Welcome back,
We recently posted an article that mentioned the importance of listening to our fellow real estate investors as they share their personal stories, successes, hardships, and costly investing lessons. With this in mind, we have created a new series made with hardworking mobile home investors, for new and experienced mobile home investors. We call it, Ask The Experts.
In today’s video, I am joined with active mobile home investor Dave Burton. Dave and his wife started investing in mobile homes roughly 2 years ago, and since then have gone on to help change the lives and add value to at least a dozen families in their local market. Dave opens up his business and shares what is working. We also discuss tips, helpful solutions to problems, and money saving advice for investors.
Mobile Home Investor Q&A #1 – Real Questions, Real Advice
Questions/Answers: (Times are provided to fast-forward video if needed.)
- 1:20 What is the most important daily activity of an active and successful mobile home investor?
- 2:10 Can a new investor be successful if there are already other mobile home investors in your area?
- 2:50 What are your investing goals for the year?
- 3:35 Should a new investor specialize or aim to help every seller?
- 4:20 Are you involved in senior or family parks?
- 5:20 Do manufactured home investors provide a real value to society?
- 6:20 Are mobile home park managers helpful or hurtful to your business?
- 6:55 What does your average deal look like?
- 7:50 Do you like selling fixed homes or handy-man special homes?
- 9:04 What is one of the strangest things happen to you while investing in mobiles?
- 10:05 How long until you recoup all your invested money when selling?
- 10:47 If you could change one REI thing in the past what would it be?
- 11:40 What’s real estate investing rule #1?
- 12:55 What was your real estate history before mobile homes?
- 13:24 What is something new you learned when mobile home investing?
- 15:00 When you’ll get free mobile homes?
- 15:10 Have you done any bad deals? What made it negative? How did it end?
- 16:30 What is your advice when looking for a payment-buyer?
- 18:35 Listening to your gut instinct when selling.
- 19:50 How much money is needed to start investing in mobiles?
- 21:57 Where do you see the future of mobile homes headed?
- 22:38 How many square feet are your homes on average?
In conclusion, it is important to realize that real estate investing is part art, and part science. Around you currently there are frustrated and confused mobile home sellers wanting and needing help. As an active mobile home investor, it is your responsibility to educate local sellers as to how you can help solve their problem and all the alternative options the sellers have to move forward out of their current situation. Continue aiming to help these local sellers and buyers daily.
Special thanks to Dave for speaking candidly in order to give value to investors he’ll likely never meet.
If you would like to have a question asked in coming episodes please comment them below.
Love what you do daily,
John Fedro
support@mobilehomeinvesting.net
Related videos:
22 Responses
This is so valuable John. Thank you for making this video. Thank you both. I have been struggling to decide if I was able to invest with other people already investing. I have seen other investor’s ads on craigslist so I know they are around. This video has given me more courage to stand up for myself and take action soon.
Do you know much about the Tuscon mobile market? Is my area good for this type of investing. My guts tell me it is but Im no expert.
I hope you have more of these types of vbideos in the future.
Thank you both again,
Carol Rodriguez
Hi Carol,
Thank you so much for taking the time to watch the video and comment. Let me first say that there is nothing uniquely special about myself or Dave. We simply have put forth the effort and daily consistent actions to become well known in our areas and be able to help local buyers and sellers on a repetitive basis. This is absolutely something that you can achieve if you have the ambition and desire to. Do not let any negative thoughts or feelings cloud your judgment and stop you from helping local buyers and sellers. You can absolutely make a difference in their lives, and of course by doing this you will create a value and profit in your life as well.
I do know the Tucson market fairly well. A few months ago I recorded a case study with an active mobile home investor in Tucson. You can find this video on our YouTube channel or by clicking the video link above under the “free stuff” tab. Look for this video in the case study section. With that said there are well over 200 mobile home parks in less than an hour’s drive from where you are. There is certainly enough mobile home inventory and parks for a handful of investors. Not to mention the fact that mobile home investors may often times go after different types of mobile homes and resell to different types of buyers. You may not actually be competing with as many people as you think in your local market. In addition the activities you do daily and how you speak to sellers and buyers can also affect your business greatly for the positive.
I hope this advice helps and makes sense. If you have any follow-up questions or specific mobile home investing questions never hesitate to reach back out. And I am happy to say there are more videos like this coming in the future. Very happy to helping keep in touch.
