Over ten years ago, I decided to dive into real estate investing full-time after reading “Rich Dad, Poor Dad” by Robert Kiyosaki. The book sparked my interest in passive income as a way to achieve financial freedom. Once I finished it, I set my sights on real estate as my route to reach this goal. I planned to accumulate enough cash to eventually buy and hold properties for steady income. Little did I know, the journey would be rough, and I was not ready for the challenges ahead.
Rachel Hernandez, also known as Mobile Home Gurl, shares her experiences in her book “Adventures in Mobile Homes: How I Got Started in Mobile Home Investing and How You Can Too!”. She regularly writes and produces videos about her adventures in mobile home investing.
Starting Out
Initially, I found deals for other investors. My background as a business-to-business sales executive for a Fortune 500 company made spotting opportunities and negotiating contracts second nature. One of my first deals was incredibly successful, earning me a year’s worth of salary. This fueled my drive, and I kept building up cash until I could start buying and holding single-family homes for consistent income.
Life as a Landlord
Once I had enough cash, I bought a small portfolio of rental properties. However, being a landlord was far from what I imagined. What I thought would be easy turned into a nightmare. There was always something to fix, and I was constantly getting calls, even late at night. Eventually, I hired property managers, but managing them was still a headache. I was miserable.
The Breaking Point
After years of being a stressed-out landlord, dealing with endless issues, I hit a breaking point during an eight-month-long eviction process that involved the courts. My property manager called me on the day of the eviction, asking if we could make payment arrangements with the tenants. I refused; I just wanted it over. After the eviction, I decided to sell off my entire real estate portfolio.
A Life-Changing Course
As I pondered my future, a small green course on my bookshelf caught my eye. It was “Deals on Wheels” by Lonnie Scruggs, a guide to mobile home investing. This course had been gathering dust for five years. I started reading it, and it changed my perspective on making money and life in general. Inspired, I decided to dive into mobile home investing to live a life where I did what I wanted, not what I had to.
Becoming a Mobile Home Investor
In the beginning, things were chaotic, and I made many mistakes. But I learned from every deal and property I acquired, which led to a steady stream of income that lasted for years. I bought every home with cash, owning them outright without mortgages hanging over my head. Choosing residents for these homes was a learning process—sometimes I made poor choices, but I also made some good ones. Through these experiences, I learned how to free up my most valuable asset: my time.
Nowadays, life is much more relaxed. I have time to do what I enjoy. Through mobile home investing, I’ve found a sense of community with the residents and neighborhoods I work in. Business is done the old-fashioned way, with a smile and a handshake. Since I work with individuals who have a homeowner mentality, I’m no longer constantly disturbed. Occasionally, I get a call to handle an issue, but it’s rare.
Life can be unpredictable. You might think you’re heading one way, but end up going in a completely different direction. This wasn’t the path I originally chose, but it’s the one that ultimately worked for me.