My WIfe Buys Your Mobile Homes

Bootstrapped Unicorns: Entrepreneurship with Josh Pies

LINK TO YOUTUBE: https://youtu.be/fiswQL4semo

YOUTUBE CHANNEL: https://www.youtube.com/@BootstrappedUnicornsPodcast

ORIGINAL RELEASE DATE: December 14, 2023

RELEASE DATE: June 14, 2024

EPISODE: 13

SHOW NOTES:

My Wife Buys Your Mobile Homes | Bootstrapped Unicorns Podcast: Episode 13 with guest Adrian Smude

Welcome to episode 13 of the Bootstrapped Unicorns podcast! In this episode, host Josh Pies interviews Adrian Smude, owner of Lifestyle REI. Adrian, who can regularly be seen wearing an attention grabbing shirt that says "My Wife Buys Mobile Homes", which just happens to be the name of his other business, is a real estate investor, educator, and author. He also knows when to take advantage of a creative branding opportunity. Tune in - this is a guy you want to hear from!

BLOG:

The Real Estate Renaissance: How Adrian Smude Revolutionizes Mobile Home Investing

Introduction

If you're an aficionado of real estate innovation or a budding investor seeking lucrative opportunities, you're in for a treat. We had an enlightening conversation with Adrian Smude, an industry expert turning heads with his unique approach to mobile home investing. With a treasure trove of experience and a heart for helping underserved communities, Adrian has crafted a niche that's both profitable and purposeful.

The Mentor Who Changed It All

Adrian's journey is a testament to the power of mentorship. One of his biggest influences in property management is David Toney, who instilled a paradigm shift in how Adrian views his business. “We call them residents, not tenants. We are housing providers, not landlords,” Adrian shares, underscoring a perspective that puts people before property. For him, the asset is not the home but the resident who lives in it.

Branding by Clothing: A Thoughtful Strategy

One of Adrian's innovative approaches is his self-branding through clothing. Interestingly, Adrian uses a neon yellow shirt that says “My wife buys mobile homes,” becoming a living billboard. This unique strategy has piqued interest and opened numerous doors, especially in unconventional spaces like Gary Vee events, where host Josh Pies first met him.

Mobile Homes: A Recession-Resistant Opportunity

Adrian has ingeniously capitalized on the misunderstood and often overlooked mobile home market. With 30 properties and over 200 transactions under his belt, he's honed a strategy focused on long-term, predictable income rather than quick flips. “I don't like big chunks of money because then I have to go put it to work again,” he says. He breaks down the mobile home investment landscape into three main categories: 1. **Owning just the home**: Involves paying for lot rent, offering a high return on investment but with limited control. 2. **Owning the whole mobile home park**: High entry costs and stringent regulations make this option less appealing. 3. **Owning a single unit with the land**: Adrian's preferred approach, offering control, hidden opportunities, and recession-resistant income.

Financing the Dream

Financing mobile homes might seem daunting, but Adrian simplifies it. For homes older than 1976, banks are out of the question. Instead, he turns to private money and owner financing, avoiding the traditional bank route altogether. This method offers speed, flexibility, and a personal touch, knowing exactly where the money goes.

Resident Relationships and Property Management

Adrian's experience extends to property management, where he emphasizes clear expectations and long-term residency. His rules are simple yet effective: pay the rent, take care of the property, communicate well, and be a good neighbor. This approach not only retains residents but also ensures the properties are well-maintained, reducing overall costs.

The Role of Supportive Partnerships

A key element of Adrian's success is his supportive partnership with his wife, Erin. Growing up in a family that understood the value of rental properties, Erin has been nothing but supportive, even when Adrian made risky moves without her full knowledge. Their dynamic showcases the importance of spousal support in entrepreneurial ventures.

Mindset Matters

For Adrian, mindset is everything. He follows Hal Elrod’s "Miracle Morning" routine, which has become a cornerstone of his daily life and business success. Meditation, yoga, and continual self-improvement keep him balanced and focused. These principles underpin his approach to business, teaching, and life.

Conclusion

Adrian Smude's journey in the mobile home market is a blueprint for anyone looking to make impactful, profitable investments. He blends innovative strategies with evergreen principles, ensuring both financial success and personal fulfillment. If you're inspired by Adrian's story, his book "How to Buy Mobile Homes: The Unorthodox Guide to Capitalizing on a Hidden Niche in Real Estate Investing" is a must-read. To delve deeper into Adrian's world, visit his website and follow him on social media. Whether you're an aspiring investor or a seasoned pro, Adrian’s insights can propel you to new heights in the real estate realm.

To connect with Adrian:

https://www.lifestyle-rei.com/

https://mywifebuys.com/

Facebook: https://www.facebook.com/adrian.smude/

Instagram: https://www.instagram.com/mywifebuys

For more about our podcast, or to become a guest, visit: https://C47Films.com

The BU Entrepreneurship and Marketing Private (FREE) Facebook Group: https://www.facebook.com/groups/bootstrappedunicorns/

KEYWORDS:

Bootstrapped Unicorns, entrepreneur, entrepreneurship, Adrian Smude, Lifestyle REI, mobile homes, mindset, property management