Program Review: "The Mobile Homer Program for Mobile Home Investors"

(Note: Recently, I've had a lot of folks contact me asking what the difference between some of Lonnie's as well as other mobile home investing materials out there and which one I'd recommend the most. So, I've decided to go ahead and start a new series of posts - book and program/course reviews).


(Note: This program review came as a request from several readers of this blog so I decided to go ahead and review this program).

I had not heard about this program until it was pointed out by several readers of this blog requesting my thoughts on it. Basically, this is a program created by Frank Rolfe and Dave Reynolds in an effort to bring together both "Lonnie" dealers and mobile home park owners.

Now, I've personally met Frank - he really seems to know his stuff in the world of due diligence and the mobile home park world. At one time, Frank was actually one of the top owner operators of parks in the U.S. His main specialization (as I understand it) seemed to be buying low end parks and turning them around. It seems to me that he profited mostly from the re-sell of the parks. By the time I met him, he had liquidated the majority of his parks.

As for Dave, I have not personally met him. Though, I have listened in to a few of his educational type calls.

However, there seems to be a bit of controversy from their view of buying and doing "Lonnie" deals in other people's parks. Actually, there was an article written that sparked a bit of controversy among them and even Lonnie and his followers. It really made quite a buzz in the mobile home investing world.

(Note: Unfortunately, that article can no longer be found. And, there was a thread on one of the forums with a very heated debate - it has been removed).

Though, their view can still be found in the text of this program:



And, so the "Mobile Homer Program" was created. Basically, the program has a few options - 1) sign up as a mobile home park owner looking to work with Lonnie dealers to fill vacant lots; 2) sign up as a Lonnie dealer looking for mobile home park owners to work with who need lots filled; or 3) sign up as a lender loaning money for deals with the Mobile Homer Program.

Here's a snapshot of the text regarding the program:



Furthermore, the program goes into detail about some of the "flaws" in a "Lonnie" deal that may make the business model unprofitable:



And, then how the "Mobile Homer Program" can be profitable for a "Lonnie" dealer:


Basically, the program is designed for park owners to help give "Lonnie" dealers incentives to do business in their parks. And, also for "Lonnie" dealers to find parks to work with. In addition, it allows others to act as private lenders who wish to be more "hands off" to lend funds to park owners for the deals by participating in the "Done for you Program."

So, the question that has been posed to me has been - what do you think of this program? And, do you think it's worth it?

Well, from my perspective I would say - it really depends. Again, this comes back to really knowing your market.

First, you need to know - what is your comfort level? This includes everything (i.e. the types of parks you feel comfortable working with, the kind of clientele, etc). Are you comfortable working in more low end parks? Or, do you see yourself working more with high end clientele?

Again, it's all a matter of personality and comfort level. And, the only way you'll know this is by visiting the parks in your area.

For me personally, I feel more comfortable dealing in high end parks due to this experience. And, regarding incentives - I've already created relationships with parks who do give me incentives to work in their parks. For example, one of my favorite parks will cover my moving costs if I move a home into the park. Another park gives me free lot rent until the home is sold. But, it's only because I have a relationship with these parks that these incentives exist.

And, that's really what I've found is the importance of this business - creating and maintaining relationships. To a point, this business relies on my ability to create and sustain relationships. As Lonnie has said before, it's really a people business.

As for the program, I really urge folks to first check out your local area and learn your market. After you've learned your market, then you can decide what kind of parks you want to work with and what kind of clientele really works with your personality.

(Note: When you go out and visit parks, the types of folks already living in the parks will be the kind of clientele the parks attract. When I first started out, I made it a point to go out and talk to the park residents to get a feel for what types of folks live there).

Once you know the market, if you're thinking about this program at least you'll be equipped with market knowledge when you check out their list of parks to work with. Believe me, I've been invited before by individual park owners to work their parks. But, in a lot of cases (this is just my personal experience) the types of parks have either not matched my personality (more lower end parks) and/or there's not enough demand in the area (as I saw it) to attract the types of clientele I felt comfortable working with.

For me, what worked better was scoping out my local area and choosing the parks I want to work in. Personally, I'm much more of a small, mom and pop operation (just like Lonnie). I don't really like to work in large teams - it just gets too complicated when there are too many people involved. But, that's just me.

Being part of a program like this will put you more in a "team" oriented role. So, it's just something to keep in mind. Do you like working in large groups with more people? Or, do you prefer a smaller operation?

