A lot of gurus out there will tell you that rentals are the way to go. Im here to tell you that they are not. In this video I break down why I consider mobile home rentals to be the “kiss of death” and the reasons why I use other strategies in my mobile home investing rather than rentals.
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Hi, I’m Chimene Van Gundy, bestselling author and mobile home millionaire and in today’s video we’re going to talk about buying mobile homes to rent out. Now, a lot of other gurus out there will tell you that rentals are the way to go. I’m here to tell you they’re not. In fact, in this industry, in the mobile home industry, I call them the kiss of death and these are the reasons why. One, you have no pride of ownership with rentals and renters. They’re just like, well, it’s a rental. We don’t care. They’re not going to change your filters and most of the time they will not keep up with the property giving you a very, very big costs with repairs and that takes away from your return on investment. Also, repairs can cause a lot of damage. They’re not taking care of things like plumbing or electrical at all, which also can take away again from your ROI and they do have a, I don’t care attitude, but what I love in mobile homes that is actually the kiss of gold is owner financing and this is when you get to be the bank. This is when you actually sell the home to them. The home belongs to them, but you maintain that lien just like the bank or if they you have a lien on your data trust. This way the renters know that they still owe you money, but because they’re paying for it, they’re most likely gonna change that filter and keep up with that mobile home because after all, they own it. So any repairs that happen, they have to fix. This is how I feel and this is the strategy that I’ve used to fix and flip more than 500 mobile homes to date, and I hope by sharing this, this helps you to stay away from the kiss of death in this industry and actually harness the power of your kissing gold.
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You’ll also discover:
- Why Mobile Homes are little boxes that are easy to overlook… yet massively profitable!
How To Become A Real Estate Expert With NO Previous Real Estate Experience
I’ll Share Exactly How I Acquire 25-30 Mobile Homes Every Month with Nothing Out of Pocket