EYL #41 Ride or Die

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States

Sponsored by the United States Department of Homeland Security.

All right, guys, Welcome back EYL Hometown Heroes Edition Chicago.

Town's Going On Now.

Shot.

Shout out to the shot, Shout out to the west side, to the south side, north side, East side, every side we was at itself right now, Yeah, in the south side right now for sure?

Again for sure what area we.

At specifically, So this be in Washington Park, Washington Park, shout out to Washington Park.

Those y'all know.

Yeah, so we got we got a very special audition today. But before we start, we got some housekeeping items we want to make you guys aware of. It's not too late to register for our workshop, our first ever workshop on ten seventeen. So as we said before, every single month we're going to be having a workshop in person but also live stream for anybody anywhere in the world. And it's going to be a different eyl guest is

Right.

It's interesting because I met you at the event, our networking event. It was amazing, by the way, and I was yeah, and you was. You was telling me about it, and you know, I was thinking, like, this is just an interesting thing. Can we talk about real estate a lot? But we've never spoken or covered mobile homes, and you was actually educating me because a lot of people, especially where we're from the Northeast, we have derogatory, which I

Oh, yeah, for sure, Okay.

So Man, So basically, I've been trying to do real estate for four or five years, right, And when I tell you, like capital credit, I was having a lot of issues with that. And so, Man, March third of twenty seventeen, that was a day I was fired from work.

It's a great day, Yeah, great day.

What kind of job? What kind of jobs?

So I was in the transptation industry.

I was a driver manager and so man, for that time, I'm like, man, I'm still getting real estate. So Man, I was actually and I was in a life coaching program at that time to become a life coach. So I will say that helped me up for to be where I'm at now, and that's summer. I hustled, hustled, like I'm just trying to get into it. At the time, man, I was driving left to pay the bills, and I was always listening to podcasts, and this particular day, I

Send it to her.

And then so I was listening to the podcast and that podcast had so happened to be on mobile home investment, like he said, And the biggest thing that I learned from that podcast was you can literally get started with very minimum capital.

Credit does not have to be good.

And those are the two things that I feel like at the time, because me and Byron were new investors, those were the things that were kind of holding us back. So once I heard that, I was like, Okay, we need to get into this niche of mobile homes. So I came home, I told Byron, like, look, were about to get into these mobile homes, Like I know, we trying to get these three flats right now here in Chicago.

That's means I mean, especially as a couple doing it, y'all supporting each other, which we don't see it like this is the first couple that we've seen on our podcast. What did it take to have a belief in each other? Did y'all always trust each other?

Like?

How did that develop man?

Double question?

So the biggest thing from myself going through that journey, I learned a lot. I took a lot of l's, went broke, mest of my credit card repoll like all the worse right, And so she had my back. She was the one person that out of everything from family, friends, that have my back. So it was like, Yo, with this knowledge, like I got I have nothing but trust

So all right, So okay, so you listen to the podcast you said it to. What made you say, Okay, this is something that we because you both I lost your jobs, right, so what made you say, Okay, this is something that we're gonna do full time? And what was your first deal, Like, what was the first thing that got you into, like buying your first mobile home?

Man, So honestly, I had nothing else to lose, Like I had took so many l's.

I'm like, yo, this gotta work. One of these gonna work.

So so you know, we got this scavenging.

Man.

We just took out a high interest loan for ten K, right, I mean and listen to interest rate on that was twenty four percent credit card alone, like a yeah shark loans loan went through like a credit union.

Or something like lending club.

And uh so we got that and then we just dove in. We started hitting a roll. We had did little education and we didn't know like we literally learned from the school of hard knocks, so we hit the role. We went all the way down to Cincinnati looking for homes.

We didn't know.

We were trying to see we're gonna move homes and man our first deal. She actually found this guy and up and it's called Love's Park.

Yeah, so I.

Ended up againing prospecting being Facebook. I found this guy. He was a park manager. He had a lot of older homes and he was like, look, we got some homes under five thousand. You should come out and take a look. That was definitely our budget because starting out we was like, we only want to stay under five thousand. So when out there we looked at a few homes. We ended up getting two on one home we paid thirty seven hundred. It was moving ready so we didn't

So we ended up flipping those.

We made nineteen thousand, five hundred in less than thirty days, and then.

You said this is this.

Right, and that was it?

Right?

That was it At that.

Time you were saying, like that was already half of the yearly salary.

Right. Yeah.

So at the time, at that time, prior to me getting fired, I worked at the gas company here in Chicago, and my salary gross I was making about like thirty nine So you're thinking about I made about close to twenty thousand in less than thirty days.

That was like, that was eye opening for me.

I guess.

