Jaron has been in our program for a little over 6 weeks and has done a couple deals already. On his first deal he got this home for $4500 and flipped it for $8,000 in 28 days. And on his second deal he went all in on this home for $2,500 and he’s set to close out the deal at $12,500.
That works out to about 400% plus ROI on his second deal at a $10,000 profit, plus the $3,500 profit on his first deal. And he’s only been in our program for 6 weeks.
Jaron started off with single family homes about 15 or 16 years ago. The real estate crash of 2008 hit him hard. After COVID hit he took a break from it and was doing some research. That’s how he found our YouTube channel.
What he liked about our niche is the low barrier for entry compared to multi-family homes and traditional real estate. Unlike traditional real-estate with mobile home investing you don’t need to save up for years just to start doing deals.
He told us his biggest win in this business so far has been just finding a program that works. There’s quite a few stories like this where students didn’t believe it at first but then their belief goes to a whole new level once they actually see the cash in front of them.
Another big win for him, he says, is the relationships he’s been able to build with park managers and other investors. One thing our students learn through the program is how being mindful of relationship building alone can increase the number of deals that come to you.
The big challenge that he’s had to overcome in this business is something we like to call Head Trash. These are issues that come up in our mindset whenever we start something new, or we try to do something and we don’t get results immediately.
Sometimes people don’t show up to appointments, you give out your card but no one calls back, or other obstacles show up. We advise everyone about how to clear out head trash.
It’s got a lot to do with consistency, time management and understanding that we must not compare our journey to anyone else’s. Just follow the blueprint consistently. And stay engaged with our Trailer Cash Community members for help.
So in this blog you’re going to find out the details behind those two deals Jaron closed as well as Jaron’s responses to some great questions from our YouTube chat room.
Jaron had an advanced problem to solve on
his first deal
Jaron ran into a few interesting problems on his first deal. This a great case study for anyone who is new to mobile home investing.
“Got the first deal under contract. And I was just excited about it and ready to get it on the market and be done with it. Because it was about an hour and fifteen minute drive from my house.
When I got into it, I was getting all my paperwork together. And I happened to call the state just to verify that I had all the things that I needed to send off. And when I called the state, they looked up the property and said, ‘Oh, wait a minute. This is not personal property. This is real property that is attached to the land.’
So when I bought it from the seller, apparently the mobile home was part of a package. There were 3 mobile homes and the land that were all part of one package. And so they were like, ‘You have to disconnect this mobile home from the land before you can treat it as personal property.’
And I was like, ‘Okay but I’ve never dealt with that.’ So they walked me through everything I needed to do.
I had to get a law firm or a title company to sever the title. So I got a lawyer to run the report for me, and then I had to get a habitability inspection to work through that, and there were some other forms to fill out. But I got it all done in about a week.
I learned a lot of lessons. I learned how to walk through that scenario and I’m more knowledgeable. I can advise people on it too like ‘Hey, if this is real property then this is what you got to do to make it personal.’”
Jaron is sharing a gem with us right here. We’ve come across this question as well in our kickoff sessions where people run into a home that’s affixed to a property and it needs to become un-affixed. We asked Jaron to break down the basic advice he’d give someone who finds a home like this.
”I would say start with the state. In my state they have a department specifically that does mobile home stuff. So get them on the phone and ask them. Exactly step-by-step what is the process?
So when she was even telling me about the habitability study, I had never heard of it. So I said, ‘I’m new to this thing. Can you tell me exactly what I need for the habitability study?’
So she said to make sure you have a fire extinguisher. Make sure you have working smoke detectors. Make sure all the windows can open and there’s no cracks. So she just told me everything the mobile home needed to have in order to pass the inspection. And I just went by the book.
Then finding a law firm or title company to assist was difficult. Because the county where this home was located was a small county and there were only a few title companies that worked with that county. And they just weren’t responsive when I called. So I had to actually reach out to a lawyer in another city.
I probably called 3 or 4 law firms and probably 5 or 6 title companies before I found somebody that would actually work with me. It costs 350 bucks to do it. And it took about a week.
It was a little bit frustrating, just trying to work through some stuff that I’d never worked with before. But I guess the one thing I would say to a new person is once you do it and you learn it, then you know it, and you’re much more knowledgeable. And what you’re paying for is basically buying a lesson that’ll help you in the long run.”
Jaron benefitted from working with our coaches on
On Jaron’s second deal he picked up the home for $1000 but he also put about $1500 into it before finally selling it for $12,500.
We asked Jaron to explain a bit more about the seller on this second deal and how Trailer Cash Academy coaches helped guide him through it.
”Basically the seller could no longer live with the home and needed to move away. And the initial phone call was, ‘Hey, how much is it going to cost us to get rid of this home?’
So at that point I knew this was interesting, but at the same time I really want to help them deal with this situation. Because they’re still paying Lot Rent and all these kinds of things. And the person was no longer living in the home.
So to make a long story short I had a coaching session with one of the coaches because I didn’t know how to approach it. And he said ‘This is what I would offer. And here’s how you can justify your offer.’ And so I did that.
The home had to be completely cleaned out. I wasn’t sure what kind of damage was in there, but I had an idea that it was in pretty good shape. I put $1500 in for painting, clearing out a ton of stuff in the home, and for some work on the HVAC. And that was also for running some test ads so I knew what I could get for the home.”
