I’m Steven Jack Butala.

I’m Jill DeWit, and this is The Land Academy Show.

This is episode number 2,116. Jill and I are talking about pricing mobile home lots for maximum returns. We all know about, you either love pricing or you hate it in your offer campaign. I personally love it. I’m not sure Jill can say the same thing, she just lets me do it. She just believes in the process.

I totally do. It’s fun. When the phone calls are coming in, I never know what it’s going to be.

One of the sub-questions here could be, do you price mobile home lots differently? If you do, how do you get maximum returns? We’ll talk about that in a few minutes.

Love it.

All week this week, we’re talking about adding mobile homes to your land flipping operation. It makes so much sense. You’re already doing a mailer anyway, just do 2 or 3 extra steps and get a whole new business model in there. Each day on the show, we answer a question from our Land Academy member Discord forum and take a deep dive into land-related topics by popular request.

Tandy wrote, “Complete newbie here. I’m a Canadian living in the United States, currently based in Georgia, and I’m excited to join Land Academy after attending our free workshop. Starting 2025 with this incredible community feels like a significant step forward for me. I have multiple projects in the works, and my investment goals include completing the course material by January 31st, sending my first mailer by the end of February, and working towards buying and selling multiple properties throughout the year. By day, I’m a landscape designer/planner, and I’m also launching a virtual and remote landscape design business. If anyone needs help with land surveying or drone shots/surveying for their properties to sell, feel free to reach out. I’m happy to help. I’m excited to learn, grow, and share wins with all of you. Looking forward to connecting and being part of such a driven and supportive community. That’s awesome.” Glad you’re here, Tandy. This is awesome. It’s great.

I don’t think there’s a question.

Sitting great. Did our script person miss it?

We have a new script person, a question-gathering person.

This is really good. I’m glad. We can pause and just say, “That’s what this community is.” I had a really good chat with a member the other day who is a real estate attorney. I’m like, if you want to provide some value to the group, just drop that little nugget in there into Discord, and people would love to pick your brain about getting some of these things done, like probate issues and all that good stuff. It’s amazing, the smart, helpful people that we have in our community. I’m very proud.

Jill and I had a staff meeting this morning, and one of the staff members said, “The people that are joining Land Academy are really smart.” I said, “Stop the meeting. Give me the profile.” She said, “They are in the industry already and frustrated.” If you’re in the real estate industry, and you’re reading this, and you’re frustrated, you’re about 80% ahead of somebody who’s not familiar with the terminology in real estate, just not familiar at all. If you’re a real estate agent, if you’re a lawyer, if you’re, like Jill said, a landscape architect, and you understand some stuff already, you want to add a new income stream to what you’re doing.

Pricing Mobile Home Lots For Maximum Returns

This is not a massive learning curve jump for you. It’s very possible to do that. Our topic, pricing mobile home lots for maximum returns. We all know once we locate a few areas that seem to be conducive to sending mail, we have to sit down and do a mailer and price it. I personally price mobile home lots, I start out, anyway, pricing them exactly how I would price vacant land property. If they’re conducive to putting a mobile home on it from a legal standpoint and then in the municipality or the county or whatever, great.

That’s upside for me. I sent out, I thought it was going to be a regular piece of vacant land. It turns out you can put a mobile home on there, even better. I do the same thing. I price it as if it’s a vacant piece of land. The property comes back, it’s already got one on there, or it used to have one on there. All the utilities are there. We know what’s possible now. What’s possible is phase two due diligence. We say all the time, “Once it passes the eight A’s in phase one, we’re going to find out what’s possible so we can give the idea to who you sell it to, what’s possible.” I can put a mobile home there.

I’ve never had any issues selling any properties where they’re mobile home friendly and allowed. Those fly off the shelves. Let me just give you a little tip. Whatever you’re doing, you’re just buying and selling land, you’re like, I don’t want to do the mobile thing. I’m just here listening for entertainment purposes because I have low standards or to fall asleep tonight.

Properties that are mobile-home-friendly fly off the shelves. Share on X

In fact, if you’re already asleep, let’s put some stuff in your subconscious.

This is good.

Mobile homes. You love mobile homes.

Buy your wife diamonds.

You deserve a new RV.

There we go. Take your kids to Disneyland. You need a vacation. This is good.

Having another child is not a good idea.

Don’t adopt the puppy. This is good. If you’re buying and selling land and you’re like, this is not in my wheelhouse, but you come across properties, and when you do your checking, you find out from the County, “What’s possible? What can I do with this? What are the setbacks? What’s it zoned for?” Add this to your questions. You should automatically be asking, “Can someone put a mobile home on there?” Find out because if it is, you celebrate that and put that in your title when you post this for sale, because that’s a big deal.

How do you know?

It’s valuable.

You call planning and zoning. Probably now in the County where the property is, there’s a good chance you’re going to call the number, and they’re going to say, “What’s planning and zoning?” In fact, you call the County courthouse. We used to have a real estate department, and we don’t have that anymore.

The County would say that?

Yeah.

Sometimes.

Understanding Market Value And Profit Margins For Mobile Home Lots

There’s a shocking number of no compliance. I’ve had multiple people at counties, usually a county clerk or somebody on the clerk of the board, say this sentence to me, “It’s your land. Do whatever you want.”

I love that.

That’s the greatest situation.

It makes me so happy when they say that.

You should celebrate that when you go to sell it.

That should be in the title, “It’s your land. Do whatever you want, per Susie at such-and-such County.”

If you’re in an area where mobile homes are prevalent, they’re all around, and you’re mailing that area, take a look at what they’re going for. What are mobile homes selling for in an unregulated area in an unincorporated part of a County? There are all kinds of mobile homes that have sold in the past. You’re going to know.

I don’t say, don’t do this in the mailer, price the mailer as if it were vacant. If you’re real experienced at this, you can take a look at what’s going on in that market. Mobile homes are selling for $200,000 and $300,000. You want to make sure you’re in between 5% and, at the max, 10% of the value that you know it’s a completed project. Five percent is better.

On the sell side or on the buy side?

On the buy side.

I can sell it at 10%, 15%, 20%?

Yes. You can sell at 10%, 15%. That’s doubling or tripling your money.

That’s what I’m saying.

Sometimes, you have to go where the money is. Share on X

You want to explain that in the posting. You want to say, “This property, at this price, which we believe is a wholesale price, not a retail price at all, is conducive to installing a mobile home and reselling it, if you want to, for profit.” Why aren’t you doing it, Jack, then? It is because I don’t like construction.

True.

Jill and I are not contractor construction people. Trust me.We’ve tested this.

We do it. We don’t love it, but you have to go where the money is sometimes.

Join us again where we discuss what to avoid when adding mobile homes to your portfolio. You are not alone in your real estate ambition. We are Jack and Jill, information and inspiration to buy undervalued property.