Episodes

  • 050 Eleven Mobile Homes Bought and Sold in 11 Months with Rod

    050 Eleven Mobile Homes Bought and Sold in 11 Months with Rod
    Jun 21 2024
    Mobile Home Formula investor is Helping Mobile Home Sellers and Making Money in DC Area
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    1 hr and 1 min
  • 049 How to Make Money with Mobile Homes in 2024 with John and Megan

    049 How to Make Money with Mobile Homes in 2024 with John and Megan
    Apr 10 2024
    In today’s podcast video we are talking with active Mobile Home Formula investor Megan. Megan has been busting her butt for the past year making a name for herself in the mobile home investing space. Megan is now successfully investing around her state and is well known by other mobile home brokers and park managers statewide. This success did not come by accident, but rather from a specific plan and daily action from Megan.Like almost everyone, when Megan got started investing in mobile homes she had countless questions. Megan and John talked almost daily while building her mobile home investing business.Megan has overcome struggle after struggle in order to achieve her success. She knows she still has a lot more to achieve.A special thank you to Megan for hopping on today’s video to share her business details with others and help other mobile home investors she will likely never meet.Mobile Homes Investing VS. Single Family House InvestingNo one is born a mobile home investor. No one is born a single-family house investor. There are many ways to discover the real estate investing field, however typically investors find themselves gravitating towards 1 niche or another.Like many folks, when Megan heard about mobile home investing through her family, she was skeptical. Actually, Megan admits to rolling her eyes and laughing at the idea of investing in mobile homes. This attitude is extremely common, who wakes up and thinks to themselves “I want to invest in mobile homes today?”After doing more research Megan did the math to realize that mobile homes were just as profitable as single-family homes when it comes to monthly cash flow. Additionally…There are way less mobile home investors compared to single family home investors.There is way less capital needed when investing in mobile homes compare to traditional houses.The risk is much lower in mobile home investing, but serious risk does still exist.Mobile home sellers can be in a real time-crunch to get their mobile homes sold quickly.This year is a great time to sell mobile homes for all cash or monthly payments.When selling mobile homes on monthly payments the cash flow can be very similar to that of site-built houses.Sacrificing Today’s Resources for Her Family’s FutureDo not believe anyone that tells you mobile home investing will make you rich quick.Mobile home investing regularly in deals every month can take 20 to 30 hours each week dedicated to your mobile home investing business. Think you have what it takes?Megan tells of a story about her driving over two hours away from her home to invest in a killer mobile home deal. Megan stayed an additional few hours at the mobile home while the seller packed up and moved out. Megan then had to drive all the way back home late at night. This was done with her kids and newborn baby in the car with her.Megan has put in the time to learn this business, to overcome her fears in order to gain the skills to helped so many local mobile home buyers and sellers in her market.Appreciating What You’ve Accomplished, While Still Always Aiming for Bigger Goals.Outsourcing is what Megan is currently working on growing. Megan’s mobile home business is growing, and she will need to outsource and automate her mobile home investing daily workload in order to scale and continue investing in mobile homes while investing less of her own personal time.Megan is becoming the definition of, working smarter and not harder.In today’s podcast you can watch Megan as she discusses her attitude about her recent successes. As we become more and more successful, the goalpost keeps moving further and further back. This is normal and a very healthy sign your business is growing. As we accomplish one goal another pops up! Megan is also appreciating where she has come from and the success she currently has.Megan admits to doing bigger and bigger deals that she never dreamed were possible. Achieving her goals is a direct reflection of the time and commitment Megan has put in to learning this business, partnering with the right mentors, and taking daily action even though she is scared at times.Megan has no intention of slowing down anytime soon!In conclusion, mobile home investing takes hard work and typically daily effort to make a consistent name for yourself and help multiple buyers and sellers monthly. You will never learn everything you need to know about real estate investing from reading books or watching videos. While there are many ways to make money in real estate, there are countless ways to lose profits as well. Have fun and take daily action to reach your financial goals sooner rather than later. If you have questions, please ask them. There are plenty of active investors around to give you help and guidance if you simply ask for it.
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    55 mins
  • 045 Southern Gal Wins Big with Mobile Homes on Land with John and Lameka

    045 Southern Gal Wins Big with Mobile Homes on Land with John and Lameka
    Apr 10 2024

    Once upon a time, there was a lady named Lameka who wanted to do something really special. She wanted to make money, but she also wanted to help people. She had a big dream of owning mobile homes and turning them into nice places to live while making some money. In today’s Mobile Home Investing Lessons podcast #45 we’re talking with active mobile home investor Lameka.