“I have a buyer I selected. They loved the house, loved the location. He’s going through park approval right now. So after this I’m going to call the park and see how that’s going. Soon as we hang up.
But so far people really like it. They love the location. It’s really the location of the park that people really like.
I haven’t taken an earnest deposit yet. They were wanting to give me cash. I had another guy that wanted to give me $12,000 cash on the spot, but I was like, man, you got to get park approved. And he didn’t have all the things needed for the park approvals. So I was like, ‘I don’t want to take your cash and then you don’t get approved.’”
That’s right. For anybody that’s dealing with a similar buyer, you want to be a little patient, and let them go through the approval process. The right person will go through that process and give you every penny you want for the home. As long as you’re marketing it at the right price.
Jaron worked closely with one of our coaches, Coach Gulley, on this deal. Coach Gulley lives in the same state as Jaron and so we like to get out students working with coaches who have experience and understand their local market.
When Jaron spoke with Coach Gulley about this deal he got advice on exactly what to do, how to structure the deals, and what price he could get for the homes based on his own experience in the market.
”And he was just encouraging me man. Like saying, ‘I would do it.’
Because at first I was a little nervous to pull the trigger on the first deal. But he was like, ‘Man, I would do it. I would do it. Just jump out there. I would do it.’
I was like let me just jump out here and see what happens. He’s been encouraging every step of the way.”
Best questions from the Live chat
How did you get over the fear of being new and green?
Some of our students have concerns about dealing with park managers. They say the park managers can sense when they’re new and this makes them nervous about getting out there and building rapport. We asked Jaron how he got over those concerns to get his first deal closed.
”Yeah. The way I view it is volume. I’m just looking for 1 or 2 to just at least hear me out and they might have an opportunity for me.
So even if I get rejected or if I feel rejected, the way I operate is like, my response is ‘I’ve got to work harder.’
And so then I’m like, ‘All right, I was about to go home, but let me go out to one more park. Let me drop off one more card.’ Because there might be a deal with that particular person.
So I’m not trying to win over every park manager. I’m just trying to get 1 or 2 that will work with me. And that’s the way I look at it.
Another thing I try to do is just, even if they don’t seem like they want to work with me, I do a follow up with them. I will send them an email, thanking them for the few minutes they gave me. And many of them don’t reply to the email. But I at least I stay at the top of their mind, even if they don’t give me much time.”
We like that mentality. It’s just a numbers game. Instead of focusing on the lack of knowledge that you have, instead of focusing on being so new, you’re like, ‘Hey, I’m just going to focus on how I can talk to my first 10 park managers.’ And then the next 10 after that.
All you need is 1 or 2 of those. You only need a handful of park managers in your contacts to bring you deals.
Some park managers only want to work with realtors. What should I do?
We would suggest that you try to build a relationship with them anyway and describe how you intend to offer value to them, and express your interest in helping them.
”Oh, absolutely. Absolutely.
One particular park manager was saying that she already had some investors that she worked with. And I just tried to differentiate myself from them.
So I said something like, ‘All right f you have any people in the park that pass away and their family is looking to sell the home, call me.’
The idea to say that came to me out of nowhere but it was just something that makes me different from these other investors who may be doing other things in the park.
I’m just trying to find a little niche that I can wiggle into. So she has to keep my name in my mind.”
Should I help another mobile home investor find a buyer and take a percentage?
One of our students asked for an opinion on his situation. It’s his first deal but it’s going to be a partnership with someone who wants help to flip a home. He will receive a percentage at the time of sale.
Let’s say it’s a vetted seller with a double-wide built in the late 80s, and it’s sitting in a 3 to 5 star community. Would Jarone spend time on this deal?
”Absolutely. There’s so many benefits to just getting out there and meeting people and working. Because if you work with them you’re going to meet more people, like buyers, and you’re just going to learn stuff in general.
So any kind of situation where you can make some money on it, especially early on, is like they’re basically paying for you to learn. For you to get the knowledge.
I’ll say this real quick. That same park manager that gave me my 2nd deal? She tried to give me my 3rd deal.
And if I would’ve been able to wholesale it, like I wanted to, I would have made $3,500.
But the seller lives out of state and he says ‘I don’t do anything online. You have to mail me the paperwork.’ I mailed him the paperwork and just before he got it, a family member of his already found him a buyer.
So he was like, ‘Hey, we’ve already been working together. I need your help to do the paperwork. I don’t have a printer. I’m not on the internet. Can you come with me when I sell it to make sure I’m filling out the paperwork right?’
And so I went, I showed up, I made a couple of calls to the state to help him work through a couple of the newer forms, like inheritance forms and some other stuff.
And he just paid me $350. He was like, ‘Man, I appreciate you helping me and working with me on the paperwork.’
And I learned two new forms in the state. And I basically got $350, just for 2 phone calls and a 30 minute meeting.”
So Jarone in this case was out there taking massive action and not being afraid to lose a few deals because he knows he can learn from them. And it led to him adding value to the life of this seller. The seller recognized that and made sure it was a win-win for everyone.
Mobile home investing is a people first type of business
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