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Speaker 2: Earners, Listen up.

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Speaker 3: When people all around the world first started going out

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Speaker 3: protesting this summer, you'd hear it over and over. This

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Speaker 3: time is different, But how and who are the people

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Speaker 3: resistance posts, SAYI T John Thomas Jr. Brings us stories

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Speaker 3: from the front lines of the movement for Black lives,

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Speaker 3: told by the generation fighting for the change. It's a

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Speaker 3: show about people refusing to accept things as they are

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Speaker 3: and how we can make sure this time really is different.

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Speaker 3: Resistance is out now, follow and listen for free on Spotify.

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Speaker 4: My graduates from my school being forced back drop.

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Speaker 5: Mike drop backdrop.

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Speaker 6: So I don't think people fully understand, like I said,

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Speaker 6: especially like we come from New York and but you

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Speaker 6: actually told me that there's a lot of mobile homes

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Speaker 6: in New York. But like the New York City area

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Speaker 6: metropolitan area, and you know a lot of listeners that

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Speaker 6: may be from like cities. They don't fully understand how

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Speaker 6: big of an industry mobile parks homes are. So I

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Speaker 6: did some research. So it's twenty two million Americans live

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Speaker 6: in mobile homes, and so like, how lucrative is it?

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Speaker 6: Like on the ROI standpoint, how lucrative is the mobile

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Speaker 6: home industry?

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Speaker 5: Man, Listen, it's the highest cash on cash return of

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Speaker 5: any real estate investing. Like I didn't believe it at

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Speaker 5: first until I'm gonna give example, our average returns are

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Speaker 5: two hundred and fifty ROI on per deal that we do,

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Speaker 5: how long does it does our normal turnaround in sixty days.

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Speaker 5: Now we're to the point that we flip a house.

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Speaker 5: We flip in less than fifteen days.

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Speaker 2: Wow.

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Speaker 6: Okay, so all right, so since you said that you can,

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Speaker 6: you can you break down a deal and like kind

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Speaker 6: of explain, like how does that work?

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Speaker 5: Cool? So I'm gonna break down with a deal. So

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Speaker 5: we had a deal. We purchased a home for three

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Speaker 5: thousand dollars right in Indiana, and the home that it

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Speaker 5: didn't need any work from an older lady. In most

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Speaker 5: of the situations, right, most people don't really know the

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Speaker 5: value of their homes. And three grand said cool. So

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Speaker 5: what we did was we say, you know what, we're

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Speaker 5: going to open up for sellar finance. We're going to

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Speaker 5: help somebody get affordable housing in that area. The average rent,

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Speaker 5: we normally based it off the average rent it was

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Speaker 5: eight hundred dollars, right, So we say, okay, we're going

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Speaker 5: to be comparable now in a park. If you're doing

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Speaker 5: mobile home investing in a park, the park has lot

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Speaker 5: rents just like HOA fees. Okay, so you have to

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Speaker 5: pay monthly those This park was it was at three

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Speaker 5: seventy two.

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Speaker 6: So all right, a lot fee? What's the lot fee?

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Speaker 5: So it's like an hoa fees they're paying for the trash.

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Speaker 5: They're paying for.

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Speaker 6: Just to stay on the actual so that the park

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Speaker 6: owns the land. Tell you own that. If you can't

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Speaker 6: just park your mobile home anywhere, no, now have to

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Speaker 6: be inside of a license, like a park that has

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Speaker 6: a permit. And it's it's like a okay.

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Speaker 5: Right, And so normally the ones that you drive, like

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Speaker 5: the RVs, those are different, right, you go, you can

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Speaker 5: go take drive those and go into a park and

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Speaker 5: pay like a fee. But normally the ones that you

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Speaker 5: see are kind of just like on actual like land,

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Speaker 5: like those right there. Yeah, you can move those, but

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Speaker 5: it's not costly normally about two grand or so to

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Speaker 5: move them, depending on how many miles. But in this case,

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Speaker 5: so we so we say, hey, you know, we'll take

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Speaker 5: four twenty eight monthly. Okay, so it was eight hundred bucks.

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Speaker 5: So how it did we put them on a sixty

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Speaker 5: month term because remember it's a mobile home is pretty

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Speaker 5: much a motor vehicle on most states. It is not

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Speaker 5: actually real estate. It's real property unless you put in

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Speaker 5: on on land. So this particular deal, we're getting eight

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Speaker 5: hundred a month, we're getting cash flowing four to twenty eight.

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Speaker 5: We put them on a sixty month term. At the

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Speaker 5: end of that sixty month term, that three thousand we

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Speaker 5: turned to twenty five thousand. Was it twenty five six twenty?

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Speaker 5: That's seven hundred percent return on investment we created.

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Speaker 6: So the rent that you were guys were collecting was

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Speaker 6: four hundred a month for twenty twenty eight. Yeah, and

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Speaker 6: how much did you buy it for three thousand? How

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Speaker 6: how do you buy something for three thousand in the charge?

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Speaker 6: How much were they they were paying eight hundred dollars

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Speaker 6: a month in rent? Yes? Because how is that? How

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Speaker 6: is that possible?

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Speaker 5: So with that, so instead of them renting an apartment,

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Speaker 5: right because they get it. If they rent apartment for

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Speaker 5: eight hundred dollars, they got no equity in it. So

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Speaker 5: we're providing it's just equity in that house.

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Speaker 6: Right.

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Speaker 5: The thing is, we buy it for so low, Right,

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Speaker 5: we don't necessarily have to say, Okay, we're gonna only

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Speaker 5: sell it for five thousand. Right, we still operate because

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Speaker 5: if you think about the number, is still a house,

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Speaker 5: it's still a home for them. So a twenty at

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Speaker 5: the end of the day, a twenty five thousand dollars

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Speaker 5: house where you still gonna get other moving ready, twenty

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Speaker 5: five thousand dollars.

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Speaker 6: House, So no, that's crazy. But I was just like,

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Speaker 6: but if why would somebody not just buy it on

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Speaker 6: their own? If they like, why would you rent for

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Speaker 6: eight hundred if it only cost three hundred three thousand

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Speaker 6: to buy?

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Speaker 5: So the thing is for us being investors, it's almost

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Speaker 5: like we buying off off market property.

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Speaker 2: Right.

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Speaker 5: The most people don't really know that, hey, I can

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Speaker 5: go get there, and if they do, they definitely take advantage.

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Speaker 6: Right.

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Speaker 5: For example, we have a house Chinese just sold this week.

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Speaker 5: We literally we got the house of four fifteen hundred.

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Speaker 5: We sold him him for six thousand. He's going to

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Speaker 5: move the home. Right, We're still doing a favor. But

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Speaker 5: then at the same time we offer seller finance, we

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Speaker 5: is offered I usually I usually do anywhere from like

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Speaker 5: eighteen dollars. I look at eighteen dollars to twenty five

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Speaker 5: dollars per square foot.

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Speaker 3: So you could actually with your finance and you could

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Speaker 3: have no money and get a home. Yes, yeah, interesting,

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Speaker 3: so I can, right, So like I go in, I

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Speaker 3: have no money.

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Speaker 2: I'm like, yo, I want to get this home. That's

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Speaker 2: where you come in.

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Speaker 5: Yeah, yeah, And that's what I'm offering. Because see the

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Speaker 5: thing is most banks don't lend to mobile homes. They

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Speaker 5: like Warren Buffett, he has two lending companies because you

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Speaker 5: understand that Warren Buffet is in this game on Clayton Homes.

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Speaker 6: Warren Buffett Lenk's mobile Homes.

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Speaker 5: Yeah, yea, he owns Clayton Homes. That was acquisition he

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Speaker 5: brought in nineteen ninety seven. Clayton Homes is the largest

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Speaker 5: like manufactured home company in the country.

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Speaker 3: So banks don't give the loans because are they looking

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Speaker 3: at it as like an ornamobile loan?

