Welcome back,
In today’s Mobile Home Investing Lessons podcast #54 we are talking to active Mobile Home Formula investor, Lyndell. Lyndell has been mobile home investing in the great state of Luisiana since beginning working with John in 2023. In this short time working together Lyndell has become more confident investing in mobile homes, helping others, investing on his own, and growing a profitable investing business.
Lyndell has now transitioned into a full-time mobile home investor.
Being a newbie stinks! Lyndell has had to overcome mental fears and roadblocks, desires to quit, imposter-syndrome, being laughed at by friends and more, ALL before becoming success flipping mobile homes.
Pro Tip: Once you commit to investing in mobile homes and helping others, don’t quit. Keep going.
Use the time markers to fast forward today's podcast.
- ✔️0:00 Overview of Lyndell’s MH story
- ✔️7:00 Overcoming shame
- ✔️12:00 First mobile home flip in a park.
- ✔️16:40 Would you invest in this park again?
- ✔️22:00 Moment that changed your investing.
- ✔️25:00 Lyndell’s biggest mobile home deal?
- ✔️26:00 Don’t over fix a mobile home.
- ✔️28:45 Being embarrassed with a mobile home.
- ✔️29:30 Cockroaches in 2nd deal
- ✔️30:00 Working with a “friend”
- ✔️32:00 Awkward mobile home stories.
- ✔️36:40 Partnership pros and cons.
- ✔️39:00 What’s your next steps?
- ✔️41:00 Stolen property
- ✔️42:40 Neighbor’s WIFI to protect your home
- ✔️45:10 3rd mobile home doublewide
- ✔️48:00 Stress due to mover laziness.
- ✔️54:30 Avoid this error to save yourself stress.
- ✔️100:00 Unexpected about mobile home investing?
- ✔️102:30 Advice for mobile home investors.
Overcoming doubts. Gaining more confidence.
In today’s podcast video Lyndell plays it very cool and is quite confident as we talk together. This is far from how he acted towards mobile homes 1 year ago. When Lyndell began his mobile home investing career in 2023, he was just as new, unsure, and nervous as everyone else. None of us are born mobile home investors, we all have to learn one way or another.
Pro Tip: Serious determination, a very good plan, a phone, a vehicle, the willingness to ask questions, and $3,000-$15,000 of investing capital are the only 6 things needed to get started investing safely.
Becoming better is only natural. Becoming more confident and learning more about mobile home than over 98% of other people in your local market is a natural byproduct of being an obsessed mobile home investor. When you are actively saturating yourself with mobile home park managers, sellers, buyers, and other investors daily and weekly you are forced to learn and grow.
This is a good thing. Very quickly you will be the local mobile home authority in your market.
Start making money, then tell your friends you’re investing.
It may be human tendency to get excited about future plans and want to share them with friends. This excitement and the rush of dopamine we get dreaming about the future and preemptively patting-ourselves-on-the-back can be addictive. It is easy to get the rush of happiness explaining to your friends everything you will one day accomplish in the future. In these situations, you are getting all of the praise without any of the work.
If you're newer it may be beneficial to begin your investing career without telling your friends or family. The one single employee of your company is you. You are the golden goose, and we need to protect your mental and physical energy. Negativity is a real time and motivation killer. Negativity doesn’t want to see you succeed. Negativity wants to see you fail. Don't let this negative force win.
Pro Tip: The person that is going to push you the hardest is reading these words right now. You need to be your #1 cheerleader. Your opinion is the only one that matters.
Helping others and helping yourself
Every single mobile home investor is in this business to make a profit. You make profits by solving mobile home park problems and mobile home seller problems.
However, we can only make a profit when we continue to run an ethical business that helps others. The more people you help, the more profits you create so, you can advertise and help more people.
Until you are better known locally, mobile home deals will 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. Moving forward when you have any mobile home related questions please never hesitate to comment and/or email below.
Love what you do daily,
John Fedro
Support@mobilehomeinvesting.net
