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Things to do:

1. Ask any specific questions below you need answered.   

2. Book your tickets.  

3. Come out and shake my hand.

4. Don’t forget about the networking happy-hour on Thursday 22nd. 

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Also I made a pretty funny video below for your enjoyment!  Let me know what you think… Lol

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Love what you do daily,

I do!  His name was Chris Alderson and it seemed like everyday he would ask the teacher 2-5 questions (which is a lot of questions when you’re 10 years old) about the homework or daily lesson.  Chris always had questions and looking back Chris always got the best grades in class.

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FACT: You will ONLY ask question, after question, after question, after question (and so on) if you’re committed to growing a large, long-term, and profitable MH cash-flow business.

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Here’s how… Watch this video to discover the 3 types of questions that will lead you to money:

1. Data Question?

2. Trenches Questions? 

3. Specific Deal Questions? 

—> Ask all your investing questions below this post… YOU DESERVE TO KNOW THE ANSWERS NOW.  

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.Whenever you have questions get tenacious and hungry to know the answers.   

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As I stated in my video titled 4 Traits to Long-Term Success asking question is a proverbial KEY to your success.  I see it every week in the investors that ask me clear and concise questions are almost ALWAYS the most profitable investors I help train for mobile home investing.  Like-wise I know I was a pain-in-the-neck to my personal mentors (to whom I would not be where I am without them).

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—>Ask the right question.  —>Get the right answers.  —>Move forward to ask more question.

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Love what you do daily,

What a week and weekend!  

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Recap of the week (Jan 23-26th):

1. Mailed 150 letters, attended 1 new R/E meetup to network, and Hung 20 Bandit signs – Personally
2. Called 108 sellers (only got a hold of 94) – recorded them all for my investing students
3. Set 23 appointments for 4 different student investors
4. Made 39 offers to 14 different sellers – recorded them all 
5. Verbal Confirmation with 4 sellers already (Soft-neg the rest until they sell to us or someone else)

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Making money and closing 1 deal for myself = $1,000-$6,000 as move-in fee, plus $300+ month cash-flow.

Making money for my students and hearing the thrill of a new investor understanding R/E a little better = Priceless.

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Oh and did I mention… I skydived!!! (Attached is the video)

Have you ever been? If you have or are thinking about I want to hear about it so comment below to share. 

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Talk soon,

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One of the biggest reasons I write these articles are to inform you of new and awesome money making ideas and strategies.  I’ve got a great lead…

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I just subscribed to Personal Real Estate Investor Magazine.  Have you ever heard of it?  If you have read it already or own a subscription please comment below and give us an honest review.  Personally I have never read a full copy but I have a few friends that have have been raving about the past few issues.

Here is what I can say about the magazine:  I read this month’s article about Dean Graziosi, the late-night infomercial guy, and whether you love him or hate him his customer service to his clients, buyers, and sellers is AMAZING!

This is a nation wide magazine for investors by investors that will open your eyes to the Real Estate market as a whole (nation-wide) and not just in your local market.

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Its sold nationwide in stores for $5.95 an issue.  If you click the magazine image below you can get your own 12 month subscription for a discounted about of $28.95.  <— This is the plan I signed up for to test the magazine.

They also have a complete refund if you’re not happy.

—–> Click here to see what all the fuss is about...

Transparency Disclaimer:  This is an affiliate link. When you purchase a subscription using the link above I make a whopping $5 (ohh-la-la).  The price for you is the same whether you use the link above or go to the site directly but I tell you all this because I personally know how beneficial mastering other strategies and learning about other real estate markets will help you be a more knowledgeable investor and more able to help others.

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Never stop tweaking and improving your business!

After 24 months I had it down pat.  That is not to say I am not STILL learning but by the time I was 2 years old in this business (mobile home investing) I had seen most average situations and scenarios. Compared to traditional Real Estate Investing this was child’s play with incredible returns.  After 9 months I had obtained 11 properties (all mobile homes) cash-flowing over $3,500 monthly.