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Speaker 2: Like how are they looking at it?

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Speaker 5: They looking at as a depreciating asset. Words for us,

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Speaker 5: we look at it as value.

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Speaker 6: So it's an appreciating asset because it has wills and

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Speaker 6: anything that wills appreciates correct, So is that true?

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Speaker 1: Not nine?

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Speaker 5: At the end of the day, for us, we look

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Speaker 5: at it we solve an affordable housing crisis, right, Like

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Speaker 5: that's the biggest thing. Like cities, we know what the

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Speaker 5: cost of living is going up, all right, Wages are

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Speaker 5: still staying the same so people are getting pushed out

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Speaker 5: like we see it every day, like where it's gentrification

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Speaker 5: people can't afford. So for us, it's like, hey, listen,

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Speaker 5: I get it. You've been living in this apartment for

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Speaker 5: the last five to six years. Why don't you get

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Speaker 5: your own asset? Right, Because at the end of it

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Speaker 5: is you can do the same thing. Most people that

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Speaker 5: we educate that buy house rooms, we even teach them like, hey,

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Speaker 5: this is how you sell your home to get your

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Speaker 5: money back or make more on your home.

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Speaker 3: So where these mobile parks located in proximity to major cities?

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Speaker 2: Right, So we live in the New York tried state.

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Speaker 3: How many miles typically would a mobile park be located?

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Speaker 2: Right?

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Speaker 5: Good question. So for you guys, I know you guys

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Speaker 5: got one in Staten Island.

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Speaker 2: I've been.

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Speaker 3: We've been in New York our whole lives, Like I think,

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Speaker 3: I don't think I've ever been stand now.

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Speaker 7: And then we got a few students out in New

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Speaker 7: York and they normally work with parks in Jersey, so

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Speaker 7: they go over to Jersey.

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Speaker 5: Yeah, and about honestly, I will say about sixty miles

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Speaker 5: if you're willing to go upstate New York I'm not

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Speaker 5: sure that the exact knowledge, but I know you guys

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Speaker 5: have a lot central and upstate new Is there like.

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Speaker 3: A mandated distance like that the federal government will say

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Speaker 3: like this is a further dents you can go before

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Speaker 3: you create a park.

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Speaker 5: So here's the thing in modern days, So mobile home parks.

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Speaker 5: The reason why you don't see a lot of them

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Speaker 5: popping up right now because here's the reality. Taxes right

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Speaker 5: in America that calls on the average is like twelve thousand.

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Speaker 5: It's in a kid to school. I'm gonna give you

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Speaker 5: guys exam. I'm aout to blow your mind real quick.

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Speaker 5: Our taxes on our mobile homes per year one hundred

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Speaker 5: and sixty dollars. Our taxes on our mobile homes in

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Speaker 5: Indiana thirty seven dollars for the year. So you got

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Speaker 5: to think about it. If you have a kid living, if

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Speaker 5: you got children, you got two children, and it costs

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Speaker 5: at least eleven ten thousand dollars a cent them to school,

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Speaker 5: that city is not eating from that. So cities really

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Speaker 5: don't really like mobile home parks because of the taxes. Wise,

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Speaker 5: and most mobile home parks they use in the city water,

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Speaker 5: they sit, they're using the city sewer. So and you

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Speaker 5: know in that case, it's like, yeah, we're not eating

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Speaker 5: off that. We don't really like this.

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Speaker 6: Over here, Sony more on lunch money than I always.

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Speaker 6: All right, here's a question. You live in a mobile home, right,

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Speaker 6: how do you what do plumbing? How does that work?

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Speaker 2: So?

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Speaker 5: I like so everything is above ground. Everything is above ground.

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Speaker 5: So the cool thing is like you know, if you

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Speaker 5: need something fixed, they can go under the actual mobile

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Speaker 5: home to repair.

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Speaker 6: So but like your actual like you go in the

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Speaker 6: bathroom and goes underneath the like where did that go?

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Speaker 2: Is it like a septic tank down there?

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Speaker 5: So normally most parts so here's the thing. Most parts

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Speaker 5: either have they're hooked up to city sewer, so it

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Speaker 5: will they will have the hook up so it can

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Speaker 5: go you know, along with the city, or they have

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Speaker 5: septic tanks.

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Speaker 6: Okay, So like if it comes from your truck, your

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Speaker 6: your mobile home into like a underground thing. Yeah, so

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Speaker 6: all right, So if the taxes is so low, right,

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Speaker 6: so what's the what's the gig? Because it has to right,

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Speaker 6: like what's going on? So all right, the taxes a loan,

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Speaker 6: you can buy a home for low you can sell

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Speaker 6: it for high. So why a why would any why

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Speaker 6: why did? What's why? What's in it for the city

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Speaker 6: or for the town to actually house these places? And

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Speaker 6: how come more people aren't doing it?

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Speaker 5: Good question? So I would say, person, well, the first

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Speaker 5: question I'm gonna answer. You said, like, like, why why

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Speaker 5: do city? So most mobile home parks our grandfather in.

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Speaker 5: A lot of them really popped up in the forties, fifties, sixties,

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Speaker 5: seventies begin because after the war, the government invested into

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Speaker 5: mobile homes. Right after they were using actually old war

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Speaker 5: planes and using the ten That's why most mobile homes

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Speaker 5: are kind of like that that aluminum they ended up had,

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Speaker 5: They had a certain plus of aluminum, so they're like, yo,

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Speaker 5: how can we use this boom we build a house.

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Speaker 5: So that's why mobile homes actually really start going. So

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Speaker 5: in the seventies one, like I said, once hug got

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Speaker 5: involved in the seventies, that kind of depreciated, right, the

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Speaker 5: value of mobile homes because they want to point mobile

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Speaker 5: homes were the place to be, like.

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Speaker 6: You told me, Yeah, it's like it used to be luxury.

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Speaker 5: Yeah, and it was kind of like suburbia. Most mobile

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Speaker 5: homes are in rules like suburbia, right, when you go

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Speaker 5: to a lot of mobile home parks, they look like

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Speaker 5: little I guess you can say suburban neighborhoods. And once

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Speaker 5: when hug got involved, unfortunately I think about the next

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Speaker 5: generation and people start moving back to the city, it

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Speaker 5: just kind of took the value down. So it was

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Speaker 5: it was a need for affordable housing. But with cities,

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Speaker 5: these places were definitely grandfathered in. It's a lot of

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Speaker 5: cities that for example, let's say an owner actually sells

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Speaker 5: a mobile home park, sometimes they're like, yo, that's inhabitable,

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Speaker 5: Like they don't because they don't really want because they

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Speaker 5: don't really benefit from the mobile home park.

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Speaker 6: So when did when did mobile homes get the bad

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Speaker 6: name of like trailer parks and trailer home Like when

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Speaker 6: did that shift? Because you said that at first it

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Speaker 6: was luxury and then it kind of got tarnished and

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Speaker 6: people have bad ideas when they think about that. So like,

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Speaker 6: at what point did that even like you said, like

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Speaker 6: trailer park trash stuff like that, How did that happen?

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Speaker 5: So to my knowledge, it was an article. I'm not

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Speaker 5: sure the exact year, but I think I know it

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Speaker 5: was like in the late sixties and somebody had wrote

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Speaker 5: a newspaper article about trailer trash, and that just kind

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Speaker 5: of stuck. The name just kind of stuck. And then,

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Speaker 5: of course movies play. I think about horror movies, right,

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Speaker 5: eight mile right.

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Speaker 3: I tell you, when y'all said mobile home, the first

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Speaker 3: thing I thought was ozarks Yo.

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Speaker 2: Okay, must be similar to that.

