Welcome back,
In today’s 40-minute Mobile Home Investing Podcast Lesson episode #35 I’m honored and so proud to introduce you to active Mobile Home Formula investor, Isabel to the co-hosting microphone. Isabel is a military veteran, ex-police officer, loving dad, and all-around great guy.
He has also been a very active part-time mobile home investor for the past 6 months.
With Isabel’s police & military background, he is not one to mince words.
Isabel has a great mindset, attitude and command of language when working with mobile home buyers and sellers. Isabel’s experience as a bouncer, veteran, police officer and a field training officer may be a key piece to that puzzle.
Mobile home investing is a people business.
You will typically have much better success if you can be likable, social, and highly motivated.
As an introvert myself, you can absolutely fake it until you make it.
Listen in on today’s podcast and hear how “real” Isabel is from the very beginning. Isabel’s attitude and ability to laugh at himself is incredibly disarming. You will hear what I mean after 5 minutes of listening to Isabel on today’s podcast.
Mobile home investing is a people business; however, you must know today’s repair costs, realistic exit strategies, pitfalls, paperwork, procedures, next steps, screening processes, handymen, who to trust, and more. Any specific questions you have about mobile home investing never hesitate to reach out to the email address below.
Special thanks to Isabel for giving so much value on today’s podcast.
Keeping it REAL with mobile home sellers and buyers.
One trait Isabel has possessed from the very beginning of our time working together 6 months ago, is the ability to make me believe what he is saying. Not once have I thought Isabel is a lair or exaggerator. Isabel is cool and cautious.
Isabel is not a politician. His sincerity, clarity, fairness, confidence, and willingness-to-walk-away over the phone all puts sellers and buyers at more ease. With practice Isabel has become very relaxed speaking with buyers and sellers; and it shows.
Tips while dealing with sellers and buyers:
✔ Understand your complete selling game plan before you call sellers.
✔ Know your buying strategies, criteria, and limits before speaking with any buyers.
✔ Seller’s respect honesty and directness. If a seller is your age or younger, speak to seller as you would a cousin. If the seller is older, be polite and treat as you would an older family-friend you’ve known since childhood.
✔ Know your boundaries with sellers and buyers.
✔ Know when you will and will not set appointments with sellers and buyers.
✔ Be confident in your ability to solve problems and get questions answered.
✔ Know your next steps before they arrive. The more clarity you can give the seller or buyer the better.
In the podcast episode below John and Isabel cover:
✔ 0:00 Let’s get started!
✔ 2:05 Background about Isabel
✔ 4:40 Purchasing Subject-to the mortgage and selling owner financing.
✔ 8:35 Isabel’s Owner financing mindset.
✔ 10:00 Giving the seller multiple purchase offers.
✔ 12:30 Being a “no-professional”.
✔ 15:05 The attitude of most active professional investors.
✔ 18:20 Conditioning sellers over the phone.
✔ 20:00 Chasing the slow dimes VS. the fast nickels.
✔ 21:40 Dealing with sophisticated sellers.
✔ 25:50 Differences between mobile home sellers VS. traditional home sellers.
✔ 26:55 Wholesales & Must-Be-Moved mobile homes.
✔ 27:30 Free mobile homes!
✔ 29:50 Selling for cash VS. payments
✔ 30:30 What scares you with mobile homes?
✔ 33:25 Things you will change moving forward in your mobile home business.
✔ 34:30 Dealing with sketchy mobile home sellers.
✔ 37:10 Private money for your mobile home deals.
✔ 38:10 Verbal clues a potential payment-buyer or renter may be trouble.
Mobile home investing happens in the real-world, not so much behind a computer screen. Expect to meet 100s of new people in the next few years investing.
Continue to learn, take daily action and implement new strategies to replace what is not working.
Pro Tip: Aim to join a local real estate investors association club to network with other investors. Check out Meetup.com and NationalREIA.com for more details and active clubs near you.
Aim to implement some of the tips and suggestions mentioned in today’s podcast into your own mobile home investing business.
Bonus Video:
You will never learn everything you need to know about real estate investing from reading books or watching videos. While there are many ways to make profit in real estate, there are countless ways to lose money as well.
Have fun and take daily action to reach your financial goals. If you have questions, ask them. There are plenty of active investors around to give you help and guidance if you simply ask for it.
You a real human? Say “Hi!” below and introduce yourself.
