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Byron and Sharnice Sellers: From Minimum Wage to Millionaires

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Mobile Home Elite Investors (MHE), owned by Chicago residents, Byron, and Sharnice Sellers, is a success story that began with a podcast and a leap of faith.

After Byron and Sharnice became unemployed in 2017, Byron began driving for the drive share company Lyft. While driving for Lyft, Byron came across a random podcast discussing investing in mobile homes with low money down and not-so-great credit. Byron was intrigued by the information, so he shared it with Sharnice.  

With the couple facing financial hardship, they agreed to take a leap of faith. They accepted a high-interest loan of $10,000 at a 24% interest rate and purchased two mobile homes for under $5,000. Within a month, they had flipped the homes for a profit of $19,500. "When I was employed by the Chicago Gas Company, my yearly salary was $39,000," Sharnice says. "Once I saw we could make half of my previous salary in a month, I knew we were on the right path."

Since the couple's initial investment, Byron and Sharnice have converted hundreds of mobile homes into profitable and affordable housing over the past few years. They're now earning 7 figures annually from investing in mobile homes. Sharnice says they were blown away by the costs of investing in mobile homes. "Not only did we see this opportunity as a great way to make profits. We also see it as a way to provide affordable housing." The Sellers currently own four mobile home communities between Illinois and Indiana with plans to expand.

Byron and Sharnice say investing in a mobile home can be as low as $500. "You'll find that mobile homeowners often give away older homes that require intensive work. The renovation cost can range from $10,000 to $15,000. And the investors are left with an asset that can generate passive income or be converted for a profit," the Chicago couple explained. "Mobile homes offer several advantages over traditional single-family homes. This includes affordability, energy efficiency, and lower maintenance costs. They can also be moved from one location to another, giving the homeowner flexibility."

Byron and Sharnice Sellers

In addition, Byron says investing in mobiles can be lucrative. "Mobile homes are the largest cash-on-cash return in the real estate industry." He states that it can take the couple up to 15 days to flip a mobile home after the purchase. They then sell or rent the mobile home at the affordable housing market value, and by the end of the tenant's term, they've either doubled or tripled their investment.

For those interested in learning more about investing in mobile homes, MHE has developed an online educational platform (Mobile Home Elite Investors Program) to educate potential investors on the industry. "The information we offer our new investors helps avoid costly mistakes and provides tools to be successful in the business," says Byron. MHE's Mobile Home Elite Investors Program offers free and paid live training. The training includes self-paced coursework, hands-on training, YouTube videos, Facebook videos, Instagram, and Tik Tok videos focusing on mobile home investing.

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