A question came to me from Miguel M.
“Can you help me basically get this MH sold before it’s even rehabbed? How should I go about this? Should I even get an agent or dealer even involved in case they bring me a qualified CASH buyer, I’ll pay them a predetermined flat fee? ”
(Answer to his question below)
I don’t have much experience with this. I sold a mobile home once before it FINISHED rehab.
But, now I know more than ever that MONEY IS ATTRACTED to speed.
And dropping the price of a mobile home to get it sold as a handy man special before you put anymore time and money into it is FAR better for your ROI (assuming you have money into the deal from the gecko).
I know a lot of people like rehabbing.
But, if you like the money better… dropping your price to $15k from an ARV of $30K will mean a difference of 1 month sold VS 3 months AND an ROI of 119% VS 47%
(Assuming here a $5k purchase cost… Scenario 1, selling a handyman special: Ask for a $3k down, and $200 a month for 84 payments is 119% ROI….Scenario 2, rehabbing: putting another $10k into it, asking for $5k down, $400 a month for 120 payments equals 47.55% ROI).
Less money into the deal, and more money in your pocket to use on other deals.
BUT not every market, location, and park can easily sell a handy man special… but it’s still good to advertise the mobile home ASAP!
Because again, money is attracted to speed.
So as a marketer this is what I advice:
*put a sign up (something creative to get attention – if not, at least a “for sale” sign)
*Make a neat flyer for the park, and enough copies for every house in that park, and some for your take-home box
*place a take-home box you can pick up on Craigslist or Home Depot and place in front with your flyer.
*Go door-to-door with those flyers and introduce yourself and ask if they know anyone interested in that mobile home,
*Call the hustling mobile home dealers and agents and tell them about it. Say you’ll cut a good commission if they bring a buyer.
*Place an ad every day on Craigslist, every week on Facebook Market Place. (you can even use those other listing places that I dabbled with in Land: Offer Up, Next Door App, Let Go App)
NOW, this doesn’t guarantee that you’ll get it sold before rehab… BUT, action begets results, and this builds the buyers up, and it builds your energy up for marketing. No need to get lazy on marketing for a buyer (that’s the WORST time to get lazy at this point).
Nothing is a waste of time (as long as you have time for it).
For details on the advertising and marketing; what to say on the ads, and at the door, more techniques on getting traffic to you home… I’ll go over from time to time in my upcoming Deal Magnet Membership Newsletter, because Marketing for buyers carries the same principles and rules as marketing for deals.
In the meantime… if you’re wondering how to sell the mobile homes for cash flow check out the interviews I have with 3 people on that topic.
Search the Deals Today Podcast
Or go to: https://playmusic.app.goo.gl/?ibi=com.google.PlayMusic&isi=691797987&ius=googleplaymusic&apn=com.google.android.music&link=https://play.google.com/music/m/Ib2ow3cmj3tdxj5q77h6ehig75e?t%3DDeals_Today%26pcampaignid%3DMKT-na-all-co-pr-mu-pod-16
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“Keep moving forward in your REI venture”
Paul do Campo
I’ve spent many hours learning and implementing marketing methods in REI, chasing sellers, and building cash flow streams… and I show you what works and what doesn’t from real-world investors in the trenches today through my daily tips, articles, and audio interviews at www.realestateaudios.com
Call or text if you need anything: 909-614-9473
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Chino California 91710
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