In this blog we’re going to introduce you to another one of our rockstar students, Quillan.
Quillan worked in law enforcement for about 8 years and then recently switched to a job that involves investigating fires. It’s something he can do from home.
He got interested in real estate 2 years ago and decided to become a realtor on the side. As a realtor Quillan made $25,000 in commissions in both his 1st and 2nd year.
While on the job one time he had a conversation with a lady who happened to mention mobile home investing, and how she’d like to get into it. He talked with her about it and she gave him some suggestions on where to learn more.
On that same day Quillan went home, started learning about mobile home investing online and discovered our channel. And since then he’s been hooked. When we got on a call with him for this interview Quillan had started his own real estate company two weeks earlier, and had just secured his first deal.
Guys, it was his first deal and he locked down 40 mobile homes at $200 a piece! And he was looking to make over $250,000 on the whole deal.
So read on to find out more about Quillan and how he managed to get such a good deal in such a short amount of time.
Why 40 mobile homes were up for grabs
After we got the introductions out of the way we jumped straight into the details of the deal. How did he manage to get 40 mobile homes at the price of $200 a home?
“So this large company came in and purchased 9 mobile home parks.
And they were bringing in 200 brand new homes into our community, which is amazing. And the destroyed homes that are no good, they’re gonna take them out and throw them away basically.
So they’re cleaning up the parks. Their focus is going to be on the new homes. They don’t really have the staff to take care of the used ones that need some work.
So they were looking for an investor to come in and purchase a bulk amount, instead of trying to individually sell each one to people that qualify to fix it up and have the money to do it.
So they interviewed me over the phone. And then they sent somebody from New Mexico to meet with us. And we walked through some homes and they told us their expectations and they chose us to purchase a large amount of them.”
That’s crazy. Quillan had prior experience as a real estate agent but none as far as mobile homes were concerned. And that was a really, really big interview. So we wanted to know how Quillan sold himself. How did he get them to say, ‘Okay, this is our guy, this is who we want to work with?’
”I basically just gave them my personality and we clicked pretty well personality wise. Then I basically explained that I want to meet their expectations for their parks.
They’re main focus was on the exterior. I told them I’m willing to meet everything and try to exceed it. And I’m not looking to put out the homes that are slumlord style. And so that’s something that they wanted in their community.”
Usually finding the mobile homes is the hard part but with 40 of them going for so cheap, Quillan already had a whole inventory on his hands.
He told us he met with the company and looked at the homes. The company had color coded the homes, green, yellow, and red. The red ones were going to be thrown away.
The green ones were pretty much ready to go with only a few bits of work needed. And the yellow ones were homes that needed more effort to get ready for the buyers and tenants.
Quillan’s main focus right now is to get those green ones ready. And so he’s brought in contractors to get the plumbing and HVAC inspected for repair or replacement.
”I have a property management company that my uncle owns. And so we’re working on a good deal with them to get all 40 of them occupied.“
Quillan works with a team
While we were talking Quillan mentioned having a team with him since he started as a realtor 2 years ago. We’re big fans of this because newbie mobile home investors have this mindset of ‘I can take all of this on myself.’
We teach our students that a lot of these things CAN be done by themselves. But when you’ve got a huge project like this with 40 deals, doing that by yourself would take forever.
On projects like this having a team adds leverage to get the deal done and gives you confidence when you need to take those big interviews as well.
Quillan needs a team too because he’s still got a full-time job going. At his full-time job he has to clock in 80 hours in 2 weeks. So basically he can set up his schedule however he wants as long as he makes those 80 hours. That’s why he can move things around and get mobile home stuff done during the day.
“So the crazy thing is that this guy that I’m working with, his name’s Dylan. And we basically call him our business manager.
I called him the day that I started the business. I said, ‘I’m going to need some help.’ because I got a 9 to 5 that I get called out for all the time. Middle of the night and stuff. So I called him and he said, ‘Wow, I literally just quit my job today.’
And so it was like perfect timing. It’s the one guy that I knew that I wanted to work with. I knew that I was going to need somebody. He’s got a bachelor’s in marketing and he has such a great personality that when we go into a meeting together, like at the bank, it’s just flawless basically.
And so he made it really pretty simple. He kind of follows the same things that I believe. So when we were talking to the bank, you know there was nothing that he was saying that I kind of disagreed with or anything.”
His advice if you’re on fence about mobile home investing
Quillan says he would love it if he could get all 40 homes on seller financing. So let’s see how it goes.
He put out an ad that said he offered seller financing on the purchase of mobile homes and he got 30 responses by the end of the day. A few days later he put up a couple more ads and he got another 50 or 60 messages.
We talk alot about the affordable housing crisis going on in America right now. And we tell people all the time we’re not just saying this just to say it. There is a demand here. And you’ll see it in your market just like Quillan did.
There’s a ton of people out there that don’t necessarily qualify for a single family home, or they want to live a more affordable lifestyle.
So before we got off the call we got Quillan to shoot our readers some advice if they’re feeling unsure about getting into mobile home investing.
“I would say just do it because I’ve heard from so many people ‘Well, this deal it’s like too good, too.’ and ‘If it’s this easy, anybody can do it.’
Well, there’s not other people out there that are willing to do it and actually make the jump. So if you do it, you won’t regret it.
There’s some homes that I’ve walked into and I’m like, ‘Oh my gosh, what did I do?!’ But I have 38 others that are excellent. And they’re going to be amazing deals so I’ll focus on that one later.
But I just say, just do it.”
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