Welcome back,
First things first, we hope you and your family are safe and doing well during these weird and changing times. Second, as mobile home investors I believe we will be positioned very well to help mobile home sellers and mobile home buyers in the near future.
For the past 18 years, through great economic times and poor ones, mobile homes have performed very well when selling for a down payment and monthly payments.
Things seems to be changing rapidly and day-to-day. As investors we always aim to make the best decisions with the facts we are given. Even now it may be wise to purchase mobile homes from motivated mobile home sellers locally. These mobile homes may still be very desirable for local cash and/or payment mobile home buyers. Each mobile home, seller, park, and situation is more than a bit different.
July, 2021 Covid | Mobile Home Investing Updates
As the Coronavirus affects our mobile home investing businesses, we will do our best to update the list below. For any additional questions please email us or comment below.
Summer, 2021 Covid | Mobile Home Investing Updates
January, 2021 Covid | Mobile Home Investing Updates
November, 2020 Covid | Mobile Home Investing Updates
October 2020 Covid | Mobile Home Investing Updates
August 2020 Covid | Mobile Home Investing Updates
May, 2020 Covid | Mobile Home Investing Updates
March-April 2020 Covid | Mobile Home Investing Updates
Be safe. Be friendly to one another. Keep your eyes and ears open for sellers to help. Continue advertising and marketing. Remain calm and rational. Mobile homes will be here after this virus has passed. Any questions or concerns feel free to comment below or email directly to the address below.
Love what you do daily,
John Fedro
support@mobilehomeinvesting.net
13 Comments
Singh Clarkson
March 21, 2020hello john,
It seems to be so true. I have been investing for five years and see nothing like this. Scared for the future not sure what will happen. Thank you for making these videos. They have been a help.
John Fedro
March 21, 2020Hi Singh,
Thank you for reaching out and connecting. Very glad to hear that you have been investing for so long. Congratulations with regards to your deals and successes. I have no doubt that this did not come without a good deal of hard work and daily effort. I hope that you and your family are safe during these times. I hope that you are financially stable to whether losing a job temporarily. However hopefully this does not happen to you. As far as mobile home investing goes, I think we will be just fine. Feel free to comment back or email me directly if you have any specific questions or concerns now are moving forward. Keep in touch. All the best. Stay safe.
Talk soon,
John
Austin Hughes
March 21, 2020John, I’ve never seen your hair style on anyone else before! It’s FLY! Haha.
You helped me do my first few deals in Mobile Homes in 2016 when I was broke, that launched my REI business. Since then I’ve built up a $5MM Portfolio! Thanks for the help. I’m prepping to now dive deeper into mobile homes again and launch a new sector of my business just dedicated to mobile homes.
If you come to north/west Texas (Lubbock, TX) I am buying you lunch!
John Fedro
March 21, 2020Hi Austin,
Thanks for reaching back out and connecting. Thanks for the kind words… I’m just happy with all the hair and will keep it for as long as I can have it. 🙂
Congratulations with regards to everything that you have accomplished in the last few years. Seriously great work achieving all of this. I have no doubt that these successes, lessons, failures, and deals have not come without a great deal of hard work and daily effort on your part. Keep up the seriously great work. Very glad to hear about you diving deeper into mobile homes. Things are certainly changing, however I’m curious to see just how much things will change when this all shakes out. In the meantime keep in touch. Never hesitate to reach out any time. Great looking website as well. Is that you coming out of the home in the commercial? That definitely made me laugh, I like it. Keep in touch. Keep up the great work. Stay safe.
Talk soon,
John
Austin Hughes
March 22, 2020That was me in the commercial 4 years ago. It was a local college day on TV so all ads were 10 seconds and recognizing that school. Had to make it quick!
It’s the only commercial I’ve ever run on TV. I did it to lure out that pretty girl in there who I had just met so we could hang out… found out she loved to sing and act, so I knew she would jump on the chance to be in a commercial.
Married her at the end of last year. 😉 haha
Ericka
April 27, 2020Hi John:
Any insights or forecasts on how virus will affect values of mobile homes this year? I am thinking of investing in one now at an ok price. But my husband thinks we should wait towards the end of the year. He thinks there will be delays in price drops because the government is giving assistance to a lot of people now, but most likely that will come to an end and then people will have more problems. Any feedback? Thanks for such an informative site btw!
