Feb 23, 2024
In this episode of the AZREIA Show, host Marcus Maloney and co-host Mike Del Prete discuss the future of affordable factory-built homes with industry expert, Pat Timpani. They delve into the current housing crisis in Arizona and discuss the potential opportunities for real estate investors, builders, and landlords in the factory-built home sector.
Pat highlights the existing demand for affordable housing and shares valuable market insights based on his 38 years experience in the industry. He also talks about the significant shift towards telecommuting and how it's influencing housing requirements. The hosts also explore the process of setting up a factory-built home, from finding the land and applying for permits, to ordering and setting up the home.
Key Takeaways:
01:51 Guest Introduction: Pat Timpani and His Experience
02:56 Understanding Factory Built Homes and Their Market
04:28 Differentiating Between Mobile, Modular, and Manufactured Homes
08:34 Exploring the Financing and Profit Aspects of Factory Built Homes
09:49 The Process of Setting Up a Factory Built Home
15:00 Understanding the End Users of Factory Built Homes
17:42 Discussing Financing Options for End Users
18:28 The Timeline from Purchase to Move-In
19:25 Understanding the Permit Process
20:34 Ordering and Receiving Your Home
21:49 Lessons Learned from the Industry
22:48 Understanding the Permit Approval Process
23:12 Importance of Clear Property and Timely Permits
24:54 Benefits of New Homes
25:30 Impact of Regulations on Home Construction
26:12 Rising Cost of Insurance
26:29 Appeal of Affordable Housing
27:09 Process of Appraising a Property
29:42 Power of Niche Markets
31:08 The Impact of Population Growth on Housing
32:56 The Future of Telecommuting and Housing
34:28 Contact Information and Final Thoughts
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