Thanks for following along. Check out the podcast episode below. Isabel and I hope it helps your mobile home investing journey.
Love what you do daily,
John Fedro
support@mobilehomeinvesting.net
Listen to John and Isabel’s Podcast here…
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6 Comments
Nicole
November 26, 2021Hello John,
Thanks for writing this article its very informative and good information. I do need help Im wanting to sell my mobile home in Kansas. The issue is I don’t own the rights to the land paying a mortgage on it including rent. My x and I are both on the mortgage property but I’m wanting to sell it quickly since needing to be out of the property by January going to be moving to a different state and rather sell it through a broker. Don’t want to go through the hassle and fees to a real estate agent. Plus do I need get his name off the mortgage in order to sell it.
John Fedro
November 30, 2021Hi Nicole,
Thanks for reaching out and connecting. Additionally, thank you for your detailed comment as this certainly does help me understand your situation a bit better. Since there is a lien on the title the bank will most likely be holding this title until they are paid off completely. At this point the title will be sent to you, along with a potential release of lien or satisfaction letter, at this point the title will still be in you and your ex-boyfriend’s name. At this point your ex-boyfriend and you will need to sign off on the title to then transfer it to the new buyers name. Make sure you go down to the courthouse/DMV to transfer ownership into this new buyers name as well. Keep in mind that the bank will have to be paid off before a lien release or title is sent to you. This means that a buyer will need to give you all of the money, or at least the money for the bank pay off, prior to them getting clear title. They will however get immediate possession, they should already be approved at the park, they will have keys and a bill of sale. However they will be waiting on the title from you. Some buyers will have a problem with this as they do not want to trust you, and other buyers will be accepting of this. Sometimes an attorney could get involved to be the trusted third-party, however this is not always needed. I hope that this helps him and makes sense. If you have any follow-up questions now or moving forward about this or anything else never hesitate to reach out anytime. All the best.
Talk soon,
John
Joann
December 15, 2021john,
I sold a mobile home 8 years ago, I did not have the title and moved away upon coming back to my home town, the county tax assessor caught up to me with an outstanding bill of taxes for the mobile home. After some research, I have found that the mobile home has not been transferred out of my name, can I take this mobile back. Is there a statue of limitation for transferring the title?
John Fedro
January 3, 2022Hi Joann,
Thank you very much for reaching out and connecting. I very much regret to hear about the situation. I’m unsure which state the mobile home is located in, however in most states noble home title not be transferred into another person’s name that these back taxes being paid. This means that they stay with the mobile home. However in a few states these back taxes attached to the person will follow you forward. I mention this because if you are in a state where the back taxes follow you will need to show proof of a bill of sale or some paperwork from eight years ago showing that the home was indeed sold. If you are unable to do this, which may be likely since it was eight years ago, you will have to talk with the tax department manager to see what type of leniency they can give you. However, if you are in a state where title will not transfer until these back taxes are paid, then definitely go to the person the now lives in the home and let them know that you are still the homeowner and if these back taxes are not paid in the title taken out of your name are going to pay the taxes yourself, have these people evicted, and move the home to a different piece of property. Keep in mind you might be dealing with the people that you sold the home to, or different people who may have purchased the home from somebody else you do not know. However the fact that the title is still in your name means that you hold many of the cards. I hope this helps and make some sense. Please feel free to keep in touch moving forward if you have any follow-up questions. Happy to help if possible.
John Morrow, RN
June 22, 2024we need some new podcasts/videos about current California investor and their success
John Fedro
June 27, 2024Hello John,
Thank you for reaching out and connecting. I am working with folks in California and as you can imagine they are profitable. Occasionally we are purchasing higher end mobile homes that we are selling for over six figures. However in other locations of the state we are purchasing mobile homes for under $10,000 and reselling them for between $30,000 and $40,000. Things definitely vary depending on where you are located in the state. However there absolutely are still good deals to find and attract by off market mobile home sellers. Keep in mind that if delete is already on Facebook it is probably picked over already or not a very good deal. Most of the deals we close on are not listed online yet. We put in a good deal of effort to attract sellers at the time when they decide they need to sell or they need to move fast. There will be more California based investor podcast episodes coming up. However I would encourage you to stop sitting on the sidelines if that is what you are doing. All of us are only getting older in life and the time to take action is now. If you have any follow up mobile home investing questions now or moving forward never hesitate to reach out any time. I wish you all the best.
Talk soon,
John
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