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Truth 2: You can duplicate my success 10X with the proper video training.

For every for every one book or course written on the subject of individual mobile home investing there are countless books, courses, and boot-camps involving traditional real estate investing courses (in all fields: foreclosure, pre-foreclosure, flipping, short-sales, landlords, section-8, tax sales, probates, assignments, REO, etc, etc, etc). 

When I started 10 years ago I had no help, not even the mentors I was working with knew what to do with mobile homes. My first deal made me over $35,000 and the rest began to cash-flow like crazy (each netting ave. $310 per month). What I would have given for proper real-world 2012 mobile home help with video step-by-step tutorials, live demo calls to sellers, and every form laid out in full disclosure on a silver platter? Read on… 

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Truth 3: This business comes down to Stones. Do you have them?

I threw up on my first deal. If you want to hear that tail click here for a video titled Vomiting for Real Estate.  The bottom line is that it took Stones (or balls to be perfectly honest) to follow through with that first appointment with vomit flavored breath (hope you can appreciate the imagery).

So the GOOD NEWS: If you have ever said, “There is more for me in life what I am doing right now.” You could be right.  Success comes down to proper daily executed action (not money, time, or connections).

Hi, I’m John Fedro, if this is the first time reading one of my articles learn more about me by clicking here for a post titled About John Fedro. I’ve helped a lot of investors close and profit from their first deal many without cash needed at closing. Many of these students have gone on to close their tenth property or more. In addition to my own investing business I take so much pride in all the investors I have been able to guide to profitable deals and great monthly cash-flow.  

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Truth 4: There are certain advantages Mobile Home Investors have over others. 

Below is a video taken from my investing-students only website.  This website will be announced 1-20-12 and open to the public for a limited time only.   Watch the video below to catch a glimpse at how you can capitalize now more than ever!

Now is your time.

Invest with passion,

John Fedro 

ITS OFFICIAL!!!

Did you hear about the biggest Real Estate Investors Expo being held in 2012?

I just got the invitation to speak at the conference about mobile home investing.  Im laying it all out here!  Come out and have a drink with me. It’s going to be an all out investing party!  The biggest names in real estate will be there… Men and Women that are actually making a difference in this world.  If you’re not controlling property YOU MUST!!!!

Turn your stereos up!

Check out the video and comment below.

Also, if your not already a member of my FACEBOOK fan page. Click here!

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- John Fedro

Link to Purchase Tickets to Expo –> http://www.biggerpockets.com

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I wanted to make a quick video addressing the topic of “Faking It Until You make It”.  At first I did NOT agree with this Steven Tyler quote but the more and more I looked at it the more benefit I could see from this simple message to fuel each of our own INTERNAL FIRE. I would make one big change though and say “Visualize It Until You Make It” may be more key to your Ultimate Success than you Realize.

The more and more I researched this “Fake It Until You Make It” term online and in group forums the more I saw big named celebrities with HUGE SUCCESSES have used this form of visualization to motivated themselves from FAILURE to SUCCESS!

In the end I personally believe if jumping on one foot each morning gets YOU pumped to go through the day at Full-speed developing your Side Business then start hopping my friend!!

In the video below we also touch on a key factor for my own and others successes with a term called “Motivational Dissatisfaction“.  I HIGHLY recommend this technique for you too.

Enjoy,

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John Fedro

Welcome back,

My friend (the Mobile Home Park Investor King) Frank Rolfe just got done writing a negotiation-killer new article.  He has graciously allowed me to post the entire article below for your visual consumption

If you are investing in the individual homes and NOT the entire parks - fear not! This article is for YOU!

The step-by-step advice is universal about handling negotiations and Win-Win-Win deals.

Success is a Wonderful Journey

You can succeed,

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John Fedro

Frank Rolfe’s Article BELOW (A Negotiation Must-Read!)

