All Forum Posts by: Adrian Smude

Quote from @Lance Williams:

Hello, 

I am approved for a conventional loan with 3% down for up to $300,000. My goal is to replace my current income with cashflow from rental properties. In this situation, what would you do? How would you start?

Lance Williams

 Can you buy a single family house there for 300k? If so I’d buy one that you can turn a garage and/or living room into a bedroom and rent the place out by the bedroom. Make sure you’re at least breaking even so that you live for free. 

Quote from @Kyle Curtin:

Mooooornin’ BP! 

  I am currently focusing on multifamily in Lowell & Leominster, MA!

Where are you guys focusing on right now? 🤔

Have a kickass day!

-Kyle :)

Mobile Home with the land. Individual units. I am a bit bias because I became very successful in this niche, but here are a few of my reasons why now is a better time than ever!

Affordable housing!  If we are in a recession or when we get in one (whatever the serious these days) people will need to move down rent levels to afford living. This puts more demand/pressure on the affordable housing space which already has massive demand and a supply shortage. 

less competition!  Most investors are scared of mobile homes or don’t know about them. There isn’t a lot of education out there on the topic (shameless plug, this is one reason I started educating on the topic)

because of the above two they still produce a great return on investment. Most asset classes are so crowed people are bidding yield down. This hasn’t been happening in the mobile home space. Especially in the old mobile home space. 

Quote from @David Ramirez:

Central Florida fix and flip and wholesaling!! 

Wholesale me some Mobile Homes with the land! :-)

What are you in most need of in your business right now?  Maybe I know the answer, advice, or a person to connect you with that could be helpful. 

Quote from @Malik Sargent:

How or where can I find reliable and serious Cash Buyers?

Have a legitimate great deal and the cash buyers will find you when you market. I'd market at REIAs, Online, email lists (always be building this), IRA networking meetings, and signs on the side of the road to name a few. If you are wholesaling make sure you are doing it legally.
A real cash buyer should be able to close when the title search is completed, can send you a screen shot of proof of funds, and will sign a non-assignable and non-refundable EMD agreement with at least $3k as the EMD (I often put 5-10K down to show I'm serious).

Quote from @R. Elle Berry:

I’m very curious why investors prefer to work with wholesalers vs brokers/real estate agents. Especially if the wholesaler work with agents and have to split commission cost plus pay the wholesaler. Right now many deals are falling through the cracks because everyone has to be paid, but if you eliminate the middle man (wholesaler) the investor will receive a great property at the right cost and the seller(s) pay all commissions. Please make sense of this! And yes I am an Ohio Realtor.

I work with everyone that's doing good business. In my opinion, wholesaling done right is not finding a property on the MLS so in that case there is room for realtors and wholesales to both make money and both help a different set of people. Wholesaling done what I consider to be right is finding off-market properties directly with the seller and solving their real estate problem and then selling the rights to their contract (which they have the means to close on) to another investor.

Quote from @Shannon Cornell:

I believe PC REIA did start meeting back in person this month. @Adrian Smude Can you please confirm that for everyone? 

Yes!  PCREIA is starting to meet in person in February!!! 

Awesome, I'm submitting as a speaker! :)

I'll echo what others have said by attending REIAs, lunch & learns, FB groups, here on BP, meetup.com, business after-hours, chamber events, BNI, off-brand business networking, etc.  The key is to find the ones that you fit in well with and be consistent.  I have built both my businesses off of networking and being consistent.  It took me years of the above every week to be known as the "Mobile Home Guy" or "The guy always in a neon yellow shirt"  Don't give up.  

Bonus tip, when you are at these networking events make it all about the person you are talking to.  How can you add value to their life.  Genuinely be interested in their life.  

Quote from @David Lund:

Quote from @Adrian Smude:

I like the goals.  

I will finish my 2023 goals at the end of December when I go on a mini retreat in the woods to reflect.  But they will be along the lines of...
Investment business:  purchasing 4 more mobile homes with the land as rentals, super dial in our systems to utilize every team member in their unique genius zone, and consolidate some debt.

Education:  Create 1 new class, (most likely on the topic of private money), double my book sales, speak at 40 live events, and be a guest on 50 podcasts.

 I love the outreach goals as well as the real estate goals. It's a goal of mine before I die to write a book! What's the topic of your book? (If you're allowed to share on here. I'm unsure of the self promo rules.)

Thanks man! My book is a story of my journey while teaching how to buy mobile homes. I got fancy with the title and called it HOW TO BUY MOBILE HOMES lol Writing a book was always on my crazy goal list because I was not the brightest kid in school and I like to do what people don't think I'd ever do. I didn't realize how much I'd love the process and the outcome of my book. It's helped so many people and inspired people in and out of REI.
Write one one day.  About you, about what you're passionate about, and write it to help others like yourself.  :)