    Facing Her Scary Feelings

    At first, Lameka felt scared because she didn’t know much about mobile homes. But she didn’t let fear stop her. She decided to learn all she could about mobile homes. She read books, went to meetings, talked to people who knew a lot about them, and found a partner to learn from. Learning made her feel less scared.

    Lameka says, “with passion, belief, action, and accountability, we can achieve anything!”

    Helping Others and Making Money

    Lameka didn’t just want to make money; she wanted to help families find good homes they could afford. She knew mobile homes could be great for that. So, she bought some old mobile homes and fixed them up to make them nice and cozy. This way, she could help people and make a profit too.

    Finding People Who Really Wanted to Sell

    To make her dream come true, Lameka needed to find people who really wanted to sell their mobile homes. She got good at this by talking to lots of folks and building trust. When mobile homeowners needed to sell fast, they thought of Lameka because she was local, friendly, and fair.

    Selling Fast to Happy Buyers

    Once Lameka had nice mobile homes ready to go, she wanted to sell them quickly. She made sure to tell people about her homes and show them how great they were. Buyers were happy because Lameka was honest, and they got good deals. She sold mobile homes for all cash and others for monthly payments.

    You Can Do It Too

    Lameka’s story shows us that even if we feel scared, we can still go after our dreams. If you’re interested in mobile home investing like Lameka, start by learning more about it. Talk to people who know about it and continue learning. Don’t let fear stop you. Use it as a way to make yourself better.

    Lameka says, “Whatever your goal, stay focused and take action to make it happen.”

    Lameka’s adventure is proof that we can do amazing things when we try. You can follow in her footsteps. You might even discover that you can help people and make money at the same time. So, don’t be afraid, start your own adventure in mobile home investing!

    In today’s Mobile Home Investing Lessons Podcast #45, we uncover:
    • 0:00 Welcome Lameka
    • 1:10 Mobile home investing VS Youtuber
    • 2:00 Multi-passionate Entrepreneur
    • 2:30 Real estate investing crash.
    • 7:00 Learning a new business.
    • 9:00 Invest without ever seeing the mobile home.
    • 11:00 Keep the home and rent the land.
    • 16:45 Park manager relationship.
    • 18:40 Investing safely.
    • 24:10 Buying or Brokering?
    • 28:00 Working with banks.
    • 31:00 Deal breakers when selling.
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    34 mins
  • 046 Best Friends Close 70 Mobile Home Deals Quickly with John and Ian

