mobile home investing lessons podcast 16

MHI Lesson 16: Who’s The Boss? Pros & Cons – Guest Damarice

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Welcome back,

While you’re investing in real estate do you tell buyers and sellers you work by yourself, with partners, for a boss or a company? What are the advantages and disadvantages of portraying yourself as an individual investor versus a company? Is this ethical? What are some actionable steps you can take moving forward? We will cover all these and more on today’s podcast.

In today’s Mobile Home Investing Lessons Podcast episode #16, I’m super proud to welcome to the co-hosting microphone Damarice to discuss how she portray’s her mobile home investing business and how this has affected her company’s growth. In this 24-minute podcast Damarice opens up her business and teaches-by-example some advantages and disadvantages when portraying your company to buyers, sellers, and park managers.

Why you should listen: Over the 1-year timeframe that Damarice has been investing she has continued to be a go-getter and self-starter. Damarice’s daily effort and passion to help others comes across loud-and-clear through in her investing, cash-flow, and the consistent deals she and her husband manage. A special Thank You to Damarice for sharing her time and personal stories in order to help investor she’ll likely never meet.

Writer’s note: I love making these podcasts. During this episode you will notice that we start off on-track with one topic, and soon our conversation segues to interesting case studies and other topics. If you have future podcast episode suggestions please fill out the quick questionnaire here, by commenting below, or emailing me personally.

Without further ado… Let’s get started!

mobile home investing deal two


Listen to the Show on iTunes

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In this show we cover:

  • Whom do you work for?
  • What to say when you don’t know the answer to any question?
  • Little things to say that portray a sizable company.
  • Damarice case study #1: Late tenants taking advantage.
  • Mindset to remember when speaking with sellers and buyers.
  • Damarice case study #2: Overpaying for a mobile home and Why?
  • Some mobile home investing lessons learned.
  • When being emotional hurts business?
  • What value mobile home investors bring to the closing-table besides money?
  • Becoming too friendly with buyers and sellers.
  • Damarice’s personal advice for YOU to avoid her mistakes.
  • and much more!

Past Case-Study Video with Damarice

Listen to the Podcast Here

8 Comments

  • Stuart

    November 20, 2015

    Very well done podcast. This is my first time listening and I really like your low-key style compared to other interviews I’ve heard in the past. This investor obviously enjoys what she is doing. My question for you is do you or your members do much business in co-op style mobile home communities?

    I will continue reviewing other material. I like what I’m seeing very much.

    Sincerely,
    Stuart Mayberry
    770-[masked by admin]

    • John Fedro

      November 20, 2015

      Hi Stuart,

      Thanks so much for reaching out and commenting. Additionally, thanks so much for your kind words. If you ever have any comments or questions moving forward never hesitate to reach out anytime.

      Check out a previously recorded video case-study that talks about investing in co-op style mobile home parks. https://www.mobilehomeinvesting.net/6-profitable-mobile-home-formula-deals-without-competition-paul-brecht-and-john-fedro/ We’re talking about investing in the individual mobile homes during this podcast and not in the entire mobile home community.. Just wanted to make that clear. Keep in touch.

      Talk soon,
      John

  • John Butler

    November 22, 2015

    Way to go Damarice! Very inspirational for newer investors. Keep it up.

    Cheers!

    • John Fedro

      November 23, 2015

      Hi John,

      Thanks for commenting in your kind words. I am super happy and proud of everything Damarice is already accomplished. Keep in touch and if you have any mobile home investing related questions moving forward never hesitate to reach out.

      Lastly, I received your great question for the upcoming podcast. I will definitely add this to the coming episodes. Keep in touch.

      Talk soon,
      John

      • Bill

        March 19, 2016

        Hi John. I like this podcast very much. Please let me know when you will have more. Thank you. Bill

        • John Fedro

          March 23, 2016

          Hi Bill,

          Thank you so much for reaching out and connecting. I’m very glad that this podcast has been helpful and valuable to you thus far. As always, if you ever have any questions or concerns please never hesitate to reach out anytime. Always here to help. Have a great rest of the week.

          Talk soon,
          John

  • Kevin

    December 6, 2015

    Great episode John! I always learn something new. I would suggest that Damarice represent herself as an employee of a small company (she can decide the “size”) that specializes in finding and screening affordable housing opportunities for qualifying owner occupants. To some that will sound very technical but it’s actually what you ARE doing. If they say that sounds like a RE agent you can respond by saying that it is similar however your company as provides the financing for those people looking to buy. Which is really what you do, unless they pay all cash which should be rare.

    Hope this helps!

    • John Fedro

      December 8, 2015

      Hi Kevin,

      Thanks for commenting and saying hello. Great advice thinking outside of the box. Based on my experience I would be concerned that the description of your company may confuse buyers slightly. With that said if you are comfortable saying it then by all means it certainly does express what we do. I like to go even simpler by typically say, “you are talking to the folks that want to buy your home, not list it or help you sell it”. That is of course unless you are a real estate agent, in which case a person would want to disclose this and continue to mention you would be acting as buyer in the situation.

      With all that said I love this business because there are so many ways to help local communities and local sellers. Whatever a person calls themselves or their business it is important that they do so with pride and with the understanding of how this will be interpreted by the listening party. Thanks again for commenting. I always love to get new ideas and advice.

      Talk soon,
      John