Wholesaling Mobile Homes In Parks 101 (How To)

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  • Опубліковано 3 лис 2024

КОМЕНТАРІ • 61

  • @HigherSelfSeason
    @HigherSelfSeason 4 місяці тому

    This was extremely helpful. Thank you.

  • @jasonh9335
    @jasonh9335 10 місяців тому

    Great channel. I’m really wanting to get into wholesaling. I’m just wondering what the pros and cons of wholesaling locally vs. virtually are. Subscribed to your channel btw. Great content.

    • @MobileHomeFormula
      @MobileHomeFormula  10 місяців тому

      Thanks for watching and subscribing! Moving forward if you have any follow-up questions never hesitate to reach out anytime. Typically when I work with mobile home investors we are actively attracting and finding mobile home sellers in our local markets. We are then analyzing these deals and sometimes we purchase them to hold or flip, and other times we are not able to purchase them directly, but rather wholesale them for a profit. We typically only wholesale mobile homes when we are not able or when we do not want to purchase them ourselves for some type of reason. Investing locally requires work on the phone, online efforts, and definitely time in the field actively in parks and talking face-to-face with buyers and sellers. However, when you are doing things 100% remotely than 100% of your efforts will be done over the phone and online. You will not be able to successfully do everything locally if you are only virtual. Then again, when your virtual you can advertise and market to multiple areas near and far. Having a way to get rid of these homes and sell them is key as well. You want to have people you trust and can work with in each area that you will be investing in. I hope this helps and makes some sense. This is definitely a vague answer however I hope it points you in the right direction. Keep in touch moving forward. All the best.

  • @michaelcummings8119
    @michaelcummings8119 2 роки тому

    Great information.i think buying for all cash is the way to go

    • @MobileHomeFormula
      @MobileHomeFormula  2 роки тому

      Hi Michael. Very good to hear from you. Thanks for commenting here. Buying for cash definitely is one option. If you purchase for cash you should get the lowest price possible. The second lowest price may be some type of payment offer or balloon offer if possible. Both of these offers should typically be made to every mobile home seller that fits our criteria if possible. However wholesaling or using our consignment form is definitely easier now than ever before. This wholesale/consignment offer we can always fall back on as it typically is the most amount of money the seller will get closer to retail price. In these situations you will not be paying cash or payments, but you will receive a profit of cash when a mobile home buyers located. In the program, check out lesson B .3 where we talk about all of this in detail and the paperwork. As always, any questions big or small let me know. Take a bunch of pictures with any homes you go through and send them over so we can talk about them in detail. Talk with you soon.

  • @PrestigeDentRemoval
    @PrestigeDentRemoval 2 роки тому +1

    Might do my first one today. Excited 😊

    • @MobileHomeFormula
      @MobileHomeFormula  2 роки тому +2

      You got this! If you have any mobile home questions never hesitate to reach out any time.

    • @PrestigeDentRemoval
      @PrestigeDentRemoval 2 роки тому

      @@MobileHomeFormula Can't get the guy to sign contract as he's old and doesn't have email. He's out of state. Mobile unit is 55k arv 5k repair and 20k price. Title in hand

  • @juanmiafl
    @juanmiafl 4 місяці тому

    Would you buy a mobile home from a wholesaler? To fix and flip?

    • @MobileHomeFormula
      @MobileHomeFormula  4 місяці тому +1

      Thanks for reaching out and connecting. The short answer is yes, however it definitely depends. I can count on one hand how many mobile homes I have purchased from a wholesaler in the last few years. However occasionally wholesalers do bring us decent opportunities. Most times the homes are overpriced and I have to negotiate them down even further. However sometimes it does workout. I can say with 100 percent certainty that most of our deals are purchased directly from the owner - occupants that are selling the home or park managers for one reason or another. Hope this helps a bit. Any follow up specific questions never hesitate to reach out any time.

  • @stephenmcauliffe912
    @stephenmcauliffe912 4 роки тому +7

    Can you make a video on your favorite places to advertise mobile homes online , or what are they?

  • @inspiringminds6822
    @inspiringminds6822 2 роки тому

    Great content my Mann!

    • @MobileHomeFormula
      @MobileHomeFormula  2 роки тому

      Glad you enjoy it! Thanks for commenting. Any future mobile home related questions never hesitate to reach out anytime.

  • @jklm5219
    @jklm5219 Рік тому

    Need cash buyer for manufactured home 🏡 in Lakeland Florida God bless and let's roll

    • @MobileHomeFormula
      @MobileHomeFormula  Рік тому +1

      Thanks for reaching out and commenting. For the right cash price the buyers are definitely out there. If you are having trouble selling then it is either an advertising issue or price issue. Keep in touch moving forward. All the best.

