What’s an easy way to make a lot of money in the state of Texas? Invest in mobile homes. That’s what Frank Rolfe says – he’s the entrepreneur behind Mobile Home University. It’s a three-day boot camp that teaches you how to make money buying up trailer parks.
Rolfe joins the Texas Standard to talk about how he got into the business.
On what people learn in the boot camp:
“They learn everything from how to identify to evaluate, negotiate, perform due diligence on, finance, turnaround, operate, and even sell mobile home parks. So basically everything from A to Z.”
On how mobile home pricing compares to other rentals:
“The nationwide average for mobile home lot rent is $275 per month, roughly. So if you own your own mobile home, let’s say you have a three bed two bath mobile home on a lot, you can basically get by paying $275 a month plus utilities. And I think the average apartment rent in the U.S. right now is $1,170 per month, for a three bedroom. So it’s about $1000 a month less than many of the alternatives.”
On if the mobile home business can be profitable:
“It’s a very profitable business if you do it properly, it’s a disastrous business if you don’t. There are certain things about mobile home parks that are different than other forms of real estate that trip people up.”
Listen to the full interview in the player above.
