Investing in Trailers with Jay Harvey | 439

In this episode, Chris Miles brings in a great guest in Jay Harvey

Jay and Samera Harvey founded Trailer Cash Academy in 2019, which is the fastest-growing mobile home investing education and training program in the country.

Jay and Samera’s academy trains investors on how to close their first real estate deal in under 30 days with little or no money flipping mobile homes in parks. Together, Jay and Samera have created a thriving online community where hundreds of students can support and partner together on deals across the nation.

trailercashacademy.com

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Chris Miles (00:00):
Hello, my fellow Ripplers! This is Chris Miles, your Cash Flow Expert and Anti-Financial Advisor. Hey, I welcome you guys out to this show because this show is for you and about you, those of you that work so hard for your money, and you’re now ready for your money to start working harder for you today, you want that freedom that cash flow, that prosperity, not 30 or 40 years from now, if the market smiles in you just the right way, buying crappy mutual funds, but you want that freedom today, to be able to live that life. You love doing what you love with those you love. But on top of that, it’s not just about your own prosperity, right? It’s about creating a Ripple effect for the lives of others. Because as you’re blessed financially, you can bless the lives of those around you and create a massive legacy.

Chris Miles (00:48):
And guys, you are part of my legacy. So thank you so much for being a part of it. I can guarantee you guys are the best awesome podcast listeners out there today. You know, I know there’s different people that have their own opinions, but I gotta say, like, when I hear talk to you guys and stuff, it’s, it’s always incredible. So thank you for so much for following us. Here’s a reminder. You can check out our website WWW.MONEYRIPPLES.COM Or you can get that eBook Beyond Rice and Beans, Seven Secrets Free Up Cash Today to find more resource. And by the way, if you haven’t done so subscribe to our YouTube channel, where it is the Money Ripples with Chris Miles. So go ahead and check that out as well today, guys, I got a special guest here. I’ve got a guy by the name of Jay Harvey.

Chris Miles (01:26):
Now, when, you know, as I always tell you guys, like when I get pitched by different people you know, I say no to the majority of guests that are pitching me and some of them have great portfolios resumes and that kind of thing. But this one was like a hands down a hundred percent. Yes. Right? Like I was like, I gotta have these guys on my show. And so particularly I’ve got here, Jay Harvey. Now Jay Harvey is actually the founder of Trailer Cash Academy, right? His Academy, actually, trains investors on how to close their very first real estate deal in under 30 days, get this with little or no money, flipping mobile homes in parks. The numerous student testimonials online prove that their system actually works and is driven by results, which is what the show’s about as a results driven. Right? In fact, one of their students get this was able to purchase a 40 unit mobile home deal for only $8,000 and create a portfolio worth over a quarter million dollars in just 90 days on their very first deal. Together, Jay and his wife scenario have created a thriving online community where hundreds of students can support and partner together on deals across the nation. So Jay, welcome to our show!

Jay Harvey (02:31):
I appreciate you having me. Thank you.

Chris Miles (02:34):
Absolutely, man. So how in the heck did you get into, you know, trailer stuff? Like, I mean, you know, I almost want to say trailer trash, but how’d you even get into that, right? Like what, what even led you down that path?

Jay Harvey (02:45):
Yeah, man. So my wife and I, you know, we went up the corporate ladder, you know, we sipped the Kool-aid, we did everything our parents told us to do. And in terms of school, getting that job, working, you know, looking to have kids get the house, the whole American dream. And we were just like, we got there, we just weren’t happy. We weren’t feeling like we were being fulfilled. And we honestly felt like we weren’t hitting our our true potential in life. And we try to do things. We try, you know we were looking to open a gym today together. we did personal training. I was selling crazy wrap things with network marketing and things like that. And eventually we stumbled across a real estate investing. My wife actually came across a ad with Rich Dad, Poor Dad. We went to one of their events and you know, we were so hooked in that we dived in head first and unfortunately came across a bad mentor and that journey, we lost $30,000 on our first

Chris Miles (03:45):
I believe it. I knew people that coach in that program for $12 an hour, that was their pay to coach somebody that paid 30,000.

Chris Miles (03:51):
Yeah, it’s bad.

Jay Harvey (03:52):
Yeah. And this mentor, he was separate from, you know, Rich Dad, Poor Dad. I just wanted to throw that out. There it’s actually someone we met at a real event and just, you know, just one of those shady mentors got us into a deal. We were so green and naive. The deal was actually being foreclosed on. And so while that is going through, we also have another product that we’re working on a fix and flip and we invested $60,000 on this home. We thought we would see a return in about three or four months, 15 months to get a return. So we’re just out of all this money. We’re like, man, what do we do? We know we’re not passionate at staying at our job. And if we decide to stay here, it’s going to take us years and years to pay off all this debt.

