Welcome back,
In today’s Mobile Home Investing Lessened podcast #56 we are talking to active Mobile Home Formula investors, Michael and Brian. Brian and Mike live and work full-time jobs in Manhattan, and commute to their mobile home investments out-of-state.
These 2 guys have been mobile home investing in New Jersey, Pennsylvania, and Maryland since beginning working with John in 2024. In this short time working together these two investors have closed 7+ mobile home flips for 5-figure paydays.
In addition to making money Michael and Brian are learning every step of the way. All this while actually helping local mobile home buyers, mobile home sellers, and mobile home park managers. These two investors are even working directly with and helping local mobile home park owners to fix and fill the park's unwanted vacant mobile homes.
Use the time markers below to fast forward the podcast.
0:00 Intro
0:30 Before mobile homes
4:10 Easy or Hard
5:00 Deals complete
6:10 Problems to overcome
8:00 Park manager pro tip
9:45 Pushing past the no
10:30 How has your marketing changed?
12:10 Investing out of state
15:10 Hours per week?
15:50 First deal stress
19:40 Have you ever wanted to quit?
21:50 Win-Win deals
24:00 2nd deal story
31:10 Working with a partner
32:40 Corporate VS mom and pop
35:45 Advice for your former selves
Pushing past the few negative park managers to talk directly with park owners
Brian and Michael do not give up easy. When a door is closed in front of them, they look for a way in through the window. This is no more evident than when a local park manager told them that they were not able to purchase a used mobile home from a seller in the park that was being evicted.
These two investors use the LinkedIn, the white pages, and skip tracing tools to track down the mobile home parks regional manager to talk directly with the person in charge. The regional manager welcomed these two investors with open arms.
When you know you have a very good deal in front of you, definitely push hard to make it happen. Where there is a will, there usually is a way.
Sacrificing the time needed
The time definitely has to come from somewhere. Even if you plan to invest remotely out of state or only focus on wholesaling mobile homes to start, aim to have at least 15 hours set aside per week. Five of the hours can be at night, but the rest need to be during the daytime any day of the week or weekend.
Building a safe and thriving business does not happen by accident. It does not happen without focus and weekly commitment. Again, 15 hours a week at minimum. If you have more hours or many more hours than that, then they will definitely be used while you are building your business for the first six months or more. After that more things can be outsourced and delegated out.
Getting paid to learn
Michael and Brian mentioned this in today’s podcast. They are making money while they are learning to invest in real estate and mobile homes. Brian and Michael are buying mobile homes through tax deed sales, mobile home park managers, online advertising, offline advertising, and more.
Besides the monetary gains these guys are making, they are also learning a great deal about people’s skills and dealing with buyers, sellers, managers of communities, handyman, contractors, and more people that we run into on a day-to-day business. If you have not invested in real estate before, be prepared to improve and grow as a person.
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
Listen to Brian, Mike & John's Mobile Home Podcast here...
