I recently inherited 2acres and a mobile home in greatcondition. I am thinking about adding more mobile homes to the land. Thanks your video was helpful
Thanks for reaching out and connecting! I really like your idea about adding more mobile homes to this land. Check with the zoning department locally to go over your plans. Moving forward any follow-up mobile home questions big or small never hesitate to reach out anytime.
John thank you for this video, I remember when I started watching your videos 3 years ago when I migrated from Africa to America, your explanations where always practical now I have mobile homes on lands and in parks that I sell on payment or rent out and I have been able to also partner up with a lot of investors in my state that have helped my business a lot, we mostly do wholesaling but I really want to grow into the mobile home park game and that's been my focus for this year, learning the ropes about doing due diligence and process of funding the park
Thanks for watching! Thanks for commenting too. I hope this video has been helpful. Great work with the mobile home deals on land and in parks. I have no doubt that all of these deals, lessons, and successes did not come without a great deal of hard work and daily effort on your part. Seriously great work. Keep this up moving forward! You will absolutely be getting into parks. Do more research, ask a lot of questions, and keep in touch moving forward.
This is great advice...At one point in my life I was on a mission to own 15 homes. I got to 5 and we were killing it...All I did was listen to podcast and just manifest getting to 15. It got to a point that my wife started throwing stones. Calling me greedy and saying things like all I think about is money. It would happen when we were arguing. I lost that passion, sold them...Still came out on top though. I paid off our primary residence and also purchased 20 acres cash, with the intent to build my retirement home. I am now looking at getting back into the game. Now she realizes she shouldnt have said things like that. I know Id be at 15 by now if I had stayed the course. But you do have to become obsessed with it.
Thanks for commenting and being so candid! This is an incredible story. I am glad that you and your wife are still together. It is incredible that one partner can completely sink the entire relationships financial future. You're absolutely right that you would've likely been actual goal of 15 homes or more. That is definitely no easy task. A serious congratulations in the first place forgetting to five homes. Pat yourself on the back. If I had known you back then, I would've definitely been proud of you. You should be proud of yourself as well. Your wife should have been proud of you back then. I wish you nothing but the best moving forward. It is not too late and if you have any mobile home related questions now or moving forward never hesitate to reach out anytime.
In my 60s and I am just getting started. I am only at the reserch and learn how phase. This sound interesting and exciting. Thank you for the encouragement, John. I will be watching all of yout videos. It is June. I am making a goal to do my first deal by November.
Hi Justin! Really glad it was helpful! Thanks for reaching out and commenting. Really happy to hear that this was helpful. Moving forward any mobile home investing follow-up questions please never hesitate to reach out anytime.
Hello John. First THANX for all the great, great information. Have done two deals so far and doubled my money. I’m 68 and slowing down physically. Can you tell us how to find mobile home parks that I can find deals in in any state so I can make deals for folks on fixed incomes. Thanks John.
Hello. Thank you so much for reaching out and commenting. I do hope that these videos have been somewhat helpful to you already. First things first, congratulations on the two deals you have done. I have no doubt that these deals did not come without a great deal of hard work and daily effort on your part. Keep up the great work moving forward. I am not sure that I understand your question. You mentioned helping folks on fixed incomes, we you looking to sell these folks the entire mobile home parks or simply the individual mobile homes in the parks? The answer to both of these is a bit different in my experience. When it comes to individual mobile homes it is best to have them come to you. When dealing with mobile home park sellers, it is best to go to them. However this does sound like a good idea free future video here on RUclips. I hope that this helps a little bit. Feel free to write back and let me know any specific questions or clarifications that you have.
Hey John, this video is right on time! I had some goals in mind for this year, but maybe I was thinking too grand for this year at least. I am going to re-evaluate and adjust. :)
Hi Cecelia! Really glad that this video is helpful for you. With a proper plan almost anything is possible, and you have already proven yourself and that you are not afraid of putting effort and overcoming struggles. Keep up the great work in 2023. Talk with you soon.
Thanks for commenting and stopping by. There are so many mobile homes around the country that 10 doesn't seem to be too many at all. But they'd make a good retirement plan for sure. On your journey to own 10 mobile homes you will definitely have some questions that pop up here and there. Never hesitate to comment back or email me directly with any follow-up questions.
Thanks John! That was helpful! We’ve been following you for quite some months now and have wholesaled and rehabbed a couple of mobile homes but more to learn for sure. I do have some title questions. What’s the best way to reach you?
Thanks for commenting and reaching out. If you have title questions I would encourage you to comment them here so that everyone else can learn from your questions. However if you would like to email me more directly you can always do so at support@mobilehomeinvesting.net. Happy to help if possible. All the best.
Eating an Elephant: You can’t eat the beast in one sitting, but 3 meals EVERY DAY... you can EAT AN ELEPHANT If you simply do 3 things EVERY DAY toward your goals... by the end of the year you will have accomplished almost 1100 steps toward your goal.
Hi Eva. All good questions. I only partner and lend money to folks I'm working with one-on-one in the mobile home formula training program. However at the end of the video when I was talking more about personal goals, I was mentioning about starting a fund for mobile home parks. This would be collecting capital from outside individuals who would like to make a good return on their money back by a fund that invests in mobile home parks. However if you're looking for capital that I would encourage you to continue saving on your own. I am not a believer of getting into debt for going into business. There are good deals out there where you do not need much money at all. However having a couple thousand dollars saved up will be very helpful and make sure you start safely to keep doubling your money again and again until you can do bigger deals and start selling them or for cash flow. Hope this helps and all makes sense.
