Add Land to Your Existing Flipping Operation
Jack Butala: Add Land to Your Existing Flipping Operation. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack Butala:
Jack Butala here for land academy, welcome to our cash flow from land show. In this episode Jill and I talk about adding land to your existing flipping operation or really any property operation for that matter. Management or whatever you can dream up. Jill great show today as always we are going to to tell it like it is but before we get to it lets take a question from a caller.
Jill DeWit:
Okay Scott from St. Paul called in and asked there's a lot of discussion about flipping houses but what about mobile homes? Oh, I have something to say about this too actually. "I'm just starting out too on real estate but it makes sense or at least for a little guy like me because there's less million invested, the finished product sales for less than a house and there's always somebody looking for cheap living that can't or doesn't want to get a huge mortgage. Obviously I'm not talking about putting $100,000 into a mobile home but maybe $2,500 and selling it for $4,000. Has anyone got this advice, it would be great." Oh, my gosh I've something to share about this right now.
Jack Butala:
Go ahead. I too have a lot to say.
Jill DeWit:
Cool. I happened to go to a local REI meeting last night and this came up. There was a guy at the meeting stood up ... The beginning of the meeting they opened up with a little QA and it like a sharing point and it was called like my deals. Everybody stood up and shared some deals and this one guy stood up and said, he had been working with the seller for like 2 years ago, that he got from like a Google adds ... This is the funniest thing too is like I shut this down along time ago but this still came from it. Is like a Google adds paid cured search that he was testing a while back. Anyway it resulted in a guy that had a mobile home. It was here locally in Arizona that he wanted to sell but they couldn't agree on the price. They kind of parted ways and he was ... Whatever the guy was offering was like I don't know. Really, really like $2,500 or $4,000 it was really that low for this mobile home in a nice area.
Anyway the guy ended up calling him back weeks ago finally and just said, You know what, I'm giving it to you. I mean he literally said I'm giving it to you. I'm done kind of thing. The guy is like ... He was able to get it ... He was able to pay that I don't know $17 to transfer it not kidding. He negotiated with the mobile home park to give him a couple of months of free space rental because he's paying like $4,000 to fix it up to sell it for $10,000, that's he's goal. Everybody is thrilled because he said this is the eye sore of course in a mobile home park which is why they guy was walking away. This does happen and I think itʻs fantastic.
Jack Butala:
This is a huge business, I have a ton to say about this. I wonder if we should do a full show on it. Actually I know we should probably more than 1. One thing, there ... Every single person I know that's in a mobile home flipping business, or if they own mobile home parks, or anybody who's involved in this does extremely well. I've heard so many stories like the one that you've just told where there just ... It's very easy to buy them inexpensively. There is like limitless options. First of all, what you need to super remember about mobile homes, is that it's not real estate. It's personal property, it's the legal equivalent of you car. There's a lot of different rules that apply. A lot of complicated rules that apply to real estate, do not apply to ... It's personal property. Don't apply to personal property but there are some pretty se...