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Trailers are for hauling livestock People live in homes & beer!
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mobilehomemillionaire.com 3 NO!
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mobilehomemillionaire.com 4 Cash Cow!
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6 The “Median” American Income $44,684 - $3,723 / mo Net Worth $93,100
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From this…Dec. 1993 725 South Spring Street, Los Angeles, California
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mobilehomemillionaire.com 9 To this ……Jan. 1994 Agua Fria Road, Santa Fe, New Mexico
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mobilehomemillionaire.com 10 Secrets of a Mobile Home Millionaire What You Will Learn The Single Most Important Secret of Wealth Building Simple 5 Step System to MH Investing Why Mobile Homes? How To Create Great MH Paper How To Buy Right MH Park Magic for Wealth Creation
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mobilehomemillionaire.com 14 1.Buy 2.Sell 3.Recycle $ 4.Farm 5.Repeat
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mobilehomemillionaire.com 15 Why Mobile Homes?
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mobilehomemillionaire.com 16 Creating Great MH Paper Know Why Buyer’s Choose a MH Know Your Numbers Be Realistic Know Your Market Underwrite Your Buyer
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mobilehomemillionaire.com 17 Why Buyers Choose MH Not just throwing money away on rent Building Equity, when home paid off, only pay space rent, live cheap Can use as a step up the housing ladder More privacy: no one on top or below and no common walls More room for buyer and/or family Better Security for parking
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mobilehomemillionaire.com 18 Know Your Numbers What is 30% of Average Area Salary? What is Average Site Rent in Area? What does that leave for home pmt? Is site rent + Home Payment Competitive? How much $ Can be Amortized over 7-10 years at 15% (Loan Amount) When the minimum down payment is added to this, what would the home sales price be? Is this realistic based on market observation?
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mobilehomemillionaire.com 19 Know the Numbers and Set Sales Price Based on Income Average Salary is $30,000 / year 30 % is $9,000 or $750 per month for housing 2 BR Apartment Rental = $850 Average Site Rental = $350 Leaves $400 for home pmt How much will this amortize at 15% over 7 years? NIPMTPVFV 8415$400? $20,729-
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mobilehomemillionaire.com 20 If the Minimum Down payment is 10%, and the loan amount is $20,729, what was the sales price? $20,729 is 90% of what? $20,729 /.9 = $23,032 ($2303 Down) Is this a realistic Sales price and down payment based on market observations Know the Numbers and Set Sales Price Based on Income
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mobilehomemillionaire.com 21 Know Your Market How much can I pay for the home? Sales Price - Target Profit – Costs = Max Price Can I purchase the home to give me the kind of profit I desire? Are there potential Buyers? How do I find them?
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mobilehomemillionaire.com 22 Underwrite Your Buyer Economic Evaluation Proof of Identification Proof of Down Payment Proof of Income Employment Verification Landlord Verification Credit Verification Verifiable Payment History Pictures of the Collateral Complete Documentation of all Sales Paperwork
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mobilehomemillionaire.com 23 5 Year MH Business Plan
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mobilehomemillionaire.com 24 “Tails” Kick In 5 Year MH Business Plan
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mobilehomemillionaire.com 25 Cash Cow Ranch
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mobilehomemillionaire.com 26 Why Mobile Home Parks / Land Lease Communities? 1. Low Maintenance 2. Higher CA$H Flow 3. Stable Rent Roll 4. Barriers to Entry
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mobilehomemillionaire.com 33 1. Buy 2. Increase income 3. Decrease expenses 4. Refinance 5. Repeat
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mobilehomemillionaire.com 34 Village MH Community
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mobilehomemillionaire.com 35 Why We Do What We Do
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mobilehomemillionaire.com 39 Don’t Let Your Learning Lead to Knowledge. Let Your Learning Lead to Action! Jim Rohn
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mobilehomemillionaire.com 41 “Here’s my first MH deal Doug! Thanks for the great course on manufactured home investing, it’s very informative and has given me excellent guidance. I appreciate your course and your support.” Wendell Long Charlotte, NC Note: Land Lord expects a 2.5 to 3 year pay back of down pmt at $220 / mo cash flow on $30K purchase
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mobilehomemillionaire.com 42 “I did not know where to begin my investing strategy, Doug’s information was exactly what I needed!” Steven Chase Albuquerque, NM
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mobilehomemillionaire.com 43 “ Whether you are interested in a profitable sideline activity or in making some serious money, you really need to study with Doug. He’s a pro in his business and at teaching others. This information has helped me shave years off my learning curve. Terry Preuit President, Cash for Contracts Las Cruces, NM
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mobilehomemillionaire.com 44 “I’ve been a real estate investor for years. Doug opened up several ways to make money that I had not wanted to utilize before because I did not see the value. I now have a business plan to profit greatly with “paper”, and mobile homes seem much more appealing as an investment.” Thanks Doug! Barry E. Walters Albuquerque, NM
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