Hi Thomas. Thanks for reaching out and connecting. Hope the video was somewhat helpful. Moving forward you will definitely have more mobile home related questions. Never hesitate to reach out anytime. Comment here or reach out to me directly John@mobilehomeinvesting.net. All the best.
Thanks again for commenting. Well I should have read this comment before commenting on that last comment you made. If you are able to tie into a nearby sewer system that would be the best way to go. Then again you may have to go through some people's land to get to the nearest sewer line if possible. Placing down 960 septic tanks would definitely not be ideal. In the past you could likely do three mobile homes to one septic tank, or to mobile homes to one septic tank. But nowadays it is typically 1 to 1. Depending on your area of the country a septic tank will run anywhere from $5000-$15,000 professionally installed. With septic tanks you are also limited to how many you may place per acre, and therefore this will limit how many mobile homes you are able to place down as well. You will also need a perk test to determine how the soil drains and what type of septic tank you will need to go with. Hope this helps and makes some sense.
Thanks for the info! That park in the drone footage has a lot of single wide homes. Are single wides the majority in the parks that you own? Are there a lot of double wide's in parks? Cheers
Thanks for watching and commenting. Good observation. You are absolutely right about all of those singlewides. Yes, doublewides are allowed as well. Many of the lots at the end of each row are perfectly suitable for doublewides. There are definitely nothing wrong with doublewides as well. In some communities you will find that the majority of the homes are only doublewides. You may be able to create value with many of them so be open to most sized mobile homes. Moving forward any follow-up mobile home related questions please never hesitate to reach out anytime.
@@MobileHomeFormula So the majority of the homes are singlewide. Do you find that the tenants in majority of parks prefer the single wide? In a perfect world, you were to start a brand new park, would you make pads for single or double wide homes? Thanks for getting back to me.
Thanks for watching and commenting! I am imagining that you are likely in an unincorporated area not inside of the city limits. I am also guessing that you do not have a permit to build a 960 space mobile home park currently. Then again, if you are in an unincorporated area then you probably do not currently need a permit like this. I'm curious if the 960 spaces takes into account a road layout that makes sense, along with adequate areas for septic tanks if needed. Then again, if no septic tanks are needed, and a sewer system is able to be used by the county or city than that would get around any EPA issues with regards to how far apart these mobile homes need to be to account for the septic tanks. With that many homes there should absolutely be freshwater to hook up to from the city or county, you would definitely want to avoid a well for all of these homes. An issue you may run into if the city does expand nearby and does eventually incorporate or annex this area into the city, is that the city may say you are not able to replace the current mobile homes with new ones should they burn or become dilapidated. However if you did build something like this from scratch, it would certainly take a great deal of money but you would be left with a very valuable and profitable community. Additionally, you could make this how you wish so that it is much more modern than traditional parks built 50 years ago or so. All in all, I hope that this works out. You definitely have a huge task ahead of you. I wish you nothing but the best moving forward. Feel free to keep in touch along the way. We would love to hear about this more as you develop things.
Question: Just started watching, got referred from a Justin Waller video. I was looking into renting or renting to own some mobile homes and it says in Nevada you need a license to do so, and the application requires relevant experience? Is there a way around this? Thanks so much
Thanks for watching! Glad you are looking at doing things the right way to get started. You are right that in Nevada they ask for more information and requirements than in other states. Please check out a previous video I did when it comes to mobile home licenses. It is important to know all the options, do things the right way, and become licensed. ruclips.net/video/iYG3ig_oQ-A/видео.html I hope the video helps and points you in the right direction. Any follow-up questions never hesitate to reach back out anytime.
Hey John new subscriber here. I would like to buy a mobile home in an existing park and rent it after a year of living in it and upgrading/fixing it myself. How do I get started? What are the numbers I need to crunch? Is it a viable way to snowball in to buying a park myself? Any and all tips are greatly appreciated!
Hi Mike. Thanks for watching and subscribing. Hope the video was a bit helpful. Glad to hear about you wanting to purchase a park eventually yourself. This may be sooner than you think. However you absolutely have to talk to a lot of park managers/owners to get to this point, in my opinion. However that happens is a normal mobile home investor. I'm not sure what area of the country you're in, however within driving distance there are likely hundreds of parks around you. Some of these parks to be poorly operated and some of them wonderfully operated. Some of them will need your help and want your help, and some of them not so much. When you resell a mobile home for all cash make sure you were able to double your money or so. When selling on payments you should do much better. If you don't have much cash to start with that wholesaling may be wise however you definitely need to know how you are helping each seller and the resale prices of homes in your area. However back to your initial question about living in a mobile home, fixing it up, and reselling it. Because you will be living in the mobile home, make sure it is a mobile home park that is desirable and you also like it very much. I'm not sure if you are able to do repairs currently, or you plan to learn as you go, however either way a handyman or inspector through the home if you are not working directly with a partner that has invested in mobile homes before. Three bedrooms are typically more desirable than two bedrooms, so consider a three bedroom if possible. This a be easier to resell as well. Make sure the park is normal with regards to the application process, rules, and fees. Hope this helps and gives you some things to think about. Feel free to keep in touch. All the best.
Thanks for commenting! I believe you are asking how much money should you have to begin investing in mobile homes. While you can begin investing with little to no money, I would encourage you to have at least a few thousand dollars for mobile home investing purposes. Even this limited amount of money will get your foot in the door to more properties than you may think. This is a very short answer however I hope this does help and point you in the right direction. On this channel I have made another video with regards to "cash poor" type of investing. Any follow-up comments never hesitate to reach out anytime. All the best.