    046 Best Friends Close 70 Mobile Home Deals Quickly with John and Ian
    Apr 10 2024
    In today’s 33-minute Mobile Home Investing Lessons podcast episode #46 we sit down with active Mobile Home Formula members Ian and Daniel. The two best friends have helped dozens and dozens of mobile home sellers and buyers in their short time investing.Over 70+ mobile homes bought and sold, or wholesaled, in just over three years. This averages out to 2 mobile homes purchased and resold each month, for 36 months straight.These investors are not geniuses, but they are hard-working, ambitious, dedicated, and ethical friends that do not have to work a 9-to-5 job anymore. Listen to what these two investors have to say.A special thank you and shout out to Ian and Daniel for hopping on today’s call. Hopefully their sacrifices will now go on to help you grow your mobile home flipping business.In today’s mobile home investing podcast #46, John, Ian, and Dan gossip about…0:00 Introduction0:45 What are you willing to sacrifice?1:30 How much cash did you have to start?3:15 Cash or Cash-flow for you?5:15 Tips partnering with a best friend.8:40 Work life balance tips.12:05 Deals out in the middle-of-nowhere.15:00 What does an average deal look like? 16:20 Do you need a sales lot?18:10 Do you think your age matters?18:50 Do you have a boss?21:50 Discrimination24:30 Providing value over price to seller.27:00 Setting correct expectations.28:40 Taking 6 months to close?29:00 Hours you put into your deals.31:20 What’s been one of your simplest deals?#1 SacrificingHelping others and growing a business requires you to make regular sacrifices. We all intuitively know this and understand that growing anything substantial will take time, effort, and some capital. However, until you have traveled the journey yourself, either by yourself or with the help of a partner, it will only be something you have heard about secondhand.Ways to help your business:Vision boards: Cheesy or not, they help when you see them multiple times per day.Hang around other like-minded investors. Join one or multiple real estate investor clubs nearby. Perhaps start your own.If you’re willing to sacrifice for the next five years will be able to do amazing things. Keep in mind that you should be achieving profitable deals right out of the gate.As you watch and listen to Ian and Daniel’s podcast you will hear the sacrifices, they make to be accountable to themselves, each other, and their business.SACRIFICE your TIME hanging out with friends IN ORDER to meet with park managers and other mobile home sellers to build your successful business.SACRIFICE your EGO IN ORDER to be a beginner and begin to master something new.SACRIFICE your ENERGY and personal time IN ORDER to guerrilla market your business and service to build your successful business.SACRIFICE your FAMILY time IN ORDER to close with buyers or sellers and build your successful business.SACRIFICE some PROFIT IN ORDER to keep the deal moving forward and make the seller happy.Everyone that you see who is successfully investing in multiple mobile home properties is making constant sacrifices. Keep in mind that the sacrifices are definitely a good thing… No pity is deserved here. If you are reading these words and are not yet a active mobile home investor, then you have more sacrificing to do. We all do.#2 Multiple purchase strategies to help most mobile home sellers.Having multiple strategies to help each mobile home seller is something we talk about on this website often. Mobile home sellers often times have various and/or complicated issues going on. Depending on the different moving pieces, your purchase offer and/or exit strategy will likely vary.Purchase strategies when…the mobile home has a title problem, then…the mobile home needs to be removed ASAP, then…the mobile home’s lien must be paid off prior to closing, then…you are starting with limited capital, but you still want to close big deals, then…the mobile home park manager does not like you, then…the mobile home needs way more repairs than you are comfortable with, then…the mobile home seller is out-of-state, then…the entire mobile home is in another state, then…the mobile home also includes land and an underlying mortgage, then…it’s the winter months but there seems to be a very good opportunity, then…the mobile home is in a park location you are not familiar with, then…the mobile home neighbors are terrible neighbors, then…the mobile home seller does not need all their money up front may consider payments, then…you temporarily don’t have the knowledge or resources to know what to do, then…Depending on the scenario, have a way to help each seller and never spend any more money than needed.It can absolutely be scary out there for a newer mobile home investor. Aim to educate yourself with websites like this one, and other free blogs, vlogs, and podcasts talking about investing in real estate or flipping mobile homes. Ideally every mobile home question you have should get an answer. ...
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    39 mins
  • 047 Ethical Mobile Home Investing for Success with Tonya and Anthony

    047 Ethical Mobile Home Investing for Success with Tonya and Anthony
    Apr 10 2024

    In today’s mobile home investing lessons podcast you are in for a treat. I’m so proud of these two investors. They are such great examples of running a successful mobile home investing business with a spouse. Tonya and Anthony have been happily married for decades. They’re now busy full-time mobile home investors that started investing just a few years ago.

    In a short period of time Anthony and Tonya have proven themselves as trustworthy and life-changing investors/brokers for the mobile home buyers and sellers they work with.

    Mobile home investing requires determination. Success requires determination. Determination is not something that can be taught. You either have it or you don’t. These two investors are a great example of dedicated and determined investors.

    Special thanks to Anthony & Tonya!