That's powerful because a lot of times people are afraid to leave their job. I pulled something the other day like don't let well, a fear of losing fifty thousand a year could stop you from making fifty thousand a month, and you could break that down to anything, but like your situation is like you actually was blessed to get

Yeah? But sure, so I mean prior to you know, Byron's entrepreneurial journey, Like you know, we were already i guess quote unquote talking and dating before we got serious. And at that time, like you said, he had a good job, you know what I'm saying. So once we got back linked up, at that point, he was going through his hardships or whatever. But by that time we had already built our friendship. We was already best friends.

Like that's powerful, good man.

It's it's like a lifetime movie.

Now, that's beautiful.

I mean, obviously you know I'm a married man, so like I could relate to everything that you're saying, Like having somebody that knows that whatever whatever I do is for us, right, so like we all want so like the decisions that I make or she makes, it's for the betterment of us and our family, right the legacine.

So that's powerful. Shouting to y'all black love black.

So all right, So I don't think people fully understand, like I said, especially like we come from New York and but you actually told me that there's a lot of mobile homes in New York. But like the New York City area metropolitan area, and you know a lot of listeners that may be from like cities, they don't fully understand how big of an industry mobile parks homes are. So I did some research. So there's twenty two million Americans live in mobile homes, and so like, how lucrative is it?

Man?

Listen, it's the highest cash on cash return of any real estate investing. Like I didn't believe it at first until I'm gonna give example, our average returns are two hundred and fifty ROI on per.

Deal that we do.

How long does it does?

See our normal turnaround in sixty days. Now we're to the point that we flip a house, we flip in less than fifteen days.

Wow, Okay, So all right, so since you said that you can, you can you break down a deal and like kind of explain like how does that work?

Cool?

So I'm gonna break down with a deal. So we had a deal. We purchased a home for three thousand dollars right in Indiana, and the home that it didn't need any work from older lady. In most of the situations, right, most people don't really know the value of their homes. And three grand said cool. So what we did was we say, you know what, we're gonna open up for sellarfar. We're gonna help somebody get affordable housing in that area.

So all right, a lot feed what's the lot of fee?

So it's like an HOA fees. They're paying for the trash, they're paying for just.

To stay stay on the actual so that the park owns the land, so you own that if you can't just park your mobile home anywhere. Now to be inside of a license, like a park that has a permit, and it's as like a okay, right, and.

So normally the ones that you drive, like the r vs, those are different, right, you go, you can go take drive those and go into a park and pay like a fee. But normally the ones that you see are kind of just like on actual like land, like those right there.

Yeah, you can move those, but it's not costly.

Normally about two grand and so to move them depending on how many miles. Okay, but in this case, so we so we say, hey, you know what, We'll say four twenty eight monthly.

Okay, So it was eight hundred bucks.

So how it did We put them on a sixty month term because remember it's a mobile home is pretty much a motor vehic on most states. It is not actually real estate. It's real property unless you put it in on land. So this particular deal, we're getting eight hundred a month, we're getting cash flowing four twenty eight.

We put them on a sixty month term.

At the end of that sixty month term, that three thousand we turned to twenty five thousand, was it twenty five thousand, six twenty that's seven hundred percent return on investment we created.

So the rent that you were guys were collecting was four hundred a month for twenty twenty eight years.

And how much did you buy.

It for three thousand?

How how do you buy something for three thousand in charge? How much were they they were paying eight hundred dollars a month in rent?

Yes? Because how is that? How is that possible?

So with that we so instead of them renting an apartment, right, because they get if they rent apartment for eight hundred dollars, they got no equity in it. So we're providing this is just equity in that house.

Right.

The thing is we buy it for so low, Right, we don't necessarily have to say, Okay, we're gonna only sell it for five thousand. Right, we still operate because if you think about the number, it's still a house. It's still a home for him. So a twenty at the end of the day, a twenty five thousand dollars house where you still gonna get other moving ready, twenty five thousand dollars house.

So no, that's crazy. But I was just like, but if why would somebody not just buy it on their own? If they like, why would you rant for eight hundred if it only cost three hundred three thousand to buy.

Yeah.

So the thing is for us being investors, it's almost like we buyd off off market property.

Right.

The most people don't really know that, hey, I can go get there, and if they do, they definitely take advantage.

Right.

For example, we have a house Chinese just sold this week. We literally we got the house of four fifteen hundred. We sold him him for six thousand. He's gonna move the home. Right, We're still doing a favor. But then at the same time we offer seller finance. We just offered I usually I usually do anywhere from like eighteen dollars. I look at it eighteen dollars to twenty five dollars per square foot.

So you could actually with your finance and you can have no money and get a home. Yes, interesting, so I can, right, So like I go in, I have no money, I'm like, yo, I want to get this home.

That's where you come in.

Yeah, yeah, And that's what I'm offering.

Because see the thing is, most banks don't lend to mobile homes like they like Warren Buffett, he has two lending companies. Because you understands Warren Buffet is in this game on Clayton Homes.

