In today’s 34-minute Mobile Home Investing Podcast episode #43 we sit down with a very active mobile home investor involved in multiple deals in any one given time. Best part is that Caleb usually has little to no money invested into many of his deals. Sometimes Caleb purchases the mobile homes, however many times the end-buyer brings the cash money to pay the mobile home seller.
I’m very honored and so proud to introduce this North Carolina based active Mobile Home Formula investor, Caleb to the co-hosting microphone. This guy is one of the most easy-going people I’ve met. Listen to Caleb’s story below and tell me if you agree.
Caleb is a mobile home investor that stays persistent, puts in some work most days of the week, ask questions regularly, and overcomes most obstacles in his way. Plus, he does this all while raising a son, operating his own mattress store, traveling some, and struggling with all of the normal fears that the rest of us have on a regular basis.
We talk about this and so much more on today’s podcast below.
Any mobile home related questions please comment below or email me directly at the email provided below.
Special thanks to Caleb for coming on today’s podcast! Thanks for giving so much back already and being willing to help investors he’ll likely never meet.
Persistence, Ability to follow directions, and Ethics | Mobile Home Investing
If I had to choose 3 ideal traits that Caleb possesses that makes him a successful mobile home investor, the 3 mobile home investor traits are persistence, the ability to take action when directed, and high ethics to not chase the dollar bills when it comes to burning bridges.
- Persistence: Caleb could have given up 1,000’s of times. Building a sizable business, from nothing, takes a tremendous amount of persistence overcoming all of the no’s and hurdles.
- Follow directions: Try not to reinvent the wheel in the beginning, especially if you already have a working wheel. On this website learn how to inspect mobile homes and which mobile home repairs are deal breakers.
- Ethics: A big mistake many newer manufactured home investors make is not thinking long term. Many investors take shortcuts and burn bridges with sellers, park owners, managers, and more. Whether accidently or on purpose. This is a small investing-world and bad news travels quickly.
Caleb’s subniche in mobile home investing, is flipping and wholesaling mobile homes that “must be moved.
Caleb’s trick, he never moves them himself.
- The landowner’s problem: An unwanted mobile home on the landowner’s property. Perhaps this landowner wants to upgrade their current mobile home to a newer model. Perhaps the land was recently purchased or inherited, and the mobile home is simply an unwanted eyesore. Perhaps the mobile home was being rented out by the landowner which also lives in a separate house on the property. Perhaps the landowner is a mobile home park that is looking to remove all of the mobile homes from the 1980s from their community. In all of these situations there is an unwanted mobile home that needs to go.
- Underground world of mobile home buyers with land: There are a lot of landowners looking to save money on a good-looking used manufactured home. When landowners are looking to buy a mobile home for their land, they may want a two-bedroom or three-bedroom that is safe and looks good. Instead of paying $100,000+ for a new manufactured home, many landowners would prefer to pay you $20,000, $30,000, or $50,000 for a nice used unit. Even $4,500 if the mobile home needs total rehab. All of this is concerning mobile homes that must be removed from these landowners’ land.
- The problem solver: You. You are the one that can purchase the mobile home and remove the mobile home. Or, like Caleb does, resell the home to a cash buyer that will move the manufactured home to their own land. This way Caleb never moves the home. In over 20+ mobile home flips and mobile home wholesales Caleb has never moved a mobile home himself.
This need for sellers to get rid of their unwanted mobile homes that must-be-removed from their land happens across the United States. Every state there are sellers and buyers.
It is not a question if these must be removed mobile home sellers exist, it is a question if they will know who you are and how you can help them. Make it easy for mobile home sellers to connect with you.
In today’s mobile home investing podcast #43, we cover:
- 0:00 Caleb getting started.
- 2:20 Other real estate experience?
- 3:40 Wholesales only baby!
- 5:00 Who are your buyers?
- 11:20 6 mobiles under contract at once
- 12:10 Money into the deals?
- 16:10 Least and most profitable deals
- 25:40 Hours per week?
- 28:35 Motivation for other mobile home investors
- 30:05 Do the thang!
- 30:33 Working together with John
