The Hidden Gem of Real Estate Investing That You Haven't Thought Of with Glenn Stromberg - Episode 557
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 5 December 2019
⏱️ 31 minutes
🧾️ Download transcript
Summary
On today's show, I'm joined by Glenn Stromberg, an expert in the manufactured housing industry! Glenn is here to share why manufactured housing is the best kept secret in real estate investing, and some of the benefits of investing in manufactured housing.
You'll learn about the tax benefits, including how depreciation and cost segregation work on this investment type. Glenn is sharing the details of what to look for in a manufactured investment, and what investing in manufactured housing is like. Don't miss episode 557 of Investing in Real Estate!
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Book a call with our team: https://go.oncehub.com/morrisinvest
Transcript
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| 0:00.0 | Welcome in to the investing in real estate show. I'm your host Clayton Morris, longtime real estate investor. If you're new to the show, this is the show where we help you build |
| 0:13.8 | financial intelligence so you can build financial freedom we have a lot of great |
| 0:18.7 | guests on the show as you know and today is no different we've got Glenn Stromberg on the show who is an expert in |
| 0:25.7 | manufactured housing and this is all he knows, he says. And I like to say that too. There's |
| 0:32.3 | certain areas of my expertise and that's all I know. |
| 0:34.8 | Get me to dabble in some other things and I'm going to look like a five year old. |
| 0:38.4 | And so that's how I want to be treated today. I want Glenn to treat me as a five-year-old as we dive into manufactured housing. |
| 0:45.4 | Now, are we going to flip it? Are we going to hold it? What are we going to do with this |
| 0:49.5 | manufactured housing? Are we talking mobile home parks? I don't know. I want Glenn to educate me. |
| 0:54.3 | Glenn welcome to the show. |
| 0:55.8 | Blayton, thanks so much for having me. It's a pleasure to be on your show. |
| 0:58.6 | Well you're out of Texas. Tell us a little bit about your company and give us your website, give us your |
| 1:04.3 | background and you've been in this for 33 years to tell us about your history here. |
| 1:08.4 | I actually hate to say this now but it's actually 37 years now. So I've been I've been in the |
| 1:13.2 | manufacturing housing industry in one way or the other for for 37 years and |
| 1:18.3 | basically I've been I've been in every aspect of it. I've own mobile home parks I've been in every aspect of it. I've owned mobile home parks, I've developed mobile home subdivision, |
| 1:27.0 | I've had retail dealerships. I had a Clayton franchise for 15 years, which is a company Warren Buffett bought, and so that tells you what he thinks of manufactured housing. |
| 1:38.0 | So it's been been a great business, great industry for me and my current company is Stromberg Investment Group, the website Stromberg Investment Group. And we currently buy, and I always like to I always like to make this this |
| 1:55.1 | distinction Clayton you know there's there's two types so when people think of |
| 1:58.1 | mobile homes I think the first thing that comes their mind is is an old metal-sided house with tires on the roof, okay? |
| 2:05.8 | And the properties we're buying, and also there's mobile home parks, where mobile home parks could be a tremendous investment. I've owned |
| 2:14.2 | mobile home parks in the past but that's not our current business model. What we do |
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