

JF 4047: Mobile Home Parks, Self-Storage Skepticism and Hotel Investing ft. Amanda Cruise
Oct 3, 2025
Amanda Cruise, a savvy operator and investor in manufactured housing and mobile home parks, shares her journey from Capital One to real estate. She dives into the intricacies of Lonnie deals and offers practical insights on financing and marketing. The discussion also critiques self-storage's long-term viability, warns against common investor pitfalls, and compares mobile home parks to multifamily housing. Plus, Amanda highlights the unique challenges of boutique hotels, sharing expert perspectives on scalability and future opportunities in manufactured housing.
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Origin Story: From Duplexes To Lonnie Deals
- Amanda stumbled into manufactured housing after starting with single-family and Lonnie deals while on maternity leave.
- Her first Lonnie deal bought a mobile home cheap and sold it on owner-financing for strong returns and quick cashflow.
How To Source And Execute A Lonnie Deal
- Use simple direct outreach like bandit signs, driving parks, and talking to residents to find motivated sellers.
- Buy low and sell on terms (or flip quickly) to minimize capital and maximize returns on Lonnie deals.
When (If Ever) To Consider Self-Storage
- Avoid self-storage unless the deal has strong barriers like niche demand or underbuilt replacement cost.
- Consider opportunistic buys after downturns or specialized formats (temperature control, garage condos) if underwriting is clear.