Can you start investing in real estate with just $15,000? Yep, and mobile home investing is how you do it. We know what you’re thinking, “I don’t want to own trailers! I want to invest in “real” houses where the “real” money is at!” That’s what today’s guest John Fedro thought too some twenty years ago when he stumbled into mobile home investing, which, at the time, was even too embarrassing for him to share. But, over the past two decades, this at-first “embarrassing” investment has made him wealthy, and if you follow his lead, it can do the same for you.
John has successfully made money with mobile homes in various ways: buying and flipping, wholesaling, renting, and seller financing, the main topic of today’s episode. He provides a masterclass on how to make money buying and selling mobile homes, where you essentially take on the role of the bank. However, it’s crucial to be cautious. Mishandling this could lead you into an ethical gray area and potentially harm your buyer. On the other hand, getting it right can create a win-win situation for both the buyer and seller while making you wealthy.
John shares his whole strategy, plus how he’s getting into deals for $15,000 and often making DOUBLE his money and $400 per month (or more) cash flow per door when he seller finances these properties. If you want a way to get into real estate investing without a ton of cash but with the potential to make a serious return on your money, this may be your winning strategy.
In This Episode We Cover
The three “levels” of mobile home investing and how much each costs to get into
The danger of seller financing the wrong way and how it can hurt your buyer
Why you MUST background check EVERYONE you seller-finance a mobile home to
One thing that new mobile home investors overlook that can ruin your properties
The exit strategies you must know about to avoid losing money on your next deal
Whether or not we would invest in mobile homes (and our concerns with seller financing)
And So Much More!
(00:00) Intro
(02:32) Seller Financing...Mobile Homes?
(11:18) Win-Win Seller Financing
(16:52) 3 "Levels" of Mobile Home Investing
(22:08) How Much to Invest?
(23:53) Cash Flow and Profit Numbers
(26:51) What to Look Out For
(32:38) New Investors, Do THIS!
(33:52) Would WE Invest In It?
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-976
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BiggerPockets Real Estate Podcast