Welcome back,
In today’s Mobile Home Investing Lessons podcast #56 we are talking to active Mobile Home Formula investors, Michael and Brian. Brian and Mike live and work full-time jobs in Manhattan, and commute to their mobile home investments out-of-state.
These 2 best friends have been mobile home investing in New Jersey, Pennsylvania, and Maryland since beginning working with John in 2023. In this short time working together these two investors have closed 7+ mobile home flips for 5-figure paydays.
In addition to making money Michael and Bryan are learning every step of the way. All this while actually helping local mobile home buyers, mobile home sellers, and mobile home park managers. These two investors are even working directly with and helping local mobile home park owners to fix their unwanted vacant mobile homes.
Use the time markers below to fast forward the podcast above.
- ✔️0:00 Intro
- ✔️0:30 Before mobile homes
- ✔️4:10 Easy or Hard
- ✔️5:00 Deals complete
- ✔️6:10 Problems to overcome
- ✔️8:00 Park manager pro tip
- ✔️9:45 Pushing past the no
- ✔️10:30 How has your marketing changed?
- ✔️12:10 Investing out of state
- ✔️15:10 Hours per week?
- ✔️15:50 First deal stress
- ✔️19:40 Have you ever wanted to quit?
- ✔️21:50 Win-Win deals
- ✔️24:00 2nd deal story
- ✔️31:10 Working with a partner
- ✔️32:40 Corporate VS mom and pop
- ✔️35:45 Advice for your former selves
Pushing past the few negative park managers to talk directly with park owners.
Brian and Michael do not give up easy. When a door is closed in front of them, they look for a way in through the window. This is no more evident than when a local park manager told them that they were not able to purchase a used mobile home from a seller in the park that was being evicted.
These two investors use the LinkedIn, the white pages, and skip tracing tools to track down the mobile home parks regional manager to talk directly with the person in charge. The regional manager welcomed these two investors with open arms.
When you know you have a very good deal in front of you, definitely push hard to make it happen. Where there is a will, there usually is a way.
Sacrificing the time needed.
The time definitely has to come from somewhere. Even if you plan to invest remotely out of state or only focus on wholesaling mobile homes to start, aim to have at least 15 hours set aside per week. Five of the hours can be at night, but the rest need to be during the daytime any day of the week or weekend.
Building a safe and thriving business does not happen by accident. It does not happen without focus and weekly commitment. Again, 15 hours a week at minimum. If you have more hours or many more hours than that, then they will definitely be used while you are building your business for the first six months or more. After that more things can be outsourced and delegated out.
Getting paid to learn.
Michael and Brian mentioned this in today’s podcast. They are making money while they are learning to invest in real estate and mobile homes. Brian and Michael are buying mobile homes through tax deed sales, mobile home park managers, online advertising, offline advertising, and more.
Besides the monetary gains these guys are making, they are also learning a great deal about people’s skills and dealing with buyers, sellers, managers of communities, handyman, contractors, and more people that we run into on a day-to-day business. If you have not invested in real estate before, be prepared to improve and grow as a person.
In conclusion, 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.
Mobile home investing should not be exciting, but rather a predictable, safe, rewarding and profitable business. 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
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2 Responses
Just discovered your website and have been devouring podcasts for the last two weeks. Thank you for already answering some of my previous questions. Can you please talk more about how these investors found the park to go directly over the managers heads? How did they do this and any other help would be appreciated? Is this common? These are some of my questions at the moment. Thank you in advance.
Hi Travis,
Thank you for reaching out and commenting. Hope the video podcast was helpful for you. If you are investing for a couple years or more you will definitely run into scenarios where park managers are boxing you out of the park, not approving you for some reason, perhaps they are being jerks for some other reason, etc. However most of the time park managers will be normal and somewhat happy to have you there since you are basically free help for the community when they trust you and you know your value for the community. However some managers are very difficult and we would like to talk to the owners for one of a number of reasons. Keep in mind that even if a park manager does not want you there, you may still be able to wholesale the property or partner with the seller in some way where you take the title and they remain on the lease until you resell the home.
However with regards to your question, they the general manager and park owner through Linkedin and I believe a search on the White pages. There is also a very good app called Forewarn if you are in the real estate business. This app lets you find out more information about people. I hope this helps and points you in the right direction. Again, this is a good trick to have up your back pocket, however we normally never need to go above the manager in the first place. Not to mention there are likely hundreds of parks around you, so if one of them does not want to work with you there will be plenty of others that do. Moving forward if you have any follow up questions never hesitate to reach out anytime. All the best.