Welcome back,
In today’s Mobile Home Investing Lessened podcast #55 we are talking to active Mobile Home Formula investor, Jason. Jason has been mobile home investing in the great state of Texas since working with John in 2018. In this time working together Jason has racked up 100+ mobile home transactions under his belt.
Jason’s first few deals were likely his worst. The numbers were great, the location excellent, but the managers were nightmares for 2 long years.
Short Disclaimer: Most park managers are decent and helpful. Some are greedy. Rarely is one evil.
Longer Disclaimer: Here’s the approximate park manager ethical-breakdown as of today…
- 😊90% or more of mobile home park managers are very good at what they do. Most park managers are sympathetic and want to achieve an amicable solution before things get difficult with residents. Most mobile home park managers do not wake up looking for a fight. Some are amazingly sweet.
- 🤨Perhaps 9% of park managers think of themselves first and then think of the residents or investors second. Another way of saying this is that this minority of managers are greedy and selfish, and do not think very highly of their residents. Residents are a burden, not a blessing. However, we still may invest in these types of parks. These park managers are at least predictable and driven by money.
- 😈However, it is the 0.25% or less of communities where the park managers are manipulative, lie directly to your face, mislead you on purpose, steal, cheat, and truly seem to enjoy watching their residents, and you, fail for some sick reason. We avoid these parks.
Listen on Spotify: Mobile Home Investing Lessons Podcast #55
Don’t let the jerks win! Never quit.
There will always be haters when you’re building something great.
Your brain needs to be on high alert to keep out negativity. Your brain cells should be patrolling while you are awake to eliminate any negative people and thought from your life. Your future deserves it.
Keep putting in the effort and discipline needed to build a successful business from almost nothing.
New skills are scary sometimes.
Negativity is everywhere. It is so easy to listen to the negativeness, especially the negativeness coming from within. Read self-help books, go to local real estate investor groups, create a vision board, hopefully have a supportive spouse, or whatever else works for you to stay positive and keep going.
While “negative thoughts” are one thing, negative or violent people truly wishing you harm is a completely different thing. Today’s podcast talks about just that.
As an active mobile home investor, you will eventually come across…
- ✔️Park managers
- ✔️Handyman/Contractors
- ✔️Realtors
- ✔️Other investors
- ✔️Tenant buyers
- ✔️Movers
- ✔️Friends/family/ourselves
that try to…
- ❌Mislead you.
- ❌Steal from you in some way.
- ❌Misguide you.
- ❌See you fail.
Pro Tip: Clarity and profits. If you continue to push forward with your investing career, you will receive a crash course in dealing with so many different types of people. All of these constant interactions, difficulties, and negotiations will help sharpen you into an extremely well rounded and thicker-skinned investor, likely with even better judgement.
Related video: Garrett deals with a very difficult park manager, and wins. Here’s how…
Prevent this difficult-manager-problem from happening to you.
Like Jason mentioned in the video above, most mobile home park managers you meet are very considerate people. However, every so often, if you talk to enough managers, you will wonder how some of them ever got their jobs in the first place. They seem very terrible at dealing with people and de-escalating situations.
How to prevent this mobile home park manager nightmare from happening to you?
Luckily there are some ways to protect yourself moving forward. In today’s podcast Jason outlines a handful of ways to help keep you safe while buying a mobile home or actively investing in mobile homes for a profit.
- 🫸Follow your gut. Do not overlook alarmingly negative traits
- 🫸Talk with neighbors, residents, and sellers. Get insider information about the management and/or problems in the community.
- 🫸Call back often and/or have friend call to confirm level-headedness of the managers.
- 🫸Check Google reviews for patterns of difficulty.
- 🫸Verify Title and ownership belongs to park. Be aware of suspicious park manager keeping you in dark about mobile home title details.
- 🫸Perform public records searches for park managers.
Listen to today’s podcast for additional ways to help prevent you from being suckered into working with difficult park managers like the ones featured in today’s podcast.
Related video: Step-By-Step what to do with a difficult mobile home park manager.
Enjoy a long business when you treat others fairly.
A reputation takes years to build, and only seconds to destroy.
The world is pretty big; however, your mobile home investing region is pretty small.
Aim to under promise and overdeliver.
Aim to have a long-term investing business and treat people fairly. If you are okay with taking advantage of people in order to make some extra profit, find another line of work.
Mobile home investing is definitely a “people business”. As an active mobile home investor, you will be talking to strangers most days of the week. Listening to people’s problems and being a shoulder for people to vent is what we do as mobile home investors. Even in situations where you do not purchase a seller’s mobile home, you still aim to help these sellers and give them options to move forward.
This helpfulness is the same when working with handyman, mobile home buyers, park managers, park owners, sellers, mobile home movers, partners, Realtors, and more.
Help buyers and sellers solve their problems, and you will be handsomely rewarded.
Mobile home deals rarely fall into our lap without regular work and effort. Expect to work harder for yourself than you do for someone else.
Moving forward when you have any mobile home related questions please never hesitate to comment or reach out to the email below.
Love what you do daily,
John Fedro
Support@mobilehomeinvesting.net
Listen to Jason & John’s Mobile Home Podcast here…
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2 Responses
John, you’ve mentioned in a number of your videos a ‘scope of work’ with respect to engaging someone to work on refurbs, remodels, etc. Would it be possible for you to send me a copy of that document? I would much appreciate it. I have about 70 old mobile homes and have decided to start upgrading them in order to either sell them or ask a much higher rent and, hopefully, upgrade the ‘demographic’ that they will appeal to. Many thanks. Glenn
Hi Glenn,
Thank you for reaching out and connecting. Additionally, thank you for watching some of my previous videos. I really hope that they have been somewhat helpful to you already. First things first, you are incredible for possessing 70 old mobile homes. Whether you got those slowly over time or in one swoop, hopefully you are able to bring life into many of them. Hopefully they can have happy people inside of each one of them. I used to provide a number of free forms on the website. However some folks were getting confused about how to fill things out, where to file things, what to report, and more. For this reason I only provide documents to folks I am working with one on one so we can talk about everything. I apologize for this. However the scope of work is essentially a meeting of the minds on paper. It sets expectations of the job site and what work will get done, in detail, and it also says what task will get paid how much money. Keep in mind you do not want to pay contractors or handy men until after the job is done, or perhaps in draws. But certainly not up front. I hope that this is still somewhat helpful to you. Feel free to keep in touch moving forward.
Sincerely,
John