Warren Buffett lends mobile homes.

Yeah, he owns Clayton Homes. That was acquisition he brought in nineteen ninety seven. Clayton Homes is the largest like manufactured home company in the country.

So banks don't give the loans because are they looking at it as a like an honormobile loan?

Like how are they looking at it?

They looking at as a depreciating asset, where for us we look at it as value.

So it's an appreciating asset because it has wills and anything that wills depreciates, correct, So is that true?

Not nine? At the end of the day, for us, we look at it we solve an affordable housing crisis, right, Like that's the biggest thing.

Like cities, we know what.

The cost of living is going though all right, wages are still staying the same, so people are getting pushed out like we see it every day, like where it's gentrification, people can't afford. So for us, it's like, hey, listen, I get it. You've been living in this apartment for the last five to six years. Why don't you get your own asset?

Right?

Because at the end of it is you can do the same thing. Most people that we educated buy house rooms. We even teach them like, hey, this is how you sell your home to get your money back or make more on your home.

So where these mobile parks located in proximity to major cities? Right, So we live in the New York tried state. How many miles typically would a mobile park be located?

Right?

Good question.

So for you guys, I know you guys got one in Staten Island.

I've been in New York.

We've been in New York our whole lives, Like I think, I don't think I've ever been in stand.

And then we got a few students out in New York and they normally work with parks in Jersey, so they go over to Jersey.

Yeah, and about honestly, I would say about sixty miles if you're willing to go upstate New York. I'm not sure that the exact knowledge, but I know you guys have a lot central and upstate New is there like.

A mandated distance like that the federal government will say like this is the further dents you can go before you create a park.

So here's the thing in modern days. So mobile home parks.

The reason why you don't see a lot of them popping up right now because here's the reality. Taxes right in America that cast on the average is like twelve thousand and sent a kid to school. I'm gonna give you guys, exam, I'm about to blow your mind real quick. Our taxes on our mobile homes per year one hundred and sixty dollars. Our taxes on our mobile homes in Indiana thirty seven dollars for the year. So you got

Over here's more lunch money than always.

All right, here's a question. You live in a mobile home, right, how do you what is it plumbing? How does that work?

So?

Like so everything is above ground. Everything is above ground.

So the cool thing is like you know, if you need something fixed, they can go under the actual mobile home to repair.

So but like your actual like you go to the bathroom and goes underneath the like where does that go?

Is it like a septic tank down?

So normally most parts So here's the thing. Most parts either have they're hooked up to city sewer, so they will have the hook up so it can go you know, along with the city, or they have septic tanks.

Okay, so like if it comes from your truck or your your mobile home into like a underground thing.

Hm.

So all right, so if the taxes is so low, right, so what's the what's the gig?

Because it has to like what's going on?

So all right, the taxes a low. You can buy a home for low, you can sell it for high. So why a why would any why?

Why?

What's why?

What's in it for the city or for the town to actually house these places? And how come more people aren't doing it?

Good question?

So I would say person that, well the first question I'm gonna answer. You said, like, like why do cities

Like you told me that. Yeah, it's like it used to be luxury.

Yeah, and it was kind of like suburbia. Most mobile homes are in rules like suburbia.

Right, if you go to a lot of mobile home parks, they look like little I guess you can say suburban neighborhoods. And once when Hug got involved, unfortunately thinking about the next generation and people start moving back to the city, it just kind of took the value down. So it was a need for affordable housing. But with cities these

So when did when did mobile homes get the bad name of like trailer parks and trailer home Like when did that shift? Because you said at first it was luxury and then it obviously it kind of got tarnished and people have bad ideas when they think about that. So like, at what point did that even like you said, like trailer park trash stuff like that, how did that happen?

So to my knowledge, it was an article.

I'm not sure the exact year, but I think I know it was like in the late sixties and somebody had wrote a newspaper article about trailer trash and that just kind of stuck. The name just kind of stuck, and then of course moved play out.

I think about horror movies, right, eight mile right.

I tell you, when y'all said mobile homes, the first thing I thought was ozarks Yo, okay, must be similar to that.

And so the ones they show on television or they depict I look at it. Honestly, it's almost like in the hood, right they depict like you know what they for example, Chicago, they're going to depict on certain shows that is just the gutter, you know what I mean. But at the same time, it's very nice mobile home.

In San Francisco.

I saw Will Smith had a mobile home. It was cause like two million. It was like a two story mobile home. Travels like to movie sets with them.

Okay, yeah, that's dope. All right, So now we got the backstories sitting down. In the second segment, we're going to go into some details and go over terms and key definitions.

All right.

So now we're gonna go over some key terms, definitions, things that nature. But before I start, we talked about pricing. But on average, since we're in Illinois, how much can does a mobile home court on average?

