Mobile Home Formula student | Chuck adds mobile homes to PRIVATE land for CASH profit 2018

[@LifeIsAWholeVibe]

How do you determine how much you should sell the mobile home for once you fix it up?

[@MobileHomeFormula]

Thank you for reaching out and connecting! Nice screen name as well. In this video Chuck mostly discusses adding mobile homes to private land. In situations like this we use real-world comps of similar newer mobile homes on similar size lots within a mile or two of the subject property. In these situations, where we are adding new homes to land outside of metro markets, and reselling to FHA type buyers, you want to make sure you know what other similar homes have already sold for. You do not want to be the first one selling a home/land package for the price you are aiming for. Definitely based this on comparable sales recently nearby. Very similar to single-family homes in this way. I hope this helps and points you in the right direction. Feel free to keep in touch with any follow-up questions.

[@Jollofpappi]

Man so much good information! Great job John. Keep up the good work

[@desertedenblooms]

SASLY, the sound on these interviews is horrible; the echo and tunnel! is difficult to listen too.

[@MobileHomeFormula]

Thanks for watching and listening! Hope that there was some value that you are able to get in the video from what you heard.

[@bigkei7629]

How can I purchase your course

[@MobileHomeFormula]

Thanks for reaching out and connecting. If you had to my main mobile home investing website you'll see a tab that says "work with John". From there you can find out more information on the program. This program is not right for everyone however definitely has helped a number of folks. Either way feel free to keep in touch moving forward. If you have any mobile home related questions never hesitate to comment back whether we are working together or not. Feel free to keep in touch. All the best. Talk soon, John

[@godblessamericahomeofthefr4642]

How do you know how much interest charge? Thanks for any help

[@MyUltimateStuff]

Great interview. I can tell this man does this full time. FULL-TIME. At least 40 hrs! I'd love to know his "typical week", e.g. number of hours spent prospecting for new deals, checking on his current projects, getting the sales...

[@alvaradacosta5830]

Question::: So, when the owner just GIVES it to the buyer for FREE... should we first check to see if the taxes are paid and make sure that there are not any liens on it?

[@MobileHomeFormula]

Hi Alvara DaCosta, Thank you for reaching out and connecting. With regards to your question, if the owner gives their mobile home to us (the investor) for free then unless you're already sure that the taxes are current and there are no liens then yes, I would encourage you to double check this with the state for sure. You also may want to double check with the park that the home can remain in the community, does not need any repairs to the outside, is not behind on lot rent, and that the manager likes you. I hope this all helps and makes sense. Moving forward if you have any follow-up questions or concerns never hesitate to reach out any time. Talk soon, John

[@maryhall1181]

What about $5000 for a 1969 1bd/1bth, in a park?

[@raymondyanez13]

That's too much

[@Crewrenovations]

Hey John Fedro, is it legal in florida for me to buy a mobile home, get a permit and move it to a park that allows subleasing? Because I have someone selling me a 2/2 great shape mobile home in south florida but its in a 55+ community.

[@ValeriJames]

You can still flip mobile homes in 55+ communities so don't rule those places out. We are making a killing flipping in the "Adult Parks" (55+ parks) and have been for over 25 years. (www.TrailerTrashToCash.com website coming soon)

[@WinstonKnows]

Valeri James Soon as in over a year later?

[@realdeal083]

Thanks for another video, was starting to have mobile home content withdrawals. Keep the podcast rolling as well.

[@purvis7164]

much appreciated John! I noticed FHA requires a permanent foundation requirement (such as concrete, masonry or treated wood) assume treated wood would be the most cost-effective, but does a wood foundation work under a mobile home?

[@MobileHomeFormula]

Hi Purvis BigPerm, Thank you for reaching out. Good to hear from you. I have over a decade of experience however I certainly do not know everything about everything. The reason I mention this is because while I have never seen or heard of a wood foundation under a mobile home, my first thought is that FHA would not want to see this. I imagine even treated wood would not last long under a mobile home. With that said I could absolutely be wrong and would definitely encourage you to talk with the specific lender you are using at the time with regards to this question. Additionally, you could absolutely call a lender now and asked them the specific question before you need them. You may want to have a picture available in case some people are not familiar what you are speaking of. In fact, if you have any pictures of this wood foundation under a mobile home I would absolutely be interested in seeing pictures myself. Please email them over if possible. While I do not believe I was a big help for this question I do hope it points you in the right direction. All the best and please keep in touch. Talk soon, John

[@marctrevino4175]

@purvis I think you are referring to Modular homes not a mobile home. Mobile homes are built at a different location and brought to site. Modular homes are built in separate pieces brought to site and assembled on top of a permanet foundation.

[@ValeriJames]

My experience (over 25 years) is that the treated plywood is the cheapest way to go when you are doing a "ground-set" mobile home. Do check with the lender to make sure that your area will accept that if you are doing a particular type of loan if the client is financing their home. You can also call a local mobile home dealership and ask what they recommend or to get some input.

[@Jollofpappi]

Valeri, I sent out an invitation to connect with you on LinkedIn. I hope you don’t mind me asking some questions on mobile home investing. I’m a 25 yr old man, just separated from the military who’s looking to invest in mobile homes. I’ll appreciate any tips or guidance you could bless me with.

[@mtcrafted4002]

Fantastic video! I actually have a piece of swamp that I just got a 70k offer on that will give me the capital I need to get into mobile home investing. My partner and I are wondering, is there no money in buying a plot of land and having a new mobile home installed on it to create an attractive FHA sale? Or is the money REALLY in these cheaper park flips?

[@matthewmoore7817]

MT Crafted the problem is bank requirements some times drive the cost of home. (Age require to loan)

[@lesagayle2782]

What I’ve concluded from this video: He pay way too much for the property, spend a lot of $$ into fixing it up....20k profit over time. I don’t think his strategy is so great. There’s better priced properties for similar (or a little less profit) and still room to scale. Pretty informative for what to do and what not to do.

[@joycecooper498]

The man did not say how much he pays monthly for lot rent!! He only said he sold it for $31,000

[@Blicky_Minaj]

Joyce Cooper you don’t pay lot rent, the buyer does

[@MyUltimateStuff]

Your note is for the MH itself,n although personally I'd buy the insurance on it n add it into the note - they can purchase renters till they pay it off.... I don't trust people saying they have insurance if I'm holding the note...

[@moringausa]

Amazing!! Thank you!!

[@Thirteen7447]

Great interview John!

[@patwinter2659]

What about insurance?

[@ValeriJames]

You can a local insurance company and ask them if they can write a policy on mobile home insurance. If you can't find anyone, try calling Adam's Agency in Mesa, Arizona. I know for sure they do it as I have been referring clients to them for way over 20 years now. (TrailerTrashToCash.com is my new name, website coming soon).

[@nevernormal5811]

John, I'm a graphic designer and photographer by trade, could I perhaps trade my services to you for some light mentoring via phone calls? Or anyone?

[@markpitts360]

My favorite video conferencing video!