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Speaker 5: And so the ones they show on television or they depict,

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Speaker 5: I look at it. Honestly, it's almost like in the hood, right,

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Speaker 5: they depict like you know what they for example, Chicago,

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Speaker 5: they're going to depict on certain shows that is just

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Speaker 5: the gutter, you know what I mean. But at the

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Speaker 5: same time, it's very nice mobile home. It's a luxury

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Speaker 5: people don't know. In San Francisco they have a mobile

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Speaker 5: home park that literally million dollar mobile homes. The same

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Speaker 5: double wide that I can go purchase for fifteen thousand,

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Speaker 5: it's going for eight million dollars in the area. In

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Speaker 5: San Francisco.

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Speaker 3: I saw will Smith that had a mobile home. It

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Speaker 3: was cost like two million. It was like a two

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Speaker 3: story mobile home. It travels like to movie sets with them.

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Speaker 6: Okay, yeah, that's dope, all right, So now we got

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Speaker 6: the backstory sitting down the second segment we're going to

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Speaker 6: go into some details and go over terms and key definitions.

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Speaker 6: All right, So now we're going to go with some

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Speaker 6: key terms, definitions, things that nature. But before I start,

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Speaker 6: we talked about pricing. But on average, since we're in Illinois,

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Speaker 6: how much can does a mobile home cost? On average?

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Speaker 5: So the average price in Illinois use mobile homes right

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Speaker 5: at seventy five hundred. So if you're looking for something new,

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Speaker 5: like if you get in a brand new home, they

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Speaker 5: can start it rite about like thirty five forty thousand,

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Speaker 5: all right.

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Speaker 3: And one of the things in the negative connotations that

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Speaker 3: go with mobile homes is that they're not safe. So

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Speaker 3: one of the questions I ad was like how safe

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Speaker 3: are mobile homes?

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Speaker 2: Man?

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Speaker 5: I love that question. So so mobile homes are actually

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Speaker 5: since they're built in factories, they're wind tested, they're built

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Speaker 5: to last outstand tornadoes and earthquakes and things like that.

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Speaker 2: Right.

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Speaker 5: The thing is unforcing that you've seen maybe seeing in

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Speaker 5: or so they may show they may show a mobile

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Speaker 5: home park with like three three tops. You know what

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Speaker 5: I'm saying, gone, But it's not like you know, back,

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Speaker 5: I think, what's the movie and whatever it is? But anyway,

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Speaker 5: with the houses flying all the way around and things

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Speaker 5: like that. No, it's not like that they actually built safe.

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Speaker 2: So what's the lifespan? Right?

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Speaker 3: So sometimes, like you know, a tritional brownstone might be

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Speaker 3: built in nineteen oh nine.

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Speaker 2: What's the lifespan of a mobile home?

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Speaker 5: Good question. So the older ones, anything that's built after

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Speaker 5: nineteen ninety up to thirty years. The new ones are

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Speaker 5: built to last within forty five to fifty five years.

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Speaker 6: Okay, okay, So as far as you was explaining that title, right,

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Speaker 6: and it's different from like when you buy a home,

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Speaker 6: like a regular home and you have a deed, So

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Speaker 6: can you explain that the process as far as like

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Speaker 6: the title, it's like it's just it's easy to do it, right. Yeah.

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Speaker 7: Yeah, So as far as a mobile home, like, the

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Speaker 7: mobile home is considered a motor vehicle, so it's kind

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Speaker 7: of like a car. So when you are selling the asset,

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Speaker 7: you're just going down to the DMV or whatever your

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Speaker 7: motor vehicle department is in your state and you're just

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Speaker 7: transferring that title.

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Speaker 6: That's it.

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Speaker 5: Yeah, how long does it take about two weeks to

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Speaker 5: come back?

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Speaker 6: So the closing, what's the typical closing from buying a

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Speaker 6: home and having it up and running late.

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Speaker 7: Yeah, so buy Honestly, it's like a day. I mean,

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Speaker 7: so you buying a home. You of course we're dealing

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Speaker 7: with the park, so we're gonna deal with the park manager.

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Speaker 7: Our buyer has to sign some paperwork with the park.

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Speaker 7: That's about thirty minutes to an hour. That's signing a

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Speaker 7: lease for that lot rent that we talked about earlier.

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Speaker 7: After that, we normally take our buyers, we go to

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Speaker 7: the DMV together, we do that paperwork, transfer the title

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Speaker 7: that's about again a fifteen minute process, and then they'll

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Speaker 7: send a title back in the mail. That normally takes

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Speaker 7: about two weeks, and then the new buyer will get

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Speaker 7: the title, they'll own the asset now, and then we

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Speaker 7: move on to the next deal.

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Speaker 6: What yah.

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Speaker 3: One of the things we were doing some research, it

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Speaker 3: was like, there's a difference between modular homes and manufactured homes.

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Speaker 2: What's the biggest difference.

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Speaker 5: So, modular homes more times you see concrete base where

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Speaker 5: so they have like there are they are more applotted

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Speaker 5: on cement right, whereas a manufacturing home is they're they're

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Speaker 5: literally sitting on cinder blocks. So that's why you see

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Speaker 5: it's called skirting. So you'll see like like uh, some

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Speaker 5: vinyl that's like right around the bottom of that, So

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Speaker 5: that's what covers that. But the house is actually sitting

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Speaker 5: on cinder blocks.

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Speaker 6: So all right, what about insurance, like insurance for a

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Speaker 6: mobile home? Is it different from insurance to a regular home?

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Speaker 6: Is it car insurance? Is it's actually transportation vehicle? Like

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Speaker 6: how does that work?

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Speaker 5: Yeah? You literally can call, you literally can.

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Speaker 7: So when it comes to mobile home insurance is very

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Speaker 7: similar to what you would get for homeowners insurance or

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Speaker 7: renters insurance. So you literally can call like IO Stay

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Speaker 7: Farmed like your normal insurance companies, and you let them

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Speaker 7: know like you would like to get insurance on your

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Speaker 7: mobile home.

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Speaker 5: And the typical cost.

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Speaker 7: For that is about like fourteen fifteen dollars a month,

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Speaker 7: so kind of similar to what you would pay for

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Speaker 7: renters insurance.

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Speaker 3: So what's the process, Because you said, like the park

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Speaker 3: owns the land, right, but you own the actual mobile home.

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Speaker 3: What's the actual process to getting your mobile home into

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Speaker 3: a park.

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Speaker 5: So that process you'll be really looking for a mobile

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Speaker 5: home park owner who's looking for houses, and right now

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Speaker 5: it's like a gold rush, right, like literally now, out

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Speaker 5: of the forty four thousand mobile home parks, four well sorry,

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Speaker 5: four thousand are institutionally owned, meaning like just corporation to

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Speaker 5: own it. But it's really like the wild always because

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Speaker 5: they see the opportunity. Cap rates are crazy on these things.

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Speaker 5: So for them, what's happening is you have literally called

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Speaker 5: like like bird dog watches. They're going to other people's

440
00:20:10,960 --> 00:20:13,399
Speaker 5: parks right from another owner. So let's say Rashad has

441
00:20:13,400 --> 00:20:16,399
Speaker 5: this park right now, he hires me to come in

442
00:20:16,480 --> 00:20:19,480
Speaker 5: Troy's park to scout out some Atroy's houses to take

443
00:20:19,560 --> 00:20:24,960
Speaker 5: back to his park.

444
00:20:25,840 --> 00:20:28,760
Speaker 6: Trust me, bro. So like, what's some of the incentives

445
00:20:28,800 --> 00:20:33,639
Speaker 6: that a park a lot owner would say, live in

446
00:20:33,640 --> 00:20:35,600
Speaker 6: this lot as opposed to living that lot.

