I can't wait to go through this program and be one of the investors John makes a video with! I'm working overtime every week to set aside my dues & capital. Won't be long now!

Don’t “investors” want the cheapest, put minimal work into them, and then make as big a profit that they can? Doesn’t this deny lower income, disabled, and or fixed income senior citizens that often live in older homes, at a disadvantage, when prices keep going up and up? Not only are mobile homes the last affordable housing that is disappearing rapidly, but the parks are also being gobbled up by investors and leaving people who have lived there for multiple decades homeless when the lot fees double, and they can’t move their homes. Many might still be paying mortgages too.

TY!

@MobileHomeFormula

2 жыл бұрын

Happy to help some. Keep in touch moving forward if you have any follow-up questions please.

Great info

@MobileHomeFormula

3 жыл бұрын

Thank you so much! Keep in touch moving forward please.

We’re looking to purchase parks. The money is in the dirt. The homes can be additional cashflow but the liabilities are passed on to us owners.

@MobileHomeFormula

4 жыл бұрын

Thanks for commenting. Agreed and agreed!

This is great John. I’ve watched many of your videos over the last few months and have recently taken your free course. This format was great to see many of the investment considerations come together in context. I do have a question. Since mobile homes have titles administered by the DMV just like vehicles, can they become declared a “total loss” and have a branded title? With the fire and insurance claim, I’d be concerned that could impact the post repaired value.

@MobileHomeFormula

Жыл бұрын

Hi David! Thanks for reaching out and connecting. Hope all the videos you've watched so far have been somewhat helpful to you already. Yes, depending on the situation, mobile home, insurance payout, or something else a mobile home may definitely be branded as revote or salvaged or something else, depending on the state. This mobile home will then have to go through a lengthy, or semi-lengthy process to get that status changed back to her normal title. Sometimes in these situations the home is not to be lived in or habitable until it can be proven otherwise. However this definitely depends on the state and specific situation. With that said there are so many of these different kind of situations that can cost a good deal of money to correct if you are caught in one of these scenarios. This is definitely a bit of a vague answer however I hope it does help and make sense. Moving forward if you have any follow-up or specific questions never hesitate to reach out anytime. All the best.

Very good advice. I would honestly offer the owner scrap metal price. Max $300, I mean I’m running a business here not a charity. If it has walls and a roof I’m buying, but it better be under 20k.

I love your videos I' just watched 20 videos already. Tbh your voice and they way you explain stuff makes it easy to understand. For this mobile home the inside needs a good 7k in renovations. Would you have by a manufactured or a modular home ?

@MobileHomeFormula

3 жыл бұрын

Thank you for reaching out and connecting. My apologies for the delay in this comment reply. Thank you so much for the kind words. I'm not sure that I understand your question. Mobile homes, manufactured homes, or modular homes… I will purchase them all if the numbers make sense and the seller is likely semi-motivated. However to be honest, I do not do much business with modular homes. I hope that this helps some. Moving forward if you have any mobile home related questions never hesitate to reach out anytime. Keep in touch.

When you evaluate a mobile home in a park do you take in consideration the lot itself. The landscaping, shrubbery & existing structures on site? I live in a 70’s single wide that has a decent fenced in yard with nice plants, trees & scrubs. There is also a large shed that I am considering adding electricity to. I plan on building a large deck that will surround 2 sides of the trailer. As you can tell I am not selling, but when I do, will the lot be considered with the price because no one will want to move this so it will remain in a fairly decent mobile home park. By the way-I really like your videos! Thank you so much-learning a lot with your direct well paced style. ❤

