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Speaker 1: across the country. Learn more at VP dot com. Slash

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Speaker 1: investing in America.

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Speaker 2: If I have the title and Sharnie says, hey, I

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Speaker 2: can help you, I'll sell you. I mean I'll buy

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Speaker 2: a home from you, right cool, And she's the highest bidder.

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Speaker 2: Now she can go buy the home. She's a title owner,

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Speaker 2: and she can go to RASHAA like, yo, I'm the

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Speaker 2: title owner. So unless you're gonna give me thirty K

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Speaker 2: for this house, I'm moving in. And Sean can be like,

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Speaker 2: either I will pay you that or no? All right cool.

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Speaker 2: Now she's taking that home Detroit. She own asset.

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Speaker 3: My graduates from my school being forced.

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Speaker 2: Bad and drop bag drop Mike, drop back drop drop.

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Speaker 4: All right, guys, Welcome back, e y L. This is

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Speaker 4: a reunion episode.

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Speaker 5: Yeah, so.

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Speaker 6: Sharnese and Byron.

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Speaker 4: This is an interesting situation because the first episode actually

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Speaker 4: happened like we didn't plan it. So I'll give you

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Speaker 4: the backstory. About two and a half years ago, we

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Speaker 4: did a networking event in Chicago and I think at

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Speaker 4: the Bureau Bar Ye shot shot. So that was our

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Speaker 4: first time. That was my first time ever in Chicago,

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Speaker 4: our first time in Chicago as Ealsia, and it was

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Speaker 4: a vibe the fact everybody came out show love and

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Speaker 4: Byron actually had walked up to me, introduced himself and

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Speaker 4: was telling me like what he does, and you know,

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Speaker 4: it happens all the time, people doing all the time.

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Speaker 4: We made it interesting is that it's something that I

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Speaker 4: never really heard of with mobile home investing, and I

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Speaker 4: never heard up until that point. I was calling it

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Speaker 4: trailer so mobile home investing things. I'm like, all right,

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Speaker 4: this is interesting. So we had some time and I'm like, yo,

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Speaker 4: we should do this episode. I think I told Mike, like, Yo,

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Speaker 4: I met these people they do mobile homes. That's like interesting, we.

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Speaker 6: Should do this.

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Speaker 4: They're like when you want to do it, like tomorrow,

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Speaker 4: Like all right, well, sure, let's do it.

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Speaker 5: So I think we spoke after that too. Yeah, they

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Speaker 5: said we're gonna do what, we're gonna do it.

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Speaker 4: So we actually did it and we didn't have like

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Speaker 4: a studio, so we did it in their home.

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Speaker 5: Mourn actually actually what we want to do, the Downing brothers,

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Speaker 5: and we saw them like, yo, we we're gonna do this.

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Speaker 5: We're gonna do it here to the house, all right,

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Speaker 5: we don't know what like that.

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Speaker 4: Yeah, yeah, so we went to the South Side. We

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Speaker 4: got it done, and it actually turned out for a

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Speaker 4: long time, it was the number one episode on YouTube

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Speaker 4: definitely for a while. I'm still in the top ten.

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Speaker 4: So it's one of these episodes that just caught wildfire

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Speaker 4: number forty one for those not it's not playing, stop playing,

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Speaker 4: right So but since then, you know, a lot has changed.

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Speaker 4: So since then they got engaged.

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Speaker 5: Congratulations on that.

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Speaker 6: Number one.

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Speaker 4: They moved on up from the south from the south

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Speaker 4: Side to downtown. There's got a whole vibe downtown, driving

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Speaker 4: range rovers, living, clipping the dream. But what also happened

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Speaker 4: during that period of time, and this is the interesting part.

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Speaker 4: So at the end of the episode, so when we

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Speaker 4: first met them, they was investing in mobile homes, like

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Speaker 4: individual mobile homes at the end of the ES so

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Speaker 4: they said like their goal was just transitioning into buy

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Speaker 4: a mobile home park, and now that's actually in reality

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Speaker 4: and they actually own two mobile home parks right in fact,

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Speaker 4: with two more mobile home parks under contract, with a

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Speaker 4: total of one hundred and seventy three mobile homes. So

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Speaker 4: I thought it would be a perfect time to have

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Speaker 4: a follow up conversation with your plans on scaling for

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Speaker 4: your personal business brand.

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Speaker 2: And so we definitely want mobile home parks. So the

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Speaker 2: larger goal with that is to get an acquisition where

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Speaker 2: we find somebody who has a portfolio ten twenty mobile

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Speaker 2: home parks just looking kind of just to retire, right,

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Speaker 2: and then pretty much purchased that portfolio and just build

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Speaker 2: from there and really open up the floodgates for more

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Speaker 2: people to invest in mobile homes.

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Speaker 4: And throughout that, you know, they have education, they've been

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Speaker 4: teaching people on social media.

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Speaker 6: So this is a dope before you go in, right.

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Speaker 5: I remember like after that episode, yeah, I did like

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Speaker 5: a free webinar and I was like, i'mna sign up

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Speaker 5: for this, and I forgot that day and then I

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Speaker 5: couldn't sign up for a free for the next.

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Speaker 2: Three months of packed us out.

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Speaker 6: It was crazy.

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Speaker 2: Nothing was to say, nothing was to say that's the album.

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Speaker 6: Nothing was the same.

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Speaker 7: That was the original fact one. It was damn Alex

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Speaker 7: trapped that a lot of people those two months. So, yes,

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Speaker 7: this episode, I'm looking forward to it because it's the

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Speaker 7: transition and now we're going to have the conversation of

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Speaker 7: Mobile Home Park Invested.

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Speaker 6: So first and foremost, welcome.

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Speaker 2: Back, man, Thank you all for having us.

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Speaker 5: Yeah, I'm like, you know what the bath.

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Speaker 2: We're in the Mecca right now, see.

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Speaker 5: Each other so many times.

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Speaker 4: Yeah, yeah, this this is the where it all started

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Speaker 4: for us.

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Speaker 6: Up now we so all right, so let's get into

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Speaker 6: this conversation.

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Speaker 4: So how you said you was going to do it,

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Speaker 4: but how did you actually get into Mobile Home Park Investing?

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Speaker 6: Yeah?

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Speaker 2: Man, so it was dope to declare, you know, on

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Speaker 2: the episode, but you know, after that, it was a

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Speaker 2: huge influx, right, We had a lot of people hitting

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Speaker 2: us up and actually our partner had reached out to

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Speaker 2: us like, yo, you know I saw the episode. You know,

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Speaker 2: you guys knew what you were talking about. I have

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Speaker 2: some communities in Indiana if you want some houses, you know,

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Speaker 2: come out and take a look. One took a look.

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Speaker 2: The deal didn't really work. He's gonna get me nineteen

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Speaker 2: free houses. I couldn't find anybody to do the work

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Speaker 2: out there, so I'm like, yo, man, but I'm interested

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Speaker 2: in getting the space.

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Speaker 8: Man.

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Speaker 2: So you come across a deal like, man, we you know,

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Speaker 2: we game because I was looking, but I kind of

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Speaker 2: needed that guidance as well. And so sure enough that

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Speaker 2: email came across, like y'all got this fifty one unit.

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Speaker 2: You know, I'm looking for a few partners fifty thousand buying,

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Speaker 2: Like say, let's like, let's go ahead and get in

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Speaker 2: and jump right onto this. And man, shout out our

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Speaker 2: partner Charlie. Man end up quarterbacking that deal, and we

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Speaker 2: got a first hand to see how everything was done

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Speaker 2: so we can learn the process. But again, shout out

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Speaker 2: to y'all, you know, for being a connect on that

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Speaker 2: because you know, he saw us, you know, from ey

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Speaker 2: L and trusted us, and man, that's how we end

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Speaker 2: up making that first one happen.

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Speaker 5: So you got fifty thousand dollars for fifty one homes.

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Speaker 2: So he originally initially raised three fifty The park. We

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Speaker 2: got that that part sorry, the purchase price for one

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Speaker 2: point one so we had to raise thirty percent of

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Speaker 2: that put up the three hundred and fifty k. So

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Speaker 2: we was parked, you know, partially investors on that and yeah, man,

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Speaker 2: we ended up locking it down. We went that's the

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Speaker 2: video we actually have on YouTube. We went to go

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Speaker 2: see the park and man, it was it was just

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Speaker 2: it was special saying that. You know what we really said,

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Speaker 2: you know what was gonna happen is that?

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Speaker 5: So that's that's the video when you're walking through and

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Speaker 5: people don't know.

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Speaker 6: Like y'all do.

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Speaker 5: Yeah, yeah, crazy, yeah, yeah gotcha?

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Speaker 6: Yeah So what all right?

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Speaker 4: So walk me through that process and fine, mobile home Like,

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Speaker 4: how much did it cost?

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Speaker 6: Again? Mobile park?

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Speaker 2: So that's mobile home park was one point one million?

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Speaker 6: So how'd you get the financing?

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Speaker 2: So we used a small community bank. So that park

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Speaker 2: is actually in Greensburg, PA. And that's one thing if

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Speaker 2: you look at for mobile home parks, you either want

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Speaker 2: to go to a credit union or a credit union

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Speaker 2: or a small local bank because they're more they're more

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Speaker 2: willing to finance a smaller deal, right, and also there's

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Speaker 2: more lenders that come out now so we end up

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Speaker 2: locking up the finance and again thirty percent down. A

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Speaker 2: few of us put up, you know, fifty k apiece

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Speaker 2: and that's how we end up locking that one down.

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Speaker 5: So the Indiana deal didn't work because you didn't have

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Speaker 5: anybody to I guess refurbish the properties, correct, yea. So

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Speaker 5: like when y'all got this one, it was like, all right,

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Speaker 5: number one, was there a lot of work that had

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Speaker 5: to be done? And if so, like did you have

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Speaker 5: a team on the ground or do the partner's going

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Speaker 5: to get how that work?

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Speaker 6: Yeah?

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Speaker 2: So the beautiful thing about buying a mobile home park

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Speaker 2: were always looking for It's like buying a business. So

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Speaker 2: it had intricate pieces, it had already a team of

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Speaker 2: repair and on site. They had a park managing in place,

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Speaker 2: so they had equipment. So for us going in, we

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Speaker 2: just add value. So the biggest thing we had to

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Speaker 2: do is feel the empty homes, right, feel or feel

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Speaker 2: the empty pads which are empty lots with no homes

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Speaker 2: on it. So that was part of part of when

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Speaker 2: we got the actual financing forward. We wanted to go

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Speaker 2: ahead and have enough cash so that way we can

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Speaker 2: put new homes on there as well.

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Speaker 5: So that the property actually has space for you to

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Speaker 5: add to it.

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Speaker 6: Yeah.

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Speaker 5: Perfect. Now you said that there's a couple of roles

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Speaker 5: that you need to have in the park. Can we

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Speaker 5: run down again, So like a property manager, I assume

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Speaker 5: what other roles that we need to have With buying

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Speaker 5: an entire park, for.

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Speaker 8: Sure, I would say with buying a park, you definitely

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Speaker 8: so you definitely want to have your park managing place.

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Speaker 8: But to take a step back, before going through the

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Speaker 8: process of actually purchasing a mobile home park, you definitely

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Speaker 8: want to have a great CPA. You want to have

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Speaker 8: a great attorney who understands commercial real estate but really

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Speaker 8: excusing an attorney who has done mobile home parks and

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Speaker 8: who have has worked with investors who have purchased land.

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Speaker 8: So you want to have that. And then you want

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Speaker 8: to have a great wholesaler who can do the proper

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Speaker 8: due diligence. So before let's just say, if I'm looking online, right,

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Speaker 8: so I'm gonna drop a few sources with people who

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Speaker 8: want to just source where they can find mobile home

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Speaker 8: parks available. One website is mobile home parkstore dot com.

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Speaker 8: It's a great website where you can go and just

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Speaker 8: source any type of parks that's available. So nine times

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Speaker 8: out of ten, who's listing the parks on there is

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Speaker 8: the brokers. So the beautiful thing about brokers is that

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Speaker 8: once you build that relationship and you communicate with them,

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Speaker 8: they'll have access to what we call pocket listing. So

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Speaker 8: pocket listings, we know it's off market deals, so they'll

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Speaker 8: have even some off market deals or parks that may

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Speaker 8: not even be listed online. So that's another way just

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Speaker 8: kind of source some deal, sayce again not listed. So

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Speaker 8: once you say once you see, excuse me, a park

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Speaker 8: that you're interested in, the first step is due diligence.

