The Titan of Mobile Homes
Glenn Stromberg has become the authority in turning mobile homes into real wealth in the real world.
In nearly four decades working in the real estate market, Glenn Stromberg has realized that the misconceptions surrounding mobile homes has kept most investors and hedge funds out of that niche market. These misconceptions — and his decision not to believe them — have worked well for Stromberg.
According to Stromberg, his company operates using an “open secret — the most overlooked and undervalued class of real estate: mobile homes.” But it is Stromberg’s strategy and his ability to pivot in perilous times that propelled him to titan status.
Although he has completed thousands of mobile home deals, Stromberg’s passion is to share his knowledge to help others. His company, Stromberg Investment Group, has been providing passive investing opportunities since 2006, although his real estate career started decades earlier.
Stromberg began his real estate career in 1982, quickly becoming a top sales manager for a mobile home dealership. Over his 38 years in the mobile home industry, he has developed mobile home subdivisions, owned a mobile home park, owned and operated mobile home sales centers, and bought, sold, and leased single-family homes.
After college, he took a job in corporate America and realized his vision was to be an entrepreneur. It must have been fate when he answered a newspaper ad about selling mobile homes because in just two years selling at a dealership, he was promoted to sales manager. His entrepreneurial journey continued when he started a business with a friend, growing it to 13 locations in Texas then selling his portion. Stromberg has owned a mobile home park, developed a mobile home subdivision, and for 15 years had a Clayton franchise, which was one of Warren Buffet’s companies. Stromberg jokes he was partners with Warren Buffett even though he has never met him! After selling the Clayton franchise, Stromberg started buying manufactured homes, but this time they were on land.
Stromberg started with the fix-and-flip method and still does some of that, but in 2008 the recession forced him to change his model, and it turned out to be a business blessing.
“In our current business model, we keep some mobile home properties and turnkey others to investors. We don’t use banks; we use all private money,” Stromberg said. “Our investors love us because their returns are better than (sometimes double) what they can get with single-family homes.”
With more than a dozen employees in four states, Stromberg Investment Group continues to thrive.
“While millions may play in the real estate arena, very few actually understand it to the level Glenn does and few investors create opportunities that are a win-win for both parties. Since Stromberg Investment Group’s inception, Glenn has had a strong and well-articulated vision for this company, and I am honored to be the one to execute that vision. There is no titan in the industry more humble than Glenn, and he will continue to prosper for years to come,” said Melissa Hamaker, COO of Stromberg Investment Group.