447
00:20:36,359 --> 00:20:38,080
Speaker 5: So the one thing, the cooler thing in the newer

448
00:20:38,160 --> 00:20:40,399
Speaker 5: mobile home parks, what they're trying to really do is

449
00:20:40,520 --> 00:20:42,600
Speaker 5: make it a community base because that's one thing about

450
00:20:42,680 --> 00:20:45,119
Speaker 5: mobile home parks get a bad rap. It's a really

451
00:20:45,160 --> 00:20:49,080
Speaker 5: good community because everybody knows each other, right, So like

452
00:20:49,119 --> 00:20:51,080
Speaker 5: for example, it may be you know that minitis in

453
00:20:51,119 --> 00:20:53,200
Speaker 5: the park where you got parts. They got swimming pools

454
00:20:53,240 --> 00:20:54,640
Speaker 5: and basketball.

455
00:20:54,080 --> 00:20:58,600
Speaker 6: Courts in the mobile home park, and yeah, yeah.

456
00:20:58,640 --> 00:21:02,920
Speaker 5: It's like a whole exactly exactly, yeah, and so it's

457
00:21:02,960 --> 00:21:05,200
Speaker 5: really just the amenities, like what can this park provide?

458
00:21:05,320 --> 00:21:05,480
Speaker 2: Right?

459
00:21:05,520 --> 00:21:07,680
Speaker 5: Like like one park, I love it because they give

460
00:21:07,720 --> 00:21:10,320
Speaker 5: beautification awards for whoever has the best line.

461
00:21:10,440 --> 00:21:10,560
Speaker 6: Right.

462
00:21:10,640 --> 00:21:13,119
Speaker 5: Some parks are pretty much like a concrete jungle, are

463
00:21:13,160 --> 00:21:15,280
Speaker 5: on concrete. But a lot of parks are I mean,

464
00:21:15,440 --> 00:21:19,520
Speaker 5: have like huge backyards, gated fences and garages and like

465
00:21:19,560 --> 00:21:21,600
Speaker 5: you'll be surprised at seeing some of the way this

466
00:21:21,600 --> 00:21:22,480
Speaker 5: stuff is developed.

467
00:21:22,560 --> 00:21:25,000
Speaker 6: So all right, so you have a mobile home, you

468
00:21:25,520 --> 00:21:27,920
Speaker 6: put it in a lot, but that a lot has

469
00:21:27,960 --> 00:21:30,120
Speaker 6: a backyard and all that, so you have to pay

470
00:21:30,119 --> 00:21:33,720
Speaker 6: for that backyard. Is that part of just the lot fee?

471
00:21:33,760 --> 00:21:34,600
Speaker 6: Like how does that work?

472
00:21:34,720 --> 00:21:36,960
Speaker 5: Yep, that's part of your lot fee. I look I

473
00:21:36,960 --> 00:21:39,360
Speaker 5: equivalent to almost like taxes, right because I know here

474
00:21:39,359 --> 00:21:41,840
Speaker 5: in Chicago, depending on single family home, you may be

475
00:21:41,880 --> 00:21:45,880
Speaker 5: paying anywhere from three grand and six grand on your taxes. Right,

476
00:21:46,160 --> 00:21:47,919
Speaker 5: I look at it, that's the same as taxes if

477
00:21:47,960 --> 00:21:49,399
Speaker 5: you kind of if you add that number, if you're

478
00:21:49,400 --> 00:21:51,960
Speaker 5: paying three seventy five, you know a month, when you

479
00:21:52,000 --> 00:21:54,120
Speaker 5: look at the yearly, it's pretty much still in line

480
00:21:54,119 --> 00:21:56,520
Speaker 5: with taxes. And some people pay in their cities.

481
00:21:56,600 --> 00:21:59,600
Speaker 3: So in real estate, you know, when people have multiple

482
00:22:00,000 --> 00:22:04,119
Speaker 3: and it's multiple assets, they have property managers. In the

483
00:22:04,160 --> 00:22:07,520
Speaker 3: mobile home game, you'll have park managers. Is it similar

484
00:22:07,520 --> 00:22:09,720
Speaker 3: to what's the differences in those two roles?

485
00:22:10,040 --> 00:22:12,880
Speaker 5: So the park manager's role is really to oversee the

486
00:22:12,960 --> 00:22:15,840
Speaker 5: park for example, you know, make sure they's filling houses,

487
00:22:16,720 --> 00:22:19,040
Speaker 5: you know somebody's not paying their lock rent, making sure

488
00:22:19,080 --> 00:22:22,479
Speaker 5: they send them their notices. A lot of parks have staff,

489
00:22:22,560 --> 00:22:25,399
Speaker 5: so they have other handymen on the park. But the

490
00:22:25,480 --> 00:22:28,880
Speaker 5: cool thing about it is they're not really most parks don't.

491
00:22:28,880 --> 00:22:31,919
Speaker 5: They do rentals, but they're not let's just say, like

492
00:22:32,119 --> 00:22:33,440
Speaker 5: fixing everything in the house.

493
00:22:33,560 --> 00:22:34,800
Speaker 2: Should you say that? Okay?

494
00:22:35,440 --> 00:22:37,640
Speaker 6: So all right, So there's two types of communities, right,

495
00:22:37,720 --> 00:22:41,680
Speaker 6: there's age restricted in family communities. Yes, can you explain that?

496
00:22:42,600 --> 00:22:42,840
Speaker 1: Yeah?

497
00:22:42,920 --> 00:22:46,080
Speaker 7: So all age community would be like you know, eighteen

498
00:22:46,240 --> 00:22:48,960
Speaker 7: to really all ages. The restricted ones is the more

499
00:22:49,240 --> 00:22:51,480
Speaker 7: they're normally fifty five and older. So it's more so

500
00:22:51,600 --> 00:22:55,800
Speaker 7: retirement communities. And you normally see those like down south

501
00:22:55,880 --> 00:23:01,840
Speaker 7: Florida West Coast, like Arizona, California, Las Vegas, like you'll

502
00:23:01,880 --> 00:23:05,760
Speaker 7: see the more restricted communities in those areas Okay.

503
00:23:05,560 --> 00:23:08,080
Speaker 6: So how many people, like how many homes are in

504
00:23:08,160 --> 00:23:09,879
Speaker 6: a typical community.

505
00:23:10,200 --> 00:23:12,639
Speaker 5: So it varies. It could be anywhere from thirty upwards

506
00:23:12,680 --> 00:23:15,480
Speaker 5: to five hundred homes. It really just depends on that

507
00:23:15,520 --> 00:23:16,240
Speaker 5: particular part.

508
00:23:16,800 --> 00:23:18,919
Speaker 3: And you said that they don't depart, manager doesn't come

509
00:23:18,960 --> 00:23:22,000
Speaker 3: around to collect rent, right, So what's the process when

510
00:23:22,040 --> 00:23:22,880
Speaker 3: somebody doesn't pay?

511
00:23:22,920 --> 00:23:24,320
Speaker 2: Is it the eviction process?

512
00:23:24,400 --> 00:23:27,159
Speaker 3: Are the deadlines the same as state regulator or is

513
00:23:27,160 --> 00:23:28,280
Speaker 3: it faster for mobile homes?

514
00:23:28,720 --> 00:23:32,000
Speaker 5: Honestly, from what we see, parks don't play no games.

515
00:23:32,720 --> 00:23:34,439
Speaker 5: Like I'm gonna say this, Like most parks that we

516
00:23:34,520 --> 00:23:36,879
Speaker 5: deal with, they give you ten days if you get

517
00:23:36,920 --> 00:23:38,680
Speaker 5: a ten day notice, and then after that, I mean,

518
00:23:38,720 --> 00:23:42,040
Speaker 5: you can definitely pay. But if you're past that thirty days,

519
00:23:42,160 --> 00:23:45,400
Speaker 5: they got paperwork already and they're starting that eviction process.

520
00:23:45,880 --> 00:23:46,200
Speaker 2: Wow.

521
00:23:46,400 --> 00:23:50,240
Speaker 6: So all right, what's the maintenance on mobile homes? Is

522
00:23:50,280 --> 00:23:51,880
Speaker 6: it car maintenance?

