The gentleman from Kentucky knows what he is talking about. I am very impressed with his knowledge about mobile homes. Thanks John and John for all the quality content!
Hi Alexander. Thank you so much for taking the time to comment. Sorry for the delay in this reply. Moving forward if you have any mobile home related questions never hesitate to reach out. All the best.
Great work with all of the properties you already own! 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. Keep up the great work!
Thanks for the excellent content. Mobile home investing is a part of the market that may be largely overlooked and is definitely a worthy investment option.
Hi SteveInvests! Thanks for watching and commenting. It certainly is a weird and interesting market. Moving forward if you have any mobile home questions never hesitate to reach out. All the best.
Hi cameron. Thanks for commenting. Really glad to hear that this video was helpful. I know this is a very late reply however wanted to follow up and thank you for taking the time to watch this video. If you have any mobile home related questions never hesitate to reach out anytime. All the best.
Very happy to help. Thank you so much for watching. Keep in touch and if you have any mobile home related questions never hesitate to reach out any time.
Very very glad to hear this! How is everything then is getting started? Obviously things are pretty different with regards to the coronavirus. Moving forward if you have any mobile home related questions never hesitate to reach out any time. I'm trying to make timely videos with regards to differences in the market. However there are absolutely still buyers and sellers across the country. Moving forward feel free to keep in touch. All the best. Stay safe. Talk soon, John
I'm so grateful I've found this channel. I'm finally serious about taking nthe steps to move forward with my desire to investment & two vids in this channel is a tremendous resource. Thanks guys. ❤️
Thanks for commenting and reaching out! Glad you found us too. Great screen name as well. Moving forward if you have any mobile home related questions please never hesitate to reach back out anytime. Comment here or email me directly at support@mobilehomeinvesting.net. All the best. Keep in touch. Talk soon, John
Hi Elizabeth. Thank you for reaching out and connecting. I believe John is doing well. We have been in touch since 2019 however less lately. I need to reach out to him and say hello. Thanks again for commenting. John absolutely knows his stuff and I'm glad to be working with them and glad he was able to come on this video. As always, if you have any mobile home related questions now or moving forward never hesitate to reach out anytime.
Right! Thank you very much for taking the time to watch the video and comment. Moving forward if you have any follow-up mobile home issues or questions please never hesitate to reach out anytime. All the best.
Hey John I'm about to get a single wide under contract for 7k in a 55+ park where lot rents total $683/mo...would you wholesale this deal or turn it into a cash flow situation? Seller is very motivated...Thanks love the channel...
I say no. I never do a deal over 8k. Doesn't give you much room for repairs. What's the market in the area? If the market is $1000 I might depending on repairs.
Hi Carlos. Thanks for reaching out and connecting. Additionally, thanks for watching this video. I do hope that it was somewhat helpful to you already. There is a lot of free information on my main free blog investing website, www.mobilehomeinvesting.net. On this website there is a tab named "work with John" where you can find the investment of this program, what is included, and what is expected from folks involved. This definitely is a very accountable and action-based program, and it is not right for everyone. Please check out that page to get more information. Keep in touch moving forward either way. Happy to help answer some mobile home related questions whether you are a member of this mentoring/training or not. Keep in touch. All the best.
Evening Marie. Thank you for reaching out and connecting. Yes, you can always comment here anytime with mobile home questions and I will be happy to help if possible. The short answer to your question is, probably. The mobile home park can play hardball with you and even choose to not renew your lease in most cases asking you to leave if they are not "happy" with you being there. Putting on vinyl to your mobile home will probably cost you $4000 or less. With that said there are definitely some handymen or companies that will be happy to charge you $10,000 or more for the same service. Keep in mind the material can usually be purchased for $2500 or so for a single wide. There are some companies that will allow you to make payments or perhaps the park and pay for this and you are able to pay them back. I completely agree with you that the home probably just needs painting and it would look a few years newer. I hope this helps him and answers the question. Any follow-up questions please never hesitate to write back any time.
