Nichole Briscoe, a 39-year-old African American mother and social worker from Burlington, North Carolina, increased her monthly earnings from $3,000 to $7,000 by building a side business of flipping mobile homes.
Nichole, who lives with her husband and kids, first planned to invest in real estate to supplement their income. However, faced with the high cost of single-family homes, she recognized a market niche for mobile homes. These economical prefab constructions, which are frequently used as permanent residences, are in high demand, particularly among those who cannot afford regular homes.
Nichole was inspired to pursue a career in real estate and enrolled in a $500 mobile home investment school, which allowed her to enter the market. She received a $20,000 home renovation loan and rehabbed mobile homes in North Carolina for less than $10,000. After spending $3,000 to $15,000 on renovations, she sells these residences for approximately double or triple her investment.
Briscoe flips, which are approximately 900 square feet with three bedrooms and two bathrooms, draw purchasers even without active marketing. Word-of-mouth and social media, such as Facebook and Instagram, generate sufficient interest. She even has a waiting list for her houses, demonstrating a high demand for inexpensive living.
Making the properties even more accessible, she offers a “rent-to-own” option. Buyers pay $600 to $900 in monthly installments until they reach the transaction price, allowing for flexibility over three to five years.
In addition to flipping, Nichole engages in wholesaling, a practice in which she contracts with a seller at a cheaper price and finds a buyer prepared to pay more without incurring refurbishment expenditures. This strategy has netted her approximately $45,000 from wholesaling 13 mobile homes.
She has also formed an LLC named Eliam Properties and chronicles her experiences on Instagram as “The Mobile Home Mami” with her over 93,000 followers. Despite her success, Nichole intends to continue juggling her social work and real estate company, with the goal of transitioning to full-time status in the future.
“I do really love my job working with students,” she said. “In the future, I definitely see potential in this becoming full time but not right now.”