523
00:23:52,160 --> 00:23:52,399
Speaker 2: Is it?

524
00:23:52,560 --> 00:23:54,840
Speaker 6: House maintenance? Is the combination of bob? You have to

525
00:23:54,920 --> 00:23:58,520
Speaker 6: change the oil? Like, what's the deal with that?

526
00:23:58,600 --> 00:23:59,560
Speaker 2: My time in bow Bro?

527
00:24:01,760 --> 00:24:03,760
Speaker 5: So, I mean literally like regular house maintenance.

528
00:24:03,840 --> 00:24:03,919
Speaker 6: Right.

529
00:24:03,960 --> 00:24:06,679
Speaker 5: The cool thing about a mobile home all the materials

530
00:24:06,760 --> 00:24:10,399
Speaker 5: are much cheaper than a traditional house, right, breaking mortar

531
00:24:10,600 --> 00:24:13,679
Speaker 5: because you're dealing with most houses come with you know,

532
00:24:14,119 --> 00:24:17,359
Speaker 5: vinyl floors. They're coming with they say wall board instead

533
00:24:17,359 --> 00:24:20,760
Speaker 5: of dry wall. So most of your materials are cheaper.

534
00:24:21,359 --> 00:24:22,919
Speaker 5: So like mainess, like I tell people, if you're doing

535
00:24:23,000 --> 00:24:25,760
Speaker 5: a full rehab and a mobile, let's say a full

536
00:24:25,920 --> 00:24:27,320
Speaker 5: gut twelve grand.

537
00:24:29,080 --> 00:24:33,280
Speaker 6: So speaking of that, so yeah, you said fix fix out,

538
00:24:33,320 --> 00:24:36,920
Speaker 6: So I took some notes. Vinyl, it's real rock, it's

539
00:24:38,160 --> 00:24:42,600
Speaker 6: foam installated cinder block. So like, all right, you're you're

540
00:24:42,680 --> 00:24:47,160
Speaker 6: fixing up and your your rebuilding a mobile home? Right,

541
00:24:47,920 --> 00:24:49,879
Speaker 6: how does that work? Like you get a contractor to

542
00:24:49,920 --> 00:24:52,600
Speaker 6: do that, and like how like what's the how do

543
00:24:52,600 --> 00:24:54,400
Speaker 6: you do that? Like is it just like a regular.

544
00:24:54,040 --> 00:24:56,720
Speaker 5: Home or so you can here's the thing. You can

545
00:24:56,760 --> 00:25:00,760
Speaker 5: get a contractor. But it's a lot of people, a

546
00:25:00,760 --> 00:25:03,359
Speaker 5: lot of mobile homes that use special contractors. Right, they

547
00:25:03,440 --> 00:25:05,719
Speaker 5: just do mobile homes because a lot of the main well,

548
00:25:05,800 --> 00:25:08,680
Speaker 5: the maintenance a lot of times cheaper, and the materials

549
00:25:08,680 --> 00:25:11,080
Speaker 5: are cheaper. If I take somebody who has been doing

550
00:25:11,200 --> 00:25:13,920
Speaker 5: all single family houses rehab, he comes to my mobile home,

551
00:25:13,920 --> 00:25:15,280
Speaker 5: he trust me, my price is gonna be a little

552
00:25:15,280 --> 00:25:18,520
Speaker 5: bit highercause what he used to right. But at the

553
00:25:18,520 --> 00:25:20,760
Speaker 5: same time we call him handyman. We got like a

554
00:25:20,800 --> 00:25:23,639
Speaker 5: team of literally five guys, and when we need a

555
00:25:23,680 --> 00:25:25,760
Speaker 5: rehab we call them. They go ahead and do it

556
00:25:25,800 --> 00:25:28,239
Speaker 5: in the court. And the biggest thing for it's like, man,

557
00:25:28,240 --> 00:25:30,280
Speaker 5: shout out to my guy packet Hood of States. But

558
00:25:30,480 --> 00:25:32,679
Speaker 5: just like we keep it clean, safe and functional. That's

559
00:25:32,720 --> 00:25:34,600
Speaker 5: our biggest thing, and that's his. We actually learned that

560
00:25:34,640 --> 00:25:37,960
Speaker 5: model from him. Clean safe, clean, safe and functional and

561
00:25:38,400 --> 00:25:40,320
Speaker 5: longest that's our biggest thing. Like we're not coming in

562
00:25:40,359 --> 00:25:42,159
Speaker 5: there trying to do a bogus job because you have

563
00:25:42,280 --> 00:25:44,800
Speaker 5: people mobile homes don't have inspections really like that.

564
00:25:45,720 --> 00:25:46,480
Speaker 6: Can you talk about that?

565
00:25:46,640 --> 00:25:50,000
Speaker 5: Yeah, So it's really like again, since it's a it's

566
00:25:50,040 --> 00:25:53,960
Speaker 5: a motor vehicle, asset is not as strenuous as a

567
00:25:54,000 --> 00:25:58,280
Speaker 5: house like appraisal process exactly exactly. And that's why for us,

568
00:25:58,280 --> 00:26:00,119
Speaker 5: it's like, yo, we add in his value because you're

569
00:26:00,119 --> 00:26:01,880
Speaker 5: not gonna let nobody come in and tell us like, nah, wait,

570
00:26:01,920 --> 00:26:05,639
Speaker 5: this is only worth four grant Like no.

571
00:26:09,000 --> 00:26:11,840
Speaker 6: So as far as like getting started, how much money

572
00:26:11,840 --> 00:26:15,600
Speaker 6: do you need to get started in the mobile home

573
00:26:16,119 --> 00:26:17,200
Speaker 6: real estate industry?

574
00:26:18,240 --> 00:26:20,879
Speaker 7: I mean really, we always tell our students like little

575
00:26:20,920 --> 00:26:23,560
Speaker 7: to no money. It really just depends on your market

576
00:26:23,800 --> 00:26:26,679
Speaker 7: and really just how you're prospecting. You can literally like

577
00:26:26,720 --> 00:26:28,880
Speaker 7: for me and Buyron. We don't really touch anything over

578
00:26:28,960 --> 00:26:31,520
Speaker 7: five thousand. That's the strategy that we have created and

579
00:26:31,560 --> 00:26:34,359
Speaker 7: stuck with. But even in like the higher markets, like

580
00:26:34,400 --> 00:26:37,000
Speaker 7: we always say, like you can wholesale mobile homes, like

581
00:26:37,080 --> 00:26:40,000
Speaker 7: you can still literally go in and still we call

582
00:26:40,040 --> 00:26:42,480
Speaker 7: it like being that helper in the situation and helping

583
00:26:42,480 --> 00:26:45,320
Speaker 7: a family to sell their home. And then again you're

584
00:26:45,359 --> 00:26:47,400
Speaker 7: going in with no money down. You're just now just

585
00:26:47,560 --> 00:26:49,919
Speaker 7: marketing the home and then taking the profit off that

586
00:26:50,000 --> 00:26:51,800
Speaker 7: and then still making sure that they get the amount

587
00:26:51,800 --> 00:26:52,479
Speaker 7: that they're looking for.

588
00:26:52,640 --> 00:26:55,040
Speaker 6: So how does the whole sealing Because I know anybody's

589
00:26:55,040 --> 00:26:56,920
Speaker 6: not familiar with whole selling real estate. It's like you're

590
00:26:56,920 --> 00:26:58,800
Speaker 6: pretty much like the middle man. You never actually own

591
00:26:58,880 --> 00:27:00,840
Speaker 6: the home, right, but you can make a profit. It's

592
00:27:00,880 --> 00:27:03,119
Speaker 6: like if Troy wants to buy a home and you

593
00:27:03,200 --> 00:27:05,160
Speaker 6: want to swim aself home, you want to buy a home,

594
00:27:05,440 --> 00:27:07,080
Speaker 6: and then I can come in and be like the

595
00:27:07,119 --> 00:27:10,040
Speaker 6: middle person and then make like ten thousand and fifteen thousand,

596
00:27:10,080 --> 00:27:12,360
Speaker 6: and I don't wait any work there's no risk, it's

597
00:27:12,359 --> 00:27:14,879
Speaker 6: no money that I put up anything. Is it the

598
00:27:14,880 --> 00:27:16,520
Speaker 6: same process for mobile homes?