So the average price in Illinois use mobile homes right as seventy five hundred. So if you're looking for something new, like if you get in a brand new home, they can start it right at about like thirty five forty thousand, all right.

And one of one of the things that the negative connotations that go with mobile homes is that they're not safe.

So one of the questions I ask was like, how safe are mobile homes? Man?

I love that question.

So, so mobile homes are actually since they're built in factories, they're wind tested, they're built to last outstand tornadoes and earthquakes and things like that.

Right.

The thing is unforcuning that you've seen maybe seeing in or so they may show they may show a mobile home park with like three three tops, you know what I'm saying, gone, But it's not.

Like you know, back, I think, what's the movie and whatever it is?

But anyway, with the houses flying all the way around and things like that, no, it's not like that they actually built safe.

So what's the lifespan? Right?

So sometimes like you know, a brownstone like be built in nineteen oh nine, what's the light span of a mobile home?

Good question?

So the older ones, anything that's built after nineteen ninety up to thirty years. The new ones are built to last within forty five to fifty five years.

Okay, okay, So as far as you was explaining that title right, and it's different from like when you buy a home like a regular home and you have a deed, So can you explain that the.

Process as far as like the title is a lot, it's just it's easy to do it, right. Yeah.

Yeah. So as far as a mobile home, like, the mobile home is considered a motor vehicle, so it's kind of like a car. So when you are selling the asset, you're just going down to the DMV or whatever your motor vehicle department is in your state, and you're just transferring that title.

That's it. Yeah, how long does it take?

About two weeks to come back?

So the closing, what's the typical closing from buying a home and having it up and running.

Like yeah, so buy Honestly, it's like a day. I mean, so you buying a home, you of course we're dealing with the park, So we're gonna deal with the park manager. Our buyer has to sign some paperwork with the park. That's about thirty minutes to an hour that's signing the lease for that lot rent that we talked about earlier. After that, we normally take our buyers, we go to the D and B together, we do that paperwork, transfer the title. That's about again a fifteen minute process, and

Yeah, So one of the things that were doing some research, it was like, there's a difference between modular homes and manufactured homes.

What's the biggest difference.

So, mogul of homes, more times you see concrete base where so they have like they are more applauded on cement, right, whereas a manufacturing home is they're literally sitting on cinder blocks. So that's why you see it's called skirting. You'll see like like some vinyl that's like right around the bottom of that, so that's what covers that. But the house is actually sitting on cinder blocks.

So all right, what about insurance, like insurance for a mobile home, is it different from insurance to a regular home? Is it car insurance is it's actually transportation vehicle, Like, how does that work?

Yeah, you literally can call, right, you literally can.

So when it comes through, mobile home insurance is very similar to what you would get for homeowners insurance or renters insurance. So you literally can call like Geico Stay Farmed, like your normal insurance companies, and you let them know like you would like to get insurance on your mobile home. And the typical cost for that is about like fourteen fifteen dollars a month, so kind of similar to what you would pay for renters insurance.

Wow, So what's the process, because you said, like the park owns the land, right, but you own the actual mobile home. What's the actual process to getting your mobile home into a park?

So that process you really looking for a mobile home park owner.

Who This episode is brought to you by P and C Bank. A lot of people think podcasts about work are boring, and sure they definitely can be, but understanding of professionals routine shows us how they achieve their success little by little, day after day. It's like banking with P and C Bank. It might seem boring to save, plan and make calculated decisions with your bank, but keeping your money Boring is what helps you live or more happily fulfilled life. P and C Bank Brilliantly Boring since

Ernest What's Up?

You ever walk into a small business and everything just works like The checkout is fast, the receipts are digital, tipping is a breeze, and you're out the door before the line even builds odds are there using Square. We love supporting businesses that run on Square because it just feels seamless. Whether it's a local coffee shop, a vendor at a pop up market, or even one of.

Our merch partners.

Square makes it easy for them to take payments, manage inventory, and run their business with confidence, all from one simple system. If you're a business owner or even just thinking about launching something soon, Square is hands down one of the best tools out there to help you start, run, and grow. It's not just about payments, it's about giving you time back so you can focus.

On what matters most Ready.

To see how Square can transform your business, visit Square dot com backslash, go backslash eyl to learn more. That's Square dot com backslash, go backslash eyl. Don't wait, don't hesitate. Let's Square handle the back end so you can keep pushing your vision forward.

Hi.

I'm Sherry Harris, owner of Life Source Water, as a new grandmother in lifelong Californian care about what's in the water my family uses every day. For over forty years, our whole house water system has protected Bay Area families with filtered water from every tap. Now we're offering a double dip in savings free basic installation plus an extra two hundred and fifty dollars off.

That's up to twelve.

Hundred dollars in savings. Call our factory at one eight hundred Water ninety nine or visit Life sourcewater dot com hurry offer in September thirty Quarrantine limitations apply.

