bath mat I bought for one of the trailers recently.



As you can see from the pic, this cost $4 - I purchased it locally from the Family Dollar Store. Before making my purchase, I did some research and visited a couple places for similar bath mats. Wal-Mart came at $5.96 - it came close. By purchasing the bath mat at the Family Dollar Store, I saved almost $2.

Now, I know saving $2 may seem very mundane and not that big of a deal. But, imagine if I had to purchase 20, 30, 40, or even 50 bath mats? As you can tell, the costs add up.

When running a business and even personally, I think it's very important to have a frugal mindset. So much money is wasted everyday - most people don't even realize it. By learning to become more frugal, it forces you to be more resourceful and in turn save your hard earned money for other things.

(If you're interested in reading more about having a frugal mindset, I highly recommend this book. It really opened up my eyes and reiterated some things for me).

Happy Investing!

Top 10 Home Repair Books

If you're going to get into mobile home and/or real estate investing, it's very important to know the basics of home repair. There will be times when repairs will need to be made. Even if you decide not to do the repairs yourself and decide to hire a contractor(s), it's important to know home repair basics so you know exactly what's involved for each project. (Note: One thing about contractors, you will always want to get at least 3 opinions for each project. This way, you can get a feel for rates in your area. Also, you can always negotiate whether or not you want to provide materials and just pay for labor, or both. The choice is up to you).

Here's a list of my Top 10 Home Repair Books that have helped me. I hope it will help you, too!

1. The Manual For Manufactured/Mobile Home Repair and Upgrade
2. Energy and Repair Guide For Manufactured Housing
3. Mobile Home Repair: An Inexpensive Metal Roof You Can Install
4. Black & Decker Complete Photo Guide to Home Repair
5. Home Improvement 1-2-3: Expert Advice from The Home Depot
6. The Complete Idiot's Guide to Simple Home Repair
7. Better Homes and Gardens Big Book of Home How-To
8. Home Improvement for Dummies
9. Dare to Repair
10. How to Fix Everything For Dummies

Top 10 Sales Books

Learning how to sell is one of the most important skills to have in business. To me, selling is not only one-sided - it is finding a need and filling it by creating win/win situations. (By the way, if you're also interested in the topic of "negotiation" check out this link).

Let's face it - most people don't like to sell. Whenever I hear this, I always remember the old saying:

"People don't like to be sold. But, they love to buy."

If people don't like to be sold but love to buy, then how do we sell? Simple. Don't.

Again, to me selling is simply finding a need and filling it. So, what you need to do is find a need (i.e. people who need your products and/or services) and fill that need. That's all there is to it.

I've learned the art of selling by simply reading books on the subject and applying what I've learned - it's more of an art than an exact science. At first, it doesen't come easy. But, with a little practice it becomes natural.

Here's a list of my Top 10 Sales Books that have helped me. I hope it will help you too!

1. Selling With Integrity
2. The One Minute Sales Person
3. Selling 101: What Every Successful Sales Professional Needs to Know
4. Little Red Book of Selling
5. Sales Dogs
6. How to Master the Art of Selling
7. The Psychology of Selling
8. Secrets of Power Persuasion
9. Zig Ziglar's Secrets of Closing the Sale
10. Integrity Selling

Nickel and Dimed

I recently just finished reading this book:



"Funny, poignant, and passionate, this revelatory firsthand account of life in low-wage America - the story of Barbara Ehrenreich's attempts to eke out a living while working as a waitress, hotel maid, house cleaner, nursing-home aide, and Wal-Mart associate - has become an essential part of the nation's political discourse."

So, what does this book have to do with mobile home investing? Plenty.

It goes into detail the psychology and the work involved for low wage working class folks across America. Who are these people? To me, they are considered customers in the world of mobile home investing.

In the book, the search for affordable housing seems to be a re-occurring theme. Let's face it - there will always be low wage jobs in America and in turn a need for affordable housing. This is where mobile homes come into play.

