For more info what we do and how we do it… click here… The Mobile Home Blueprint!
I was a rookie and just starting out real estate investing several years back. I wasn’t sure which way to go. What if I mess up? What do I do next? What if I lose money? Who the heck do I ask without sounding stupid?
To help others I put together this set of FAQs on some of the common and maybe not so common questions that new folks, including me, want to know.
Hidden Untapped Market. 95% of real estate ‘investors’ have purchased a program and ‘want’ to do a deal but truthfully they never invest in their first deal. 99% of the ones who do, NEVER touch mobile homes.
We see very little competition.
Market and Economy – Lots of people are working part time jobs, 2 part time jobs, self-employed, lost a home in the real estate market crash. They’re not getting a loan anytime soon.
Rent.
Economics 101 – Supply and Demand – With more renters, rentals get scarcer and scarcer. Landlords know this and raise rents with the scarce market.
Buy a mobile home.
If you buy on land, or a city lot, you compete with stick built house pricing.
So to be cheaper you have to buy in a mobile home park.
Those days are pretty well gone. Mobile home parks today are nothing like they used to be. There are bad ones, but rare. Again, the market has pushed improvements.
People buy a mobile home in a park. Pay it off and then they only pay space rent which is usually less than half of what an apartment would cost in the same area.
Sure! Noisy neighbors, kids running down the hall, no private parking, no yard for their kids. Mobile home living means you own your own 4 walls, ceiling, floor, parking, yard, patio, deck, etc.
Most definitely. We see returns waaaaay better than in traditional real estate.
3 recent deals each netted well over 400% annual return on investment. Try that with a stick built home!
Low cost of entry, less requirements than stick built, nicer returns on the investment.
Not as much as you might think. I started with $2,000. You can start with a few thousand dollars. Or nothing if you can work with someone who has some money. More on that later…
Willingness to learn more than anything. Some real estate knowledge helps go faster. But rookies can definitely do this business.
10% of housing is mobile homes. Over 20 million units in the U.S. Lots of them out there. Parks are in every state except Hawaii. (They have mobiles in Hawaii but pretty rare so it’s hard to make a business there.)
Watch the videos and send us your questions. We’ll answer or get an answer.
Good question. I’ve been doing stick built investing since 1999. I left my corporate job and went full time in 2003. I’ve done lease options, foreclosures, short-sales, rehabs, wholesale, and apartments. I’ve coached well over 200 people individually and in couples to do real estate investing since 2004. I’ve done many trainings to rooms full of people. Small groups to hundreds.
NOTE: For years I NEVER would touch a mobile home. Trailer, junk, depreciates, blah blah blah.
Tried mobile homes on a whim and WOW was I stunned. We did 17 in our first 17 weeks. The one regret I have in real estate investing is that I didn’t do mobile homes sooner.
So jump in and let’s rock. Go 4 It!
Have fun!
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