Mobile Home Park Mastery

Latest Episodes:

The Top Five Tools of Mobile Home Park Owners Jul 15, 2018

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You can’t really get the tough jobs done without the right tools. In this first part of a five-part series, we’re going to investigate what the top five tools of mobile home park owners are. What they do and where they get them. And we’re starting out the series with the GQ edition – all about what you wear, what you drive, your company name and website. In a nutshell, your image. We all form that important first impression everywhere we go, and smart park owners know exactly how they want to appear to the outside world; from park residents to bankers.

The Easiest Turnaround Model Of All Jul 08, 2018

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What’s the easiest mobile home park turn-around strategy? Not turning one around at all. In this final installment in our five-part series on “Easy Turn-Arounds” we’re going to examine we’re going to talk about the simple model of “flipping” mobile home parks – essentially buying them at a low price and re-selling them immediately thereafter or tying them up under contract and selling an assignment of the contract. Learn the theory and reality of profiting from mobile home parks without even picking up a piece of litter.

Easy Turnarounds That Are Just Improperly Priced Jul 01, 2018

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Can you buy a dollar for 50 cents? In some mobile home parks the answer is “yes”. Poor pricing practices by mom & pop owners are legendary. In this fourth episode in our five-part series on Easy Turn-Arounds, we’re going to give real-life examples of parks that were priced way too low, as well as how to find them and negotiate them. We’re also going to review another component to these deals, and that’s often insanely great seller financing terms. So if you want to hear how to avoid heavy lifting altogether, then tune into this week’s installment.

Taking Control Of Water & Sewer Expense Jun 24, 2018

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Water is a precious commodity in America today – it’s literally liquid gold. And water and sewer expense is the #1 largest line item in most mobile home park profit & loss statements. The great part is that it’s a turn-around plan that is 100% within your control and has no reliance on residents or market forces. But how do you do it? In this installment of our five-part series on “Easy Turn-Arounds” we’re going to analyze the methodology from A to Z on saving huge amounts on water & sewer costs and fostering conservation along the way.

More Easy Turnarounds Jun 17, 2018

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Firing people is never fun – but it can certainly be profitable! In this second of a five-“part series on Easy Mobile Home Park Turnarounds”, we’re going to examine the role of cost-cutting in turning around mobile home parks, with a specific focus on personnel and utility issues. You’re also going to hear the story of a park we own in Illinois that went from losing around $40,000 per year to a positive $270,000 in one year, mostly as a result of cost cutting. Benjamin Franklin once said “a penny saved is a penny earned” and must have been talking about trailer parks.

Easy Turnarounds Jun 10, 2018

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We’ve talked about tough turn-arounds, so now it’s time to turn our attention to a different type of mobile home park experience: the simple ones. Just as there are factors that make a mobile home park tough to convert into an economic engine that produces predictable, sustainable cash flows, there are basically five different turn-around methods that require minimum effort to create significant profit. In this first of a five-part series, we’re going to discuss a simple method to enhance the cash-flow and value of a mobile home park. Why it works and how to do it effectively. With just this one podcast, you’ll see why we got hooked on mobile home park investing, and it will forever change your thoughts on “trailer parks” as an economic engine.

The Toughest Turnaround Of All Jun 03, 2018

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In this final installment of our series on Tough Turnarounds we’re going to examine the story of a mobile home park that required not only a complete renovation of all common areas, but also the renovation and sale of over 200 park-owned homes. It’s tough enough bringing a mobile home park back to life, let alone all of the homes inside of it. But we learned some important lessons from this unusually difficult project and successfully finished within 36 months. Hear how we did it in this week’s Mobile Home Park Mastery Podcast.

“This Must Be A Hollywood Set” May 27, 2018

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In this fourth installment of our five-part series on Tough Turnarounds, we’re going to examine a property in Illinois that looked like Berlin after the war – just a giant pile of rubble with a mobile home park underneath. But beneath that rough Hollywood set of destruction was a fairly nice asset that had, at one time, been a luxury community. Learn how we bought this mobile home park back to life despite drug dealers, trash, dead trees, burned homes, and a general lack of pride that was determined to drag it down.

A Tough Turnaround With A Chase Scene May 20, 2018

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In this third installment in our five-part series on “Tough Turnarounds”, we’re going to discuss Hidden Hollow – a mobile home park that didn’t even have a rent roll or a financial statement. This turnaround came with the added twist of Frank being chased down the street by a 300 pound man in a diaper. Learn the techniques that can allow you to take a piece of land with some old, rusted flat-roof trailers and no law and order (or dress code apparently) and make it into a tame, income-producing asset.

A Tough Turnaround In Oklahoma City May 13, 2018

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People living in school busses is charming on the Partridge Family, but not so much in real life, In this second in our five-part series on Tough Turnarounds, we’re going to review a park that had a half-century of decline and the battle to bring it back to life. You’ll learn what makes a mobile home park worthy of such an effort, and the exact steps that were taken to make this park a nice place to live again.

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