Transcript excerpt from a YouTube video explaining how an investor obtained a mobile home for free by adding value to the mobile home community (e.g., paying $100 to pressure-wash an abandoned, evicted unit) and stressing the importance of investing small amounts to enable larger returns. Emphasizes a value-add mindset toward park managers and communities rather than just taking value.
Chapters
So give me some of the profit margins on a flip. What's the lowest you've ever gotten? A mobile home for free. Free? Yeah. $0. What we do is we go inside a community, we see an old abandoned mobile home. What we do is we would pressure wash that mobile home for free. Now, I tell people it takes money to make money. If you a person and you're not willing to put up $100 to make $10,000, this may not be the industry for you. So we'll pay somebody $100 pressure wash the mobile home. But what happens is you add in value to the mobile home community. A lot of people, they like to take, but they never like to add. Tell my investors, don't be that person that's just going to come to the table and then just try to take what the park have to offer and then leave them high and dry. Don't actually add value. One day we saw a mobile home. It was one that I had my eye on. The person got evicted, it was dirty and everything else like that. And I paid a guy $100 to pressure wash the mobile home. Park manager came back, he was blowing away. Then I asked him, I said, hey, what.