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: "Making Money Through Mobile Home Investing"

(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).



Recently, I had the opportunity to read this book about mobile home investing.

(Note: This is one of the mobile home investing books several folks had asked me about inquiring if I had read it - many folks had asked what I thought of this one).

The format of the book is more of a Question and Answer (aka Q & A) type format. Basically, it's a book that answers a lot of the most basic and frequently asked questions in the mobile home investing world. There are some pros and cons to the book.

In my opinion, the pro to the book is that it's a very basic book that has a lot of mobile home investing type questions that a lot of folks just starting out usually ask - it's all in one place (in this book). Since it's a Q & A type format, it's a very easy and fast read - the book is divided into 11 Chapters.

(Note: If you would like to see the inside of the book, read the Table of Contents).

What I like about the book is that it's very easy to follow. I also like the fact that the book is divided into chapters based on the different topics involved in mobile home investing. So, if there is a certain question someone had on a certain topic (i.e. marketing, mobile home inspection, etc) then they could just turn to that chapter and read through the Q &A on that specific topic.

Now, I do understand the questions and answers presented in the book are very basic. A lot of these same type questions and answers can be found and/or asked by visiting various real estate forums online such as BiggerPockets, CREOnline, Mobile Home University, etc. So, if money is a bit tight and you would rather go and find the answers - it's available. Though, it will take time to go out and seek this information.

(Note: I've had some folks ask me if I had any material such as this - a basic Q & A type book on mobile home investing. Unfortunately, I do not have any material right now. Though, I am looking to put together a Frequently Asked Questions (FAQ) section on this blog in the future to address the most common mobile home investing questions that have been asked to me).

But, if you're new to mobile home investing and still have questions (after reading Lonnie's book, "Deals on Wheels,") the pro of this book is that the questions and answers pertaining to mobile home investing are all in one place.

(Note: Personally, I'm one of those people who have to have a hard copy when I'm reading books. To me, it's just not the same. Yes, it's nice some information is out there in electronic format though I prefer hard copy type books. I'm sure there are others who do read material in electronic format out there, though reading a hard copy and having it at hand is just my preference).

As for the cons, there are some grammatical errors in the book (i.e. run on sentences, missing words, syntax errors, etc). For me personally, this is a bit bothersome. It's not every sentence but I do recognize the grammatical errors when they show up in the book.

Another con is that there are some statements made that I just don't agree with. I understand this book is supposed to be based on one individual's experience investing in mobile homes, though I do have a problem when folks (especially real estate investors) are too black and white.

Honestly from my own personal experience, everyone is going to have different experiences and different results - what works for one person in one area but not necessarily work for another person in another area (or the same area) - it's all a matter of preference and personality.

One of the examples involves a question regarding whether or not to invest in 55 and older mobile home type communities. The answer was very black and white.

Basically, investing in senior parks was not recommended. However, I know of some folks who have been very successful investing in senior parks. Some even started out that way because that's all there was in their area. So, you see - it's going to be different for everyone.

Another problem I had with the book was a statement made in the beginning (actually in the Forward). It basically made a statement about an "elderly man" who had written a book and "had been in the used mobile home business for years." (I'm guessing this is Lonnie). And, it further stated that the material in the book was "somewhat limited and dated."

Honestly, Lonnie's material is NOT outdated. There are folks doing exactly what he has taught in his book - those types of deals are out there. Though each area is different and the market values vary, the concept is the same - no matter if you buy at the upper end of the spectrum or the lower end. It doesen't matter - what matters is the concept. And, that is NOT outdated.

(Note: If you're interested in reading more about the concept of mobile home investing, feel free to read this article I wrote).

Furthermore, I know folks who have been very successful in mobile home investing and the only book they used to get started was Lonnie's book. Though there's other material out there, really it's a matter of taking action and having the passion to just go out and do it. Period.

Lastly, near the end there are some "sales type" pitches for other products and services - it showcases some audio courses and seminars as well as a reference to the website.

(Note: I don't necessarily see this as a bad thing - I think it's there for those who may be interested in checking out what else they offer as available in terms of materials and seminars on the subject of mobile home investing).

Overall, I think this book is a good basic type of book for folks who may still have some questions after reading Lonnie's book, which I highly recommend.

Though a lot of the questions and answers can be found through a bit of digging and searching online, the pro to the book is that the Q & A is here all in one place organized and divided according to topic. But, if money is a bit tight and/or you're a bit resourceful you can go out and find these same type questions and answers online.

Again, this book is based on one individual's experience - every person's experience will be different. What works for some may not work for others and vice versa - it's a all a matter of preference and personality. What's important is that the concept is the same. And, the concept is NOT outdated.

I hope you enjoyed reading this book review. With the high amount of requests for my opinions on these, it's something that I've decided to start doing.

I'm going to end this review by sharing with you another one of my favorite Lonnie quotes, "If you look for opportunities, you will find opportunities. If you look for problems, you will find problems. If you look for excuses, you will find excuses. What are you looking for?"

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!