Hi J long,

Thank you so much for reaching out concerning this issue. I regret that you are having a problem like this now that you are trying to resell your home. The mobile home title you purchase six years ago may indeed be from a different mobile home. If that is the case then that means that the mobile home you have been living in has a title that is somewhere. Most likely no one is going to come back for the home that you are living in even though it is not currently yours. If the mobile home is inside of a mobile home community than you’ve likely developed a relationship with the park manager. I would have a talk with the park manager to let her know the problem you are having with the title. This park will be able to file an “abandon title” form with the state and should be able to produce a new title. Keep in mind that at this point the title will be in the park’s name and they will then transfer it over to you, hopefully for free or for a very small fee.

I hope this all helps and makes sense. If you have any follow-up questions or concerns never hesitate to reach back out.

Talk soon,
John

Hi Michelle,

Thank you so much for reaching out and getting in touch with me. I regret that you are having trouble with this seller and running into these problems now. Ideally, everyone would do exactly what they are promised and the deal will go through smoothly.

I am curious how the situation is set up at the moment. Ideally, your name should be on the title into his name should be listed as Lien holder (depending on your state). However it sounds like neither of your names are on the title at this point. If this is the case then this is a big issue that needs to be resolved quickly. I’m curious if the seller even has the power to transfer the ownership from the current owner to somebody else’s name?

Your already paid $5000 down, which is not a small amount of money. If something happens to the home your name should also be listed on the insurance policy. As I mentioned above, your name should be listed as owner on the title and the lien holder should be the gentleman who is selling the home to you. When you obtain insurance you should obtain a “homeowners policy” with your name listed as the primarily insured party, and the seller should be listed as “additionally insured”.

Please let me know if my thoughts about sound accurate. Are you listed anywhere on this title? If you are not then this is the first thing that has to be corrected prior to you obtaining insurance. Ideally this seller is on the up and up and really wants to sell you this property or the agreed price and terms. However with that said, something definitely sounds fishy if neither of your names are on the title at this point. Keep me posted please

Talk soon,
John

Hi Gianna,

Thank you for reaching out and connecting. Additionally, thank you so much for the kind words and kudos. They mean more than you know. I absolutely understand with regards to the information overload and analysis of paralysis many people go through. What is happened in the past certainly does not dictate your future. Moving forward if you have any questions or concerns never hesitate to reach out any time. All the best.

Talk soon,
John

Hi Tim,

Thanks for reaching out and connecting. Very good question. In my experience about 60% of the mobile home park you walk into will not be able to work with you simply due to your age. They will know exactly what you are doing however their hands will be tied. With that said there will be 40% of parks that understand what you are doing and happy to have you there as long as you do not live in the home and sell to somebody who is approved by the park to live there. With that said of this 40% of parks, some may need your help and others may not need your help. With that said you do have to go through almost all of the senior communities one by one to figure out who wants to work with you and who does not. I hope this helps and answers your question. All in all that’s pretty good news. As always, if you have any follow-up questions or concerns never hesitate to reach out any time.

Talk soon,
John

Hi Shaun,

Thank you for reaching out and connecting. Additionally, thank you so much for the kind words. They truly mean more than you know. I do hope these articles and videos have been somewhat helpful to you thus far. Please see my thoughts below in bold.

Quick question on legal entity… would you recommend I set up a real estate holding corporation and each mobile home is held by its own separate LLC? The answer is, “it depends”. I certainly do not want to give you any incorrect or misguided information. Additionally, I am no CPA or financial planner at all. With that said LLCs are the only type of corporation I use, and I would recommend to set up a corporation sometime during your first five deals. If you already have a corporation set up for your very first deal then so be it, however if you do not that is certainly not a dealbreaker. That was recommended to me by a real estate investor friend, but they invest into very large apartment complexes. Would the same be true for mobile home investing? How are you structured? What would you recommend? Normally one or two corporations is fine, one may be for your long-term properties and one may be for other quick flips. However we typically purchase every new mobile home investment into a separate personal property trust or land trust. There are other ways we close properties however it really depends on the situation and due diligence we performed prior to closing. In short, there are number ways to move forward however keeping yourself and your sellers and buyers protected is priority #1. I hope this all helps and make sense. My answer above was a bit vague however depending on your exit strategy and goals the answer definitely changes. I hope this all helps and make sense. As always, if you ever have any follow-up questions now are moving forward never hesitate to reach out any time. All the best.