Who's looking for houses and right now it's like a gold rush, right like literally now out of the forty four thousand mobile home parks, four well sorry, four thousand are institutionally owned, mean like just corporations that own it. But it's really like the wow away because they see the opportunity cap rates are crazy on these things. So for them, what's happening is you have literally call like like bird dog watches. They're going to other people's parks

Trust me bro So, like, what's some of the incentives that a park a lot owner would say live in this lot as opposed to living that lot.

So the one thing, the cooler thing in the newer mobile home parks, what they're trying to really do is make it a community based because that's one thing about mobile home parks get a bad rap. It's a really good community because everybody knows each other, right, So like for example, it may be you know, amenities in the park. We got parts, they got swimming pools and basketball.

Courts in the mobile home park and yeah, yeah.

It's like exactly yeah, And so it's really just an amenities like what can this park provide?

Right?

Like like one park, I love it because they give beautification awards for whoever has the best line, right some parks are pretty much like a concrete jungle. Are on concrete, but a lot of parts are I mean you have like huge backyards, gated fences and garages and like you'll be surprised at seeing some of the way this stuff is developed.

So all right, so you have a mobile home, you put it in a lot, but that a lot has a backyard and all that, So you have to pay for that backyard.

Is that part of just the lot fee? Like, how does that work?

Yep, that's part of your lot fee.

I look I equivalent to almost like taxes, right because I know here in Chicago, depending on single family home, you may be paying anywhere from three grand and six grand on your taxes, right, I look at it, that's the same as taxes if you kind of if you add that number, if you're paying three seventy five, you know a month when you look at the yearly, it's pretty much still in line with taxes.

And some people pay in their cities.

So in real.

Estate, you know when people have multiple units, multiple assets, they have property managers. In the mobile home game, you'll have park managers. Is it similar to what's the differences in those two roles?

So the park manager's role is really to oversee the park. For example, you know, make sure they's filling houses. You know, somebody's not paying their lot rent, make sure they send them their notices. A lot of parks have staff, so they have other handymen on the park. But the cool thing about it is they're not really most parts, don't. They do rentals, but they're not let's just say, like fixing everything in the house.

Should you say that?

Okay, that's so all right.

So there's two types of communities, right, there's age restricted in family communities, yes, can you explain that?

Yeah, so all age community would be like, you know, eighteen to really all ages. The restricted ones is the more they're normally fifty five and older, so it's more so retirement communities. And you normally see those like down south Florida West Coast, like Arizona, California, Las Vegas, like you'll see the more restricted communities in those areas.

Okay, so how many people, like how many homes are in a typical community.

So it varies.

It could be anywhere from thirty upwards to five hundred homes. It really just depends on that particular park.

And you said that they don't depart, manager doesn't come around to collect rent. Right, So what's the process when somebody doesn't pay? Is it the eviction process? Are the deadlines the same as state regulator? Or is it faster for mobile homes?

Honestly, from what we see, parks don't play no games. Now, Like I'm gonna say this, Like most parks that we deal with, they give you ten days. Do you get a ten day notice? And then after that, I mean you can definitely pay. But if you're past that thirty days, they got paperwork already and they starting that eviction process.

Wow.

So all right, what's the maintenance on mobile homes? Is it car maintenance?

Is it?

House maintenance? Is the combination of bob you have to change the oil? Like, what's the deal with that?

Bro?

So I mean literally like regular house maintenance.

Right.

The cool thing about a mobile home all the materials are much cheaper than a traditional house, right, break and mortar, because you're dealing with most houses come with you know, vinyl floors, it coming with they say wall board instead of dry wall. So mostly your materials are are cheaper. So like mainness, I I tell people, if you on a full rehab on a mobile let's say a full gut twelve grand.

So speaking of that, so you said fix fixed out, So I took.

Some notes vinyl, it's real rock, it's foam installated, uh, cinder block. So like, all right, you're you're fixing up and your your rebuilding.

A mobile home. Right, how does that work?

Like you get a contractor to do that, and like how like what's the how do you do that?

Like is it just like a regular home or so you.

Can here's the thing. You can get a contractor.

But there's a lot of people, a lot of mobile homes that use special contractors. Right, they just do mobile homes because a lot of the main well, the maintenance a lot of times cheaper, and the materials are cheaper. If I take somebody who has been doing all single family houses rehab, he comes to my mobile home, he trust me, my price is gonna be a.

Little bit highercause what he used to.

Right.

But at the same time, we call him handyman. We got like a team of literally five guys, and when we need to rehab, we call them.

They go ahead and do it.

And the biggest thing for us, like man, shout out to my guy, packet Hood of States. But just like we keep it clean, safe and functional. That's our biggest thing, and that's his. We actually learned that model from him. Clean safe, clean, safe and functional and longest that's our biggest thing. Like we're not coming in there trying to do a bogus job because you have people mobile homes.

