Dan and Nick Gibson are two brothers who have succeeded at doing something totally unconventional—they have closed 7-figure deals without spending their own money or shelling a single marketing dollar! Listen in as the two creative brothers share how they closed their first few deals, the things they take into account when looking for mobile home parks, and the structure they follow to get the funds they need. And that’s just for starters!
So if you want passive income and long-term cash flow, drop everything you are doing right now and listen to this episode. The information you will learn might just get you on the road to financial freedom!
Dan and Nick accidentally discovered an unpopular but highly lucrative niche a couple of years ago—mobile home parks! To date, they now have 50 single family and smaller family rentals. A year and a half ago, they’ve acquired a massive $1.8M dollar deal which provides them with $4,000 in passive income each month!
- Since they didn’t have any money when they first started out, they asked motivated sellers if they would be willing to finance the deal for them. In other words, even if they don’t have any cash, the seller agrees to act like a bank and pays the deal on their behalf.
- Once the seller agrees, they get creative with the terms, price, and even down payment and come up with a win-win situation both parties will be happy with.
- When looking for mobile park properties to invest in, they go to MobileHomeParkStore.com. That’s where they find broker’s list, mom and pop listing stuffs for sale, and all the other important information they need.
- Once they have identified an area they are interested in, they go to the county’s website and pull off the ownership information.
- When engaging with sellers, they highlight the importance of building rapport and getting on the same wavelength. Achieving both has been crucial to their success in the industry.
- Other consequential information you need to take note of in this episode:
- The importance of talking to people and letting them know what you do
- The things they look for when considering mobile home parks
- How to forge a partnership with them when you have a good deal you need expert help with
- The rough estimate for the price they are willing to pay per lot
- How you can get in touch with them if you want to know more about their processes and techniques
The real estate and wholesaling world can be full of surprises. What you think might be too unconventional to work might just bring in the big bucks. So, be open-minded and allow the creative juices to flow and you just might find a radical new way of gaining financial independence!
- Mobile Home Park Store
- Alan Cowgill of Private Lending Made Easy
- Trailer Park Bros Website
- Collective Genius
- Trailer Park Bros Facebook Page
- Rich Dad Poor Dad by Robert T. Kiyosaki