The past few months have been quite eventful and challenging on a global level. However, despite all the changes, interest in the mobile home market has continued to rise.
In this week’s episode, EZU reveals some industry insider updates as lockdown restrictions are gradually lifting nationwide.
Don’t hesitate to check out the video for the full interview, especially if you want to learn more secrets about the latest sweet deals. Until then, read on for the EZ Homes June update in brief.
COVID-19: How did the mobile home market cope?
Overall, we were able to easily adapt our mobile home investment process to an unprecedented situation like this. We were already using many methods such as Facetime that are ideal for social distancing and that made doing business possible during these times.
But it wasn’t all business as usual as we didn’t have the option to go to the homes physically. Thus, the technology was and continues to be a significant aid in facilitating sales.
Now that restrictions are lifting, there is an encouraging surge in the market. There are more leads, more interest, and more sales, as there are fewer pandemic-related rules to follow, and as people feel ready to face the world again.
Mobile homes vs. stick-built homes
One reason why mobile home investment has been able to fare relatively well in these choppy waters is the unique qualities of these properties. The structure and physical features of manufactured houses make them far less complicated than stick-built homes.
From the foundation to the roof, mobile homes leave you with less to worry about. Significantly, your inspection and assessment don’t necessarily have to concern the lot your home sits on. Because of this, these processes will take less time and effort.
Mobile home investment is all about being able to work within unique circumstances. Experience teaches you how to make the best of each particular situation. This is something that was emphasized with two of our latest deals.
A helping hand
One of the beautiful things about mobile home investment is that it is not always just about profit. Often people are truly desperate to get a home off their hands as it only costs them time and money.
In one of Dan Leighton’s recent deals, he bought and sold a home from an elderly man who wanted to move to a care facility. But the man needed the sales agreement from the mobile home to secure his placement.
At this stage, he had not been able to care for the home fully for several years. As a result, the property was filled with dirt and debris and even a nest of mice. His asking price was quite low at $350 as his only other option would have been to pay to have the home demolished.
It took some hard labor and a dumpster to clean up the mobile home. However, in the end, this was the best option for him, the park, and Dan as the investor.
Dan bought the home for $350 and sold it for a whopping $7,500. With experience, you learn to see a deal even through the trash.
You can perform a good deed in cases like this while still making big bucks from the investment.
Investment is like a chess game. You have to work strategically. Recently, strategy allowed Dan Paton to close a deal with a margin of $7,200.
The mobile home was a double wide that its owner was trying to sell to the park it was placed in.
However, they were lowballing him. The park was offering $4,000, but the owner still owed $18,000 on the note. Aside from this, he had to pay over $1,000 every month in lot rent and utilities.
Luckily, he had sold a home through EZ Homes in the past and had a relationship of trust with the company. Therefore, he sold the property for $10,000 to Dan and also provided $8,000 to help cover the debt.
The park was now willing to buy the double wide for no less than $17,000 from Dan. Their new plan of action had paid off.
Once all was said and done, the previous owner was free to move to his new home. As part of the agreement, Dan gave the former owner some of the returns so he could even put some money in the bank.
Finding a niche
Both of these investments demonstrated the wealth of opportunities that are available in this specific mobile home niche. Different investors go for different types of homes and offers.
Many investment companies on the market are mainly interested in flipping luxury properties in the higher price ranges. This means that the margins are often higher. But on the downside, the turnover takes much longer, and your initial investment needs to be much larger.
On the other hand, at EZ Homes, we focus on mobile homes in a different category. These are homes that are available at a lower price range, yet where the profit margins are still significant.
Plus, as our recent investments demonstrate, you can close these deals in weeks or even days. Buyers and sellers in this niche are eager to get going. You won’t need to wait for months to get cash in your pocket.
It is all about balancing the risks vs. the rewards. Generally, mobile home investments in this category are incredibly low risk while yielding generous returns.
Take the future in your hands
EZU partnership programs have been growing exponentially as more people are ready to jump into the mobile home market. These partners benefit from Dan Paton and Dan Leighton’s knowledge and experience through daily webinars and ample resources.
An education in mobile home investment is the ideal pathway to take control of your own and your family’s future. All you need is a guiding hand.
02:20 How did the mobile home market cope with COVID-19?
05:20 Mobile homes vs. stick-built homes
06:00 Latest deals
18:50 Finding a niche
21:00 What EZU brings to the table