Mindful Money

080: Franco Perez - The Wealth & Information Gap & Striving To Do Better

Oct 25, 2023

Franco Perez, an entrepreneur and Founder of Franco Mobile Homes, discusses the wealth and information gap, the benefits of home ownership, and addressing the affordable housing crisis. He shares his experiences growing up in the Philippines and the United States, overcoming challenges during the Great Recession, the potential of mobile homes in wealth building, and using them as a stepping stone to achieve financial freedom. The importance of seeking advice from diverse sources and combating stigmas around mobile homes are also highlighted.

48:20

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Episode guests

Franco Perez

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Episode notes

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Quick takeaways

The importance of providing help and guidance to those who are not financially privileged.

The potential of mobile homes to serve as a solution to the affordable housing crisis and improve financial stability for middle-income families.

Deep dives

The need to provide services and advice to the average and working class

The speaker discusses the disparity in services and advice available to the rich and wealthy compared to the average and working class. They emphasize the importance of providing help and guidance to those who are not financially privileged.

Introduction

2min

Growing up in different environments

17min

Personal Experience during the Great Recession and the Importance of Mental Strength and Physical Fitness

2min

Fitness, Entrepreneurship, and Mobile Homes

7min

The Challenge and Stepping Stone of House Affordability

3min

Using Mobile Homes to Build Wealth and Achieve Financial Freedom

14min

The Importance of Seeking Advice from Diverse Sources

2min

Showcasing Mobile Homes to Fight Stigmas

2min

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Franco Perez is an entrepreneur and Founder of Franco Mobile Homes, who is working on a social challenge that exists within our capitalist system, while building wealth for his own family and his team and teaching others to do the same. Franco’s mission is to address the affordable housing crisis with well-designed mobile homes.

Today, Franco joins the show to delve into the psychology of not having enough, the shame of some living situations, the benefits of home ownership, and the idea of building a company to solve a problem.

📺 Watch on YouTube

https://youtu.be/YHt8Z9o4TZY

Key Takeaways

00:53 – Jonathan introduces today’s guest, Franco Perez, who joins the show to discuss growing up as an immigrant and the contrast in what he witnessed in the Philippines and in the United States

06:21 – Choosing happiness and overcoming immense pain and hardship

19:53 – The importance of exercise and the decision to become an entrepreneur

27:29 – Staggering statistics on house affordability

32:42 – Franco provides his thoughts on why mobile homes are the best solution

35:23 – Solving the stigma of mobile homes

43:27 – One thing we can do to increase financial success and one thing to completely ignore

45:48 – One thing that Franco would want people to know about him

46:28 – Jonathan thanks Franco for joining the show and lets listeners know where to connect with him

Tweetable Quotes

“There wasn’t just a wealth gap, there was an information gap. There’s a lot that I wish that I knew back then and a lot that we thought was normal when it comes to finances that actually weren’t. There’s different norms on the wealth side of things.” (04:17) (Franco)

“Going through that problem - even though it was the hardest and saddest time in my life - allowed for me to mature and grow psychologically and also be able to take on bigger and harder problems. It actually built my drive to want to do better.” (10:33) (Franco)

“When you’re in a very desperate situation, you learn to become resourceful and you learn to use the resources you have to try to create the most out of it.” (15:52) (Franco)

“The way this world is set up is that there’s so many services out there for the rich and wealthy and there’s not enough people helping and giving the right advice to those that are average or working class. And that’s exactly what I witnessed and it’s shocking to me. I didn’t care if I made money on it or not - it was more of a side gig for me - but I just wanted to find something that would help ease a family like that.” (22:40) (Franco)

“Knowing the pain was there and knowing that other families need this need allowed me to ignore the noise of people, even investors, saying, ‘Hey, this mobile home thing is crazy. You shouldn’t do this.’ But it was the need to have to fix this problem that I saw as so painful, in this system that is unfair, that I had to do it. When the ‘why’ is important enough, you just ignore the rest.” (26:58) (Franco)

Guest Resources

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