Mobile home investing is this father’s side hustle. Dustan is married, has kids, and has a full-time job, and Dustan still finds time to make money investing in mobile homes. Watch today’s video to learn how Dustan invests in mobile homes monthly on a part-time schedule.
Dustan has a mobile home investing plan that he sticks to regularly in order to attract sellers, make offers, negotiate, close, fix and resell trailer, to help others and help himself. The more mobile home sellers and buyers Dustan helps, the more his company profits.
Like all of us, Dustan is still going through life and learning things regularly. As an active and successful mobile home investor Dustan is regularly going outside his comfort zone growing his business. If mobile home investing were easy, everyone would be doing it.
Success takes time and commitment.
Special thanks to Dustin for hopping on today’s call!
Use times below to fast-forward to different parts of this mobile home investor training interview.
- 0:00 How many deals under Dustan’s belt?
- 1:00 Putting pressure on yourself.
- 2:50 Investing without a partner problem.
- 3:30 Why mobile homes?
- 5:00 Rundown of all 5 deals so far.
- 7:00 Becoming a landlord.
- 8:05 100% ROI fast
When selling a mobile home investment for ALL cash aim to resell and double your invested capital quickly. If you are looking at a mobile home investment where you will not likely double your invested capital upon resale, consider focusing more attention to your advertising and marketing to pursue more profitable future mobile home opportunities.
New mobile home sellers are always needing help around you.
When selling via monthly payments aim to recoup all of your invested capital back within six months, or at maximum 12 months typically. After this break-even point everything is profit. You should be collecting payments for five years minimum and around $350 minimum net mobile home cash flow monthly.
Pro Tip: Mobile home investing is a lot easier if you genuinely care about people. As investors we do aim to profit, however it is only after we have genuinely helped mobile home sellers and buyers. We help others first, then we are rewarded.
- 9:10 How bad do you want it?
- 12:00 Beware the clowns.
- 12:30 Very 1st deal
- 16:00 Free mobile homes
Yes! You will find, attract, and come across free mobile homes. In some scenarios these free mobile homes are not even worth zero dollars. Sometimes the seller would need to pay you money to remove the junky mobile home. Don’t aim to close every deal.
Many times, on our mobile home investor videos you will hear that we invest in free mobile homes. Many times, these free prices are negotiated down from a few thousand dollars or more. However occasionally the seller simply does not want the trailer and is happy to give it away for free.
Assuming that the buyer can actually remove the mobile home off of the property quickly.
You will only receive phone calls from sellers when people know that you exist. They must know who you are and how you can help them. You will only find and attract free mobile homes when you’re properly advertising, marketing, and better known.
Pro Tip: Begin advertising and marketing with inexpensive and guerrilla-type methods. Once you start making more profit from flip or wholesale deals, immediately reinvest everything back into more advertising and mobile homes.
- 19:30 Selling the trailers AS-IS.
- 20:15 Removing the bad smells.
- 22:30 Doubting your investment.
- 25:12 Approving buyers
When selling mobile homes for ALL cash, or wholesaling them, we are not as concerned about a cash buyers’ criminal status or job status. When selling for all cash, we’re looking for someone that actually has the cash in hand. However, if the mobile home you are selling is inside of a pre-existing mobile home park, the Park manager will almost 100% require the buyer and/or new resident to pass the parks background checks. If the mobile home “must be moved” after this purchase, then any cash buyer that has a mover lined up and land for the mobile home may purchase this mobile home from you.
When selling a mobile home for monthly payments, your eyeballs should be 100% open and eagle-eyes focusing on any potential payment-buyers looking at your rent-to-own mobile home.
We do NOT chase buyers. When selling on payments, aim to have multiple tenant-buyer applicants interested in the property due to the advertising and attractive terms. Let the mobile home and the attractive price or terms sell the mobile home.
In conclusion, mobile home deals rarely fall into our lap as newer mobile home investors without hard work and daily effort. After you’ve built up a noticeable reputation for yourself and made hundreds of purchase offers, opportunities have a way of finding you more and more. In the beginning of your mobile home investing career the majority of your time and effort should go towards building your reputation, networking, and specific advertising and marketing daily and weekly.
Mobile home investing should not be thrilling, but rather a predictable and safe business. If you are taking action regularly then you should absolutely have questions about mobile home investing almost daily.
