Rachel Hernandez suggests starting mobile home investing with education, highlighting resources like “Deals on Wheels” and her own “Adventures in Mobile Homes” to understand the sector’s intricacies.
Navigating the Path to Mobile Home Investing
Rachel advises tapping into podcasts like her "Adventures in Mobile Homes," where she discusses various aspects of mobile home investing. The goal is to absorb as much information as possible to build a solid foundation of understanding.
However, knowledge alone isn't enough. The transition from learning to doing is a critical step. Rachel recommends deciding on an investment strategy, such as buy-and-hold or generating immediate cash through wholesaling. For beginners unfamiliar with terms like wholesaling, she provides resources, including podcast episodes, to demystify these concepts.
Rachel’s journey began in a similar grassroots manner, starting as a bird dog in single-family home investing, where she located deals for others and earned from these opportunities. This experience underscores the importance of actively engaging with the market. Building relationships with park managers and owners, understanding the dynamics of different parks, and identifying preferred areas for investment are all steps that can pave the way for success in mobile home investing.
In essence, Rachel's approach to mobile home investing is a blend of thorough education and proactive engagement. Aspiring investors should immerse themselves in learning, then shift gears towards active participation in the market, always keeping an eye on the long-term goal of building a profitable and sustainable investment portfolio.