@@MobileHomeFormula Thank you so much for your answer. It's nice to know there is someone in your ball court. But my main question is... does this park owner have the RIGHT to demand siding on the single wide, 1976 trailer. If they would just answer their phones and allow someone in the office for the two days that they supposedly have someone, we could talk to them. You see my daughter bought a house in January and is out of the trailer. But, as you mentioned, they play hardball and my daughter has had to pay for Feb, March, April, May, June and now July rent on the empty trailer. She had buyers that were never approved and it took months and weeks to get any paperwork done on their end. They are being real nasty about it. NOW (not months ago) they sent my daughter a letter demanding certain changes on the trailer. Such as vinyl siding. They don't have that kind of money to put toward the trailer. They even sold it "as is" and the new buyers were going to improve the place and yet were not approved by the park owners. Does that sound normal? She needs help. She hasn't slept worrying about it. Thanks John. What do you think?
Hi Tony. Thanks for commenting and following along. There definitely is a lot of high-tech software out there these days. Software for analyzing properties. Software for managing prospects. Software for following up with prospects. Software for organizing. Software for mailings, skip tracing, phone calls. Software for screening tenants and also managing them and collecting payments. Other software as well. The reason I mention this is because I do not want to give you any wrong or incorrect information. If you let me know what type of software you're looking for with regards to recommendations I would be happy to help if possible.
Depends on where you are or how much capital you need. I had capital in the beginning but you can get personal loans from banks, short term lenders etc. If you plan on financing your purchase have a set plan of attack and be sure of your numbers.
Thanks for commenting. The park manager will definitely have the storage agreement paperwork for you. However, some parks will not have this paperwork and will just have you sign a normal lease agreement. I hope that this helps. Moving forward if you have any follow-up questions never hesitate to reach out anytime.
Thanks Randall! Sorry for the late reply but very happy to hear that this video was helpful. Keep in touch moving forward in if you have any follow-up questions never hesitate to reach out. All the best.
Hi marketing guy! Like most answers in real estate, the answer to this question is definitely, it depends. It depends on who is buying into the senior community and it depends on the senior community and the manager, as well as potential other things as well. However you should absolutely pursue mobile homes in senior communities and if the numbers make sense then taking action can definitely make sense. However before you crunch too many numbers you can certainly speak with a mobile home park manager to introduce yourself and determine if they will allow you to be there. There are other strategies depending on what exactly the park manager says in response however I hope that this helps and makes sense. Moving forward if/when you have any follow-up questions never hesitate to reach out. All the best.
Hi Marketing Guy! Thanks for reaching out and commenting. Yes, there are investors in Southern California. You certainly are any unique area for this type of investing. Obviously there are different areas of Southern California, just like there are different niches within mobile home investing. If you have any California specific questions or thoughts never hesitate to reach out. Feel free to keep in touch. All the best.
John I wonder why you don't like renting your mobile homes. I personally think that the fact that renting gives you passive income cash flow that never ends outweighs the negatives that come with being a landlord. Get EXCELLENT at marketing your property so you have a huge list of potential tenants and then cherry pick exactly who you want in there. If you focus on being good there the occasional problems that arise such as repairs needed won't matter as you will have an endless cash flow AND you can always choose to sell WHEN you decide you've had enough if you choose to. Also you dodge the safe act/dodd Frank which 99% will never cause you any problems but still I'd rather be 100% then possibly run into legal trouble down the road and lose a lot of money. What's your view on this and others views here? I would like for you to make a video on this or we at least have a dedicated conversation about it.
From what I can gather, there are a myriad of reasons...not the least of which is that many MHP's won't allow it. And then there's the matter of pleasing the landlord, your business partner...even if it's accepted. Does your business partner want a Renter or an Owner? Who takes more Pride in their community? Who takes better care of "their" place and surroundings? A TB is essentially a 5 year renter, who pays a move-in fee, has some skin in the game and does all their own maintenance. Cherry pick a Renter that will do that.
@@RoyalHippieGangstercom who said we had to have business partners? Yes tenant buyer is a great deal but you there's a market out there for section 8 veterans that are 55+ and just want a place to live. You can only rent for so high so you mind as well invest in these properties that are lower cost so you can get a greater return. Section 8 and special housing programs believe it or not produces great tenants if you get veterans especially handyman type. 1 bed 1 bath for a single guy who is a veteran on section 8. They can fix things themselves and I do the right thing and take it off the rent for them. They don't have a spouse or gf living with them causing potential arguments down the road which they can end up breaking up....and if they were relying on each other for income for rent money then they cant end up paying. That's how most problems occur in renters. It's not the be all end all but I think it's a tool in the investors toolbox that should be used more often.