@MobileHomeFormula

Жыл бұрын

Hi Cecilia. Thank you for reaching out and connecting. It absolutely sounds like you will be putting in a lot of time, love, and money to get the outside of your home looking beautiful. I am personally a big fan of large decks around the home. I think most people are. The landscaping sounds beautiful as well. Clearly you have a high pride of ownership and love where you are at. I hope the manager of the community appreciates all that you will be doing to the home and property. The exterior landscaping you will be doing and adding to the decks, will definitely add desirability and value to the mobile home. However it may not add as much value as you think. It will certainly make it more desirable. If there are multiple homes for sale at the same price, yours will sell quicker because of the deck and landscaping if the others do not look as nice. With that being said, some people will pay extra to have your decks and landscaping already done. However always make sure to give yourself ample time to sell. If you need to sell in three months, give yourself four months or five months to make sure you understand the market and how much people are willing to pay and not pay. Also make sure you are advertising so most people can see your property for sale. Once you have people going through the home you will then hear what folks are and are not willing to pay. Make sure to get people's opinion of the home and price whenever they walk through the property. With all that said, do make these improvements however do not go overboard in my opinion in the materials or extra costs. I hope this helps and makes sense. Moving forward any follow-up questions please never hesitate to reach out any time. Happy to help if possible. Keep in touch.

Thanks, lots of valuable information in this video. The resale value is very low, so there is only a small profit potential after a lot of repairs, which might well cost more than expected. I would like to find out what newer homes sell for in that park. Would it be practical to scrap the old mobile and replace it with a recent, say 9 year old, mobile home?

John, I have to say, you are so awesome while walking through absolute filth. Especially with the homeowner being right there. I would do an about face. Bravo to you.

@MobileHomeFormula

2 жыл бұрын

Wow, thank you! Over the past two decades I have been able to talk to homeless folks as well as multimillionaires. We are definitely all the same in many ways and even someone that lives in these types of low income conditions still have things they are proud of and that excite them. Keep in touch moving forward and thank you for the kind words.

@Taking_Back_Thyme

2 жыл бұрын

@@MobileHomeFormula you are definitely a special breed.

@Taking_Back_Thyme

2 жыл бұрын

@@MobileHomeFormula we are all human. Some more humane than others.

Curious to know the outcome👀🤔 I suspect you took a pass on this one, but not sure. Thanks for the awesome videos, God Bless you🙏

@MobileHomeFormula

5 жыл бұрын

Hi Victor D. Romero, Good to hear from you. You are absolutely correct. This home can certainly be profitable however in my opinion it is not my path of least resistance. There are other opportunities I am looking at where I can deploy money and my handymen versus this mobile home. With that said I do want to break into this park sooner rather than later so I will likely be purchasing something in here soon, however I have since passed on this particular mobile home. Thanks for following up and asking us. I should have included in the video. Moving forward if you have any follow-up questions or concerns never hesitate to reach out any time. Keep in touch. Talk soon, John

What's heat tape? Is that a northern thing, for keeping pipes thawed? Yeah, way too much to do, plus new siding.. Gut job. I'd pass....

@wadebarnett2542

4 жыл бұрын

The heat tape may not keep the rest of the pipes from freezing. That can happen. Also, there's no warning when they're about to fail. They're like old light bulbs. They're on one moment, but not the next. If one failed in the freezing cold of winter, it would have to be replaced immediately. That's one reason why mobile homes may not be good ideas in the north.

@occipitalneuralgia2339

3 жыл бұрын

@@wadebarnett2542 LOL, mobile homes and mobile home parks have proliferated in the north (including Canada, and Alaska, Maine, etc since the 1950s. Heat tapes are extremely common.

Info presents very good,I bought a land+home ,1976 Fleetwood,see pic,still reno goin on,in a subdivision,$20k plus new power pole..would you have??I kinda see the value since there's no lot rent,rob.

@MyUltimateStuff

4 жыл бұрын

You paid $20k for everything? Incl the land? '76 is our dang old. New plumbing, elec needed.... Hmmm

@occipitalneuralgia2339

3 жыл бұрын

@@MyUltimateStuff reread the post...they bought the land also. Sounds good.

do you have any books on this? if so send me somethng

@MobileHomeFormula

Жыл бұрын

Hi Eric! Thanks for commenting and reaching out. No books on the matter, however feel free to check out the following website with 100+ free articles discussing mobile home investing in detail. www.mobilehomeinvesting.net/