Mobile Home Investing Q&A #9 – Getting Scammed, 6 Deals in 60 Days, Handyman Troubles & Multiple Deals Monthly

Welcome back,

In today’s mobile home investing Q&A video series I am very proud to introduce active mobile home investors, Jeremy and Samera to the co-hosting seats. In today’s video we breakdown some deals and daily actions producing results in Jeremy and Samera’s manufactured home investing business. This husband and wife investing team is dominating a few of their local parks and making a positive name for themselves in their investing territory… and this is only the beginning.

These investors have been investing in mobile homes for less than 6 months and have already amassed a sizeable portfolio of properties. Jeremy and Samera are also in a location of the country, Arizona, where selling homes for cash is possible (in addition to selling via monthly payments). In reality, selling mobile homes for all-cash is possible in almost every area of the country when attractively priced and very proactively advertised. With that being said, payment-buyers are everywhere in the country and always looking for an affordable home. This ability to sell for cash and/or payments has allowed these investors to…

  • Sell half of their investment homes sell for all-cash, to help generate more capital for more buy-and-hold mobile home deals.
  • Sell half of their investment homes sell for a down payment and monthly payments for 60+ months.

Disclaimer: When selling via monthly payments make certain to comply with all local states and federal financing laws.

Pro Tip: When reselling to an all-cash buyer, aim to 3x (or at minimum 2x) your invested capital. However when reselling an investment mobile home (inside of a pre-existing mobile home park) via monthly payments, aim to…

  • Recoup all your invested capital (inclusing aqusition cost, holidng costs, and repsirs) back in 6-12 month or less.
  • Generate a minimum net income of $300/month per mobile home.
  • Sell for 60+ months worth of payments from your low-risk tenant-buyer.

Related article: Determining the Value of Your Manufactured Home When Selling For Payments

(Multiple properties shown above and below.)

The video below in just under 1-hour in length. We discuss a number of topics plus Jeremy and Samera really open up about the fears and worries they experienced along their journey. Set aside some time to listen to the actionable suggestions and tips in the full video below.

In this show we cover: (Times are provided to fast-forward video if needed.)

  • 1:01 How did you start investing in real estate?
  • 1:44 Can you talk about any "lemons" you've purchased?
  • 6:20 Can you talk about being taken-advantage from another investor?
  • 8:20 Can you discuss a low-point in your investing business?
  • 9:27 Do you mind sharing the name of the guy that scammed you so others don't get scammed?
  • 11:07 In general, what have you discovered since starting mobile home investing?
  • 12:30 How many mobile homes have you purchased in the last 60 days?
  • 12:33 How long after starting until your first deal was purchased?
  • 15:29 What started making this mobile home investing business "click" in your mind?
  • 16:25 Let's discuss the Picasso house.
  • 21:00 Why would your handyman rip things off the wall?
  • 22:10 Do you fix mobile homes up pretty or sell them in as-is condition?
  • 23:08 Can you elaborate on these handymen issues?
  • 23:40 Investing in a major metro market VS a smaller town.
  • 24:23 Can you discuss working with your handymen? Any problems?
  • 26:24 Common problems with your handymen.
  • 28:04 Can you discuss the home what was moved in the middle of the night?
  • 34:09 How many mobile homes are in your portfolio currently?
  • 36:20 How many parks are you both currently investing within?
  • 37:10 Do you love structuring payments with sellers when buying?
  • 40:05 Can you talk about your confidence levels before and now?
  • 42:30 The importance of taking action daily.
  • 43:29 What 4 things have surprised you concerning mobile home investing?
  • 49:29 Treating people with respect while creating value and making profit.
  • 50:39 What are your goals for this year?
  • 51:30 Systematizing your business.
  • 52:08 Dominating your local market.
  • 52:40 What does an average day look like in your investing business?
  • 54:35 Do's & Don'ts concerning mobile home investing.

Did you like the video above? Want to hear more from Jeremy and Samera? Well, you’re in luck. Click the following link to learn more about these two investors and sign up from their personal podcast channel. www.jsinspires.com Disclaimer: In no way am I getting paid for this endorsement. Jeremy and Samera are already inspiring and teaching others through their own struggles, losses, and victories.These investors are the real-deal and I’m proud to share their podcast page with you.

In conclusion, there are a few themes that continually occur throughout this website. One of these very important recurring themes is the ability to Take Action. Not blind action, but very specific and very massive action for the purpose of making a name for yourself, helping sellers, and safely closing local deals quickly. These two investors have the “ability to-take-action” available in ample amounts. With that said there was a time (very recently) when Jeremy and Samera were apprehensive and frozen with a fear of the unknown. If this describes you, you are not alone. We all once did not know what a mobile home title was? Or why we may want a personal property trust when buying mobile homes? Or how to introduce yourself to local park managers?