599
00:27:16,720 --> 00:27:19,760
Speaker 5: Yes, the exact same process. You know, you can put

600
00:27:19,760 --> 00:27:22,200
Speaker 5: them on the contract. And the reality of it right

601
00:27:22,240 --> 00:27:27,920
Speaker 5: now in this market is really no competition that it's wide.

602
00:27:28,119 --> 00:27:30,919
Speaker 5: Like we're in Illinois. We only like that. We personally

603
00:27:30,960 --> 00:27:34,320
Speaker 5: we know of ten other investors, but we've only met

604
00:27:34,840 --> 00:27:38,680
Speaker 5: two and out of those and the newer ones are

605
00:27:38,680 --> 00:27:39,400
Speaker 5: our students.

606
00:27:39,600 --> 00:27:39,919
Speaker 6: Wow.

607
00:27:40,440 --> 00:27:43,120
Speaker 3: So as you're talking, I'm thinking to myself, right, yeah,

608
00:27:43,119 --> 00:27:45,960
Speaker 3: it's cool to get the mobile home, right, but you

609
00:27:46,000 --> 00:27:48,960
Speaker 3: said that the person that owns the land is the

610
00:27:48,960 --> 00:27:51,280
Speaker 3: one who makes the profit. How do I go about

611
00:27:51,320 --> 00:27:52,960
Speaker 3: getting the land? Do I have to buy a lot

612
00:27:53,040 --> 00:27:55,040
Speaker 3: and then get licensed to have mobile homes on it?

613
00:27:55,119 --> 00:27:55,199
Speaker 8: Like?

614
00:27:55,480 --> 00:27:56,440
Speaker 2: What's that process?

615
00:27:56,680 --> 00:27:58,359
Speaker 5: So that's dope. So for example, let's say we get

616
00:27:58,359 --> 00:27:59,640
Speaker 5: a lot of people like Yo, I got like thirty

617
00:27:59,720 --> 00:28:01,679
Speaker 5: acres down in Mississippi, Like, can I put homes on it?

618
00:28:01,680 --> 00:28:04,640
Speaker 5: It's like, yes, yes you can. You know, like honestly,

619
00:28:04,760 --> 00:28:07,600
Speaker 5: if it's your land. Yeah, I mean the biggest thing

620
00:28:07,640 --> 00:28:10,600
Speaker 5: is like, for example, let's say you just got raw land, right,

621
00:28:10,720 --> 00:28:12,359
Speaker 5: so yeah, now you're gonna have to get septic, and

622
00:28:12,400 --> 00:28:14,359
Speaker 5: you're gonna have to get the whale system installed. On

623
00:28:14,440 --> 00:28:15,960
Speaker 5: the high end, that can run you up to like

624
00:28:15,960 --> 00:28:17,760
Speaker 5: twenty two thousand. On the low end, you get all

625
00:28:17,760 --> 00:28:20,440
Speaker 5: that installed. I hope you stay under ten. That'll be perfect.

626
00:28:20,440 --> 00:28:23,280
Speaker 5: But let's say twelve five right now, moving the house.

627
00:28:23,320 --> 00:28:26,480
Speaker 5: Depending on where you're moving it from, a lot of

628
00:28:26,480 --> 00:28:29,200
Speaker 5: moving companies start off right about that thousand range. Longest

629
00:28:29,200 --> 00:28:31,479
Speaker 5: it's under one hundred miles, depending on what it is.

630
00:28:31,680 --> 00:28:35,640
Speaker 5: Let's say on a high end, your move is five thousand. Right,

631
00:28:35,880 --> 00:28:38,600
Speaker 5: you still look, let's say you all in thirty thousand, right,

632
00:28:38,680 --> 00:28:39,920
Speaker 5: Now you go get a house. You wanna get a

633
00:28:39,960 --> 00:28:42,200
Speaker 5: brand new house. Now you all in. Let's say you

634
00:28:42,200 --> 00:28:45,200
Speaker 5: got another forty thousand, right, you're still under one hundred

635
00:28:45,200 --> 00:28:48,200
Speaker 5: thousand dollars. So you still under one hundred thousand dollars, right,

636
00:28:48,320 --> 00:28:50,320
Speaker 5: and think about this. Now you can become the bank.

637
00:28:50,440 --> 00:28:50,560
Speaker 6: Right.

638
00:28:50,560 --> 00:28:53,440
Speaker 5: You can either lease that land out forever or you

639
00:28:53,440 --> 00:28:55,560
Speaker 5: can just either package that up and now sell the

640
00:28:55,640 --> 00:28:56,320
Speaker 5: land in the house.

641
00:28:57,480 --> 00:29:02,400
Speaker 6: Okay, So for by do you buy it in an

642
00:29:02,720 --> 00:29:05,400
Speaker 6: LLC or you just buy it like as a regular person, Like,

643
00:29:05,680 --> 00:29:06,320
Speaker 6: how do you do that?

644
00:29:06,760 --> 00:29:08,760
Speaker 5: So when we started with buying our person. But now

645
00:29:08,840 --> 00:29:10,560
Speaker 5: we purchase all our homes in LLC.

646
00:29:11,240 --> 00:29:13,200
Speaker 6: Well just from protection standpoint.

647
00:29:12,960 --> 00:29:14,640
Speaker 5: Yes, and then from there we go ahead roll them

648
00:29:14,680 --> 00:29:18,080
Speaker 5: in a trusty. Can you talk about that the trust Yeah,

649
00:29:18,120 --> 00:29:20,000
Speaker 5: it's really just keeping your name off. We don't want

650
00:29:20,120 --> 00:29:22,760
Speaker 5: people know how many assets we have. I mean, we

651
00:29:22,840 --> 00:29:24,760
Speaker 5: just learned from a mentor that hey, this is just

652
00:29:24,800 --> 00:29:25,680
Speaker 5: an extra layer of.

653
00:29:25,640 --> 00:29:27,320
Speaker 2: Protection for us small businessman.

654
00:29:28,800 --> 00:29:32,000
Speaker 6: You I saw on your Instagram page you said one proper.

655
00:29:32,080 --> 00:29:34,160
Speaker 6: You can get one proper I guess like in the area,

656
00:29:34,240 --> 00:29:36,320
Speaker 6: well somewhere I don't know where in America, but you

657
00:29:36,360 --> 00:29:38,760
Speaker 6: can get one property for forty five thousand dollars and

658
00:29:38,760 --> 00:29:41,000
Speaker 6: that could generate an income of eight hundred dollars a month.

659
00:29:41,080 --> 00:29:43,840
Speaker 6: Let's say, well, you can get nine mobile homes for

660
00:29:43,840 --> 00:29:46,280
Speaker 6: forty five thousand and that generates an income of twenty

661
00:29:46,280 --> 00:29:53,920
Speaker 6: seven hundred dollars a month. That's pretty impressive. Yeah, profit margins.

662
00:29:53,520 --> 00:30:00,720
Speaker 7: Yeah, yeah, so I actually made that post right first,

663
00:30:00,760 --> 00:30:04,120
Speaker 7: lady at mobile homes, But I definitely did that just

664
00:30:04,120 --> 00:30:06,160
Speaker 7: to kind of show the margins as far as you know.

