CASH POOR Mobile Home Investing 

I seriously hope that some of these videos have been helpful to you already. As you progress in your mobile home investing career you will definitely have more questions. Feel free to reach out to me anytime with questions and I would be happy to help accordingly. Support@mobilehomeinvesting.net

Any time! Very happy to help. Moving forward if you have any follow-up mobile home related questions please never hesitate to reach out anytime.

You are so welcome! Thanks for commenting, Fred.

Really glad this was helpful. I need to make an updated video to this one soon. Thanks for commenting. Any follow up mobile home related questions never hesitate to reach out anytime.

Thank you!

Hi Marie! Thanks for reaching out and connecting. It is incredible how much the prices of manufactured homes and mobile homes have increased over the past few years. In some areas homes are over five times what they were worth just a couple years ago. Plus, I would say that more cash buyers now than years before. In Connecticut you can definitely find mobile homes and parks that are going for over $200,000. That is the same in a number of states around the country. However there are absolutely people, situations, parks, and areas where there are off market mobile home sellers needing help. Most investors simply don't know about the sellers because they never find each other. With that said good deals definitely do not lie around. This is a pretty vague response, however there are definitely good deals in Connecticut. We are currently investing in Connecticut and experiencing the same thing we have been for the last 20 years. Mobile home sellers need help and will sell far below market prices in certain situations and scenarios. We are here to help one possible. I hope this helps a bit and make sense. Any follow-up mobile home related questions please never hesitate to reach out anytime. All the best.

Hey Eric! Thanks for watching and commenting. While you are saving continue to write down your questions so that you can ask these later on, or get them answered sooner rather than later. Keep in touch as usual. All the best.

Hi Andrew. Thanks for reaching out and connecting. Additionally, thanks for watching a number of my videos. I hope that these videos have been somewhat helpful to you already. First things first, great job purchasing this huge manufactured home. I'm assuming you meant 2100 square feet, and probably not 21,000 square feet. Either way, that is certainly a big manufactured home. I am curious from your comment if you are already living in the manufactured home yourself. If your wife wants to stay in the Manufactured home then perhaps this is an argument that you will not win. However The fact that so many folks are interested in your manufactured home certainly says a lot about your craftsmanship skills. Great job updating this one to make it look so nice. Additionally, it does not hurt that you are in a good area of the country with plenty of manufactured homes and mobile homes and certainly a demand from buyers when the home is sold at the correct price and terms. Since I am an investor my personal thoughts are to sell the manufactured home and reinvest in another property if possible. At this stage of your business, which it sounds like you are just beginning, it would be important to pull out all of the profits that you can and reinvest those back into another two or three manufactured homes. You then could perhaps live in one of these full time while you fix and fast turn the others. However it certainly can be tempting to remain in this large manufactured home that you have already purchased and fixed up. I am not sure if I have given you any new information, and I certainly do not want to sway any one's judgment as it sounds like emotions are getting in the mix as well. However when it comes to your business taking out the profits and reinvesting them in good deal after good deal after good deal is typically what makes us wealthy in the long run. I hope this helps and points you in the right direction. Moving forward if you have any follow up mobile home related questions never hesitate to reach out any time. All the best.

Hi Lucy. Thank you for reaching out and connecting. If you are the owner on record then definitely contact your states mobile home title transferring department. Explain the situation and have the mobile homes VIN or serial number or HUD label number present when you call. Also your name or the address of the mobile home may pull up the information needed too. The clerk will then tell you the quickest way to obtain a duplicate title. Hope this helps and points you in the right direction. Any follow-up questions never hesitate to reach out anytime.

Hi Naomi Talking Money, Thanks for commenting and reaching out. I do hope you get value out of these videos. If you ever think of any good topics for future videos never hesitate to suggest any. We have a bunch of good ones in the works. Thanks for mentioning the enthusiasm. I'm extremely glad Im passionate about this mobile niche because few people enjoy listening to a dull and monotone presenter. If you have any pointers I'll take them as well. As always, if you have any future questions or concerns never hesitate to reach out any time. Talk soon, John

