Mobile Home Investing For Beginners: Expectations Vs Reality

Hey TCA family. The coach takeover continues and in this blog we have Coaches Jason and Charity talking about their expectations coming into the business versus their reality during the first 90 days.

Coach Jason Sessions, students call him J Bo, has been a TCA student for about 15 months. He’s still learning as time goes on but he became a coach with us about 6 months ago. He’s completed over 50 mobile home transactions with about 90% of those being wholesale deals.

Coach Charity has been with TCA over a year now and she joined our coaching team in December. She’s closed almost 10 deals, and those included RVs, campers and trailers in the state the Mississippi.

So in this blog you’re going to learn about 4 different ways they’ve had to change their perception of what’s involved with succeeding in the mobile home investing business.

Perception #1

As a woman doing mobile home deals in rural Mississippi, Coach Charity had a lot of concerns about the types of buyers and sellers she’d need to meet. But all that changed within the first 90 days of joining our community.

”I’m short, I’m like 5’1 so one of the perceptions I had was that I’d be put into unsafe or dangerous situations. Especially being out here in rural areas. Sometimes you have to go on farms and backwoods and it seems sketchy. So that was one of the concerns I did have.”

“Of course I have a permit and a registered pistol. So I keep that with me. I make sure I follow all the state laws with that. And I have a taser. I have mace. I haven’t had to use it at all.

And then I also make sure someone knows where I’m going. Even the address of where I’m going. Once I get there, I do a FaceTime or a video call with someone that I can trust to just pay attention to me and see what’s going on.

And if anyone is available to ride with me, they can just sit in the car. So I just always make sure someone has some kind of eyes and knows where I am.”

Perception #2

Coach Jason had the perception that once he closed about 5 or 10 deals he would have things set up where income was just rolling in. He learned that he had gotten really great at one type of exit strategy and neglected to use the others that we teach.

”I do a lot of wholesale deals. And when you’re doing that strategy, it’s a time taker. It takes a lot of my time, there’s a lot of driving a lot back and forth with sellers and buyers.

The reality of it is I was doing one strategy and I needed to diversify my exit strategies and use other exit strategies.”

“So right now I got licensed in the state of Texas. You can’t broker any deals if you’re not licensed. So now I can broker deals. I also do fix and flips. And I own a portfolio of about five mobile homes right now, currently, that I get passive income on.

If I want to take a month off from just being in the field I know I still got that passive income coming in from the mobile homes I own.”
“I started scaling after that.”

Perception #3

Coach Charity says she was also anxious about meeting people who wouldn’t take her seriously. She means men specifically, but we’ve found it happens between everyone.

So the key to building rapport with people is to explain what it is you do and how you can help them. But also show the confidence that you will find other opportunities and you are willing to walk away if you’re not being treated right.

”In reality, I have found that people do seem to trust me, especially when I come to them and show that I’m knowledgeable about the home.

And I even educate them sometimes about mobile homes. Especially if they give me the year of their home I can tell them some things to look at and look out for. So they trust me a little bit more because I let them know I know what I’m talking about.

And then, with me having a nursing background, I also know how to hit people’s pain points and solve their problems. So that breaks that barrier down so they can open up a little bit more too to me.“

“But then again one time I was dealing with someone who was really trying to low ball me on the price.

And so we was going back and forth and he made the comment or the statement, like ‘I’m not going to have a standup pissing test with you.’ And I was like, ‘Okay, that’s cool. ‘Cause I don’t piss standing up.’

I said, ‘If you still want to have a deal. We can still talk. That’s fine. If not, we can move on.’

So it’s just like little snide remarks like that. They try to see what reaction they can get out of you and how professional you will be. If you just keep your cool and let them know that you know what you’re doing, you should be fine.”

Perception #4

Coach Jason thought he could handle everything on his own because that’s how he got started in mobile home investing. But he realised that if he wanted to scale and create his vision then he’s going to have to learn to delegate to other people.

”So coming in my perception was I can do all this by myself because really coming in I was able to do these deals with just the knowledge I learned from the TCA community.

I taught myself and I wasn’t in the Accelerator Program until much later. So I didn’t have the access that a lot of people have with the coaching calls and stuff. But since I got myself going pretty well I thought that I didn’t need any help, but that was my solopreneur mindset.

And the thing with that is I was barely at home. And that’s the reality of it, right? The reality is that there’s no time. I needed to quickly scale the business and the only way to scale your businesses is to have people on your team. Being a solopreneur is only going to get you so far.

The first thing I did was I hired a Virtual Assistant about 2 or 3 months ago and she saved me a lot of time. She does my messages on my Facebook. She runs my business page on Facebook. She does the contracts, she does text blast, and she is my CRM.

Before, I was doing all of that stuff. And it was just running me ragged. So that was a big part of learning to start to scale.

And now I can focus more, not only on my family, but I can also focus more on other parts of my business that’s gonna really make it grow. Like marketing and things of that nature.

I also work with 3 other investors now where we have a little partnership for doing deals around the city.

Not only does that help me from running around so much. It also helps them because I’m an open book to them. And they’re able to go out, get that confidence and close deals themselves.

And there’s a monetary value there for them as well. But I tell them that the value is in the teaching, that I’m gonna be able to give them. So with them and the VA everything has been pretty good.”

When it comes to delegating, someone in the chat wanted to know what qualities the Coaches look for in other investors or junior investors.

Coach Jason likes to work with TCA members because he can trust and verify that they’re locked in and engaged with the course and what not. He also likes working with people who are good at talking to other people or are trying to master their craft.

Coach Charity is open to working with people who aren’t even in the TCA family.

”And so if you’re someone who’s not in the TCA community I would like to at least see that you have some kind of knowledge already and done some research. And I’d want to make sure that your motivation and your mindset is right.

I like to help those that are action takers. Because if it’s a home they need to be seeing, then they need to go ahead and do it. No procrastination.

And I also made sure that whoever I’m working with has similar core values as me, and is not just focused on the money but actually servicing the community and helping people.

If you’re in it just to take advantage of people and make some money off of them, then that’s not a good fit. So that’s what I look for.”

Want To Become a Successful Mobile Home Investor?

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