NEED HELP! what do you do if your trying to purchase a mobile home on a lot that's rented and they want a 12 month lease. What if I'm flipping the property in 90 days??
Very good to hear from you. As mobile home investors the mobile home park managers understand that we will be reselling the homes very quickly and therefore someone else will very soon be getting approved for the park and will be signing a new lease to step in our place. Most park managers are completely fine with this however they do want someone to be on the lease at any one given point. So as soon as you find an approved buyer that is park approved then that person may sign a lease and step in your place. Only if the park is looking for reasons to not work with you will they say that this is not possible. They will tell you that there is absolutely no way for you to back out of the lease once you sign it. This is code for the fact that they do not want to work with you in this particular park. Keep going to other communities nearby or aimed to wholesale this mobile home instead of purchasing it yourself, or purchase it to remove it from the park. However that last suggestion is not highly advised. My advice is to go back to the manager to introduce yourself and make sure they are okay with you getting another park approved buyer to take your place in 90 days or less once the home is fixed some.
Thanks for watching Harrison! Having the finalizing talk with my attorney soon. Trying to work around only having been credited investors involved. Would rather work with nonaccredited investors as well if possible. I will keep you posted. More info to come.
Hello John, thanks for uploading the video, I was wondering if you know how to get a permits if in California. I want to buy land and convert to affordable homes. Thanks
Hey Gary. Thanks for reaching out. There are definitely investors in California purchasing land that is owned for mobile homes but vacant at the moment, then adding a new or slightly used mobile home to the property. After you do this both properties are worth much more and can be resold to a bank financed buyer or you may sell the home be a cash or payments and keep the land for long-term lot rent income. The permit process in California can definitely be a slow one, however moving homes onto land that you own is possible and is already being done. Keep in mind that if the land is not sown for mobile homes that will be very difficult to change this zoning and allow a mobile home to legally go there. When you have land in mind contact the local zoning department and property appraisers office to ask more questions about placing a manufactured home on this property, how big the home may be, what age it may be, and any setbacks the property has. I hope this helps and points you in the right direction. It is a bit of a quick answer however I hope it makes sense. Any follow-up questions never hesitate to reach out anytime.
Thanks for commenting! lol Glad that you are hooked! Being hooked and obsessed is definitely the first step to having a successful business, at least in my opinion. The cost of the mentorship is more than just putting down some capital. You can learn more about us potentially working together and partnering by clicking the "work with John" tab on my main noble home investing website. There is also a free course there to go through to see if mobile home investing is right for you. Hope this helps and points you in the right direction.
Thanks for stopping by and commenting. In some states you will eventually be asked to obtain a mobile home broker's license or mobile home dealers license if you continue to make money with individual mobile homes month after month. Learn more depending on which state you're in and how most of us are moving forward safely investing in mobile homes and ethically helping both buyers and sellers. Hope this helps some. ruclips.net/video/iYG3ig_oQ-A/видео.htmlsi=OZDo-imA_tsUsFZn If you have any follow-up questions never hesitate to reach back out anytime.
Hi Eva. It is good to have a little bit of money when you start investing. Not much, however you are starting a business. That much money you will be selling your first few mobile homes for all cash. Or potentially wholesaling them for all cash. There is a good deal to know and you will have a lot of questions along the way. Check out this channel for more videos the talk about getting started and how much cash you may want to consider having. Keep in touch moving forward.
Hi I'm really interested in doing this i mean I starting from scratch literally no money in I kno how it is out here like being homeless so I really want to help people with affordable rentals any information would help
Thank you for reaching out and connecting. Really happy to hear about your ambition and dedication to improving the lives of others and yourself. Moving forward you will definitely have mobile home related questions. Hesitate to write back here anytime or email me directly. Always happy to help if possible. All the best!
YEEAAAH!!!!! That is great to hear, Philip! I hope the deal is even more profitable than you expect. Moving forward, any follow-up mobile home related questions please never hesitate to reach out anytime.
Thank you for commenting. That will be a bit easier said than done. It will not be difficult to purchase some land where you will be able to bring on multiple mobile homes. Usually land outside of city limits allows for mobile homes where you will have to add private utilities like a well and septic tanks for each mobile home you bring in. Or perhaps you will be able to share the well and septic tanks among a handful of mobile homes. This will be decided by the local laws and also the EPA rules. However what you have here is not a true mobile home park, it is a piece of land with a bunch of mobile homes on it. The difference between this and a permitted mobile home park is that should the city expand to annex your land, the city may require that the mobile homes be removed or when they are removed you are not able to put/replace the old mobile home with a newer one. Before you build a park having a park permit that is signed off by the local municipality is important so that it may remain a mobile home park for ever into the future. This means that the local government cannot mess with you and if you are permitted to have a 50 space mobile home park then it should remain a 50 space mobile home park. I hope this helps and make some sense. Moving forward any follow up questions never hesitate to reach out any time.
Hey Robert. Thanks for reaching out and connecting. The short answer is probably not. Creating a new permitted park would require obtaining a permit and likely having to convince city officials to change the zoning or give you a permit and agreed to have a bunch of new mobile homes for ever in this location. However if the land is outside of the city limits then perhaps there is no governing body that permits this area. This means that you could legally add on multiple mobile homes while hooking them up to some type of water source as well as sewer or septic system. The mobile homes would have addresses and power and would be ready to sell on payments or rent them out. However this is not an official mobile home park. It is a piece of land with a bunch of mobile homes on the land. This will be legal and perfectly acceptable until something changes with the law or the local city annexes this property and demands that you change what you have going on in some way. This is definitely a short answer however I hope it makes sense. If you have any follow-up questions please never hesitate to reach out anytime. You can also call your local tax department and local property appraisers in the county where the home is to ask more questions. Hope this helps. All the best.