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Speaker 8: You want to get in contact with the municipality, so

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Speaker 8: the county records department make sure that the land is

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Speaker 8: zoned for mobile homes, so you want to make sure

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Speaker 8: that is properly zoned.

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Speaker 9: You want to make sure that there's no cold violations.

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Speaker 9: Same thing.

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Speaker 8: You want to contact your county health department to come

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Speaker 8: out and assess the water. You want to make sure

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Speaker 8: that the water has no cold violations as well. So

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Speaker 8: that's just kind of like the back end of the

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Speaker 8: due diligence that's needed before you even looking to purchase

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Speaker 8: in a mobile home community.

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Speaker 5: All the things we're not thinking.

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Speaker 9: Of, right, right, right?

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Speaker 6: So then did you sell that?

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Speaker 2: Yes, so we end up selling that park. We got

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Speaker 2: it in July of twenty twenty, We ended up selling

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Speaker 2: that one. In November of twenty twenty one, we end

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Speaker 2: up selling it. So we end up selling it for

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Speaker 2: two point three million.

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Speaker 4: So you purchased it for one one million, you sold

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Speaker 4: it foot two point three yep, so you you made

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Speaker 4: a one point three dollar profit.

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Speaker 6: Yes, So how did that happen? Why did it appreciate

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Speaker 6: so much?

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Speaker 2: So after the pandemic. What happened was the mobile home

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Speaker 2: park space was one of the best asset classes in

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Speaker 2: real estate is far collecting full rent roll because it's

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Speaker 2: affordable housing. So people were still paying their you know,

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Speaker 2: paying their rent and so it made it very attractive,

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Speaker 2: very attractive. So now you saw larger players, the Blackstones,

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Speaker 2: the Northwestern Mutuals, these large institutions I started to come

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Speaker 2: into the play like whoa hold on? Like these cash

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Speaker 2: flowing these some decent assets. So now larger players. So

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Speaker 2: now you have you know, investors like us and you

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Speaker 2: know other investors like uh, oh, hold on, I think

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Speaker 2: we could put up we could put it on top

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Speaker 2: dollar now because even still to this day right now,

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Speaker 2: like mobile home parks, it just the prices went up,

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Speaker 2: you know, fifty one hundred percent just because of the

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Speaker 2: cash flow, and so you know, just with that, it

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Speaker 2: was just a hot time to sell, and we ended

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Speaker 2: up putting on the market and we actually had some

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Speaker 2: issues kind of getting houses filled, you know, with the

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Speaker 2: whole you know, the rent momatorium and things like that.

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Speaker 2: We have few tenants not paying and things, but we

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Speaker 2: were still you talking about able to double our profit.

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Speaker 5: That's crazy.

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Speaker 6: Is there Section eight tennis? Then?

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Speaker 2: So not in our particular park. So there's very rare

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Speaker 2: that you're gonna find Section eight tennis. And the reason

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Speaker 2: why is because more so there Section eight is more

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Speaker 2: geared to for apartments. All right, so when it comes

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Speaker 2: to mobile homes, you have some very some but we

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Speaker 2: really the only affordable housing sector that you don't necessarily

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Speaker 2: need Section eight that you can afford. So we don't

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Speaker 2: really get too much help from the government and things

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Speaker 2: like that. Now I knew Ben Carson was actually talking

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Speaker 2: about when the administration was in he wanted to put

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Speaker 2: manufactured homes to allow that, you know, because people can

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Speaker 2: pay off the homes and then the government will pretty

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Speaker 2: much save money. But that didn't get passed, so we're

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Speaker 2: still hoping that this administration looking to it.

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Speaker 5: So when y'all bought the mobile homes, we talked about

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Speaker 5: insurance obviously because it was not really like a house, right, right,

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Speaker 5: A do the same rules apply when we're talking about

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Speaker 5: a park? Are we like, how do we ensure that?

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Speaker 5: What's like, what's the taxes on?

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Speaker 6: As?

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Speaker 5: Is it the similar situation if we're buying individual mobile homes?

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Speaker 2: No, So the taxes. What I love about the taxes

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Speaker 2: especially depends that most parks are in rural America, right,

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Speaker 2: So the taxes are cheap. I think on our particular park,

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Speaker 2: our taxes less than seventy thousand dollars right on that

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Speaker 2: asset for the year. And so the people pay personal

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Speaker 2: property taxes, so if whoever owns, they don't necessarily have

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Speaker 2: to pay the land tax. We pay the land tax.

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Speaker 2: But again you're talking about less than seven thousand dollars

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Speaker 2: for over five acres, right, So, so again it's a

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Speaker 2: it's a definitely a great way to save taxes. And

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Speaker 2: then you talk about insurance. Normally for us we also

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Speaker 2: we do pay insurance, right but for each individual home.

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Speaker 2: We make sure our tenants have insurance on you know,

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Speaker 2: that their mobile home is covered as well.

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Speaker 6: So as a mobile home park owner, do you own

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Speaker 6: every home?

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Speaker 2: So for us, the goal is not to right, you

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Speaker 2: have some mobile home park owners that do. But the

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Speaker 2: reason for us we want to have our tenants to

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Speaker 2: own their homes because what it helps us to do

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Speaker 2: we just own the land. We're leasing the dirt.

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Speaker 4: So okay, that's interesting. So the one point one was

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Speaker 4: just for land.

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Speaker 2: With homes included. Yeah, so you did own the home,

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Speaker 2: so we did, and then what we know. So what

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Speaker 2: we do from there is that's when we go in

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Speaker 2: and we pretty much create seller finance and so we

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Speaker 2: can come and say, hey, listen, you know what we see.

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Speaker 2: You've been renting from us. Let us let us help

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Speaker 2: you own your own asset now. Right, So now we

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Speaker 2: can help them, you know again, they'll have it, can

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Speaker 2: put them on a monthly term. They own their home,

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Speaker 2: they have their title and so now again they just

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Speaker 2: paid for the lot rent, which is what they paid

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Speaker 2: for like the amenities of the park. And the reason

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Speaker 2: why we do that is, for one, the responsibility because

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Speaker 2: the more homes we own, if anything, goes wrong, then

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Speaker 2: my maintenance men have to go to each individual house

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Speaker 2: to fix. But as a homeowner, they gonna take more

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Speaker 2: pride into their house. They're more likely not to tear

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Speaker 2: it up less. And then the beautiful thing about it

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Speaker 2: when it's when we want to sell. Now they're able

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Speaker 2: to get bank financing because a bank is more inclined

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Speaker 2: to loan to more tenant own homes than versus park

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Speaker 2: owned homes because it's basically a less risk.

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Speaker 4: So how many homes was on that fifty You owned

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Speaker 4: all fifty one homes at the beginning.

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Speaker 2: Of it, no Ah Man, So I think the one

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Speaker 2: I don't know how to accurate number, but I think

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Speaker 2: it was less than fifteen homes. I know that was

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Speaker 2: actually yeah, we.

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Speaker 4: Want and then you sold them back to the owner

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Speaker 4: to people that was ranm yep. And when you so

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Speaker 4: when you sold it, they didn't get any homes with

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Speaker 4: the person that brought it for.

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Speaker 5: You do it all without breaking the sweat, like being

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00:16:27,760 --> 00:16:31,080
Speaker 5: a boss. Exec to Tuesday tennis, to homework and why

353
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Speaker 5: did they give the kids so much homework? Family dinners, lunches, brunches,

354
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Speaker 5: trips to the vet, and a weekend getaway that's anything

355
00:16:37,840 --> 00:16:40,320
Speaker 5: but a getaway, and you do it all in style,

356
00:16:41,080 --> 00:16:43,280
Speaker 5: even when you have back to back conference calls on

357
00:16:43,320 --> 00:16:45,760
Speaker 5: top of the kids, AAU games, and not to mention

358
00:16:45,840 --> 00:16:48,640
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367
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00:17:23,320 --> 00:17:26,400
Speaker 2: You technically do so. When you buy a mobile home community,

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00:17:26,480 --> 00:17:30,960
Speaker 2: right like, the guarantee is, hey, I'm binding with these homes.

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Speaker 2: That's gonna pay us this land fee nine times out

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Speaker 2: ten with the community, the good people not trying to

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Speaker 2: move their mobile home out of there. You don't want

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Speaker 2: I don't want to. I don't like saying, because they

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Speaker 2: can't afford to move their home out of there. Because

375
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Speaker 2: sometimes that is the case. But if the community is good,

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Speaker 2: they want to stay there. So you technically, for example,

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Speaker 2: you're looking it will say like a seventy one pack community, right,

378
00:17:52,960 --> 00:17:55,680
Speaker 2: even though the homes may be still tending ONWN. It's

379
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Speaker 2: just you know that those is that is the lot

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Speaker 2: rent that's coming in.

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Speaker 5: So that was the deal. That was one deal, but

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Speaker 5: it is the team situation going on. So while you're

383
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Speaker 5: closing that deal, I know you had a couple more

384
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Speaker 5: parks in twenty twenty, right, so like what was that process,

385
00:18:07,880 --> 00:18:10,320
Speaker 5: like the search process? How are we getting financing to

386
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Speaker 5: get all these? Right? Because I think it was how

387
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Speaker 5: many we got in twenty twenty.

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Speaker 2: Four it was fo Yeah.

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Speaker 8: So the cool thing is that our one partner, he Quarterback,

390
00:18:18,560 --> 00:18:20,879
Speaker 8: that those deal as well. So the first park that

391
00:18:20,960 --> 00:18:23,359
Speaker 8: barn has been talking about that was one park. And

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Speaker 8: then he hit us back up a few months later

393
00:18:25,880 --> 00:18:27,480
Speaker 8: and was like, hey, I have a three park deal.

394
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Speaker 8: You know, same situation. He's going to quarterback. He has

395
00:18:30,560 --> 00:18:33,240
Speaker 8: a team involved as well. He hit us like, hey,

396
00:18:33,280 --> 00:18:35,760
Speaker 8: you know same buy in fifty k he hit us,

397
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Speaker 8: So we had the money.

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Speaker 9: That's just kind of how that happened.

399
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Speaker 2: And then you sold one of those though, right, yeah,

400
00:18:42,640 --> 00:18:47,399
Speaker 2: so that I love that deal. So that deal. So

401
00:18:47,560 --> 00:18:49,640
Speaker 2: those three parks we got for one point eight, all

402
00:18:49,640 --> 00:18:53,520
Speaker 2: three of them, all three for one point eight Greensburg, PA.

403
00:18:54,320 --> 00:18:57,880
Speaker 2: So right around the Pittsburgh area, all three. So one

404
00:18:57,920 --> 00:19:00,719
Speaker 2: of the parks we just actually sold again after we

405
00:19:00,800 --> 00:19:07,240
Speaker 2: sold via Vista View. We sold it for three point five,

406
00:19:08,040 --> 00:19:10,520
Speaker 2: so that one park paid for all. So now we

407
00:19:10,600 --> 00:19:13,520
Speaker 2: just own two other parks free clear and it's just

408
00:19:13,680 --> 00:19:15,160
Speaker 2: we just building up equity on those.

409
00:19:16,800 --> 00:19:18,560
Speaker 5: How many units in ease runs? We said, visit you,

410
00:19:18,600 --> 00:19:22,680
Speaker 5: I'm thinking of white man can't jump, So Sydney Dean

411
00:19:22,720 --> 00:19:25,600
Speaker 5: lived for those none now, but how many? How many?

412
00:19:26,160 --> 00:19:28,480
Speaker 5: How many lots in this and the other two? Was

413
00:19:28,480 --> 00:19:31,440
Speaker 5: it like fifty another fifty or seventy forty eight?

414
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Speaker 9: And then what was the other?

415
00:19:33,560 --> 00:19:39,320
Speaker 2: It was forty eight, and say it was fifty and

416
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Speaker 2: fifty because we had one seventy two left calculated with

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Speaker 2: my phone over there.

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Speaker 5: Since they, I mean you invested in a similar area,

419
00:19:45,160 --> 00:19:47,320
Speaker 5: does that obviously make it easier for you now to

420
00:19:47,359 --> 00:19:49,679
Speaker 5: just check on everything. Some people might hear an episode,

421
00:19:49,680 --> 00:19:51,399
Speaker 5: they probably hurt your episode, Like, yo, there's something that

422
00:19:51,440 --> 00:19:53,760
Speaker 5: happened in Virginia. There's mobile hole parks in Virginia and

423
00:19:54,240 --> 00:19:56,760
Speaker 5: I live in Chicago, right, I mean I don't know

424
00:19:56,800 --> 00:19:58,520
Speaker 5: if that may be the best investment, right because I

425
00:19:58,520 --> 00:20:00,240
Speaker 5: mean I gotta get to this place just it is

426
00:20:00,240 --> 00:20:00,719
Speaker 5: an issue.

