Bastrop you're on my radar....and how mobile homes are a combination of a house and a car...sort of....

So I've been spending some time looking at the lovely town of Bastrop, Texas. I will admit for a long time I felt like Bastrop was the last spot of civilization on the drive out to Houston. Or it was where my friend Bob lived. But I haven't been to Houston in years and Bob moved out of Bastrop, so for a long time it just hasn't been on my radar. But as I mentioned in another post, part of my new strategy for this year is to start investing in land. And Bastrop has a lot of land!

I guess what I'm saying is, if you're asking yourself that age old question of "How can I sell my mobile home in Bastrop?" the answer is now pretty simple: call Carter! (512 534 8040 btw)

Now part of me realizes by writing posts like this I'm coming dangerously close to becoming a "Better Call Saul" type of guy. I think I'm okay with that although if I meet a guy with a pork pie hat and a German name, maybe I'll change my tune.

But anyway, I get asked how the "process" works and "what can you pay for my mobile home?" I think sometimes there's confusion on what mobile homes are worth because we tend to look at them as a combination of a car and a house.

The Car Part

So we tend to see a mobile home as a car for one main reason: they lose value over time. There's an old saying that when you drive a new car off a dealer's lost it immediately loses 30% of its value. Sadly this is true with mobile homes as well and was one of the factors in the 2008 economic meltdown as well as a reason why mobile home lenders tend to go out of business every 10 years or so and also why it's almost mathematically impossible for a mobile home to not be under water or upside down or whatever term you want to use to describe a home where you owe more than the home is worth. That was a long sentence!

The point is mobile homes lose value and many times they are bought at dealerships. Because of this, people start to think that they can "look up" the value of a home like you'd look the Blue Book value of your car. The problem with thinking this way is they're only looking at the "car" part of the equation. And to tell what a mobile home is worth, we need to remember the "house" part as well.

The House Part

There's yet another old saying that I'm sure you've heard about the three most important things in real estate: "Location, location, location". This is true with mobile homes as well but for some reason people tend to forget this when they start talking about what they're mobile home is "worth". The problem is what a mobile home is worth very much depends on where it is.

Now what makes mobile homes unique is this is true even if you do not own the land the home sits on i.e. the mobile home is at a mobile home park. So a mobile home can be worth one amount at Park A and the exact same mobile home can be worth a different amount at Park B. And what makes mobile homes unique is Park A and Park B can be right next to each other. Every mobile home park is essentially its own neighborhood.

Now where people get tripped up is they remember the "mobile" part of mobile home. Although you can move a mobile home it's an expensive process. The home not only needs to be loaded onto a truck and moved, it also needs to have all the teardown and setup costs which end up being anywhere from $3000-6000!

What I can pay for your mobile home

So when people say their mobile home is "worth" a certain amount, it has to be what that home will sell for right where it sits. As I've mentioned above, the home's value depends on the park or location. I can usually pay about 70% of what the home would sell for in move in ready condition. This means with new flooring, new paint, and everything else in good working condition. As my rambling in this post makes you realize, that 70% can vary a lot. So you'll need to call me and I'll come look at your mobile home. I probably just should have said that from the beginning, right?

Finding that "great" contractor - my experience with this necessary but un-fun adventure

So finding a contractor can be a tough endeavor. I guess I should say finding a good or even great contractor is the real challenge. Most people rely on word of mouth or possibly sites like Yelp or Angie's List. I wish I had some miracle solution that bypassed these obvious ones but I don't. In fact, for the first few years I lived in Austin I had a slew of bad contractors. So rather than tell you how to find the good ones, I'm just going to show some of the signs that you have a bad contractor. (Incidentally if you need a great contractor in Austin you should call Yamil Exposito at 512 483 1115. Check out my video at the end of this article. But okay back to my list of signs you have a bad contractor.

#1 The person who you explain the job to is not the person who does the job
This is a very common situation with some of the larger companies I've dealt with. I noticed it mainly with plumbers and electricians. I would lay out the details of the job, where I wanted things etc. to one plumber/electrician. He'd get to work but the next day there would be a different guy that showed up and I'd have to explain everything all over again. This happened with one company multiple times over a few jobs before I finally stopped using them. You shouldn't have to explain your plans more than once unless something changes in your plans.

#2 The contractor doesn't show up when building inspectors come by
This is something I put up with when I used to flip houses and looking back I have no idea why I did. Part of a contractors job is to do things up to the current housing codes and you should put this in writing on any contract that you sign. I would often times need to write down everything the inspector said needed to be fixed so that I could relay that information to the contractor who would then do the work and charge me more for it. Don't make my dumb mistake! Make sure you have it in your contract that all work done must pass all building inspections or the contractor will re-do at his expense. It's amazing how much better someone's work becomes when they know it has to pass an inspection.

