Andrew Cramer: Why Manufactured Housing Gets Left Out of Affordable Housing, and How Renters Can Build $55,000 in 5 Years

Rent an apartment for 5 years and you walk away with nothing. Buy a manufactured home instead and Andrew Cramer says you can end up with about $55,000. In this episode, the founder of Bridgeview Asset Management explains the math, and why manufactured housing keeps getting left out of the affordable housing conversation. Andrew Cramer founded Bridgeview Asset Management in 2011. Since then the firm has completed more than 25 mobile home park transactions, with at least $250 million in total asset value across the Pacific Northwest. Before that, he worked as a financial analyst at a real estate investment trust, co founded an urgent care center in Pennsylvania, and studied biochemistry at Cornell and UC Berkeley. Host Steven Weinstock asks the question most investors never say out loud: why is manufactured housing excluded from the affordable housing conversation? Andrew answers with real numbers and real stories, including the night before closing on his first park, when he drove through and found 5 homes had been moved out. WHAT YOU WILL LEARN- Why manufactured housing still carries a stigma, and how the HUD code that began in 1976 changed the safety standard- How $1,500 a month in rent compares with owning a manufactured home over 5 years- How Andrew bought his first mobile home park in 2011 with money borrowed at 12% interest, a 40 unit park in southeast Portland that he still owns- Why he improves the community before he raises rents: paved roads, playgrounds, community centers and locking mailboxes (5 of them cost under $10,000)- Why rent control shows up where ownership is unethical, and how long term rent contracts of 3% per year for 15 years can work for owners and residents- Extra income streams for park owners: utility metering, laundry, storage and vehicle parking- Where bulk internet fits in, including a commercial Starlink setup that costs about $2,500- What a beginner with little capital should do first, and what to avoid TOPICS COVEREDManufactured housing investing, mobile home park investing, affordable housing, HUD code, mobile home park stigma, rent vs buy, building wealth as a renter, rent control, Pacific Northwest real estate, Portland mobile home parks, bridge loans, value add real estate, community investment, utility submetering, bulk internet and cable for property owners, bonus depreciation. CONNECT WITH ANDREW CRAMERBridgeview Asset Management: https://www.bridgeviewassetmanagement.comLinkedIn: https://www.linkedin.com/in/andrew-cramer-43b5b513a OUR SPONSOR: CABLENOIOwn a small multifamily property? Find out how much bulk internet and cable revenue your building could earn. It costs nothing, with no tenant interaction and no wiring. All they need is your address and unit count. https://www.cablenoi.com THE WE CAPITAL MORTGAGE FUNDSteven Weinstock's WE Capital Mortgage Fund makes first lien bridge loans to real estate investors, typically at 65% loan to value or less. Open to accredited investors only. This is not an offer to sell or a solicitation to buy any security. Learn more at https://www.wecapitalx.com STEVEN'S BOOKSteven's book The Wealth Clock is $0.99 on Kindle. Send him a screenshot of your purchase and he will mail you a free paperback: https://a.co/d/0aX5nHMu ABOUT THE WEALTH CLOCKThe Wealth Clock with Steven Weinstock is where top operators, founders and closers share what really works. Steven is a real estate investor and the founder of WE Capital, with more than $17 million raised from private investors for multifamily acquisitions. FOLLOW THE SHOWYouTube: https://www.youtube.com/@thewealthclockpodcastInstagram: https://www.instagram.com/wecapitalxTikTok: https://www.tiktok.com/@the.wealth.clockLinkedIn: https://www.linkedin.com/in/stevenweinstock1Newsletter: https://www.wecapitalx.com/subscribe If this episode helped you, follow the show, leave a review, and share it with someone who still thinks a mobile home park means a trailer park.