Welcome back,
In today’s video I am joined with active mobile home investor, Daniel. Daniel has been successfully investing in mobile homes since 2012 and has financially helped nearly 50 families concerning mobile homes in his local community. Some of these families were selling local mobile homes while others were looking to purchase quality mobile homes to keep their families safe and warm. As active mobile home investors, we add value, change lives, and improve homes for our community and surrounding areas.
In our third Ask The Experts video, we dive into Daniel’s mobile home investing business and discover what is working and not working for him. Daniel discusses where his homes are located, how he’s finding them, local selling demand, and the 150%+ cash on cash returns he receives regularly. We also discussed tips, helpful solutions to problems, and money-saving advice for investors.
Mobile Home Investor Q&A #3 – Real Questions, Real Answers
Questions/Answers: (Times are provided to fast-forward video if needed.)
- 0:15 Daniel’s first real estate deal ever.
- 1:28 Beginner’s luck
- 1:45 When did you start investing in mobile homes?
- 2:00 How many manufactured homes are under your belt currently?
- 2:40 Daniel shows his whiteboard.
- 2:55 Are you investing mainly within senior parks or all-age type parks?
- 3:05 How many parks are you working within?
- 3:40 Are Park Managers helpful or hurtful for your investing business?
- 4:15 Are you investing in mobile homes on private land?
- 4:30 What does your average deal look like?
- 5:25 How long of a payment-plan are you typically selling homes for?
- 5:30 What repairs do you make to each home before it sells?
- 6:05 In your opinion, what is rule #1 when mobile home investing?
- 7:00 What has been the most surprising thing about mobile home investing?
- 7:30 What’s your average holding time before reselling?
- 7:37 Which method of advertising for buyers work better: bandit signs or Craigslist?
- 7:45 What is the #1 daily activity that every mobile home investor must do?
- 8:55 What is a benefit in this business besides the monetary profit?
- 10:30 Have you ever moved a mobile home for a deal?
- 10:53 What would you change or redo about your past mobile home investing?
- 11:40 What are your goals for the next 12 months concerning mobile homes?
- 12:00 Using private money to purchase future manufactured homes.
- 12:55 Have you ever lived in a mobile home? Was it helpful or harmful?
- 14:30 Sacrificing for your end goals.
- 15:25 How much starting capital does a newer investor need to get started?
- 17:40 What is Propelio?
In conclusion, real estate investing takes daily action and hard work. However if you set your mind to something and have a realistic plan for getting there, little can stop you. In the video above we talked about the art of hustling. It’s fairly obvious we are using hustling as a synonym for ambition. Almost everything can be taught to a novice real estate investor – except for ambition. If this is a niche you wish to thrive within, I encourage you to make the decision and not let anything get in your way.
Mindset Tip: Money follows value. Remember to keep your mind focused on how you may be a service to local mobile home sellers, buyers, real estate investors, park managers, park owners, realtors, dealers, repo men, etc.
A special thank you to Daniel for speaking candidly in order to give value to investors he’ll likely never meet.
If you would like to have a question asked in coming episodes please comment them below.
Love what you do daily,
John Fedro
support@mobilehomeinvesting.net
Related Videos:
.
11 Comments
Martin
October 24, 2015Hi John,
Great interview. This video and all your fre others have made it possible for me to start driving around and looking for homes in parks. When I find homes for sale they are all over $30000. I do find some that are for sale below 10000 but they all need work. I am in Phoenix and know my market it hot for these homes. Any help is very much appreciated.
John Fedro
October 24, 2015Hi Martin,
Thanks so much for commenting and reaching out concerning your issue. Additionally, thank you on the kudos for this video and previous ones. I really hope they have been helpful. Congratulations on having the guts and ambition to get out there and take some action. You will likely have a ton of questions moving forward. Feel free to keep in touch here or email me personally.
Phoenix is certainly a hub for mobile homes. You are in a great area for this type of investing. I have humbly worked with enough investors around the country to understand that they are quality mobile home deals to be purchased for $2000 and below in almost every market from West Coast to the East Coast. However these deals are typically not found, they are created through time, proper offers, and hard work. I believe I know the answer to your problem with regards to finding and purchasing quality mobile homes for a price below $5000.
I can say with confidence that the answer to your problem is that you have not been through enough parks, spoken to enough sellers, introduce yourself to enough park managers, or been to enough appointments with sellers yet. It is so important to be well known by local park managers, park owners, other investors, repo men, dealers, realtors, agents, sellers, etc. I challenge you to first know and speak with every seller (all mobile home sellers, fsbo, parks, other) and understand what they are selling and why they are selling. From this point you will be able to help give clarity to possible solutions for the seller. It is important to focus not only on the quantity of people you are talking to, but also the quality. Some deals you will close this week and others will take weeks or months to come to fruition… If ever. I hope this is beginning to make sense a little more. This business certainly does take daily effort and consistency to become well known in the local authority in your local market.
I hope this helps and makes sense. Please let me know if you have any follow-up questions or concerns moving forward. Keep in touch.
Talk soon,
John
Stan kyle
October 25, 2015Great video that that answered so many of my questions! IM currently making my way around to all my local parks and getting involved with all my sources. Awesome video John, keep them coming. I’ve learned so much In such a little time. All you do is very helpful.
-Stan
John Fedro
October 26, 2015Hi Stan,
Thanks so much for your kind words and for commenting. I’m so glad you been able to gain value from this and other videos. I’m so happy and proud when other investors take the time to come on the microphone or video to share some stories and what is working in their businesses to try and help other investors. Keep in touch.
Talk soon,
John
Martin
October 24, 2015Thanks John. This does make a good bit of sense. So I need to be more active and busy than I have been. I definitely am seeing homes for sale below 10000 I am just not confident about repairs yet either. I really like you helping sellers and buyers when possible. When I have more questions I will be emailing you again.
Thanks, Martin
JOHN MORGAN
October 25, 2015HI JOHN. GREAT STORY AND VIDEO. WAS YOUR FIRST HOME A REGULAR HOUSE OR TRAILER.
John Fedro
October 26, 2015Hi John,
Thanks so much for your kind words and for commenting. The first time I ever lived in as a baby was a wood frame single family ranch style house. To this day I have still never lived in a mobile home. However my first investment property was absolutely a mobile home. First in a park and then very quickly attached to its own private land. I hope this helps and makes sense. If you have any follow-up questions or concerns never hesitate to reach out anytime. Always here to help.
Talk soon,
John
Mike
December 12, 2015You give a lot of good information and insight. Thanks for all you do.
John Fedro
December 12, 2015Hi Mike,
Thanks so much for your kind words and commenting. If you have any specific investing questions moving forward never hesitate to reach out anytime. Always here to help.
Talk soon,
John
Daniel Moore
June 11, 2016Ha! First time I’ve watched this. Never enjoy seeing myself on video, 🙂
John Fedro
June 12, 2016Hi Daniel,
Thanks for watching and for agreeing to share some time with me and others. Additionally, thank you for being so candid and open in this video with regards to what is and isn’t working in your business. This video has absolutely been helpful to a number of other folks already. Haha, I had to chuckle a little bit about your comment that you never enjoy seeing yourself on video. I know that feeling. It certainly looks very good from what I can see. 🙂
Talk soon,
John
Leave A Response