How I got started in Mobile Home Investing.

Mobile home. Mommy. What's up, y'? All follow me into my office. So many of you want to know how I got started into mobile home investing and what was my experience with my first property. So let me break it down to you. Come on, have a seat. Let me tell you what happened. Honestly. I was trying to invest in traditional real estate. I bought this course for $2,000. I was excited, but the lady in the video was explaining to me how, you know, I had to borrow money, hard money lender, do this and do that. And I was at it for about three months, trying to connect with realtors and do everything that she advised me to do. But the problem was nobody was trying to work with me as a newbie investor. I didn't have any capital. I was stumbling over the phone. I got discouraged. But then I found out about mobile home investing and I said, you know what, I'm going to go forth and, and move forward. So I bought the course on mobile home investing and it was life changing and I got started. So the very first time, you know, getting ready to invest in mobile homes, I knew I didn't have any money because I had spent my last $2000 for my birthday on the other course. I went out and took out a $20,000 loan with Wells Fargo. So the reason I was comfortable with taking out this $20,000 loan was is because I asked the lady how much would my monthly payment be, and she said, $367. Now I was working at the school system full time as a school social worker, and I knew I could afford $367 because I knew how much money I had left over at the end of the month. So I said, worst case scenario, I would just have to, you know, things get too tight. I could pick up an extra job or something, end up becoming the cheerleading coach to pay it back. Bought this mobile home. Y' all was so excited. I bought my very first mobile home for 500. And I felt good because I knew I had $20,000. What my goal was with the $20,000, my goal was, I'm gonna flip four mobile homes at $5,000 a piece. @ least that's what she said. It didn't work out that way, so I took this twenty thousand dollar loan. I bought this mobile home for five hundred, y'. All. First thing I did wrong was I went to go look at the property at nighttime with my cell phone and the flashlight. Just walking through the mobile home. I'll take it. Like I'm excited. Didn't really Know how to negotiate, didn't know what I was doing. And I could see a lot of stuff in the mobile home. But it wasn't a big deal to me because I'm like, oh, I can get it cleaned out. Bought the mobile home. The mobile home had to be moved. I didn't even price quote for how much a move would be. The move at the time was like $2,500. I get the mobile home moved to the other part, and when it gets moved to the other part, I'm like, why is electricity not working? Silly rabbit. I was just assuming that the electricity was going to work because the mobile home was set up. I didn't pull any permits. I didn't get any information from the county to tell them I was pulling in the mobile home. That was the first another thing I did wrong. I just assume electricity and the water was supposed to turn on. Took no account until, you know, you need to hire an electrician, you need to hire a plumber. These are all just beginner mistakes that I made. My rehab cost y'. All. Before we can even talk about rehab, let's go back to how much trash was in that mobile home. I had over 90 bags of garbage in that mobile home. It had to be two or three dead cats and about 40 dead mice. It was disgusting. And the guy got to clean it out. He was just like, I can't believe you bought this. It was a two bedroom, two bath, early 1990s mobile homeless. But I was so excited for my first mobile home. I had also anticipated having this mobile home fixed and ready in 30 days. It won't 30. It was closer to 60. After we got the mobile home cleaned out, I got a rehab guy to come in. I ain't gonna mention how I almost got in a fight with a plumber because I had to hire another plumber because he lied about being licensed. Let's skip that story. Did you hear that? Breaking news. Another future mobile home investor just got denied by a park manager because they didn't know how to explain how they can assist the park. Does that resonate with you? Do you need assistance? Well, baby, don't be the next victim. Come join my school community. Not only do I give you park scripts. Oh, your girl goes live on the zoom call and calls the actual park so you can hear exactly what to say. Don't let this be you. I can help you for less than $2 a day. Now go ahead and continue watching the video and I'll see you in my school community. It. But finally I got it cleaned out, the electric going, the water going. I kept failing the permits because of the steps. I didn't know I had to have permits for the steps. Finally got everything situated. Now it's time to sell it. So all in that mobile home, I put $11,000 in. Now I'm devastated because remember, my budget was 5,000. Well, I spent $11,000. Now with that $11,000, I'm like, I gotta sell a finance it. That was the only strategy I knew. So seller finance rent to own means. Hey, give me $3,000 down, pay me monthly until you pay off the price. So I had it all in 11,000. I was trying to sell a finance it for $17,000. Nobody came