427
00:20:00,800 --> 00:20:04,320
Speaker 2: Yeah. So the cool thing our partner Charlie actually moved

428
00:20:04,320 --> 00:20:06,960
Speaker 2: out too. He was in the back and he moved

429
00:20:07,000 --> 00:20:09,280
Speaker 2: out to Pittsburgh. Like, Yo, you know what, I could

430
00:20:09,280 --> 00:20:11,359
Speaker 2: be closer, I could be hands on. So that's the

431
00:20:11,400 --> 00:20:13,720
Speaker 2: cool thing about it. And like to your point, the

432
00:20:13,760 --> 00:20:15,640
Speaker 2: best thing is to we tell people starting that should

433
00:20:15,640 --> 00:20:17,520
Speaker 2: be become a passive investor. That's what we did. We

434
00:20:17,560 --> 00:20:20,000
Speaker 2: became a passive investors because the owner operator you do

435
00:20:20,040 --> 00:20:23,280
Speaker 2: have more responsibility, you are more hands on, and if

436
00:20:23,280 --> 00:20:24,760
Speaker 2: you don't have the experience. We see a lot of

437
00:20:24,800 --> 00:20:26,520
Speaker 2: owner ops kind of coming to this business and fail

438
00:20:26,840 --> 00:20:28,439
Speaker 2: because it's like, oh, yeah, I got a park. Yo,

439
00:20:28,680 --> 00:20:31,679
Speaker 2: I'm getting all these units for this lower price, and

440
00:20:31,840 --> 00:20:35,040
Speaker 2: now I don't have the resources. What do I go next.

441
00:20:35,119 --> 00:20:36,600
Speaker 2: I don't have the people that repair, I don't have

442
00:20:36,640 --> 00:20:39,120
Speaker 2: all these different things. So a lot of them kind

443
00:20:39,119 --> 00:20:40,679
Speaker 2: of they don't know the homes.

444
00:20:40,960 --> 00:20:47,360
Speaker 4: The homes so okay, so but after that you went

445
00:20:47,440 --> 00:20:49,280
Speaker 4: on like a dry spell for a little bit, right,

446
00:20:49,359 --> 00:20:50,560
Speaker 4: trying to buy parks.

447
00:20:50,560 --> 00:20:51,520
Speaker 6: So what happened with that?

448
00:20:51,840 --> 00:20:54,520
Speaker 2: Yeah, So for myself, I'm like, you know what, this is, dope,

449
00:20:54,640 --> 00:20:58,000
Speaker 2: we got him this year. I went on Sham's podcast

450
00:20:58,000 --> 00:21:00,760
Speaker 2: like I'm getting ten this year, declared it. And when

451
00:21:00,760 --> 00:21:04,439
Speaker 2: I tell you, every offer I was outbid or it

452
00:21:04,480 --> 00:21:06,479
Speaker 2: just didn't work. You know that I were doing conducting

453
00:21:06,560 --> 00:21:09,119
Speaker 2: due diligence and it just didn't line up. And it

454
00:21:09,160 --> 00:21:10,919
Speaker 2: was a top of year, you know. Prior wise, I'm like, man,

455
00:21:10,920 --> 00:21:12,440
Speaker 2: I said I was gonna get ten, and each month,

456
00:21:12,480 --> 00:21:16,160
Speaker 2: each quarter, I'm saying, I'm just like yo, like one

457
00:21:16,440 --> 00:21:17,680
Speaker 2: and I'm just like, man, this is.

458
00:21:17,760 --> 00:21:18,640
Speaker 9: Just flying out a lot.

459
00:21:18,640 --> 00:21:22,119
Speaker 8: I remember back and forth down to Atlanta, different parts

460
00:21:22,119 --> 00:21:24,440
Speaker 8: of Georgia looking at parks. We looked at a few

461
00:21:24,440 --> 00:21:27,320
Speaker 8: in North Carolina. But the thing too, is that some

462
00:21:27,359 --> 00:21:29,840
Speaker 8: of the parks that we would see via online when

463
00:21:29,840 --> 00:21:30,920
Speaker 8: we got in person.

464
00:21:30,640 --> 00:21:33,440
Speaker 9: Were like, whoa, it's way more maintenance.

465
00:21:33,440 --> 00:21:35,119
Speaker 8: It's going to be needed, you know, done on this

466
00:21:35,240 --> 00:21:37,879
Speaker 8: land versus what the pictures look like. So that was

467
00:21:37,920 --> 00:21:40,120
Speaker 8: another reason that I felt like it kind of held

468
00:21:40,200 --> 00:21:41,040
Speaker 8: us back a little bit.

469
00:21:41,160 --> 00:21:43,080
Speaker 5: Yeah. So I mean That's good that you said that,

470
00:21:43,119 --> 00:21:45,240
Speaker 5: because when you see the properties and you're like, damn,

471
00:21:45,680 --> 00:21:47,639
Speaker 5: all right, it's gonna be more than I thought. How

472
00:21:47,760 --> 00:21:50,760
Speaker 5: much reserves do you need? Like when you're getting a park, right,

473
00:21:50,760 --> 00:21:52,840
Speaker 5: because people say like, oh we can get in the deal, yeah,

474
00:21:52,920 --> 00:21:55,080
Speaker 5: fifty to get into it, but like, yeah, we might

475
00:21:55,119 --> 00:21:57,399
Speaker 5: need some money for these renovations and we might have

476
00:21:57,400 --> 00:21:59,920
Speaker 5: to need money to pay salaries for the blocky man's

477
00:22:00,040 --> 00:22:02,280
Speaker 5: all these people that are that be part of this

478
00:22:02,280 --> 00:22:04,040
Speaker 5: this this union. Now, like what's that like?

479
00:22:04,359 --> 00:22:06,640
Speaker 2: So the key thing, you know, like you said, leading

480
00:22:06,680 --> 00:22:09,280
Speaker 2: those reserves, you know, depends on what type of funding

481
00:22:09,320 --> 00:22:11,040
Speaker 2: you need they do. That's why the due diligence is

482
00:22:11,080 --> 00:22:13,359
Speaker 2: so important, right, we want to see what's all every

483
00:22:13,560 --> 00:22:16,080
Speaker 2: worst case scenario that can happen. Right, A lot of

484
00:22:16,080 --> 00:22:18,120
Speaker 2: times it comes to you know, you see a lot

485
00:22:18,119 --> 00:22:20,560
Speaker 2: of older, older sower systems, or they may be on

486
00:22:20,680 --> 00:22:24,120
Speaker 2: a septic or well water, and so you definitely want

487
00:22:24,119 --> 00:22:27,959
Speaker 2: to budget, you know, for those problems. So again, when

488
00:22:28,000 --> 00:22:30,919
Speaker 2: a reserve, it really depends on how many units. So

489
00:22:31,040 --> 00:22:33,440
Speaker 2: I say, I got I'm looking for a twenty five unit, right,

490
00:22:33,480 --> 00:22:35,800
Speaker 2: and hype, let's say twenty five unit it's gonna cost

491
00:22:35,840 --> 00:22:39,160
Speaker 2: me seven hundred and fifty k. So depending on if

492
00:22:39,200 --> 00:22:41,840
Speaker 2: I know, you know the septic well, I know I

493
00:22:41,840 --> 00:22:44,000
Speaker 2: want I want a few new houses. I get the

494
00:22:44,000 --> 00:22:46,520
Speaker 2: houses finance. But now I may try to raise you know,

495
00:22:46,560 --> 00:22:49,120
Speaker 2: another one hundred and fifty k, just like you said,

496
00:22:49,160 --> 00:22:51,480
Speaker 2: just to have those for those reserves and then normally salaries.

497
00:22:51,520 --> 00:22:53,320
Speaker 2: What we want to do is, like I said, a

498
00:22:53,359 --> 00:22:55,479
Speaker 2: mobile home park. We look at it like this, I'm

499
00:22:55,480 --> 00:22:57,680
Speaker 2: buying a business. So if it's already cash on and

500
00:22:57,760 --> 00:23:00,600
Speaker 2: it's already paying out, either a am I cutting costs

501
00:23:00,760 --> 00:23:03,200
Speaker 2: or you know? Or would I add value and bring

502
00:23:03,240 --> 00:23:04,440
Speaker 2: on more people to the team.

503
00:23:04,920 --> 00:23:06,560
Speaker 5: I feel like the property manager becomes like.

504
00:23:06,480 --> 00:23:12,000
Speaker 2: The LRA pretty much. Yeah, you look for free chiefs

505
00:23:12,000 --> 00:23:12,680
Speaker 2: a psychologists.

506
00:23:12,640 --> 00:23:16,679
Speaker 6: So talk about the land fee, so you'll talk about that.

507
00:23:16,800 --> 00:23:19,119
Speaker 2: Yeah, So you know the average lot rent in America

508
00:23:19,200 --> 00:23:20,160
Speaker 2: is three seventy five.

509
00:23:20,200 --> 00:23:24,560
Speaker 4: Right, and yep, the lot rent is that's how much

510
00:23:24,600 --> 00:23:28,720
Speaker 4: they're paying just to mark their their hoble home.

511
00:23:28,880 --> 00:23:29,120
Speaker 5: Yep.

512
00:23:29,440 --> 00:23:32,800
Speaker 2: Yeah, so similar to hoa right, just like a condo townhome.

513
00:23:33,880 --> 00:23:36,280
Speaker 2: And so the cool thing about ours and PA, all

514
00:23:36,320 --> 00:23:39,160
Speaker 2: of ours were four twenty five and up and it's

515
00:23:39,160 --> 00:23:42,200
Speaker 2: all about location, right. It's you can have for example,

516
00:23:42,359 --> 00:23:44,920
Speaker 2: like in New York, we've had students that we've seen

517
00:23:44,920 --> 00:23:48,080
Speaker 2: that their lot rents are like seven twenty five, you know,

518
00:23:48,359 --> 00:23:50,680
Speaker 2: seven fifth, I mean just up and high where it's California,

519
00:23:50,760 --> 00:23:54,359
Speaker 2: San Diego, maybe twelve hundred dollars. Illinois we see around

520
00:23:54,600 --> 00:23:59,560
Speaker 2: like the five fifty six hundred range. So the purpose

521
00:23:59,600 --> 00:24:01,679
Speaker 2: of that again, like you said, parking making sure that

522
00:24:01,680 --> 00:24:04,240
Speaker 2: they're mobile home they're leasing. But it comes with, for example,

523
00:24:04,240 --> 00:24:05,399
Speaker 2: so we're in a cold of climate. We know we

524
00:24:05,440 --> 00:24:08,800
Speaker 2: got snow removal, right, it could be trash, it could

525
00:24:08,800 --> 00:24:12,960
Speaker 2: be amenities like for example, yeah, right, and then you

526
00:24:13,040 --> 00:24:15,000
Speaker 2: know for the for profit as well, you know, for

527
00:24:15,000 --> 00:24:18,760
Speaker 2: for us as the park owner. But normally what we're

528
00:24:18,840 --> 00:24:20,320
Speaker 2: starting to see though, this is one thing I can

529
00:24:20,359 --> 00:24:23,520
Speaker 2: say I don't really like about the industry some people.

530
00:24:23,560 --> 00:24:25,920
Speaker 2: So let's say you know, LEAs your bids and mobile

531
00:24:25,920 --> 00:24:30,280
Speaker 2: home community and the current lot rent is two seventy five,

532
00:24:30,520 --> 00:24:31,880
Speaker 2: and you're like, you know what, we want to come

533
00:24:31,920 --> 00:24:33,480
Speaker 2: in and kind of get you know, get it up.

