Podcast Episode Details
Back to Podcast Episodes050 He is Helping Mobile Home Sellers and Making Money in DC Area
Episode 50
In today’s podcast we are talking with active Mobile Home Formula investor Rod from the Washington D.C. and Virgina area. Rod’s mobile home investing success did not come by accident. Rod has followed a strategic plan and has been persistent after his goals to learn the mobile home investing industry and build immense personal wealth.
Rod is now working in a handful of mobile home communities that mostly love and respect what he is doing. He is able to 1.) help the mobile home community infill empty mobile home lots with used mobile homes 2.) Rod is also repairing park owned homes the park does not wish to rehab themselves, and 3.) he is also buying used discounted mobile homes directly from the residents of the community.
All of this has allowed Rod to invest in mobile homes full-time to expand his area, build his mobile home reputation, increases knowledge, and stack money away in his bank account.
Like almost everyone, when Rod got started investing in mobile homes he had countless questions. Rod and John talked almost daily while building his mobile home investing business. Rod has overcome struggle after struggle in order to achieve his current level of success.
A special thank you to Rod for hopping on today’s video to help other mobile home investors he will likely never meet.
Mobile Homes Flipping VS. Mobile Home Cash Flow
Already in Rod’s short mobile home investing career he has been able to sell mobile homes for BIG cash paydays, as well as sell mobile homes for higher-than-retail-prices by selling with monthly payments.
- ⭐ From 2015 to present-day there has never been a better time to sell mobile homes to buyers for all cash.
- ⭐ Make certain to know your realistic exit strategy and conservative retail selling price before you ever purchase any investment mobile homes.
- ⭐ Around the country many all cash buyers will not need to go to a bank for financing unless the mobile home sales price is over $50,000. This is the point where many buyers will need to obtain bank financing to purchase your used mobile home.
- ⭐ When selling for monthly payments make sure to recoup all your invested capital within 12 months or less from the down payment and monthly payments you receive from your payment buyer.
- ⭐ Most mobile home parks will allow an investor to resell a mobile home for all cash or monthly payments to an end-buyer.
- ⭐ Most mobile home investors typically resell more mobile homes for all cash in the beginning of their career to increase their bank account and to continue to have more capital to invest with.
- ⭐ Mobile homes may be sold for cash or monthly payments in all 50 states.
Persistence Pays Off
In the beginning of Rod’s podcast, he talks about things going slow for him for his first 90 days while trying to learn and invest in mobile homes. During this time Rod did zero bad deals, zero skinny deals, and zero deals at all. However during this down time, he was learning a tremendous amount of knowledge by going through parks, networking with managers, understanding prices locally, asking questions, and really learning the ins-and-outs his target investing area.
Rod never gave up on his goal of becoming a successful mobile home investor. Rod kept putting in the work needed for mobile home sellers to find him and for him to find local motivated mobile home sellers in need of help.
Rod has now closed over 20 deals as of publishing this podcast video and article. Lesson: hard work invested wisely almost always
Published on 1 year, 4 months ago