Over the next few posts we will be focusing on a different investment class within the rental property space – mobile homes. For the past two years I have toyed with the idea of buying a few of these properties merely due to the lower entry point. However, rather than attempt to explain how this investing model works in today’s market, I thought it would be best to have a seasoned investor talk to us about it first-hand.
That investor is John Fedro. John’s real estate career started with an old Ron LeGrand real estate investing course while in college, 
“How to Buy and Hold Real Estate”. It was his BIG life wake-up call. It inspired him to join a multitude of real estate invest clubs, read every course he could buy or borrow, and make over hundreds of offers on different homes.
It wasn’t until John met a seller, that was selling a manufactured home that he was able to purchase with equity and quickly turn for a $35,000 cash profit, that he knew mobile home investing was the best fit for his real estate career.
For the past 10 years, John Fedro has made his full-time income from his passive cash-flow investments. In 2007 he began helping local investors invest in mobile homes and has proceeded to help hundreds of new and seasoned investors follow in his foot-steps with the help of his online teaching and resources.
Today John is going to talk to us about the very basics of Mobile Home investing. READERS – these next several post are meant to be interactive, so please: ASK QUESTIONS and COMMENT on the bottom of the post. John will be addressing these items over the next several posts!
With that said, take it away John!
READERS – THOUGHTS, QUESTIONS, COMMENTS??
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John, that was awesome! I’ve heard bits and pieces over the years, but to see it all together in a video is great! Thanks!
Question: What techniques do you use to find these cheap mobile homes? Bandit signs, Craigslist, etc?
Thanks for the note Brandon.
John will be addressing all questions in the next post. Thank you again for taking the time to leave a comment. Feel free to post any more questions or thoughts as well.
AG
Hey Brandon,
Thanks for watching! The all-in-one video idea was what I was going for. People make r/e investing more complicated than it is… as you already know. Your question and ALL the ones below are common ones I am happy to divulge the answers to in my next installment here.
Best,
John
I would love to see the contracts! Can this be done in any State? Thanks!
Thanks for the note Greg – we’ll make sure John gets to this on his next post. I appreciate the comment.
AG
John,
A few questions for you:
1. Park issues – I’ve called a few “for sale” signs and many of the sellers tell me that the park won’t let me sub-lease the unit, I would have to live in it. Is that common?
2. What does the “ideal” mobile look like for one of your typical deals – age, double wide, bedrooms, etc?
3. Lot rent – some of the parks i’ve called have high rent. What percentage or dollar amount do you like to see in lot rent when considering a deal?