Welcome to Episode 81 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. This week, Jefferson interviews Rich Rice, the CEO of Adventure Homes. Rich discusses their custom building process, what’s different about their homes today vs. four years ago, and how a mobile home owner can work with Rich!
Key Takeaways:
[2:15] What did Rich do before he joined the mobile home manufacturing industry?
[5:15] In 2017, Adventure Homes should exceed $47 million in total sales with close to an 8% net profit.
[6:45] What’s different about the mobile home parks Rich and his team produce today vs. the first four years of Adventure’s existence?
[9:55] The important thing to remember is Adventure is a production facility, just like GM or Ford.
[12:05] When Rich is designing these mobile homes, does he use an interior designer of sorts?
[14:30] Rich talks about the quality of their mobile homes.
[18:05] How long does it take to get a mobile home approved through HUD?
[23:10] What kinds of trends has Rich noticed in the manufacturing home industry? What should people be prepared for in the next five years?
[26:10] Baby boomers are looking to downsize their houses and manufactured houses have been an excellent option for them.
[27:55] What happens if there’s a community owner that wants a mobile house but is not affiliated with one of Rich’s dealers (who he only works with)? How would they acquire houses from him?
[29:35] Does Rich work with people all over the U.S. or just in certain states? What is his shipping range?
[30:40] Does Rich provide financing options or does the owner need to come up with their own financing?
[33:10] Rich discusses the work that he did with the Paralympic Goalball USA team. He is very proud that his company could help them with their housing needs.
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
