Mobile Home Formula Investor Interview – 6 Deals in 4 months

Welcome back,

Let’s talk real world manufactured home investing. Investing in any type of real estate takes dedication, understanding your clear plan, some capital, and persistence.

Stuart Bateh has all of these attributes. I am so proud of where Stuart came from and where he is today. His journey from 0 deals to 6 deals in 4 months did not come without hurdles. He has 3 more deals in the works and doesn’t plan on slowing down anytime soon.

Below is a Mobile Home Formula investor interview with some important take-aways from a recent video interview with Stuart.

Part 1

1. You will make mistakes. Run past them. Focus on your goals and not the hurdles.
2. Know and network with local park managers to find local deals in each park. Be friendly and helpful always.
3. Look for good quality homes. We often invest in 1980’s, 1990’s, and 2000’s model homes.
4. Plan to make most or all of your invested money back within a few months or less.
5. Local apartment rent is a good comparison for what you can sell a mobile home for monthly.
6. Know and understand your market in 2 weeks or less.
7. If you can follow directions you can make money using the Mobile Home Formula.
8. Be prepared to pay all cash or wholesale a mobile home if you cannot arrange payments with a seller.

Part 2

1. Pay the minimal purchase price with an all cash offer.
2. Never insult a seller. A seller should not get mad at you for making any offers to purchase their mobile home. A seller’s mobile home is often times their biggest purchase and asset in life. A seller’s home means way more to the sellers than it will to you.
3. Know how to create winning offers and how to present them properly. Introduce your offers early on and start stair-casing the offers with the sellers. As Stuart says, “Don’t waste the seller’s time.”
4. Seller should always be happy when they sell their mobile home to you.
5. Give the sellers options to sell that do not make you money. Be helpful and educate every seller with what you know and what you have learned about your market.
6. Often times we are the sellers “Best worst option”
7. Treat every seller with respect.
8. Let a seller know, “Your home is not worth what I am offering you, our purchase offers are only what we can pay based on our experience, your home condition, and the current market.”
9. Sometimes sellers will sell to other buyers and that is OK. Always be happy for the sellers if this happens.

Part 3

1. You cannot predict where lightning is going to strike so make sure you are well known in the area to capitalize on all motivated and non-motivated sellers.
2. Most mobile homes sell for payments
3. Mobile home investments out perform any other investment strategies
4. Leads from other non-mobile home investors are a great source of unwanted leads
5. Take action and get started now. No one is going to push you as hard as you need to push yourself.
6. Don’t listen to negative thoughts or excuses.

Real estate investing is a predictable business when you understand how your local market works and how to proceed safely forward from your current position in life. There is no magic bullet for success however if you begin now your future self with thank you for taking action and joining a group of like minded active investors.

If you have any questions before moving forward do not hesitate to ask.

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

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