Talk soon,
John

Hi Trisha,

Thank you for reaching out and connecting. Additionally, thank you for your detailed comment as the certainly does help me try to point you in the right direction. I have no doubt that your manufactured home is gorgeous and large. I regret to hear that you are looking to move. Ideally you do not want to be a motivated seller however it is good to hear that you at least have some offers for $40,000 as a worst-case scenario. I would very much encourage you to list your mobile home for sale in the local newspaper, with some signs in the windows, and online such as websites such as http://www.sellfastbyowner.com and http://www.mhvillage.com and Craigslist.com. With regards to finding movers I would very much encourage you to reach out to a number of mobile home parks in and around your general area. Asked them who they can recommend with regards to reputable and reliable mobile home transportation companies. You may have to talk to a few before you find one that is interested in driving the home this far. You will also be paying quite a bit of money in gas and moving charges, however it will likely be less than the hit you will take if you have to sell for cash. With that said I would imagine moving this double wide would cost $20,000+ to move and set up. I could be wrong about this and hopefully it would be half the cost but it would still be quite sizable. Perhaps you can sell the home to somebody that has $20,000 or $30,000 down and can make payments on the rest. I hope this all helps and starts to point you in the right direction. As always, if you ever have any follow-up questions or concerns never hesitate to reach out any time.

Talk soon,
John

Hi Esau,

Thank you for reaching out and connecting. Additionally, thank you for your detailed comment as a certainly does help me answer your questions and point you in the right direction moving forward. Please see my thoughts below in bold.

I have been studying the material you post and I think it is amazing how easy and confortable you can make a new investor feel. Thank you so much for saying this. This truly means more than you know. I hope these videos and articles have been somewhat helpful to you thus far.

I hope you can help me with this. I have a mobile home that needs no repairs that I want to buy with financing and then have someone renting to own it from me. I have my target home, have spoken to the owner ( title is in his hands) and also a renter lined up. What paperwork do I need to prepare to buy it from the current owner and to rent it to the people lined up? The paperwork and procedure will vary greatly or slightly from state to state and area you are investing in. With that said please feel free to check out this webpage to get more information with your exact state. https://www.mobilehomeinvesting.net/mobile-home-title-transfer-state-by-state/ Does the title go into an escrow account or something similar? In many situations the answer is no, however there are certain situations and certain states were going through escrow or title company may be desired or required. Without knowing what exact state you are in do not want to give you any wrong or misleading information. For this reason please check out the webpage link above and feel free to comment back with any additional questions or concerns that you have.

This would be my first deal, I am confident in the side of finding the people and analyzing details in the home but a bit insecure regarding the part of the paperwork. Congratulations with regards to being ready and willing to take action and pull the trigger when needed. With that said I’m not a big fan of going to a bank to obtain lending on investment properties. If you have to go through a bank make sure it is needed and for bigger properties. However for most mobile homes inside parks and on private land there are the strategies to purchasing control this property without obtaining bank financing. With that said I do hope that you like this property and this is just the first of many mobile homes for you. As always, if you ever have any follow-up questions or concerns now or moving forward never hesitate to reach out anytime. All the best.

Talk soon,
John

Hi Cheney,

Thank you for reaching out and connecting. You certainly are in a good area of the country and state for this type of investing. Great job saving up $2000 to begin your investing. This will definitely not help everyone, however it will help one person get out of a tight squeeze or begin making payments to a seller or be able to wholesale a mobile home to raise more capital. Either way please know if you have any questions or concerns I’m happy to answer and help if possible. My direct email as support@mobilehomeinvesting.net. Happy to help whether you are member of this mentoring/training or not. Keep in touch. All the best.

Talk soon,
John

Hi Robert,

Thank you for reaching out and connecting. You certainly are in a unique area of the country for this type of investing. It may be hard to believe however there are absolutely sellers that need to sell for a variety of reasons in and around your local area. The closer that you get to metro areas and the coast the more cash buyers there will be in the more likely you are to purchase a home fix it up and sell it for a higher-priced retail value cash. However there are certainly other areas were purchasing a mobile home from a motivated seller will cost you under $10,000. I am certainly working with folks in the state that are doing this. However again to purchase homes under $10,000 you are absolutely driving inland and away from the coastal areas. Keep in mind that there are a lot of parks and you will have to have a good territory to be purchasing homes consistently at lower prices. However if you do not mind purchasing homes for higher prices and putting $30,000 or more into them, then this business model would be something to consider in coastal areas and more high demand areas where your exit strategy would be selling for cash since you’re into the property for so much yourself. This is a very short answer however I hope that it does help some. It is obviously vague and there are a lot of other questions that you likely have however I hope that this does help some and point you in the right direction. Feel free to keep in touch. All the best.

Talk soon,
John

Hi Bria,

Thank you for reaching out and connecting. Moving forward if you have any mobile home related questions never hesitate to comment back or email me directly at support@mobilehomeinvesting.net. Happy to help whether you are a member of this mentoring/training or not. This program is not for everyone and includes partnering on your first few deals. I very much regret to hear about any program you invested in that did not give you a return on your investment, let alone you feeling dumber after going through the course. You can find out more information about the mobile home formula mentoring/training program by clicking the “work with John” tab at the top of the website. That page will tell you the initial investment, partnering, and what is expected moving forward. Again, if you have any follow-up questions about this or mobile homes never hesitate to reach out anytime. All the best.

Talk soon,
John

Hi Jason! Thanks for reaching out and connecting. Moving forward any follow-up mobile home related questions never hesitate to reach out anytime. Keep in touch.