Mobile Home Bootcamp. Day2

What's up, everybody? So we're wrapping up the mobile home investing bootcamp that I have for the children. I got these children out here because all of our children don't have, what, access to college or access to the military. So I want to show them, instead of jumping into the workforce, we also can be an entrepreneur. How many of you guys are planning to go to college?

My goal, essentially, I want to let.

You guys know about business credit. As a personal banker, my goal is your goal. If you don't believe that you're an asset, guess what. What you are Use a liability. It's either or. I'm so happy because the children are telling me that they learned a lot. So today we went to two homes.

If you do it fast, they'll. And cheat, they'll miss a lot of things.

This gave me an opportunity to see what I How entrepreneurship is credit and stuff, and just gave me the chance to see what I want to do. And now it's a definite yes. All right, y'. All. Good morning, everybody. So we're about to get started. I appreciate everybody coming back for day two with smiles on their faces. Yeah. So day two is important for you all to understand the life of entrepreneurship, the highs and the lows, what happens in real life. Yes, we do make money. Yes. Yes, we have families. But I can't lie and tell you that I've never had a bad deal. Oh, my gosh. I got one. I can tell you, right? But I want y' all to understand with being an entrepreneur is consistency. Cause guess what? If you don't go get a deal, guess what happened that month. You don't make no money. And during this time, I just want them to talk to you all about their experience in mobile home investing. I definitely want you all to ask questions. Without further ado, I just want y' all to get in the real about being an investor. The challenges you face. The highs, the lows, the expect expectations, save you money, manage your money. It's very. It's worth getting into, but you have to manage your money. You have to manage your time.

I guess, like, some of the. The highs and the lows. We've had some really good deals. Like, we've gotten deals, like, one of our best ones so far. We got three units for free, and we got three months of free lot rent. So that doesn't happen all the time, but, like, we went to a park, we built a relationship with them, and we got all three of those units. We paid the lot. We paid, like, 315 for the deposit, we got three months free lot rent, and then we just fixed it. So that was a good one. Some of the lows is, like, we got one deal, one time where we bought a bundle of six. So you have to know how to negotiate. I know I'm all over the place, but, like, follow along. You have to make sure you know how to negotiate, because when we negotiated the bundle of six, we got a really good deal. That was a high. The low side of that same one was we put all of our money into it. You have to know how to renovate on a budget.

So, yeah, my name is Aquila, and I've been doing this for about four years now. Like Nicole said, I had a job making six figures, and I saw that yesterday. All of you guys wanted to just make money. That was the ultimate goal, is to make money.

Right?

But with entrepreneurship, you have to have the mindset that it's not about making money. It's about your livelihood, but it's also about your drive, your professionalism, what you want to do as far as your subject matter. Helping families for us. Is our subject matter, correct?

Yeah.

We don't solve people's personal problems, but we are professional problem solvers. Correct. And so when you work and operate in that manner, all things will come.

To you in faith.

When you go to college. I pray all of you go to college as well. But we know how society is as far as the cost of school and the debt and stuff. This is a great opportunity to get out there and start a life.

I do want to say something real quick. If you do go to school, use your refund check to invest. Use your. Guess what I did. Use your refund check if you want.

To buy and hold if you want.

To hold s. Because you will need money. Don't buy no new shoes, new wardrobe can get rid of. No.

Use that check to buy you a mobile home. And I also say he went to college. I didn't. So I don't have a college degree. I have a real estate license, which is not required, but he has a college degree.

All right? So it's scenario time, y'. All. It's scenario time. I want y' all to think about this, and I'm gonna assign somebody to you to give you some help. And I need y' all to figure out how can you get this done. All right, so scenario. Okay, class. Great. Typical teacher. It doesn't work. Okay, the first scenario. The lot rent is $400. Just pay attention to my invisible ink. The lot rent is $400. $400 a month. The seller calls you off of your bandit sign. They are two months behind. Two months in the hole.

Right?

Two months. But hold. They have an eviction court date on Monday. They go to court on Monday. The seller wants to sell for $10,000. But homes in that area. Because you all have already checked your comps on looking on what? Craigslist, Facebook, Marketplace. Yes, yes, yes. You call some dealerships and you see a mobile home in her condition is only going for 8,000, but she's asking for $10,000. She needs the money to get a train ticket to go back home so she can also pack her stuff up asap. You spoke with the park manager and they stated the home can stay in the park. But before they approve anybody, you need to pay that two months lot rent. That's behind. How can you help this family?

So she's moving for an emotional reason. So she needs the train ticket and she needs the money to move. So sometimes you have to use that to your advantage. So why not offer her the money for the train ticket, Offer her the money to move, and we give a thousand dollars for the house. Her main goal is to move and to get the train ticket. So why are we throwing away $7,000? All she need to do is move. We paying for the train ticket. We paying for the move. We paying the backlot rent. Now we all in. For $2,500, we can use your other 55 that you had available to Ren.