Lastly, if any of the folks out there do decide to pursue this program - I would just make sure that you really know the market before committing to work with any of the parks.

Here's the thing, the park's main goal is to get their lots filled - they derive income from the lot rent. And, once a home is on the lot or you purchase an existing home on their lot - there's a commitment. Just be sure, you really know the market and the demands of the area before committing. Once the home is there and/or you buy an existing home on the lot, you're kind of stuck (in a way) until you sell the home.

I hope this review has helped and given a bit of insight for those who have been thinking about the program. I'm going to leave you here with an inspiring video for those who have been thinking about mobile home investing.

Happy investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!

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Terminology Tuesday (Tricks of the Trade) - How to Clean Like a Professional

(Note: I think it's important to know the terminology and words used when learning any new business including mobile home investing. I came up with 'Terminology Tuesday' as a way to go over the terminology used in the mobile home business. It's important to know the terminology when talking to people in the business so you're all on the same page).

**** Tricks of the Trade is a new series I have started that will be included with "Terminology Tuesday" posts. The goal of this series is to share with you the "tricks of the trade" I have learned in the mobile home business.



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One of the most important members of my team have been my cleaning crews. And, I have to tell you - I've learned a great deal from them regarding cleaning homes professionally.

(Note: If you missed this Terminology Tuesday post, you may want to check it out for one of the really neat tricks I learned).

With the economy, it's definitely a buyers market right now. And, buyers are getting pickier and pickier. So, I really do take the time to get homes in pristine condition before I put them on the market - this includes cleaning them from top to bottom.

Here are some additional tricks I've learned from my cleaning crews:

How to Clean Painted Walls



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How to Clean Faucets



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How to Clean a Toilet



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Putting both time and money into getting homes ready has really made the entire selling process easier. Here's the thing, when we go into someone else's home - we usually notice things we probably wouldn't notice in our own homes. So, when the homes are getting ready I really take the time to imagine myself going into the home for the first time once it's all ready and done.

Involving myself in the cleaning process and learning the techniques the professionals use has really helped me to see that details do matter. Small details I probably would gloss over have been pointed out to me by my cleaning crews - I would have never thought to give them much attention. But, in the overall picture and scheme of things - it does matter.

As the saying goes, "You never get a second chance to make a first impression." So, I need to make the first one the best.

I hope this "Terminology Tuesday" post has helped to give you some insight on some aspects of the cleaning process I use to get mobile homes in marketable condition.

Happy investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!

Investing 101: Negotiating and Making Offers

Many times I have been asked by folks the following question, "How do I negotiate and make offers?" And, many go on to tell me they just cannot find cheap mobile homes for $3,000. So, what's the problem?

(Note: For those interested, I touched upon the concept of finding cheap homes in this post).

Well, the problem is simple. In fact, it's so simple that many investors fail to miss the mark on this one simple concept - they simply fail to realize the importance of learning how to create strong relationships.

Many people are taught to go out and market - use all the techniques out there in order to get the phone ringing and generate leads. From bandit signs, direct mail, internet marketing, cold calling - you name it; these are all techniques taught to market and generate leads.

But, here's the problem. Once they get the leads and the phone to start ringing, many fail to do one very important thing. Above all else, they fail to see the importance of learning and creating strong relationships. And, instead focus on the prize - the home itself.

By focusing solely on the prize, these folks end up in a battle against the seller. In essence, it becomes a price war. And, some may win but in most cases they lose. To sum it up, it becomes a win/lose situation.

Say a seller has been talking to one of these investors trained in the quest to buy a cheap home - who focuses solely on the home and the price. After meeting with the seller, nothing has come of it - the price becomes the main issue. The seller feels they cannot trust this investor who seems to care only about the home and getting the best price for themselves. Nothing happens. There is a standstill. Both depart their separate ways.

Then, the seller talks to someone different - someone who is not interested solely in the price or the home, someone who is interested in creating a relationship and trying to create a win/win situation for all.

In addition, this person already has a very good relationship with the park manager not to mention several homeowners already in the park. In fact, it is the park manager who actually referred the seller to this new person - it is the park manager who advised the seller to work with this person to come up with a solution to help sell their home.

Who do you think the seller is going to trust more - a complete stranger or someone referred by the park manager (who they have known for years) or other fellow homeowners? I'll let you decide.

My point is that most fail to realize the importance of learning how to create strong relationships. Folks, it's not just about the deal - it's not just about buying cheap mobile homes.

