In a report by Statista, there were about 582,462 homeless people living in the United States, compared to 580,466 in 2020. Within the provided time period, the highest number of homeless people living in the United States was in 2007, at 647,258.
For this week’s episode of Get into the Cash Flow with K&K, Franco Perez guest stars in this episode on how mobile homes is slowly changing the landscape of property investing.
Breaking the stigma and stereotypes of mobile homes
Franco is a self-made entrepreneur from immigrant parents and has seen first-hand how renting can eat away at your income. For him, mobile homes are the most practical solution to owning your own property. It is also an attractive option for those who want to build their own property investment portfolio.
As a child of immigrant parents from the Philippines, they had to make ends meet which led him to a career in real estate. He started working for agents by handing out flyers for this. This work eventually led him to become an agent as well. Early on, he realized that selling multi-million houses isn’t for him but it gave him an idea for a business.
Mobile homes are often associated with everything that doesn’t define what a home should be. And this is what Franco wants to change. Franco believes that mobile homes are a practical solution to high rental rates in Silicon Valley. He started by flipping old mobile homes which he dubs ‘making it sexy.’
The re-branded houses would go for around $250-350k and they would look as trendy as any brand-new house on the market. From renting all their lives, he gave his clients the opportunity to own the houses they live in. This transformative power empowers poor communities to become financially stable.
Owning mobile homes is also a stepping stone for a lot of his clients into building their own property portfolio. He has said that refinancing support has been getting better, thus, giving a lot of people the means to invest in mobile homes.
The equity you built in mobile homes can eventually be used to buy more mobile homes or any other property that could add to your assets.
Mobile homes are not only a great asset to have in one’s property portfolio but it also elevates the communities as it improves the overall morale of the people in the community whether they occupy these mobile homes or not.
WATCH the full episode above to learn about Franco’s journey and his vision for the future of mobile homes.
Learn more about Franco Perez HERE: https://www.francomobilehomes.com/
Learn more about property investing from Kenny & Krystle HERE: www.getinthecashflowgame.comflowgame.com
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