    • @jklm5219
      @jklm5219 Рік тому

      @@MobileHomeFormula need help John merrick rd Lakeland Florida

    • @jklm5219
      @jklm5219 Рік тому

      Would love to jv if the team does so 55/45

  • @inspiringminds6822
    @inspiringminds6822 2 роки тому +1

    My fifth time here. I gotta make it stick 😂

    • @MobileHomeFormula
      @MobileHomeFormula  2 роки тому

      Great job coming back to understand more to maximize opportunities and avoid making mistakes. If other people can be a success in this business then there is no reason why you are not able to either. Moving forward whenever you have any mobile home specific questions never hesitate to comment back or email me directly at support@mobilehomeinvesting.net. Happy to help if possible. All the best.

  • @Kenesha_
    @Kenesha_ 4 роки тому +11

    Hi John! Thanks for breaking this down so nicely! I flipped my first MH this month! I have an off market opportunity for two MH parks in Florida. Let me know if you would be interested.

    • @MobileHomeFormula
      @MobileHomeFormula  4 роки тому +3

      Hi Kenesha Lewis, Thanks for reaching out and connecting. I apologize about the delay in this comment reply. I assume by now these off market mobile home parks have been gobbled up for sure. Moving forward never hesitate to reach out anytime. Feel free to comment here or email me directly at support@mobilehomeinvesting.net. All the best. Keep in touch. Keep up the great work. Congratulations on those properties! More to come. Always here if you have any follow-up questions. Talk soon, John

    • @stevenstrong9448
      @stevenstrong9448 3 роки тому +1

      Where did you get your training

    • @donnak9258
      @donnak9258 3 роки тому +1

      Can you explain your process of getting the paperwork all the way to closing

  • @michaelking7873
    @michaelking7873 4 роки тому +7

    I like the consignment idea! The first time I have heard of this. Always killing John! Thank you!

  • @ManufacturedHousingExpert
    @ManufacturedHousingExpert 4 роки тому +1

    Thank you for sharing your valuable knowledge.

    • @raycavalli365
      @raycavalli365 3 роки тому

      I thank you for this “playbook “ I’m new to the business and I plan on being here for years to come. I’m in Phoenix, Arizona. I’d like to periodically call on your expertise.

  • @soukeymovesyou
    @soukeymovesyou 4 роки тому +4

    Great info John! I’ll be watching this video over and over until those concepts are embedded in my brain. Thank you for your time!

    • @MobileHomeFormula
      @MobileHomeFormula  4 роки тому +1

      Thanks for reaching out and connecting! Moving forward if you have any follow-up questions please never hesitate to reach out anytime.

  • @gustavomcmillian7360
    @gustavomcmillian7360 3 роки тому

    RESPECT!

    • @MobileHomeFormula
      @MobileHomeFormula  3 роки тому

      Now you got me singing the Aretha Franklin song. Keep in touch moving forward. Any mobile home related questions never hesitate to reach out anytime. All the best.

  • @danielshaw4847
    @danielshaw4847 4 роки тому +1

    Good stuff. I get a ton of leads coming in, 10 so far just today all over the nation. I have been selling leads getting paid ater they close, doing no contracts and ended up getting burned by an investor. I really need to get these contracts. I was planning on doing this until I saved the funds to invest in mobiles. Am also doing this to get mentored.

    • @MobileHomeFormula
      @MobileHomeFormula  4 роки тому +4

      Hi Daniel Shaw, Great job doing what you are doing. Great job already being active and aiming to work with local buyers and sellers in your area, and all around the country too. Understood about you being burned. However you cannot be burned without being active and taking action. Keep taking action moving forward. If you have any questions never hesitate to reach out any time. Keep in touch. All the best. Talk soon, John

  • @bornrelevant8582
    @bornrelevant8582 4 роки тому

    Thanks a lot I thank you were heaven sent!

    • @MobileHomeFormula
      @MobileHomeFormula  4 роки тому +1

      Thank you so much for reaching out and connecting. Moving forward when you have any mobile home related questions never hesitate to reach out any time. All the best. Talk soon, John

  • @robertsugarland
    @robertsugarland 2 роки тому

    If you tell the seller “ I have a buyer who could pay your price”, how do I get in writing my commission?

    • @MobileHomeFormula
      @MobileHomeFormula  2 роки тому +1

      Hi Robert. Thank you for watching and commenting. I do hope that this video was somewhat helpful to you already. Any commission, whether it is a flat fee, percentage, or something else should be written in the contract you have signed between you and the seller. Perhaps you are keeping everything over a set price, collecting a flat fee and then giving the rest of the money to the seller, or splitting some amount of profit with the seller 50-50. However this should definitely be in writing in a contract prior to you putting any work into advertising the deal. I hope this helps and makes sense. The contract I'm referring to can be created by a local attorney, or potentially put together with the help of an existing realtor type of agreement. However it is important to be careful to not list yourself as a broker or realtor if you are not actually one. Hope this helps him and make sense. Keep in touch moving forward. If you have any mobile home questions never hesitate to comment back any time or reach out to me directly at support@mobilehomeinvesting.net.