In any business, you must know your customers - know what their wants and needs are. It's important to know the kind of psychology involved with your customers in any business.

This book will give you a glimpse of the working class world - a world that is intertwined and directly connected to affordable housing and the world of mobile home investing.

Top 10 Negotiation Books

In my prior post, I mentioned the importance of learning essential business skills - one very important skill is negotiating.

Most times, when people hear the word "negotiate" it gives them a bad feeling - it makes people feel like someone is taking something from them, creating a win/lose situation.

However, negotiating is nothing like that. To me, negotiating is having the ability to create win/win situations for everyone. Now, I know that maybe we all won't get exactly what we want but we can try to at least come to an agreement that makes all parties feel comfortable.

In order to learn the skill of negotiating, I read and learned from books. Then, I used the techniques from what I learned and used them in real life situations - this is where you really learn the skill of negotiating.

Here's a list of my Top 10 Negotiation Books that have helped me. I hope it will help you too!

1. The Art of the Deal
2. Getting to Yes
3. Getting Past No
4. Negotiate This
5. Secrets of Power Negotiating
6. You Can Negotiate Anything
7. Trump-Style Negotiation
8. The Negotiating Paradox
9. Harvard Business Essentials Guide to Negotiation
10. Negotiating For Dummies

Book Recommendations

I've received some requests from people regarding book recommendations.

From time to time, I will continue to do book reviews. If you're looking for some recommendations, a good place to start is on the tool bar to the right labeled "Recommended Reading." I've included my book recommendations there. I will continue to update the "Recommended Reading" section.

Also, you might want to check out this link with my past blog posts on book recommendations. I will continue to post more "lists" and book recommendations in the future.

Happy reading!

Top 10 Motivational Books

In my last post, I talked about the importance of believing in yourself and what you are doing to help you push forward with your investing goals. Building confidence is very important and one of the traits of successful people - if you believe in yourself and what you are doing, you can achieve anything.

Some people question why I spend so much time focusing on the mental aspect - it's very important. If you are not prepared mentally, it will be very hard for you to achieve your investing goals. For many people, they think all they have to do is get out there and start doing things.

However, if your heart is not in it and your beliefs are shaky it will be very difficult. Before going forward with any type of investing endeavor, I highly suggest examining yourself and your goals. (Here's a post I made about getting your personal finances in order first before going out and starting to invest). Once you are mentally prepared and have the confidence, you will have the power you need to push forward with your goals for investing.

One of the things I've done to boost my confidence is read motivational books - it has truly been helpful and has contributed to my success investing in mobile homes. I recommend reading books that inspire you and motivate you to be all you can be.

Here is a list of my Top 10 Motivational Books that have helped me. I hope it will help you, too!

1. Awaken the Giant Within
2. Unlimited Power
3. Think and Grow Rich
4. The Magic of Thinking Big
5. The 7 Habits of Highly Effective People
6. Who Moved My Cheese
7. Our Iceberg Is Melting: Changing and Succeeding Under Any Conditions
8. Success Through A Positive Mental Attitude
9. The Law of Success
10. The Magic of Believing

Top 10 Personal Finance Books

Thought I'd post a list of the Top 10 Personal Finance Books that have helped me understand the subject of money. Before going out and starting to invest, I needed to make sure I had my own financial house (aka personal finances) in order.

There have been countless people who go out and invest without even having their own finances in order first. By having your financial house in order, you will know how much money is going in and how much is going out, and what areas you need to work on - this is basic stuff most people don't even know.

Here's my Top 10 Personal Finance Books:

1. The Richest Man In Babylon
2. Rich Dad, Poor Dad
3. Cashflow Quadrant
4. Guide to Investing
5. The Millionaire Next Door
6. The Automatic Millionaire
7. Your Money or Your Life
8. Four Pillars of Investing
9. The Bogleheads' Guide to Investing
10. A Random Walk Down Wallstreet

Mobile Home Repair

Here are some good books about mobile home repair. I've personally purchased both the manual and the mobile home repair guide. Both great reference books!