Hi Les Lobo, Thanks for reaching out and connecting. Very good to hear from you. You bring up a good point. On RU-vid there really is no order or progression to these videos. There are some playlists however they are in no particular order. The RU-vid platform is different than the training material and videos/lessons I provide when I work with folks one-on-one. You bring up a very good point that while these videos are good, if they are not directly applicable they are just a waste of time. That is why the training material I have when I work with folks is step-by-step and leads you from one task to another to another with direct one-on-one help along the way. I only bring all this up because I am not sure the best way to approach these videos on RU-vid. You should be able to click the "videos" tab on my main RU-vid homepage however this really only shows all the videos that are free on RU-vid from past to present. I do not believe this comment answer was much help however I do hope that it answers the question some. Moving forward if you have any follow-up questions never hesitate to reach out any time. Talk soon, John

Hi Scootr Zeal, Thank you so much for reaching out and connecting. Additionally, thank you so much for your kind words about the videos and their helpfulness. Please see my thoughts below in answers to your question. 1) Would renting be a bad Idea? I've been thinking of this but wasnt sure if I would gain more. Answer: The answer is, "it depends". With that said most mobile home parks will not allow you to rent a mobile home within their walls. However if it is possible, there are some advantages to renting such as tax depreciation and holding onto the property long-term. 2) When selling a home how would I go about collecting payments on time? Answer: By making sure you sell to a qualified and "low risk" tenant buyer. Ensuring unhappy tenet does not destroy property prior to leaving? Answer: This is a common fallacy that many investors have when it comes to selling mobile homes on payments. When we sell to low-risk and qualified tenant-buyers that want to pay off their homes and have good backgrounds we are dealing with rational people with level heads on their shoulder. However if someone becomes vindictive towards you or you did something that you are not supposed to do then a person inside your home may become angry and therefore act illogically and damage your home while getting an eviction on their record. This is lose lose for both parties. Additionally, if you rent mobile homes there is a higher likelihood of having to do more repairs versus selling them with payments. 3) Last, Ive worked hard & saved money just to be able to do this. I've found great deals both in & out of my area. That said for some reason im having a hard time pulling the trigger. As you say "there isn't a cookie cutter deal". So idk what I'm waiting for. I'm getting a Shia Lebeouf "Just Do It" gut feeling but having a hard time pulling the trigger on my 1st deal. Any thoughts or advice? Answer: Great job getting to this point and saving money and being ready to pull the trigger. I have no doubt that you will be a success with regards to your ambition and dedication. Keep up this excitement and eagerness while moving forward! Your "fear" is coming from not completely understanding everything that it is you will be doing to purchase and resell this mobile home. Perhaps you haven't verified there are buyers truly interested in homes or perhaps you have not worked with enough handymen to validate repairs. Moving forward you will absolutely rise to the occasion to purchase and resell or rent this home. You will absolutely make mistakes along the way however you will push through these as well. I hope this helps him and starts to point you in the right direction. As always if you have any additional follow-up questions or concerns please never hesitate to reach out to me anytime. All the best. Talk soon, John

Hi Scal760, The answer is, "it depends". An investor that can invest his or her own capital may expect a rate of 20% or higher per year. Some investors may demand their money back within three months or six months with a sizable return. However, some people will be making very low rates of return on their current savings and will be comfortable lending small amounts of money to you for reasonable returns. I say this because what is a "good interest rate" for one person will not be the same for another person. Additionally, a "good interest rate" for a borrower is very different than in "good interest rate" for a lender. With all this said, 10%-15% is a considerable rate of return in many non-investors eyes. Please keep in mind that everyone is different and you should absolutely talk to your lenders with transparency and openness. Explain your situation and perhaps explore alternatives to interest rates such as "flat fees" of some kind. Additionally, the numbers can certainly change depending on the deal and risk involved. As always, if you ever have any follow-up questions or concerns please never hesitate to reach out any time. All the best. Talk soon, John

