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Abstract
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Mobile Home Investing-
11 9 2010 10 57 58 PM1 Canadas Awesome Version of the Mobile
Home-
"long term wealth is quickest made by
doing small deals consistently"
Mobile Home
Canada's Awesome Version of the Mobile Home
I wanted to make sure you guys are up to date on your current mobile
home developments. Ours neighbors to the north have thought up a really
cool way to make mobile homes even more mobile. Canada based company
habitaflex produces homes that can be setup in as little as 2 hours. Or
so they say. I didn't see any pipes or electric being hooked up
anywhere? Whats up with that Canada, Aye?
.
.
I guess 8 foot wide mobile homes are making a comeback! not sure how
relative these homes are to our business but they look really cool to
camp in.
- John Fedro
No Responses | Add a Comment
Mobile Home Closings
11 19 2010 11 15 17 PM Mobile Home Closings
A common question I am asked is what steps are need to complete an
accurate closing on a mobile home on rented land inside a mobile home
park. The answer is surprisingly simple by real estate standards.
Mobile homes within parks may offer the single easiest form of real
estate acquisition for cash-flow seekers.
.
Concerning traditional site built homes a good rule of thumb is 30 days
for most closings that require a new mortgage to buy and a week or more
if purchasing `All cash.' Unlike most forms of traditional real estate
that require the chain of title be meticulously checked for correct
ownership prior to closing; free and clear mobile homes within mobile
home parks can forgo this cost/time and can close within minutes.
.
Most mobile homes bought and sold inside of mobile home parks are done
utilizing cash money or owner financing. That is to say when you are
planning to purchase a pre-owned mobile home in a park, you are most
likely paying cash or arranging owner financing to purchase this home.
In addition you will notice that many of the mobile homes you visit
inside a park will be free and clear, without a mortgage or lien on the
home. It is for these simple reasons that the closing process for
mobile homes located within mobile home parks can be completed within
minutes.
.
1. Clear Title: Does seller have clear title to sell home? If the
mobile home is free and clear of any liens or encumbrances the sellers
will have the original mobile home title in their possession unless
your state uses SOL and a Title is not needed to show ownership. Look
closely at the title and confirm the seller is who they say they are.
.
If there is a "Lien" section on the title make sure there are no
existing liens. If this lien section is blank, the title is ready for
signing by both the buyers and sellers. Print and sign clearly.
.
2. Bill of Sale: A bill of sale is the simple mans version of a HUD-1
closing statement. A bill of sale describes the terms of the sale? How
much was paid today? If there will be any liens for the purchaser? If
the home is warranted? Which fixtures/appliances are included in
purchase of the home? The Bill of Sale also includes mobile home year,
vehicle registration number, and make of home.
.
3. Promissory Note: This form is optional and is to specify in detail
the payment instructions and seller financed amount and terms. This
form is only created if you are purchasing a mobile home via owner
financing.
.
4. Location: If you are paying `All cash' for your mobile home
investment property you may close anywhere which is most convenient for
you and your seller. However if you utilizing owner financing to buy I
always recommend you close at a title company or law office, even
though it is not necessary to do so. There are two main reasons for
this title office closing when planning to make payments to the sellers
in exchange for their home: 1. You will be able to use the title
company's or attorney's notary services if needed. 2. A closing inside
a title company or closing attorney's office portrays a professional
closing by a professional real estate investing company.
.
If you have never looked at mobile homes for investment purposes, look
here. The opportunity and need for affordable housing and ease of use
has never been greater.
.
Happy investing,
.
- John Fedro
2 Responses | Add a Comment
1 | Nate in Tx No Gravatar
November 23rd, 2010 at 8:41 pm
Hi John, Do I need titles in Tx? If the seller doesn't have one what
should someone do to still purchase the home? - Nate
2 | John No Gravatar
November 23rd, 2010 at 9:17 pm
Hey Nate, Nope. Since 03 titles have been replaced with SOLs. A
physical title is no longer needed in hand. Depending on how you will
be transferring ownership you may need to apply for different forms.
Easy as pie! here's a link to see more about Tx's SOL procedures. --
John
bit.ly/hYbFSF
Cash Is King!
11 10 2010 8 22 36 PM Cash Is King!-
Happy Hump-Day,
Well first let me give you an update; I have to tell you this. Of all
the mobile homes I have bought and sold over the years very few of
these mobiles have been sold solely via owner financing. Here's the
deal. When we structure these Notes or Options we are typically making
the payment terms for 10, 15, and 30 years. (Times 12 payments a year!)