#3 The contractor claims he can "do everything"
There's an old saying that goes, "A man can do anything he wants but he can't do everything." This is absolutely true in construction as well but people still fall for the "We do it all" types. The "do it alls" simply charge a premium then hire sub contractors to do the actual work at a discount. As a result you are never meeting or paying the actual people who are coming into your home and doing the work. Not only is this a little unnerving to most people it also costs you time and money. The reality often times is the "do it alls" will charge you double of what they will pay the subcontractor. I've had some of these guys even admit this to me directly. I would rather pay the person doing the work more and cut out the glorified middleman posing as a contractor. Pay people directly and you will get better work at a more affordable price.

#4 The contractor gets paid by the hour
While I tolerate this is rare instances for the most part I believe in paying someone for the task and not by the hour. The reality is, if given the option of "milking the clock" most people will. I had one group of contractors who would show up every day, then have to drive back to the office to "pick up supplies" on a job they had already been working on for over a week. Of course they wanted to claim that this driving time was "on the clock". Needless to say that was the last job they worked on for me.

#5 The contractor stops communicating
Things happen in life. A contractor not being able to show up for a few days is fine as long as they let you know about this ahead of time. What I can't (and you shouldn't) tolerate is contractors just disappearing without any explanation or warning and then re-appearing. I have some theories as to what the contractors I had hired were doing during that time but if this happens I recommend firing them right on the spot even if you're not getting all the work you "paid" for. It's better to cut out the cancer early than to let it fester. If a contractor disappears on you once I can guarantee they will do it again after you've paid them even more money. Don't make this mistake.

As I mentioned up above if you're looking for a great contractor in Austin, Texas call Yamil Exposito at 512 483 1115!

Land buying in central Texas or my new adventure for 2015!!!

So 2015 is a year of new adventures for me. While some might look at adventure as jumping out of an airplane or going on a safari, I look at it as trying something new business wise. That could just make me boring but I'm going to pretend it doesn't!

Over the last six years I have bought and sold mobile homes in mobile home parks. This has been a very interesting business but I’m seeing things start to change. One thing I’m noticing is it’s becoming increasingly harder to find good deals. This may just be in the Austin market where everyone and their mother is moving here. What I am noticing is a lot of people want to move their mobile home onto land. So I am putting the word out to all the sell my land for mobile homes in Austin people is that I’m a reliable, fast cash buyer for mobile home lots (and mobile homes!).

Now the reason this is important is there are A LOT of tire kickers in the mobile home world. Anyone who’s ever tried to sell a mobile home knows that they will have to show their mobile home to tons of people and will hear “I love it I want to buy it” over and over again from people they will never see again. This is an extremely frustrating situation. And people who want to sell their mobile home or their land for cash know that many of the people who call on the property will ask if they’ll take payments. It’s a frustrating experience.

So what makes me different is, first off, I’m reliable. If I make an offer, I intend to buy your property at the price I offer. I know a lot of investors make offers in a “shotgun” type of approach. That’s not me. I’m more of a sniper!

I also don’t make offers that I cannot afford. One thing that’s very common in the investing world is for people to “wholesale” property. This basically means they get your house under contract for a certain price, then advertise it to cash investors at a slightly higher price and pocket the difference.

So many of these “we buy homes in cash” people don’t really buy the homes, they simply find people who actually have cash. Any offer I make you can rest assured that I have that money in my bank account at that moment.

I’m also a fast buyer. If I’m buying a mobile home or land I can close on the property as fast as legally possible. This usually means about a week although sometimes it can be a little faster or slower.

The downside is I’m not able to pay full price for your mobile home or your land. The Carter Buys Mobile Home business is predicated upon being able to buy property at below market price, then re-sell it at market price. Simply put if you want top dollar for your mobile home or land and are willing to wait, then I’m not the guy to buy your home or land. I can always help you sell them though so don’t be shy either way. Just call me at 512 534 8040 and we’ll talk!

Mobile homes in San Marcos? I'll buy them!

So San Marcos, TX is one of my favorite places. It's such a fast growing small city but still has the charm that in many ways Austin has already lost. Sometimes I even picture getting some land out there to build a house one day. Of course I'd need a big barn for all my jiu jitsu and mma training but that's a whole 'nother story! One of my best mobile home deals and one of my first was also done in San Marcos so I like it for that too!

But it's been a while since I've done anything there so I need to get the word out that if someone is looking for a cash buyer for their mobile home, if they're asking themselves, "How do I sell my mobile home in San Marcos? I want the answer to be simple: Call Carter!

I've been thinking about what differentiates me from some of the other buyers that you’re going to meet when you’re trying to sell your San Marcos mobile home. I think there are really two factors that I have: speed and reliability. In many ways I think the reliable part is more unique and important when you want to sell my mobile home in San Marcos.

The main reason is there are a lot of “tire kickers” in the mobile home world. It can be an incredibly frustrating process trying to sell your home. You will show it to person after person, each of which will swear up and down that they have cash and want to buy your home. You might get excited waiting for their phone call like a teenager about to go on a date. But then you never hear from the person again.