534
00:24:33,800 --> 00:24:35,399
Speaker 2: But you guys come in and raise it and be

535
00:24:35,480 --> 00:24:38,160
Speaker 2: all right, next year is gonna be three seventy five

536
00:24:38,160 --> 00:24:40,479
Speaker 2: so it raised aboute hundred dollars. So now that kind

537
00:24:40,520 --> 00:24:42,199
Speaker 2: of affects you know, your people coming in even though

538
00:24:42,240 --> 00:24:44,280
Speaker 2: you know you're gonna add value. So one thing I like,

539
00:24:44,359 --> 00:24:46,000
Speaker 2: I like when I see, like even what else we

540
00:24:46,040 --> 00:24:49,600
Speaker 2: make small increases maybe anywhere from you know, ten, ten

541
00:24:49,640 --> 00:24:51,560
Speaker 2: to twenty five dollars on the high end, and then

542
00:24:51,560 --> 00:24:53,440
Speaker 2: that way over time they see the value. But when

543
00:24:53,480 --> 00:24:54,480
Speaker 2: you come in and just say, hey, you know what,

544
00:24:54,520 --> 00:24:56,560
Speaker 2: we're gonna raise it one hundred bucks, it's like, yo,

545
00:24:56,720 --> 00:24:59,560
Speaker 2: like this, I can't afford this right now. And now

546
00:24:59,560 --> 00:25:01,960
Speaker 2: you see people almost like they parts of getting gentrified.

547
00:25:02,000 --> 00:25:05,480
Speaker 5: It's like the yo, it's under new management. Yeah. Fact,

548
00:25:05,960 --> 00:25:09,080
Speaker 5: so you said by state, right, Like depending on the state,

549
00:25:09,119 --> 00:25:12,760
Speaker 5: that fee can go up. So if I'm starting right obviously,

550
00:25:12,760 --> 00:25:14,320
Speaker 5: if I've done the mobile homes and I've done that

551
00:25:14,359 --> 00:25:16,639
Speaker 5: and I'm a passive investor, if I'm looking to raise much,

552
00:25:16,840 --> 00:25:18,960
Speaker 5: do I start in the state that is known for

553
00:25:19,280 --> 00:25:21,920
Speaker 5: starting in California with the prices a lot higher, or

554
00:25:21,960 --> 00:25:23,080
Speaker 5: I start in New York where you said it could

555
00:25:23,080 --> 00:25:25,240
Speaker 5: be like seven twenty five, Or do I say, you

556
00:25:25,280 --> 00:25:27,280
Speaker 5: know what, let me grow to that. I'll start in

557
00:25:27,320 --> 00:25:30,080
Speaker 5: the Indiana like a id On or something like that,

558
00:25:30,240 --> 00:25:31,280
Speaker 5: so disrespect to those states.

559
00:25:33,080 --> 00:25:36,000
Speaker 8: So for me, if I was looking to get into

560
00:25:36,040 --> 00:25:38,800
Speaker 8: a park, and if I do live in a market

561
00:25:38,800 --> 00:25:40,800
Speaker 8: that I know is a little bit higher, I would

562
00:25:40,840 --> 00:25:43,879
Speaker 8: start in like a Georgia or North Carolina kind of

563
00:25:43,920 --> 00:25:46,280
Speaker 8: like the southern states you'll see like that cheaper libry

564
00:25:46,480 --> 00:25:49,280
Speaker 8: or like you said, Indiana, or even like some parts

565
00:25:49,320 --> 00:25:52,320
Speaker 8: of Illinois. But like southern Illinois you'll see like the

566
00:25:52,440 --> 00:25:54,320
Speaker 8: three seventy five and the four hundred.

567
00:25:54,400 --> 00:25:55,720
Speaker 9: But again you got to go out.

568
00:25:55,600 --> 00:25:58,280
Speaker 8: To rural America in order to see those prices.

569
00:25:59,200 --> 00:26:02,800
Speaker 4: So let's talk about like some issues that you might

570
00:26:02,880 --> 00:26:06,240
Speaker 4: have as far as owning a park, repairs and maintenance,

571
00:26:06,840 --> 00:26:08,080
Speaker 4: what's the what's the deal with that?

572
00:26:08,080 --> 00:26:08,680
Speaker 6: Has that work?

573
00:26:09,000 --> 00:26:10,959
Speaker 2: So roads?

574
00:26:11,280 --> 00:26:11,440
Speaker 6: Right?

575
00:26:11,560 --> 00:26:13,040
Speaker 2: Depending on how old something you come on some of

576
00:26:13,080 --> 00:26:16,320
Speaker 2: these parks is you know just gravel, uh even some

577
00:26:16,520 --> 00:26:19,600
Speaker 2: not even just no pave, no nothing right, just just dirt,

578
00:26:20,640 --> 00:26:22,920
Speaker 2: So you can have issues with that definitely. You know, plumbing,

579
00:26:22,960 --> 00:26:24,960
Speaker 2: if you if you're buying a park with that has

580
00:26:25,080 --> 00:26:27,600
Speaker 2: you know, septic or well water, you know, you always

581
00:26:27,640 --> 00:26:30,119
Speaker 2: have to make sure that water is tested and make

582
00:26:30,160 --> 00:26:32,480
Speaker 2: sure you know, because again you would hate to your

583
00:26:32,480 --> 00:26:35,080
Speaker 2: water is tamper. Now your tenants without water.

584
00:26:34,960 --> 00:26:37,399
Speaker 6: Talk about that the test the water being tested.

585
00:26:37,680 --> 00:26:40,879
Speaker 2: Yeah, so with uh, with well water, it has to

586
00:26:41,240 --> 00:26:43,480
Speaker 2: meet definitely for the county, it has to meet a

587
00:26:43,480 --> 00:26:46,480
Speaker 2: certain grade. Right, And so you know, again if you

588
00:26:46,600 --> 00:26:49,800
Speaker 2: if you're not if you're not maintenance and that you know,

589
00:26:50,080 --> 00:26:52,520
Speaker 2: when it's supposed to be maintenance and things like that,

590
00:26:52,520 --> 00:26:55,560
Speaker 2: that water can get tamper and you know, that's that's

591
00:26:55,560 --> 00:26:57,040
Speaker 2: one of the worst that's the one of the worst

592
00:26:57,040 --> 00:26:57,640
Speaker 2: case scenarios.

593
00:26:57,680 --> 00:26:57,800
Speaker 6: You know.

594
00:26:57,840 --> 00:27:00,960
Speaker 2: Imagine you have a community and they out of water, right,

595
00:27:01,080 --> 00:27:04,280
Speaker 2: and so you know that's the issue. Same thing with

596
00:27:04,320 --> 00:27:06,800
Speaker 2: septic that can get backed up. So that we so

597
00:27:06,840 --> 00:27:11,919
Speaker 2: we always try to look for right, that's a bad thing, right,

598
00:27:12,440 --> 00:27:15,160
Speaker 2: and so we try to look for parks that come

599
00:27:15,200 --> 00:27:19,440
Speaker 2: with city water and city water and city sewer because

600
00:27:20,080 --> 00:27:21,919
Speaker 2: now we know the city has our back. So some

601
00:27:22,040 --> 00:27:25,280
Speaker 2: comes out that's the city's responsibility versus us as owners.

602
00:27:25,320 --> 00:27:27,000
Speaker 2: Now you know, we have to try to go in

603
00:27:27,080 --> 00:27:30,560
Speaker 2: and get this septic and will I think other problems tenants,

604
00:27:31,119 --> 00:27:33,760
Speaker 2: you know, I mean, you know, I think I remember

605
00:27:33,760 --> 00:27:36,960
Speaker 2: you saying the first it was like yo, like ozark, right,

606
00:27:37,440 --> 00:27:41,280
Speaker 2: and then you do you do have communities like that, right?

607
00:27:41,320 --> 00:27:44,080
Speaker 2: You do have communities that you know it's a trip

608
00:27:44,119 --> 00:27:46,480
Speaker 2: house or a meth house, you know, and it can

609
00:27:46,560 --> 00:27:48,920
Speaker 2: kind of corrupt the neighborhood. You could have some bad

610
00:27:48,960 --> 00:27:51,600
Speaker 2: tenants in there that you know that just cause a

611
00:27:51,600 --> 00:27:54,760
Speaker 2: lot of trouble. And then you can think of baby

612
00:27:55,960 --> 00:27:57,120
Speaker 2: and then I would say the houses.

613
00:27:57,240 --> 00:28:00,639
Speaker 8: I think what happens to is a lot of you know, investors,

614
00:28:00,640 --> 00:28:03,480
Speaker 8: They purchase these large communities where you may have a

615
00:28:03,560 --> 00:28:06,760
Speaker 8: seventy five pad and fifty of the lots or field,

616
00:28:06,960 --> 00:28:09,960
Speaker 8: but now you have twenty five homes that need renovations.

617
00:28:10,000 --> 00:28:12,080
Speaker 8: And if you don't understand how to renovate the home

618
00:28:12,160 --> 00:28:14,760
Speaker 8: and just the process of buying and selling the individual

619
00:28:14,800 --> 00:28:17,720
Speaker 8: mobile home, that's a maintenance within itself as well. So

620
00:28:17,760 --> 00:28:19,960
Speaker 8: that's why we see a lot of park owners like

621
00:28:20,080 --> 00:28:23,840
Speaker 8: shy away from investors where us being you know, started

622
00:28:23,840 --> 00:28:27,119
Speaker 8: out investing in individual homes. We see the value of

623
00:28:27,160 --> 00:28:31,040
Speaker 8: allowing our students, allowing investors in our park to come

624
00:28:31,080 --> 00:28:33,800
Speaker 8: and actually renovate the house, and then allowing them to

625
00:28:33,960 --> 00:28:36,200
Speaker 8: buy and flip it or they can put them on payments.

626
00:28:36,520 --> 00:28:38,719
Speaker 8: They go ahead and get their profit, and then we

627
00:28:38,760 --> 00:28:40,320
Speaker 8: still collect our land feed a lot.

628
00:28:40,360 --> 00:28:42,880
Speaker 5: Rent I had like two questions in it. That was

629
00:28:42,880 --> 00:28:47,640
Speaker 5: a lot. Topography is something that you know I've done before,

630
00:28:48,160 --> 00:28:50,320
Speaker 5: very expensive, right for those none you know, it's like

631
00:28:50,320 --> 00:28:52,200
Speaker 5: when you have to test the soil, which for you

632
00:28:52,280 --> 00:28:55,040
Speaker 5: it means everything. Yes, if your land is sinking, that's

633
00:28:55,040 --> 00:28:57,600
Speaker 5: an interesting that have you encountered that? Is that something

634
00:28:57,640 --> 00:29:00,000
Speaker 5: that you guys do when you're doing a duels.

635
00:29:00,320 --> 00:29:02,800
Speaker 2: Well, yes, so that is something we do now we

636
00:29:02,920 --> 00:29:05,600
Speaker 2: haven't encounter it. And and now most states what they

637
00:29:05,640 --> 00:29:09,120
Speaker 2: require is you have to have a certain amount of cement.

638
00:29:09,280 --> 00:29:11,960
Speaker 2: So most so cooling my mobile homes again since their

639
00:29:12,000 --> 00:29:15,280
Speaker 2: mobile when they're when they are you know, I'm wanna

640
00:29:15,280 --> 00:29:18,440
Speaker 2: say bus, but when they are transported, but they transported

641
00:29:18,480 --> 00:29:23,200
Speaker 2: in right. Normally, each each unit has a concrete slab

642
00:29:23,400 --> 00:29:25,760
Speaker 2: and that concrete slab is just you know for stability

643
00:29:25,800 --> 00:29:27,800
Speaker 2: for the home. So again, so you won't have the sinking.

644
00:29:28,760 --> 00:29:31,560
Speaker 2: So the thing you know now is a requirement because

645
00:29:31,600 --> 00:29:33,520
Speaker 2: that what was happening. You have homes. You can go

646
00:29:33,520 --> 00:29:35,200
Speaker 2: into the park and you can see they uneven, they

647
00:29:35,320 --> 00:29:37,360
Speaker 2: kind of top of because like you said, because of

648
00:29:37,400 --> 00:29:39,800
Speaker 2: what's selling. So that is definitely part of the due diligence,

649
00:29:39,840 --> 00:29:41,120
Speaker 2: you do have to test the soil.

650
00:29:41,120 --> 00:29:42,880
Speaker 5: Donna play around the second part of it was like,

651
00:29:42,960 --> 00:29:46,520
Speaker 5: as far as having tenants that might cause issues in it,

652
00:29:46,920 --> 00:29:49,440
Speaker 5: what is the eviction process like in the mobile hole setting?

653
00:29:49,560 --> 00:29:52,600
Speaker 5: Like we know different states having for apartments and you

654
00:29:52,600 --> 00:29:54,520
Speaker 5: know condos, but what is it like for the mobile

655
00:29:54,520 --> 00:29:55,680
Speaker 5: home parks?

656
00:29:56,000 --> 00:29:59,200
Speaker 2: So very similar, very similar, you know when it comes

657
00:29:59,280 --> 00:30:04,680
Speaker 2: to eviction. You know, I will say, we've seen, we've now.