@MobileHomeFormula Thank you for your advice. I deciding on making it a contractor storage yard, or I was thinking of mobile homes. It's 1.4 acres zoned industrial and I'm thinking of the best possible way to turn it into low maintenance earnings due to me living in another state.
I don't think I'm wearing my muskrat hat in this video, but there is another video where I'm inspecting mobile homes in freezing weather. In that when I am wearing a pretty sweet looking similar type of hat. I still wear it to this day. I suggest you get yourself one if you're in a cold climate. Thanks for watching!
Thanks for reaching out and commenting. When I am partnering with individual mobile home investors that are buying and reselling or wholesaling individual mobile homes then we have to be working together 1 on 1. In this way I know what they are doing regularly and I can vet out who is not trustworthy, or an excuse maker, or liar, and of course only recommend that we do only the best deals. If you were talking about a mobile home park partner, then typically we are both bringing some money to the table and we both have skin in the game. However also doing a background check and credit check on your partner is a very good idea as well. They should have nothing to hide and most background check softwares do soft credit checks that do not impact a person's credit score. If the person has something to hide that may be a problem. Hope this helps and makes sense. If I did not fully answer the question then please feel free to write back any time.
Thanks for commenting! Any follow-up mobile home questions you have never hesitate to reach out anytime. Check out my website for more mobile home investing information.
Thank you for reaching out and connecting. Thank you for asking. You are certainly already starting the beginning process by educating yourself. Moving forward any false mobile home related questions that you have never hesitate to reach out anytime. You may comment back here or email me directly at support@mobilehomeinvesting.net.
Hi Dave. Mobile homes sink for various reasons. Depending on the source of why the home is sinking, that may want to be addressed first before you re-level the home. However to re-level the home you can either hire some handymen to use bottled jacks to jack up the home and add blocks or wooden shims to make the home level. Or a mobile home mover may simply use their toter truck to lift up the home from the tongue and re-level it with blocks and shims. Either way the should cost thousand dollars or less in most cases for a single wide. The least that is what I look to pay. I hope this helps and makes sense. Moving forward any follow-up questions never hesitate to reach out anytime.
When I initially started investing in individual mobile homes I was down to my last few dollars. I spent my life savings of $3000 advertising and marketing for single family houses. However the first deal I ever purchased was a mobile home inside of a rental community. I had to negotiate cellular financing on the deal because I did not have the money for the seller. Negotiated a purchase price of around $3000, negotiated down from $8000 the seller was originally asking. I gave the seller $300 at closing and another nine payments of $300. I took over lot rent, which she was behind a couple months anyway and being evicted. She was happy and I was happy. I was quickly able to turn around and sell that property on payments with a good down payment and monthly payments for many many years. That is what got me into this business. If you have little to no money you can begin mobile home investing but you absolutely need to know what you are doing and it is important to not make any mistakes as you really cannot afford them. Hope this helps and makes sense.
I recently inherited 2acres and a mobile home in greatcondition. I am thinking about adding more mobile homes to the land. Thanks your video was helpful
Thanks for reaching out and connecting! I really like your idea about adding more mobile homes to this land. Check with the zoning department locally to go over your plans. Moving forward any follow-up mobile home questions big or small never hesitate to reach out anytime.
John thank you for this video, I remember when I started watching your videos 3 years ago when I migrated from Africa to America, your explanations where always practical now I have mobile homes on lands and in parks that I sell on payment or rent out and I have been able to also partner up with a lot of investors in my state that have helped my business a lot, we mostly do wholesaling but I really want to grow into the mobile home park game and that's been my focus for this year, learning the ropes about doing due diligence and process of funding the park
Thanks for watching! Thanks for commenting too. I hope this video has been helpful. Great work with the mobile home deals on land and in parks. I have no doubt that all of these deals, lessons, and successes did not come without a great deal of hard work and daily effort on your part. Seriously great work. Keep this up moving forward! You will absolutely be getting into parks. Do more research, ask a lot of questions, and keep in touch moving forward.
This is great advice...At one point in my life I was on a mission to own 15 homes. I got to 5 and we were killing it...All I did was listen to podcast and just manifest getting to 15. It got to a point that my wife started throwing stones. Calling me greedy and saying things like all I think about is money. It would happen when we were arguing. I lost that passion, sold them...Still came out on top though. I paid off our primary residence and also purchased 20 acres cash, with the intent to build my retirement home. I am now looking at getting back into the game. Now she realizes she shouldnt have said things like that. I know Id be at 15 by now if I had stayed the course. But you do have to become obsessed with it.
Thanks for commenting and being so candid! This is an incredible story. I am glad that you and your wife are still together. It is incredible that one partner can completely sink the entire relationships financial future. You're absolutely right that you would've likely been actual goal of 15 homes or more. That is definitely no easy task. A serious congratulations in the first place forgetting to five homes. Pat yourself on the back. If I had known you back then, I would've definitely been proud of you. You should be proud of yourself as well. Your wife should have been proud of you back then. I wish you nothing but the best moving forward. It is not too late and if you have any mobile home related questions now or moving forward never hesitate to reach out anytime.
