Welcome back,
Once upon a time, there was a lady named Lameka who wanted to do something really special. She wanted to make money, but she also wanted to help people. She had a big dream of owning mobile homes and turning them into nice places to live while making some money. In today’s Mobile Home Investing Lessons podcast #45 we’re talking with active mobile home investor Lameka.
Facing Her Scary Feelings
At first, Lameka felt scared because she didn’t know much about mobile homes. But she didn’t let fear stop her. She decided to learn all she could about mobile homes. She read books, went to meetings, talked to people who knew a lot about them, and found a partner to learn from. Learning made her feel less scared.
Lameka says, “with passion, belief, action, and accountability, we can achieve anything!”
Helping Others and Making Money
Lameka didn’t just want to make money; she wanted to help families find good homes they could afford. She knew mobile homes could be great for that. So, she bought some old mobile homes and fixed them up to make them nice and cozy. This way, she could help people and make a profit too.
Finding People Who Really Wanted to Sell
To make her dream come true, Lameka needed to find people who really wanted to sell their mobile homes. She got good at this by talking to lots of folks and building trust. When mobile homeowners needed to sell fast, they thought of Lameka because she was local, friendly, and fair.
Selling Fast to Happy Buyers
Once Lameka had nice mobile homes ready to go, she wanted to sell them quickly. She made sure to tell people about her homes and show them how great they were. Buyers were happy because Lameka was honest, and they got good deals. She sold mobile homes for all cash and others for monthly payments.
You Can Do It Too
Lameka’s story shows us that even if we feel scared, we can still go after our dreams. If you’re interested in mobile home investing like Lameka, start by learning more about it. Talk to people who know about it and continue learning. Don’t let fear stop you. Use it as a way to make yourself better.
Lameka says, “Whatever your goal, stay focused and take action to make it happen.”
Lameka’s adventure is proof that we can do amazing things when we try. You can follow in her footsteps. You might even discover that you can help people and make money at the same time. So, don’t be afraid, start your own adventure in mobile home investing!
In today’s Mobile Home Investing Lessons Podcast #45, we uncover:
- ✔ 0:00 Welcome Lameka
- ✔ 1:10 Mobile home investing VS Youtuber
- ✔ 2:00 Multi-passionate Entrepreneur
- ✔ 2:30 Real estate investing crash
- ✔ 7:00 Learning a new business.
- ✔ 9:00 Invest without ever seeing the mobile home.
- ✔ 11:00 Keep the home and rent the land.
- ✔ 16:45 Park manager relationship.
- ✔ 18:40 Investing safely
- ✔ 24:10 Buying or Brokering?
- ✔ 28:00 Working with banks.
- ✔ 31:00 Deal breakers when selling.
Do you have a mobile home investing question we didn’t cover? We’d love to hear them below.
Thanks for following along. Check out the podcast episode below. We hope it helps you and your mobile home investing business. The more investing questions you get answered, the clearer things become.
Love what you do daily,
John Fedro
support@mobilehomeinvesting.net
.
Listen to John and Lameka’s Podcast here…
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6 Comments
Nancy
September 11, 2023hi i had a couple questions please. I live in AZ and I have my manufactured home up for sale with a realtor but i am moving to connecticut and the home hasnt sold yet. I have the title and i will have the bill of sale when get to the point of selling it but in your article it says i need to have those documents notarized when i sign them to proceed with the sale. do i sign my section of the title before hand and leave the title at the property before i move to connecticut? do they need my original title or a copy . can i do all this from connecticut ? but how ?and how about notarizing the bill of sale? i will be out of the state ? i am soooo confused . please explain if you will .thank you. nancy
John Fedro
September 18, 2023Hi Nancy,
Thank you very much for reaching out and connecting. Understood about your moving from Arizona to Connecticut. This is certainly a big move. I am happy to tell you that there are answers for every single one of your questions. Both Arizona and Connecticut will want these titles to be transferred correctly and will likely help you moving forward. This situation has absolutely happened time and time again. Because you are talking about a specific home I would definitely encourage you to talk directly to the states title transferring department with your particular mobile home in mind. Call up the MVD in Arizona with your mobile homes VIN or serial number. Explain to them your situation and that you will be leaving the state. These forms can likely be pre-signed or you may be old to give someone a power of attorney as well. I do not want to give you any wrong or misleading information based on your specific mobile homes so I would encourage you to hear this directly from the horses mouth yourself. Any follow-up mobile home related questions never hesitate to reach out again or contact the state directly with your mobile homes VIN. Hope this helps and points you in the right direction.
Talk soon,
John
Luna
September 18, 2023Trying to make a purchase in the state of Pa. There is a 1991 double wide on the property. I don’t know if the title has been surrender. The bank that’s doing the mortgage for this purchase want a surrendered title of a copy of the title. The current owner said they never got a title for the mobile home. Dept of transportation has no record of the title.How do i get a copy of the title or proof that the title has been surrendered? Thank you
John Fedro
October 9, 2023Hi Luna,
Thank you so much for reaching out and connecting. Additionally, thank you for the detailed comment as the certainly does help me understand your situation a bit better. Congratulations on trying to make this purchase. I’m not sure if you have the situation resolved yet or not, however this unfortunately happens time and time again. Many banks have underwriters that do not understand that when he mobile home title is retired or given to the state, that there is no more title to speak of. In the past I’ve seen situations like this frees up the banks and not allow the loan to go through for the new buyer. There may be a couple ways to move forward, however if the bank absolutely wants to see a title for the mobile home then there may have to be a new title printed out as personal property, then everything changed back to real property. However doing this might cause a problem with the bank as they do not want to lend on real property but rather real property only. To change the mobile home from real property back to personal property for a short period of time, this process usually starts at the tax collector or property appraiser’s office. You may also want to contact two or three local mobile home tag and title offices to see if they would be able to help providing you a title even though your mobile home is considered real property. This is just two suggestions however I hope that they do help and points you in the right direction. Any questions big or small, or follow-up questions please never hesitate to write back anytime. Happy to help if possible. All the best.
Sincerely,
John
Sue Hidinkl
November 20, 2023She seems like she genuinely loves this business. Love her ambition and excitement. Can this be done anywhere in the country. Can this investing be done without having to see the property or go there myself. Thank you in advance.
John Fedro
November 21, 2023Hi Sue.
Thank you for reaching out and connecting. Yes, Lameka is definitely an inspiration to me as well. Whenever I speak with her I typically get a jolt of excitement and motivation to keep doing more. It is amazing she is juggling everything she is able to do. With regards to questions about this being done remotely and/or without you ever seen the property, the short answer is absolutely. However, because the deal is remote number of things will change. Most everything will be done over the phone, electric digital signatures, hiring someone locally to inspect the property and do one or two other things, but she will still need to speak with the local community manager (assuming that the mobile home is in a community). The mobile home is not in a community then this brings up a handful of other questions. However all of these questions have answers if the deal is safe and very reasonable then by all means can likely be done remotely. You may also be able to partner with a local and very trustworthy experience mobile home investor if you happen to know one or connected with a local investor in the area of the subject property. There are still so many things left to talk about, with regards to marketing and advertising both to find the sellers and also to attract buyers. You are doing things remotely this changes up some for sure. But again the short answer is, where there is a will then there is a way. However it is important to know what you are doing move forward with safe and predictable opportunities. This is a bit of a vague answer however I hope it helps some and points you in the right direction. Any follow-up questions never hesitate to reach out anytime. All the best.
Talk soon,
John
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