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In the spirit of Halloween – there’s more than Goblins to worry about out there…

Many people are in such a rush to buy a manufactured home park that they forego proper due diligence and launch themselves into a nightmare that it’s hard to escape from. NEVER buy a manufactured home park without following our 30 Days of Diligence format, and obtaining the necessary third party reports, such as the Phase I Environmental Study. While there are some great parks for sale out there, there are an equal number of stinkers that you should never get involved in. So never buy a park that you don’t know inside out and that has passed every test from the Test Ad to the Phase I. It’s okay to say “boo” on October 31^st, we just don’t want you to be saying “boo-hoo”.

HOW TO NEGOTIATE A MANUFACTURED HOME PARK PURCHASE PRICE

There are many books on the market regarding negotiation. One thing they almost all have in common is that they’re wrong about the process – certainly on a big ticket item like a manufactured home park. Although you might be able to get some tips on buying or selling a used car from these materials, there’s definitely a better way to negotiate a manufactured home park.

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This is not Hollywood

Many negotiation books want you to believe that negotiation is a sales pitch – something that you can rehearse and works on everything from selling pencils to skyscrapers. They try and convince you that if you fail at negotiating what you want, it’s all your fault because you didn’t have your speech rehearsed enough, or you forgot the special gimmick that seals the deal.

The truth is that negotiation is not based on some canned sales pitch. Real negotiation – the kind that leads to contracts being signed – is nothing more than properly laying out what you want out of the deal, and listening and trying to provide the seller with what they want, as well. It’s a communication process, not carnival hucksterism.

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Win/win negotiating is always best

What is win/win negotiating? It’s the process of both buyer and seller walking away from the transaction with a happy, satisfied feeling that they achieved in obtaining their goals. It is not the type of negotiation in which one party wins over the other, either through taking advantage of the other party’s weakness in timing or other issues. That type of negotiating is often called “Russian Negotiation”, in which there is a clear winner and clear loser when the deal is done. The problem with Russian Negotiation is that it rarely leads to a deal being struck unless one party is desperate, and can often lead to further problems such as litigation since often the losing party harbors a grudge or attempts to get back at the one who has “wronged” them.

Win/win negotiation, on the other hand, is 100% based on truth and mutual respect. A win/win deal leaves the buyer and seller with a lasting bond of friendship and esteem. And – most importantly of all – only win/win negotiating has a good chance of getting a successful acquisition put together.

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Act like a consultant

Many people blow negotiations by trying to be aloof and distant – kind of a “poker face” appearance coupled with what they think are skills from a Donald Trump episode. While those may work great on-camera, nobody negotiates like that in real life. Why? Because those types of stand-off situations only work when one party is desperate to sell, or they would walk away. The moms & pops that you negotiate with do not need to sell their park to you. It’s income producing and they have lots of offers. So the whole concept of “forcing” them into signing up is ludicrous.

The more effective approach – and the one that we use – is to act like their employee, instructing them on how much they can get in today’s market, and why you are the best buyer for them. Sellers react very positively to someone who explains the realities of values and differentiates themselves from the pack. In so doing, you can also educate them on the benefits of seller carry.

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Tell the truth

We never make up problems with a park, just to get a lower price. Why? Because we have seen too many situations in which the buyer blows the deal because they got too greedy. We try to make our best offer and stick with it – not try to throw out low-ball prices looking for a sucker. If a deal works at $1 million, then we might try to offer $900,000 and see if they’ll counter. We’re not going to offer $500,000 and see if we can con them into that price. We also don’t make up ridiculous rationalizations like “the roads need $80,000 of repair” when they actually only need $200 of cold-patch. Over the years, we’ve noticed that people who try to take advantage only end up with lousy, week portfolios because the sellers with good parks don’t give them the time of day, and they are relegated to the sellers who have no other option because their park is so poor.