  • @inspiringminds6822
    @inspiringminds6822 2 роки тому

    Do you have a Facebook group and where can I find a purchase agreement?

    • @MobileHomeFormula
      @MobileHomeFormula  2 роки тому

      Thanks for reaching out and connecting. Yes, we do have a Facebook group of active mobile home investors from around the country. We do provide forms, instructions, training, and partnering to folks that are active members with the Mobile Home Formula. You may find out more about this program in this video's description. Keep in mind that if you have any general mobile home or mobile home investing questions never hesitate to reach out any time. We are always happy to help answer questions for you for free when needed. Keep in touch. All the best.

  • @robbooks2138
    @robbooks2138 3 роки тому

    Hey john! Appreciate all the info! I’m looking for the link for the consignment contract?? Any help would be great! Thank you

    • @MobileHomeFormula
      @MobileHomeFormula  3 роки тому +1

      Hi Rob. Thank you for reaching out and connecting. My apologies for the misunderstanding. This contract was not provided along with this video. I do provide this agreement along with many others to folks I'm working one-on-one with, however I have found that providing forms for the general public can be confusing to some with some folks making errors and obviously having a number of questions with regards to how to fill things out, went to present things, how to present things, what to file, etc. This consignment contract is something a mobile home friendly attorney can help you create locally as well. My apologies again for the confusion and not providing this for free here. Moving forward if you have any mobile home specific questions never hesitate to reach out anytime. All the best.

  • @addiedrayton4547
    @addiedrayton4547 4 роки тому +4

    Hi John, great stuff. The downloadable consignment agreement is "not showing" on this page as you stated around 28:53 . Could you please add that as stated. Thank you so much for all your help.

    • @MobileHomeFormula
      @MobileHomeFormula  4 роки тому +4

      Hi Addie Drayton, Thank you for reaching out and connecting. I do hope that this video has been somewhat helpful to you already. This video has been taken from the mobile home formula training program and put onto UA-cam. I mentioned once or twice in the video that any forms mentioned on this video are available for members of the mobile home formula. That is the training program that teaches mobile home investors this business when I work with somebody one-on-one. These different forms have been created over the years by real estate professionals and attorneys, however there is no reason that you cannot do the same either. While the paperwork is very very important, it is also important to be working with the right sellers and buyers. You do not want to work with anybody that is going to undercut you or go around you if they have a bad day. For this reason you do want your paperwork to be very iron-clad however something that can be created locally in your area with the help of a real estate attorney if needed. I hope this helps and makes sense. Probably not the answer that you are looking for however if you have any follow-up questions never hesitate to reach out any time. All the best. Talk soon, John

    • @addiedrayton4547
      @addiedrayton4547 4 роки тому +3

      Yes, it makes sense now, that this info. is from your private program. Appreciate you sharing that and thanks for responding.

  • @fullofgraceandtruth85
    @fullofgraceandtruth85 4 роки тому +1

    How do I find the paperwork
    It takes me to your website but I see nothing

    • @suncity5343
      @suncity5343 3 роки тому

      I was wondering the same thing

  • @chrismog286
    @chrismog286 4 роки тому +1

    Great presentation! Pls I'm new in this business, do I need an attorney for closing these deals???

    • @MobileHomeFormula
      @MobileHomeFormula  4 роки тому +2

      Hi Chris! You do not need an attorney for these deals however it does help. A title company, real estate attorney, or contract attorney that will basically handle a personal property double closing would be ideal. This way the buyer does not have to trust you with the money, and the seller does not have the trust you holding a sign title and bill of sale. I hope that this helps him. Moving forward if you have any follow-up questions never hesitate to reach out any time.

  • @raw4beginners973
    @raw4beginners973 4 роки тому +1

    Great info John...thank you so much for your time! I loved your creative touch with your presentation:) Looking forward to your next video:)

    • @MobileHomeFormula
      @MobileHomeFormula  4 роки тому +2

      Hi Raw4Beginners, Thanks for reaching out and connecting. Additionally, thanks for watching. I do hope that this has been somewhat helpful to you already. Thanks for the kind words. If you have any follow-up questions never hesitate to reach out anytime. Talk soon, John

    • @raw4beginners973
      @raw4beginners973 4 роки тому

      John Fedro Will do John! Thanks again, Kandi

  • @kmforward3808
    @kmforward3808 4 роки тому

    I'm here for it. Thanks in advance!!!

