A John Fedro Who Is

Hey there,

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I was born in a small town in the southeast corner of New Hampshire where I grew up doing most things that country kids do (without siblings).  I loved playing in nature, learning magic tricks, chasing my cat Fluffy, visiting the local farms and dairies, juggling, and playing sports with friends.

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Even at young age I began looking for additional ways to earn extra income.  My first business venture was at the age of 7, an “un-official” franchise of sorts… I charged $3.00 a week for the kids in my neighborhood to wrestle in my parent’s backyard (looking back this was a huge liability – thanks mom) as I taught them what I had learned from my martial arts lesson the week prior.  I even gave colored belts to my best pupils.

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The years rolled by, friendships changed, school crept by, bullies came and went, and it seemed every year I was changing what I wanted to be “When I grew up?” By the way, why is this one of the biggest question adults ask of kids?

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Here’s my personal belief about deciding what you want to be for “the rest of your life” question.  Instead of thinking about the profession first, think about the life style you desire FIRST… then research “What professions will get me this lifestyle?”

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Fast forward 11 years and I’m walking down my high school’s graduation, diploma in hand, ready to change the World.  I attended Notre Dame College for Medicine where I discovered that my talents were being wasted at a rate I could not continue.  Have you ever felt like you were in a GIANT rut and ready for a change?  Me too…

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I packed my bags and headed to sunny Florida!! I thought it would be all drinking on the beach riding dolphins to work but alas it wasn’t… big surprise right?

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Six months after arriving I was back in school and changed my major from Medicine to Business Management.  I worked remedial jobs to pass the time and make a living but deep inside myself I knew I was capable of so much more than what I was currently doing. But I didn’t know where to turn and school wasn’t getting me my desired “Kick it on the beach” goal I was after.  What’s your dream life like? (beach or mountains)

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My roommate at the time turned me on to an old Ron LeGrand real estate investing course he had on his bookcase, “How to Buy and Hold Real Estate” was the name.  I couldn’t put the course down, this was my BIG life wake-up call.  I read and re-read the whole book in a single weekend and thought “Man, I can do this!” (If you’ve ever read a Ron LeGrand book the examples tend to be a little unrealistic.)

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Over the next 90 days I joined a multitude of real estate invest clubs, read every course I could buy or borrow, and made over 120 offers on different homes without a single offer being accepted.  What was going on?!!!  At the very least I should have been able to purchase a skinny deal and make just a couple bucks. I was doing the exact same things as everyone else was doing.. and getting the same results.  I was blue and unsure of my next step to say the very least…

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It wasn’t until I met a seller that was selling his manufactured home (with 2.5 acres) that I was able to purchase a home (with equity) that I quickly turned for a $35,000 cash profit.  After 5 months of my first manufactured home discovery I had 9 (yes nine) cash-flowing homes in my portfolio and fast-turned 5 others for a profit over $110,000.

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I was working 2 jobs at the time (cell phone sales and night valet) and when I was sure I was secure in my own investing business I retired from my “Working World” and continued investing in individual MH deal after deal and so on… with little or no competition at all.

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I have been able to travel to parts of the world I never thought I would go to and see things most Americans never “get” to see in their lifetimes.

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Since my debut in manufactured homes in 2002 I have been preaching this form of real estate investing from the roof tops as alternative and undervalued way to secure wealth as a real estate investor (mostly this preaching falls on deaf ears). Ego versus Cash-flow is what I say?

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In 2009 I moved again to Austin, Texas where I continue to invest in manufactured homes and traditional real estate and help teach others to do exactly what I did over 9 years ago to escape the rate-race once and for all.

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Not long after I moved to Austin I met the love of my life Elinore.  Ladies and Fellas (if I may get “real” for a moment) I cannot express the leaps and bounds your business will make when your partner is on board and helpful with your (our) life goals and visions.  Does this make sense to you?

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So are you READY to begin succeeding with real estate cash-flow?  Here’s my #1 TIP:  To almost guarantee your success in this field get yourself a mentor/coach that you can talk with daily about your marketing, deal strategies, offers, how-to’s, closings, negotiations, etc. I’m 100% serious when I say, “Whether the coach is Me or someone else local to where you will be investing; a coach with your vested interests at heart will add years of experience instantly to your real estate company and can make or break your real estate success.”

