Welcome back,

In today’s Mobile Home Investing Lessened podcast #53 we are talking to active Mobile Home Formula investor David. David has been mobile home investing in the state of Virginia since beginning working with John in 2022. In this short time working together David has become more confident investing in mobile homes, knowing how to help mobile home buyers and sellers, and has even transitioned into a full-time mobile home investor.

David was able to retire from his electrical engineering career and invest full time living off of his mobile home flipping profits. David has overcome normal fears and mental roadblocks, compulsions to be a perfectionist, fear when talking to strangers, and learning a completely new skill set/career safely and quickly.

Pro Tip: Mobile home investing and real estate investing is not for the weak.

Use the time markers below to fast forward the podcast.

• 0:00 Restart mobile home investing?
• 1:32What would you do differently?
• 2:52 Working with John.
• 4:50 The cat mobile home deal.
• 8:50 Deposits refundable?
• 13:40 Getting approved with no W-2.
• 14:59 Quitting
• 19:37 Common mobile home repairs.
• 22:25 Being a perfectionist.
• 26:10 Selling safely
• 29:41 Cheap buyer story.
• 32:30 Average repair budget?
• 37:20 Advice for others.

We are all scared in the beginning.

How could starting a new business and putting yourself out into a new world not be scary? We are all human, and most of us do not like to feel insecure, unsure and new at something.

Mobile home investing is not just one thing. Mobile home investing is a combination of dozens of skills and new knowledge to learn and possess.

As a successful mobile home investor, you should be able to…

• Stay within an advertising and marketing budget.
• Successfully negotiate with sellers.
• Talk to strangers.
• Help people in need.
• Start investing on a budget.
• Analyze repairs.
• Perform due diligence on parks, homes, and mobile home titles.
• Screen and negotiate with handyman.
• Structure win-win deals with sellers.
• Learn your state’s mobile home laws entitled procedures.
• Juggle multiple properties at once.
• Successfully talk to and work with mobile home park managers.
• Purchase and add mobile homes to private land you also own.
• Profitably move mobile homes to new locations and completely set them up.
• Establish purchase price and resale price for every mobile home you find.
• Overcome title challenges on a regular basis.
• Learn to screen cash buyers and payment buyers.
• Increase your marketing in cost effective ways.
• Scaling and automating your mobile home investing business in the future.

Most of us start mobile home investing with little money and very little knowledge of this industry. How are we expected to stumble our way to success without failing multiple times? If you plan on learning this business on your own through trial and error, please remember that you can always reach out to ask questions at the email address below.

Pro Tip: We all pay for our education eventually.

Making enough money to retire.

Replacing your current income with the profits from mobile home investing does not happen overnight. This only happens with consistent effort and correct daily action towards your financial goals. David had zero money coming in from mobile homes when we first met.

Through all his fear David continued to push forward, ask questions, take action, and check in regularly for updates and feedback. Nobody saw this daily struggle from David. Nobody sees all of the effort that we put in day after day after day. However, when done correctly, all of your hard work and effort will pay off.

ONE-TIME CASH paydays from flips and wholesales: In the beginning of your mobile home investing career, it may likely be wise to focus on selling mobile homes to all cash buyers. Flipping mobile homes for cash and wholesaling them for cash is a smart way to build up your bank account.

Down payment and monthly payments for CASH-FLOW when selling on payments: Once your business bank account has a safe amount of capital from mobile home flips and wholesalers, then selling a mobile home for long term cash flow can be a smart idea. When you can sell for monthly payments, you are able to sell the mobile home for a substantially higher value.

Rental income from rentals: If you own your own land or are dealing with a mobile home park that allows you to rent mobile homes, then renting mobile homes for long term profit can allow you to create a good deal of value from the mobile home while you continue to own it. Once you have finished renting the mobile home it can then be cleaned up and resold for cash or payments.

Pro Tip: Of all the people I have helped become full time mobile home investors, the average time to do so is around 14 months to 18 months.

In conclusion, mobile home deals rarely fall into our lap without regular work and effort. Expect to work harder for yourself than you do for someone else.

Mobile home investing should not be exciting, but rather a predictable, safe, rewarding and profitable business. Moving forward when you have any mobile home related questions please never hesitate to comment or reach out to the email below.

Love what you do daily,

John Fedro

Support@mobilehomeinvesting.net