John Fedro
May 31, 2020Hi Ericka,
Thanks for reaching out and connecting. Additionally, thank you for the detailed email as a certainly does help me understand your question a bit better. You mentioned that you are considering investing in a mobile home for an okay price. I am curious of your exit strategy, and if you are planning to rent this home out or resell it for cash or payments. Additionally, is the mobile home on land or will you be looking for a bank financed very high-end buyer over $100,000? If you are investing in lower and mobile homes, under $20,000 or so, then you should not have any issue reselling it for a profit, especially if you are able to hold for payments. However the answer to this question is definitely it depends. I do not believe the market will go down nearly that much when it comes to mobile homes inside of parks. We will always be able to resell them for payments, however reselling them for cash or bank financing may be a little bit slower. Feel free to comment back with regards to more specific numbers on the deal and your exit strategy and I would be happy to help further as well. Keep in touch. All the best.
Talk soon,
John
Sam Hobbs
May 25, 2020I have seen mobile homes pending sales then get relisted. Two of six of them each did that three times. I am a first-time buyer and I do not know how normal that is. If it is normal then the speculation is that it is currently difficult to get a loan. I do not seen anything here about banks and loans and such. The prime rate is really down yet banks are not loaning, correct? If the slowing of loans is a factor then things are likely to get hot when the banks do make loans, especially while the rates are down. Or will the banks not loan until the rates are up?
John Fedro
May 31, 2020Hi Sam,
Thank you for reaching out and connecting. If mobile homes are listed as pending and then are relisted as active this definitely could show the buyers are having difficulty obtaining a bank loan. Many mobile home investors I work with never use the help of banks however you are right that they are being a bit more conservative with regard to lending. They still absolutely are lending in my experience, however some banks may be a bit more resistant. Keep in mind that some sellers will be patient and can wait a few more months or longer to sell, and other sellers will be frantic that these buyers are not getting bank approval quickly. If you are able to pay cash than this would certainly push you to the head of the line as there are no bank contingencies. I hope this helps some. In some areas mobile home prices are going down a bit however there are likely buyers still interested in these properties. Keep in touch. If you have any follow-up questions never hesitate to reach out.
Talk soon,
John
Mary A Hadden
June 3, 2020my dad left me his property when he passed.my boyfriend talked me n to taking my name off n put his.said so my siblings couldnt take from me. so two weeks after dad passed he paid off made ma move n forged my dads name on titles. ha also put the date my dad put n my name. my dad did not have access to titles to sign them.i have pictures of the forged titles. what can i do
John Fedro
June 3, 2020Hi Mary,
Thank you for reaching out and connecting. Additionally, thank you for the detailed comment as the certainly does help me understand your situation a bit better. I very much got to hear about the situation you are going through. Your boyfriend definitely sounds like he took advantage of the situation and probably knew what he was going to do from the beginning. With that being said I would definitely encourage you to contact the state directly. Every state has a mobile home complaint department where you can report fraudulent activity like this. You will not want to let this go. If this can be proven to the state and a new title can likely be printed and sent directly to you. Once this happens you can evict whoever is inside. I hope this helps and points you in the right direction. Keep in touch moving forward. If you have any follow-up questions never hesitate to reach out any time.
Talk soon,
John
Sheila Frazier
June 3, 2020We bought this as a salvage trailer the owner passed away and the land owner wanted the trailer moved no title was given ,,,what do I do when I want to sell it.
John Fedro
June 3, 2020Hi Sheila,
Thank you for reaching out and connecting. I’m not sure which state you are located in however you will absolutely want to talk to your local states manufactured housing department. I would explain the situation as a “hypothetical situation” when you are speaking to the clerk. However if you are able to provide a serial number or VIN that would be ideal. You could then try to understand who the current owner is, if taxes are current, and if there any current liens. Also address the mobile home is currently located in the one the state has as well. When you do contact the state mention that you are a private buyer purchasing from a private seller. If you are able to obtain clear title that is the ideal situation. Or if you do not have title and you may have to transfer interest in the home with a bill of sale. Depending on your state this will not be legal ownership however the buyer will have the keys and control and be responsible for the park lot rent. Keep in mind that without a title some mobile home parks will have a problem with the home being there. I hope this helps him and point you in the right direction. The free to keep in touch moving forward. All the best.
Talk soon,
John
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