Get a new wife bro she ain’t worth it
Thank you for the motivation John. Breaking it all down into weekly and daily to-do's makes a lot of sense.
Hi Ryan. Thanks for watching. Moving forward if you have any questions never hesitate to reach out anytime.
In my 60s and I am just getting started. I am only at the reserch and learn how phase. This sound interesting and exciting. Thank you for the encouragement, John. I will be watching all of yout videos. It is June. I am making a goal to do my first deal by November.
You can do it! Thanks for watching. If you have any follow up mobile home related questions never hesitate to reach out anytime.
The entire video made sense! Thanks for taking the time to share this info. I look forward to seeing future content
Hi Justin! Really glad it was helpful! Thanks for reaching out and commenting. Really happy to hear that this was helpful. Moving forward any mobile home investing follow-up questions please never hesitate to reach out anytime.
Really love this type of video- gave me some clarity as far as goal setting for this year. Thanks John!
Thanks Megan! Glad it was helpful. Look forward to doing some of it together. Also talking with you a bit more about what's going on on my side. :-)
Hello John. First THANX for all the great, great information. Have done two deals so far and doubled my money. I’m 68 and slowing down physically. Can you tell us how to find mobile home parks that I can find deals in in any state so I can make deals for folks on fixed incomes. Thanks John.
Hello. Thank you so much for reaching out and commenting. I do hope that these videos have been somewhat helpful to you already. First things first, congratulations on the two deals you have done. I have no doubt that these deals did not come without a great deal of hard work and daily effort on your part. Keep up the great work moving forward. I am not sure that I understand your question. You mentioned helping folks on fixed incomes, we you looking to sell these folks the entire mobile home parks or simply the individual mobile homes in the parks? The answer to both of these is a bit different in my experience. When it comes to individual mobile homes it is best to have them come to you. When dealing with mobile home park sellers, it is best to go to them. However this does sound like a good idea free future video here on RUclips. I hope that this helps a little bit. Feel free to write back and let me know any specific questions or clarifications that you have.
Obsession....... well said John!
Thanks Michael! I think any business you are growing needs to be an obsession, at least for a little while.
Happy New Year 🎉 I so grateful for your videos. Thank you from the bottom of my heart
Happy new year! Very happy to help some.
Your layout of plans and goals are motivation
Thanks Michael! Laying out the plans is the easy part. Executing them is where all of the learning and fun comes in. :-)
Great information. Let's get started 🏆
Happy New Year John hope to see you soon.
Happy late new year! Looking forward to hopefully seeing you soon if I'll be in town. Hope you're having a great year so far. Talk soon.
Thanks John! Great video.
Hey John, this video is right on time! I had some goals in mind for this year, but maybe I was thinking too grand for this year at least. I am going to re-evaluate and adjust. :)
Hi Cecelia! Really glad that this video is helpful for you. With a proper plan almost anything is possible, and you have already proven yourself and that you are not afraid of putting effort and overcoming struggles. Keep up the great work in 2023. Talk with you soon.
Simply. Inspiring. Thanks John that was awesome and encouraging which was much needed
Thanks Monty! Thanks for commenting and watching. Please keep in touch moving forward. Happy to hear from you with updates and questions anytime.
This was so helpful!
john does great videos but who opens a box of sugar pops from the bottom? hahahaha
😂😂
This was a great break down!
Thank you so much! Really glad this was helpful to some. Any follow-up mobile home related questions never hesitate to reach out anytime.
Looking forward to this video but whoah 20 seconds in and that has to be one of the wildest hairstyles I’ve ever seen. Had to say it.
Nice! I appreciate the comment. As long as I have hair on top of my head I am pretty happy to hear these comments. :)
My goal to own 10 now seems even more realistic
Thanks for commenting and stopping by. There are so many mobile homes around the country that 10 doesn't seem to be too many at all. But they'd make a good retirement plan for sure. On your journey to own 10 mobile homes you will definitely have some questions that pop up here and there. Never hesitate to comment back or email me directly with any follow-up questions.
Thanks John! That was helpful! We’ve been following you for quite some months now and have wholesaled and rehabbed a couple of mobile homes but more to learn for sure. I do have some title questions. What’s the best way to reach you?
Thanks for commenting and reaching out. If you have title questions I would encourage you to comment them here so that everyone else can learn from your questions. However if you would like to email me more directly you can always do so at support@mobilehomeinvesting.net. Happy to help if possible. All the best.
Eating an Elephant:
You can’t eat the beast in one sitting, but 3 meals EVERY DAY... you can EAT AN ELEPHANT
If you simply do 3 things EVERY DAY toward your goals... by the end of the year you will have accomplished almost 1100 steps toward your goal.
Thank you this video was truly informative!!
Glad it was helpful!
I can't believe you open the cereal box from the bottom. you monster!
I've tried to hide this shameful secret for too long. Glad its out now. :-)
How much is needed to start lending and what terms r used in lending?
Hi Eva. All good questions. I only partner and lend money to folks I'm working with one-on-one in the mobile home formula training program. However at the end of the video when I was talking more about personal goals, I was mentioning about starting a fund for mobile home parks. This would be collecting capital from outside individuals who would like to make a good return on their money back by a fund that invests in mobile home parks. However if you're looking for capital that I would encourage you to continue saving on your own. I am not a believer of getting into debt for going into business. There are good deals out there where you do not need much money at all. However having a couple thousand dollars saved up will be very helpful and make sure you start safely to keep doubling your money again and again until you can do bigger deals and start selling them or for cash flow. Hope this helps and all makes sense.
