MHI Lesson 12: Errors and Wins While Selling Your MH All-Cash with Special Guest Lana

11 Comments

April 3, 2015

MHI Lesson 12: Errors and Wins While Selling Your MH All-Cash with Special Guest Lana

Welcome back,

In today’s Mobile Home Investing Podcast episode #12 we’re excited to welcome to the co-hosting microphone Lana from NYC. Lana is nearing her 10th manufactured home investment and holds most of her investments just outside of New York State. Lana is one of the few investors who has made a business specializing in buying and holding mobile homes outside her state.

Over the past 18 months Lana has grown her circle of influence, helped nearly 10 families sell their unwanted homes & helping nearly 10 families own a quality home for a Win-Win purchase price and terms. Keep up the great effort Lana! 🙂

What Lana lacks in years in this business, she more than makes up for in experience helping local sellers and buyers.

Recently Lana has sold an investment mobile home for all-cash. Lana then made a series of seemingly wise decisions that lead to stressful days and late nights. Lana has been awesome enough to share with us over the next 24 minutes what these mistakes were and how you can correct them in your own cash-flow business.

Get ready to learn from someone active daily in the mobile home investing business.

In this show we cover:

  • ⭐ Mobile home investing outside your home state.
  • ⭐ Why being an immigrant may be an asset as a mobile home investor?
  • ⭐ Which exit strategies are most popular? Based on actual sales
  • ⭐ What went wrong with a recent cash buyer?
  • ⭐ Why selling your homes as-is is not always a good idea?
  • ⭐ When to include a home warranty?
  • ⭐ Aiming to always help buyers and sellers is key to a long-term business with great word-of-mouth advertising.
  • ⭐ Misconceptions of mobile home park residents? Perception Vs. Reality
  • ⭐ How to avoid making the same mistakes in your cash-flow business.
  • ⭐ and much more!

Listen to the Podcast Here

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11 Comments

  • Joey Tousignant

    Reply Reply April 3, 2015

    Really enjoyed this one John. You need to get more girls on the shoes. I live in upstate Ny and have been deciding about where to jump into with investing. There are just so many ways to go and I don’t wnat to make the wrong choice. If I had a bunch of money I would be fine, but I only have limited capital to start with. But my will is strong. I would love your thoughts about how I should move ahead when you can spare the time. Thank you in advance.

    Congrats Lana. I am sure you have earned all your success. Keep making people happy and solving problems.

    Joey in NY

    • John Fedro

      Reply Reply April 3, 2015

      Hi Joey,

      Thanks for commenting and your kind words. There typically are more men investors than women investors, however I am proud to say we have many women investors that outshine men as investors. In fact, I believe there is a perfectly good reason for this. Mobile home investing is a people based business of helping others, listening to situations, listening to problems, and aiming to solve problems in a win-win manner. Women innately tend to get this more than men. With that said there are so many great guys and women investors that are helping sellers and buyers every day around the country as best as they know how. If anyone wants to learn something then there is a way to succeed.

      I love to hear your ambition about getting started. Here is a recent video and article I made on the question. I tend to get this one often. I hope this answer makes sense to you. If you have any follow up questions or concerns don’t hesitate to reach out to me. https://www.mobilehomeinvesting.net/what-type-of-real-estate-investor-should-i-be-answer/

      Talk soon,
      John

    • Lana Bk

      Reply Reply April 3, 2015

      Thanks Joey. I just wanted to let you know that I didn’t have much capital to start off with either. I have been doing this for almost 2 years and still making mistakes and errors so it will happen but it cannot stop you from starting and moving forward.
      1. Start even if you think you are not ready but as long as it’s what you want
      2. Look for a great deal (home in decent shape that requires minimum repairs). Warning: it might take some time and effort.
      3. Make offers according to Johns system!!!
      4. Once the seller accepts your offer (something that you would not believe someone would accept for that specific home and you would have no problem paying)
      5. Make sure its okay to buy in that community and that you are approved by them if needed
      6. Start advertising and selling the home.
      7. Sign all the documents as needed
      8. Start collecting payments. $$$

      I could probably add 20 more steps to this but this is just a quick general idea of what I would do. Main of all don’t be afraid to make mistakes. That’s just the best way to learn 🙂

      • John Fedro

        Reply Reply April 3, 2015

        Great feedback and advice Lana! This is really helpful.

        Thanks again for coming on the podcast again.

        Keep up the great work you two. I’m here if you both need anything.

        Talk soon,
        John

      • Brian F.

        Reply Reply June 24, 2020

        Lana,
        as a fellow upstate NY’er, its nice to see someone from here making money in this business. As I’m sure you know NY is not exactly business friendly. I have just in the last few months started to look into this investment opportunity, and once I have finished with my current single family flip (renovating it myself, whew what a job!)I want to jump in. Just wanted to say its nice to have a little local inspiration! Also John thank you for all your great YouTube videos! Don’t know where I would be without them.

        Take Care,
        Brian

  • Joey Tousignant

    Reply Reply April 3, 2015

    Ooops.. I meant shows instead of shoes. Sorry about that. 🙂

    • John Fedro

      Reply Reply April 3, 2015

      No worries Joey. No apologies needed. 🙂

  • Lana Bk

    Reply Reply April 3, 2015

    John,

    Thank you for all the support and recognition. I really appreciate it! Looking to speak to you again soon.

  • kathya

    Reply Reply April 8, 2015

    Hi,,,,i need to buy my first place to live…but i don’t understand a lot things. …please i need help. .

    • John Fedro

      Reply Reply April 9, 2015

      Hi Kathya,

      Thanks for saying hi and reaching out. Your current confusion about real estate is only a temporary situation. I will be happy to answer any specific or general mobile home or real estate questions you have so don’t hesitate to reach out in the near future. Please go through the site and if/when you have any questions I’m just an email away. If you are currently looking for a place to live than I’m sure you will have many questions.

      All the best and talk soon,
      John Fedro

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