Jay Harvey (04:34):
So we decided like, Hey, we learned our way to get to this point. We got to learn our way out of it. Thankfully, I had some really good friends, invited me to another real estate event. And this guy, he was about 80 years old. He was talking about mobile home investing. He said he was making about 20 to $25,000 a month. I’m flipping the mobile home. Wasn’t using much of his own money. He’s like, Hey, if you’re in real estate investing and you’re not using mobile home investing as a way to free yourself from your job, you are, you know, you’re missing the boat. So ran home, told the mayor about mobile home investing. She said the same thing you said, trailer trash. Nah! That’s not the way to do it. But you know luckily I have a really good wife. We took some time to research together found out the opportunity that exists here and opportunity to serve other people because of the affordable housing crisis. And up to date, we’ve done over 400 transactions and have post hundreds of students across the country on how to close their first deal with mobile home.

Chris Miles (05:36):
That’s awesome! Yeah. And there’s different facets you can take with trailer parks, right? I mean, you can do the trailers themselves, but you can also get the land or you can do both. Correct?

Jay Harvey (05:46):
Absolutely. What’s really cool. Is like you said, you can work in mobile home parks. There are investors out there that actually buy and sell mobile home park or buy and hold a mobile home park. And then you can even go on the real estate side whenever you have mobile homes on land. So we specifically focus on mobile homes in parts or the mobile home is on land and they just need that mobile home move. We’ll look into that Avenue as well.

Chris Miles (06:12):
Right. So break it down for us. Like you got to tell us. How did that student go? Like take 8,000 bucks and create a quarter million dollar portfolio in 90 days? Like how did that work?

Jay Harvey (06:22):
Yeah, man, it was really, really cool. So he found this opportunity where the park, they came under new management. They’ve had a ton of homes in this community that needs a little bit of repair work, but not too much. It’s just the park owner. They just didn’t have the time or the desire to want and get to one, to actually go into these homes, do the, fixing the thing, you know, find the buyer and then get them to sign the lease agreement with them. So our guy had a student queue he actually negotiated with the park. He said, Hey, I know you’ve got a ton of homes here. Let’s work out a deal. He was able to purchase these homes for $8,000 and then able to put a little bit of work in the many of the homes.

Jay Harvey (07:06):
They didn’t need any work. They decided to actually sell them as is. And the reason he was able to create this $250 an hour portfolio is because many of the homes he was selling, he wasn’t just cashing out. He was actually doing buying, holding with these homes. So he would put them on a market, find a buyer. You knew he wasn’t, he was only into this home, this entire deal, $8,000. And most of the bills that were coming to that were bringing down payments anywhere from two to $5,000. And then he was creating longterm notes with these homes. Some of these homes, were going as high as 35, $40,000. So unique situation, not every student gets blessed with an opportunity like this. However, when you have the right knowledge and you’re prepared and the opportunity comes you can take advantage of, and that’s what he did.

Chris Miles (07:53):
Yeah. That’s, that’s $200 per unit. I mean, that’s just cheap

Jay Harvey (07:57):
Yeah, yeah. Honestly, when we saw the deal, we didn’t believe it. We were like, no, not what you, first of all, being brand new. And second of all, we had never done anything like that. And he was actually a real estate agent at the time before doing this full-time. So he had some good networking, you know, we had a little bit of insight about this opportunity before it even presented itself to the market. So he just took advantage. He started making the right calls and he had our knowledge and just combined those things and was able to present a lot of value to the marketplace. Cause in his particular area, there’s a lot of buyers out there that were looking for affordable housing and couldn’t necessarily afford regular traditional, single family homes.

Chris Miles (08:41):
Yeah. Now, why would you say somebody should have this part of the portfolio? Because we’ve had people on here that of course talking about turnkey, real estate investing, right? And buying rentals of single family homes or duplex fourplexes. And we’ve had everybody all the up to apartment buildings with multifamily syndications and things like that. You know, why do you feel that that mobile homes and parks are like where it’s at?