658
00:30:05,360 --> 00:30:08,600
Speaker 2: The difference is they can file earlier. It states like

659
00:30:08,640 --> 00:30:13,400
Speaker 2: Louisiana where they can file if you're behind ten days,

660
00:30:13,520 --> 00:30:16,000
Speaker 2: they can get the process started. And there's a lot

661
00:30:16,040 --> 00:30:17,880
Speaker 2: of states like that. When we first came, it was

662
00:30:17,880 --> 00:30:18,840
Speaker 2: like man, who regulating this?

663
00:30:19,000 --> 00:30:19,200
Speaker 6: Right?

664
00:30:19,200 --> 00:30:21,480
Speaker 2: Like how does this allowed? But you see it as

665
00:30:21,520 --> 00:30:24,440
Speaker 2: almost you know, anywhere from ten to thirty days where

666
00:30:24,480 --> 00:30:25,800
Speaker 2: they can get that process started.

667
00:30:26,400 --> 00:30:28,960
Speaker 4: So, like, what's the cash flow that you're looking for?

668
00:30:29,200 --> 00:30:33,040
Speaker 4: Like on average, I know it depends, but is it

669
00:30:33,080 --> 00:30:34,880
Speaker 4: a play for appreciation or is it a play for

670
00:30:34,920 --> 00:30:35,400
Speaker 4: cash flow?

671
00:30:35,680 --> 00:30:39,320
Speaker 2: Both? So cash flow you coming in for us, you know,

672
00:30:39,360 --> 00:30:41,680
Speaker 2: we like anything that's at least eight thousand dollars cash

673
00:30:41,680 --> 00:30:43,680
Speaker 2: flow because we know we can go add value if

674
00:30:43,680 --> 00:30:45,480
Speaker 2: it's empty houses. We know we can get that cash

675
00:30:45,480 --> 00:30:48,280
Speaker 2: flow up to anywhere from ten to twelve. For example,

676
00:30:48,360 --> 00:30:51,160
Speaker 2: our our first one that we sold, that cash flow

677
00:30:51,200 --> 00:30:53,560
Speaker 2: we had when we purchased it. That cash flow it

678
00:30:53,640 --> 00:30:55,200
Speaker 2: was right at eleven. We getting up getting up to

679
00:30:55,240 --> 00:30:56,280
Speaker 2: seventeen thousand a month.

680
00:30:57,360 --> 00:30:59,880
Speaker 6: That's for the park. For the park, yep, so seven

681
00:31:01,320 --> 00:31:02,600
Speaker 6: seventeen thousand net.

682
00:31:03,200 --> 00:31:04,360
Speaker 2: Yeah, seventeen thousand net.

683
00:31:04,600 --> 00:31:06,400
Speaker 6: Okay, And you said, what was it before?

684
00:31:06,600 --> 00:31:07,200
Speaker 2: It was eleven?

685
00:31:07,360 --> 00:31:09,840
Speaker 6: So what made you How did that increase the seventeen thousand?

686
00:31:10,040 --> 00:31:13,120
Speaker 2: So for we did increase the lot rent. We were

687
00:31:13,160 --> 00:31:17,160
Speaker 2: able to feel the empty paths that we had as

688
00:31:17,240 --> 00:31:21,400
Speaker 2: well as he had. No, that was actually that was

689
00:31:21,400 --> 00:31:24,040
Speaker 2: the first two because I'm thinking about the other park

690
00:31:24,040 --> 00:31:26,479
Speaker 2: where it ended up adding value, like the Vendom machines

691
00:31:26,520 --> 00:31:26,840
Speaker 2: and stuff.

692
00:31:27,480 --> 00:31:30,520
Speaker 8: Once you feel the empty houses and you get either

693
00:31:30,600 --> 00:31:33,320
Speaker 8: attended buyer, you get somebody else in there that kind

694
00:31:33,320 --> 00:31:35,600
Speaker 8: of makes up for the missing lot rent that you're

695
00:31:35,640 --> 00:31:38,080
Speaker 8: originally not getting in by having those paths empty.

696
00:31:39,200 --> 00:31:42,080
Speaker 5: You said something about Vendam machines. What's going on? Earnest?

697
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698
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699
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700
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701
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702
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704
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705
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706
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721
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Speaker 10: Right now, that's a play watching yl you can put

722
00:32:57,560 --> 00:32:59,440
Speaker 10: that as a value add again, I'm you know, a game,

723
00:33:00,280 --> 00:33:02,720
Speaker 10: so we got to get so you know, honestly, you

724
00:33:02,720 --> 00:33:04,360
Speaker 10: can do a lot of value adds right like I said,

725
00:33:04,360 --> 00:33:05,520
Speaker 10: you can add in the machines.

726
00:33:06,000 --> 00:33:09,000
Speaker 2: One thing that we incorporate food truck. Yeah, incorporating is

727
00:33:09,040 --> 00:33:11,320
Speaker 2: buying you know, older food truck. Now you can have

728
00:33:12,320 --> 00:33:14,240
Speaker 2: food truck. And now you can actually have you know,

729
00:33:14,320 --> 00:33:15,960
Speaker 2: one of the tenants who's one of the best cooks

730
00:33:15,960 --> 00:33:18,000
Speaker 2: to come and now serve that. So it's a lot

731
00:33:18,000 --> 00:33:20,880
Speaker 2: of different value ads even I'm I'm gonna give them

732
00:33:20,920 --> 00:33:24,200
Speaker 2: a play. So now instead of having an actual convenience store,

733
00:33:24,400 --> 00:33:27,600
Speaker 2: you can purchase an older r V a camper and

734
00:33:27,680 --> 00:33:30,320
Speaker 2: turn that into a convenience store. So now it's mobile

735
00:33:30,360 --> 00:33:32,320
Speaker 2: so that can go get his own snacks and fill up.

736
00:33:32,320 --> 00:33:34,360
Speaker 2: And now, because the biggest thing you want to do

737
00:33:34,400 --> 00:33:37,240
Speaker 2: for community, you really want to have a community, Like

738
00:33:37,280 --> 00:33:39,120
Speaker 2: I get it. We look at his investors, but for us,

739
00:33:39,200 --> 00:33:40,840
Speaker 2: it's the community. What can we do for the people,

740
00:33:40,880 --> 00:33:42,720
Speaker 2: How can we add value for the people? And those

741
00:33:42,760 --> 00:33:44,440
Speaker 2: are the few ways we to do it just finding

742
00:33:44,440 --> 00:33:45,000
Speaker 2: out what they like.

743
00:33:45,320 --> 00:33:47,120
Speaker 4: Yeah, that's a good idea for sure, because it's like

744
00:33:47,120 --> 00:33:48,760
Speaker 4: people got to instead of going to the store, you

745
00:33:48,760 --> 00:33:50,160
Speaker 4: can just have everything you need.

746
00:33:50,280 --> 00:33:52,440
Speaker 6: So in these mobile home communities.

747
00:33:52,120 --> 00:33:55,600
Speaker 4: What is the vibe? It's just like five how big

748
00:33:55,680 --> 00:33:59,720
Speaker 4: is it? Eight acres? Five acres? Five So five acres

749
00:34:00,240 --> 00:34:04,800
Speaker 4: of just land with seventy mobile homes.

750
00:34:06,160 --> 00:34:06,560
Speaker 6: That's it.

751
00:34:06,680 --> 00:34:12,960
Speaker 4: There's nothing like it's what are they doing?

752
00:34:16,160 --> 00:34:17,839
Speaker 2: So one thing I will say what I love about

753
00:34:17,920 --> 00:34:20,560
Speaker 2: mobile they're more it's a more tight knit family, right

754
00:34:20,640 --> 00:34:24,520
Speaker 2: because again sometimes they are stereotyped. Right you live in them,

755
00:34:24,600 --> 00:34:26,920
Speaker 2: you live in a trailer or things like that, right,

756
00:34:26,920 --> 00:34:29,120
Speaker 2: But down south you see it more often. But in

757
00:34:29,160 --> 00:34:31,680
Speaker 2: the community, the community is more tight knit than a

758
00:34:31,719 --> 00:34:33,719
Speaker 2: lot of times that we think of. Like you said,

759
00:34:33,719 --> 00:34:35,880
Speaker 2: they may you know, go to work activities depending on

760
00:34:35,920 --> 00:34:36,920
Speaker 2: where that's.

761
00:34:36,520 --> 00:34:37,600
Speaker 6: That's kind of a jaded question.

762
00:34:38,560 --> 00:34:40,800
Speaker 4: It's like I'm thinking, like a restaurant, you got to

763
00:34:41,239 --> 00:34:42,359
Speaker 4: you got to be able to go to the gym,

764
00:34:42,400 --> 00:34:43,799
Speaker 4: like you know what I'm saying, Like everything is in

765
00:34:43,880 --> 00:34:48,800
Speaker 4: walking distance or at driving distance. But I guess most people,

766
00:34:48,920 --> 00:34:51,680
Speaker 4: if you're in Middle America, a lot of stuff is not.

767
00:34:52,760 --> 00:34:54,719
Speaker 6: In the city anything exactly. What if you live in

768
00:34:54,760 --> 00:34:55,759
Speaker 6: a house. You don't know what I'm saying.

769
00:34:56,000 --> 00:34:58,400
Speaker 5: What if we can turn one of those, like like

770
00:34:58,440 --> 00:35:03,000
Speaker 5: those fast food franchises into them mobile unit to the property.

771
00:35:03,400 --> 00:35:06,520
Speaker 5: Well like what so let's say you had like like

772
00:35:06,600 --> 00:35:09,719
Speaker 5: McDonald Donald's and we had a mobile truck that came

773
00:35:10,080 --> 00:35:12,040
Speaker 5: the same way that they cook, like the fast truck does.

774
00:35:12,080 --> 00:35:13,719
Speaker 5: Now you bring that to the property. I was really

775
00:35:13,760 --> 00:35:16,480
Speaker 5: thinking entertainment wise too, like maybe once a month, you know,

776
00:35:16,520 --> 00:35:17,560
Speaker 5: like they have those mobile screens.

777
00:35:18,920 --> 00:35:22,520
Speaker 2: It's a lot of places and depends so especially down South,

778
00:35:22,600 --> 00:35:25,279
Speaker 2: like those down South, so it's their community. So you

779
00:35:25,280 --> 00:35:28,520
Speaker 2: have all age communities and then you have to earners.

780
00:35:28,520 --> 00:35:30,640
Speaker 5: What's up? You ever walk into a small business and

781
00:35:30,680 --> 00:35:33,840
Speaker 5: everything just works, Like the checkout is fast, the re

782
00:35:33,920 --> 00:35:37,640
Speaker 5: seats are digital, tipping is a breeze, and you're out

783
00:35:37,680 --> 00:35:40,919
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784
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786
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788
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795
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799
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820
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821
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822
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823
00:38:05,280 --> 00:38:08,640
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824
00:38:09,040 --> 00:38:13,760
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825
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Speaker 11: border and families will be protected.

826
00:38:16,480 --> 00:38:18,440
Speaker 5: Sponsored by the United States Department of Homeland.

827
00:38:18,239 --> 00:38:21,399
Speaker 2: Security five plus communities fifty five plus Again, anybody who's

828
00:38:21,400 --> 00:38:24,120
Speaker 2: fifty five plus retired. They like living amongst each other.

829
00:38:24,480 --> 00:38:26,400
Speaker 2: So in a lot of those communities you have different

830
00:38:26,480 --> 00:38:28,879
Speaker 2: you know, start your five star communities, you know one

831
00:38:28,920 --> 00:38:31,719
Speaker 2: star communities. One stars, they're like, yo, I don't think

832
00:38:31,719 --> 00:38:34,399
Speaker 2: I'm driving enough. And then you get the five star

833
00:38:34,440 --> 00:38:36,680
Speaker 2: you're like, yo, these a mobile homes because the new

834
00:38:36,760 --> 00:38:39,120
Speaker 2: stuff is crazy. Well I'll talk about that. But so

835
00:38:39,280 --> 00:38:43,040
Speaker 2: now they have entertainment, right, they have Like we did

836
00:38:43,080 --> 00:38:45,920
Speaker 2: business in India, they had a clubhouse, so they'll have different,

837
00:38:45,960 --> 00:38:48,799
Speaker 2: you know, different weekly things that they'll do in the clubhouse.

