Trailer Cash Academy members Andreas and Chelsea are a dynamic duo doing some amazing things with mobile home investing. On one of their recent deals they’re expecting to make a $25,000 profit. They’ve been able to travel to some crazy places and do some amazing things with the power of mobile home investing.
So, in this blog we want to learn more about them as a couple, how they got started and how they were able to afford a huge 6-month family vacation.
How they got interested in mobile homes
Andreas was flipping single family homes for a big investment company in his town, managing everything from the rehab all the way to the sale. And Chelsea was doing sales at a recruiting company that helped people get into the heavy equipment industry. They were both working about 40 hours a week at that time with busy schedules.
One time Andreas was doing research on potential real estate avenues, all the possible niches he could find and he stumbled on a podcast. And through this podcast he learned about the low capital investment needed for mobile home investing.
He figured it was a better avenue for him because when he had tried to do rental properties prior to that he realized it was going to take him a really long time to create a large enough rental portfolio. So mobile homes piqued his interest right away.
Quitting their jobs and travelling for 6 months
Chelsea and Andreas worked with a mentor who helped them get their feet wet in the mobile home niche. And with repeated success they were able to quit their jobs, sell everything they had, and fund a 6-month RV excursion all over different states in the US.
“We used the mobile homes that we had sold for payments to pretty much finance that whole trip. We had a couple of condos but the vast majority of the money that was coming in every month, while we were on the road was from mobile homes that we had sold.
And it wasn’t perfect, but for the most part people stayed on top of their payments and we were able to get back into town and take care of a couple things that had gone a little south. But nothing too bad considering that we were gone for six months completely out of town.”
They travelled all across Colorado, New Mexico, Texas and Florida. What’s even better about it is that they were checking out mobile home parks and other opportunities while they were on the road.
That’s what passive income allows you to do. Amazing things like that. Most people in their early thirties can’t take an early retirement for 6 months and just travel around the world.
“It was a great journey. Our little one was six months old at the time we started. So it was an adventure to say the least. And we did tons of hiking with him in a little backpack. So, really beautiful. It was a good time.”
The best deals they made so far
Chelsea and Andreas told us about the two best deals they’ve made. One was a flip of an extremely old home for $10,000 profit. Andreas does a lot of the rehab work himself along with his handyman, his flooring guy, and his HVAC guy that takes care of the heater and air conditioning.
“It was through a park manager. She offered the home for $6,000 and we negotiated it down to $4,000. There were some roof concerns, but the house wasn’t bad.
It was an original 1975. Lots of wallpaper, but it looked really brand new. It was old, but really great. So we did a quick rehab on that home in about a week and a half to two weeks.
So we bought it for $4000. We put about $7,000 into it. And then we ended up selling for a profit of $10,000. And from the day we bought it to the day we sold it it was right on 30 days.”
Amazing. And then there’s the recent $25,000 deal that they were working on. It’s by far the biggest home they’ve ever gotten into. They bought it for $31,000 which is way above anything they’ve done before.
“It’s a 2004 double-wide in a really nice park. And it wasn’t bad at all. We bought it for $31,000 and we put $5,000 into it.”
With the $5,000 Andreas did the flooring, new paint inside and out, installed a brand-new heater and just made it look really nice. Again, the rehab was really quick. It took three weeks or less working alongside his team.
He feels that the home could get him a profit of more than $25,000 but there were some scratches on the hardwood floor so that could knock down his profit a little bit. It’s currently on sale for $65,000.
“It has been on the market for already two and a half months, which is expected I think for this bigger home.
But we’re hoping that as soon as you get more people coming into town, as the winter gets here I think we’ll find the right buyer.“
“We’re using our own cash, it’s tying up our cash. But really in the end, you go look at the park and it’s just beautiful. They’re bringing a lot of brand new homes into it. And those homes are going for $130,000.
So when somebody comes into the park looking for a home and they can see, ’Wow, I can buy a new home for $130,000 or I can buy a slightly used home that’s been repaired for $60,000 – $65,000.’ I think it’s a pretty easy decision. I hope. I think that will make a lot more sense.”
We want Chelsea and Andreas to keep us updated on that deal. And for the most part we think they are on the right track. They’ve done enough deals, they know what they’re talking about. And we even want to partner up with them on some homes that need more rehab work than we can handle.
Before we left them we asked Chelsea and Andreas what their future plans and aspirations were for the next 12 months.
“Well…we found out passive income is the way to go. We both feel we are unemployable at the moment. We just see it as a great niche that we want to keep exploring.
So really the immediate goal would be to get another 20 mobile homes in our portfolio. And the average typically for us comes out to $350 per home, per month. And it could be anywhere from 3 to 5 years.
So if we are able to do that it would give us a little more freedom. And then we would like to do another RV trip in the future. That’ll definitely be on the list.”
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