In this episode of the Properties to Profit podcast, I dive deep into my experiences with mobile homes—an investment many real estate investors overlook. I share a recent deal involving a mobile home at 145 Bonner Ave in Newark, Ohio, where we turned a quick profit in under 60 days. I break down how we acquired the property, the challenges we faced, and the lessons learned along the way. From the unexpected issues during the VA inspection to the financial win despite lender fees, this episode highlights the pros and cons of investing in mobile homes, especially when considering factors like repair costs, mobile home park fees, and holding times.

You’ll also hear about why mobile homes can be a lucrative part of your investment portfolio, and I ask listeners: Would you consider investing in mobile homes? Tune in for key insights and to find out how this deal generated over $87,000 for my company.

Episode Highlights:

[0:00] - Introduction

[0:44] - Discussing the mobile home market and introducing a deal in Newark, Ohio.

[1:50] - Details of the property and the initial purchase price of $95,000.

[2:25] - Overcoming challenges with assigning the property and negotiating with a VA buyer.

[3:35] - The inspection process and repairs needed, including a new furnace.

[5:15] - Lessons from previous mobile home deals, including the risk of mobile home park fees.

[6:00] - Breaking down the $87,000 profit from this deal in under 60 days.

[6:54] - Considering whether mobile homes are a good investment—pros, cons, and potential profits.

If you enjoyed this episode, be sure to rate, review, and share the podcast! Follow me on social media for more real estate insights and updates. Keep turning properties into profits!

In this episode of the Properties to Profits podcast, I dive into the importance of being selective about who you take advice from on your real estate journey and beyond. So often, we find ourselves listening to people who don’t have the life, career, or financial freedom we aspire to achieve. I discuss why it’s crucial to seek guidance from those who are already where you want to be—whether it's in terms of wealth, lifestyle, or personal development.

I share personal experiences about paying for mentorship from those who have mastered areas of life I want to improve, like balancing business with family. Tune in to learn how to identify the right people to listen to and why this mindset shift can be a game changer for your success in real estate and life!

Episode Highlights:

[00:00] Introduction to the podcast and today's topic: the impact of who you listen to. [00:46] The problem with taking advice from people who don’t have what you want. [01:06] Seek mentors who have the success and lifestyle you aspire to achieve. [01:26] Personal example: Why I pay for a coach who excels in areas I want to improve. [02:00] Balancing relationships while setting boundaries for advice. [02:18] Reiterating the importance of aligning yourself with the right people. [02:36] Monday Mindset: Listen to those who have what you want. [02:53] Closing thoughts and a call to action to share and connect on social media.

Closing Remark:

Thanks for listening to this episode of the Properties to Profits podcast! If you found it valuable, please subscribe, share, and leave a review. Remember, your network determines your net worth—connect with those who inspire you to reach your highest potential. Until next time, keep turning properties into profits!

In this episode of the "Properties to Profits" podcast, I'm diving deep into the world of "subject to" real estate deals — a creative way to purchase properties without taking on a new loan or putting down significant cash. I'll break down how you can acquire properties by taking over the seller's existing mortgage, why this strategy can be a game-changer when the seller has a great interest rate, and how it can help you build equity and cash flow from day one.

I'll also share my personal experiences, including a recent deal where we bought a property with just $5,100 out of pocket and are set to generate monthly rental income immediately. You'll learn the risks and challenges involved, including why transparency with sellers is crucial and how to handle potential pitfalls like the lender calling the loan due. Whether you're new to real estate or looking to expand your portfolio, this episode will equip you with valuable insights into the "subject to" strategy!

Timeline Summary:

[00:00] - Introduction

[00:21] - Introduction to the episode and the "subject to" strategy.

[01:05] - What is a "subject to" deal, and how does it work in real estate?

[01:46] - Real-life example: Acquiring a $300,000 house with a $90,000 mortgage.

[02:25] - Recent "subject to" acquisition with $70,000 in equity and $400 monthly cash flow.

[03:27] - Finding and structuring "subject to" deals, including ethical considerations.

[04:44] - Key risks involved in "subject to" deals and how to mitigate them.

[05:55] - Opportunities in wholesaling "subject to" deals and a call to action for listeners.

Closing Remark:

If you found value in today’s episode, please subscribe, rate, and share the "Properties to Profits" podcast with others who might benefit. Let’s keep turning properties into profits together! Stay tuned for more insightful episodes, and don’t forget to follow me on social media for the latest updates and tips.