@@macknumber9 ...interesting. I'm learning something every day. And I agree, the men you seek as renters, in the condition you seek them in, would be a good renter...AND...you'd be providing affordable housing to those who deserve it. I love it. As per usual, there's a path for every walker. - My gut still tells me that all else equal, I would personally rather be trying to find a 55+ single male Vet to plug into at TB situation. While you say they 'can fix things themselves, most renters do not. They typically do the exact opposite. But yes, I'd say any human who's handy 'can fix thing in their rental and it's a good idea you have to compensate them with lowered rent for the job they did. Question: Are you going to supervise their work? Have they provided samples? Do they have references? Do you care how well, or not, the job gets done? Essentially, now you have to vet your Vet for both roles...renter and contractor...or role the dice. Are all 55+ male Vets good people? Or do some come home with a crazy score and a drug/alcohol problem? Bottom line: I need an education on Section 8. I'm not typically a fan of our govt. nor being in contract with them. Good luck!
The gentleman from Kentucky knows what he is talking about. I am very impressed with his knowledge about mobile homes.
Thanks John and John for all the quality content!
Hi Alexander. Thank you so much for taking the time to comment. Sorry for the delay in this reply. Moving forward if you have any mobile home related questions never hesitate to reach out. All the best.
Man I have only 30 mobile homes, I couldn’t imagine 300. You def have more energy than I have
Great work with all of the properties you already own! 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. Keep up the great work!
This was a good interview! Learned a lot..
Very glad to hear it! Moving forward if you have any follow-up mobile home questions or issues never hesitate to reach out. Happy to help if possible.
Thanks for the excellent content. Mobile home investing is a part of the market that may be largely overlooked and is definitely a worthy investment option.
Hi SteveInvests! Thanks for watching and commenting. It certainly is a weird and interesting market. Moving forward if you have any mobile home questions never hesitate to reach out. All the best.
This guest is very very valuable. Great video!
Thanks for following along and commenting. John is a great investor and absolutely knows his stuff. Hope you got a few good tips from the video.
Great video. Watched it twice and took extensive notes the second time through.
Very glad it was helpful!
awesome advice, and I love your interview style. Great job!!!
I hear you coach!!! great points and awesome video john.
Hi cameron. Thanks for commenting. Really glad to hear that this video was helpful. I know this is a very late reply however wanted to follow up and thank you for taking the time to watch this video. If you have any mobile home related questions never hesitate to reach out anytime. All the best.
Thank you for the book recommendation!
Very happy to help. Thank you so much for watching. Keep in touch and if you have any mobile home related questions never hesitate to reach out any time.
Hello from Kentucky!!! I am planning to get started here as well! Super excited!
Very very glad to hear this! How is everything then is getting started? Obviously things are pretty different with regards to the coronavirus. Moving forward if you have any mobile home related questions never hesitate to reach out any time. I'm trying to make timely videos with regards to differences in the market. However there are absolutely still buyers and sellers across the country. Moving forward feel free to keep in touch. All the best. Stay safe. Talk soon, John
Great info! I just came across mobile home investing TODAY. I'm loading up on info and this video is so helpful.
Great content, really appreciate the honesty and insight given to help those of us who plan on doing this in they future. Thank you both!!!
All I can say is WOW! Thanks guys for sharing this abundance of knowledge and wealth!
I'm so grateful I've found this channel. I'm finally serious about taking nthe steps to move forward with my desire to investment & two vids in this channel is a tremendous resource. Thanks guys. ❤️
Thanks for commenting and reaching out! Glad you found us too. Great screen name as well. Moving forward if you have any mobile home related questions please never hesitate to reach back out anytime. Comment here or email me directly at support@mobilehomeinvesting.net. All the best. Keep in touch. Talk soon, John
Thank you! Great interview.
Thank you Johns...
Great interview!
I just checked his landing page and it hasn't been updated since 2019.
I hope nothing bad happened.
Hi Elizabeth. Thank you for reaching out and connecting. I believe John is doing well. We have been in touch since 2019 however less lately. I need to reach out to him and say hello. Thanks again for commenting. John absolutely knows his stuff and I'm glad to be working with them and glad he was able to come on this video. As always, if you have any mobile home related questions now or moving forward never hesitate to reach out anytime.
How can I contact John from Kentucky?
Great, helpful tips.
