“I’ve just been trying to stay consistent. Sometimes, while working a full-time job and trying to do this too, you don’t listen to your mind and you burn yourself out, but you pick it back up after a week. So far I’ve managed to profit $15,000 off of a handful of deals. It’s easier than having to work my butt off 40 hours a week. So I’m hoping this will take off eventually and I’ve enjoyed it so far.”
We share a lot of case studies about students of ours making big bucks doing mobile home investing full-time. But what about the part-timers?
The truth is mobile home investing works great as a side-hustle. All you need is five to 10 hours per week to run your business.
Here’s a great example of one of our students, Chris, who made $15,000 in profits during his first three months after joining our program.
Monetization Strategies For a Part-Time Mobile Home Investor
“I was hoping to mainly get the buy-and–holds. Right now I’ve got one fix-and-flip. Looking back, I shouldn’t have bought it, but I was itching for one to do. Either way, I’ll have to wait a while to get my money back, but it’ll be alright, I’ll still make a profit… But it’s mainly just been wholesale and brokering. So just being, like a real estate agent for mobile homes. And then also, whenever you realize that there’s some room on a deal, you can make more than a thousand, $2,000, 3,000 profit and you can make a bigger wholesale deal. That’s been the gist of it.”
When you’re working part-time you have to pick your deals carefully. Since you won’t have as many opportunities in terms of deal volume coming through your pipeline, being able to get in and get out fast is a priority.
So, wholesale and broker deals are perfect. Or, as Chris said, you can find deals where you buy and hold to generate passive income. The key is to keep your cash moving and building momentum.
The “Make Things Happen” Mindset
“I think just that first deal, jumping in and trying not to listen to the fear. Once you prove to yourself you can do something, you start thinking, ‘What else can I accomplish?’ I’ve got savings, I’ve got a house, I’ve got a great girlfriend, I’ve got a great family. It’s not like I’m in any kind of bad situation, but I know I can accomplish more.”
Chris used to have a different mindset. More passive, more complacent. He wasn’t as happy or fulfilled because he was just waiting for stuff to happen to him rather than making things happen.
“This is a lot more fun and really just comes down to figuring out what it is that you want.”
Mobile home investing helped him get out of a rut because he was able to figure out what he wants out of life and find something he enjoys doing.
And you gotta have fun with it. Because otherwise it starts to feel like a j-o-b and that’s not why anyone gets into mobile home investing.
It’s Like Having The Cheat Codes To A Video Game (That Makes You Money)
We asked Chris which parts of the Trailer Cash Accelerator program were most helpful to him.
“The education in-and-of-itself, the accountability, and even just the communication and having someone that you can go to and say, ‘Hey, I’m having this kind of problem.’ I think that made things a lot easier. It’s like cheat codes for a video game. It’s all right there, it’s a proven strategy. Don’t reinvent the wheel. Just take what’s already there and already works. There are several people in the group that have been doing it for a while that I’ve gotten in contact with. And you can always find the answer to any kind of problem that you have. You just have to be willing to ask.”
In our program, it’s a team effort. It’s not every man for himself. We’re all a team, we all have the same goals, and we all support each other in achieving our goals.
How Easy Is It To Make Money With Mobile Homes?
“There have actually been two deals this week. Netted $7,000 total. One of them was a 2001. It had to be moved… But it was a great house. It needed zero work. And it was $6,000. That’s all that they were asking. I didn’t even negotiate. And some people would be like, ‘Why wouldn’t you negotiate more?’ I felt like that was a fair price. I want to get them that fair amount. Cause I knew I was going to make at least four or five grand off of it. I average about 2, 3, or 4 weeks on a house. So I’m either pricing it super low or it’s just moving really quick. And so, maybe I could get more for them, but I made five grand on it.
“The other home, it was an ‘83. He was just looking to get rid of it. He had been given the home. He only wanted $2,000. I sold it for $4,000 to a park up here in the area that I’ve started working with. They rent out the houses… I’ve got more, lots and places to put homes and I have homes. So that’s a problem I’ve got to solve.”
In our experience, the majority of deals are smooth with no issues. And they happen fast, in days or weeks, which is the best part about mobile home investing.
Not all deals are this easy. Some can get quite complicated, and you can definitely run into problems on deals. And it can sometimes take a while before you get your first deal.
In Chris’ case, nothing really happened for the first two months after he joined our program. But he didn’t let the initial lack of results stop him. He was persistent and it paid off. Deals started happening all at once.
Advice To People Interested In Mobile Home Investing
“You can make money off of these houses with minimal investment if anything. Why wouldn’t you give it a try? Dive into it feet first and just try and learn.”
And what are his goals for the future?
“Trying to get those buy-and-hold deals and do as many deals as I can. I should have a certain number in mind, but I’m really just trying to build that foundation of a monthly check coming in from the houses.
“So that’s the long-term goal. Trying to get enough to where I’ve got, at a minimum, what I have in salary coming in. So you’ve got that foundation. Then you can entertain the thought of, ‘All right, if I cut this amount of fat out of my budget every single month, I can do this full time.’
“And I think working in every aspect of this business, whether it’s buying homes and selling, rehabbing them, or even moving them. I think if you can have your foot in all those areas, you’re going to have a ton of business.”
Prioritize And Execute
Being ambitious, being entrepreneurs, it’s hard not to want to do everything. You have a vision in your mind and you want to run towards it, but you can definitely burn yourself out.
That’s exactly where we were at the beginning. We had to learn how to prioritize and really say,
“Okay, what is the most important thing that’s going to give us the most impact? That’s what we need to move forward next week.”
Not everything. Because if you try to do everything, you end up stressing yourself out, getting overwhelmed, and then you end up curled up in a ball because you’re burnt out.
When you’re able to focus on just one thing you get a better sense of confidence and a ton of momentum because you’ve moved the needle on that one thing in a big way. Trying to move 5, 6, 20 things forward all at once you just don’t feel confident because you’re simply not making enough progress.
Having the discipline to say to yourself,
“Once I finish this priority first, then I’ll get to this second priority, then the third, then the fourth.”
It expands your capacity and helps you be able to actually handle more things as you grow. We all have goals. We want to get there faster. But it’s a process. And that’s where you have to think about,
“How can I work smarter instead of harder? What can I do to make sure that I’m using less of my time, but still getting the most leverage? And how can I leverage other people’s time? How can I automate my business even more to protect my time and most importantly, protect my energy.”
That is the mindset of a hustler.
Want To Become a Successful Mobile Home Investor?
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