Even though COVID-19 is raging on and lockdowns are prevalent, there are ways where you can still keep your business active and get involved with mobile home investing.
Since COVID hit a lot of people have been asking if it’s still a good time to invest or if they can still bring value to the market.
And we had a mastermind meeting with our accelerator students, the students that are looking to push their business forward, even during this time. And we all just collaborated and brainstormed on different ways that we can add value and continue to make progress with our business during this time and still keep our distance from other people.
So in this blog post you’re going to learn about about how to be a mobile home investor and bring value from a distance in 11 different ways.
#1 Sending out handwritten letters
Handwritten letters present themselves as a genuine attempt at connecting to people. You don’t see handwritten letters a lot.
Some of our our students are actually hand writing letters to sellers, seeing where they’re at with selling their property. Even to park managers, to find out how they can bring value to their community or how they continue to work with the park manager.
And they have been going over very well, just because most people don’t take the time to actually hand write letters. There’s something about that personal touch that sellers feel.
A little secret that we use to make sure our open rates are as high as possible is we actually use FedEx envelopes. Everybody opens the FedEx envelope. When people see a FedEX envelope at their door they get the feeling that they should probably open it.
#2 Virtual walkthroughs
This is a great benefit to you and a great benefit to your buyer.
Basically, take a full video of the exterior and the interior of the property getting those different angles so that you can inspect the property and make sure everything looks good, but also then be able to share those videos with your potential buyers.
Some of our students are actually even going on FaceTime and Zoom with their sellers and doing virtual walkthroughs.
A video of the interior, the exterior, and the park as well. What does the park look like? What’s it like to drive in? What do the amenities look like in the park? And then what does the neighborhood look like around the park?
A lot of times they will still want to walk the property. But this just gives anybody that you’re communicating with a good view of what’s going on around it. And you can easily start sending that out to buyers or get partners on those deals.
#3 Interest Only payments
There’s a lot of people that have lost their jobs or have been furloughed, but they’re still looking for affordable housing. There’s going to be a lot of people out in the market looking to buy homes on payments.
One of our accelerator students came up with the idea that as long as they have the right individual in the right home, they’ll take Interest Only payments right now. And then, after 2 to 3 months, they can start the regular payments outside of the Interest Only.
That just gives your buyers more confidence. A lot of them may be a little bit afraid to get into a big investment right now. But giving them that security of just covering the interest for the next 30 days or 90 days or however much you want, really helps you sell that property.
We can be flexible with those payments to attract buyers. And to give them the confidence to take that next step and really work with you.
#4 Extensions on payments
This is for your tenant buyers, the people that have already purchased your property and are making payments to you. This is something that we’ve implemented in our business.
We told them that if they’ve have been laid off or lost their job, we’re going to give them an extension during this time to make sure that they can make those payments and catch up when things get better.
We’ve given our tenants a whole 60 days and we don’t want to force them to pay us, especially if they’re going through a lot of things.
A lot of individuals that we work with are on the fence. Many of them still have their job, but they’re on the fence about spending any money right now. Since they’ve been paying us on time all the way up to this point we want to do whatever we can to help them out as much as possible.
Being a little bit more lenient on those extensions can really help you build a good relationship and you can get things back on track once their financial situation improves.
#5 Find out from the park managers which
families are at risk
You can speak with different park managers to let you know who are their at-risk families ahead of time.
A lot of the park managers have been given phone calls or they know what families may need help during this time.
So you can reach out to the park managers to let them know you can bring value to them. Just say, ‘Hey, if you have at-risk families that may be facing eviction or are about to lose their property, contact us, we can help them.’
Provide solutions to them. So they don’t have to feel like they are going to lose everything. And you’re also adding value to the park manager by taking away some of that stress that they’re facing too.
You might not be able to get their exact contact information. You might just get their Lot number. So, you have to go a little bit further and maybe get a skip tracer to get their contact information.
#6 Create live events or presentations for
buyers and sellers
We thought this was a really cool idea. There’s a lot of people at home. There’s a lot of people still using their phones.