838
00:38:49,160 --> 00:38:51,560
Speaker 2: So you have mobile home communities that you know, a

839
00:38:51,600 --> 00:38:54,840
Speaker 2: family base, and they definitely have you know, different things.

840
00:38:55,280 --> 00:38:57,319
Speaker 8: Or I was gonna say, even the one, our first

841
00:38:57,360 --> 00:38:59,839
Speaker 8: part that we did business in in Illinois, they had

842
00:38:59,840 --> 00:39:02,279
Speaker 8: a pool or swimming pool for the kids, like a

843
00:39:02,320 --> 00:39:05,200
Speaker 8: basketball court. Like it seems small to us, but like

844
00:39:05,239 --> 00:39:08,080
Speaker 8: you said, like individuals who live in like rural America,

845
00:39:08,280 --> 00:39:09,680
Speaker 8: like that is their entertainment.

846
00:39:09,880 --> 00:39:12,160
Speaker 5: I got a bunch of ideas.

847
00:39:12,360 --> 00:39:17,560
Speaker 6: I'm crazy mobile homes. I was always thinking the whole

848
00:39:17,560 --> 00:39:18,920
Speaker 6: point is to be able to drive.

849
00:39:19,320 --> 00:39:24,640
Speaker 4: Yeah, but I'm hearing that most people don't leave, So

850
00:39:25,480 --> 00:39:27,160
Speaker 4: why do you have a mobile home if you're not

851
00:39:27,160 --> 00:39:27,880
Speaker 4: going to be driving.

852
00:39:28,480 --> 00:39:31,040
Speaker 2: So the difference. So so the ones you talk about

853
00:39:31,040 --> 00:39:34,480
Speaker 2: the driving those are the r vs. Yeah, and so

854
00:39:34,800 --> 00:39:37,959
Speaker 2: the mobile like more so manufacturing home. But the reason

855
00:39:38,000 --> 00:39:40,360
Speaker 2: we still call them mobile because again they be moved

856
00:39:40,360 --> 00:39:42,960
Speaker 2: to a spot. But those are the double wise. The

857
00:39:43,040 --> 00:39:46,240
Speaker 2: single wise that you see, those are more so that.

858
00:39:49,000 --> 00:39:52,239
Speaker 2: So they're just okay, they're.

859
00:39:51,719 --> 00:39:54,719
Speaker 6: Called mobile because they can be moved exactly. They're not

860
00:39:54,760 --> 00:39:55,920
Speaker 6: actually like driving.

861
00:39:57,520 --> 00:40:01,840
Speaker 2: They are like the tiny home, right, and they are

862
00:40:01,840 --> 00:40:04,720
Speaker 2: similar in the factory so against just like for example,

863
00:40:04,719 --> 00:40:07,799
Speaker 2: like Clayton Holmes that's Born Buffets company. They cranking out

864
00:40:07,840 --> 00:40:10,480
Speaker 2: some factories can crank out thirty homes a day. So

865
00:40:10,520 --> 00:40:12,680
Speaker 2: they're cranking them out just like you know, just like

866
00:40:12,719 --> 00:40:15,080
Speaker 2: a like a car, and then they move them to

867
00:40:15,120 --> 00:40:15,560
Speaker 2: the location.

868
00:40:15,600 --> 00:40:17,439
Speaker 4: We you know, it's one of these things that we're

869
00:40:17,480 --> 00:40:19,799
Speaker 4: in a housing crisis right now and inflation is at

870
00:40:19,840 --> 00:40:23,000
Speaker 4: all time high and the housing market is that all

871
00:40:23,000 --> 00:40:25,479
Speaker 4: time high. Is also so a lot of people can't

872
00:40:25,520 --> 00:40:29,080
Speaker 4: afford to lift places. So it's like, you know, because

873
00:40:29,239 --> 00:40:31,399
Speaker 4: how much do these things cost now? Like how much

874
00:40:31,440 --> 00:40:33,320
Speaker 4: mobile homes costs now on average?

875
00:40:33,440 --> 00:40:38,120
Speaker 8: So average I was gonna say, use average. So when

876
00:40:38,160 --> 00:40:40,520
Speaker 8: we first started, you can really find a use mobile

877
00:40:40,560 --> 00:40:42,320
Speaker 8: home for less than five thousand dollars.

878
00:40:42,360 --> 00:40:43,560
Speaker 9: So I would say that we.

879
00:40:43,680 --> 00:40:46,040
Speaker 8: Definitely run the market up a little bit, so I

880
00:40:46,040 --> 00:40:50,000
Speaker 8: would say, shout out to y'all.

881
00:40:50,160 --> 00:40:53,040
Speaker 9: But so now it's right.

882
00:40:53,200 --> 00:40:55,160
Speaker 8: But now I would definitely say you can still find

883
00:40:55,200 --> 00:40:57,439
Speaker 8: a mobile home, a use mobile home for a less

884
00:40:57,440 --> 00:41:00,479
Speaker 8: than ten thousand dollars. Now a newer mobile were home,

885
00:41:00,640 --> 00:41:04,279
Speaker 8: like a twenty twenty two. That really depends on the

886
00:41:04,400 --> 00:41:06,520
Speaker 8: making model, but I would say average.

887
00:41:06,560 --> 00:41:07,840
Speaker 9: The lowest we've seen.

888
00:41:07,719 --> 00:41:10,400
Speaker 8: Is like thirty thousand upwards to like fifty thousand.

889
00:41:10,640 --> 00:41:13,799
Speaker 2: How many squiff feet, so anywhere from seven hundred seven

890
00:41:13,880 --> 00:41:15,879
Speaker 2: hundred scud feet to a double wide on a high

891
00:41:16,000 --> 00:41:17,799
Speaker 2: end almost two thousand square feet.

892
00:41:17,600 --> 00:41:19,280
Speaker 5: So that could be like two to three bedrooms.

893
00:41:21,400 --> 00:41:22,719
Speaker 2: You can get four bedrooms out of those.

894
00:41:23,360 --> 00:41:24,799
Speaker 5: They come with launder units inside of it too.

895
00:41:24,840 --> 00:41:28,040
Speaker 2: Yeah, yep, everything you have laundry units. Yeah. So what

896
00:41:28,080 --> 00:41:32,760
Speaker 2: I love about it imagine launch, right, So the beautiful

897
00:41:32,800 --> 00:41:37,279
Speaker 2: thing about it, right, like most so after definitely after

898
00:41:37,320 --> 00:41:40,120
Speaker 2: the eighties, everything was made just like a like an apartment, right,

899
00:41:40,160 --> 00:41:43,120
Speaker 2: So imagine just a longer apartment with no upstairs downstairs

900
00:41:43,239 --> 00:41:45,000
Speaker 2: is just it's just its unit. And then one thing

901
00:41:45,000 --> 00:41:47,200
Speaker 2: that she said, the average about ten thousand, but I know,

902
00:41:47,400 --> 00:41:53,000
Speaker 2: are your viewers from California, from Massachusetts, New York, They're

903
00:41:53,000 --> 00:41:55,920
Speaker 2: gonna be like ten thousand where because it's all about location.

904
00:41:56,480 --> 00:41:58,600
Speaker 2: The same oble home that we can go get for

905
00:41:58,640 --> 00:42:02,560
Speaker 2: ten thousand dollars, let's say in Florida, in San Diego,

906
00:42:02,600 --> 00:42:07,160
Speaker 2: that costs seventy thousand dollars. So it's all about location, right,

907
00:42:07,200 --> 00:42:09,640
Speaker 2: So a lot of places they don't see that. But

908
00:42:09,800 --> 00:42:12,520
Speaker 2: I always tell people, if your mobile home costs seventy

909
00:42:12,520 --> 00:42:15,960
Speaker 2: thousand dollars, that means your single family home is at

910
00:42:16,040 --> 00:42:18,720
Speaker 2: least four hundred thousand dollars. So it's a huge gap,

911
00:42:18,760 --> 00:42:20,799
Speaker 2: and it's still it's always gonna be an affordable option.

912
00:42:21,560 --> 00:42:25,239
Speaker 4: So Okay, So I was reading and they said the

913
00:42:25,239 --> 00:42:29,440
Speaker 4: mobile home parks is low risk and high demand. Yeah,

914
00:42:29,719 --> 00:42:33,200
Speaker 4: low risk, high demand, So I'm assuming it's low risk

915
00:42:33,280 --> 00:42:36,759
Speaker 4: because there's not a lot going on and you said

916
00:42:36,760 --> 00:42:39,680
Speaker 4: people don't usually leave, Yeah, and high demand because we

917
00:42:39,760 --> 00:42:41,160
Speaker 4: just talked about a housing crisis.

918
00:42:41,280 --> 00:42:42,600
Speaker 6: Yeah, and it's a.

919
00:42:42,640 --> 00:42:46,360
Speaker 4: Very affordable way to lift yes, So it's actually like

920
00:42:46,480 --> 00:42:49,120
Speaker 4: something that is it's getting bigger.

921
00:42:49,960 --> 00:42:53,719
Speaker 2: Yeah, oh yeah, for sure. It's so it's especially what's

922
00:42:53,760 --> 00:42:56,040
Speaker 2: happening right now. Right like I said, we're seeing prices

923
00:42:56,040 --> 00:42:59,360
Speaker 2: are going up inflation. People still need to you know,

924
00:42:59,400 --> 00:43:01,799
Speaker 2: affordable place to live, and so it is becoming more

925
00:43:01,800 --> 00:43:05,359
Speaker 2: attractive because it's like apartment ren's not going down. And

926
00:43:05,480 --> 00:43:08,279
Speaker 2: now I can make twenty dollars an hour, fifteen dollars

927
00:43:08,280 --> 00:43:10,200
Speaker 2: an hour, and I can go live in a community.

928
00:43:10,200 --> 00:43:12,560
Speaker 2: I can have my own my own home for and

929
00:43:12,640 --> 00:43:15,040
Speaker 2: I can pay kind of similar to either what an

930
00:43:15,040 --> 00:43:18,040
Speaker 2: average apartment rentals or less, or I can own my

931
00:43:18,200 --> 00:43:21,640
Speaker 2: home for fifteen thousand dollars in like three years, four years,

932
00:43:21,640 --> 00:43:24,800
Speaker 2: whatever the terms look like. So people are starting to realize,

933
00:43:24,840 --> 00:43:26,960
Speaker 2: like all right, especially people that are like, you know,

934
00:43:27,000 --> 00:43:29,000
Speaker 2: like thirty thirty and up. They're like, yo, you know

935
00:43:29,040 --> 00:43:31,600
Speaker 2: what it's going downsides Like we were trying to live

936
00:43:31,640 --> 00:43:33,520
Speaker 2: in the city and things. Let's go get this mobile home.

937
00:43:33,800 --> 00:43:36,800
Speaker 2: Save some money because you going to parks, you see benses,

938
00:43:37,040 --> 00:43:40,239
Speaker 2: you see them big four one fifties, Like they live

939
00:43:40,320 --> 00:43:43,880
Speaker 2: good because their cost of living is cheaper.

940
00:43:45,719 --> 00:43:50,120
Speaker 4: And it's a low turnover. Right, yes, what about competition,

941
00:43:50,600 --> 00:43:52,719
Speaker 4: Like is it a competitive market right now.

942
00:43:53,480 --> 00:43:58,600
Speaker 2: Yes, it definitely is. I think on all aspects. It's

943
00:43:58,640 --> 00:44:03,000
Speaker 2: competitive as far as you know, people come into the

944
00:44:03,000 --> 00:44:05,880
Speaker 2: space want to buy mobile home communities. Now it's still

945
00:44:05,920 --> 00:44:08,640
Speaker 2: when the last time we spoke institutionally. What I mean

946
00:44:08,680 --> 00:44:11,800
Speaker 2: by that like like you know, company like private companies

947
00:44:12,040 --> 00:44:14,759
Speaker 2: or large institutions only had on ten percent of the

948
00:44:14,800 --> 00:44:17,240
Speaker 2: market ship. The rest we call mom and pop parks,

949
00:44:17,280 --> 00:44:18,960
Speaker 2: meaning it just you know, they've been in a family,

950
00:44:19,040 --> 00:44:23,759
Speaker 2: they're privately owned. Now that's probably up to about right

951
00:44:23,760 --> 00:44:26,719
Speaker 2: around like thirteen fifteen percent. So there's still a lot

952
00:44:26,760 --> 00:44:29,040
Speaker 2: of communities out there. Some people are sitting and holding

953
00:44:29,040 --> 00:44:30,920
Speaker 2: in value and then some people are like, you know what,

954
00:44:31,000 --> 00:44:32,799
Speaker 2: I'm not about to sell to you to come in

955
00:44:32,840 --> 00:44:34,920
Speaker 2: here and raise the value and push my tenants out.