Right! Thank you very much for taking the time to watch the video and comment. Moving forward if you have any follow-up mobile home issues or questions please never hesitate to reach out anytime. All the best.
Great Content! What is the title of the paperwork that the buyers are asking the sellers to sign upon purchase?
Big John #L1C4 I'd love to partner/be mentored (and understand time is money) in the Ville.
Kentucky??? Oh yeah I need this vid thank you!!!!
Hey John I'm about to get a single wide under contract for 7k in a 55+ park where lot rents total $683/mo...would you wholesale this deal or turn it into a cash flow situation? Seller is very motivated...Thanks love the channel...
Sigh the lot rent spike is what pushed me out of renting mobile homes. How can one expect any cashflow on a $680 lot demand? I genuinely want to know
I say no. I never do a deal over 8k. Doesn't give you much room for repairs. What's the market in the area? If the market is $1000 I might depending on repairs.
What did you end up doing?
DPurple Palm no deal!
@@CoachChaneysTHECOMPLETEATHLETE did seller change their mind or did you? Thanks for sharing.
Hi John. Trying to find the pricing on your program but it is not clear in your site. Did I miss something?
Hi Carlos. Thanks for reaching out and connecting. Additionally, thanks for watching this video. I do hope that it was somewhat helpful to you already. There is a lot of free information on my main free blog investing website, www.mobilehomeinvesting.net. On this website there is a tab named "work with John" where you can find the investment of this program, what is included, and what is expected from folks involved. This definitely is a very accountable and action-based program, and it is not right for everyone. Please check out that page to get more information. Keep in touch moving forward either way. Happy to help answer some mobile home related questions whether you are a member of this mentoring/training or not. Keep in touch. All the best.
Can Mobil home management force you to put vinyl siding on your trailer? The trailer is from the 1970's but just needs paint.
Evening Marie. Thank you for reaching out and connecting. Yes, you can always comment here anytime with mobile home questions and I will be happy to help if possible. The short answer to your question is, probably. The mobile home park can play hardball with you and even choose to not renew your lease in most cases asking you to leave if they are not "happy" with you being there. Putting on vinyl to your mobile home will probably cost you $4000 or less. With that said there are definitely some handymen or companies that will be happy to charge you $10,000 or more for the same service. Keep in mind the material can usually be purchased for $2500 or so for a single wide. There are some companies that will allow you to make payments or perhaps the park and pay for this and you are able to pay them back. I completely agree with you that the home probably just needs painting and it would look a few years newer. I hope this helps him and answers the question. Any follow-up questions please never hesitate to write back any time.
@@MobileHomeFormula Thank you so much for your answer. It's nice to know there is someone in your ball court. But my main question is... does this park owner have the RIGHT to demand siding on the single wide, 1976 trailer. If they would just answer their phones and allow someone in the office for the two days that they supposedly have someone, we could talk to them. You see my daughter bought a house in January and is out of the trailer. But, as you mentioned, they play hardball and my daughter has had to pay for Feb, March, April, May, June and now July rent on the empty trailer. She had buyers that were never approved and it took months and weeks to get any paperwork done on their end. They are being real nasty about it. NOW (not months ago) they sent my daughter a letter demanding certain changes on the trailer. Such as vinyl siding. They don't have that kind of money to put toward the trailer. They even sold it "as is" and the new buyers were going to improve the place and yet were not approved by the park owners. Does that sound normal? She needs help. She hasn't slept worrying about it. Thanks John. What do you think?
What are good resources for laws about buying and selling mobile homes in Texas?
What software is he using or is there a software you recommend....😁
Hi Tony. Thanks for commenting and following along. There definitely is a lot of high-tech software out there these days. Software for analyzing properties. Software for managing prospects. Software for following up with prospects. Software for organizing. Software for mailings, skip tracing, phone calls. Software for screening tenants and also managing them and collecting payments. Other software as well. The reason I mention this is because I do not want to give you any wrong or incorrect information. If you let me know what type of software you're looking for with regards to recommendations I would be happy to help if possible.
What about Capital is there anyone/company to apply to for small loan to get started?
Depends on where you are or how much capital you need. I had capital in the beginning but you can get personal loans from banks, short term lenders etc. If you plan on financing your purchase have a set plan of attack and be sure of your numbers.