When I first started this business about six years ago, this was the hardest thing for me to accept. I just didn’t understand how someone could seem so interested and then just vanish. As I did more and more deals I saw that this was just how things were. Buyers just disappear on you and there’s no rhyme or reason to it.

And while this is just something I factor into the cost of doing business for you the normal person just trying to sell my mobile home in San Marcos, it can be much worse. You might have anther home you’re looking to buy and you need the money from your mobile home sale to put down as a deposit. Or you might have a new job in a new town and you need money to move into the next chapter in your life.

Whatever might be happening, the important factor is you don’t have time to wait! That’s where someone like me can really help in your quest to sell my mobile home San Marcos. Because I will only make an offer on a home I fully intend to buy. And the money that I offer is money I have. And finally I have qualified for every mobile home park I have applied to and this is in many cities in both Texas and California. Basically if I say I want to buy your mobile home, I mean it!

So call Carter at 512 534 8040 and I’ll give you a free quote on what I could pay for your San Marcos mobile home!

To doublewide or not to doublewide?

So I guess there are some people out there that only buy singlewides. I am not one of these people. Thus if you are asking yourself the age old question of "How do I sell my doublewide in Austin?" the answer is simple: call me!

Now many times people will ask me "how does it work?" I know that there are people who talk about the book value of mobile homes and things like that. In my experience those things are not really relevant. The main reason being a mobile home is not a car. It's located on land or many times in a mobile home park. So where it's located plays a large part in how much it's worth and therefore how much I can pay for it.

I'm sure you've heard the whole "location, location, location" quote about real estate before. This is equally true with mobile homes. What I mean by this is you could take the exact same doublewides, built in the same year and factory, with identical amenities and put them in two different parks. Even if they are kept in identical condition years later, they will be worth very different amounts. And this can even be in two different mobile home parks that are literally right down the street from each other. I've seen this happen many times in Austin and other cities as well.

So this is all a long winded way of saying that I'll need to come look at your mobile home and mobile home park before I can make you an accurate offer on your doublewide. My end goal will be to buy your home, fix it up, and re-sell it. So I always start with what I think I can re-sell it for and work backwards. I calculate out the repair costs, the lot rent, utilities, taxes, and other expenses. From there I can figure out exactly what I can pay and then I make you an offer. I'm always happy to walk you through my numbers and if we can't make a deal, I have a separate business that helps people sell their mobile homes.

So give me a call if you want to sell your doublewide. I can buy it or help you sell it.

5 ways to find a cash buyer for your mobile home

Cash is always king but when it comes to selling your mobile home, this can be a tough challenge as there are very few ways for someone to get financing on a used mobile home. This is even tougher when you live in a mobile home park. But don't worry, there are still some tried and true methods to finding a cash buyer for your mobile home.

#1 Put your mobile home on Craiglist in the Real Estate - For Sale by Owner section. This alone may be all you need to find a cash buyer as I've sold many mobile homes just by putting an ad on Craigslist. Make sure to put "cash buyer only" in the title of the ad just so you don't waste time with people needing financing.

#2 List your mobile home on Postlets. This is a great free resource that will list your mobile home on Zillow, Yahoo, and several other large real estate websites all in one shot. You don't have to do anything other than put your home on Postlets and it will automatically go on those other sites. This is another very effective marketing tool.

#3 Put a For Sale By Owner Sign in your yard or window. Now I get a lot of flack for this one but you'd be amazed at how few mobile home sellers do this. And many of these same sellers tell me they're desperate and have tried everything to sell their home! Put a sign up and let the world know that you're trying to sell your home. And make sure to write your phone number in big bold numbers. I've come across many a sign that was nearly impossible to read. Don't make this simple mistake!

#4 Tell your neighborhood or mobile home park residents that you're selling your home. The easiest way to do this is handing out flyers. It won't take you that long to go door to door and you might be surprised at the response. Many times you will end up selling your mobile home to friends or relatives of people who live near you. So it's really important that you let those people know. And remember, someone could live in the same mobile home park as you and never drive by your home. So the For Sale sign is not enough. Make some flyers and get out there!

#5 Talk to your park manager about selling your mobile home. If you live in a mobile home park, the most important person for you to talk to about selling your mobile home is the park manager. I'd recommend asking him or her to broker the sale of your mobile home. This way they have a financial incentive to find you a cash buyer as soon as possible. You have to remember that park of a park manager's job is dealing with potential mobile home buyers. They have people coming into the office, calling them on the phone, and emailing them all day long asking if they have any homes for sale. It can save you a ton of time to have the park manager tell these people about your mobile home.

Now if you live in Austin, Texas or anywhere near that, remember that Carter Buys Mobile Homes so you may not need to do any of these steps! But if not, give them a shot, they've worked for me and they should work for you as well.