It's about people and helping people come up with a solution to their problems. And, the only way for sellers to want to work with someone is knowing they can trust that person. But, the only way they can know this is if that person does one thing. And, what is that? CARE.

By having a strong network who is there to tell others how much you care and can help folks out, you will have an even stronger position above anyone else. The name of the game is learning and valuing the importance of creating strong relationships. Without creating strong relationships, it's going to be very hard to be successful in this business.

Believe me, I know. In this earlier post, I talked about a story where I was taught the importance of building strong relationships and why I continue to do it.

As a former business to business sales executive for a Fortune 500 corporation, I learned from the best at a very early age. Many of my peers were decades beyond me. Though, I was there for one reason alone - I knew how to get in the door and build relationships. In learning and valuing the importance of building relationships, this led to more business.

We all know that business is built on relationships. And, relationships need a solid foundation in order to survive - that foundation is trust.

In writing this "Investing 101" post, I urge folks to revaluate what you are doing and figure out the strength of the relationships you are creating. Are you doing things solely for the purpose of self-interest? Or, do your actions truly help others? How strong are the relationships you have created? Do you have a lot of mediocre type relationships or do you have fewer stronger type relationships?

In the end, a successful business is really a long term commitment. By valuing and learning the importance of creating relationships, you will put yourself ahead of the rest. Yes, this does take time. But, in the end - it's definitely worth it. Those who put in the time and the effort, succeed. Those who don't, fail.

I'm going to leave you here with a quote by Michael Scott from one of my favorite television shows, "The Office," that inspired this post.

"Everyone always wants new things. Everybody likes new inventions, new technology. People will never be replaced by machines. In the end, life and business are about human connections."

(Note: For those interested, this quote was from Season 4, Episode 2).

Happy Investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!

Terminology Tuesday (Tricks of the Trade) - How to Lay Brick

(Note: I think it's important to know the terminology and words used when learning any new business including mobile home investing. I came up with 'Terminology Tuesday' as a way to go over the terminology used in the mobile home business. It's important to know the terminology when talking to people in the business so you're all on the same page).

**** Tricks of the Trade is a new series I have started that will be included with "Terminology Tuesday" posts. The goal of this series is to share with you the "tricks of the trade" I have learned in the mobile home business.



A few weeks ago, I wrote a "Tricks of the Trade" post regarding the ins and outs of covering up a hitch. Well, guess what? I'm writing this post to add to it regarding how to lay brick. But, why?

As it turns out, last week I went to go visit the home on this deal. And, to my surprise here's what I found:



Can you spot what's wrong with this picture? I'll give you a hint, it used to look like this:



Yes, so the top rectangular 6 bricks on the top were gone. So, I immediately went to talk to the park manager who apologized and told me this could have been done by the kids. I suspected it, too.

The park manager told me a notice would be sent out to all the residents regarding this incident as a warning. And, furthermore I was advised by the park manager to go ahead and lay the bricks with mortar so this would not happen again.

Before I took a trip to the local hardware store, I went ahead and posted a notice on the home. It basically said the home was being watched by the local Sheriff's office. Personally, I know the Sheriff and learned this little trick due to this experience.

Afterwards, I took a trip to the local hardware store. I bought more bricks, mortar, a bucket and a trowel.

Then, I went back to the home and started on this little project. And, I have to tell you - it was definitely a learning experience. The handle of the trowel I bought broke (Note to self: Don't skimp on the tools). And, mixing up the mortar with a stick (the only thing in my car I had) is not a good idea - I really needed a shovel or professional tool to do the mixing.

In any case, it took me awhile to complete the project. But, I finally got it done. And, here are the results:



For those who are interested, here's a short video on how to lay brick:



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After I completed the project, I was really relieved just to get it done. Now, the bricks around the hitch are in place. And, I can honestly say this has definitely been another new and educational learning experience for me.

I hope this "Terminology Tuesday" post has been helpful and has given you some useful information to use - it definitely has for me.

Happy investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!

Deal or No Deal: 3/2 Singlewide Mobile Home In a Park (Free Mobile Home)

Since I've received a lot of requests for more case studies, I thought I'd make up another post for "Deal or No Deal."

This one is for an early 1980s, 14x76 singlewide mobile home in one of the parks I like to work in. This opportunity actually found me while I had taken a trip to visit the park.

