How to find lower priced mobile homes in higher priced areas?

April 3, 2014

Welcome back,

The purpose of this website is to help bring clarity to your mobile home cash flow investing business. Before we can discuss how to properly evaluate, negotiate, buy, sell, repair, manage, close, or move a mobile home we have to first understand that our cash flow only increases whenever we create value and find a mobile home to purchase for investment. Finding profitable and inexpensive mobile homes is key for your investing business to grow and thrive.

The video below was recorded beach side and outlines the answer to,

“If I can not find any mobile homes for sale for less than $40,000 in my area can I still make this business work?”

The answer is Yes.

If you are a motivated and determined investor that does not mind going the extra mile to create wealth for yourself than almost anything is possible. Use the common sense approach we outline in the video below for finding areas with lower priced manufactured homes inside local parks.

What this video is missing?

Knowing which parks are the best to work with for beginner investors. Knowing what purchase offers to make to each seller. Knowing which mobile homes will create the most value for you moving forward. Profitably working with a park manager to achieve your goals together.

Things you should have learned:

In high priced areas you will pay 3-4 times the price for the same mobile home located just a few miles away in a lower priced area.
When starting out look for areas with parks that have average lot rent around $300-$550 per month.
Be willing to drive up to 60 minutes away from your home to find profitable deals. Start local then expand outward.
If you live in a hot-spot area you will find that driving to the next smaller city or suburb you can often times find parks/communities with lower lot rent, more homes for sale, a reduced asking price average, and less cash buyer demand (all good things).
Even in hot-spot-over-priced areas it is valuable to know the park managers and other power players to be able to capitalize on deals from high priority sellers that come to market from time to time.
If sellers are advertising $1,000-$3,000 for their mobile home there is a good chance the home will be worth less than what they are asking. The goal when investing in mobile homes is to invest in mobile homes worth $20,000 or more for a fraction of the cost.

In conclusion as you read these words there are sellers around you right now that want your help. Some sellers even need your help, are scared, are frustrated, are confused and unsure about their options and how to move forward to sell their unwanted mobile home. It is our jobs as investors to educate, care about, and help sellers as best we can.

Once you understand your local market, local resale values, and this business be confident and take action daily to provide value to sellers and buyers. If you have any additional questions about how to find lower priced mobile homes in your market please do not hesitate to reach out below.

Love what you do daily,
John Fedro
support@mobilehomeinvesting.net

Related videos:

David Clark
Reply April 3, 2014

Hey John,

Thank you for making this video response. I was having a similar thought in my area of Connecticut. After watching your video I now know that I need more training and skills when it comes to dealing with mobile homes sellers and this business I really want to get into. I have already signed up to be at your webinar this week.

Thanks again for this timely post.

Your dedicated reader, DC
- John Fedro
  Reply April 3, 2014
  
  Hi David,
  
  Happy to help. Thanks for commenting. See you on the webinar.
  
  John
Mark D
Reply April 3, 2014

Cool video and loved seeing the palm trees.
- John Fedro
  Reply April 3, 2014
  
  Thanks for commenting Mark. I’m more a mountains guy myself but the beach sure is beautiful in spring. 🙂
  
  All the best,
  John
Robin Gallant
Reply July 21, 2014

Awesome stuff John!

Found you through biggerpockets. I look forward to reading more. 🙂

Thanks again for all the free help.

Regards,
Robin Gallant
- John Fedro
  Reply July 23, 2014
  
  Hi Robin,
  
  Thank you for reaching out and for your kind words. I am always happy to help motivated investors better their community and their financial situations. If you need any specific help or questions answered don’t hesitate to reach out.
  
  Talk soon,
  John
Katie
Reply May 10, 2015

John,
I have been watching your videos non stop. Thank you so much for the valuable information and looking forward to the videos chronicalling the purchase of your mobile home park. Congrats!! Do you have a video or article on how to approach and speak to park managers?? I’m a bit shy so need help in this area. Thanks in advance
Katie
- John Fedro
  Reply May 11, 2015
  
  Hi Katie,
  
  Thank you so much for your kind words and I’m very happy that some of my videos have already been helpful to you. Concerning your question, yes I do have a video discussing one method we currently use to introduce ourselves to park managers. This is just the tip of the iceberg however it will give you an idea of how to properly approach park managers, as this is a very very important first interaction with every park manager. If you use the search feature at the top right section of this website, please type in “Park managers” and you will see the corresponding article and video answering your question.
  
  It is completely understandable that you are shy and possibly a bit apprehensive about making this connection with the park manager. This is certainly something we do and any and all park managers that like you and want to work with you will attach themselves to you. Any mean or rude park managers we do not want to work with and they may not want to work with us, which again is perfectly fine. We simply move to the next park manager and introduce ourselves and let them know how we can make their life easier and help their park increase its revenue.
  
  I hope this answer has been helpful to you. If you have any trouble finding the article and video please don’t hesitate to let me know. Additionally, if you have any questions or concerns please do not hesitate to reach out again.
  
  Talk soon,
  John

How to find lower priced mobile homes in higher priced areas?