Question about mobile home course

Hi,

Has anyone bought the mobile home course by John Fedro, Mobile Home

Madness? I just wanted to see what you think of it. I’ve read Deals on Wheels

but he says that he is teaching creative techniques in mobile home investing

that no one else is teaching. I am wondering what these techniques could be?

He says you can make a lot of money in mobile homes in a short period of

time without any money and credit. Is this true? Also, does anyone know what

he is referring to as a an “Agreement for Contract for Option?” He says this

form alone is a $97 value, for a form?

His whole course is $297 as an e-course, that kind of sounds like a lot. Has

anyone spent that much on a mobile home course before? He says that it

includes unlimited coaching for 6 months and that is priceless. He includes

some bonuses in his course but I’m not sure if their important. What do you

think of these, are they necessary? There’s one on tips, tricks and traps to

avoid that he says is worth $47, another one on note buying that he says is

worth $97, a worksheet to analyze rehab costs called a rehab analyzer (has

anyone heard of this?) that is valued at $47, access to updates (not sure what

this is) that is valued at $97 a month, forms valued at $97, an agreement

with contract for option valued at $97 ( I still don’t know what this is, does

anyone here? do I need it?). Has anyone tried this course?

He does have a video where he talks about what his course covers and how much with the costs that can be found here:

http://mobilehomemadness.com/get-started-now

It says here his profits and has a picture of the checks with the titles to

them too:

$66,950 profit, $706 profit per month for 10 years

$47,719 profit, $551.06 every month for 15 years

$52,000 profit, $900 passive income every month for the next 10

years

$79,560 profit, $1100 monthly cash flow

$36,500 profit, 650 per month for 8 years

$69,700 profit, $655,78 per month

When I looked at these numbers, I just wasn’t sure how real they were.

It just seems too good to be true to make so much money in so little

time unless there’s something that other people don’t know, which he’s

claiming since he says he teaches creative techniques that no one else

is teaching. That’s why I decided to post here to see if anyone else has

bought his course.

I’m just wondering because this course seems like a lot of money and I’m not sure if all this is necessary, I don’t want to buy something if I’m not going to use it. I would really like to build up cash flow and achieve financial freedom, but I’m not sure if this can happen as fast as he says.

Here is something taken from the faq section that says what is different

about the course from others:

Q. How many hours a week should I expect to spend investing in mobile

homes with your program?

A. We here at MHM first and foremost want you to invest safely and with

minimal risk. We advise for all first time investors to purchase 1 new/used

mobile home PER month, get the mobile filled and running right, then move

on to the next one and so on. With our program this process should take 2-3

hours a week.

Q. How much cash reserve should I have in the bank before I start investing?

A. Technically you don’t need any cash reserve to start investing in mobile

homes. However, anything over $500 on hand is encouraged to get you on

your feet smoothly. Our negotiations and fast turn-around times before we

ever close ensures we are out as little as possible with holding costs. And YES

it is easy to purchase homes with no cash out of pocket.

This can be found here:

http://mobilehomemadness.com/faq

He also has a blog where he talks about mobile home investing. There was

one thing I read, he recommends putting homes in personal property trusts.

What is the difference between that and an LLC? Does anyone do that here?

This is what he says about trusts:

(http://mobilehomemadness.com/blog/162-personal-property-trusts

Why We Use Trusts?

So wouldn

Hello Paula

Where can I sign up to make that kind of money? Yes, Paula you and the rest of us should all sign up immediately!! No one on any of the three mobile home forums that I follow for the last five years has reported making these kind of profits in mobile homes. I’ve been in the mobile home business for 19 years and the most I ever made in one deal is far less than Jfed makes on every deal. So it appears that I’ve been wasting my time following the experts advice on the above forums I read and participate in.

However, for $34.95 you can order Deals on Wheels at:

http://www.real-estate-online.com/catalog/b-103.html

Price: $34.95

Better yet read all the archives in this forum and the above one for free for the next two months and then decide what you should do.

Mike

Thanks for your reply Mike, I’ll do that! I just want to make sure that I get my money’s worth, I don’t want to spend money for an unnecessary course. I will go through the archives and read the forums and just stick to Deals on Wheels for now. Thanks again for your help!

Paula

I agree with Mike.

Something is fishy. CLEARING $500-$744/ mo. on each and every MOHO must be unique to Tampa. If lot rent is $400-500/mo. The buyer pays $900-$1244/mo. In his area John says this is less than local rents.

That is great but my local rents in a metropolitan area are $500-$600/mo. With typical lot rent here at $275+ there isn’t any making $500/mo./home!

Steve

Have you checked out the George Allen Certified Manufactured Home Manager Course? He is in Indiana & has written several books. He offers either a 1-day course or a home-study course. T: 317-346-7156 or 877-633-4764.

Just a real quick look at Tampa I found: 8 lot rents from $100 to $486 : and sales in same parks above from $199 to $35,000. But, John is averaging net income of $760 a month per deal and almost $60,000 per deal profit. House rents for 3 bedrooms seem to be around the $1100 per month range. How does he do it? Here

Thanks for the suggestion, Dale. I haven’t checked it out, I’ll look into it. I appreciate your help!

Thanks Mike for the information on Tampa, I appreciate you taking the time to look into the market there. I wonder the same thing about John’s claims to get his homes to cash flow and profit so much. Thanks for the info!