Like go from anywhere for like three to five, maybe even 6,000 for her. So if they're going for 8,000, then you can still even make like a thousand. She said don't be too pretty. So although if it was like all four of us would be splitting money, we'd probably want to go but lower. But it was just one of us.

But you guys left two minutes.

You guys remember what I said. She's already behind a credit. She's getting evicted immediately. So to avoid court fees and everything else, what would you offer her? Because she's asking for 2,000 over the value of the home.

Okay.

We don't know the exact condition of the apartment because we haven't actually, like, we don't know the condition of the mobile homes. We haven't like gone and walked through it yet. And so we said kind of going on the low ball and assuming that there will be repairs that will need to be done to it, we said that we'd give her about $4,000.

Okay.

And then pay off the 800 as well for her deposit. And then even if we sold it for 7,000, we'd still make, what is that, $2,300. And it's a quick process because she came to us, so the only work required from us was the bandit sign. It's not like we were walking around in a mobile home putting a lot of time and effort into it. So it's just quick and easy, not being greedy. And that's if we like only did 4,000 and sold it for 7,000, which is below market price.

5,000. So what you're planning to do is give the seller a thousand dollars, 250 for her bus ticket, pay off the 800 to the park, but you're still going to sell it for eight and you're going to keep the remainder. So you're keeping around $6,000. If I hear you correctly, you're only giving her, taking care of her and all her debt, it's 2000. Correct. She was worried about getting home. Right. You didn't include any lunches in that price, didn't you? Okay, so keeping 2,000 and you're keeping six. All right, we got it between like. Okay, that's good to take a look at. Okay. All right. All right. And than obviously loves the camera. We're about to say happy birthday to the bus server. Happy birthday to you. Happy birthday to you. Happy birthday, miss Regina. Happy birthday to you. Out the property and just the mobile home. Yes, ma'. Am. There are times where we buy a mobile home that's on land and we, the owner asked for us to get the mobile home move. Okay, so what, how do you do that? What's the process with that? Typically we come out and take a look at it, see what your requirements are, meaning how quick you need us to get it moved. We let you know when the move date is. Of course, we have to schedule that with the mobile home mover and we move it off your land. It's in Gastonia, North Carolina. And I believe the home was made, manufactured in 1996. Double wide. It's 24 by 40. Okay. Do you have the title? Yeah, yeah, it's paid for. Yeah, I got it. Okay, so we got a 19963 bed, 2 bath. Need to move it as soon as possible. 5k is what you're asking. The roof is leaking a little bit and the floor is bad in the bathroom.

Yeah.

All right, I will reach out to him now and I'll have him call you. Okay, thank you so much. Thank you, Stacy. Have a good one. You too. Bye, bye, bye, bye. Awesome shows. Awesome sauce. Double wide mobile homes, y'. All, Listen, a double wide mobile home in the area that I'm in, you can easily resell them for 15,000 plus, depending on the condition. This is something that she wants to get off of her land very quickly. That's why she's like, hey, let me get. Let me sell this mobile home for 5,000. I don't live in the area that she's in. I'm about an hour away. But. But by building relationships with people, especially my students, I'm gonna send one of my students out there. We gonna JV this deal, which is joint venture, partnering together. Boom. And make some money off of it. Stay tuned. All right, y', all, first stop. I am bringing the students to this mobile home on private land. It is not a part of the mobile home park, but I knew the mobile home park owner owned it, and it was sitting here. So the first time, he was a little resistant. He was like, nah, I don't want to sell a mobile home. I'm gonna fix it up. Three months later, he was like, oh, yeah, I'm about to start rehab. I was like, okay, okay. Came back another two months later. I was like, did you start the rehab? He was like, you know, I just been thinking about selling it and just selling it to you so you can fix it. And here we are, guys. My three bedroom, 2B on a private parcel. I don't own the land, but I definitely own the mobile home. And this is going to be fantastic. I'm going to get it fixed up. It's going to be amazing. Stay tuned to see the the end results of this mobile home. It's going to be really nice. Ms. Regina got the curls for the birthday, huh? It might be. It might be roasted in here. Why? You scared? Yeah, you scared? And what's wrong with you? Do you not need a key to unlock the door at your house? But, you know, since you ahead and you just jumped me. Go ahead, mtv. Welcome to my cribs, everybody. Welcome to my crib. Come on. Doesn't it smell amazing? No. Smells like rats. Really?

Smell like money.