665
00:30:06,200 --> 00:30:08,520
Speaker 7: When we say like mobile homes is the highest cash

666
00:30:08,560 --> 00:30:10,800
Speaker 7: on cash return on any form of real estate. So

667
00:30:10,880 --> 00:30:13,600
Speaker 7: in that specific example, I kind of used the numbers

668
00:30:13,600 --> 00:30:15,560
Speaker 7: that I got from one of my relative friends who

669
00:30:15,680 --> 00:30:18,560
Speaker 7: end up purchasing a property for forty five thousand. In

670
00:30:18,600 --> 00:30:20,800
Speaker 7: that situation, she was a landlord. They were renting it

671
00:30:20,880 --> 00:30:24,040
Speaker 7: out for eight thousand. So in that case, again we

672
00:30:24,080 --> 00:30:26,840
Speaker 7: always look at long term, the sixty month terms, because

673
00:30:26,960 --> 00:30:31,120
Speaker 7: we normally put our tenant buyers on seller finance for

674
00:30:31,160 --> 00:30:33,600
Speaker 7: sixty months. So in that case, if she's making in

675
00:30:33,640 --> 00:30:36,160
Speaker 7: five years, she made a little bit over forty five thousand,

676
00:30:36,240 --> 00:30:38,920
Speaker 7: so kind of close to like forty forty eight thousand mark,

677
00:30:39,120 --> 00:30:41,080
Speaker 7: So she made her money back. But I took that

678
00:30:41,120 --> 00:30:42,920
Speaker 7: same number and I was like, look, let me compare

679
00:30:42,960 --> 00:30:44,640
Speaker 7: that forty five thousand to what you can do in

680
00:30:44,680 --> 00:30:47,320
Speaker 7: a mobile home game. So with forty five thousand in

681
00:30:47,360 --> 00:30:49,680
Speaker 7: the mobile home game, again, if you're sticking at that

682
00:30:49,760 --> 00:30:52,840
Speaker 7: five thousand dollars range that myself and Byron stick to,

683
00:30:53,840 --> 00:30:57,200
Speaker 7: then yeah, nine houses, nine houses for forty five thousand.

684
00:30:57,320 --> 00:30:57,520
Speaker 2: Right.

685
00:30:58,280 --> 00:31:00,720
Speaker 7: Remember we talked a little bit about earlier about that

686
00:31:00,800 --> 00:31:04,360
Speaker 7: seller finance putting our attendant buyers on payments. Now, if

687
00:31:04,360 --> 00:31:06,800
Speaker 7: you're putting them on payments for a minimum of three

688
00:31:06,920 --> 00:31:09,760
Speaker 7: hundred dollars a month. Mind you, we're no landlords in

689
00:31:09,760 --> 00:31:12,920
Speaker 7: this situation, so we have no landlord responsibility.

690
00:31:12,920 --> 00:31:13,840
Speaker 5: We're playing the bank.

691
00:31:14,480 --> 00:31:17,360
Speaker 7: So in that three hundred dollars a month or nine homes,

692
00:31:17,440 --> 00:31:19,840
Speaker 7: you're looking at twenty seven hundred dollars a month again

693
00:31:19,880 --> 00:31:23,920
Speaker 7: in cash flow, so you already tripling your cash flow profit.

694
00:31:24,200 --> 00:31:26,000
Speaker 7: So now let's look at five years. How much you're

695
00:31:26,000 --> 00:31:27,959
Speaker 7: looking at make in five years over it's like over

696
00:31:27,960 --> 00:31:29,200
Speaker 7: one hundred and sixty thousand.

697
00:31:29,280 --> 00:31:29,760
Speaker 5: I can't remember.

698
00:31:29,760 --> 00:31:31,800
Speaker 7: I think it's one hundred and sixty two thousand. So

699
00:31:31,880 --> 00:31:35,000
Speaker 7: you've tripled your initial investment investing in mobile homes. So

700
00:31:35,040 --> 00:31:37,320
Speaker 7: then it's like when people always ask us, like why

701
00:31:37,360 --> 00:31:38,719
Speaker 7: do y'all stick to mobile homes?

702
00:31:38,880 --> 00:31:39,440
Speaker 5: That's why?

703
00:31:40,000 --> 00:31:45,440
Speaker 2: Right shemer That was impressible.

704
00:31:47,240 --> 00:31:49,520
Speaker 6: Yeah, in the next segment, we're going to talk about education,

705
00:31:49,800 --> 00:31:51,400
Speaker 6: and we're going to talk about scaling and a few

706
00:31:51,440 --> 00:31:53,080
Speaker 6: other things in the last one. All right, So in

707
00:31:53,120 --> 00:31:55,600
Speaker 6: the last segment, we're going to talk about education scaling.

708
00:31:55,640 --> 00:31:58,000
Speaker 6: But before I start, I want I had a quick question.

709
00:31:58,080 --> 00:32:00,760
Speaker 6: So all right, there's three different like there's different ways

710
00:32:01,120 --> 00:32:03,920
Speaker 6: like real suspicional real estate, you like buying whole and

711
00:32:04,480 --> 00:32:07,360
Speaker 6: make money off of cash flow, or you can you know,

712
00:32:07,440 --> 00:32:10,240
Speaker 6: flip properties, right. So I know right now your main

713
00:32:10,280 --> 00:32:14,600
Speaker 6: focus is flipping. But is there is there profit in

714
00:32:14,760 --> 00:32:19,120
Speaker 6: buying and holding and getting like cash flow from mobile

715
00:32:19,120 --> 00:32:20,080
Speaker 6: homes as well? Oh?

716
00:32:20,160 --> 00:32:22,280
Speaker 5: Man, definitely. For example, Man, I got to give a

717
00:32:22,320 --> 00:32:24,160
Speaker 5: shout out to one of our students, Herald, but he's

718
00:32:24,200 --> 00:32:26,840
Speaker 5: down in Georgia and he purchased a mobile home for

719
00:32:26,840 --> 00:32:29,320
Speaker 5: fifteen hundred, put a thousand into it. And what he

720
00:32:29,360 --> 00:32:31,960
Speaker 5: did was he's an opportunity with truckers. He understand a

721
00:32:32,000 --> 00:32:34,360
Speaker 5: lot of guys say extended stays. So he running out

722
00:32:34,400 --> 00:32:37,480
Speaker 5: per room five hundred dollars per room of his mobile home. Right,

723
00:32:37,680 --> 00:32:39,280
Speaker 5: So think about it. He got his money back in

724
00:32:39,360 --> 00:32:41,680
Speaker 5: like three months. Now he's making all profit. He just

725
00:32:41,680 --> 00:32:44,040
Speaker 5: created one thousand dollars cash flow. Well I would say

726
00:32:44,040 --> 00:32:45,720
Speaker 5: this he paid I think his lot runs like three

727
00:32:45,760 --> 00:32:49,480
Speaker 5: seventy five right right in that right around that range.

728
00:32:49,520 --> 00:32:51,280
Speaker 5: But at the same time you still bring it in clo.

729
00:32:51,440 --> 00:32:54,520
Speaker 5: You know, over six hundred bucks a month just cash flow.

730
00:32:54,640 --> 00:32:57,880
Speaker 3: So the lot feed plus whatever your charge for rent,

731
00:32:57,920 --> 00:32:59,520
Speaker 3: that's what gives you the total rent price.

732
00:32:59,680 --> 00:33:02,600
Speaker 6: Right, Okay, So what's your what's what's your vision to scale,

733
00:33:02,640 --> 00:33:06,120
Speaker 6: like what's your what's your plans on scaling for your

734
00:33:06,160 --> 00:33:08,000
Speaker 6: for your personal business brand?

