Meet Nichole Briscoe, a 39-year-old African American mom and social worker from Burlington, North Carolina who doubled her monthly earnings from $3,000 to $7,000 as she built her side hustle of flipping mobile homes.
Nichole, living with her husband and daughter, initially aimed to invest in real estate for extra family income, she toldΒ Business Insider. However, faced with the high prices of single-family homes, she discovered a niche in the market for mobile homes. These affordable prefab structures, often serving as permanent residences, have a demand, especially for those unable to afford traditional houses.
Inspired to delve into real estate, Nichole took a $500 course on mobile home investments, enabling her to enter this market. She secured a $20,000 home improvement loan, rehabbing mobile homes in North Carolina for under $10,000. After renovation costs ranging from $3,000 to $15,000, she sells these homes for nearly double or triple her investment.
Briscoe’s flips, typically 900 sq ft with three bedrooms and two bathrooms, attract buyers without active marketing. Word of mouth and social media, like Facebook and Instagram, generate enough interest. She even has a waiting list for her properties, indicating the strong demand for affordable housing.
Making the homes even more accessible, she offers a “rent-to-own” option. Buyers pay monthly installments of $600 to $900 until they meet the sale price, allowing flexibility over three to five years.
Beyond flipping, 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 renovation costs. This approach has earned her about $45,000 from wholesaling 13 mobile homes.
Moreover, she has established an LLC called Eliam Properties and shares her journey on Instagram as “The Mobile Home Mami” with her over 93,000 followers. Despite her success, Nichole plans to continue balancing her social work with her real estate business, seeing the potential for a full-time transition 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.”
