Podcast Episode #50: Land Investing and Mobile Homes
Seth (who goes by the pen name E.B. Farmer) is a successful author and real estate investor who specializes in land investing.
In my first podcast guest interview, I talk about his background as a real estate investor including how he got into the land investing business, how it’s done and how he incorporates mobile homes into it and so much more.
Seth (E.B. Farmer) is the author of The Land Flipper: Turning Dirt Into Dollars and he blogs about his work at TheLandFlipper.com.
Tune in to hear:
- how to buy land and incorporate it with mobile home investing
- Seth’s formula for buying land and selling it
- why and how buying land can be useful as a mobile home investor
- and more!
Where to Find Land to Buy
Seth talks about exactly where and how he finds the land to buy including his exact formula for doing it. He says it’s just like mayonnaise where you “buy 100 jars of mayo, and sell it for one” each individually.
Most of the land he buys tends to be in rural areas where there’s not many zoning restrictions. So, it’s easier for him to conduct business and put mobile homes on top of the land he buys without having to deal with city or county regulations.
In the interview, he talks about how he finds land including the size of the land, how far the land is from population centers, and what exactly he does with the land once he buys it.
How to Buy Land From Sellers
Once he locates land to buy, Seth talks about how he buys them from sellers. In the past, he’s been able to work with small banks and buy on owner financing. Though recently, he’s been using cash to buy land with the current market and demand in his area.
He goes on to talk about his experience working with partners and gives advice in this area for those just starting out.
Mobile Homes and the Land Investing Business
After he’s bought the land, Seth goes on to talk about how he prepares the land for resell and exactly how he incorporates mobile homes with the land investing business.
He talks about the things that are important when it comes to mobile home buyers and what they’re looking for when purchasing a piece of land. Also, he goes into the process of working with buyers and how to find them.
Finding Mobile Home Buyers for Land
Once the land is ready to market, Seth talks about how exactly he finds buyers for the land he has for sale. In the past, he’s worked with mobile home dealerships and done several marketing techniques to get the word out and find buyers.
Though, there’s one specific technique he’s using right now to find mobile home buyers for his land which seems to be working. He talks about how and why he was hesitant to use this technique in the past but surprised that it actually works in his current market.
Selling Mobile Homes on Land
When it comes to land sales, Seth talks about his techniques about how exactly he sells the land he buys and how he incorporates mobile homes into his business on the selling side.
He talks about what he’s done in the past, what has worked and not worked, the results of his choices, and how he sells land with mobile homes today.
Also, we talk about the different ways of selling land with mobile homes including when to use seller financing, work with banks and his thoughts on rent to own (versus lease options) for these types of transactions.
Mistakes and Real Estate Investing Advice?
At the end of the interview, Seth talks about some of the mistakes he’s made and real estate advice he has for those just starting out.
An entrepreneur’s life is governed by fear or lack thereof. So, it becomes more about managing your fear.
Fear is what stops people from becoming great and making the mistakes necessary in order to learn. Even successful real estate entrepreneurs (like Seth and me) still get scared even to this day.
According to Seth, it’s this fear that tells you that you’re on your way to doing something great.
You’ve gotta risk it for the biscuit!
Learn how to harness that fear and make good use of it because it’s fear that will make you a successful real estate investor.
Land Investing Course
If you’re interested, Seth has a land investing course which I took and reviewed. It’s an excellent course packed with the information you need to invest in land. I highly recommend it!
(Note: Be sure to check out my course review for a special discount for readers of this site. Thanks for your interest!)
Resources Mentioned:
Podcast Episode #49: How to Protest Taxes – Mobile Home Investing
Amazon Author Profile: E.B. Farmer
Sponsors
Thanks For Listening!
Thank you so much for taking the time to listen to the forty-seventh episode of this podcast. If you enjoyed this episode, please be sure to share this post with family and friends. And if you have some time, I’d love to hear your thoughts through a short podcast review. Stay tuned next time!
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