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Be prepared to walk away

Since you are approaching this as a win/win deal, that means that you have to make money, too.  If the seller won’t sign up at the price that works, then thank them for their time and quit. You would be amazed at how many sellers come back to us a while later and agree to our earlier offer that they refused. When you are willing to quit, it sends a firm message to the seller that the price is the top of the market. Don’t ever get so anxious to buy a park that you are willing to lose money just to get the deal done.

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Conclusion

Is a New Mobile Home a Good Investment?

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In this article let’s talk about the growing demand of SEMI-NEW (2000-2010) mobile homes in parks that are GROSSLY over financed (Owners owe more to the bank than what home can sell for) and are virtually IMPOSSIBLE to re-sell.

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Lets Role Play: You are a hard working American that desperately wants to own a home of your own but never has. The year is 2004 and there is a real estate buying frenzy! You do not have the best credit but that’s OK; banks are lending to anyone these days.  You discover that traditional real estate in your town is going for $170.00+ per square foot; however a brand new mobile home is selling for only $62.50 per square foot… Sounds good right? (Read further)

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Here’s What You Know:

1. You desperately want to own a new home to call your own.
2. You can purchase a Brand New 1,600 sqft mobile home (with bank financing) for a fourth of the price as a new block or frame construction home.
3. You do not want to purchase land because that will only increase the price you must repay so you decide to place your NEW mobile home inside a mobile home park in your local area.
4. The mobile home dealer has impressed upon you that home ownership is the American dream and the way the market is going you can’t lose!

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Knowing all this: Would you finance $50,000, $90,000, $120,000 for a new mobile home to be placed inside a mobile home park???

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REALITY CHECK!!!

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This is the exact situation many mobile home owners who bought a NEW mobile homes between 2000-2010 are in.  Many of these buyers did not fully understand the repercussions of the loan and mortgage they were signing.  Many of these buyers were not ready to be home owners.

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Unemployment on the Rise

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CNN online reports 7.9 million jobs have been lost since this economic down-turn began.  Many of the blue (and white) collar jobs that hard working mobile home owners were relying on to pay their bank loans and other bills have evaporated.  Many hard-working mobile home owners are left with little choice but to downgrade to apartment living and must try to sell their mobile homes with expensive loans.

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Downgrade to Apartments

(Many Less Expensive than Bank Financed Mobile Homes)

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In my local area a 3/2 apartment will run $950-1,050 per month.

A 3/2 mobile home bought for $80,000 and financed through a bank at 5% interest will run $719.06… Don’t forget to add on Taxes, Insurance, and Park Lot Fees (Total Approx $520 per month) For a monthly total mobile home debt payment of $1,239.06 per month… Yikes!

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OPTIONS FOR OWNERS???

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If an owner cannot pay their monthly mortgage payment then it is likely to assume that they cannot pay for the monthly lot rent payment for the park.  After 30 days of NON-payment to the park, many parks will start the eviction process to remove the home and owners in question.

1. Banks have virtually STOPPED lending to USED mobile homes inside parks. = Buyers cannot get approved.
2. Used mobile home buyers do not have the $30,000+ to pay cash for these over priced homes.
3. Banks will typically only do short sales if payments have been in default for over 90 days. (By then most owners have been removed from park for non-payment of park rent.)
4. Mobile homes are costly to move. If a home owner does not have the $1,200 to pay their monthly payment to bank, taxes, insurance, and park; then the owner will almost certainly NOT have the $5,000+ to move their home to another park or piece of land.

• Sellers with high loans on manufactured homes have little choice than to list with a Realtor and hope for a sale and/or work with their bank to a successful Forbearance or Loan Modification!

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BENEFIT TO CASH BUYERS AND INVESTORS

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Once the homes have gone through the foreclosure process they will be “FOR SALE” by the bank at a steeply discounted price.  The mobile homes OFTEN times remain in the same parks that they were originally shipped to.