Don't have inspections really like that, can you talk about that?

Yeah?

So it's really like again, since it's a it's a motor vehicle, asset is not as strenuous as a house like a process exactly exactly. And that's why for us, it's like, yo, we add this value because we're not gonna let nobody come in and tell us like, no, wait, this is only worth four grand, like no.

So as far as like getting started, right, how much money do you need to get started in the mobile home real estate industry?

I mean really, we always tell our students like little to no money. It really just depends on your market and really just how you're prospecting. You can literally like for me and Buyron, we don't really touch anything over five thousand. That's the strategy that we have created and stuck with. But even in like the higher markets like we always say, like you can wholesale mobile homes, like you can still literally go in and still we call it like being that helper in the situation and helping

So how does the whole saling because I know anybody's not familiar with whole sealing real estate, It's like you're pretty much like the middle man. You never actually own the home, but you can make a profit. It's like if Troy wants to buy a home and you want to swim with sell home. You want to buy a home, and then I can come in and be like the middle person and then make like ten thousand and fifteen thousand, and I don't wait do any work. There's no risk,

Yes, exact same process. You know you can put them on the contract and the reality of it right now in this market, it's really no competition that it's wide or like we're in Illinois, we only like that. We personally we know of ten other investors, but we've only met two and out of those and the newer ones are our students.

Wow.

So as you're talking, I'm thinking to myself, Right, yeah, it's cool to get the mobile home, right, but you said that the person that owns the land is the one who makes the proper How do I go about getting land? Do I have to buy a lot and then get lightn sent and have mobile homes on it?

Like?

What's that process?

So that's dope.

So for example, let's say we get a lot of people like, Yo, I got like thirty acres down in Mississippi, Like, can I put homes on it?

It's like, yes, yes you can.

You know, like honestly, if it's your land, yeah, I mean the biggest thing is like, for example, let's say you just got raw land, right, So yeah, now you're gonna have to get septic and you're gonna have to get the whale system installed on the high end that can run you up to like twenty two thousand on the low end, you get all that installed, I hope

On what it is. Let's say on a high end, your move is five thousand.

Right.

You still you look, Let's say you all in thirty thousand, right, Now you go get a house. You want to get a brand new house. Now you all in. Let's say you got another forty thousand, right, So you're still under one hundred thousand dollars, right, and think about this. Now you can become the bank. Right, you can eat a lease that land out forever, or you can just either package that up and now sell the land in the house.

Okay, So for buying it, do you buy it in an LLC or you just buy it like as a regular person, Like, how do.

You do that?

So when we started with buying our person, but now we purchase all our homes in LLC.

Why just from protection standpoint? Yes?

And then from there we go a head and roll them in a trust.

Why can you talk about that the trust? Yeah?

And it's really just keeping your name off out.

We don't want people know how many assets we have and I mean, we just learned from a mentor that, hey, this is just an extra layer of protection.

For us small businessman.

You had.

I saw your Instagram page. You said one property you could get one propert. I guess like in the area, well somewhere I don't know where in America, but you can get one property for forty five thousand dollars and that could generate an income of eight hundred dollars a month. Let's say, well you can get nine mobile homes for forty five thousand, and that generates an income of twenty seven hundred dollars a month. That's pretty impressive.

Yeah, profit margins, Yeah, yeah, So I actually made that post.

First, right, first lady of mobile homes.

But I definitely did that just to kind of show the margins as far as you know, when we say, like mobile homes is the highest cash on cash return on any form of real estate. So in that specific example, I kind of used the numbers that I got from one of my relative friends who end up purchasing a property for forty five thousand. In that situation, she was a landlord. They were renting it out for eight thousand.

Right.

Remember we talked a little bit about earlier about that seller finance putting our tenant buyers on payments. Now, if you're putting them on payments for a minimum of three hundred dollars a month, mind you, we're no landlords in this situation, so we have no landlord responsibility.

We're playing the bank.

So in that three hundred dollars a month of nine homes, you're looking at twenty seven hundred dollars a month. Again, in cash flow, So you already tripling your cash flow profit. So now let's look at five years. How much you're looking to make in five years. Oh, it's like over one hundred and sixty thousand.

I can't remember.

I think it's one hundred and sixty two thousand. So you've tripled your initial investment investing in mobile homes. So then it's like when people always ask us, like why do y'all stick to mobile homes?

That's why?

Right, she knows a number that was impressible.

Yeah, in the next segment, we're going to talk about education, and we're going to talk about scaling and a few other things. All right, So in the last segment, we're going to talk about education scaling. But before I start, I want I just got a quick question. So all right, there's three different Like there's different ways like realicitional real estate, like you like buying whole and make money off of

Oh?