So, I was cruising the park just checking out the latest activity when I spotted the park manager walking around. He noticed me, I waved back, and said "Hey, what's going on?"

We chit chatted for awhile. And, we went for a walk around the park.

In any case, we talked about a lot of things. And, in conversation the park manager told me about a home the park had taken back. I learned this home had been vacant for months. And, the park just didn't want to fix it up and deal with it. He told me to take a look at it. And, if I were interested - the park would give it to me for free (based on his recommendation).

(Note: This is the power of networking and really having a strong team).

Now, I know there are folks out there who have heard of free mobile homes. And, I'm here to tell you - the term "You get what you pay for" usually holds true in these type situations.

The first thing I asked the park manager was, "Be straight with me. How much work does this thing really need?"

And, with that the park manager just smiled at me and said "I'll let you decide. Just take a look."

Once I heard that, I knew this probably needed a lot of work (aka a junker). I just knew it. But, I decided to go check it out anyways. And, here's what I found.

As soon as I pulled up to the home, I had a really bad feeling (through my "Does it Look Like a Deal" analysis).

Outside of home





Mold and flashing issues near top





Back of home with wood board covering up area of home (possible damage to paneling)



Hornet's nest near water heater panel

(Note: This is one sign the home is older (i.e. 1980s) when the water heater panel is accessible from the outside of the home. In most newer homes, the water heater panel is accessible on the inside (usually near the utility room or in the master bedroom).





Inside of home

Living room area



Ceiling (water) damage



Bucket of water underneath ceiling damage

(Note: I ran into the bucket while looking up at the ceiling and almost tipped it over - it was filled to the brim with water!)



Inside bedroom closet ceiling damage and mold issues






Bathroom floorwork needed



Insulation in tub



After viewing the home, the park manager asked what I thought. I said, "Seriously, did you think I'd even want this with all the work it needs? Even if you paid me, I wouldn't even want this!"

And, with that the park manager laughed. He told me he knew I wouldn't take it. But, just wanted to get my reaction. And, told me "Yeah, we all know that things that are free and cheap are not all what they turn out to be. We'll probably just sell it to an investor for a couple thousand dollars and they'll think it's a deal." And that was that.

I hope you enjoyed reading this case study of "Deal or No Deal." I hope it will help you to better understand the thought process when evaluating potential mobile home investments.

If you would like to share a story on a home you've recently passed on or pursued (aka "deal or no deal"), I'd definitely be interested in hearing about it!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!

Terminology Tuesday (Tricks of the Trade) - How to Clean Mini Blinds

(Note: I think it's important to know the terminology and words used when learning any new business including mobile home investing. I came up with 'Terminology Tuesday' as a way to go over the terminology used in the mobile home business. It's important to know the terminology when talking to people in the business so you're all on the same page).

**** Tricks of the Trade is a new series I have started that will be included with "Terminology Tuesday" posts. The goal of this series is to share with you the "tricks of the trade" I have learned in the mobile home business.



When buying mobile homes and getting them ready before they are put on the market, one of the things that I constantly deal with are mini blinds.

(Note: This is where my style differs with Lonnie's - he usually sells "as-is" while I do not. Again, it's all a matter of personality - everyone has a different style and way of doing things).

Most homes come standard with mini blinds and most owners I deal with have also left the curtains with the blinds. Though, I usually encourage them to take the curtains but a lot of times they end up leaving them with the home. (Along with a few other items!)

But, I usually prefer to remove the curtains and just leave the blinds when getting homes ready. Why?

Well, the curtains are nice and all. But, I really treat this business like the property managers do - I try to make everything uniform. And, that includes the blinds inside the homes.

(Note: For those interested, when getting units ready in the property management business they refer to the process as a "make ready." Basically, this involves getting the unit cleaned and painted (if necessary) for the next occupant. In most cases, the units are uniform in the way they are presented).

Many times, having the existing curtains can add too much (i.e. darkness, decoration, etc) to a room. Also, people have different tastes - I don't want to turn off an existing buyer just because they don't like the curtains. So, I usually end up removing the curtains and then dealing with the existing blinds in the home.

Here are a few pics of the home on this deal with the curtains and without them with just the blinds:

With the curtains

(Note: Notice how dark the curtains make the room. If the room looks darker, to most folks it looks smaller).



Without the curtains and with just the mini blinds

(Note: Notice how the mini blinds make the home look lighter (rather than darker). If the room looks lighter, to most folks it looks bigger just like with this deal).



