In this episode of The Deal Finders Podcast, I sit down with my good friend, Adrian Smude – a mobile home investing expert with a knack for finding gold where others see junk. Adrian shares his unconventional journey from spaghetti wrestling parties and eviction notices to building a successful portfolio of mobile home rentals. We discuss why you might want to ignore your banker’s advice, how he stumbled into the mobile home niche, and the massive opportunities available in this often-overlooked sector of real estate.
If you’re curious about mobile home investing, how to find deals through relationships instead of cold calling, or how to build a lifestyle-first business, you won’t want to miss this conversation.
Episode Highlights:
[0:00] - Introduction
[2:22] - Adrian’s wild introduction to real estate: from tenant to landlord with zero experience.
[3:53] - The turning point: buying his first house at age 20 and living rent-free with roommates.
[4:31] - Losing his second home in a short sale and the hard lessons he learned.
[6:42] - How the advice from his banker led him astray.
[7:49] - Discovering the power of local REIA meetings and building relationships.
[10:35] - The story behind Adrian’s first mobile home deal – and the numbers that hooked him.
[12:22] - Why mobile homes with land can be a hidden goldmine.
[14:45] - The importance of consistent networking and being a “broken record” about your niche.
[16:36] - How to evaluate the land value in a mobile home deal.
[20:30] - The power of choosing a niche, taking imperfect action, and asking for help.
[24:15] - Adrian’s advice for beginners: pick your strategy and commit to it for at least six months.
5 Key Takeaways:
1. Listen Beyond the Bank:
Bankers give advice based on traditional lending models, not wealth-building strategies. Seek out seasoned investors for a broader perspective.
2. Mobile Homes Are Underrated:
Mobile homes with land offer high cash flow with less competition – if you’re willing to look past the stigma and do the work.
3. Networking is Essential:
Most of Adrian’s deals come from word-of-mouth referrals thanks to his consistent presence at local REIAs and his willingness to tell everyone what he does.
4. Take Imperfect Action:
Don’t let fear of mistakes hold you back. Commit to one strategy, take action, and learn as you go.
5. Evaluate the Land, Not Just the Home:
In mobile home investing, the dirt often holds the long-term value. Understand the potential and risks of the land before making a decision.
Links & Resources:
• Connect with Adrian: AdrianS360.com
• Adrian’s Book: How to Buy Mobile Homes
• Join us at DealFinders.club to find your next deal
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