033: The Mobile Home Market

Glenn Stromberg is a good friend who is also a brother of the Collective Genius Mastermind and Freedom Founders. Glenn is an expert on mobile homes. He buys them, fixes them, and flips them to his investors. He is very open about his process and explains why he prefers the business model.

Glenn tells me what a mobile home is now and how it differs from a manufactured home. He highlights the bright side of his market and gives the audience an idea of what a typical investment opportunity would look like with his company. Glenn’s market stretches from the Fort Worth area all the way to North Carolina. These are two totally different markets and Glenn paints an informative picture of both.

MINUTES MARKERS

00:00 — Introduction to the Big Mike Fund Podcast.

00:21 — Welcome Glenn Stromberg to the show.

01:15 — About Glenn and his territory.

01:41 — The two types of mobile homes.

02:22 — Why the second type is really considered real estate instead of a mobile home.

02:47 — Can mobile home residents get a FHA Loan?

03:35 — Glenn’s typical business model.

05:09 — Mobile homes are the best kept secret in real estate.

06:07 — Are mobile homes and manufactured homes the same thing?

06:21 — How modular homes are different.

06:32 — A brief overview of the history of the mobile home space.

07:41 — How mobile homes have improved in quality.

08:16 — The differences between Glenn’s Texas and North Carolina markets.

11:00 — The private mortgage option for investors.

11:26 — Why Glenn chose to work with mobile homes.

11:52 — Who manages Glenn’s properties?

12:48 — How the 2008 housing crisis affected Glenn’s business.

13:28 — The typical price of one of Glenn’s properties.

16:33 — The typical agreement with an investor.

20:18 — Supply and demand affect the market.

21:20 — Does Glenn do any ground-up work?

22:12 — The typical rehab project for Glenn.

24:10 — Glenn’s contact information.

25:50 — Why Glenn likes the mobile home market.

27:54 — Thank you to Glenn for joining us.

28:33 — Outro to the Big Mike Fund Podcast.

RESOURCES

Big Mike Fund

Stromberg Investment Group

817-966-1258 (Glenn’s number)

Glenn’s email

 

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