.
So not only am I able to collect payments for years but the mobile home
tenant-buyers rarely spend the entire Note cycle in the home. They
move out and I raise the price and monthly cash-flow and sell the home
again. I think that's pretty cool! icon smile Cash Is King!
.
But this isn't sad, quite the opposite. The Zacharas Family are great
buyers. They have paid on-time for over the past 6 years and now only
have 5 months to go. I would say I made my money back and then some.
(Originally purchasing the home for $17,000. Sold for $53,000 over 6.9
years)
.
I bought this home using ALL CASH! But it wasn't my cash and I didn't
borrow it? I'll show you how
I'm making a video right now that will teach you how to do just that.
(It's #2 in a 3 part eye-opening view of our business) If you are
already signed up with MobileHomeInvesting you have already gotten
the link. If you have not SIGN UP NOW FOR FREE
.
Learn to attract money for FREE and become a better mobile home
investor. CLICK BELOW:
Courses Suck Video
.
The above video is completely hype free... there's enough bullsh** out
there without me adding to it don't you agree! Be talking with you
soon
.
Enjoy,
- John Fedro
2 Responses | Add a Comment
1 | Bob Copshire No Gravatar
November 12th, 2010 at 7:42 pm
Just watched the video. Good stuff. interested to hear the next one.
Im pretty green can you tell me is it helpful to work with Realtors
with mobile homes?
Bob
2 | John No Gravatar
November 15th, 2010 at 6:51 am
Hey Bob,
Ya Realtors are great sources for leads when buying and selling. Plus
if you can't buy a home you can always throw your Realtor friend a bone
and get a kickback :)
Thanks for reading, John
Whats Keeping You From Making a FT Living with Real Estate?
mobile home detour 300x300 Whats Keeping You From Making a FT Living
with Real Estate?-
Hey all,
Well it's almost here! Most people ask me, "How can I get started real
estate investing" OR "How to get started mobile home investing in
today's market?" What techniques am I using to find, fund, fix, hold,
and resell mobile homes? I'll be honest with you. Since I have began
my mobile home investing business - much hasn't changed about how
investors make money; find deals, acquiring them, and selling them for
a handsome profit. This same buy low and sell high idea has been
around for... um forever! But that is where the similarities end.
Here's what I mean:
A.) Modern technology allows us to capture leads 24/7
B.) A-B Testing has allowed for the creation of a "Perpetual Buying
Funnel" (More to come in future videos)
C.) Automated Selling funnel keep your arms reach away from buyers at
all times.
D.) New buying techniques: Subject 3, Subject 4, Back to Back L/O, plus
many more!
Anyone reading this article can go out pick up a copy of Lonnie
Scrugg's $20 (or less if you buy it used), read and digest the whole
thing and still never make any money with mobile homes. But guess
what? It's not the book's fault, in fact Lonnie's book Deal on Wheels
is probably the most read and quoted mobile home book of all time, and
rightfully so it's great! But then why do so many investors end up
never making a dime in real estate or even pulling the trigger on their
first deal?
Two Reasons - Do you agree?
#1. Your First 30 Days are Killer: So much happens in your first 30
days real estate investing; way before you even look for your first
deal. The first 30 days can literally make or break your business. I
don't say this because you will miss out on so slam dunk deal that will
net you $1,000,000 buck over night or that I am trying to scare you
into my way of thinking... Why your first 30 days are crucial? = In
your first 30 days you will instill your core beliefs; daily thoughts,
daily actions, and daily routines. Did you hear what I just said,
"Daily Actions."
"SECRET OF UNTOLD WEALTH = Success is rarely the result of any single
big activity, but commonly acquired by many small repetitive,
repetitive activities done consistently and diligently. If you are
not working your business every single day for the first 30 days you
are severely behind the 8-ball my friend."
Question: "Create a dominating presence in your local mobile home
market that constanly feeds you with seller's leads and buyer's leads
daily without consuming your personal time," is this your goal? This is
100% POSSIBLE but it won't come without work. But how can a new or
seasoned investor that has had only minimal success investing
completely revamp their mobile home careers to close deal after deal
after deal on a regular basis.
#2. Success is Duplicatable: If you have ever been to a
Wendy's Restaurant you know that the double cheddar bacon burgers taste
relarively the same all around the world, the price may vary but
the service and quality is relatively the same; the marketing and
advertising is relatively the same around the globe too
(different languages of course). The mobile home business is the exact
same why. Success is predictable. Investing is predictable and
scalable when you have a system.