    In today’s mobile home investing podcast #47, we discussed…

    • 0:00 Mobile home investing
    • 1:30 Prejudice towards mobile homes.
    • 3:00 Background before mobile homes.
    • 5:45 Deals you both won’t ever do.
    • 8:10 Giving advice for free.
    • 9:40 Benefits to people liking you.
    • 11:10 Most shady people
    • 16:15 Buyer beware.
    • 19:20 Brokering mobile homes.
    • 21:30 Park being shady stealing deals.
    • 23:20 Salvaged mobile home title process.
    • 32:40 Underground market for homes with no VIN or Title
    • 33:30 Working with John

    Helping Others First

    Zig Ziglar roughly says, “The more people you help, the more value you will create.” As investors and entrepreneur, we do not get paid weekly to start. Before the riches comes education and helping many people for free.

    Becoming a Mobile Home Licensed Broker or Dealer

    Almost every state requires an individual to become “licensed” when more than a certain number of mobile homes purchased and resold within a year. Or if an individual is acting as a personal property realtor between mobile home buyer and mobile home seller for a profit. Both these scenarios may fall under a mobile home dealers/retailers license or a mobile home broker’s license.

    Not every unlicensed investor is ethical, unethical, knowledgeable, or unknowledgeable. Same goes for licensed investors who are not always ethical into are not always knowledgeable. It is important for each one of us to become educated and make sure we set our buyers and sellers up for success.

    Winning Requires Determination

    As you listen to today’s podcast it is easy to hear how Tonya and Anthony could have quit at any moment in the past. These two investors support one another and love one another whether any deals fail or succeed.

    Today’s podcast shows example after example of Anthony and Tonya remaining persistent and focused towards achieving their goals. Success does not care if you are excited, feeling positive, or feeling negative. Success only requires that you do the work.
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    36 mins
  • 048 Helping Others and HUGE Profits with Mobile Homes in 2024 with John and Wayne

    048 Helping Others and HUGE Profits with Mobile Homes in 2024 with John and Wayne
    Apr 10 2024

    In today’s mobile home investing lesson podcast #48 you’ll hear from a new father and son investing duo. These newer mobile home investors have been having recent success wholesaling and flipping mobile homes to happy cash buyers. These investors even have cash-flowing mobile home properties located in safe and populated areas.

    None of their success came by accident. Wayne Sr. and Wayne Jr. dedicated themselves to learning this mobile home investing business. They are successfully making a name for themselves locally.

    Special thanks to Wayne Sr. and Wayne Jr. for hopping on today’s podcast to help other mobile home investor’s they’ll likely never meet.

    Wayne Jr. and Wayne Sr. got started with little real estate knowledge and zero manufactured home investing experience. What they lacked in experience and knowledge, they more than made up for in desire, motivation, and persistence to learn everything they could about the mobile home flipping business and how to safely help others.

    Wayne Jr. & Sr. wanted the best mobile home education they could get as a mobile home investor.

    Watch and listen to today’s podcast for a clearer picture of what your mobile home investing business can look like in 2024.

    Whether you are investing in mobile homes full-time or part-time, the goal is to help others while creating a substantial profit for yourself. The more people you help the better your reputation becomes, the more your knowledge grows, and the more people we can continue helping.

    Some say mobile home investing is the most affordable way to break into a real estate investing career. Decide for yourself if mobile home investing is right for you. Sign up for a FREE membership to learn more about mobile home investing here.

    In conclusion, mobile home investing takes hard work and typically daily effort to make a consistent name for yourself and help multiple buyers and sellers monthly. You will never learn everything you need to know about real estate investing from reading books or watching videos. While there are many ways to make money in real estate, there are countless ways to lose profits as well. Have fun and take daily action to reach your financial goals sooner rather than later. If you have questions, please ask them. There are plenty of active investors around to give you help and guidance if you simply ask for it.
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    51 mins
  • 044 Own a Successful Mobile Home Dealership on a Budget with Doug and John

    044 Own a Successful Mobile Home Dealership on a Budget with Doug and John
    Apr 10 2024
    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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    1 hr and 17 mins
  • 043 Juggling 6 Mobile Home Wholesale Deals at Once with John and Caleb

    043 Juggling 6 Mobile Home Wholesale Deals at Once with John and Caleb
    Mar 28 2024
    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 InvestingIf 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 once12:10 Money into the deals?16:10 Least and most profitable deals25:40 Hours per week?28:35 Motivation for other mobile home investors30:05 Do the thang!30:33 Working together with John
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    34 mins