Welcome back,
Since March 2012 this husband and wife investing team has been very active investing in individual mobile homes. Each mobile home property generates more monthly cash-flow plus significant profits. The case study for their most recent property can be found below with great results.
Deal specifics:
Listen to the Audio below to discover…
- State: Ca
- Park descriptions: Seniors only park
- Found by: Driving for dollars and contacting owner
- Financed with Cash
- Purchase price: $1,800
- Rehab cost: $______
- Found multiple cash and payment buyers in 2 days
- Resold price: $18,000
- Terms Accepted: $_____ per month for 54 months
Rehab Tricks: Using the best material from inexpensive sources to save money and maximize results. Painting hand drawn floral decorations on the walls of the bathroom and kitchen areas. Using straight branches from nearby trees as curtain rods make for a great look.
Listen in as we discuss this deal.
Before and After Photos
Over the past few months Dave and Cindy have took off and ran steadily with regards to learning and pursuing mobile homes for investment purposes. I say “ran steadily” in the previous sentence because it was not as simple as running an advertisement and making money. However it is very real and very possible to achieve success with hard work and the right support team. Dave and Cindy really love investing in manufactured homes and it shows in their final home product. Great job Dave and Cindy!
Love what you do daily,
John Fedro
support@mobilehomeinvesting.net
Related Senior Mobile Home Park Case Study videos:
11 Responses
Congratulations to you both!
I really enjoyed listening to your audio and the possibility of this being done successfully in my home state of California. It is great that you are finding these homes for sale for such low prices. The pictures look beautiful. What age is this home?
Tiffany
Hi Tiffany,
This home was constructed in the 1970’s. A 1970’s home is about the oldest mobile home we will look at inside of a park. However I have seen 1970 model look a lot nicer than 2000 model mobile home, it just depends on the specific, their cleaning and maintenance habits, and the owner’s pride of ownership in the home.
Best,
John
Hey John, This is great. I have read most of your stuff and I thought you were against investing inside all age restricted parks. Is this still accurate? Thanks, Robert
Hi Robert,
Thanks for the kind words and for following along. You are accurate,typically I do not want my members to have their first deal inside of a Senior or Age-restricted park because these parks discriminate against a large portion of our potential buyers market. However I have seen member’s using our training Formula in senior parks and with 1 bedrooms (you should know how I feel about 1/1’s) and having quick success in these situations. When you initially test in your market you will discover who your buyers are and what type of property they want. From there you can decide to pursue a senior or 1/1 if there is a demand for these homes.
Best,
John
Congratulations! Great job!
Cheers,
-D
Hi John,
I went over your material and I was excited to learn about mobile home investing. One thing I did like about your program you you still make it affordable to investors that want to learn about mobile homes. I look forward to working with you soon because of it!!! Great Job, and Thank You. (Keep Up the Good Work!!
Barbara
Hi Barbara,
Thank you for taking the time to read this and the great comment. I’m so glad you have received value in from my training already and I look forward to working with you soon too.
best,
John
Great job! is it possible to have them contact me because I’m also in CA and would like to know how it’s done here ….I have a potential deal this weekend that I need some help getting it done correctly *my first one*
I’m in Southern California. I have spoken to several park managers. The common rule is that all purchases must be owner occupied. I wonder how they got around to “flipping” these homes. Thanks.
Hi Shirley,
Almost every park will state that the homes must be owner occupied. This typically means that the person living in the home is the owner of the MH Title, as opposed to a rental or rent to own. The home in the example above is owner occupied and has always been owner occupied.
Now, if a Park Manager says, “that we do not want you working in the park” or “that you can not buy to resell homes within their park” then this is completely different as this park does not wish to work with you or has not use for an investor helping them.
Next time when a park manager tells you all their homes must be owner occupied get a clear understanding of what the PM means as you will likely be in compliance when you sell.
Hope this helps and make sense?
Best,
John