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I hope you enjoyed reading this, I really enjoyed writing it for you.

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John Fedro

My email is John@RealEstateCashFlowFormula.com

WE’VE MOVED LOCATIONS (where’ve you been?)

Hello InveSTARs!

We’ve grown a little to big for THIS blog account so we’ve MOVED locations to a bigger and better site to improve the look and functionality of your education.  Get the same FREE stories, education, and advice at www. MobileHomeInvesting.net

CLICK THE TRAIN TO SEE US AT OUR NEW SITE!!!

Mobile Home Investor – Make Huge Returns by Becoming a Mobile Home Investor

Mobile homes can provide almost all Americans with a real opportunity to make a passive month cash-flow much greater than their current to 5 job. With most areas of real estate investing failing; affordable housing (I mean mobile homes) is at an all-time high demand.

What does it take to become a mobile home investor? Well it is not for the faint of heart or anyone wanting a get rich quick system. Although you can begin seeing wholesaling profits (with mobile homes) immediately; expect to work for 12 to 24 months before you go quitting your day job.

The down sides to mobile home investing come before I automated the mobile home investing process. That is to say the worst part for me had to have been when I was answering every call from every seller AND answering every call from every prospective buyer. Once I automated the entire investment process I saved over 20 plus hours a week of boring repetitious busywork.
Throughout your life you must have gone through new life changes to get to where you currently are. Most of those past goals, challenges, and tasks required you to first take leap of faith. A leap before you ever made a dime. Think about this; in what job or business venture do you get paid before you actually exert work and effort – Even a lottery ticket must be purchased.
Mobile home investors have a unique and unbelievably powerful market. With little money, some knowledge, ambition, patience and a few hours a week anyone can begin making immediate and long-term cash flow.
Mobile home investors make all their money by purchasing used mobiles from sellers and reselling them to ‘end-users’. Mobile home investors are essential middle-men between sellers and buyers.
But why can’t sellers just sell to the buyers directly and make thousands more than selling to an investor? I had the same question when I was just starting out. The answer is because 99.8% of Americans do not know the first thing about buying and selling real estate.
This will prove my point: Can you convey in simple English how you will purchase a seller’s 3/2 mobile home with ½ acre of land in under 7 days, without going to a bank for a loan, without coming out any cash at closing, without paying holding costs, help the sellers credit. No… I can! Plus sell the same mobile home for upto 25% over retail in the same market.

It’s just because people aren’t taught how to invest in real estate in school. Hell, when I was first starting in real estate investing I didn’t even know what a deed was. If you don’t know either don’t worry it will all come with time. If you want to get the complete blueprint and system for investing in mobile homes for huge passive returns click here.

Cheers,
John Fedro

Top 5 Mobile Home Investing Questions

Hello investing land,

I just gathered up the top 5 mobile home investing questions I have received over the past few months.  Stay tuned to the end of the video for a discount our best seller the “Mobile Home Cash-Flow System”

Here are the questions answered in the following video.

1.  How to keep renters from tearing up your investment mobile home?

2.  What to do about natural disasters?

3.  Can I invest in my area?

4.  Are mobile homes really easy to find?

5.  Why are mobile homes so easy and profitable?

CLICK HERE TO LEAVE THIS SITE AND WATCH VIDEO FOR FREE (20 min video tutorial)

I whipped this video up fairly quickly – please excuse me if there are grammar or spelling errors.  I have a tendency of focusing on the big picture and missing small things like that.  Enjoy!

-  John

Case Study: Branch Lane

Afternoon all,

I just got back from a great “surprise” meeting with the seller of a 1984 single-wide; 2 bedroom 2 bathroom mobile home in a family mobile home park.  The mobile home has been owned by the same owner for the last 20 of the homes 26 years in existence.  She is asking $9,500 but she says she is “Willing to negotiate.”

I found this property by driving inside of a park I had been meaning to check out since I got to Texas.  I had to get out of my car to double check if I saw a tiny “FSBO” (for sale by owner) sign in the living room window. As I was looking at the sign my eyes naturally wandered to view the inside of the home.  Once my eyes focused inside the dark home I was locked-eyes with Gladys (not her real name).

