Welcome back,
In today’s mobile home investing lesson podcast #48 you’ll hear from a new father and son investing duo. These newer mobile home investors have been having recent success wholesaling and flipping mobile homes to happy cash buyers. These investors even have cash-flowing mobile home properties located in safe and populated areas.
None of their success came by accident. Wayne Sr. and Wayne Jr. dedicated themselves to learning this mobile home investing business. They are successfully making a name for themselves locally.
Special thanks to Wayne Sr. and Wayne Jr. for hopping on today’s podcast to help other mobile home investor’s they’ll likely never meet.
Wayne Jr. and Wayne Sr. got started with little real estate knowledge and zero manufactured home investing experience. What they lacked in experience and knowledge, they more than made up for in desire, motivation, and persistence to learn everything they could about the mobile home flipping business and how to safely help others.
Wayne Jr. & Sr. wanted the best mobile home education they could get as a mobile home investor.
Watch and listen to today’s podcast for a clearer picture of what your mobile home investing business can look like in 2024.
Whether you are investing in mobile homes full-time or part-time, the goal is to help others while creating a substantial profit for yourself. The more people you help the better your reputation becomes, the more your knowledge grows, and the more people we can continue helping.
Related article: How to not overspend on mobile homes?
Some say mobile home investing is the most affordable way to break into a real estate investing career. Decide for yourself if mobile home investing is right for you. Sign up for a FREE membership to learn more about mobile home investing here.
In conclusion, mobile home investing takes hard work and typically daily effort to make a consistent name for yourself and help multiple buyers and sellers monthly. You will never learn everything you need to know about real estate investing from reading books or watching videos. While there are many ways to make money in real estate, there are countless ways to lose profits as well. Have fun and take daily action to reach your financial goals sooner rather than later. If you have questions, please ask them. There are plenty of active investors around to give you help and guidance if you simply ask for it.
Love what you do daily,
John Fedro
Support@mobilehomeinvesting.net
Hear John, Wayne Sr and Wayne Jr’s Podcast here…
Podcast: Play in new window | Download
Subscribe: RSS
6 Comments
Doug Landeros
January 31, 2024Very well done gentlemen! Great video!! Just awesome as usual!!! 👏🏾 👏🏾 👏🏾
John Fedro
February 1, 2024Thanks for watching Doug! I’m super proud of these guys too. There’s a lot more ahead for them too. Any mobile home specific questions you have moving forward never hesitate to reach back out anytime.
manuel garcia castro
February 6, 2024hi john. in kentucky i try to buy a mobile home in a park. manager tells me there is no renting allowed in the state of kentucy. is this true. also what can be done to rent mobile homes for income. not sure if this is true or lying to me. do you know? please help.
John Fedro
March 4, 2024Hi Manuel,
Thank you for reaching out and connecting. Great job already getting through some mobile home parks in your state and speaking with the park managers. This manager was definitely leading you a stray. There is no law in your state that mobile homes cannot be rented inside preexisting mobile home parks. The mobile Home Park is owned by one person or a corporation that makes these decisions. However, it is very true that around the country most mobile home parks do not allow renters in the community. They are renting the home themselves of course. There are some parks around the country that absolutely do allow rent in, and usually more around military bases that allow renting as well. However for the most part the park owners only want owner occupants inside the properties. This means that most of the time you can sell with owner financing payments. Means you collect a down payment and monthly payments from your potential payment buyer. If the park does not allow renting, then there is likely nothing you will be able to do to sweet talk them into having you allow renters in your home. You may either sell the home for cash, bank financing if possible, or via a payment schedule to the new buyer. Many parks do not want renters because renters will bring down the community and not truly love a home or their neighbors like a homeowner will. I hope this helps and makes sense. Forward if you have any follow U mobile home related questions please never hesitate to reach out anytime. Keep up the great work.
Talk soon,
John
Sam Teller
February 8, 2024Hello John! I am a MOBILE HOME investor and I saw your YouTube video where you were explaining lost mobile home titles no gator plates no van and no hud label. I have a question if I wholesale a mobile home and the new buyer purchased the mobile home with just a bill of sale how does the city keep up with who’s gonna pay taxes on that home? The person whose name is on the title is deceased, and the husband cannot find the title and wants to sell it as a bill of sale. Who pays the taxes on that home?
John Fedro
March 4, 2024Hi Sam,
Thank you for reaching out and connecting. Additionally, thank you for watching some of my youtube videos. Hope that these videos have been somewhat helpful to you already. Great question about who pays the local property taxes. In many states there are personal property taxes that have to be paid every year and this is typically the responsibility of the mobile home owner. However in some states the landowner pays all of the real property and personal property taxes. However, going back to your question about who pays the taxes When the legal title is not transferred at the state level is a very good question. In your example the mobile home was transferred with only a bill of sale and nothing was recorded with the state. Means that legally the previous homeowner that sold the home or is now deceased, is still actually the legal owner of record. I have learned that in some states the yearly taxes simply do not get paid. They do not get paid and they keep accruing, and the state does not ever be home or the resident. In other states the new buyer may go down to the local county tax office to register the home with the local municipality. This is because the local government and the state authority do not seem to talk to one another. The local government only cares that they are collecting money for this mobile home regardless of who is physically untitled. With regards to some mobile homes, the state or the local county may not even know that the home is physically there. However eventually if they do drive through the community or spot the home, they could ask questions and realize they have not received tax on this property ever or for many years. Keep in mind that if someone does obtain clear title and tries to transfer the title at that point, most or all of these back taxes will need to be paid in full before the title can be transferred. This is a bit of a vague answer and I am unsure of the state you are investing in however I do hope this helps and make some sense. If you have any follow up questions please never hesitate to reach back out anytime. All the best.
Talk soon,
John
Leave A Response