Overcoming Your Mobile Home Investing Fears (Video)

Welcome back,

If you suffer from the rare genetic disorder known as Urbach–Wiethe you may likely experience no fear in your life. For the rest of us, we may feel fear and anxiety on a regular basis. As a full-time mobile home investor for over a decade, I would like to share my initial fears and story of overcoming with you.

Please enjoy the story below transforming me from a scared mobile home investor to a semi-scared mobile home investor.

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Step 1. Make the Decision: After finding and reading through three binders worth of real estate investing information (2002) featuring a popular infomercial real estate investor, I was hooked. I learned the very general concepts of wholesaling real estate, fast-turning properties, and lease options. My head was swimming with the possibilities of what the future would hold.

The real estate investing binders I was reading made very clear the hard work and daily effort real estate investing was to take. I promised my future self then and there I would make no excuses and do what it takes to get through my first few deals successfully.

Pro Tip: Make the committed decision to get through your first few deals. When you have made this decision one time you will never have to make it again. Moving forward you will do what it takes to become a successful investor without complaining.

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Step 2. Get Educated/Ask Questions: My education grew rapidly. Within weeks I was a part of three local real estate investor clubs. One of the local real estate clubs was hosted by a 20 year real estate investor veteran that offered his services to coach newer investors. I gathered what little money I had in my possession and paid for his investing course and daily phone access.

Pro Tip: Although I made the right decision with this old-timey investor coach, a prudent real estate investor like yourself will not rush into any investment or training programs until you understand which real estate niche(s) you would most like to pursue.

Step 3. Set a Date: You cannot learn forever. I remember asking myself, “When do I stop learning about different investing strategies and start advertising and making offers?” The solution was to pick a date-in-the-future and begin taking immediate and massive action starting then. I decided on a date 30 days into the future.

In the meantime I soaked up as much real estate knowledge and free information as I could. Please keep in mind I was still living at my mother’s home and did not know the definition of a Deed. How was real estate owned? What is an appraisal? I knew nothing… I chuckle to this day that my mentor must have gotten annoyed occasionally at my daily questions which always led to more and more questions.

mobile home fears

Step 4. Take Action/Stay Persistent: My start date came and I was eager to begin. While my finances were limited, I took massive action immediately. Over my first 90 days I knocked on 100’s of doors, mailed hundreds of letters, made offers with Realtors, and had no deals to show for it.

My first property, a mobile home in a park, came from a motivated seller who saw my bandit-sign in her neighbor’s trash can. The seller began to tell me about her four bedroom, two bathroom home on the side of a small lake. The home was in good condition with one small pipe leak somewhere in the home. She was asking $8,000 and was negotiable! Before long I quickly tell her I will be right over and hang up the phone.

Without the knowledge to ask if this property was a mobile home I was in the car and minutes from the property (Google Earth was not a thing yet). It was not until I drove past the mobile home park gates that I figured the home must be a mobile home. As I rounded the last turn my stomach butterflies turned into a punch to the gut. I pulled over and vomited on the side of the street. After wiping my mouth and looking at myself in the mirror I had a crucial decision to make, run home or push through to try and help someone 3 times my age… I made the appointment.

After a few hours of talking and soft negotiations we were at a price of $3000, payable as $300 today and nine additional monthly payments of $300. The reason for the payment-terms were due to my lack of any capital at the time. With only a call to the local plumber and a general cleaning this home resold with payments for over 10 times the purchase price paid.

Pro Tip: Have an experienced investor or group of seasoned investors to ask your real estate questions to and get real-time answers. Without my mentors and friends along the way I would have failed many more times.

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Step 5. Improve: It took me far too long to begin outsourcing the daily activities that did not have to be performed by me personally. These activities included certain marketing, advertising, making repairs, selling homes, collecting payments, and managing properties.

The education and friendship-making should never stop as well. None of us knows everything about real estate and we are all in need of more active and experienced investors. Along the way my attitude was/is to “test” different strategies and methods to see what works best and what fails. A real estate mentor of mine once said, “real estate investing is a smorgasbord, take what you like and leave what you don’t.”

Pro Tip: Aim to review your daily activities at the end of every week. Aim to recognize what produces results and what sucks-up your time and energy. Make appropriate changes.

