Mobile Home Park Mastery

Latest Episodes:

In Volume We Trust Jun 14, 2021

Show notes

Joe Girard was the highest-selling car salesman in U.S. history, personally selling over 1,400 cars in 1973 alone. He had a simple rule to hit those kind of numbers: focus on volume of leads. And smart mobile home park buyers and owners share this same sentiment. In this Mobile Home Park Mastery podcast we’re going to discuss how Girard developed this attitude, and how we should all adopt it immediately to hit superior performance on buying parks and filling vacant lots.

What To Do With Last Minute Problems Jun 06, 2021

Show notes

Nobody likes last-minute changes: particularly not mobile home park buyers. In this Mobile Home Park Mastery podcast, we’re going to discuss how to work around sudden changes in deal terms that can happen during diligence, financing – or even closing. You have to be flexible in forging some deals, and this topic should be of interest to anyone who has faced making a sudden decision on a property.

The Limits of Creativity May 31, 2021

Show notes

Painting and sculpting requires creative thinking. But it doesn’t make any money. Indeed, creative deal making has limitations. In this Mobile Home Park Mastery podcast we’re going to review what you can and can’t accomplish with creative thinking when it comes to successful deals. While coming up with unique ideas can often salvage a property’s shortcomings, it’s not always the solution.

Turning Dealers Into Lot-Filling Machines May 23, 2021

Show notes

Mobile home retail dealers are typically all about selling new homes – mostly to people putting them out on their farm or ranch. But there’s another side to the retail story. In this Mobile Home Park Mastery podcast we’re going to discuss strategies to have dealers bring in and sell homes inside your mobile home park. It can be a win/win business model if handled properly. And with the average occupied lot being worth around $50,000 more than a vacant one, it’s a concept that is worthy of consideration.

When Filling Lots Is Not An Option May 16, 2021

Show notes

There’s a huge demand for affordable housing in the U.S. and one of the best ways to drive a mobile home park’s net income and value is through filling vacant lots. However, not all parks are created equal in this regard. In this episode we review the factors that can make a mobile home park incapable of filling lots in the correct manner, and this may well lead you to pass on that deal.

Mobile Homes On Residential Lots: The Myth Vs. The Reality May 08, 2021

Show notes

Just as cicadas come out of the earth around every five years, so does the concept that there is a solution to affordable housing in placing mobile homes on vacant single-family residential lots. In this Mobile Home Park Mastery podcast we’re going to expose why this has always been a doomed idea and the reasons that it keeps coming up in conversations on a cyclical basis.

Speculation Vs. Income Investment: A Primer May 02, 2021

Show notes

Mark Cuban recently said that “the intrinsic value of anything – Bitcoin, an ounce of gold, or a share of GameStop – is simply what people believe it is. Nothing else matters.” That has to be the worst investing theory of all time, and is the root of all speculative bubbles. In this Mobile Home Park Mastery podcast we’re going to discuss the concept of actually “investing” as opposed to “speculating” and why mobile home parks are not rooted in the whim of the public but in cold, hard cash. Charlie Munger would like this discussion (Warren Buffett’s business partner) as he has long been a skeptic of the new concept of herd investing.

Before You Pull The Trigger On Closing Apr 25, 2021

Show notes

The slang term for signing the documents and closing on a mobile home park is often called “pulling the trigger”. It’s a major commitment and one that can create angst with many buyers who are concerned if they are making the right decision. So what are the key factors that must be aligned to feel good about making this big step? In this Mobile Home Park Mastery podcast we’re going to review the various factors that must be in thumbs up position before you should sign those closing documents. Having a system to the way you close on a property will give you a greater chance of success and reduce your stress level.

The Issues With Being One Platted Tract Of Land Apr 18, 2021

Show notes

The definition of a mobile home park is “two or more mobile homes on one platted piece of property”. Of course, with just two people on one tract, that would not be too complicated, but the reality is typically 50 to 100 households or more, and that can create issues. In this Mobile Home Park Mastery podcast we’re going to review what the key problems can be and how to mitigate these issues. As you’ll see, there’s no shortage of needed discussions when you have many people happily co-existing in the absence of lot lines.

Why Managers Fail And How Can You Minimize That Mar 31, 2021

Show notes

Every mobile home park must have a manager, and not all of those work out. So what are the key reasons why mobile home park managers fail and what can be done to mitigate these issues? In this Mobile Home Park Mastery podcast we’re going to review our lessons learned from hundreds of managers and how to improve your odds of success. Since firing a manager is never fun and can be costly in time and money, it’s important to do your best in hiring and managing your “eyes and ears in the field”.

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