The Safe Play: Debt and Mobile Homes

Описание: What does a dry cleaning business have in common with mobile home parks and private debt funds? According to Ian Noble, everything. In this candid conversation, Ian shares his journey from running a family dry cleaning business in Austin to becoming a thoughtful and selective real estate investor. He talks about selling his company in 2023, the mindset shift it took to move into passive investing, and how he now vets operators not just on returns, but on character. Ian opens up about the psychology of trust-building with investors, why he values stability over flashy returns, and what makes mobile home parks an overlooked but compelling asset class. Whether you’re looking to raise capital, allocate capital, or simply understand what separates a good deal from a great partner, this episode is packed with timeless lessons.

Guest Bio

Ian Noble is a Texas-based investor and founder of RunSteady. After selling his family’s dry cleaning business in 2023, Ian transitioned into real estate full-time, focusing on mobile home parks and private lending. His investing philosophy centers around capital preservation, character-driven partnerships, and accessible passive income strategies.

Episode Highlights and Chapters

01:00 – Why capital preservation trumps high returns in Ian’s investment philosophy
02:00 – From dry cleaning to real estate: Ian’s journey into passive investing
04:20 – The challenge of trusting others with your capital
05:45 – How Ian vets character in potential partners
07:45 – Switching roles: From investor to capital raiser
09:00 – Why trust takes time and urgency kills relationships
10:10 – Referrals and long-term relationships as the core of Ian’s investor network
12:30 – Real estate is a full-time job: The appeal of passive investing
13:30 – Marketing and capital raising: Why last-minute outreach doesn’t work
15:30 – Ian’s two key focus areas: private lending funds and mobile home parks
17:30 – How Ian’s debt fund works and what makes it low risk
21:30 – Managing defaults and borrower relationships in a volatile market
23:50 – Why Ian emphasizes risk over upside in private lending
27:30 – Investor psychology: logic brings them in, emotion seals the deal
30:00 – Tips for analyzing underwriting assumptions and red flags
31:30 – What mobile home parks are (and what they’re not)
33:20 – Manufactured homes, zoning, and why foundations matter for taxes
36:00 – Touring a factory: the surprising quality of manufactured homes
38:00 – Why Ian chose mobile home parks over apartments
40:30 – Value creation by infilling lots in mobile home parks
42:00 – Why cities resist approving new parks and how that creates opportunity
43:30 – ADUs, zoning laws, and development trends in Seattle
45:00 – Gentrification, real estate change, and why Ian says “Play the game”

Contact Information

You can learn more about Ian Noble and his investment firm at https://runsteadycapital.comFree Passive Investing in Real Estate Cheat Sheet: https://go.runsteadyinvestments.com/l... Ian's Passive Investor Mailing List: runsteadyinvestments.com/investor-clubLinkedIn: www.linkedin.com/in/iannoble1/Instagram: @ian_invests 

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