All Forum Posts by: John Fedro

Hi @Daniel R.

Are you looking to build a MHP from scratch in Tx?

I have done some research near Austin and in our surround counties and it does not seem difficult to place 3-5 mobile homes on a small track of the land in the county. This is something I have done in Fl but not yet in Tx. However not sure about building an official park with more than a few homes.

Would love to hear about how you decide to move forward.

Best,

John Fedro

Hi @Joe Butcher,

Good thread guys.

I know of 2 investors that are in your DFW area investing in mobile homes on private land, however mainly inside parks. Are you looking at investing in MHs inside parks or attached to private land, or both??

As far as specific areas "you should concentrate on" I can say to spread out. Motivated sellers do not often live in one certain area of town. You want to dominate the entire area, one section at a time. Keep being out there 4-5 days a week marketing, finding leads, and helping sellers.

Hope this helps,

John Fedro

Hi everyone,

This thread is hilarious! When it doubt go with cats.

I always liked those "unemployable" t-shirts. It may not be a good idea to use that however some sort of saying or motto like "chive on" with regards to real estate might look real good on all sorts of knick-knacks.

When is the deadline to get some ideas to you?

Look forward to seeing what everyone comes up with,

Best,

John Fedro

Hi Aman,

Glad you posted this thread here. I am curious what a seasoned MHP investor will say to your questions too. Like Laurie asked, what locations are you looking at purchasing in? I receive MHP leads from time to time and can pass them along if in your area.

Similarly I am also looking for my first park myself. :)

Keep in touch and let us know how the process of acquiring your first park goes. We would all love to learn with you as you go through the process.

Best,

John Fedro

Hi @Craig Jennings and other readers,

Great to see you are interested in mobile homes as investment vehicles.

To add a few comments and questions:

If you plan is to purchase and rent mobile homes with attached land inside senior housing deed-restricted communities (aka, senior parks with land) than you will not need a license to purchase homes and rent them or sell them.

Some parks say no rent and other parks do not mind renting as long as your tenant becomes approved at the park.

Tom gave excellent advice to become as familiar as possible with this business before getting started. That is almost always sound advice.

Question: Why only a seasonal rental? However it may be possible to have a longer-term senior renters placed in the home. What about the other months of vacancy? Will this be a furnished rental?

Talk soon,

John Fedro

Hi @Dominick Carney and other readers,

This is actually a really really good question. Thank you for posting this. It shows motivation that you would ask for others opinions as to whether this could be profitable or not. Most investor just assume things and would not have gon the extra valuable length to ask for help. Kudos.

To that last point it is likely a good idea to do the opposite of what most investors say to do or are doing.

As @Tom Goans certainly mentioned this is a fun and valuable business to fall into.

I also agree with Tom that wholesaling is not your best way to start in the Mh business if these homes are inside of parks. It is possible but not likely on your first deal. On land you are getting under contract too is a different story. With that said I do believe I know other MH investors nearby that I am helping that may be interested in this lead.

I would advise that if you do wholesale the deal to instead bird-dog the lead to a seasoned, active, and trained investor that is willing to train you too. This is also because a seasoned investor may be able to strike a better deal than you will be able to.

I hope this helps. Feel free to add any other questions I may have brought up while talking.

Thanks for the shout-out @Steven J.

Best,

John Fedro

Hi Paula,

Excellent to hear you have a park in your sights! I hope to hear great things in the future from you both. Is this property in the Tampa Bay area or a distance away?

In Florida I recommend http://themobilehomeman.com/ to ask all your MH Park investing questions to. There are likely man questions to ask of these older style parks versus new/updated established parks.

I know many of us would love to hear how this deal develops.

Keep up the great effort.

Best,

John Fedro

Hi @Logan Boyter

Welcome to the BP family!

It is great to hear that a simple conversation about real estate lead you to the journey you are on now. Many people have the same realization as you, "that real estate makes money" however they let minor obstacles and personal mental blocks stop them from ever competing their first deals.

This is a great site to network and learn from. Welcome again.

Best,

John Fedro

Hi @Richard Viers

Thank you for forwarding this. Great message! I'll have to admit I didn't know congress had such perks or such carte blanche to stack the deck in their favor.

Where is this "Reform Act of 2012" now? Hopefully not dead in the water.

I'm not sure the immediate impact this message will have on others but I am forwarding it to some folks I know may find it interesting now. I too agree it is time to demand a change to happen throughout government.

Best,

John Fedro

Hi everyone,

@Marc Faulkner Just PM'd you back with the info.

@Steven Johnson Thanks for the kudos. Heck ya! If I am not able to profit with the lead, and none of my clients are local to the area then I want someone apart of the BP family to take advantage. Also, the sellers are in need of help to sell fast and I think we can all sympathize with their feelings of motivation.

Best,

John Fedro