All Forum Posts by: John Fedro

Hi Travis,

Thanks for you friend request. I look forward to following your mh success. Make sure to post your first deal on this forum for help and to inspire others.

Concerning becoming a mobile home flipper, there is consistent money to be made however I am curious of your main motive and what will best get you to your end goal. If it is to make enough money to invest in traditional single family homes then I would say not not bother with mobiles unless you're looking for cash flow and already have some money [$2-5k] to begin investing. As mentioned by Brandon you can begin investing without any cash-money if your drive is there, this is how many of us start.

In your state of Ca we are having very good success with building cash flow with MHs but the amount of buyers with cash to close are few, unless the home or home/land is significantly undervalued or home qualifies for conventional financing. This does not mean that you can not have success however what is most popular seems to be selling homes for payments rather than an all cash sale in Ca.

In addition if you are looking to flip mobile homes regularly you'll need a mobile home dealer's licenses in Ca. I wrote a recent post about if mh investing is the right start for you that you should check out. http://www.biggerpockets.com/renewsblog/2012/12/17/faq-mobile-home-investing/

Best,
John Fedro

Also, how badass of a site is BP that you can ask a question and get a dozen quality responses in less than 24 hours! (:

Hi Shari,

Thanks for the mention Jason Grote.

Great and spot-on advice from Jon and Will about investing in mobiles on land and staying consistent in your offers/marketing.

With all that said if your only goals are to 1.) generate $1,000 monthly cash flow 2.) by using less than $80k and 3.) find a r/e focus that you like and can continue investing with I can tell you I am helping folks in southern Ca do this right now.

The real question is will you LIKE this "niche" of investing even if you make your $1000/mo cf. MH investing on land (which in Ca is more applicable inland) or investing in MHs inside pre-existing parks BOTH take hours per week and speaking directly with seller and buyers... no making and submitting offers in bulk via Realtor here.

If you would like more info about the subject it is very lucrative and has relatively less competition, however there is still much effort required. There is much more info on this site or check out my blog for more info.

All the best in whatever market you choose.

And remember to do something you like, keep educating yourself, and stay persistent at it for at least 6 months before throwing in the towel.

I hope this has helped.

best,
John Fedro

Thank you Jim,

This makes a lot of sense.

Best,
John FEdro

Hi Jim,

Thank you for the post.

Is this 400+ MHPs for sale normal inventory? Is it normal for MHP sellers to simply sit and wait for years and years? Your info is appreciated.

Best,
John Fedro

Anthony Ferguson welcome to BP and great for you for taking life into your own control and wanting to investing in r/e. Mobile homes can and are a great investment when properly secured and resold or rented.

Something you said earlier about "learn by making mistakes" (I'm paraphrasing) scared me for you. With regards to mobile homes in parks especially you do not want to be holding a mobile home in a park that is notoriously hard to resell for some or many reasons. Now the home is vacant, bleeding cash, making you mad, and there is now a bad-taste in your mouth. Mistakes suck and if possible learn from someones else's mistakes.

In addition to Lonnie's books you can check out the 2012 BP summit audio download. There I discussed MH buyers, sellers, and a safe getting started path for you to take.

Either way we all hope you pursue REI and do post your results in this blog forum for others to benefit and discuss.

What area of the Country will you be investing in?

Best,
John Fedro

Bryan I like your comment!

Good story and good post. Thanks Karen

Excellent Jason! Please do.

Great motivation Jason!

I know a lot of us (me included) sometimes take the awesome power of BP for granted. This site screams integrity and that is something that you can not find on many other big named r/e sites.

Best,
John

Thank you very much Marc!

All the best,
John