I've been interested in this for a long time John, I'd like to get involved on any level at all to get started
Hi Thomas. Thanks for reaching out and connecting. Hope the video was somewhat helpful. Moving forward you will definitely have more mobile home related questions. Never hesitate to reach out anytime. Comment here or reach out to me directly John@mobilehomeinvesting.net. All the best.
Are you placing a septic system per space? What is the average cost in the septic
Thanks again for commenting. Well I should have read this comment before commenting on that last comment you made. If you are able to tie into a nearby sewer system that would be the best way to go. Then again you may have to go through some people's land to get to the nearest sewer line if possible. Placing down 960 septic tanks would definitely not be ideal. In the past you could likely do three mobile homes to one septic tank, or to mobile homes to one septic tank. But nowadays it is typically 1 to 1. Depending on your area of the country a septic tank will run anywhere from $5000-$15,000 professionally installed. With septic tanks you are also limited to how many you may place per acre, and therefore this will limit how many mobile homes you are able to place down as well. You will also need a perk test to determine how the soil drains and what type of septic tank you will need to go with. Hope this helps and makes some sense.
Thanks for the info!
That park in the drone footage has a lot of single wide homes. Are single wides the majority in the parks that you own? Are there a lot of double wide's in parks?
Cheers
Thanks for watching and commenting. Good observation. You are absolutely right about all of those singlewides. Yes, doublewides are allowed as well. Many of the lots at the end of each row are perfectly suitable for doublewides. There are definitely nothing wrong with doublewides as well. In some communities you will find that the majority of the homes are only doublewides. You may be able to create value with many of them so be open to most sized mobile homes. Moving forward any follow-up mobile home related questions please never hesitate to reach out anytime.
@@MobileHomeFormula So the majority of the homes are singlewide. Do you find that the tenants in majority of parks prefer the single wide? In a perfect world, you were to start a brand new park, would you make pads for single or double wide homes?
Thanks for getting back to me.
I have a 40 acre parcel. That allows up to 960 spaces. I’m in the long term planning phase
Thanks for watching and commenting! I am imagining that you are likely in an unincorporated area not inside of the city limits. I am also guessing that you do not have a permit to build a 960 space mobile home park currently. Then again, if you are in an unincorporated area then you probably do not currently need a permit like this. I'm curious if the 960 spaces takes into account a road layout that makes sense, along with adequate areas for septic tanks if needed. Then again, if no septic tanks are needed, and a sewer system is able to be used by the county or city than that would get around any EPA issues with regards to how far apart these mobile homes need to be to account for the septic tanks. With that many homes there should absolutely be freshwater to hook up to from the city or county, you would definitely want to avoid a well for all of these homes. An issue you may run into if the city does expand nearby and does eventually incorporate or annex this area into the city, is that the city may say you are not able to replace the current mobile homes with new ones should they burn or become dilapidated. However if you did build something like this from scratch, it would certainly take a great deal of money but you would be left with a very valuable and profitable community. Additionally, you could make this how you wish so that it is much more modern than traditional parks built 50 years ago or so. All in all, I hope that this works out. You definitely have a huge task ahead of you. I wish you nothing but the best moving forward. Feel free to keep in touch along the way. We would love to hear about this more as you develop things.
Question: Just started watching, got referred from a Justin Waller video. I was looking into renting or renting to own some mobile homes and it says in Nevada you need a license to do so, and the application requires relevant experience? Is there a way around this? Thanks so much
Thanks for watching! Glad you are looking at doing things the right way to get started. You are right that in Nevada they ask for more information and requirements than in other states. Please check out a previous video I did when it comes to mobile home licenses. It is important to know all the options, do things the right way, and become licensed. ruclips.net/video/iYG3ig_oQ-A/видео.html I hope the video helps and points you in the right direction. Any follow-up questions never hesitate to reach back out anytime.
Hey John new subscriber here. I would like to buy a mobile home in an existing park and rent it after a year of living in it and upgrading/fixing it myself. How do I get started? What are the numbers I need to crunch? Is it a viable way to snowball in to buying a park myself? Any and all tips are greatly appreciated!
Hi Mike. Thanks for watching and subscribing. Hope the video was a bit helpful. Glad to hear about you wanting to purchase a park eventually yourself. This may be sooner than you think. However you absolutely have to talk to a lot of park managers/owners to get to this point, in my opinion. However that happens is a normal mobile home investor. I'm not sure what area of the country you're in, however within driving distance there are likely hundreds of parks around you. Some of these parks to be poorly operated and some of them wonderfully operated. Some of them will need your help and want your help, and some of them not so much. When you resell a mobile home for all cash make sure you were able to double your money or so. When selling on payments you should do much better. If you don't have much cash to start with that wholesaling may be wise however you definitely need to know how you are helping each seller and the resale prices of homes in your area. However back to your initial question about living in a mobile home, fixing it up, and reselling it. Because you will be living in the mobile home, make sure it is a mobile home park that is desirable and you also like it very much. I'm not sure if you are able to do repairs currently, or you plan to learn as you go, however either way a handyman or inspector through the home if you are not working directly with a partner that has invested in mobile homes before. Three bedrooms are typically more desirable than two bedrooms, so consider a three bedroom if possible. This a be easier to resell as well. Make sure the park is normal with regards to the application process, rules, and fees. Hope this helps and gives you some things to think about. Feel free to keep in touch. All the best.
