All Forum Posts by: Matt Bonestroo

@Andreas Michaels I can help you with the infill of your mobile home park with used homes. Feel free to send me a message. 

@Patrick Kelley  It is possible, but not cost effective. 

What is the price difference? In Phoenix, there might be a 5,000-10,000 price difference between a family park vs. 55+ park mobile home. 

Moving Costs - To tear down a mobile home (removing awnings, splitting double wides, disconnecting utilities, etc), install hitch/axles, move to the new location, permitting/inspections.... you are looking at a 2 month process that will cost anywhere from $7500-15,000 (single vs. double). In addition, most mobile home parks have rules in their leases that state you will be responsible for site cleanup which could cost up to $4,000(removing concrete pads, leveling the lot, and grading). 

It would make more sense if you could find a freebie mobile home on private land & move it to a park. I can elaborate on some of the information if you have more questions. 

Do you have a website? I am a huge fan of Investor Carrot websites & they even have them for real estate agents (feel free to reach out if you have questions)... I would recommend becoming the "authority" in your market with a combination of SEO, PPC/Facebook Ads & social media marketing. The Carrot philosophy " there are a lot real estate experts that know their stuff, but authorities are experts that are found online."

Once you have a functioning website, you can start directing traffic to your website with PPC/Facebook Ads until your website is organically ranking in Google. Best of luck!

@Maya Patterson .... @Rachel H.& @Brenden Mitchum are correct. 

When I wholesale a mobile home, I will take a down payment equal to the assignment fee from the end buyer. I use a standard "offer to purchase" contract with a non-refundable down payment. This makes for an easier closing process. Make sure you know your state's laws on buying and selling mobile homes with/without a license. In Arizona, you need an escrow account in order to take a down payment. 

@Cameron James Harmon -- Yes, you might be able to find some sellers on Cragislist, Zillow and etc. However, you have to remember that 1000s of eyes have seen the same deals posted on those sites. 

If I were you, I would recommend your time and effort on finding off market deals with PPC, lead gen website or other methods. 

Please feel free to reach out if you have any questions!

Hey @Adam Barber -- Are you looking for information on investing in parks or individual trailers? 

The most popular book for mobile home investing is Deals on Wheels by Lonnie Scruggs; however, I think the book is pretty hard to find nowadays... You will probably be able to find a PDF somewhere.

Free resources online... Look through all of John Fedro's post in BP & his Youtube videos. Personally, I would recommend partnering up with a local investor in Nashville to learn all of the tricks by helping out. 

I am in the category of "getting more leads".... 

The main reason being that I have multiple sources for finding leads & deals. Personally, I would be following @Marc Winter advice on beefing up a website. The reason being, I have cut off all my hampster wheel marketing efforts (bandit signs & direct mail marketing) and I am still getting FREE leads because of the work I did upfront with my website. 

@Joe Cassandra & @Justin Campbell Do you guys have a lead generation website? There are a couple of different platforms ranging in price; however, I would personally recommend InvestorCarrot if you are serious about finding leads online. 

Feel free to reach out to me if you have any questions. I would be willing to give you some recommendations on how to get started. 

@Jeffrey Lazenby Good deal! I would still recommend working with an experienced investor for your first couple deals that knows your market. It sucks splitting profit, but the knowledge you will gain is priceless (how to sell, how to inspect, parks to stay away from and etc.). 

They will also be able to introduce you to a lot of the big players in your market - movers, good handyman, and etc. 

@Jeffrey Lazenby Mobile home investing does require some money up front in order to get started - $6,000-10,000 (purchase homes & pay lot rent); however, there are some strategies, such as wholesaling, that allow you to do deals with little to no capital. Personally, I would recommend going to Facebook to find other investors in your market that specialize in mobile home investing. Some investors in your market might welcome the help of a newbie... this will allow you to learn the ins and outs of investing while making some money on the side... 

 @Riley Bakos, @Jason Capers & @Jerryll Noorden ... 

Jerryll hit the nail right on the head... Anyone can make a website through WIX, Squarespace, or Wordpress for less than $200 a year with a little time and effort, but the ultimate goal is to get leads that convert to deals. Carrot websites are the best in the business for less than a $1000 a year (most people are going to spend that much on one direct mail campaign). 

With the Carrot website, you won't have to worry about doing on-page SEO or writing countless blog articles... their platform provides all of that stuff with your subscription. 

Feel free to reach out to me if you have any questions.