In the last couple of years, there has been a major paradigm shift in the way people think about the place they call home.
Previously, people bought houses, not just for a place to live, because they saw it as an investment which would hopefully go up in value. The objective was that they could make money when they sell their home then reinvest that money in a bigger and better house. The 'keep up with the Jones's' mentality was alive and well in America.
Others would used their home as an ATM machine and refinanced every time there was a little equity to pull out.
But things have changed - dramatically!
Millions of Americans have seen their dream turn in to a nightmare when the value of their home plummeted and they now owe more than the house is worse. Suddenly, Americans could no longer afford their home or their lifestyle.
Many million more have already lost their home to foreclosure.
But everyone must have somewhere to live and American's are rethinking what they really need in a place to live.
150 millions Americans no longer want the "old" American Dream which requires a mortgage payment for 30 years. They prefer the safety of a free and clear home or the flexibility of just renting so they are not tied down and can easily move from town to town for in search of work or safety.
Here's how it breaks down:
75 million thirty-something Americans, knows as the Echo Boomer generation, see a mortgage as a noose around their necks. They prefer to either rent or buy an affordable home which they can pay off in 3-5 years.
75 million Baby Boomers, those at or near retirement age, have seen the equity in their homes plummet and their hopes for a secure retirement vanish. This age group is downsizing in mass. Many are taking what little equity that's left in their homes and using that cash to buy a mobile home or smaller house.
Between the Echo Boomers and the Baby Boomers, that's 150 million Americans, or HALF of the population of the United States who have changed their strategies for where to live.
These uncertain times have created two big opportunities for you, the investor:
(1) MOBILE HOMES: Both the Echo and Baby Boomers are buying mobile homes to live in. Sales are way up. Mobile homes are often the most affordable place to live. In these tough economic times, people are willing to trade the fancy lifestyle for the security of knowing they have a place to live that is paid for. Many mobile home buyers are paying cash so they have no mortgage payment.
Others are attracted to mobile homes offered with seller financing because they can be paid off in 3-5 years. These buyers say they would never want to get stuck with a 30 year mortgage again.
People who had never considered living in a mobile home (and never been inside one) are pleasantly surprised at how spacious and well built mobile homes are.
(2) RENTAL PROPERTIES: Vacancy rates are way down for rental properties. Those millions of people who lost their home to foreclosure still have to live somewhere and most prefer to live in a house vs. an apartment. Many of these tenants have good jobs and good credit but simply stopped paying on a mortgage that was more than their house was worth. Many of my tenants were previous home owners who say that, "home ownership is way overrated" They don't want the responsibility for taxes, insurance, and maintenence. They want to rent a house or a mobile home.
The big advantage for renting a mobile home is they get 'more bang for their buck'. So demand for mobile home rentals is way up... especially doublewides on land.
Your customers have clearly changed what they want.
But....have you changed what you are providing for them?
You really need to learn about investing in mobile homes, both in parks and on land. That's where 150 million American's are looking for a home.
At the Ultimate Mobile Home Bootcamp in Norfolk Virginia October 29-31st you'll learn how to:
>> Find older mobile homes you can buy for less than $2000 then resell for $10,000 in days
>> Find mobile homes you can buy for $2000 then resell with seller financing, get $2000 down,
then payments of $300 per month for 5 years or more
>> Find 2,000sf 3 bedroom, 2 bath 5 year old doublewides on an acre of land that you can buy
for $25,000 then instantly resell for $90,000 cash or with seller financing or
>> Rent out the same home for $900 per month!
Mobile homes are where the ACTION IS!
With 150 million American's wanting mobile homes, you really need to learn how to capitalize on this business.