@@MobileHomeFormula lot to consider moving forward thank you for your insight.
I wonder why much fund is a good fund to start with mobile homes investing? If I want to buy one and rent it out with other people.
Thanks for commenting! I believe you are asking how much money should you have to begin investing in mobile homes. While you can begin investing with little to no money, I would encourage you to have at least a few thousand dollars for mobile home investing purposes. Even this limited amount of money will get your foot in the door to more properties than you may think. This is a very short answer however I hope this does help and point you in the right direction. On this channel I have made another video with regards to "cash poor" type of investing. Any follow-up comments never hesitate to reach out anytime. All the best.
NEED HELP! what do you do if your trying to purchase a mobile home on a lot that's rented and they want a 12 month lease. What if I'm flipping the property in 90 days??
Very good to hear from you. As mobile home investors the mobile home park managers understand that we will be reselling the homes very quickly and therefore someone else will very soon be getting approved for the park and will be signing a new lease to step in our place. Most park managers are completely fine with this however they do want someone to be on the lease at any one given point. So as soon as you find an approved buyer that is park approved then that person may sign a lease and step in your place. Only if the park is looking for reasons to not work with you will they say that this is not possible. They will tell you that there is absolutely no way for you to back out of the lease once you sign it. This is code for the fact that they do not want to work with you in this particular park. Keep going to other communities nearby or aimed to wholesale this mobile home instead of purchasing it yourself, or purchase it to remove it from the park. However that last suggestion is not highly advised. My advice is to go back to the manager to introduce yourself and make sure they are okay with you getting another park approved buyer to take your place in 90 days or less once the home is fixed some.
@@MobileHomeFormula thank you!
Will your fund be only open to accredited investors ?
Thanks for watching Harrison! Having the finalizing talk with my attorney soon. Trying to work around only having been credited investors involved. Would rather work with nonaccredited investors as well if possible. I will keep you posted. More info to come.
Here's a question How does fundrise do it? You can invest as little as $10, and I don't believe you have to be an accredited investor
Hello John, thanks for uploading the video, I was wondering if you know how to get a permits if in California. I want to buy land and convert to affordable homes. Thanks
Hey Gary. Thanks for reaching out. There are definitely investors in California purchasing land that is owned for mobile homes but vacant at the moment, then adding a new or slightly used mobile home to the property. After you do this both properties are worth much more and can be resold to a bank financed buyer or you may sell the home be a cash or payments and keep the land for long-term lot rent income. The permit process in California can definitely be a slow one, however moving homes onto land that you own is possible and is already being done. Keep in mind that if the land is not sown for mobile homes that will be very difficult to change this zoning and allow a mobile home to legally go there. When you have land in mind contact the local zoning department and property appraisers office to ask more questions about placing a manufactured home on this property, how big the home may be, what age it may be, and any setbacks the property has. I hope this helps and points you in the right direction. It is a bit of a quick answer however I hope it makes sense. Any follow-up questions never hesitate to reach out anytime.
Okay I’m hooked Whats the mentorship cost
Thanks for commenting! lol Glad that you are hooked! Being hooked and obsessed is definitely the first step to having a successful business, at least in my opinion. The cost of the mentorship is more than just putting down some capital. You can learn more about us potentially working together and partnering by clicking the "work with John" tab on my main noble home investing website. There is also a free course there to go through to see if mobile home investing is right for you. Hope this helps and points you in the right direction.
JOHN Fredos! 👊
👊
Do you need to be licensed to buy mobile homes?
Thanks for stopping by and commenting. In some states you will eventually be asked to obtain a mobile home broker's license or mobile home dealers license if you continue to make money with individual mobile homes month after month. Learn more depending on which state you're in and how most of us are moving forward safely investing in mobile homes and ethically helping both buyers and sellers. Hope this helps some. ruclips.net/video/iYG3ig_oQ-A/видео.htmlsi=OZDo-imA_tsUsFZn If you have any follow-up questions never hesitate to reach back out anytime.
Wow!
How can i start ?
I dond have much funds
Hi Eva. It is good to have a little bit of money when you start investing. Not much, however you are starting a business. That much money you will be selling your first few mobile homes for all cash. Or potentially wholesaling them for all cash. There is a good deal to know and you will have a lot of questions along the way. Check out this channel for more videos the talk about getting started and how much cash you may want to consider having. Keep in touch moving forward.
Hi I'm really interested in doing this i mean I starting from scratch literally no money in I kno how it is out here like being homeless so I really want to help people with affordable rentals any information would help
Thank you for reaching out and connecting. Really happy to hear about your ambition and dedication to improving the lives of others and yourself. Moving forward you will definitely have mobile home related questions. Hesitate to write back here anytime or email me directly. Always happy to help if possible. All the best!
Hi I'm new and just bought my first mobile home to flip
YEEAAAH!!!!! That is great to hear, Philip! I hope the deal is even more profitable than you expect. Moving forward, any follow-up mobile home related questions please never hesitate to reach out anytime.
I need to buy land then make it a home park?
Thank you for commenting. That will be a bit easier said than done. It will not be difficult to purchase some land where you will be able to bring on multiple mobile homes. Usually land outside of city limits allows for mobile homes where you will have to add private utilities like a well and septic tanks for each mobile home you bring in. Or perhaps you will be able to share the well and septic tanks among a handful of mobile homes. This will be decided by the local laws and also the EPA rules. However what you have here is not a true mobile home park, it is a piece of land with a bunch of mobile homes on it. The difference between this and a permitted mobile home park is that should the city expand to annex your land, the city may require that the mobile homes be removed or when they are removed you are not able to put/replace the old mobile home with a newer one. Before you build a park having a park permit that is signed off by the local municipality is important so that it may remain a mobile home park for ever into the future. This means that the local government cannot mess with you and if you are permitted to have a 50 space mobile home park then it should remain a 50 space mobile home park. I hope this helps and make some sense. Moving forward any follow up questions never hesitate to reach out any time.
