058 From Student Loans to Mobile Home Notes with Carl

Welcome back,

In today’s Mobile Home Investing Lessons podcast #58 we are talking to active Mobile Home Formula investor, Carl. In a couple short years, Carl has been able to cash-flow individual mobile homes to quit his full-time pharmacy job.

Selling a mobile home on payments = Down Payment + Monthly payments for over 60 months.

In this short time working together Darryl has become more confident investing in mobile homes, helping others, investing on his own, and growing a profitable investing business.

Carl has now transitioned away from his pharmacy career into a full-time mobile home investor and mobile home park investor. His wife is the next one to quit her career.

A special thank you to all the guest of this podcast. They will help more people than they know.

0:00 Carl’s Mobile Home Journey Begins

John opens the interview with a question every investor can relate to: “How did this all start for you?”

Carl smiles and admits that just a few years ago, he didn’t even know what a mobile home title looked like. He had been looking for a side hustle that could eventually replace his 9-to-5, and when he stumbled across John’s videos on YouTube, something clicked.

“I didn’t have a ton of money or a fancy background,” Carl says. “But I knew I wanted something that gave me control of my time. Mobile homes felt like a way in.”

Carl took John’s course, learned how to analyze deals, talk to park managers, and build relationships with sellers. Within a few months, he was knocking on doors, visiting parks, and taking small but steady action.

3:40 – The Emotional Rollercoaster of the First Few Deals

When John asks what those early days were like emotionally, Carl laughs. “I almost quit after my first deal,” he admits.

That first transaction was a whirlwind of excitement and stress. The seller backed out twice, the buyer’s financing fell through, and Carl spent nights wondering if he had made a huge mistake.

But when the deal finally closed—and he walked away with a large profit—something shifted. “It wasn’t just about the money,” he explains. “It was about proving to myself that I could actually do it.”

John nods knowingly. “Every investor remembers that moment when it stops being theory and becomes real.”

Use the time markers below to fast forward the podcast above.

• ✔️0:00 Carl’s mobile home journey
• ✔️3:40 Emotional first few deals
• ✔️4:50 Student loans to fund business
• ✔️7:50 Second round of funding
• ✔️13:00 Bigger and bigger deals
• ✔️16:30 Smaller deals VS Bigger deals
• ✔️22:40 4 deals per month
• ✔️30:30 Progress not perfection
• ✔️33:50 Owning self-storage
• ✔️39:30 Top 3 headaches
• ✔️44:45 Evictions are last resort

4:50 – Using Student Loans to Fund His Business

One of the most surprising parts of the conversation comes when Carl shares how he initially funded his business. “I actually used my student loans,” he says. “I had some leftover funds from college, and instead of spending them on something temporary, I decided to invest them in something that could grow.”

John chuckles but also commends Carl for his resourcefulness. “That’s what separates successful investors,” he says. “They find ways to get started, even if it’s unconventional.”

Carl emphasizes that it wasn’t about taking reckless risks—it was about believing in himself and betting on his education.

7:50 The Second Round of Funding

After closing a few early deals and reinvesting the profits, Carl hit a wall: he needed more capital to scale. Rather than stopping, he got creative again.

“I built a small track record—three successful deals,” he explains. “Then I reached out to friends and family who trusted me and showed them the numbers.”

That “second round” of funding allowed him to buy multiple homes at once and renovate them simultaneously. “That’s when I realized this could be more than just a side hustle,” Carl says.

John highlights this as a key teaching moment: “You didn’t wait until you were rich to start—you started, and that’s what made you rich.”

13:00 Bigger and Bigger Deals

With experience came confidence—and bigger opportunities.

Carl started buying double-wides, land-home packages, and homes inside 55+ communities. “The profits were bigger, but so were the challenges,” he notes. “It forced me to think more like a business owner instead of just a hustler.”

John points out that this is a natural evolution many investors face: “As you grow, the size of your problems grows, too—but so does your capacity to solve them.”

16:30 – Smaller Deals vs. Bigger Deals

The discussion turns to strategy. Should investors chase big deals or stack smaller ones? Carl’s answer is balanced.

“I still love the smaller deals,” he says. “They’re quick, simple, and low-risk. But the bigger ones let you scale faster and build credibility.”

John agrees, reminding listeners that both have their place. “The small wins pay your bills. The big wins change your future.”

22:40 – Four Deals Per Month

At this point, Carl reveals he’s now consistently doing about four deals a month—a mix of flips and notes.

“It didn’t happen overnight,” he says. “It’s just systems, relationships, and consistency. I spend most of my time now on follow-ups and referrals.”

John highlights this milestone as a testament to momentum. “You’re proof that steady effort compounds. One deal a month becomes two, then three, then four.”

30:30 – Progress, Not Perfection

When asked what advice he’d give new investors, Carl doesn’t hesitate: “Don’t wait until everything’s perfect. Just start.”

He admits he made plenty of mistakes early on—underestimating repair costs, trusting the wrong contractors, and overpromising to buyers—but those experiences became his best teachers.

John reinforces this mindset: “You can’t steer a parked car. Movement creates clarity.”

33:50 – Owning Self-Storage

The conversation takes an exciting turn when Carl shares his latest project: owning a self-storage facility.

“I never thought mobile home investing would lead to this,” he says. “But the principles are the same—buy under value, improve the asset, and create cash flow.”

Carl used profits from his mobile home business to purchase the small storage property. Now he’s diversifying his portfolio and enjoying the passive income.

John beams with pride. “That’s the ultimate goal,” he says. “Use mobile homes as your gateway to other real estate opportunities.”

39:30 – Top Three Headaches

No business is without its challenges, and John asks Carl to list his top three.

Carl doesn’t hesitate:

• Contractors: “Finding reliable ones and keeping them busy is always tricky.”
• Park Managers: “They can make or break your business. The good ones are worth their weight in gold.”
• Paperwork and Titles: “It’s not glamorous, but getting the documentation right saves so many headaches later.”

John nods. “Those headaches never go away—you just get much better at managing them.”

44:45 – Evictions Are a Last Resort

To close the interview, John asks how Carl handles difficult tenants. Carl’s answer shows both professionalism and empathy.

“I’ve learned to treat evictions as a last resort,” he explains. “Most people don’t want to be late—they’re just struggling. If you communicate and give them a plan, you can usually work things out.”

He shares a story about a tenant who lost her job and was two months behind on rent. Instead of evicting her, Carl helped her sell some personal items and set up a payment plan. She eventually caught up and even referred two new tenants to him later.

“That’s the human side of this business,” John reflects. “We’re not just dealing in homes—we’re dealing in people’s lives.”

Final Thoughts

As the conversation wraps up, John thanks Carl for his openness and authenticity. What began as a few mobile home flips has grown into a thriving business that funds Carl’s freedom and future.

Carl’s story is a reminder that mobile home investing isn’t just about properties—it’s about perseverance. From using student loans to buy his first homes to owning a self-storage facility, his journey shows what’s possible when you combine creativity, consistency, and compassion.

“Progress over perfection. That’s the secret to success in this business—and in life.”

In conclusion, mobile home deals rarely fall into our lap without regular work and effort. Expect to work harder for yourself than you do for someone else.

Mobile home investing should not be exciting, but rather a predictable, safe, rewarding and profitable business. Moving forward when you have any mobile home related questions please never hesitate to comment or reach out to the email below.

Love what you do daily,

John Fedro

[email protected]