Man, definitely. For example, Man, I got to give a shout out to one of our students, Herald. But he's down in Georgia and he purchased a mobile home for fifteen hundred, put a thousand into it. And what he did was he's an opportunity with truckers. He understand a lot of guys say extended stays. So he running out per room five hundred dollars per room of his mobile home. Right, So think about it. He got his money back in like three months. Now he making all profit. He just

So the lot feed plus whatever your choice for rent, that's what gives you the total rent price.

Correct.

Okay, So what's your what's what's your vision to scale? Like, what's your what's your plans on scaling for your for your personal business brand?

And so we definitely want mobile home parks. So the larger goal with that is to get an acquisition where we find somebody has a portfolio ten to twenty mobile home parks, just looking kind of just to retire, right and then pretty much purchased that portfolio and just build from there and really open up the floodgates for more people to invest in mobile homes?

Is that just something like just being in an industry, You'll know, is there like a database you can see like these people own this amount of mobile parks?

Right?

So we've been doing our homework. We got the top one hundred companies that do it. Literally to be in the top one hundred. If you own over fifteen mobile home parks, you are in the top one hundred of the companies.

How much does it cost for a mobile home park?

So now the prices went up? I would say on an average for fifty paths plus, you're looking at it about like one point two depending on the region one point two mil.

Two million really depends on the region.

Right.

I've seen parks for that has one hundred pass that was going for one point two.

Milat is just the area that's designated for this Exactly how much revenue can that bring it on a year?

Wow?

So man, that's a great question.

So for example, I look at it, if you have let's say you have two hundred paths, right, and then you're getting a you're getting four hundred bucks per pad normally most for a park to be occupied, fully occupied, you're looking at a good park. Ninety five percent ninety five percent of those houses are field.

So if you look at your castle, I might pull out the calculated real quick.

I heard you, dope, but no, I'll run head. But yeah, I mean I'm trying to think. But the cash law. I know I had some some parks that pretty much, but they're like netting per month in the you know, in six figure range and just net after everything. So I mean literally a lot of.

Like after a year, you can probably get you a million back. Oh yeah, and then one hundred thousand let's stay on the low end, one hundred thousand a month you'd be making from that, yes, but like maintenance, you gotta have like maintenance keeping.

All that maintenance.

Guys.

You may if you have a park manager.

That comes with your costs of course taxes, right, But a lot of times if you the thing what I've learned about in the mobile home park, if you give your uh, if you give the tenants more responsibility, so they're responsible for water, they're responsible that's how you cut costs, so.

The utilities up to them.

Yes, right, okay, so you guys are teaching people how to get into the industry as well, right, how are you doing that?

So?

Man, we got several products, We got an ebook, we have an e course, we do group coaching, We do our free live webinar every Wednesday, just to kind of get people acclimated, because that's the biggest thing. Like we look at it like we wish somebody would have showed us this years ago. And then we see the opportunity and it's low competition. Like literally, I don't care if it's ten thousand people that started tomorrow, it's not gonna be saturated, all.

Right, So y'all are selling people the mistakes that y'all made exactly.

So being at y'all in.

This industry and it was new to y'all, what are some of the mistakes that you made during your first deal?

Well, I would say one mistake we made being new investors. We was at a park and the park managers they were actually they had just brought the park as well, so it was new for them too, and they were showing us a house and you know, just talking, we actually made the mistay.

Well it actually wasn't. We was Byron's.

Right right to it, but he made the mistake of letting them know how much capital we had, right, so he ended up telling them like, oh, yeah, we got about ten thousand, right right. So of course you know

Bring us time, man, not winter rise in the house in the winter, like those pipes since they're above ground. Man, that was and it's not bad, like honestly, literally the first time I tried to go a cheap route, so I hired a guy told me he could do it for two fifty Plumbingah, let's go, and he just literally yeah, I've paid for it and then I had to pay another five but again seven hundred and fifty dollars for plumbing, right like where they do that?

So what about lack of market rehouse?

So that that was one of the mistakes that a person could make, right as far as like not knowing the market.

We get so many dms of people that just maybe jump on a webinar or and I get it because it is exciting, right, but you still it's it's terms, and it's just it's not a lot, right. But if you try to jump in there and not really knowing, it can cost you more money because most people here, like man I can start with five thousand and then they'll take that five thousand and then and it's like, okay, well what about we always tell you the budget for a lot of rent, right, that's part of your expense.

On the rental side when you're getting people to run. What's the turnover of people to tying in six monthies or like you said, some of the truckers do maybe a monthly.

What's the turnover?

So honestly, most people we realize that they're willing to they're willing to stay at five years max. And mobile home parks because you have to think about it, just like I look at like this. It's just like the hood, right. It's certain parts of the hood that's just the gutter that people know they want to make it out to and then they move to another part of the hood that's a little bit better, but they still want to move out.

So it's levels to it.

