All Forum Posts by: Adrian Smude

Jack, I think you're wise to offer this out.  I'd add something to it so you can stand out.  When I wanted to learn to wholesale I went to someone successful and paid for all the marketing and did the work with his guidance and gave him 50%.  Find a way to offer value that makes the seasoned investor's ears perk up. :)

Welcome!  I enjoy the book but not their courses!  Find courses by people that make more money from doing deals than selling courses.  :)

I believe the shinny object time is important to find your niche, but it needs an end date.  Only you can make that date, but I suggest not making it too far out.  Pick a niche and stick with it for at least 6 months!  ACTION is the best thing you can do, you'll never know it all.  If you do know it all you'll be too scared to buy anything anyways.  Ask for help!  Follow successful people and copy what fits your personality.  I love to follow people on social media that give out good quality content and aren't just trying to upsell me.  I do the same on Facebook. 

If I would’ve stuck to my original plan and investments I wouldn’t known any mobile homes. I also do not believe I would have the financial success I have if I would’ve stuck to my original plan. I believe after a short period of shiny object it is best to find the niche that best fits your personality and goals and stay hyper focused for at least six months.

I am a cash flow only investor and that is what mobile homes do for me, but I can tell you we’ve had some appreciation even with our really old ones. I can also tell you we hit a number we feel is crazy and equity and my wife said “ it doesn’t feel like we have that type of money“ She is completely right because equity does not put food on the table or buy a plane ticket to travel!  

We have brought back to life mobile homes/trailers that most people thought was not possible. We have a pretty good return on our money on those.

I would think there’s someone out there that would buy this home in Lynn from you and make it their home by putting a lot of work and love to the place. Typically that person does not have all the cash so you could look into seller financing. Obviously you have to do your own due diligence to stay legal And run your numbers to make sure it works but I have seen this work many times in mini markets. 

Yes, there is a title to the mobile home just like a car. In Florida we can “retire“ hey title which attaches the property to the land legally through paperwork. The title company should know how to deal with this and structure it so that you get possession of the home itself. We have purchased properties where we Did not get the title to the home itself. We were comfortable because of the price we purchased at and the home was so old he cannot legally be moved. I recommend getting a bill of sale in case you were to have an issue. Good luck and I hope you have a profitable deal!

I’ll be there! 

CFRI is the big REIA in your area. If you decide to go more East check out GOREIA. If you decide to come to Polk County visit PCREIA (we are meeting on Zoom)

@James Courim Florida has many different markets within it. I suggest you narrow down what type of homes you want to own & rent out. Some helpful questions

What type of neighborhood do I want to own in?

Who do I want my idea tenant to be?

Do I care about appreciation or just want cash flow?

What price range?

Do I have friends or family close by?

Best of luck! 

You’ve already heard it’s worth doing if you do it right. I’ll add figure out what niche within Mobile Homes fits you best.  Do you want to buy just the mobile home and rent/sell on payments?  
do you want the buy the entire park?

Do you want to buy just a single home and the land and rent it out?

these all make money. “The riches are in the niches”