In what has been described as a remarkable entrepreneurial feat, Nichole Briscoe, a 39-year-old African American mom and social worker from Burlington, North Carolina, has turned a side hustle into a lucrative business.
She has effectively doubled her monthly earnings from $3,000 to $7,000 by flipping mobile homes.
Initially drawn to real estate as a means of generating extra income for her family, Nichole encountered the high prices of traditional single-family homes.
This led her to discover a unique market niche in mobile homes – affordable prefab structures that serve as permanent residences, especially appealing to those unable to afford conventional houses.
Armed with a determination to enter the real estate market, Nichole invested in a $500 course on mobile home investments. With a $20,000 home improvement loan, she began rehabbing mobile homes in North Carolina, targeting units with acquisition costs under $10,000.
Following renovations ranging from $3,000 to $15,000, Nichole successfully sells these homes for nearly double or triple her initial investment.
Typically, the homes she flips boast 900 sq ft, featuring three bedrooms and two bathrooms. Surprisingly, Nichole doesn’t actively market these properties. Instead, she relies on word of mouth and social media platforms such as Facebook and Instagram.
Her strategy has proven successful, with a growing waiting list for her affordably priced homes, indicating a robust demand for economical housing solutions.
To make homeownership more accessible, Nichole offers a “rent-to-own” option. Buyers can make monthly payments ranging from $600 to $900 until they reach the sale price, providing flexibility over three to five years.
In addition to her flipping endeavors, Nichole engages in wholesaling – a strategy where she contracts with a seller at a lower price and finds a buyer willing to pay more without the need for renovations. This approach has earned her around $45,000 from wholesaling 13 mobile homes.
Nichole has taken her real estate ventures a step further by establishing an LLC named Eliam Properties. She shares her inspiring journey on Instagram under the handle “@MobileHome_Mami,” amassing a substantial following of over 93,000.
Despite her impressive success in the real estate realm, Nichole remains committed to her social work, expressing a desire to balance both aspects of her professional life. While she envisions the potential for a full-time transition into real estate in the future, she values her current role working with students.
“I do really love my job working with students. In the future, I definitely see potential in this becoming full time but not right now,” she affirmed.
For those interested in Nichole’s journey and insights, she can be followed on Instagram at @MobileHome_Mami.