Jay Harvey (09:03):
Yeah. when I’m talking in terms of where it’s at, I’m thinking about that individual, first of all, who may be new, that’s talking about this individual, they’re looking to close their first deal. We know what obstacles they have to face on their traditional real estate side. And we’re just saying, Hey, there’s an easier way. You need less resources, less time. You’re not dealing with you know, title agencies and things like that. You’re not dealing with appraisals. You’re not dealing with inspections. These homes are pretty similar to selling a used car because we’re just dealing with a title to the home. And most of the time, at least the deals that we work in, we’re not going in and making these HGTV projects. So you’re able to get in and out and sometimes less than just a few days, sometimes even just a few hours.

Jay Harvey (09:49):
And for that individual that is more seasoned as not just going in, looking for that quick wholesale opportunity. Well, there’s a lot of people, again that need these homes that are willing to come in and pay you payments for these homes. The cash flowing anywhere from four to six years on each property and you start doing the math, you start adding up, Hey, if I do four to five of these, each month, this cashflow starts to build up and then you have that knowledge. You take it a little bit further. There’s also mobile home park investing where you can generate even more cash flow that for that individual, that’s looking for that more longterm, sustainable income of 30 plus years or more.

Chris Miles (10:30):
So let’s go with that. Let’s, let’s go with two different people that might come to you as students, right? So let’s say one of them is a brand new newbie. They haven’t gotten to real estate. Cause they’re like, they’re trying to save up at least at $25,000 down payment or whatever. Right? But they maybe they’re up to like 10 or 15, like let’s take them. And then we’ll go with somebody who maybe has a few hundred thousand or more dollars that say, why would they do it too? Is let’s start with the person. That’s the newbie. What would be an example of what they could purchase and what kind of cashflow they could get out of that?

Jay Harvey (10:57):
Yeah. So any individual that is brand new now, let’s just say they’re coming in with only 10 to $15,000. We’re actually teaching them, Hey, build as much money in your business. First focus on revenue, revenue generating activities, and what revenue producing deals that don’t take using your money. So we’re usually teaching them to focus on wholesaling for the most part, when they’re just getting started. Since you’ve even focused on broker deals where you still don’t have to use your money you’re just using your time and your knowledge so much,

Chris Miles (11:31):
more transactional wealth that way.

Jay Harvey (11:33):
Exactly! Exactly. A typical deal. Most of our students they’ll come in and find an opportunity where an individual either once they in retail or wants to stay in the wholesale market, they want to stay at wholesale market. They might find a home that’s worth $15,000 retail, but this individual, for some reason, very distressed or motivated, you might be able to pick up that home for 2000 or $3,000 easily put it on the market for less than that. 15. Let’s just say they sell it for $10,000. Now, you made $7,000 very, very quick.

Chris Miles (12:09):
Right?

Jay Harvey (12:09):
If they want to stay in that retail space, let’s just say they want, you know, closer to $12,000, we’ll sell it. At 15, we collect our $3,000 commission as a broker feed. And boom! You’re good to go. You made 3000 and your seller is happy when you’re and we wanted to talk about the other investor, correct. The seasoned investment a hundred,

Chris Miles (12:31):
Or they may not even be seasoned. They might just say, Hey, I’ve got money to sit in and savings here. Like, I’ve got a lot of cash. I want to be more of a passive investor. Right? Cause I’m busy. I don’t have to like babysit a lot, like, and a lot of them even think how I want to deal with toilets, tenants and trash as much, but you know, you know, minimal work, right? Like what would you recommend for them?

Jay Harvey (12:52):
I would recommend a couple of options if you want to be more hands-on. If you’re just looking to just bring on more and more cashflow and you know, that a hundred, $200,000 that you have is not growing. You could come in as a new student and look to specifically just buy and hold deals, buy and hold mobile homes. And the great thing about having that much cash as you can do even more marketing that the average newbie couldn’t do. So think about this. Each home that we cashflow we’re usually typically cashflow on anywhere from 300 to $600 per home. If you start doing that again, four or five, 10 times per month, because you’ve got so much marketing dollars to spend each and every month, that adds up pretty quick. But then there’s those investors that say, you know what? That’s cool, but that sounds like work each and every month. You know, at this point in my life, I’m looking to just settle down, looking to retire. And that case I would actually recommend you going into looking into mobile home park, investing itself because you have so much money. You have so much liquid cash, 100, $2,000, $200,000. You’re going to be able to look into even financing these mobile home parks, seller financing with mobile home parks, creating even longer cashflow with more cashflow versus just being the Hunter, looking at deal over deal each and every month. So,

Chris Miles (14:10):
so they become the bank.

Jay Harvey (14:13):
Exactly. Exactly.

