How to Find Mobile Home Parks?

Welcome back,

One of the first Action Assignments I teach brand new mobile home investors is to go after the “lowest hanging fruit” with regards to mobile home sellers. These “low hanging fruit” represent the easiest and most profitable deals for you invest in within your target investing area. I aim to teach low cost methods for attracting and finding used mobile homes for investments.

A free method for finding these deals is simply to Cruise for Cash and start driving your local neighborhood mobile home parks, but what parks and where do you find their addresses? Keep reading...

Prescreening the parks you will be driving through will cut down on wasted time and unprofitable parks. In most areas it would be ideal if your first few deals fit the criteria below. This will help follow the path of least resistance while learning this business.

1. Owner-occupied mobile home park (we have no interest in parks that only rent mobile homes)
2. All ages welcome
3. Pet friendly
4. Average lot-rents for county (in lower 60% of price ranges of local lot rents)
5. Individual mobile homes are not listed with a Realtor or Bank
6. Asking price is under $25,000

Map where you will be farming via Google directions then head-out and cover your investing radius. Do not be concerned with speaking to park managers until you have properly trained on how/what to say and what not to say on your 1st meeting with a park manager as this meeting is crucial. Collect as many “For Sale By Owner” leads as you can before calling each seller to set your 1st appointments with as many motivated sellers as possible..

Steps after you collect your first 25-50 leads:

1. Collect leads
2. Prescreen homes and sellers over phone
3. Set appointments
4. Craft 2-4 valid purchase offers
5. Hear sellers likes and dislikes
6. Put seller into a Automated Followup Sequence until the seller accepts your offer, makes a counteroffer, or sells the home to another party. (if applicable)
7. Once sellers agree to price/terms begin to market for buyers before you close
8. Generate and print closing paperwork
9. Close on the property in your Personal Property Trust (new trust for each property)
10. Make any repairs needed
11. Resell mobile home for monthly payments, rent, or all cash.

This entire process starts with you taking action. The next step is attracting and finding these already motivated and ready-to-sell leads from local mobile home owners in your local communities.

Why should I gather 50 leads before making calls to these sellers? Let’s look at the big picture of your success…

1. Out of 50 FSBO leads you can set up 10-15 appointments with qualified sellers.
2. Out of these 10-15 appointments you may close on 1-3 mobile home immediately.
3. The other 47-49 sellers that originally said “no” to you will now be placed in your Automated Followup Sequence. Overtime some of these sellers will come back to you when exterior-forces change in their lives and now they have to sell.
4. At this point the seller is ready to accept your Win-Win offer and you may close on another profitable mobile home.

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

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