Hi ozzyluvngirl, Thank you for reaching out and connecting. Additionally, thank you for your detailed message. I very much regret to hear about your situation. I too have trusted people time and time again, only to be taken advantage of and learn my lesson again and again. While this has changed me I am happy that it is not broken my spirit. It sounds as if you are willing and able to continue your fight towards owning this dream property with an amazing view. I feel like this is probably something everyone in the world may want. I'm not sure of your area however $9000 is certainly a substantial amount of money to put down on a used property that is being sold with some type of owner financing or other creative options. However, as you mentioned previously in your message, there are number of ways to make mistakes or be taken advantage of by people who do not have your best interest at heart. Please feel free to email me at support@mobilehomeinvesting.net for any future questions or concerns you have moving forward. I'm curious which area you are in and how you have been looking for properties to purchase? The reason I mention this is because if you were an investor I was working with there would be a number of specific things I would have you do in order to be able to purchase a used mobile home with land and only be out-of-pocket around $9000 or less without going to a bank. Again, I'm curious at what strategies you are using to find sellers and make offers open to this point. The journey to find the stream property may not be a simple one however there is definitely a path forward for you to take that will produce better results than others. Moving forward if you ever have any follow-up questions or concerns never hesitate to reach out anytime. All the best. Keep in touch. Talk soon, John

Hi JOHN PUBLIC, Thank you for reaching out and connecting. The answer to your question is most definitely, "it depends". However I'm not sure I fully understand your question. The reason I mention this is because your question is vague and I do try to discuss topics like you are discussing in this exact video. I would encourage you to rewatch the video as this may answer some of your questions. Additionally, the answer you are seeking will definitely vary from home to home, area to area, and park to park. After you rewatch the video please comment back with any specific questions or concerns you have. Feel free to email me as well if that is easier. All the best. Talk soon, John

Hi Tim Hiatt, Thank you for reaching out and connecting. I do hope this video has been helpful to you somewhat thus far. Please check out my website to learn more about potentially working together moving forward. With that said please know that I'm always here and happy to answer questions you have with your member of this training/mentoring or not. All the best and keep in touch. Talk soon, John

Hi Draon84, Thanks for reaching out and connecting. Congratulations on the $1500 purchase! Congrats on having the guts to pull the trigger. I have no idea what this home looks like or the area however $5000 invested into a mobile home can go a long way when you do the right repairs and have a very affordable handyman, or do the repairs yourself. With that said I definitely agree with your exit strategy of reselling the home for 5x the original cost. You mention "original cost" in your comment above, I'm curious if you will be making five times the $1500 amount, or the all in amount of $6500. It is likely the $1500 amount, however depending on the terms when you resell this may not be the case. Will you be looking for a cash or payment type buyer? With that said as long as you have learned and at least broken even on your first deal, it was a success. However it sounds like you will do a lot better than breaking even with this home. As always, if you ever have any specific questions or concerns please never hesitate to reach out any time. Always happy to help if I can. Talk soon, John

Hi John, thank for getting back to me. was referring to 5x the $6500. I already have tenants ready to move in when finished (which should be this coming week), my brother and his family are going to rent it from me. My main goal was to help them get on their feet and finally living on their own, and not with me like they have for the past 2 years now. they've already agreed to the monthly rent for the first year, and want to exercise my rent to own option for them starting year 2 of renting from me, which i made clear to them would be $35000 over the course of 5 years. which may sound like a long time to recoup and make my profit, but really isn't after 12 months i make half of what i spent, and then get the rest when they do the down payment for the rent to own, so i'll break even after a year, and my profit will come over the next few years. but that doesn't mean i can't sell it to another investor at a lower price sooner if i want my profit faster. I live near a military base, and being prior service (and a single soldier) I know the market for rentals is always going to be steady, people always coming and going. All in all its not a bad trailer, just old. most of the work was already done for me by the previous owners (all drywall put up, and carpets removed), only major work i had to tackle was a leak (admit took me a little while to find and fix because someone tried to patch it, but didn't do it right). Saved some money by using pallet wood that i had gotten for free as my main area flooring. I'll shoot you some pics if you'd like?

Hi Taylor Tully, Thank you so much for reaching out and connecting. Additionally, thank you for the kind words. With regards to private money, it definitely depends on if I will be using it to purchase a mobile home park or an individual mobile home. The reason for this is because there are number of moneylenders that will not lend less than $25,000 as it does not make financial sense for them. A small rate of return on this amount of money does not get them excited. With that said you may have one private money person with deep pockets that you use, or you may have family members and friends that all lend you different amounts of money to help fund deals. When possible try to structure seller held financing with sellers to keep more money in your pocket and not use private money if needed. However back to your question, the answer is definitely "it depends". There is no cookie-cutter outline when I work with the new private money person. I want to find out what they are comfortable with and what their expectations are. From that I will let them know what I am able or comfortable to pay based on a certain deal I am looking at. I apologize as this answer is probably not as fulfilling as you were hoping. However the answer is truly "it depends". I'm obviously not looking to pay very much, however I do wanted to be win-win. Again, I hope this helps and make sense. As always, if you ever have any follow-up questions or concerns never hesitate to reach out any time. Talk soon, John

Thanks for the reply John, I’ll try to take it deal by deal and make it a win win. Thanks for the great info! You’re a great inspiration and provide the tools for people to go out and be successful!!!

