Mobile Home Investor Q&A #5 – $3,000+ Per Month Cash-Flow, Brokers, Evictions and More Mobile Home Investing

Hi Marcus,

Thank you for commenting and for your kind words. You bring up an absolutely valid concern that every area of the country is a bit unique in its own way. With that said I’m very happy to say that from East Coast to West Coast, North to South, an educated mobile home investor will be able to help sellers and purchase properties inside parks for $5000 and below. However the demand, closing procedure, paperwork, repairs needed, etc can change from state to state, city living to county living. Pennsylvania is a good area for this type of investing in most areas throughout your state. Please use the search feature in the top right section of this website. Search the word, “Val”. Valerie and I have recorded a few lessons and podcasts together. Also, check out this YouTube video with another local investor in your area. https://youtu.be/IT31a81hV7I Please keep in mind I do not want to paint a rosy picture that mobile home investing is easy, to the contrary, with hard work and daily effort there are absolutely sellers to help locally and a strong buying demand from hard-working folks seeking affordable housing. I hope this all helps and makes sense. If you have any follow-up questions or concerns please never hesitate to reach out anytime. Always here to help.

Talk soon,
John

Hi Corey,

Thank you so much for commenting and reaching out. Additionally, thank you so much for your kind words. You truly need more than you know. I’m very glad to hear that these articles and podcast have been somewhat helpful to you thus far. Concerning your questions, please see my thoughts below in bold.

What I’m wondering is would it be wise of me to go in the park and offer to buy all the vacant Mobile homes and fix them up and sell on payments? In a perfect world where everything works out this would absolutely be a great deal for you. However depending on how long these homes have been sitting vacant they may need inspections prior to the power being turned back on. Additionally, it is unwise to buy any mobile homes without knowing how much buyers will pay for them while reselling. Additionally, we want to be sure we have a crystal-clear plan to work with the park owner so that they can give you free lot rent until these homes are sold. If the park is as dumpy as you say then this owner sounds like they may have money issues or be greedy in the fact they are not making any needed improvements. Instead of purchasing every home, I would suggest that you purchase a large three bedroom home that needs the least amount of work possible. If you are able to sell this one for profit than by all means you can move onto the next. With that said you want to make sure your paperwork is in your favor and you have very good terms and free lot rent while moving forward. There is much else to say however this will get you in a good position to invest safely. What my main worry is that no one will want to live there cause it is kind of dumpy. Understood and agreed. This is a very valid concern. But what my point is that if I fixed up the majority of the vacant Mobile homes it wouldn’t be so dumpy.. The park owner may love this idea or simply ignore you. Either way it does not hurt to sincerely ask to help. My wife does not agree with me lol…. Haha, She sounds like the levelheaded one. 🙂 With that said, it definitely sounds like there is value to be created in this community. Obviously the owner is not fixing these homes up, so if there is a demand then you can absolutely fill this need. Do you have much mobile home rehab experience? Would you want to do the work or outsource this to a handyman? Again, you will have to know what these homes can be resold for quickly and with what realistic terms. I hope this all helps and makes sense. There are many more questions to ask however I hope this point you in the right direction. As always, if you have any follow-up questions or concerns please never hesitate to reach out anytime. Have a great rest of the week.

Talk soon,
John

Hi Joe,

Thanks so much for reaching out. I will forward your information over to Brian and he can reach out to you if/when convenient for him. I hope this is all right. If you have any additional questions or concerns never hesitate to reach out. Have a great weekend.

Talk soon,
John

Hi Daven,

Thank you for reaching out and connecting. Additionally, thank you so much for the kind words. They truly mean more than you know. Congratulations on the successes you’ve had thus far! These are just the first few deals of many. I have no doubt that these deals did not come without a good deal of hard work and daily effort on your parks. With regards to the loan I would first encourage you to possibly seek private money from local investors at your local real estate investment associations. You definitely have enough track record to borrow some money at some favorable rates from other people. The reason I mention this is mainly because I do not like banks or traditional lending institutions. With that said if you borrow $20,000 without needing any collateral, I would encourage you that this borrowed money would be borrowed at a fixed interest rate. If it is variable or adjustable I would encourage you to pass on borrowing this money. With all this said you know your numbers and profit better than me. $20,000 certainly would not take too long to pay back especially if you are able to purchase 4-5 homes with this amount of money. Keep in mind that borrowing money is a slippery slope in my opinion and should only be done when absolutely necessary. When working with motivated sellers there are ways to create payment arrangements or sell notes to raise additional capital. I hope this helps and make sense moving forward. If you have any additional questions or concerns never hesitate to reach out any time. Keep up the great work and ambition moving forward. Keep in touch. All the best.

Talk soon,
John