January 10, 2022

126: Why are Manufactured Homes Superior? - Glenn Stromberg

35 minutes

Glenn manages a fund with a niche he likes to call ‘the best-kept secret in real estate. As opposed to traditional homes, manufactured homes are built in an assembly line in one location and then delivered to another location and installed. The homes then gain value over time. You won’t believe the returns they are getting and they’ve been at it since 2006. This has every feel of a niche that is made for income investors to prosper. Glenn “G-Pop” Stromberg dives in with Big Mike in what has made this so successful. They share market insights, refinancing perspectives and in typical Big Mike fashion, he breaks down the numbers for your viewing pleasure! High-level stuff, as usual. Watch it now!

HIGHLIGHTS OF THE EPISODE

01:14 - Big Mike and Little Glen aka “G-Pop”

01:59 - The best kept secret niche in real estate

03:56 - Manufactured homes vs regular homes

06:33 - Does economy scale for manufactured homes

08:38 - Numbers and rent price examples

11:19 - Two investment opportunities

12:14 - Inflation is here to stay

14:43 - Turnkey model for investors

16:45 - The post-COVID supply chain

18:26 - Is it possible to get financing?

20:00 - What about portfolio lenders?

21:20 - Important mathematics behind leveraging

25:18 - Budget your capital expense repairs

26:25 - Refi until you die

27:27 - Why sell properties?

30:44 - Net rate of return not gross

31:40 - Sell your soul to depreciation

34:14 - Superior to traditional turnkey products

Thank you for joining us in another episode. We are committed to inviting more guests that give value to our real estate journey. Stay tuned for more episodes. To learn more, visit our website at www.tempofunding.com.

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