Long distance investing :)

Hi Hipnoterapia Inmuebles, Thank you for reaching out and connecting. If you have any general mobile home related questions never hesitate to reach out to me via email. I'm always happy to answer some questions for you whether your member of this mentoring/training or not. However with regards to working together moving forward please see the "work with me" tab on my main blog website. I hope this helps and answers your question. Feel free to keep in touch. All the best. Talk soon, John

Hi Mike DelleFave, Thanks for reaching out and connecting. I hope these videos have been helpful to you somewhat thus far. The whiteboard can be found on Amazon. :) As always, if you ever have any additional questions or concerns never hesitate to reach out any time. All the best. Talk soon, John

Hi Greg Beaty, Thank you for reaching out and connecting. Your concerns about the seller financing restrictions and Dodd-Frank are absolutely valid. You are certainly correct that due to the seller financing restrictions enacted years ago, investors are not allowed to simply create notes and mortgages/deeds of trust for properties they sell to end-users. With that said, there are a number of ways to move forward safely and profitably. Using paperwork that does not violate the seller financing and truth in lending ask is key. You may also want to use a licensed loan originator when selling some properties on payments to end-buyers. Again, like many things in real estate, your paperwork and forms are crucial. Additionally, understanding the procedure and legalities in everything you do is necessary. More clarity is always better than less. While this answer is a bit vague I do hope it helps and makes a bit of sense that there are valid methods to move forward safely and legally. As always, if you are have any follow-up questions or concerns please never hesitate to reach out any time. All the best. Talk soon, John

Hey John, I read somewhere that we as investors could go get our own MLO license to be legally able to put our own mobile homes on lease options to tenant buyers. Is that correct?

Hi Tek Woldu, Thanks for reaching out and connecting. I will be happy to clear up the confusion. I certainly did not mean to make it sound as if creating and selling notes was not possible when getting started. However based on my experience it is much easier to sell a mobile home to an all-cash buyer and double or triple your invested capital. Originating a note with the help of an MLO and selling it to a note buyer is certainly possible, however less likely when you are just getting started. Selling notes typically happens after you've developed a relationship in the local community and know a network of note buyers. Again, with proper planning and new investor could certainly legally originate notes and sell them to eager buyers if available and possible. Either way the point would be to increase the amount of cash you have to keep reinvesting to buy more cash flowing mobile homes. I hope this makes a bit of sense and clears up the issue. As always, if you ever have any follow-up questions or concerns never hesitate to reach out any time. All the best. Talk soon, John

how much for your course and membership ... i just bought loonie scruggs course yesturday for 200 .. give me a shout back im definatly interested brother

Hey John, is there a difference in selling a note on the mobile home to a note buyer and putting the MH on lease options to a buyer tenant?

Evening Robin, Thank you for reaching out and connecting. If I am understanding the question correctly, you would simply like to reach out to residents of the community that are behind on payments and that the park is evicting? I think I may be missing something as $3000 sounds like a lot of lot rent and time to pass before the eviction process completes. Are these "court orders" evictions or something else? Does the park owner mind if you reach out to these residents? I would encourage you reach out to them in a helpful and consulting type of manner to see with the financial situation is and how you may be able to possibly help moving forward. Would you be looking at purchasing these for yourself or to help resell for the park and maybe make a commission? Thanks again for reaching out. Moving forward if you have any additional comments or questions ever hesitate to reach out any time. Feel free to answer the questions above and we can certainly get anything else cleared up. Keep in touch. All the best. Talk soon, John

The park manger would take the story at face and allow the home owner more time, So when the owner of the park finally stepped in the tenant was already past due several months, it is a court ordered pay plan. I want to purchase and resell myself. Yes I am talking with the park owner.

Hi mouad bekka, Thanks for reaching out and connecting. What area of the country are you currently in? Talk soon, John

@@MobileHomeFormula delaware , tri state area is fine