Regarding the process, once the curtains are removed than the next decision I have to make is whether or not to work with the existing blinds or purchase new ones. Usually, I will make the decision based on how the blinds look - if some panels are missing and/or really bent then I will go ahead and purchase new ones.

If they still look ok and just look like they need a good cleaning (and most do but just have a lot of dust), then I keep them. But, then you may be asking - how do you clean them?

Well, in the early days I would just give them a light dusting. But, this was very time consuming trying to get the dust out of every panel and every mini blind in every room. Then, I learned a really neat trick from one of my cleaning crews.

(Note: I have a few cleaning crews on hand for homes that need more than a light cleaning (i.e. smokers, pets, etc). If the home just needs a light cleaning, then I do the job myself. (And, have been mistaken for a cleaning lady driving around the park with my cleaning supplies and all!)

Basically, I learned a quicker and faster way to clean mini blinds - dipping them in the bathtub using Purple Power.

Here's a snapshot



I let them sit there for a bit (while cleaning the rest of the home) and then rinse them off and wipe them down with water. (The dirt should come right off). And, you know what? It really works!

I really do learn something new everyday in this business. And, most of the time what I learn are from other folks just like with this experience!

I hope this "Terminology Tuesday" post has been helpful and has given you some useful information to use both in your business as well as your personal life - it definitely has for me.

Happy investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!

Investing 101: Is Mobile Home Investing Right For Me?

So, I was all set to write another "Deal or No Deal" case study type post today but then I changed my mind. I'd like to take a moment and get away from the mobile home case study series for this post and write about something that has been on my mind lately.

Recently, there have been folks who have contacted me about their interest in mobile home investing. Many have told me they have heard a lot of stories from other investors about mobile homes being the best type of investment vehicle out there and also the one having the best return on investment.

But, the question that is asked of me is this "Is mobile home investing this great? Can I make a lot of cash flow from investing in mobile homes and have great returns? And, if so do you think it's for me?"

In all honesty, I cannot answer that question. Why?

The reason being is that it's different for everyone. I don't think mobile home investing is the best type of investment vehicle and has the best returns for everyone - it just doesen't work out that way. I've said this before, it's all a matter of personality. What works for one person, may not work for you. And, vice versa.

I'm sure this may seem kind of odd for me to say being that I write a blog about mobile home investing. But, the goal of my blog is not to convince others to invest in mobile homes. The goal of my blog is to share my adventures and stories about my experience investing in mobile homes. That is all.

Personally, I don't think folks out there should base their decision to go into mobile home investing solely on stories they've heard from other investors about all the money they have made and the types of returns they've made from mobile home investing.

Honestly, this business takes work - hard work. And, success doesen't happen overnight. Just like any business, it takes a lot of time and persistence to make it work. But, when it does - it can be worth it.

The important thing is to be mentally prepared and ready. When I first made the decision to go into mobile home investing, I knew this is what I wanted to do. I made many sacrifices, I gave up a lot of things.

(Note: For those interested, feel free to check out this article on why I enjoy investing in mobile homes).

I remember many a nights reading, studying and then taking action on what I had learned. It took time, a lot of time. And, there were moments where I kept asking myself "What in the world am I doing? Is this going to work?" But, I kept pressing on.

I took the time to really learn the ins and outs of the business. And, did what I had to do to get to my first mobile home deal - it took me almost a year. After completing my first deal, I can say I really learned a lot. Though it took a lot of time and hard work, I can honestly say that I found that I did enjoy the business.

And, this is what it's all about. When folks have asked me about whether or not they should pursue mobile home investing, I tell them straight out - try it out and see if you like it. Honestly, not everyone that has tried it has liked it.

I remember one investor in particular who did one "Lonnie Deal" (a fellow rehabber) and told me it just wasn't for him. He told me if he was going to spend all his time on something, it would be doing something that he enjoys - rehabbing properties and selling retail for a lump sum. He just didn't feel that collecting a check for a couple hundred dollars was worth all the time and effort. And, that's ok.

So, for those who are interested in mobile home investing I highly urge you to think about why you are interested in it. If you are interested in this business solely for the money, I urge you to think it through.

Honestly, there are much more easier ways to make a lot of money - it's called having a high paying job. Being an entrepreneur and starting a business takes a lot of work. The rewards can be great but the payoff does not happen overnight.

In Thomas Stanley's book, The Millionaire Next Door, he even states that many millionaires think it much easier for their kids to go to school, become a professional and have a high paying job than to go out and start a business.