Related article: Mobile Home Park Manager Introduction

There is only a lack of understanding and action between you and helping local parks/sellers. Moving forward please feel free to reach out and comment below or email me personally with any questions or concerns you may have. Keep asking questions and keep learning until you’re ready to take action and help others.

Love what you do daily,
John Fedro
support@mobilehomeinvesting.net

 

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8 Comments

  • Robert MCDougal

    April 26, 2017

    Hi John,

    great one! As a newer investor it helps to know others go through trials and tests too. Ive even been taken advantage of by teaching companies promising things. But you have to keep moving if you want to get somewhere. These 2 have a lonng and bringht future in front of them. Did you see the nat geo mobile home program last night. Any thoughts?

    Robert M

    • John Fedro

      April 26, 2017

      Hi Robert,

      Thank you for reaching out and connecting. I’m very glad to hear that this article and video has been somewhat helpful to you thus far. The apprehensions and fears you you are going through and have gone through are completely normal. The thing that is “not so normal” is your ambition and perseverance to push through these fears. While building up a passive portfolio of mobile home properties, you are building something from scratch. You are learning so many new traits and skills and constantly stretching yourself past your comfort zone. These struggles, doubts, and fears are normal when starting almost any major new business venture. Again, congratulations on pushing through all the hurdles you currently have. There will absolutely be more to come, but you will rise to those occasions as well. Moving forward please keep in touch and if you have any questions or concerns never hesitate to reach out any time. Always here to help brainstorm or answer any questions you may have. All the best and keep in touch.

      Lastly, I did watch this program and will be coming out with a few videos on the topics of ethics and where the mobile home future may be headed. As always, keep in touch with any questions or concerns you ever have. All the best.

      Talk soon,
      John

  • Vincent Wittig

    April 29, 2017

    Hi John,
    Great website. Surprised at how much information you willingly give away. I’m considering your mentor program. Real estate investing is new to me. I’m looking at starting. Quick question. If I was to purchase a property utilizing payments, lets say 60 months and a small down payment; am I still able to sell the property to someone else under a similar payment plan(obviously more then I’m paying is the goal)? Or am I limited to only Cash offers in this scenario? Thank you for the feedback.

    • John Fedro

      May 3, 2017

      Hi Vincent,

      Thank you for reaching out and connecting. Very happy to hear that this website has already been a bit helpful to you thus far. First things first, when talking about purchasing a home with seller held financing I would definitely encourage you to pay off the seller within 24 months maximum. You could certainly pay the seller for longer however make sure these payments are very win-win and that you will still be making at least $150 cash flow while still paying the seller the debt service for their home. I mention this first part because I would highly advise you to ever buy a home from a seller and pay a small down payment and 60 months of payments. Unless you are paying $200 down and $50 a month for 60 months. The reason I mention this is because as mobile home investors we aim to make certain expectations whenever we sell a mobile home and create value. Again, there would be no need for you to make 60 months worth of payments to a seller, as you could likely get away with a lot less and still have the seller be very happy with you. All in all, yes, there are ways for you to purchase a home with payments and still sell the home 100% with payments. I will my long-winded answer make sense and does not raise more questions than it helped answer. Moving forward if you ever have any follow-up questions or concerns never hesitate to reach out any time. All the best. Keep in touch.

      Talk soon, John

  • Darlene

    May 18, 2017

    I need help I migh be in trouble I bought. Mobile home later to find out son signed his deceased mothers name. thank you

    • John Fedro

      May 20, 2017

      Hi Darlene,

      Thank you so much for reaching out and connecting. I regret to hear about your mother’s passing. Moving forward if you ever have any questions or concerns never hesitate to reach out any time. I am here and able to help if possible. Please feel free to comment back here anytime or reach out to me directly at support@mobilehomeinvesting.net. Keep in touch please.

      Talk soon,
      John

  • Rich

    May 20, 2017

    You all are such a HUGE inspiration! I am just now getting started on my journey and have been researching getting started, and getting started quickly. This helps understand how I want to move forward in my area for sure and its with mobile homes. I know Ill have mnay questions for you, I already do have a few obvious questions. Ill be in touch John.

    Thank you

    • John Fedro

      May 20, 2017

      Hi Rich,

      Thank you for reaching out and connecting. Additionally, thank you so much for the kind words. These truly mean more than you know. Jeremy and Samera and inspiring others to do things greater than they ever thought possible. I am very proud of these two investors and everything that they have accomplished in such a short period of time. With that said, while we are able to help others in our local businesses, there is nothing inherently special about any of us. The only thing that separates us from other investors is a specific game plan moving forward, the ability to get questions answered, and daily specific action every single day moving forward. With all that said I do hope this article and video has provided you some clarity with regards to your own business and moving forward. If you ever have any follow-up questions or concerns never hesitate to reach out any time. I’ll be happy to answer any questions or concerns you have when you have them. All the best and keep in touch.

      Talk soon,
      John