to the open house. Oh, Lord. Do y' all know how devastated I was that nobody came to the open house? So I had to pivot, like, what am I going to do? Finally had another open house. Two people showed up. The first lady came. She wanted in the house for 30 seconds and she was like, no, thank you. Then the older gentleman came. The older gentleman came. He walked around the mobile home. He was like, oh my gosh, I love this mobile home. He walked over to the mobile home. He put his hand on the mobile home. I didn't know what he was doing. Well, he walked over to me and said, I just prayed for this. And the Lord told me, it's supposed to be mine. I said, okay, now this is in 2020, y' all in the midst of COVID He said, but I don't have the $3,000 you need down, but I can do more money a month. So I'm like, well, how much more could you do? At the time, I probably wanted maybe 900 down. I think he offered me something like $2,000 a month. You think? I said, no, come on now, y' all jumped on that quicker than the prostitute jump in the car. Okay. I was excited because I was losing money. So I thought because nobody was renting it out, that was another mistake I did wrong. I jumped on the first person that offered me a biscuit, and I shouldn't have done that. I didn't properly vet him out, and it was nothing wrong with him, but I didn't realize this was somebody's granddaddy. So this man had been on this earth for almost 80 years, right? And he was set in his ways, and he had only ever been in apartments. So I moved in someone who was used to being a renter, and I just made him a first time homeowner owner. So he wasn't used to the maintenance that came with it. Y' all know how terrible I told you that house was. So when he moved in, he ran into a lot of problems. And I'm like, well, this your house? This ain't my house. You boarded as is. So I kept going out there to fix the things that he asked me to fix. And with doing that a month in, I was like, you can't call me anymore. Any problems with the house, you gotta fix it. Go back to that rehab, y'. All. My due diligence. I didn't use proper material for the structure. I used particle board flooring. That's the worst flooring you can use in a mobile home. I didn't get the roof properly sealed off right. I made a lot of mistakes. So with that being said, maybe six months in, I remember he had already kept he. The last time he had called me, he had called me about the floor and how it was leak under the sink. And I'm like, that's your own problem. Like you got to contact the handyman. That's not my problem. That is the one repair that I wish I would have took because that cost me. Few months went by, he called, his wife called and they were fussing me out how terrible the floors were. So I decided to go by and visit the home. The floors were like a water bed. Like if you tapped it, it was just. It was. The floors just had ripples in it. So I decided, listen, I didn't know it was this bad. Yes, I will get it fixed. But he was like, I don't want to live here anymore. No problem. He decided to move out. I got the floors fixed and guess what that mobile home is today. I'll. I will always hold mobile home number one near and dear to my heart. Although I spent $11,000 in that mobile home and financed it to him for about 17, he ended up giving me me about $8,000, his total stay because it was a rent to own. And then after he moved out, I moved to the room rental strategy where now I rent those bedrooms out per person. Okay. And yes, I run this play inside of a mobile home park that I have an agreement with a park owner where I pay a few extra dollars a month. So now renting the rooms out, guess what I'm able to do now? I'm able to make more, more money. So I make almost a thousand dollars a month for each bedroom. So think about around eighteen hundred dollars a month for a two bedroom, two bath mobile home where typically two bed, two bath in my area right now is going for about 12 or $1300 a month. So although I failed and I fumbled in the beginning, I was like, what's that little. That little engine? That little. The little. The little train engine? I just kept going. I just kept going. That cartoon train we used to watch. You know what I'm talking about? Thomas the Train. I kept on pushing and moving like Thomas the Train and kept going and kept going. And here I am now making almost $2,000 a month off that same mobile home for 2020. So I have exceeded my goals of getting my money back. I didn't got my money back. Money back four, five, six times over, y'. All. So this is why I'm so glad I didn't give up. Even though I cried a lot, I almost fought a plumber. That deal was very challenging, but I'm glad I pushed through that first mobile home and turned into the mobile home mommy where I'm buying and selling these mobile homes. I'm glad I never looked back. Here it is five years later. I still suffer challenges in this industry. My biggest challenge, I would say, is typically the repair guys. I go through different repair guys because I'm running a lot of properties at one time. But I'm telling you, y', all, it has definitely been rewarding, and I wouldn't change it for anything. And I plan to go bigger and better in the next year. I hope you all start your mobile home investing journey and catch you in the next.