If I were interested solely in making a lot of money quicker, I'd go out and do the same thing. Though, I did not.

(Note: Growing up, I was always an entrepreneur at heart. I had many entrepreunerial ventures as a kid and this followed me even as an adult - it's always been a part of me).

This all really comes back to really knowing who you are and what kind of life you want for yourself. For me personally, I know I've always been an entrepreneur. That is why I keep saying for me it's not just about the money. It really isn't.

(Note: For those who are interested in why I went into mobile home investing in the first place, feel free to check out this video).

I had a chance to take the path of the kids of The Millionaire Next Door. As an undergrad, I was chosen for a fellowship in a pre-MBA program at a top tier business school.

Though, my mentor (who was already enrolled and attending the MBA program) told me - I just didn't belong there. She told me this just wasn't for me because she saw the "entrepreneur" inside of me.

(Note: Even as a student with classes and a working job, I still had the time to have my entrepreneurial ventures. And, yes I ran these ventures out of my apt - my roommates thought I was crazy!)

My mentor encouraged me to go out and pursue my entrepreneurial ventures in the real world as business school did not teach this - they taught management. Furthermore, she went on to tell me that business school does not churn out entrepreneurs - they churned out managers, investment bankers and consultants. So, I took her advice to heart. And, here I am.

So, my point is to really take the time to know who you are and why you want to do the things you're interested in. Honestly, it's really easy to get caught up in all the hype of things (especially in real estate investing).

Though, at the end of the day what's important is doing the best thing for you and your family. And remember, the right thing to do can only be decided by one person. And, that is you.

(Note: Thank you for taking the time to read this post. Though it seems pretty deep, I felt the need to say these things due to all the inquiries I've received from folks seeking advice on this topic).

I'm going to leave you here with a video from Seth Godin that inspired this post.

Happy Investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!



Video Link

Terminology Tuesday (Tricks of the Trade) - Covering Up a Hitch

(Note: I think it's important to know the terminology and words used when learning any new business including mobile home investing. I came up with 'Terminology Tuesday' as a way to go over the terminology used in the mobile home business. It's important to know the terminology when talking to people in the business so you're all on the same page).

**** Tricks of the Trade is a new series I have started that will be included with "Terminology Tuesday" posts. The goal of this series is to share with you the "tricks of the trade" I have learned in the mobile home business.



Recently, I've had to deal with an issue on this deal - covering up a hitch.

Since I only deal with high end parks now due to this experience, the majority of these parks have strict regulations regarding hitches - they are prohibited from being seen. Usually, in the more low end parks - hitches are allowed to be in plain view. And, in most cases - there are many hitches to be seen in these type parks.

In all honesty, I think it is more an aesthetic issue than anything. Having the hitches not in view just makes the park and the overall community look nicer (in my opinion). So, I can see why hitches are prohibited from being seen in most high end parks.

Since I have a good relationship with the park manager for this deal, I was allowed to cover the hitch. Now, the park manager did tell me in their rules and regulations that it states all hitches in the parks must be removed and placed underneath the homes. Though, the park manager told me I wouldn't be made to do this as it costs quite a bit of money just to raise the home and remove the hitch. This is the power of building strong relationships.

So, you may be asking yourself - why do I have to deal with this issue and not the previous owner?

Well, when I negotiated this deal with the previous owner the hitch was actually covered. Awhile back, the previous management had planted bushes in the park which had covered up the hitch. Though, this bush really grew out of control. And, I didn't like it one bit. Here's a snapshot:



(Note: In addition, I had to also find someone to cut this bush down. (Talk about major stress issues!) Went through a bit of drama interviewing and getting bids from a few contractors but finally found a guy who could do it. And, he did a great job!)

Once the bushes were removed and cut down, then the hitch was exposed and the home looked like this:



Once the hitch was exposed, I took some measurements. I measured 12 inches off the ground (which was great as it wasn't too high) and 50 inches across for the sides and height of the hitch.

(Note: For those who are new to the mobile home business, in most cases the length of the hitch is standard - usually 4 feet long. And, this 4 feet gets added to the overall length of the home. For example, a 16x76 foot long home with a hitch would actually be 16x80 foot long (if you count the hitch).

In any case, I asked the park manager for a few ideas to cover the hitch. The park manager told me there are several things that I could do, but all that mattered was that it looked nice. Ok, but that is so subjective! Something that looks nice to one person may not look nice to another. I was really stressing about this!

