Are you considering purchasing a mobile home, but not sure of the benefits? In this episode of The Academy Presents: Real Estate Investing Rocks, we welcome back Franco, Franco discusses the difference between owning a mobile home versus renting an apartment. He explains how to finance a mobile home in a park setting and learns about the advantages that come with ownership such as appreciation and tax deductions, privacy, and amenities.

Join Angel and her esteemed guest to explore the HOA rules and regulations in various communities, and provide advice on who to contact for repairs and maintenance. If you’re looking to enter the homeownership market – despite being blue-collar workers.

Tune in now to gain insight into building equity in your home over 20-25 years, rather than 18 months, plus how to avoid stigmas of issues or park owners taking advantage of their residents!

[00:01 - 04:17] The Benefits Of Equity, Appreciation, And Tax Benefits

• Angel welcomes back, Franco Perez!
• Mobile homes are no longer mobile once they are taken off axles and wheels
• Owners of mobile homes are responsible for maintenance such as plumbing

[04:18 - 09:01] Financing Options For Mobile Home Communities

• Mobile home communities have HOAs with different levels of strictness
• Newer homes come with warranties and are HUD certified
• Financing options for newer mobile homes include 20-25 year chattel loans
• Space rent is taken into consideration when calculating loan qualification

[09:02 - 12:09] Buying Mobile Homes And Equity With Secure Financing

• Mobile home communities are dealt with differently than residential lending
• Consulting is offered to help park owners
• The focus is on helping the end-consumer and blue-collar workers start their homeownership journey
• Standard associations help shift mobile home parks to avoid taking advantage of residents

[12:10 - 16:35] Closing Segment

• Franco shares his insight into building equity in your home over 20-25 years!
• Listeners can visit beacons.ai/franco.tv to learn more about Franco and his work

Tweetable Quotes:

“There are different layers and our intent is really to help out families that'll move into these parks, and that's our mission and our goals.” – Franco Perez

“Everything's becoming standardized and there's associations that help us really shift these mobile home parks to work in this particular way, where they're not taking advantage of their residents. And I think that helps all parties, so it keeps our industry looking good.” – Franco Perez

You can connect with Franco through his:

Email: [email protected]

LinkedIn - linkedin.com/in/francotv

Instagram - instagram.com/francosiliconvalley

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