To help everyone from the greenest of newbies to seasoned
investors spinning their wheels listen up. Make sure you are
registered with your name and email on this site. On Nov 8th we will
be giving away a 30 Day Action Taker's Calendar!
- John Fedro
2 Responses | Add a Comment
1 | Nick B No Gravatar
November 2nd, 2010 at 8:10 pm
Hi John,
Longtime reader, first time commenter. What is a subject 4? Is it like
a subject 2? Is this technique used for buying or selling real estate?
Thanks in advance, Nick B
2 | John No Gravatar
November 2nd, 2010 at 10:10 pm
Hey Nick,
The subject 3 and 4 are newer techniques for buying mobile homes
attached to land or traditional property. These techniques allows you
to actually get paid WHEN YOU BUY your investment mobile home. (pretty
cool I think) It's pretty ingenious and works like a charm in most
cases. This technique will not work with mobile homes inside
preexisiting parks. Full detailed instructions are available in the new
Mobile Home Mastery System coming mid Nov.
Thanks for reading and comment again!
John
Mobile Home Investing - Are Real Estate Fortunes in Your Future? Take this 1
Question Quiz
sidewalk flower Mobile Home Investing Are Real Estate Fortunes in Your
Future? Take this 1 Question Quiz-
Hi all, just a quick post today. I'm already running alil late for my
dinner date...
I have been away from the computer for almost a week now! I will be
returning email this week for everyone who has been trying to get ahold
of me; thank you for your patience. I haven't spent this much time
offline in... well I can't really remember. This past week I spent with
a small group of new investors, myself, and a few other investors (from
other niches) talk about real estate and mobile home investing.
During our last night we had a Q&A session for all the speakers. Most
of these questions where standard `procedural' type questions about the
real estate investing business, a handful of marketing, and to my
surprise only one on theory.
Here it was,
"Is real estate investing for everyone?" (simply meant, Can just anyone
make money with real estate?) The answer to most questions in life is,
"IT DEPENDS." One of my favorite mentors would always say that, "it
depends;" and in most cases questions always need additional details to
be answered correctly.
For example (Is the person asking this question thinking):
I desperately desire, more than most things, the ability for my family
and I to be more secure in our finances day to day. I will take daily
actions to achieve my goal. I will pull the trigger when presented with
a great deal. I have the support of those around me and the fire inside
to win. I will ask suitable questions to help me further my education
and likeliness to succeed.
Or is the person asking this question thinking...
I would absolutely love to be more secure in my financial life. I will
learn what I can, and try to take action if not too difficult,
challenging, or it interferes with my other weekly plans.
The overall answer to the question above (Can real estate investing
work for anyone?) Is a resounding yes!!!, BUT... it will take mass
quantities of effort, patience, and action is 100% required.
Let's take the weight loss industry as an example. Is it possible to
lose weight with any one of the `systems' on late-night television? The
answer is YES, but it will take mass quantities of effort and self
disciple.
If this business was easy everyone would be buying, selling, and
holding real estate making 6 figures a year. The success of the student
is directly related to the mentor/education you follow and the actions
taken daily.
EXERCISE:
Sit in a quite area without distractions. Look deep within yourself and
ask yourself the following question before pursuing any potential `life
changing' venture. "Based on my past life choices and experiences I CAN
and I WILL commit myself 100% (for at least 60 days) to ______business
opportunity______ or will I most likely get excited about this
________business opportunity________ for a few weeks and allow my
internal fire to fade until the next opportunity comes along." (Circle
One) Yes or No
Real estate investing, mobile home investing, and more importantly
almost any other self-venture works 100% of the time if you never quit
no matter how many times you fall. DYK - Most millionaire
So how did you answer the above question? I would venture to guess that
if you are reading this article you have what it takes to stick through
the learning curve long enough to make money with real estate. If this
is the case look for my new Investing Calendar, a great new way to
learn mobile home investing with a schedule.
Great quote that relates perfectly to this article and life in general!