So you can create any type of value that you can present to groups of people. Talk about the benefits of owning a mobile home, talk about the benefits of working with you to sell a mobile home, or even create some unique groups specifically for buyers and sellers, or groups about moving homes.
This is a great way to get online and talk about the value that you’re going to present to the marketplace right now.
Live streams are so popular. They actually bump you up to the top of a lot of people’s feeds. So building those communities, building those groups and going live is huge. A lot of our students are doing that and they’re finding a lot of success with that.
#7 Create strategic relationships
We want to connect with other investors, other people that we can bring value to.
What do you have of value that you can bring to someone else? And what do you need that maybe someone else has? A connection or a resource. Something that they can provide to you.
When we got started we would go to all the real estate investor association meetings. And usually it was the “Have and Want” meetings that we would get involved in.
This is where you had something that you could present to the marketplace, and you also wanted something, or you needed something.
Figure out who those individuals are. Maybe it’s some other investors in your area. They might need a handyman or they might need a connect to appliances for the homes that they’re fixing up. Look for any way that you can create some strategic partnerships right now. This is the best time to do that.
Do not sleep on the idea of working with other people, and the value you can bring to them. This is how you scale your business.
Those individuals that you helped in this time are going to be the same people that are gonna help you in the future. You guys are going to be able to do some amazing things by thinking about who you can help, who you can reach out to and assist, because you’re going to need it in the future.
#8 Finding vacancies inside parks and finding
ways to fill them
You can easily do this by driving through communities. There’s a lot of them that have empty Lots and need homes in them.
Communicate your intention to the park manager by saying, ‘How can I fill those empty spaces or those empty vacancies and bring value to you?’ or ‘How can I find properties that we can move into the park?’
For this, we’re mainly talking about 4 and 5 star communities guys. If it is a 3 star, you want to see them at least bringing in newer homes.
We want to bring value to a park that’s on the up. Not a park that’s shifting towards just a 2 or a 1 star community. We want to bring value, but the park has to be bringing value in itself.
#9 Getting more knowledge
If you’re already on your journey with mobile home investing, this is the time that you can just improve.
Maybe look at other parks, maybe look at mobile homes on land, or improve your skill sets. How can you get better with your presentation skills? Maybe this is the time where you create tangible products that you can actually leave with your sellers.
We think this is the time to invest in yourself. There are many states out there that are looking at slowly opening back up. So we’re very optimistic about the future. It’s not going to change tomorrow, but we love the fact that at least the conversation about opening up is happening.
Focus on learning something that can actually produce dividends for you in the future. This is an industry that’s not going anywhere. Affordable housing is not going anywhere. This is a great time to learn and really get involved in what we’re doing.
#10 Building your buyers list
This is a time where people are going to need to move. There’s going to be a need for affordable housing.
So identify who your cash buyers are and who are the buyers that need payments. Think about how you can really bring them the kinds of properties they are looking for. Get clear on the price point that they’re willing to spend. Understand them more and build that bond with them.
This way when you’re out there looking for properties, you’re so much more confident about which buyers you can help and what price you can offer.
Even when you’re under lockdown you can still push your business forward and streamline your processes.
#11 Gift baskets
This is a little extra thing you can do.
If people are buying from you right now that’s a blessing. When people are still spending money right now in this economy, that’s huge. And a lot of people still are. A lot of people are still looking for affordable housing.
So, we were thinking about just doing gift basket for our buyers, like sending them necessities right now. We’re talking about toilet paper and masks and even gift cards. Things like that for their own family.
We’re always thinking about getting more and more clients so we’re keeping in mind the impression we leave on people. That impression we left on them is what they’ll share with other people.
When you’re building your brand, your reputation, and your credibility, just doing those little things help so much.
Want To Become a Successful Mobile Home Investor?
If this video and post have you interested in becoming a successful mobile home investor, you might want to check out our free case study.
It’s about a student of ours who made a $10,000 profit in 48 hours selling a used mobile home.
Click the button below and enter your regular details to get access.