956
00:44:35,640 --> 00:44:37,759
Speaker 2: And so it's all about relationships nowadays, right You got

957
00:44:37,800 --> 00:44:40,160
Speaker 2: to build a good relationship with somebody who has a community.

958
00:44:41,120 --> 00:44:42,960
Speaker 2: You know, some people, a lot of park owners, they

959
00:44:42,960 --> 00:44:44,600
Speaker 2: are older and they're like, you know what, my kids

960
00:44:44,640 --> 00:44:48,080
Speaker 2: don't want this. You know, they look like a nice

961
00:44:48,080 --> 00:44:53,120
Speaker 2: couple will sell my mobile home community.

962
00:44:53,239 --> 00:44:54,560
Speaker 8: No, I was going to hop in and say, because

963
00:44:54,600 --> 00:44:57,879
Speaker 8: I know viewers for the individual home aspect, I would

964
00:44:57,920 --> 00:45:01,200
Speaker 8: say that it's not competitive. It's still a very low

965
00:45:01,239 --> 00:45:04,279
Speaker 8: competition market if you do. If someone's watching this and

966
00:45:04,280 --> 00:45:06,000
Speaker 8: they're like, hey, I just still want to get into

967
00:45:06,120 --> 00:45:09,120
Speaker 8: even the individual space and then transition to the mobile

968
00:45:09,120 --> 00:45:12,200
Speaker 8: home community space, it's still a great market to get

969
00:45:12,200 --> 00:45:14,840
Speaker 8: in as far as that low risk and involvement in

970
00:45:14,880 --> 00:45:15,400
Speaker 8: real estate.

971
00:45:16,000 --> 00:45:17,919
Speaker 5: Yeah, I'm thinking from the stand point and I'm glad

972
00:45:18,000 --> 00:45:20,600
Speaker 5: you said it was like they're cranking out thirty homes

973
00:45:20,640 --> 00:45:23,640
Speaker 5: a day, right, you have parks. At some point, do

974
00:45:23,719 --> 00:45:26,400
Speaker 5: you think, hey, maybe I should design it or create

975
00:45:26,400 --> 00:45:29,279
Speaker 5: the actual homes to actually sell the people we have.

976
00:45:29,600 --> 00:45:31,880
Speaker 2: We definitely have. I got a list of all the manufacturers,

977
00:45:31,880 --> 00:45:35,200
Speaker 2: and you know, I honestly look at it like twenty

978
00:45:35,239 --> 00:45:37,400
Speaker 2: twenty three. I want to go into get an acquisition

979
00:45:37,880 --> 00:45:40,839
Speaker 2: where I buy an actual manufactured company so we can

980
00:45:40,880 --> 00:45:43,400
Speaker 2: have Because what happened with the pandemic did it slowed

981
00:45:43,440 --> 00:45:46,560
Speaker 2: down the production. So it's a lot of park owners

982
00:45:46,560 --> 00:45:49,560
Speaker 2: who are on still waiting for new homes to come

983
00:45:49,600 --> 00:45:52,720
Speaker 2: in because right now, like you said, it's it's a demand.

984
00:45:52,760 --> 00:45:54,480
Speaker 2: So people are now trying to fill up their parks.

985
00:45:54,480 --> 00:45:58,000
Speaker 2: It's still like the wild wild West, meaning whereas you

986
00:45:58,480 --> 00:46:01,280
Speaker 2: gotta park. Troy has a park. Rashad got a park.

987
00:46:01,480 --> 00:46:04,520
Speaker 2: Rashad just bought a park. He got seventy units all

988
00:46:04,680 --> 00:46:07,440
Speaker 2: his all field. You got a park. You got seventy units,

989
00:46:07,440 --> 00:46:09,520
Speaker 2: but only fifty is field. So you may come to

990
00:46:09,520 --> 00:46:11,359
Speaker 2: somebody like, hey, listen, I need some homes so they

991
00:46:11,360 --> 00:46:13,759
Speaker 2: can go to Rashad's park and take money out of

992
00:46:13,800 --> 00:46:15,960
Speaker 2: Rashad's park by taking buying a home, taking it out

993
00:46:16,000 --> 00:46:18,000
Speaker 2: of his park to bringing yours. Now, that can cost

994
00:46:18,080 --> 00:46:20,440
Speaker 2: Rashada anywhere from twenty some thousand dollars plus because he

995
00:46:20,480 --> 00:46:22,520
Speaker 2: got a fill of his land and now that's stopped.

996
00:46:22,520 --> 00:46:24,440
Speaker 2: That's just another home. The cast laws out.

997
00:46:24,680 --> 00:46:27,359
Speaker 5: The person that actually he's just gonna how's that work?

998
00:46:27,400 --> 00:46:28,520
Speaker 5: He's gonna take it from the lot.

999
00:46:28,880 --> 00:46:32,520
Speaker 2: So here's the thing. Yeah, So here's the thing. When

1000
00:46:32,600 --> 00:46:35,839
Speaker 2: you own, for example, mobile homes inside of mobile home

1001
00:46:35,880 --> 00:46:39,600
Speaker 2: communities except in Texas, New Hampshire, Vermont, they are titled

1002
00:46:39,680 --> 00:46:42,879
Speaker 2: just like cars. Right, so I own an asset. Once

1003
00:46:42,920 --> 00:46:45,480
Speaker 2: I have that title, I don't necessarily have to have

1004
00:46:45,560 --> 00:46:47,600
Speaker 2: this in the community. So as for us, we try,

1005
00:46:47,640 --> 00:46:49,480
Speaker 2: you know, you want to get tenants on leases in

1006
00:46:49,520 --> 00:46:52,440
Speaker 2: agreement saying hey, I want to stay in this spot

1007
00:46:52,480 --> 00:46:54,120
Speaker 2: for at least a year. Some people have two three

1008
00:46:54,200 --> 00:46:57,560
Speaker 2: year commitments. Whatever that looks like. So now if I

1009
00:46:57,560 --> 00:47:00,759
Speaker 2: if let's say I'm not in the you know it's

1010
00:47:01,080 --> 00:47:02,880
Speaker 2: Rashad's parking, is your park, i'mnna bring it to you

1011
00:47:03,719 --> 00:47:06,640
Speaker 2: if I have the title, and Sharanie says, hey, I

1012
00:47:06,640 --> 00:47:08,279
Speaker 2: can help you. I'll sell you. I mean I'll buy

1013
00:47:08,280 --> 00:47:11,440
Speaker 2: a home from you. Right, cool, And she's the highest bidder.

1014
00:47:12,160 --> 00:47:14,439
Speaker 2: Now she can go buy the home. She's the title owner,

1015
00:47:14,440 --> 00:47:16,319
Speaker 2: and she can go to Rasha like, yo, I'm the

1016
00:47:16,360 --> 00:47:19,520
Speaker 2: title owner. So unless you're gonna give me thirty K

1017
00:47:19,640 --> 00:47:22,840
Speaker 2: for this house, I'm moving in. And Sean can be

1018
00:47:22,840 --> 00:47:24,080
Speaker 2: like either I'm gonna pay you that or no?

1019
00:47:24,239 --> 00:47:24,480
Speaker 6: All right?

1020
00:47:24,520 --> 00:47:26,600
Speaker 2: Cool. Now she's taking that home to Troy because because

1021
00:47:26,760 --> 00:47:27,879
Speaker 2: she on the asset.

1022
00:47:27,960 --> 00:47:31,720
Speaker 5: So it's like the title like the deed for the house. Yeah, gotcha.

1023
00:47:32,040 --> 00:47:35,520
Speaker 2: People find mobile home parks, so I know she got

1024
00:47:35,520 --> 00:47:38,360
Speaker 2: the resource. Mobile home parkstore dot.

1025
00:47:38,120 --> 00:47:43,040
Speaker 8: Com, loopnet dot com is another one. Facebook groups. It's

1026
00:47:43,080 --> 00:47:46,000
Speaker 8: a lot of like mobile home park Mastermind Facebook groups.

1027
00:47:46,040 --> 00:47:47,840
Speaker 9: You can find park.

1028
00:47:47,600 --> 00:47:53,080
Speaker 8: Owners or agents that's listing parks driving for dollars like

1029
00:47:53,120 --> 00:47:55,759
Speaker 8: you can still drive around to different communities and if

1030
00:47:55,800 --> 00:47:58,200
Speaker 8: the current owner is there, you can get out and

1031
00:47:58,200 --> 00:48:00,520
Speaker 8: have a conversation with them and just ask like, hey,

1032
00:48:00,560 --> 00:48:02,279
Speaker 8: you know you have a thought about selling or you're

1033
00:48:02,280 --> 00:48:05,600
Speaker 8: thinking about selling.

1034
00:48:05,719 --> 00:48:08,600
Speaker 5: Is there like like an auction? They do auctions for homes.

1035
00:48:09,120 --> 00:48:14,040
Speaker 2: If it's like more, there are some you can definitely, yeah,

1036
00:48:14,040 --> 00:48:16,040
Speaker 2: you can find homes. But even for parks that they

1037
00:48:16,080 --> 00:48:19,880
Speaker 2: have some, especially if it's like like a tax duh,

1038
00:48:19,920 --> 00:48:21,560
Speaker 2: you can get those every now and then. They have

1039
00:48:21,640 --> 00:48:24,279
Speaker 2: a few I've seen like Arizona they have auctions. I

1040
00:48:24,280 --> 00:48:26,239
Speaker 2: also tell them give them the Google Google Map play.

1041
00:48:27,000 --> 00:48:28,160
Speaker 9: Oh yeah, Google Map.

1042
00:48:28,239 --> 00:48:31,359
Speaker 8: You can put in your Google Maps and mobile home

1043
00:48:31,400 --> 00:48:34,120
Speaker 8: parks near me in your area and then it literally

1044
00:48:34,200 --> 00:48:36,400
Speaker 8: would show you all of the mobile home parks is

1045
00:48:36,440 --> 00:48:39,320
Speaker 8: off any highways it's in your area. So that's another

1046
00:48:39,360 --> 00:48:41,360
Speaker 8: way to see the mobile home parks in your area.

1047
00:48:42,400 --> 00:48:43,640
Speaker 6: So it's good information.

1048
00:48:44,280 --> 00:48:48,640
Speaker 4: So as far as like buying a mobile home park,

1049
00:48:48,960 --> 00:48:51,120
Speaker 4: you have like an inspector come in and they do

1050
00:48:51,200 --> 00:48:53,680
Speaker 4: an inspection, like if you're buying a home, but they

1051
00:48:53,680 --> 00:48:56,719
Speaker 4: got an inspection for every home, or they just do

1052
00:48:56,760 --> 00:48:58,680
Speaker 4: an inspection for the land.

1053
00:48:59,080 --> 00:49:01,040
Speaker 6: More they don't expect the individual.

1054
00:49:00,600 --> 00:49:04,160
Speaker 2: Home, so more so for the land. But I would

1055
00:49:04,200 --> 00:49:05,920
Speaker 2: tell you know, I would encourage if you definitely get

1056
00:49:05,920 --> 00:49:07,279
Speaker 2: inspection over the houses as well.

1057
00:49:07,360 --> 00:49:09,160
Speaker 4: They don't you can do that, yeah, like you have

1058
00:49:09,280 --> 00:49:11,839
Speaker 4: somebody do it each individual house, just to make sure

1059
00:49:11,840 --> 00:49:12,920
Speaker 4: the maintenance of the houses.

1060
00:49:13,400 --> 00:49:14,480
Speaker 6: That could affect you too, right.

1061
00:49:14,640 --> 00:49:18,120
Speaker 2: Yeah. And then so for example, what if it's tenant owned,

1062
00:49:18,120 --> 00:49:20,880
Speaker 2: if the home is you know again the tenant owns. Uh,

1063
00:49:21,080 --> 00:49:22,719
Speaker 2: more so just the exterior.

1064
00:49:23,160 --> 00:49:24,160
Speaker 6: How's appraisals work?

1065
00:49:25,320 --> 00:49:29,319
Speaker 2: So they are mobile home park appraisals? The process, I

1066
00:49:29,400 --> 00:49:32,400
Speaker 2: don't know, but I will say I like appraisals because

1067
00:49:32,440 --> 00:49:35,720
Speaker 2: every time the park we had, we always get equity

1068
00:49:35,760 --> 00:49:36,040
Speaker 2: within this.