• Purchasing 3 or 4 bedroom mobile homes built in 2000-2010 for under $8,000 can be a regular occurrence.  Depending on the bank, conventional financing may also be an option if you choose to purchase more than 1 home from these sellers.

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As investors we are often times the bringers of “Bad News”.  We are the ones that must be a seller’s WAKE-UP CALL to say, “Your home is NOT worth what you paid for it 3 years ago.”

A home is only worth what another will pay for it. Many times a mobile homes seller must realize that their slightly used mobile home is only worth pennies on the dollar from what they originally paid.

• Stay true to your sellers and always let every seller know how you can help and cannot help. If every time you talk to a new seller you plant seeds of friendship and help; you will be AMAZED what fruit your seeds will produce in a very short time!

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Live, Love, Invest!

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- John Fedro

Real Estate Investing: Deciding and Conquering Your Niche

Whether you are just starting to dip your toes into the ocean that is real estate, or are free diving in the great blue yonder, you need to be aware of the rules that govern your ability to maximize your success.  You have most likely heard that there are countless ways to become profitable within the huge genre that is real estate; if so, then You’re right!

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Some people like myself stumble into a niche they love, and are great at from the start of their career, while others may fail in real estate before ever truly finding what inspires them to kick butt and take no prisoners.

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This can Contribute to 97% of Investors Failing to Complete their 1st R/E Deal!

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Here are some tips to help you narrow down the search to find what is right for you.

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1. List Out Your Financial Goals Before You Start: Sit down and make a list.  A list of your short and long term “financial” goals, your skills, your abilities and your limitations.  Do you desire steady residual cash-flow?  Do you need to make cash right now?  Do you have starting capital?  Are you handy with a hammer?  Are you a good leader? Manager? Negotiator?  Like I described in a past post, “What will you do for success in Real Estate”, know what you are willing to do and not do to reach your goals.

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2. Explore All Your Options in the Beginning Mobile homes inside parks, manufactured homes attached to land, wholesale, retail, lease options, REOs, fast turning, rehabbing, commercial investing, short sales, loan modifications, Realtor, buy and hold, multifamily, foreclosure, land development, pre-foreclosure, note buying/selling, etc.  Spend a short time going through this list, learning about each and deciding if the “money making” vehicle in question will get you to your real estate goals AND make you happy in the process.

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3. Take an Expert Out to Lunch: One of the best recommendations I can make is for anyone in real estate that is currently unhappy or not as productive as they would like to be, to take a “mentor” out to lunch.  In my first week investing, I took five knowledgeable investors who were not trying to sell me some course, out for lunch to pick their brains.  These meetings gave me insight to the game, that has carried me through to this day.

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4. Do Not Spread Yourself Too Thin: I know that I am not the only one that has ever piled too much on to his/her plate.  Over committing to too many deals at one time (on more than one occasion) has almost cost you your entire bank roll.  Unless you have completed more than 15-20 transactions, it will be wise to complete one deal, get it cash-flowing, then move onto the next.

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Choose just a few areas of real estate that interest you, and run with them.  Market for your targeted properties and keep to your game plan. Do not stop marketing after you are committed to a propertyl;  if and when you find a great deal, but are too busy to act on it simply wholesale the deal for fast cash.  It is far better to make a smaller wholesaling fee and continue investing profitably, than to bite off more than you can chew and go far over budget.

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5. Become a Local Expert: Becoming an expert is really a never ending process, but when you find a niche or specialty in real estate, dominate it!  Become the best investor in your town within your desired field.  Be the expert that people are asking for advice and the name that everyone thinks of when they think of your niche.

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Always remember that your end goals and desires may continuously change.  Be open to new ideas, what may sound like a terrible investment strategy may just turn out to be a great money maker.  Keep in mind you are your own person, what works for someone else may not be your cup of tea.  Find what you want (money goals), what suites you (i.e. mobile homes) and kill it!

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Now Go Out and Dominate Your Area!

- John Fedro