Invest In US Mobile Homes From Abroad: 3 Must-Haves
Whether right down the street or across an ocean mobile homes and other affordable factory-built housing can equal to large returns on your initial capital investment. Many times our mobile home investing members purchase homes for under $5,000 with the opportunity to triple or quadruple their money within a few short years.
It's a fact that most people need a home to call their own and would rather own then rent. Whether located in major cities or in rural areas, mobile homes scatter the landscape of the United States from coast to coast.
Over the past 4 years I have been involved with mobile home transactions (private sellers to investors) in almost every state in the US. If you are interested in educating yourself and learning more about becoming a Mobile Home Investor abroad see the 3 Must-Dos below.
1. Know Your Role: In every real estate transaction there is enough room for ONLY partners who contribute to the deal. Concerning mobile home investing and flipping there are only a few roles that need to be filled.
Eyes and Ears Partner: This is the member that will be local to the subject mobile home property. The job(s) of your Eyes and Ears Investor is to find deals, interact with sellers, take pictures of the subject property, estimate repairs, speak to local parties involved, help facilitate close procedure, locate a suitable buyer, and/or manage the property.
Money Partner: The Money Partner is the partner who will be lending the acquisition money to purchase the mobile home.
Leader Partner: The Leader Partner is the partner that orchestrates the deal, creates the purchase offer, and/or structures the deal. This can often times be the “Eyes and Ears Partner” however in transaction where an experienced investor is leading the entire sales process, this is your Leader Partner.
2. Have Local Eyes and Ears: To make your Mobile Home Investing abroad life easier you should always have a local investor involved in your deals. This Eyes and Ears Partner will have a vested interest in making sure everything goes through smoothly and will likely be the local investor that found you the deal.
This investor should ideally be a friend of yours with a good track record of following through with what he/she begins. It is important that this investor has a good real estate investment education or will be receiving a good education from an experienced mobile home investor. If your Eyes and Ears Partner does not have much mobile home investing experience they must get properly educated before risking your capital.
3. Get Educated: The education is the easy part. It is easy to tell someone what to do and where to go. The tricky part is the practical application of speaking with sellers, crafting the right purchase offers to ensure you make money, and know what your subject mobile home will resell for once bought. With practice most new investors find 50+ motivated seller leads their first few weeks of joining our Mobile Home Investment training.