Podcast Interview: Mobile Homes May Be the Future of Affordable Housing (Adulting Is Easy Podcast)
Recently, I did a podcast interview on the Adulting Is Easy Podcast with my friend Lauren Aumond. Here I talk about my journey as real estate investor turned mobile home investor including the history of mobile homes and the future of affordable housing.
Lauren opens by asking the obvious question, as she often does: what’s a mobile home? Rachel touches on the history of mobile homes and manufactured homes. They started as a home for rich people to take with them on their vacations! Now, they’re not moved very often in their lifetimes. They’re usually set on blocks, wheels removed, and hitches removed. Rachel points out that since 1976, HUD got involved and created some standards throughout the industry. Rachel shares how she became “Mobile Home Girl.” It started with wholesaling, which is what she’s doing (again) now. Lauren asks about how Rachel handles depreciating assets, financing, and insurance. She also rents out the homes and seller finances them as well, with lease options. Lauren straight up asks: what’s different about investing in mobile homes versus other asset classes? Interestingly, you need to build rapport with the park managers! Lauren shares that both her grandmothers live in mobile homes, and asks about co-ops, and Rachel explains what those are and how they work. Why hasn’t Rachel bought a whole park? Turns out, it’s a different business! There’s not as much freedom. Rachel is kind of enough to walk through numbers on not one, but two deals: her first deal and a very recent one. Lauren and Rachel end the interview speculating about the future of manufactured housing. The hope is that they are a part of the affordability crisis, along with tiny homes.
Listen to the episode here:
Hope you enjoy it. Thanks for tuning in! 🙂
If you enjoyed the interview, please consider supporting the show:
Thanks for your support! 🙂