  • @dakinwarfield6094
    @dakinwarfield6094 3 роки тому

    Hey, John thanks for your inspiring and educational videos, it's greatly appreciated! I've been looking at your videos for quite some time and now I'm interested in getting started. I would like to start your program. I live in indiana and im not sure on the laws requiring licensure r/t wholesaling MHs. I'd like to start off with this approach due to starting off with a small capitol. Thanks again for your time!
    Day.

    • @MobileHomeFormula
      @MobileHomeFormula  3 роки тому +2

      Hi Dakin. Thanks for reaching out and connecting. I do hope that some of these videos have been helpful to you already. Thanks for watching and commenting. Wholesaling mobile homes definitely certainly does have its time and place. However with all the other mobile homes you come across should be trying to partner with other local investors if possible. After all, if you are the one with boots on the ground and negotiating deals you should be able to wholesale, joint venture, and also try to negotiate payments with sellers if possible. All these methods will allow you to get into mobile homes with smaller amounts of capital. They are all realistic with a proper strategy and more importantly putting in the work. With regards to licensing, states are trying to control more and more what us investors do. Almost every investor that focuses on wholesaling that I work with is not licensed... Some do have intentions of becoming licensed eventually, however most do not. Whether you need a license to wholesale mobile homes varies a bit from state to state, and also who you are asking. You always want to use the correct paperwork, procedures, be ethical, treat buyers and sellers fairly, and set people up for success. With all that said, in Indiana you are able to purchase and sell up to nine mobile homes per 12 months before obtaining a dealer's license. When it comes to wholesaling mobile homes a license is not needed from the research I have done in your state. I hope that this helps and makes sense. If you learn anything new or have any additional follow-up questions never hesitate to reach out any time. All the best.

    • @dakinwarfield6094
      @dakinwarfield6094 3 роки тому

      Thank you!

  • @sandracarrizales842
    @sandracarrizales842 3 роки тому

    Where do I find a contract to do this kind of deal?

    • @MobileHomeFormula
      @MobileHomeFormula  3 роки тому +1

      Thanks for reaching out and connecting. There is a program, the Mobile Home Formula that I own and operate that has all of these forms for various states that I have had created and used over the years and currently. There are the programs and books out there as well that will provide different forms as well. You can also contact a local real estate attorney to have them create paperwork for you that you may reuse over and over again for different deals. No matter which way you go, make sure you understand your paperwork so that you can explain it to others. Keep in touch moving forward. Hope this helps some.

  • @coachm8004
    @coachm8004 2 роки тому

    An actual licensed realtor charge 6% of the sale, why would anyone pay 30% not to mention 80% to someone to sell their home...

    • @MobileHomeFormula
      @MobileHomeFormula  2 роки тому +1

      Hi Coach M. Thank you for reaching out and connecting. First things first, congratulations with regards to being a licensed realtor in your state. I have no doubt that this did not come without a good deal of hard work and effort on your part. Keep up the great work moving forward. I asked a very similar question after my first investing deal over two decades ago. I asked why would a mobile home seller and a mobile home buyers simply not find and work with each other. All I was doing was putting in the work to find sellers and talking with them and understanding their situation. It took a while to realize that buyers and sellers can absolutely work together, however for one reason or another some of them do not choose to work with one another but would rather work with us. Some sellers may choose to use a licensed realtor to help them sell the homes, and some may choose to sell them themselves. The ultimate answer to your question is that 6% is obviously a much more financially profitable option for a seller compared to 30% or more of their profits given away. However as investors, and licensed realtors, we are providing help and assistance in many ways. Sometimes when working with sellers we are making repairs to their mobile homes and paying lot rent while the properties being wholesale. There are other situations where we partner with the seller and split some of the profit as well. With all of these transactions, the situation has to make sense and this has to be win-win for both parties. The seller completely understands the situation moving forward and are happy to get started working with us. They are even happier of course when the mobile home sells. This was definitely not a very clear-cut answer however I hope it helps some and make sense. All the best.

  • @chrisrichtermindset
    @chrisrichtermindset 4 роки тому

    what are the laws in nevada? Can i just really wholesale the property?

    • @MobileHomeFormula
      @MobileHomeFormula  4 роки тому

      Hi Chris Richter, Thanks for reaching out and connecting. With regards to single-family homes and mobile homes on private land you should be able to wholesale contracts with no real estate license needed. However when it comes to personal property, mobile home specifically, you absolutely need a dealer's license as far as the state is concerned. There are certainly people buying and selling and wholesaling mobile homes throughout Nevada without the proper licenses, some of these folks are using the correct paperwork and some are not, some of these folks are very ethical and some are not. With all that said, you do not technically need a mobile home dealers license to invest legally in the state, however it is wise to have one. Feel free to check out more information at the link below. Hope this helps and starts to point you in the right direction. www.mobilehomeinvesting.net/mobile-home-license-per-state-how-many-can-you-buysell-per-12-month-period/ All the best. Talk soon,
      John