Chris Miles (14:14):
Yeah. And what would that look like? Say they had $200,000. They want to throw into something like this. Like what, what could that look like with the deal? Maybe like an example of one that’s been done with by you buy you or one of your students for example

Jay Harvey (14:25):
And for mobile home park investing, I don’t want to give out the wrong information because we haven’t gone into mobile home park investing in that’s something that we haven’t wanted to do. However, we have worked with individuals that have 100, $200,000 that actually want to get back in the field, working with mobile homes. And yeah, the great thing about them is they’ve been really able to zone into marketing most individuals that are new. We say with the basic levels of marketing, driving for dollars, communicating with park managers, real estate agents, and even putting out bandit on. But for those individuals that have a lot more money to spend, what they’ve been able to do is to set up a pay-per-click campaign, utilizing Google set up a huge direct mail campaign where you can work for yourself or partnering with other investors in your area. And they’ve been able to buy multiple homes in bulk each month, again, that somewhere between four to 10 and now that scalable as far as parks I don’t want to get into those numbers just because I haven’t done a park deal myself yet. Usually most of those individuals, we steer over towards individuals that have more season done at least 10 deals before you can give out any type of advice. That’s just our routine.

Chris Miles (15:38):
They understand that the nature of the business more. Right?

Jay Harvey (15:40):
Exactly.

Chris Miles (15:43):
So you started out with mobile homes first, then you can move to parks later. It’s like step two, phase two for you.

Jay Harvey (15:48):
Exactly. And for us, we decided, Hey, we started with mobile homes first, but instead of going to the park direction, let’s go into the education sector. And that’s, what’s taken all of our focus and attention.

Chris Miles (15:59):
Sure. And what I can see with that is it’s definitely some of these, well, one, they’re going to take a little bit more of an active role, but like you said, with more dollars comes more marketing, bigger reach, right? More deals come to you as a result for that.

Jay Harvey (16:13):
And even on the ability to even delegate more, we can say, Hey, you have that type of money. You shouldn’t necessarily be out in the field doing every single thing yourself. You’re able to let other people, other people’s time, energy, systems and their resources as well. So a lot of those individuals that we worked with that have that type of cash sitting around, we usually tap them in with our team, our team also in the field, there are peers. They’re out in the field that are acting as boots on the ground, doing all the leg work, utilizing their processes. So those individuals are more like a hands off. They’re just putting their money in terms of resources versus they’re hard on energy.

Chris Miles (16:53):
Awesome! Love it. There’s some little something for everybody just depending where you’re at. Right?

Jay Harvey (16:57):
Exactly.

Chris Miles (16:59):
Fantastic. Well, if people want to like follow you or really, or even understand like what you guys do, your education and things like that, like how would they find you?

Jay Harvey (17:07):
Yeah. honestly I think our best platform right now would be YouTube, honestly, because we have so much free training on there. If you go to WWW.YOUTUBE.COM/TRAILERCASHACADEMY Even if you just type Trailer Cash Academy in the search bar, you can get lots in our video trainings, we got a ton of free trainings on there. We’ve got a ton of example deals that we’ve done. And we’ve got a ton of testimonials of students that we actually worked with over the past year has been a really fun ride,

Chris Miles (17:36):
Trailer Cash Academy, man, that is like the best name ever. Right?

Jay Harvey (17:41):
So if the mirror was here. She was a Trailer Cash with a C because people always say trailer trash. So make sure to get it right? Trailer Cash Academy

Chris Miles (17:50):
Trailer Cash sounds way sexier than Trailer trash.

Jay Harvey (17:55):
Exactly.

Chris Miles (17:57):
Awesome! Jay, I really appreciate your time. So everybody go check out www.youtube.com/trailercashacademy check out their videos and Hey, if that’s something route you want to take, I mean, I know there’s several of you that this could be the path you’ve been looking for. So definitely check that out. So Jay, thank you so much for our time and for your time today, man!

Jay Harvey (18:15):
Oh man! Thank you for having me. It was very fun.

Chris Miles (18:18):
Absolutely. 100%, man. All right. Well, everybody, I hope you make a wonderful prosperous day! Remember it’s not just about being a hearer of the word. It’s a doer as well doing is what leads to those results. And that’s the kind of stuff we talk about in this show is not just sitting around wishing we’re not living on hopium. We’re actually living on real cash here. This is about cashflow today, changing your life now. So you can live that better life today. So everybody make a wonderful week! And we’ll see you later.