After screaming from surprise I laughed and walked around to the front door where I was greeted by Gladys. Gladys is a heavy-set middle aged woman with a severe case of diabetes and must struggle to get around her home.  This is the main reason she is selling and moving to a more accessible apartment closer to her daughter in the city.

Inside Condition: #2 On my scale (There are 3 types of mobile home property conditions: 1 = “Nice”, some cosmetic repairs, painting, etc.   2. = “Fair”, cosmetic and some minor floor or ceiling repairs needed, etc. 3 =  ”Bad news”, major damage!)  I should only need to get a few cosmetic items fixed, clean and de-funkify (febreeze) the inside of the mobile before it would be ready for sale.

Outside Condition: #2 Same scale as above.  No work needed to sell.

Park: Decent condition. Pool and activities house. No gang signs.  Kids and pets allowed. Lot rent $410.

Resell potential:   $30,000 @ 10%+ interest.  $1,500-$4,000 down and $800 month (including lot rent)

My Ideal Purchase Plans:  $3,500 (cash) upto $6,000 (payments)

Negations:  Gladys and I spoke for almost 2 hours.  We talked about her problems, her life, my weekend plans, her future plans, etc.  The point I am making is that we spoke at length and established a relationship; this will hopefully help in later negotiations.  Without too much pressure I asked her how close she could come to $2,500 ‘All Cash’. She looked at me with surprise, thought for a moment and said, “You are not going to get my house for $1,500!  I won’t sell it for anything less than $7,000.”

Are you kidding me, in 10 seconds I was able to knock off $2,500 dollars.  Imagine what would be done with a few more times asking.  I asked Gladys why she looked surprise when I asked her how low she could go in price was; she told me she was surprised that someone was making an offer, a low one, but an offer.

I did not want to press too hard today on price so I told her I would show the pictures I took to my partner and get back to her with an answer within 24 hours.

I will let you know what I say in my next post.

Until then, John

Quick Tip + Website Update!

Afternoon everyone,  Thank you everyone for all your support and patience while I’ve been; moving across country, continue buying and selling, writing great content for you (slowly now i admit, will pick up shortly), finish getting our new website up and running smoothly.   I am proud to say we are almost there.  By the end of this week or the start of feb we’ll be up and running.

Get ready for http://www.MobileHomeMadness.com

What does this means to you?

I’m putting my heart and soul into this site for everyone.  (No excuses in 2010!) I will be teaching anyone wanting and willing to gain financial freedom quickly with mobile homes.  I know that term “financial freedom” has been used so much recently by other teachers that I feel its lost all its meaning!  Financial freedom = Investing in 1-100 Mobile homes is such an easy, fantastic, hugely profitable way to retire young…

All I’m promising is to show you exactly how my operation is ran almost hands-free.  Showing you step-by-step, what I have done that has turned me from a frustrated employee INTO a man that is able to travel the world, take trips with family and friends, has extra money for spending on fun, not worrying about paying the bills every month, AND NEVER WORKING A 9-5 AGAIN! (and i dont even have a college diploma)

You can do this!  You now have no excuses! - This is your year to destroy it!

Get ready for Mobile Home Madness in 2010!

Here’s an easy tip that WILL EVENTUALLY save you time and money!  I have recently remembered this due to my sometime lack of organization. Let’s just say I lost a few forms and tore my office apart looking for these 2 forms.  They were in another folder mislabeled.

*Create a new folder for every deal you have.  Whenever you send tenant-buyers a letter or form place an extra copy into the corresponding folder.  If this tip seems easy than I can tell you are serious about your investing career!  Remember make 2 copies and keep 1 for yourself.

_ John

Answer to Posted Question: What Goes Into an A+ deal?

This is a great question by a motivated investor that’s putting together a package deal from what I’m guessing is a burnt out landlord.  This is not uncommon when dealing with any type of real estate.  Investors study and learn so much about creative financing and buying that they overlook how to property manage their tenants or tenant-buyers.  Eventually many landlords get burnt-out and just want to liquidate their portfolio.  Or the sellers just getting older and want to collect payments instead of managing properties.  I feel that this question can help many readers… here’s the question.

Hey John! Great info here man. I really appreciate you putting this information out here. I’ve been interested in mobile homes for little while now and I have a question. I came across a deal where a guy is selling 4 mobiles in a decent part of town on land that is on a long term lease with option to buy the land. He’s selling for $29,000 on an owner finance. The mobiles pull in $1650 a month. He’s asking for 20% down. In your opinion, is this a good deal or should I pass? Thinking about offering 10% down. What do you think? Thanks in advance for your response!

