It’s more valuable than our coaching program or anything we teach. We’re talking about our mobile home investors community.
Why? Because so many partnerships, joint ventures, and deals happen between our members. Here’s a perfect example.
Coach Mark Anthony and our student Lee Love partnered up on a 32-home deal in a closed-down mobile home park. In 60 days they were able to sell 30 of these homes for a profit of over $70,000. And they did it during the lockdowns.
We talked to Mark and Lee about their experience. Hopefully you’ll get as many valuable insights as we did.
How To Build Trust In A Mobile Home Investor Community
“We both had a common goal. That’s all it took. We just thought let’s work together and find a way to make it happen. Rather collaborate and cooperate than compete.” – Coach Mark
“I reached out to Mark and he had Alex here (in Arizona,) so I said, ‘Let’s all split this because this is the only way it’s gonna work. I just don’t see any other way. I need your help, it has to happen this way. We got together and we agreed on that.
“I’ve been in traditional real estate and it’s really cutthroat. But I didn’t put any context or agreements with anybody. We were just like okay we’re going to sell this, make it happen, and split it.” – Lee Love
When Jay & Samera first launched Trailer Cash Academy we took a group of students out on walkthrough and showed them how to evaluate mobile homes. All of us took a photo. Every one of the students in that first cohort ended up doing deals with each other.
It doesn’t have to be cutthroat. There’s plenty of money out here to be made by everyone. And really, you do a lot more deals working together than working against each other.
Your Profits Grow With The Problems You Solve
“I was looking through some Facebook groups and this guy in Ohio said, ‘Hey, I have this many mobile homes in Arizona for $17,000.’ I was like, ‘Ooh, I better jump on that real quick.’ They wanted to sell because this mobile home park has been closed down for at least a year. And they’re going to put a $48 million apartment complex there. And we were the ones that took it over with the squatters and everything. So all the problems came with it too.” – Lee Love
What you see are the big numbers. 32 deals in 60 days. $70,000 in profit. What you don’t see are all the problems they had to overcome to sell these homes.
“All of these homes were fixed to the land. None of them were mobile homes anymore. So there were no one more titles except for one double-wide, which is the only one that was really worth anything. It was beautiful inside. We sold it for $20,000 with the move, due to timing, but it was easily a $40,000 home, and that was really the only one we wanted. And we’re like, I guess we’ll take the rest of them too, just to get that one.
“But all of them had liens on them and liens from different places. They’re only allowing a few people in the building at a time, and we had to get lien releases for all these and retitle them all and bring in the bills of sale. And after about a week or two of that, we finally got them all and got the homes sold.” – Coach Mark
But the paperwork was the least of their worries, because the mobile homes were in such bad shape. No ceilings, no walls, no counter-tops, and a lot of wear and tear. And during the clean-up one of their contractors hit a gas line that set some debris on fire and blew up. The fire department, police, and gas company had to show up to handle the situation.
How To Sell Run-Down Mobile Homes Fast
“It was mainly the price and the timing. I think coronavirus actually helped. Everybody wanted to find a way to get a house and move it out to Maricopa or Casa Granda and get out of the city. And that kind of created a sense of urgency. People who were thinking about it were taking immediate action. Since everything was shutting down, they were like, ‘I need to get my house out to my land out there ASAP before who knows what,’ zombies show up or something. And we just pick everything up (and move it.)” – Coach Mark
Besides the urgency created by the lockdowns, Mark had another trick up his sleeve. They offered to move the mobile homes for free. And with the logistics taken care of, this made the purchase a no-brainer for their motivated buyers.
“We sold them at a great price because we included the delivery for free. That was it. Free delivery. And the buyers were within a hundred miles, so that really did it. They were really paying for the delivery because there wasn’t that much house to buy.” – Coach Mark
“You guys teach about affordable housing and providing that to people that need it. And that’s what they really needed right now, too. That’s one of the main reasons why these people bought so quick, is because it was affordable housing. Especially out here in Phoenix, even during the coronavirus, housing was still expensive.” – Lee Love
$70,000 Profit With No Money Down
“We wholesaled it. So we didn’t really put any money down. We just took our wholesale commission. But once we got that wholesale commission for the first few deals we were able to pay for all of them.” – Coach Mark
The total value of the 32 mobile homes was ~$17,000. Mark and Lee were able to fund the purchase through wholesaling and using the commission to pay the remainder. And after selling the homes they were up to $90,000 in revenue. That’s a $70,000 profit.
“For people who don’t know Alex, Alex and I own a moving company together and our dealership. Me and him are partners. And we had a bunch of buyers, Lee brought buyers, there were multiple buyers. I think there were two bulk buyers that came in. You guys might know Alan, I think Allen bought four or five units. The rest of them were individual.” – Coach Mark
The Benefit Of Being In The Trailer Cash Accelerator Community
“I didn’t know anything about anything. Just listening to your guys’ videos, going back and forth through them. Really just going back to that beginner’s checklist too. I can’t tell you how much I was like, ‘Oh, let me check that list as I go through it and understand it.’ And also, Coach Mark gave me the hands-on training–you guys connected me with him–to make sure we get the deal done. ‘Cause I would’ve never got it done. There was no way I could have done it by myself if I wasn’t connected to you at all.” – Lee Love
Lee has a lot of experience in traditional real estate too. And he told us about the difference between traditional real estate and mobile home investing.
“Oh, man, the speed is very fast. It’s way faster than real estate. With real estate you’ve got to wait for title, you’ve gotta wait for escrow, and then you gotta do all kinds of different things. Here it was just go to MPD and cross title. I know we ran into a little bit more work because the guy didn’t have a title. But if he did have a title, it would have been even faster than this. And this deal was already fast enough as it was.” – Lee Love
Want To Become a Successful Mobile Home Investor?
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