John Fedro is the Host of the Mobile Home Investing Lessons podcast and known as an expert in the mobile home space.
John is also the owner of MobileHomeInvesting.net which I have found to be a great resource and learning tool to get started in mobile home investing.
Prior to recording this episode Tyler Sheff discovered that John Fedro is a student of the great Larry Harbolt. During this episodes, we discuss the basics of mobile home investing along with the stigmas that are attached to them.
Your host was blown away while talking to John about this niche investment space, little did he know there was such little competition. People generally fear what they don’t understand, mobile home investing is no different.
When considering a niche area of investing, perhaps the less saturated areas are worth paying attention to.
Mobile home parks seem to carry less of a stigma and are generally found to be more attractive by the general investing community. John feels much of this comes from the media attention that park investing brings. Many national publications such as the NY Times, Huffington Post, ect tend to draw additional attention to the park niche.
John feels that taking the time to first own a few homes in a park helps the investor gain that experience to move into the park investing space. A big part of the investment is the culture, and it is important for the investor to adapt to that culture by learning the customer they intend on serving.
When reselling a mobile home in a park, John Fedro recommends collecting the lot rent from the buyer to be sure that lot rent gets paid on time. Speaking of time, when dealing with homes in parks, time is of the essence….that lot rent needs to be paid on time with no excuses.
When dealing with traditional homes, there are buyer’s markets and seller’s markets. In the mobile home space that is not always true. More often than not, the mobile home space remains a Buyer’s market because most sellers are looking for cash buyers due to it being tough to finance mobile homes.
To learn more about John’s niche marketplace, head on over to MobileHomeInvesting.net
Have you joined our facebook group yet? If not head over to CashFlowGuys.com/Group
Ready to take your investing to the next level but need help getting there? Spend 30 minutes on the phone getting “un stuck” with Tyler by visiting CashFlowGuys.com/asktyler