• 044 Own a Successful Mobile Home Dealership on a Budget with Doug and John

  • Apr 10 2024
  • Duración: 1 h y 17 m
  • Podcast

044 Own a Successful Mobile Home Dealership on a Budget with Doug and John Por arte de portada

044 Own a Successful Mobile Home Dealership on a Budget with Doug and John

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  • In today’s Mobile Home Investing Lessons podcast #44 we’re talking with active mobile home investor Doug. Doug has been an active mobile home investor in the state of Texas for over two years. Doug can now add to his title, Mobile Home Dealership Owner and operator.It’s been incredible to watch Doug bust-his-butt and grow his mobile home investing knowledge, returns, reputation, and now his own used mobile home dealership.Watch today’s podcast and discover…How to start your own used mobile home dealership?How to end things the right way with the wrong business partner?How to build an ethical and successful mobile home investing Empire?Disclaimer: Most investors can be wildly successful without ever building a mobile home dealership.Now it’s a family business!Doug was able to retire his wife from her full-time career. Now she works in the family business at the mobile home dealership lot when needed. It certainly does not hurt that Doug’s wife is bilingual and just as hard of a worker as Doug.Doug’s team members included:Mobile home moving companies: Doug outsources this task to different third-party mobile home moving companies he likes and trusts.Rehab crew: Paid for and maintained by Doug.Office manager: This role is filled with Doug’s wife. Overseeing day-to-day management of the dealership and more.Sales agent: A young go-getter handling office duties, showing properties, closing paperwork, due diligence, and more. This agent is licensed and working underneath Doug as a mobile home sales agent.Since this is now a family business, Doug lets his payment-buyers know that they will be dealing with him moving forward. Doug lets his payment-buyers know he is careful with his money, checks backgrounds carefully, and wants to make sure payment-buyers have the ability to repay for the home. If the payment-buyers do not pay, then he will be taking action and quickly repossessing the property.Pro Tip: Doug gives a ton of great tips throughout the video. However, it may be wise for you to not follow this specific advice about disclosing that you are the business owner. It can be very helpful for you to appear to work with a company. This way you don’t have to be the top dog ultimate decision-maker. This way you can be the “good cop” while the projected company remains the “bad cop”.Doug’s Business ModelsDoug does part of his mobile home investing business inside other people’s local pre-existing mobile home parks. Doug also does many mobile homes transactions when the home must-be-removed from current land. Doug pays for the mobile home and the transportation costs back to his dealership.In today’s video Doug talks about his three strategies once the mobile homes get to the dealer’s lot:Doug pays his full-time rehab crew to rehab the mobile home to rent-ready type of standards.Doug resells the mobile homes As-Is without putting any money into the property.The as-is mobile homes are shown to buyers. Some of these future payment-buyers agree to prepay for all the repairs to be completed by Doug. In this way Doug will not have to pay out-of-pocket to have his rehab crew do the work.Pro Tip: You can resell quickly if you resell for below-retail prices. Doug was taught to buy mobile homes at really good prices. Doug resells at competitive prices and therefore has multiple qualified buyers to choose from.Doug says, “Homeruns are awesome, but you make your money in doubles and singles.”Doug is reselling more than 50% of his used mobile homes on monthly payments that are moved to the buyer’s own land. That is right!… Doug is reselling the mobile home and having the buyer pay for the transportation and set up costs to the buyer’s very own land. Land with electric, water, sewer or septic and ready for a manufactured home.Typically, Doug aims to receive all his invested money back Day #1. Remember payment-buyers pay a nonrefundable fee to Move-In that may equal $5000-$10,000 or more depending on the manufactured home and location. Doug then creates a note for another 7 to 10 years of cash flowing payments with interest.Once a mobile home is sold for cash or payments, Doug gives the new buyer 30 days to remove the mobile home at the buyer’s own expense.Doug’s interesting transportation twist: Doug knows that when a mobile home travels down a bumpy road the inside of the home may shift or break. Cosmetic cracks and blemishes develop in the walls, ceiling, and tiles along the mobile home’s journey into its new location.Doug tells every mobile home buyer on his sales lot that these cosmetic cracks and blemishes may develop. If the buyer decides to use a third-party mobile home mover, then the buyer alone will be responsible for any cracks and blemishes. However, if the buyer decides to purchase the moving costs through Doug, he will make sure the mobile home looks the same as it is on the sales lot.How can Doug guarantee he will fix the repairs? Because Doug ...
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