My response:

Great question! Thanks for following along.  There are a lot more factors that will go into the deal.  It’s so important for everyone to do their own due diligence before buying anything.

These are all questions and things to consider…

Depending on the condition of the 4 mobile homes $29,000 is not out of the price range.  I typically don’t pay over $5k for a 3/2.  But the chance to pick up 4 mobile homes with owner financing is worth the price increase.  At this price the homes should not need any repairs and should all be at least 2 bedrooms preferably 3.

Do the homes make $1650 before or after the land lease fee?  If $1650 is net monthly profit, minus of course what you’ll pay to your seller, you’re in good shape.  If you still have to pay a land lease I wouldn’t want to net under $1,400 (minus the owner financing fee) for all this work.

Do the homes already have tenants in them?  if not you need to negotiate no payments for X months.  And if they do how is their payment history?  How long is their lease for?  If month to month – Is there any room to raise rents?  Do the current tenants want to eventually own the homes?  You should always visit the homes AND meet with the tenants before you buy.  Ask the tenants directly what works and doesn’t work in each home.

How long is the land lease?  Will you be forced to move the homes in a number of years?  What is the amount of the monthly lease?  Who pays for property taxes?

We’ve established that $29,000 isn’t too high of a price to pay.  More importantly what’s the interest rate?  0% is ideal, and depending how motivated the seller is he may be open to 0% interest.  Also if you agree to pay him more per month than what he first offered you, he should be more apt to sell the homes with little to no interest.

Important to consider: This seller may have more property that he will sell you later on down the road once you’ve established yourself a reputable buyer.  I have gotten many deals this way! For this reason I said in the beginning that the price is acceptable if the homes are in good condition.  It is worth paying even double the normal price if A. they cash flow day One B.  They don’t need any repairs and C. you make a great real estate connection that will sell you more property down the way.  Just make sure he’s not trying to sell you a pig in a dress!

Miscellaneous questions:

Why’s this guy selling?  Does he have titles in hand?  Will the homes need any updating or rezoning once you buy?

NEGOTIATION TIP: Whether buying or selling the person who is more emotional about the homes will typically lose in the negotiations.

NEGOTIATION TIP: Try to get whatever monies you put down to be considered the first few months payments.  Example:  if you put down $5k and negotiate to pay the seller $500 a month, try to negotiate the $5k to be considered the first 10 months note payments.  This is typically easy to do.  Even if you don’t get the full 10 months “no payments” you may get 5 months to recoup expenses.

I wish I could give you a “HELL YES” or “NO WAY” if its a deal or not!  But I would defiantly say its worth the time to investigate further.

PS. Don’t let the seller bully you around.  Make sure you’re super happy with the final deal!

Anyone that has a question please ask!  I try to answer every question.

Happy investing

-          John

Why a park may not want you investing there!

Most parks will have NO problem. If they do have a problem, try to defuse the issue and find out what the real problem is.  It is probably a misunderstanding.  If they actually have a problem with “investors” buying and reselling the properties on terms, then you do not want to be in that park anyway.

There is really no reason why we could not buy a home and resell it.  (Unless we do not get approved by application process.  Maybe you have too many felonies.  Use a “partners” name and information and cut them in on some profit.)  As long as we pass the background/credit check there should be NO legal issue why buying a mobile home then simply reselling the same home, even if we hold a note and mortgage.  If the park is this strict in the beginning we do not want to carry out a relationship with them.

Why they might say NO; sometimes the managers do the same things we do and don’t want the competition. (This is rare.)

Most managers will say YES and be happy to take your lot rent money.  Some managers may need to call their cooperate office to check if they allow this type of buying and reselling.

Excerpt from Make Money Now!!!

- John

…5, 4, 3, 2, 1… Blast off!

Have to just do a quick post today!  Everyone have a great new year… Lets “Crush It” in the New Year!  (Crush it stolen from Gary Vaynerchuk new book, Crush it!)

Just wanted everyone to share in my excitement…  I just got accepted to be the Newest (and youngest I think?) contributing writer to the www.biggerpockets.com website!  My specialty of course will be Manufactured and Mobile Homes!!  It’s an amazing opportunity for sure.

