Welcome back,
In today’s video we are super proud to welcome Shaun and Pamm to the Mobile Home Investing Lessons Podcast. It is hard to believe we are already on mobile home podcast episode #51. Today we have an exciting episode ranging from starting challenges, shady sellers, working full-time, handyman advice, being married, and how to build great relationships with mobile home park managers.
A huge Thank You to Pamm and Shaun for joining me on today’s Mobile Home Investing podcast. In the podcast episode below this married investing power couple provided a huge amount of mobile home investing value simply to help other mobile home investors. This giving nature definitely shows in their mobile home investing as well.
Shaun and Pamm’s motto, “Under promise and over deliver.”
Pamm and Shaun go from beginner to success with mobile homes. (How they did it?)
- 0:00 Welcome Shaun and Pamm
- 4:00 What are your day jobs?
- 8:45 When did your business change?
- 14:30 Selling for cash VS. monthly payments?
- 16:00 Handyman special VS. Bigger repair project homes?
- 18:20 Any bad deals?
- 20:00 Working with mobile home handymen?
- 24:00 Dealing with confrontation?
- 28:20 Why do parks work with investors?
- 31:15 Handyman Dos and Don’ts?
- 36:30 What is your 5-year plan?
- 40:00 What’s been your highest profit deal?
- 44:00 Why mobile homes?
- 52:00 Sourcing discount flooring?
- 53:00 Overcoming troubles?
- 59:00 What ways have you improved yourselves?
- 1:04:40 Advice for other mobile home investors?
Quality In & Quality Out
Shaun and Pamm talk about the pursuit of their first deal before they were official mobile home investors. They describe occasions where they are able to invest in used mobile homes without making any repairs at all. Some homes can quickly be flipped for a healthy profit with no rehab needed. However, some homes absolutely do need repairs completed, cosmetic and more structural.
Shaun and Pamm have always fixed homes a bit more than the average mobile home investor. Shaun and Pamm standout and shine in their local market compared to other mobile home investors.
- ✔️ Where other mobile home investors fail to communicate with the local park management, Shaun and Pamm keep in great communication with park managers.
- ✔️ Where other mobile home investors do not follow up regularly, Shaun and Pamm continuously follow up with mobile home sellers.
- ✔️ Where most mobile home investors fail to fix mobile homes before they resell them, Shaun and Pamm seem to always fix what is broken. This way they many deliver a high-quality product to a well-paying cash buyer.
Tip: Like it was mentioned in today’s podcast, humbly brag to the manager when you do make repairs to the inside of the mobile home. Show off what you did.
Compromise & Vision
Pamm and Shaun really open up about difficulties they had while first investing in mobile homes and growing their flipping business. Both of these investors love each other very much, yet growing a successful business like this together is brand new for them. This married couple now has been figuring out how to work together peacefully and productively on the fly.
Towards the end of this podcast Shaun and Pamm talk about the secrets that have helped them grow closer in marriage while building a successful mobile home investing business together.
In conclusion, mobile home deals rarely fall into our lap as newer mobile home investors without hard work and daily effort. After you’ve built up a noticeable reputation for yourself and made hundreds of purchase offers, opportunities have a way of finding you more and more. In the beginning of your mobile home investing career the majority of your time and effort should go towards building your reputation, networking, and specific daily and weekly advertising.
Mobile home investing should not be thrilling, but rather a predictable and safe business. If you are taking action regularly then you should absolutely have questions about mobile home investing almost daily.
Moving forward when you have any mobile home related questions never hesitate to comment or reach out to the email below.
Love what you do daily,
John Fedro
Support@mobilehomeinvesting.net
Listen to John, Pamm, and Shaun’s Podcast here…
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4 Comments
James Meacon
August 6, 2024This video has certainly helped. I think the Trouble with mobile homes is the lot fee one must pay every month while trying to sell the mobile home.
John Fedro
August 15, 2024Hi James,
Thanks for commenting. Agreed, the park always wants its lot rent every month. It does surprise me when I do see a mobile home park that is friendly and works with the residents without evicting when they don’t pay a month or two. However most parks will definitely evict after 30 days of non payment. Moving forward if you have any mobile home related questions please never hesitate to reach out any time.
Talk soon,
John
Caitlyn Altistude
September 23, 2024Hello!
Am going to show my husband this video. In the meantime I read your post/information regarding the transfer of a mobile home in Washington state. Do you know how to go about transfer if the buyer is out-of-state? Thank you!
Caitlyn Altistude
John Fedro
September 24, 2024Morning Caitlyn,
Very good to hear from you. Thank you for writing back. Understood about the home being located in Washington state. Once the buyer has done all their due diligence then the buyer and seller can both sign a purchase and say agreement outlining the details of the transaction. At that point a notarized Bill of sale can be sent over to the buyer via mail. Once the buyer receives this then they can send the money over to you through a wire depositing into your bank account, or Zelle. Once you receive the money then you can send the buyer the signed title and keys. This is how we typically do things when the buyer is out of the state. However if the buyer wants to make the trip all the way to Washington or has a friend locally that can accept the money then by all means this could work as well. At this point it is important to call it the local tax department to let them know that the home has been sold and is no longer in your name. There are definitely a multitude of other ways to do this remotely, however as the seller this is one of the most common. Keep in mind, that if you are buying a mobile home I would encourage you or anyone listening not to simply trust a buyer and send them over the money without the title. In fact, if you are a mobile home buyer or investor, try not to ever pay any money directly to a seller without receiving the title in hand. Unless you know there is no title and that you will not be purchasing one in the first place. I hope this helps and points you and others in the right direction. As always any follow up mobile home related questions, closing, or title questions never hesitate to reach out any time.
Talk soon,
John
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