735
00:33:08,360 --> 00:33:11,560
Speaker 5: And so we definitely want mobile home parks. So the

736
00:33:11,720 --> 00:33:15,080
Speaker 5: larger goal with that is to get an acquisition where

737
00:33:15,080 --> 00:33:18,040
Speaker 5: we find somebody who has a portfolio ten twenty mobile

738
00:33:18,040 --> 00:33:20,200
Speaker 5: home parks just looking kind of just to retire, right,

739
00:33:21,120 --> 00:33:23,920
Speaker 5: and just pretty much purchase that portfolio and just build

740
00:33:23,920 --> 00:33:25,920
Speaker 5: from there and really open up the floodgates for more

741
00:33:25,920 --> 00:33:27,520
Speaker 5: people to invest in mobile homes.

742
00:33:27,680 --> 00:33:30,080
Speaker 3: Is that just something like just being in an industry,

743
00:33:30,120 --> 00:33:32,120
Speaker 3: you'll know, is there like a database where you can see,

744
00:33:32,160 --> 00:33:35,200
Speaker 3: like these people own this amount of mobile parks?

745
00:33:35,400 --> 00:33:37,040
Speaker 5: Right, So we've been doing our homework. We got the

746
00:33:37,080 --> 00:33:40,760
Speaker 5: top one hundred companies that do it. Literally to be

747
00:33:40,800 --> 00:33:43,080
Speaker 5: in the top one hundred, if you own over fifteen

748
00:33:43,120 --> 00:33:45,200
Speaker 5: mobile home parks, you are in the top one hundred

749
00:33:45,440 --> 00:33:46,200
Speaker 5: of the companies.

750
00:33:47,320 --> 00:33:49,240
Speaker 6: How much does it cost for mobile home park?

751
00:33:49,600 --> 00:33:52,120
Speaker 5: So now the prices went up. I would say on

752
00:33:52,200 --> 00:33:55,120
Speaker 5: an average for fifty paths plus, you're looking at it

753
00:33:55,120 --> 00:33:57,360
Speaker 5: about like one point two depending on the region, one

754
00:33:57,360 --> 00:34:00,480
Speaker 5: point two mill two million, really depends on the region.

755
00:34:00,520 --> 00:34:00,600
Speaker 8: Right.

756
00:34:00,640 --> 00:34:02,800
Speaker 5: I've seen parks for that has one hundred pass that

757
00:34:02,920 --> 00:34:04,400
Speaker 5: was going for one point two mil.

758
00:34:04,960 --> 00:34:08,360
Speaker 6: The area that's designated for this exactly how much revenue

759
00:34:08,360 --> 00:34:09,279
Speaker 6: can that bring it on a year?

760
00:34:09,960 --> 00:34:10,280
Speaker 2: Wow?

761
00:34:10,360 --> 00:34:14,840
Speaker 5: So man, that's a great question. So for example, I

762
00:34:14,840 --> 00:34:16,480
Speaker 5: look at it. If you have let's say you have

763
00:34:16,880 --> 00:34:20,000
Speaker 5: two hundred pass right, and then you're getting a you're

764
00:34:20,000 --> 00:34:24,440
Speaker 5: getting four hundred bucks per path. Normally most for a

765
00:34:24,480 --> 00:34:28,440
Speaker 5: park to be occupied, fully occupied, you're looking at a

766
00:34:28,480 --> 00:34:30,800
Speaker 5: good park. Ninety five percent, right, ninety five percent of

767
00:34:30,840 --> 00:34:33,520
Speaker 5: those houses are field. So if you look at your castle,

768
00:34:33,520 --> 00:34:35,000
Speaker 5: I might pull out the calculated real quick.

769
00:34:35,520 --> 00:34:36,200
Speaker 6: I heard you do, but.

770
00:34:37,800 --> 00:34:38,640
Speaker 2: I'll run in my head.

771
00:34:41,440 --> 00:34:44,080
Speaker 5: But yeah, I mean I'm trying to think. But the

772
00:34:44,160 --> 00:34:44,640
Speaker 5: cast law.

773
00:34:45,000 --> 00:34:45,160
Speaker 2: I know.

774
00:34:45,239 --> 00:34:47,359
Speaker 5: I had some some parks that pretty much, but they're

775
00:34:47,400 --> 00:34:49,799
Speaker 5: like netting per month in the you know, in six

776
00:34:49,880 --> 00:34:52,680
Speaker 5: figure range and just net after everything.

777
00:34:53,600 --> 00:34:56,520
Speaker 6: So I mean literally a lot of like after a year,

778
00:34:56,560 --> 00:34:58,439
Speaker 6: you can probably get you a million back. Oh yeah,

779
00:34:58,600 --> 00:35:00,759
Speaker 6: and then one hundred thousand and let's say on the

780
00:35:00,800 --> 00:35:03,239
Speaker 6: low end, one hundred thousand a month you'd be making

781
00:35:03,320 --> 00:35:06,360
Speaker 6: from that. Yes, but like maintenance, you gotta have like

782
00:35:06,400 --> 00:35:08,160
Speaker 6: maintenance up keeping all that maintenance.

783
00:35:08,200 --> 00:35:10,000
Speaker 5: Guys, you may if you have a park manager that

784
00:35:10,080 --> 00:35:13,000
Speaker 5: comes with your costs. Of course taxes, right, But a

785
00:35:13,080 --> 00:35:15,319
Speaker 5: lot of times if you the thing what I've learned

786
00:35:15,320 --> 00:35:17,920
Speaker 5: about in the mobile home park, if you give your uh,

787
00:35:18,440 --> 00:35:21,279
Speaker 5: if you give the tenants more responsibility, so they're responsible

788
00:35:21,320 --> 00:35:23,560
Speaker 5: for water, they're responsible, that's how you cut costs.

789
00:35:23,680 --> 00:35:25,160
Speaker 2: Also, like the utilities up to them.

790
00:35:25,360 --> 00:35:26,919
Speaker 5: Yes, right, okay, yes, dope.

791
00:35:28,880 --> 00:35:34,920
Speaker 4: My graduates from my school being forced back drop drop, Mike,

792
00:35:35,040 --> 00:35:37,160
Speaker 4: drop back drop drop.

793
00:35:47,560 --> 00:35:51,160
Speaker 9: An illegal alien from Guatemala charged with raping a child

794
00:35:51,239 --> 00:35:55,040
Speaker 9: in Massachusetts. An MS thirteen gang member from El Salvador

795
00:35:55,320 --> 00:35:59,400
Speaker 9: accused of murdering a Texas man of Venezuelan charged with

796
00:35:59,520 --> 00:36:03,360
Speaker 9: filming and selling child pornography in Michigan. These are just

797
00:36:03,520 --> 00:36:07,240
Speaker 9: some of the heinous migrant criminals caught because of President

798
00:36:07,280 --> 00:36:10,839
Speaker 9: Donald J. Trump's leadership. I'm Christy Noman, the United States

799
00:36:10,880 --> 00:36:15,640
Speaker 9: Secretary of Homeland Security. Under President Trump, attempted illegal border

800
00:36:15,719 --> 00:36:19,239
Speaker 9: crossings are at the lowest levels ever recorded, and over

801
00:36:19,360 --> 00:36:22,520
Speaker 9: one hundred thousand illegal aliens have been arrested. If you

802
00:36:22,640 --> 00:36:26,440
Speaker 9: are here illegally, your next you will be fine nearly

803
00:36:26,560 --> 00:36:30,520
Speaker 9: one thousand dollars a day, imprisoned and deported, you will

804
00:36:30,640 --> 00:36:34,239
Speaker 9: never return. But if you register using our CBP home

805
00:36:34,320 --> 00:36:37,640
Speaker 9: app and leave now, you could be allowed to return legally.

806
00:36:38,040 --> 00:36:42,720
Speaker 9: Do what's right, leave now. Under President Trump America's laws,

807
00:36:42,960 --> 00:36:45,400
Speaker 9: border and families will be protected.

808
00:36:45,480 --> 00:36:47,600
Speaker 2: Sponsored by the United States Department of Homeland Security,