In conclusion everyone’s journey is a bit different. However one similarity is consistent with all of the long-term and successful real estate investors you interact with, we were all scared and we all continually push through our fears. Focus on providing value to others and letting local sellers and buyers know who you are and how you can help.

I hope this article can relate in some way to your fears and apprehensions when it comes to pushing forward. If you feel something was missed from this article or you have any additional questions please never hesitate to comment below or reach out to me personally.

Love what you do daily,
John Fedro


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I Heart California… And Tombstone, And Roadtripping

Welcome back,

We’re back home!

Over 2,000 miles over the past 3+ weeks, so many delicious foods tried, many new fiends met, and hundreds of memories created. This trip has reminded me that “things” are just things, what matters in life are the memories we create and the people who we create them with.

Joshua tree

After leaving the Grand Canyon and almost not finding an open gas station in time we were on our way. 🙂

On the way to California and the Sequoia National Park we passed through the Mojave Desert. I pulled over and took a close up picture of this Joshua Tree. These spiky plants are some of the oldest living organisms on Earth. Many Joshua trees living to be hundreds of years old and some living for thousands of years.

sequoia park 1sequoia park 2

After 8 hours of driving past beautiful landscapes, huge wind-generators, wineries, and desert we made it to the “Land of Giants”. The first day we arrived at the Sequoia National Park we only saw average sized trees, this was due to our lower elevation. We spent the first night exploring within the first 20 miles of the entrance to the park. We later learned the great sequoia trees did not appear until some miles up the road.

When we finally reached the actual sequoia trees they did not appear here and there, they stood in a line like an army. It looked as if someone planted a giant brown living wall of trees. From this “wall of tree” line forward we were surrounded by immediate shade, quietness, and calm giant tree trunks. It was incredible and undescribable to feel that tiny.

Lombard Street7-29-2014 1-06-27 PM

After spending a night at the Sequoia Forrest we headed for San Francisco. The drive went by faster than expected as me and my partner-in-crime took random pit stops trying local foods and snacks we found along the way. After arriving in town I was immediately greeted with the famous SF Bay traffic. After an hour and twenty minutes in traffic I was greatly surprised to see we had made it atop of Lombard street. This street is known for its twists and turns in just one small section.

Pier 39 1Pier 39 2

Some standard sightseeing at the famous Pier 39. These seals would not stop barking and showing off for people. I couldn’t help but be amused and laughing right along side everyone else.

This is what working for yourself can mean. There is likely no good reason you can not be doing the same in 2 years or less; unless you’re dead or in jail you have the ability to make your business a reality. Ok, now off my soapbox and back to the sightseeing.

Tea Garden 1Tea Garden 2

San Francisco is amazing. Such rich and sorted history packed in such a small city. All the locals we met were amazing and super helpful to tourists. A couple whom we asked directions from walked us 2 miles down the street to lead us to the Japanese Tea Garden and Rose garden. We ended up all going in together and having a Japanese snack.

Coy PondRose garden

Did you know each rose has a unique smell? I never even thought of that question before today. Literally stopping to smell the roses was one of my favorite memories of this day.

Challenge: Take some time this week to stop and smell local flowers. If your area in currently cold or flowerless then do the next best thing, head to a grocery store and start smelling the fresh produce. It may sound odd or silly but if you can’t remember how a fresh plum or walnut smells like you should wake up your smell receptors and start exercising them today.

LA viewLa hills view

Can you believe this view we got when we arrived in Los Angels? Thanks to Airbnb.com and local owners Nate and Ben we were able to reserve and stay at a beautiful bungalow looking over the LA hills. We spent 2 nights at this amazing house enjoying the private pool and hot tub as much as possible. Classic sightseeing and nightly celebrating ensued. 🙂

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On the way back home we made a pit stop in Tombstone, AZ. The weather was hot, the streets were dusty, and it was everything I loved from the movie. Not much of its rough past, this tourist town now seems to cater to families and kids of all ages. After having lunch and seeing a gun fight at the O.K. Coral we were off. Our final destination on this road trip was home, Austin Texas.

Conclusion: An amazing time well spent with amazing friends. Everyday I was able to work a bit online helping folks nationwide invest in mobile homesand build wealth for themselves. With regards to my personal portfolio of properties everyone was still paying and happy when I returned. What a great business real estate investing can be that we may leave for 3 weeks and come back to a smoothly operating cash-flow business.

Love what you do daily,

John Fedro