I bought 1.4 acres of industrial land in Bay City MI. Can I turn it into a mobile home park with industrial land?
Hey Robert. Thanks for reaching out and connecting. The short answer is probably not. Creating a new permitted park would require obtaining a permit and likely having to convince city officials to change the zoning or give you a permit and agreed to have a bunch of new mobile homes for ever in this location. However if the land is outside of the city limits then perhaps there is no governing body that permits this area. This means that you could legally add on multiple mobile homes while hooking them up to some type of water source as well as sewer or septic system. The mobile homes would have addresses and power and would be ready to sell on payments or rent them out. However this is not an official mobile home park. It is a piece of land with a bunch of mobile homes on the land. This will be legal and perfectly acceptable until something changes with the law or the local city annexes this property and demands that you change what you have going on in some way. This is definitely a short answer however I hope it makes sense. If you have any follow-up questions please never hesitate to reach out anytime. You can also call your local tax department and local property appraisers in the county where the home is to ask more questions. Hope this helps. All the best.
@MobileHomeFormula Thank you for your advice. I deciding on making it a contractor storage yard, or I was thinking of mobile homes. It's 1.4 acres zoned industrial and I'm thinking of the best possible way to turn it into low maintenance earnings due to me living in another state.
Not really. The city or county is not going to convert industrial zoned land to residential. Especially for a MHP.
@mattalford3932 What do you think about contractor storage yard?
The muskrat hat... dam...😂😂😂😂
I don't think I'm wearing my muskrat hat in this video, but there is another video where I'm inspecting mobile homes in freezing weather. In that when I am wearing a pretty sweet looking similar type of hat. I still wear it to this day. I suggest you get yourself one if you're in a cold climate. Thanks for watching!
How do you vet scammers in a partnership?
Thanks for reaching out and commenting. When I am partnering with individual mobile home investors that are buying and reselling or wholesaling individual mobile homes then we have to be working together 1 on 1. In this way I know what they are doing regularly and I can vet out who is not trustworthy, or an excuse maker, or liar, and of course only recommend that we do only the best deals. If you were talking about a mobile home park partner, then typically we are both bringing some money to the table and we both have skin in the game. However also doing a background check and credit check on your partner is a very good idea as well. They should have nothing to hide and most background check softwares do soft credit checks that do not impact a person's credit score. If the person has something to hide that may be a problem. Hope this helps and makes sense. If I did not fully answer the question then please feel free to write back any time.
I'm interested in learning and start investing
Thanks for commenting! Any follow-up mobile home questions you have never hesitate to reach out anytime. Check out my website for more mobile home investing information.
Can you help me get into this business please?
Thank you for reaching out and connecting. Thank you for asking. You are certainly already starting the beginning process by educating yourself. Moving forward any false mobile home related questions that you have never hesitate to reach out anytime. You may comment back here or email me directly at support@mobilehomeinvesting.net.
If you are trying to get into the business, John is your man.... he is amazing
How's the best way to level a sinking mobile home?
Hi Dave. Mobile homes sink for various reasons. Depending on the source of why the home is sinking, that may want to be addressed first before you re-level the home. However to re-level the home you can either hire some handymen to use bottled jacks to jack up the home and add blocks or wooden shims to make the home level. Or a mobile home mover may simply use their toter truck to lift up the home from the tongue and re-level it with blocks and shims. Either way the should cost thousand dollars or less in most cases for a single wide. The least that is what I look to pay. I hope this helps and makes sense. Moving forward any follow-up questions never hesitate to reach out anytime.
@@MobileHomeFormula thank you have a happy New Year good luck in 2023 👍👍
Liza wants her wig back!
She is a classic! Hilarious in arrested development. I'll take this as a compliment.
you got the same hairdo as the black guy!
omg I had that hairdo... /facepalm
no, tony hawk, not flock of seagulls
I'll take the compliment! Hope the video was helpful. Any mobile home related questions you have moving forward never hesitate to reach out anytime.
dude got a racoon on his head 😂
Someone's jealous ;)
More fluff.... less info
Thanks for commenting! Your comment made me laugh. I will work on that for the next one.
Yeaaa but did you start broke??. Not broke but like fr broke?..
When I initially started investing in individual mobile homes I was down to my last few dollars. I spent my life savings of $3000 advertising and marketing for single family houses. However the first deal I ever purchased was a mobile home inside of a rental community. I had to negotiate cellular financing on the deal because I did not have the money for the seller. Negotiated a purchase price of around $3000, negotiated down from $8000 the seller was originally asking. I gave the seller $300 at closing and another nine payments of $300. I took over lot rent, which she was behind a couple months anyway and being evicted. She was happy and I was happy. I was quickly able to turn around and sell that property on payments with a good down payment and monthly payments for many many years. That is what got me into this business. If you have little to no money you can begin mobile home investing but you absolutely need to know what you are doing and it is important to not make any mistakes as you really cannot afford them. Hope this helps and makes sense.
If u sell meth from the mobile homes u make more also.
I hear that can be profitable. However definitely not my style. Additionally, not in my park. Thanks for commenting.