Though, the park manager assured me this was not a big issue. The park manager told me to go around the park and get ideas by looking at what others have done. A few suggestions were to cover up the hitch in lattice, build a box around it, or use some bricks to cover it up. So, I went around the park to get a few ideas. (Talk about ridiculous!)

Here's what I found:

Good



Better



Not that great



After checking out what others had done in the park, I took a trip to the local hardware store (aka Home Depot and Lowe's). And, after much deliberation came up with this:



Now, here's what the home looks like with the newly covered hitch:



After I completed the project, I was really relieved just to get it done. Now, the hitch is covered (per park regulations). And, I can honestly say this has definitely been another new and educational learning experience for me.

I hope this "Terminology Tuesday" post has been helpful and has given you some useful information to use - it definitely has for me.

Happy investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!

Investing 101: Why I Focus on Building Relationships

(Note: Image courtesy of LumaxArt)

Lately, I've been contacted by many folks who tell me they are having a hard time finding deals in their market. And for those who have found a potential deal, many have told me they just don't know if it's a deal or not. So, things don't really work out.

Listening to these stories and the struggles involved really brings me back to my early days in sales. In the beginning, I really wanted to make things work. So, I asked the top sales rep for some advice. And, you know what he told me?

He told me the key to being successful was to stand apart from the rest - don't be like everyone else. Don't go chasing after business the way everyone else does. Make people want to see you, want to do business with you. And, the only way you're going to do that is by building relationships. By building relationships, you do one thing that most don't do - you build trust.

By building trust, it's not going to matter - people will automatically want to work with you, want to help you. But, if you don't take the time to build relationships and earn that trust - why should they do business or want to help you in the first place?

There is one more thing he told me that I will never forget. He said, "Don't focus on the sale. Focus on building relationships. If you do that, you won't have to worry - business will come to you."

And, I took his advice to heart. In the beginning, it was a bit of a struggle - it took up a lot of my time. I was having many meetings with the same people, yet nothing seemed to be going anywhere. I wanted that immediate sale, that immediate gratification. It seemed like an eternity.

Though, the top sales rep kept telling me to stay with it - be patient, be persistent and it will come. And then, he told me - when it comes, it will come big time.

So, I stayed with it. I took meetings, I showed up. And, I kept showing up. I showed up to the point where things finally started happening. I remember meeting with the CFO of one company at 6am in the morning. Many of my other peers thought I was crazy.

The top sales rep told me to do it. He told me our hours are not built around 9-5. If you have to meet people outside regular business hours, do it. If you do the things that most are not willing to do, it will be worth it. I guarantee it.

So, I continued to follow his advice. And, you know what? It worked.

Though it took time and I felt behind from the rest, I soon excelled among my peers. Within a short time, I was in the top 3 among my peers.

What I learned from this experience was the value and importance of taking the time to build relationships. Though it can seem very slow at first and feel like an eternity, it's important for the long term.

Just like the story of the turtle and the hare, it is the hare who had a fast start but guess who won the race? The turtle.

Much of what I do and my style of doing things has come from my sales experience. I learned firsthand the importance of building relationships and taking the time to do one thing that most don't do - CARE.

Honestly, despite all my formal sales training and seminars I attended (as there were many) - the one thing I learned in business was that it takes heart to succeed.

Having heart sets me apart from the rest. If I take the time to care about others, they will take the time to care about me. Even if it does not lead to business or a sale, it has all come back threefold with referrals.

For me personally, I know my approach sets me apart from everyone else. Just recently, I had a closing on this deal.

After the closing, the sellers told me they were so happy to have met me - they told me now they felt I was like family. And, it felt like they've known me forever(No kidding, their exact words!). They went on to say that I really do things differently from all those other investors. And, they personally invited me for a visit to their farm to experience true, country living.

It is situations like these that really make things worth it in the end - it's the mutual appreciation on both sides of the table. Does this happen all the time? No. But, when it does - it's definitely worth it.

For those out there who find themselves struggling or having a difficult time in this business, I urge you to re-evaluate what you are doing and how you are doing things. Are you doing things like everyone else? Or, are you different? What sets you apart from the rest?

Just like the advice the top sales rep gave me, if you can learn to stand out and be different from everyone else - you will succeed.

I'm going to leave you here with a video from Seth Godin that inspired this post.

Happy Investing!

p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!



Video Link