"The only real failure in life is the failure to try." - Anonymous
Here's Brian Tracy on the subject of Millionaires:
The fact is that most self-made millionaires are average people with
average educations working at average jobs and living in average
neighborhoods in average houses driving average cars. But they have
found out what other financially successful people do and they have
done the same thing over and over again until they got the same
results. It is no miracle and it is no accident. And when you think the
thoughts and do the things that self-made millionaires do, you will
begin to get the same results and benefits they do. It is all up to
you. - Brian Tracy
Comment and let us know your opinion! icon smile Mobile Home Investing
Are Real Estate Fortunes in Your Future? Take this 1 Question Quiz
- John Fedro
2 Responses | Add a Comment
1 | Susan Miller No Gravatar
October 20th, 2010 at 7:41 pm
John, I love your blog and I couldn't agree more with this post. By the
way when is your new Mobile Home Investing System coming out? We would
all love to know. Oh, and by the way "Yes, I do have what it will take
to succeed in the mobile home investing business." ;) Susan
2 | John No Gravatar
October 20th, 2010 at 11:38 pm
Hi Susan,
I love the fire in your message! Great to hear positive feed back like
yours. The mobile home business is for anyone with the burning desire
to make real estate work. The only thing that separates you from
failure is your ability to keep pushing forward until you succeed. Very
good comment!
Look for more information on Mobile Home Mastery Online 2.0 very soon.
I am super amped about this complete tutorial investing training. Its
the best thing I have seen in since Lonnie's books ages ago. Check it
out for yourself ;)
To get first dibs on watching 3 FREE videos that walk you through the
system click here and enter your emial address. I'll blast out a
message to everyone that signs up by Nov 1st. Click here to register
for FREE!
Mobile Home investing - 6 Steps to True Wealth
more than just money1 Mobile Home investing 6 Steps to True
Wealth- Hi everyone,
As most of you know we are now allowing others to join us in our Mobile
Home Investing "Inner Circle" weekly meetings held weekly. If you were
not able to register for the dollar ($1) promotion above it will be
available again soon. be on the look out soon for that!
During our last weekly review session I was speaking with one of our
members that told me she lost everything back in 2008, and since then
has been very resistant to begin real estate investing again. She was
looking into mobile homes because she thought they would be an easy way
to get back into the R/E game and out of her current employment.
This got our group talking about how safe the real estate market really
is. There are certainly factors like the economy that you simply
cannot control; but what factors in R/E that can you control.
Start taking control of your life:
Develop your skill as an investor; finding properties, attracting
sellers, putting together deals, hassle-free management, duplication,
automation.
1. Purchase housing that will always be work more than you purchased it
for. Buy low priced property that can sell for way more!
2. Surrounding yourself with other motivated and successful people that
are heading where you want to go!
3. Never sign personally for a mortgage loan for any of your
properties. Bank rates can always go up, and in fact they usually do.
4. Learn to structure winning deals that do not require bank financing
to buy.
This brings me to the main point of this article. Here's a question I
want you to ask yourself... If you lost everything today would you be
able to regain what you lost? How quickly would it take? Would you just
give up?
True Wealth is a Mindset
Time, education, and action are the only things keeping you from
monetary riches. However, True Wealth can be achieved much sooner.
True wealth is the ability to make money in any market, at any time.
Mobile home investing is something that once you learn, you will profit
your entire life. Once you achieve true wealth it is difficult to lose
it, almost impossible. Monetary wealth can be gone in an instant.
Here is what Napoleon Hill has to say from his book Think and Grow
Rich:
1. Fix in your mind the exact amount of money you desire. It is not
sufficient merely to say "I want plenty of money." Be definite as to
the amount.
2. Determine exactly what you intend to give in return for the money
you desire.
3. Establish a definite date when you intend to possess the money you
desire.
4. Create a definite plan for carrying out your desire, and begin at
once, whether you are ready or not, to put this plan into action.
5. Write out a clear, concise statement of the amount of money you
intend to acquire, name the time limit for its acquisition, state what
you intend to give in return for the money, and describe clearly the
plan through which you intend to accumulate it.
6. Read your written statement aloud, twice daily, once just before
retiring at night, and once after arising in the morning.
If you truly believe you will achieve this goal and put the effort
forth to make it a reality you are truly wealthy... no one can take
this away from you.
UPCOMING POST: I recently walked through an investment mobile home for
sale. I video recorded my thoughts using my Flip camcorder. I will be
posting this video so that you may see what to look for and what to
avoid when mobile home investing.
Cheers,
- John
1 Response | Add a Comment
1 | Jack S. No Gravatar
October 22nd, 2010 at 12:23 am
Hey John, This is so true!
"Surrounding yourself with other motivated and successful people that
are heading where you want to go!"
100% right on. Im dealing with having to change my circle of friends
very soon. Thanks for support, Jack
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