If you haven’t checked it out before you need to soon.  It’s a great source for expert Real Estate info, giving mentors, new friends, colleagues, deals and JVs.

“Have NO Fear” I will not stopping writing to YOU here! – “The Truth about Making Easy Money w/ MH’s Must Be Told!”

Enough Business for the Year… Here’s a cool video I found on brain magic!

HEY – add me as a face book friend if you haven’t already!

Giving the “Prospective Buyers” the Home information… anwsering the phone yourself OR… THE EASY WAY?

After getting the same questions over and over and over and over and over and over and over (you get the idea) you may get tired of answering the phone all day.  You can pay an answering service to answer your calls.  I do not find it necessary to hire the pricier service with live operators.

I have a very cheap answering system with a local number and extension that allows me to leave a 3-5 minute detailed message explaining the ins and outs of the mobile home, repairs, application process and address with direction.  At the beginning and end of the message give your phone number; instruct the caller to call you if/when they are in the front yard.

Warning: The following sounds cheesy but it works like a charm! (Use descriptive words, different tones and inflection in your voice.)

Hello, Thank you for calling the _____ (your business) _____________________________________.  You have reached extension number ________ for the property located at _____________________ in the ________________________________ mobile home park.  At the end of this brief message you will be given a number to call for instructions to access the home.  It may be wise to have a pen and paper ready to jot down pertinent information during this message. For your convenience this message will repeat itself once should you miss anything.

We are offing a 1990 doublewide mobile home with 2 car carport and large shed.  This home features 1400 square feet of heated and central cooled living space.  3 large bedrooms and 2 full sized bathrooms with tubs make this home very easy to love.  Kenmore fridge and range stove compliment the large kitchen with breakfast nook.  Carpet, tile and linoleum cover this homes flooring.  Enjoy quite barbeques outside with the family on your rear deck with a stone walk way leading you to the driveway through the amply sized back yard.

A child friendly large playground and club center are for the pleasure of all residents and guests.  Two small pets are allowed in this park.  Park is centrally located near schools, grocery stores, malls and YMCA.

This beautiful mobile home needs minor cosmetics inside including; paint inside 2 bedrooms, a few small holes in the drywall, and minor cleanup of junk and toys scattered around the home.  It is for this reason and a fast sale we are selling this home for a discounted price.

Stop throwing your monthly payments away every month.  The home is for sale on our “Rent to Own” program.  (Be and sound sincere!) Now, you are able to own your own home with no bank approval.  We make it the simple and easy to finally own a home of your own.   Starting day one you will own this home and be paying on a small note and mortgage.  We do all the financing in house and you never need to go anywhere else to own this lovely home.

We are asking $2,500 down and $473 plus lot rent per month.  Lot rent to the park, which includes trash, sewer and water is only $250 a month.  Your “out of pocket” per month to own this beautiful mobile home is only $732 dollars.

If you wish to have lowered monthly payments or do not have the full $2,500 to put down for this home we may be able to work out a specific deal depending our your unique situation.  If for example you would like a reduced monthly payment, a larger down payment can be arranged.  If you don’t have the full amount down but could afford to pay more monthly, we may be able to arrange a possible financing option for you.  We are not a bank and therefore can be slightly flexible with your payments and down payment.

The total sales price is 15k amortized over 10 years.

If you are standing in front of the home and don’t want to waste another minute please call XXX-XXX-XXXX, again that number is please call XXX-XXX-XXXX.  You will then be given the access code for the lockbox on the front door.  Inside the lockbox is a key to the front door.

The address to the home is _________________ again that address is _________________________.  Directions from 275s south are _____________________________________________.  Once in front of the home please call XXX-XXX-XXXX.   We will give you the code for the lock box on the front door.  Once inside the home please notice all improvements made and repairs needed.  If you like the home the next step is to take an application to gain approval at the park office.  Please fill out and submit an application provided for you on the counter top.  If none are available please go to the front office.  The office hours are Monday through Friday ten to four.  The application fee is $25 a family.  Once you are approved we will give you a call an arrange all details.

To discuss the terms of the home further please call XXX-XXX-XXXX.  Remember nobody make it easier to own your next home than ________( business name)_______.