Seller financing
Do I create a storage agreement with the park manager or do they create that paper work
Thanks for commenting. The park manager will definitely have the storage agreement paperwork for you. However, some parks will not have this paperwork and will just have you sign a normal lease agreement. I hope that this helps. Moving forward if you have any follow-up questions never hesitate to reach out anytime.
Great content 👌
Thanks Randall! Sorry for the late reply but very happy to hear that this video was helpful. Keep in touch moving forward in if you have any follow-up questions never hesitate to reach out. All the best.
Cab you buy into senior community
Hi marketing guy! Like most answers in real estate, the answer to this question is definitely, it depends. It depends on who is buying into the senior community and it depends on the senior community and the manager, as well as potential other things as well. However you should absolutely pursue mobile homes in senior communities and if the numbers make sense then taking action can definitely make sense. However before you crunch too many numbers you can certainly speak with a mobile home park manager to introduce yourself and determine if they will allow you to be there. There are other strategies depending on what exactly the park manager says in response however I hope that this helps and makes sense. Moving forward if/when you have any follow-up questions never hesitate to reach out. All the best.
Has anybody done this type of business in socal?
Hi Marketing Guy! Thanks for reaching out and commenting. Yes, there are investors in Southern California. You certainly are any unique area for this type of investing. Obviously there are different areas of Southern California, just like there are different niches within mobile home investing. If you have any California specific questions or thoughts never hesitate to reach out. Feel free to keep in touch. All the best.
John I wonder why you don't like renting your mobile homes. I personally think that the fact that renting gives you passive income cash flow that never ends outweighs the negatives that come with being a landlord. Get EXCELLENT at marketing your property so you have a huge list of potential tenants and then cherry pick exactly who you want in there. If you focus on being good there the occasional problems that arise such as repairs needed won't matter as you will have an endless cash flow AND you can always choose to sell WHEN you decide you've had enough if you choose to.
Also you dodge the safe act/dodd Frank which 99% will never cause you any problems but still I'd rather be 100% then possibly run into legal trouble down the road and lose a lot of money.
What's your view on this and others views here? I would like for you to make a video on this or we at least have a dedicated conversation about it.
From what I can gather, there are a myriad of reasons...not the least of which is that many MHP's won't allow it.
And then there's the matter of pleasing the landlord, your business partner...even if it's accepted.
Does your business partner want a Renter or an Owner?
Who takes more Pride in their community?
Who takes better care of "their" place and surroundings?
A TB is essentially a 5 year renter, who pays a move-in fee, has some skin in the game and does all their own maintenance.
Cherry pick a Renter that will do that.
@@RoyalHippieGangstercom who said we had to have business partners?
Yes tenant buyer is a great deal but you there's a market out there for section 8 veterans that are 55+ and just want a place to live. You can only rent for so high so you mind as well invest in these properties that are lower cost so you can get a greater return. Section 8 and special housing programs believe it or not produces great tenants if you get veterans especially handyman type. 1 bed 1 bath for a single guy who is a veteran on section 8. They can fix things themselves and I do the right thing and take it off the rent for them. They don't have a spouse or gf living with them causing potential arguments down the road which they can end up breaking up....and if they were relying on each other for income for rent money then they cant end up paying. That's how most problems occur in renters.
It's not the be all end all but I think it's a tool in the investors toolbox that should be used more often.
@@macknumber9 ...interesting.
I'm learning something every day.
And I agree, the men you seek as renters, in the condition you seek them in, would be a good renter...AND...you'd be providing affordable housing to those who deserve it. I love it.
As per usual, there's a path for every walker.
-
My gut still tells me that all else equal, I would personally rather be trying to find a 55+ single male Vet to plug into at TB situation.
While you say they 'can fix things themselves, most renters do not.
They typically do the exact opposite.
But yes, I'd say any human who's handy 'can fix thing in their rental and it's a good idea you have to compensate them with lowered rent for the job they did.
Question:
Are you going to supervise their work?
Have they provided samples?
Do they have references?
Do you care how well, or not, the job gets done?
Essentially, now you have to vet your Vet for both roles...renter and contractor...or role the dice.
Are all 55+ male Vets good people?
Or do some come home with a crazy score and a drug/alcohol problem?
Bottom line:
I need an education on Section 8.
I'm not typically a fan of our govt. nor being in contract with them.
Good luck!
#7 😂