Hey gang,
It’s no big surprise that real estate investing isn’t for everyone. So many times we see things on television or in the movies and say hey “I CAN DO THAT!” and the secret is YOU CAN!
Who else wanted a Hover Board after they saw the first Back to the Future movie?
Then why do 97% (internet statistic) of real estate investors in training FAIL?
Over 10 years ago I heard a speaker talk about a simple idea… and I made the simple choice that day that changed my life in more than a few ways.
I have never heard this same information stated so clear and logically since that time and I can’t believe I haven’t made this video for you sooner.
Please enjoy!
ONCE YOU MAKE THE DECISION TO BE SUCCESSFUL YOU NEVER HAVE TO QUESTION YOUR ACTIONS. —> Your Actions will directly reflect your decisions.
Remember you live in a world of abundance… not scarcity.
- John Fedro
Leave A Reply (7 comments So Far)
Judy Wise
401 days ago
Hi John,
I am a Realtor in AZ. A seller of a 1995 single wide called me to sell his manufactured home for $10,000. He say’s he negotiable but I’m not sure what to do.
Just looking for a little guidance. I think this is a good deal and there are buyers in my area that I have found would love a place like this but I’m not experienced enough yet.
Sincerely, Judy Wise
John
401 days ago
Hey Judy,
Excellent catch. Sounds like a good deal but lets try to make it GREAT.
There are a lot more factors to consider here beside just price and location. I would be happy to help if you answer the following questions about the home and seller and Ill tell you approx the maximum allowable offer or MAO. There goes:
1. How many beds and bathrooms does the home have?
2. What is the Park vacancy rate (how many other homes are for sale in the park)?
3. You said there were buyers ready to go so that answers my next question about demand…
4. Will you be paying cash or financing or owner financing the home?
5. How do you plan on selling the home?
6. How many other investors or buyers have looked at this home?
7. What is the seller’s motivation for leaving?
After you answer these we can start to formulate some offers?
Judy Wise
400 days ago
John, thank you for taking the time to help me out of a confusing situation. I appreciate the help more than you know and I know you are busy.
The home is a 1994 3/2 that looks clean inside. There are 11 other homes for sale in the park and the park has over 500 homes in it, plus pool and tennis. The pad rent is $447 per month.
I have not decided on the payment method, what are my options if I get the owner to owner finance the home for me? What does this involve?
I would like to sell the home for payments like you discuss on your blog. I do not know the number of other buyers that have seen the home, my guess would be not many if any. This is the sellers second home and is ready to sell.
Judy Wise
Judy Wise
santa cruz real estate
397 days ago
John,
I must admit, as a Realtor, home owner, and real estate investor I never thought of mobile homes as a viable real estate investment.
Is this a play on the rental market? What about space rental cost increases?
Here in Santa Cruz County California, we have a lot of manufactured homes – on the PACIFIC COAST!!
This has got me thinking …
John
397 days ago
Bob, West coast pad rents can be high. Its important to purchase homes in communities where land rent is average ‘for your area’. Say pad rent is $700 per month, as long as you can sell the home for > $1,000 payment per month for a 2/2 or 3/2 you’ll cash flow monthly. Always remember to preform your due diligence.
In bay areas or other hot-spot type cities around the country it is important to keep holding costs to a minimum and ALSO invest in MHs on private land.
Mary Montoya
360 days ago
Hi John,
I love your videos on the mobile home business and want to learn more. How do we get the forms that you use to conduct your business? I see that you are no longer selling any of this material. Can I learn everything regarding the business from watching all your videos?
Thank you,
Mary Montoya
John Fedro
360 days ago
Mary,
Thank you for support. I do offer a 6 month coaching program that is offered by invitation only. For more information go to http://www.RealEstateCashFlowFormula.com, there you will be told where to apply for free. To answer your question about watching all the online videos to start investing? Answer: You will get some knowledge but will only scratch the surface as far as attracting sellers, crafting the right offers, negotiations, follow-up, purchases and then reselling a manufactured home. To give you an example our students have access to over 30 hours of online lessons, forms, and recorded webinars. Another “must have” critical piece to ensuring your inevitable success with R/E investing is to get yourself a seasoned mentor that can help you 1 on 1 with each deal. Whether that coach be me or someone else locally make sure you have this support system (very important).
Best of luck Mary,
John