Talk soon,
John
Thank you very much John. This makes perfect sense. I will certainly be in touch with you moving forward. Looking forward to it!
Sincerely,
Carol
This was very helpful.
I would like to ask the question about paperwork and finding leads for future episodes.
Thank you both in advance.
TA
Hi Troy,
Thanks so much for commenting and for your kind words. The next few episodes are already recorded however we will definitely aim to ask about paperwork and finding leads in future episodes. In addition these would be good topics for future videos to be created in the near future. Thank you so much for the great suggestions. Keep in touch.
Talk soon,
John
Thank You for sharing your experiences!
What is the law governing Disclosure on a mobile home. Is it the same as a real estate law for home disclosure.
Hi Helen,
Thank you for reaching out concerning this issue. Mobile homes attached to real property follow the same guidelines with regards to disclosing and disclosure as traditional single-family homes. However, mobile homes that are considered personal property follow more closely the disclosure laws regarding motor vehicles. With all that said it should be everyone’s practice to disclose, disclose, disclose. I believe this comes down to a matter of ethics and simple honesty when dealing with buyers and sellers. I hope this answer helps and makes sense. If you have any follow-up questions or concerns never hesitate to reach back out. Additionally, if you have a scenario or situation that you’ve been in with regarding disclosure on a mobile home feel free to write back concerning the specific experience. Keep in touch.
Talk soon,
John
This is very useful Post. Thanks for sharing
Keep It up
🙂
Hi Reah,
Thanks for reaching out and commenting. If you have any future questions or concerns never hesitate to reach out.
Talk soon,
John
Hello
Let me start by expressing my gratitude to what you are doing, thank you so much for having the time to share your experiences to other people. I find it very noble and valuable. The information we get from your blog are very informative and will surely help us in our investing adventures. Keep up the good work. I’m not that familiar with mobile home investments but I’m starting to learn thanks to your website. Thank you again. Have a nice day.
Hi Alden,
Thank you so much for taking the time to read along and for commenting. Your kind words mean more than you know. I truly hope this article and video have been helpful. Moving forward you will likely have a number of questions and concerns. Feel free to always reach out and I’d be happy to help when I can.
Talk soon,
John
Thanks John. Good stuff as always.
Hi Bill,
Thank you so much. I hope it was helpful a bit to see what others are doing.
Talk soon,
John
Nice John! I enjoyed the video and I’ve learned more about Home investing. I am new Home Investor and I can use those stuff. Thanks for sharing!
Hi Bill,
Thanks for the kind words and kudos. Glad to hear that this video and article has been of value to you thus far. If you have any specific investing questions never hesitate to reach back out.
Talk soon,
John
Hi John.
I would like to ask you this question cause I bought a mobile home. It has new copper piping, new sewer and new gas piping too. The home is in a private property. I wanna put this home in a mobile home park to live there. Do I have to get permits for those upgrades that the privious owner did without permits? Please let me know. Thanks!
Hi Chris,
Thank you for reaching out and connecting with regards to your question. Congratulations on finding this property and wanting to move it to a local mobile home community. Because you are moving the home you or your contractor for licensed professional will very likely have to pull permits for connecting water, gas, and electric. Contact your cities permit department for exact costs and requirements of these permits. The above advice has been with regards to you moving the home from one location to another. If you are simply keeping the home in one location then an inspection would not be needed unless the home sat vacant for longer than 12 months… In which case many power and gas companies require an inspection prior to service being reinstated. I hope this all helps and points you in the right direction. If you have any follow-up questions or concerns please never hesitate to reach out anytime.
Talk soon,
John
It’s always a relief when someone with obvious exiptrese answers. Thanks!
Hi Ronalee,
Thank you so much for reaching out and connecting. Additionally, thank you so much for your kind words. I am super proud of Dave and Cindy as well and all he has accomplished in a short period of time. Moving forward if you ever have any follow-up questions or concerns never hesitate to reach out any time.
Talk soon,
John
Thanks for sharing the content. I really appreciate your mobile home investing content and expertise. Thanks again. José
Hi José,
Thank you so much for the kind words and commenting. They truly mean more than you know. This website has certainly been a labor of love. Moving forward if you ever have any follow-up questions or concerns never hesitate to reach out any time. Always happy and here to help if I can.
Talk soon,
John