Right, Unless you were just in a in a mobile home park in Miami off the water, you probably not you know what I mean, Like you want to stay there for ten years plus?

Right?

But you know so honestly, for us, we provide anywhere from two upwards to ten years, but normally most of our average is like three to five years. But the turnover, we rarely get people that want to leave unless they're family. Like for example, we had a family that a couple, they respecting that third child, so you know they need more space now, so in that case, but normally they're gonna stay.

So I saw on your page also you said that people mistake is buying high and selling low. Right, So all right, how do you like, Well, how has that happened in the in the in the mobile home world.

Yeah, so I'm gonna say this profit is profit, but we I'm not gonna say we teach you how to be greedy, right, we teach you how.

To make large returns.

So yeah, for example, if I buy a house for ten thousand, and with our system, you know, you turn around, you only make two grand off or you make twelve. I'm happy for you that you made money, but it's just like you know, you left way more money on the table. So that's the way we look at it, especially if you look at the long term, right, like if when you do sell a finance again, if you take a minimum of three hundred dollars for sixty months, that's eighteen grand.

So what got you into education? Like what made you want to spread awareness and teach people how to actually do this?

Man?

Be honest for myself like that was already my call, and I've been doing a lot of mentoring. I've already doing a lot of coaching, and honestly, God's hot. I never would have sold myself if God would have showed me the picture like yo, yeah, next year, you're about to be doing these mobile homes.

I'm like, bro, you know, come on.

But it's just he had a bigger a bigger picture for us, and I mean both of us and uh man, it was just like dope to even see shar Niche just like, yeah, let's let's let's go right.

Yeah, Like I told him, like once we did our first couple of deals, I think.

We say like right here, and I told him, like, we gotta show this.

We got to teach this to our people because there's so many I know, so many other investors who have been trying to wholesale, who've been trying to get into traditional real estate, but again there's certain factors that have been stopping them, like credit capital, they can't get started. So once I found this, I was like, come on, like this is bigger than us, like this for the people.

So I had you have students, so obviously they go through the webinar. Are you guys, coaching them after as well as and bringing them to their first deals.

Yeah.

So we always say anybody who investing in the program, like you family, hit us up, like we don't want to. We're not that type of like okay by program and then go out on your own and do it right. If you don't hit us up, that's on you, you know what I mean. But we really it's like an open book because that's the thing is just like the more the more success, the more success that they have,

Right, That's dope. That's dope.

So all right, well thank you, we appreciate it. So all right, how what's the information for your courses? How can people contact you? How can they check out all of your programs that you have going?

Yeah, so for one man, Instagram is really our main page. Follow us at at I'm sorry at Mobile Home Elite Investors. There you can literally click the link in the bio that can get you can access to the course. We have a private Facebook group ebook even need a payment plan, that's what we have. Private coaching whatever you really need. That's what we you know, we get our program to help everybody. We got something for everybody.

Dope dope, dope suy.

Yeah.

Shout out to everybody on patreon dot com. That's our prow to Proud to Pay program. Everybody that's been supporting on there. There's five tiers. You can join any tear.

That you like. This bonus foot is there, this bonus content.

Just want to give a good shout out quick shout out to our new members Jada and Marquise and h Christian and Derek as well. They've joined and some of them have joined the Tier five's and joined the Tier two. Anything that you provide is a blessing to us because it allows us to come here, come to Chicago, go to other cities, and should highlight some hometown heroes and so this this is great and we learned every time that we do an episode, we learned something new. So

Yeah man, yeah, and yeah, asks overliabilities. That's what we're running with. So shout out to Chicago to good city. Chicago has been very hospitable to us. And this is actually the first one of our hometown heroes. We're actually going to be releasing another episode with the Downing Brothers. They are Chicago celebrities. They got an AHGTV show and they're interesting because they're actually firefighters, but they're also real estate investors as well, and they also television stars as well,

Yeah, so it's.

Specifically targeted for people that are interested in getting help in those areas. But yes, that is on early Legion dot com. And the book Tip of the Week is A Step by Step guy to Buy and Sell Mobile Home. You know who wrote that book? Yeah, our guy Byron wrote that blook. It's actually his last name is Sellers, which is actually very interesting, very fitting. When he told me, I'm like, is that like a stage name, like like selling homes? And his last name is Sellers So he's

I'll be following your journey. I'll be rooting for you guys, for sure, for sure.

To your home. People look at the back and they're like, yo, I like the new setup.

Yeah, yes, we will see you guys next week. Peace, pease, peace.

You just realized your business needed to hire someone yesterday. How can you find amazing candidates fast? Easy? Just use Indeed. Stop struggling to get your job posts seen on other job sites. With Indeed sponsored jobs, your post jumps to the top of the page for your relevant candidates, so you can reach the people you want faster. According to Indeed data, sponsored jobs posted directly on Indeed have forty