Smell like money. Tell her again, dj. Okay. Smell like money. This is what money smells like. Come on in, Come on in, Come on in. But this is how you save money. Again. My handyman, he's really good, but he likes to rip everything out. And I have to say swiper. No swiper. We're gonna save what we can save. Right, Brandon? Why is that? So we can earn more. There you go. So he wants to say, nicole, I'm replacing all these cabinets. And I say, no, no, no. You can replace this one because you see it slouched down you right. But it is nothing wrong with this cabinet. So paint it, Change the knobs. But we are keeping that. I'm looking at cost on this one by getting all the flooring done. As you all felt is a couple of soft spots. If you look behind Taekwond's leg, you see how that's. Let me pull this back because he too cute. You see how that's rotten? So he's gonna come in here and fix this wall. He's gonna cut this out, put some sheetrock right here, replace the installation. But like the windows, I'm gonna keep the windows. He's gonna seal around the windows on the outside. What he does, instead of buying me new shutters, he takes a two by fours, puts it around it, adds some protectant on it and makes it very pretty. I can't wait for y' all to see what he's working on now because he really brings the homes alive. So this is the bathroom. What would you all want to do? Take this out clean, safe and affordable. Guys, we're not taking this bathtub out. We're going to keep it in here and we're going to use the rust oleum bathroom kit and we're going to paint it. And it's paint for a bathroom so it won't peel. Can we rip it out? No, leave it painted. Can I rip this out? Sure. I let him have this. You can rip that out, but it is a shower back over here. Y' all good. Y' all making me nervous. Let's go. So typically on the outside of this mobile home, you see the skirting? The skirting looks a little beige. It was white when it was purchased. Would you all trade it? Trade it out? No. Why not? Because it looks fine like us, girl. It looks fine like us. So we're not. We not. We're not changing this out. We're going to keep this. I'm probably going to paint the most mobile home and get the debris off the top and cool seal it. The first step of fixing mobile home roofs is cool seal. Right. If the mobile home is not sagging in the inside. Did y' all see any sags in the inside? Right. So the roof is pretty good. However, we still want to put a cool seal. It's just a roof protectant. It's just a roof. Y' all have any more questions about the rehab?

How Much do you think you're gonna spend in just material alone?

So what? The price I just gave you was 9,000. At least three of that is gonna be on material.

And the rest of it's just you paying people that work on the house.

Yes. Okay, y'. All. So we saw that first mobile home, and you saw how it needed a lot of work. What were some things in there you would say you would repair? Mold. Won't. No mold in my house. The floors, the bathroom, kitchen counter. What's wrong with my bathroom? Everything. The lights. The lights. Like the. What was that chandelier thing? It was vintage. It was a vintage living room light. You didn't like it? Okay, okay, so change the lights. The bathroom. What else? The walls, the kitchen. Somebody said the carpet. Yeah. Okay, now I'm gonna let y' all walk into this. Welcome to my cribs, part two. Hello. Hello. It's not giving trailer. It's giving like, home.

Okay.

It's not giving trip. Gotta look at it, y'. All. Look at these floors, though. Look at this. Look at this, y'. All. When I rip it, y' all gotta be like, ooh, Ah. Okay, y' all ready? Y' all ready for these floors? Y' all ready for this? All right. How y' all like this trailer? Wake up, look good. The bathroom. She already said it. What? It don't look like it's not giving trailer vibes. It's not giving trailer vibes anymore. She likes the upgrades in here. So basically, they want to know, how do you find good work? How do you find good men that'll do a good job for you?

Basically, when we start to hire someone, the first thing, obviously, we have the experience and the business. Almost 20 years ago.

Yep.

I'm talking about for myself. Francisco is 15 and our partner is another five years. We have to check before. Okay, we see if they. They complement the quality we looked for. We can hire them.

You hire them. That's right. So you check their experience?

Yeah.

We bought them the wood for the back porch. Pay attention. Tuesday at 10am by 12pm he had texted me a picture and was like, the porch is done. I asked Chelsea, I said, didn't you just leave him? She said, maybe an hour or so ago, they had already finished the back porch. You gotta understand, quality is not always going to be cheap. Yes. So everybody give it up for Francisco Pedro. Bill, thank you so much. These are just. These are just high school kids, like I told you. And I just want to show them as a way to make money besides going to colleges, to. In the military. All right, thank you, guys. Thank you so much. Three, two, one, go. Oh, Savage. Over here. Oh, lose it. Oh, looks like this guy gave up already. He might do one. Oh, is it over? Is it over? Oh, he risked it all. He risked it all.

Learn how to make connections.

Learn teamwork. It's a.

It's a valuable asset to have when you're wholesaling mobile hunts and stuff like that.

We learned about handymen and how, like, hiring them and having. Making sure they have, like, quality over, like, trying to do it fast.

The second home we went to, we saw Francisco, who Nicole hired. He was a very kind man, very hard working. He had his crew with him. They painted the house, and they said it was gonna take four weeks, but they already have almost everything done. I decided to spend spring break learning about real estate because I know it's a good, like, backup to have, and you don't have to go, like, four, six years to college to get a good, steady job like real estate. All right, y', all, we're just ending up. Day two. I am so full. I'm so happy because the children are telling me that they learned a lot. They are appreciating it. Today we took them through a mobile home, so they actually got to see two of my rehabs. One before the progress actually got started. My guys are due to start that next week. And then I took them through one where, hey, they're in there working. We were able to speak with Bill, Francisco, Pedro, and they gave them insight on how to find great handymen to work on their projects, what to look for, how to vet them out, how to discuss price. Y', all. Day two was slam packed, and I can't wait for you all to see day three.