1069
00:49:36,440 --> 00:49:36,640
Speaker 5: Yeah.

1070
00:49:37,600 --> 00:49:41,520
Speaker 4: Do you think that, like, like for real estate investor,

1071
00:49:41,640 --> 00:49:46,080
Speaker 4: is is this something that you would consider people to

1072
00:49:46,160 --> 00:49:50,240
Speaker 4: chick consider instead of buying homes, buying mobile home parks

1073
00:49:50,400 --> 00:49:52,239
Speaker 4: or like in addition to their real estate portfolio.

1074
00:49:52,719 --> 00:49:55,440
Speaker 5: Look, the CFOs that get it get it. The CFOs

1075
00:49:55,480 --> 00:49:58,800
Speaker 5: that don't don't. Let's talk about the CFO. The chief

1076
00:49:58,840 --> 00:50:02,520
Speaker 5: financial officer. Today's CFO is critical to the strategy and

1077
00:50:02,520 --> 00:50:05,359
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1078
00:50:05,400 --> 00:50:08,560
Speaker 5: two kinds of CFOs. One who's struggling to keep up

1079
00:50:08,920 --> 00:50:13,560
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1080
00:50:13,600 --> 00:50:16,360
Speaker 5: the numbers. It takes weeks to close the books. The

1081
00:50:16,440 --> 00:50:20,360
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1082
00:50:20,640 --> 00:50:23,800
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1083
00:50:24,280 --> 00:50:27,120
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1084
00:50:27,160 --> 00:50:30,200
Speaker 5: netwuite is the number one cloud financial system used by

1085
00:50:30,239 --> 00:50:34,200
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1086
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1087
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1088
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1089
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1096
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1097
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1098
00:51:14,520 --> 00:51:17,799
Speaker 2: I mean, we will providing a competition now. But now

1099
00:51:17,880 --> 00:51:19,120
Speaker 2: you know what though, I would say this if you

1100
00:51:19,160 --> 00:51:22,360
Speaker 2: want to buy more units for a more affordable price.

1101
00:51:22,520 --> 00:51:25,600
Speaker 2: For example, if you buy an apartment building nowadays, the average

1102
00:51:25,600 --> 00:51:27,920
Speaker 2: apartment building per unit, you're looking at anywhere from like

1103
00:51:27,960 --> 00:51:30,320
Speaker 2: sixty nine thousand up or still like eighty nine thousand

1104
00:51:30,400 --> 00:51:33,160
Speaker 2: per unit. Whereas a mobile home park you're looking at

1105
00:51:33,480 --> 00:51:35,480
Speaker 2: we would like to we like to find units anyway

1106
00:51:35,600 --> 00:51:39,520
Speaker 2: thirty thousand and less, but you're looking at possibly thirty thousand.

1107
00:51:39,640 --> 00:51:41,479
Speaker 2: On the high ends. We see some people like fifty

1108
00:51:41,520 --> 00:51:44,640
Speaker 2: five thousand per unit. So you get more, you get

1109
00:51:44,680 --> 00:51:47,160
Speaker 2: more units, yep, you get more unit. You get the

1110
00:51:47,200 --> 00:51:48,279
Speaker 2: land too, get the land.

1111
00:51:48,360 --> 00:51:51,239
Speaker 6: Yeah, now every time you get to own the land.

1112
00:51:51,360 --> 00:51:54,600
Speaker 2: Yeah, park every time. And the beautiful part of extra strategy,

1113
00:51:54,640 --> 00:51:56,359
Speaker 2: it depends on where your land is. Let's say God

1114
00:51:56,400 --> 00:51:59,000
Speaker 2: forbid all the homes or now I can sell it

1115
00:51:59,080 --> 00:52:01,439
Speaker 2: to home depots, so it's so my land to them.

1116
00:52:01,520 --> 00:52:03,880
Speaker 4: So but those two parts that you sold, why did

1117
00:52:04,000 --> 00:52:05,800
Speaker 4: it appreciate so much though, because that was like a

1118
00:52:05,800 --> 00:52:07,080
Speaker 4: big appreciation for both of them.

1119
00:52:07,160 --> 00:52:09,680
Speaker 6: Yeah. Was it a reason did you like refurbish it.

1120
00:52:09,680 --> 00:52:13,960
Speaker 2: Or or it's just good timing both right, just definitely

1121
00:52:14,040 --> 00:52:16,520
Speaker 2: adding the value to it. Turning the tenants. Like I said,

1122
00:52:17,239 --> 00:52:20,239
Speaker 2: people are more likely to get a loan from the

1123
00:52:20,280 --> 00:52:23,160
Speaker 2: fact that if it's tenant owned homes, right, because they

1124
00:52:23,200 --> 00:52:25,640
Speaker 2: look at it, it's more it's a riskier if I

1125
00:52:25,719 --> 00:52:28,600
Speaker 2: have I if I'm going to own all the homes.

1126
00:52:28,719 --> 00:52:31,520
Speaker 2: And then, like you said, perfect time after the pandemic,

1127
00:52:31,600 --> 00:52:34,200
Speaker 2: people saw the results, right, rent rolls, I mean it

1128
00:52:34,239 --> 00:52:36,200
Speaker 2: was on paper, rent rolls are looking good. You're still

1129
00:52:36,200 --> 00:52:38,319
Speaker 2: looking a lot of a lot of mobile home park owners.

1130
00:52:38,320 --> 00:52:40,760
Speaker 2: Rent rolls are still like eighty five to ninety percent,

1131
00:52:40,920 --> 00:52:44,280
Speaker 2: whereas you're saying apartments, I mean, you know they struggling.

1132
00:52:44,320 --> 00:52:46,840
Speaker 2: It was they was people won't even get thirty percent

1133
00:52:46,840 --> 00:52:48,960
Speaker 2: of their rent rolls. So you know, it just looked

1134
00:52:49,080 --> 00:52:52,080
Speaker 2: very attractive. And then the cash flow you just saw

1135
00:52:52,160 --> 00:52:54,879
Speaker 2: more and more, more and more companies and investors like, yo,

1136
00:52:54,960 --> 00:52:59,000
Speaker 2: this is kind of safe because now this is what

1137
00:52:59,040 --> 00:53:01,480
Speaker 2: I've heard from my but they used to call it

1138
00:53:01,520 --> 00:53:04,719
Speaker 2: basically kind of like a you know, like a recess

1139
00:53:04,760 --> 00:53:09,200
Speaker 2: recession resistant asset class, because that's when most people are

1140
00:53:09,200 --> 00:53:12,000
Speaker 2: gonna come when times are bad, you know, to a

1141
00:53:12,000 --> 00:53:13,560
Speaker 2: mobile home community.

1142
00:53:13,239 --> 00:53:16,600
Speaker 5: Okay, okay, I got that. I got that. So it

1143
00:53:16,880 --> 00:53:19,000
Speaker 5: so we got these lands. You said, twenty twenty one

1144
00:53:19,040 --> 00:53:22,239
Speaker 5: was a tough year. At some point we had to

1145
00:53:22,360 --> 00:53:25,840
Speaker 5: readjust the planssess what we're doing. What was that like

1146
00:53:25,920 --> 00:53:28,799
Speaker 5: for both of y'all, Like, you know that that could

1147
00:53:28,880 --> 00:53:33,439
Speaker 5: lead to some tension and now we're still having this wedding. Man,

1148
00:53:35,160 --> 00:53:35,839
Speaker 5: we got to hit.

1149
00:53:35,760 --> 00:53:40,400
Speaker 2: These you know what, I will say, she helped me.

1150
00:53:40,600 --> 00:53:45,880
Speaker 2: I was kind of stressing and as always, it's always stressing,

1151
00:53:46,680 --> 00:53:49,400
Speaker 2: and she kept you know, she she definitely kept me

1152
00:53:49,480 --> 00:53:51,320
Speaker 2: level headed. You know, just look at the bigger picture.

1153
00:53:51,360 --> 00:53:53,200
Speaker 2: Look what we have, you know, look what we've been

1154
00:53:53,200 --> 00:53:55,719
Speaker 2: able to create, and that did help me.

1155
00:53:55,960 --> 00:53:57,479
Speaker 9: And then don't want to say, look what we've done.

1156
00:53:57,560 --> 00:54:00,200
Speaker 8: Right, So at that point we were like, oh, we

1157
00:54:00,200 --> 00:54:02,000
Speaker 8: want to get so many mobile home parks. But then

1158
00:54:02,080 --> 00:54:04,160
Speaker 8: I think we didn't realize what we created in the

1159
00:54:04,320 --> 00:54:07,799
Speaker 8: educational space. As far as you know, we got over

1160
00:54:07,920 --> 00:54:11,520
Speaker 8: ten thousand students enrolled in our program. So that's another stressor.

1161
00:54:11,640 --> 00:54:15,480
Speaker 8: And you know, within itself on building the top mobile

1162
00:54:15,520 --> 00:54:18,800
Speaker 8: home investment educational program in the country, that comes with

1163
00:54:19,000 --> 00:54:21,200
Speaker 8: again we had to build a team around that. So

1164
00:54:21,280 --> 00:54:23,840
Speaker 8: now We have a team of eight under us now

1165
00:54:24,000 --> 00:54:26,280
Speaker 8: just for that alone, and then still trying to build

1166
00:54:26,320 --> 00:54:28,560
Speaker 8: our team around the mobile home communities as well.

1167
00:54:29,440 --> 00:54:32,880
Speaker 5: Yeah, ye're building two different entities, but one educational and

1168
00:54:33,160 --> 00:54:34,479
Speaker 5: it's still practicing in the space.

1169
00:54:34,560 --> 00:54:36,440
Speaker 2: Yes, it's tough, yeah, love.

1170
00:54:37,000 --> 00:54:38,160
Speaker 6: Do you have a park manager?

1171
00:54:38,560 --> 00:54:40,960
Speaker 2: Yes, so every community has a park manager and they

1172
00:54:43,840 --> 00:54:46,920
Speaker 2: mostly we offer but they can live whatever. I think

1173
00:54:47,000 --> 00:54:49,319
Speaker 2: one of them does not live on the community. And

1174
00:54:49,360 --> 00:54:52,600
Speaker 2: they're like the super kind of basically yep, just like

1175
00:54:52,640 --> 00:54:55,800
Speaker 2: a super. The difference that they don't fix anything. They'll

1176
00:54:55,840 --> 00:54:58,360
Speaker 2: mostly call the shots, you know, they make sure, you know,

1177
00:54:58,360 --> 00:55:00,600
Speaker 2: they report everything out, just a.

1178
00:55:00,640 --> 00:55:03,360
Speaker 6: Check on everything. What do you think the future for

1179
00:55:03,480 --> 00:55:06,759
Speaker 6: mobile homes in America is? So?

1180
00:55:07,280 --> 00:55:12,080
Speaker 2: Honestly, so this is the mobile home park space. Manufactured

1181
00:55:12,080 --> 00:55:15,919
Speaker 2: home space technically kind of threatens the housing sector. Why

1182
00:55:15,960 --> 00:55:19,280
Speaker 2: because they're cranked out in a factory. So if America

1183
00:55:19,360 --> 00:55:21,759
Speaker 2: really regulated this and said okay, cool, free, will you

1184
00:55:21,760 --> 00:55:25,440
Speaker 2: guys everybody can create factories. Now you're talking about what

1185
00:55:25,480 --> 00:55:28,279
Speaker 2: you're gonna do to contractors and builders, right, because now

1186
00:55:28,360 --> 00:55:30,800
Speaker 2: if we just popping up all these homes, you know, factories,

1187
00:55:30,800 --> 00:55:34,160
Speaker 2: and we just putting in places that definitely. That hurts, right,

1188
00:55:34,520 --> 00:55:37,080
Speaker 2: So you know it's it's still regulated, but I see that.

1189
00:55:37,200 --> 00:55:39,800
Speaker 2: I mean, if you guys, you know, anybody's that's watching,

1190
00:55:39,960 --> 00:55:42,240
Speaker 2: you know, you can google twenty twenty two mobile homes,

1191
00:55:42,320 --> 00:55:46,320
Speaker 2: manufactured homes and I mean now the manufacturing town homes

1192
00:55:46,360 --> 00:55:49,040
Speaker 2: and you know, multi level floors and things like that.

1193
00:55:49,120 --> 00:55:53,080
Speaker 2: So the future as people are looking to downsize or

1194
00:55:53,120 --> 00:55:54,920
Speaker 2: people realize that they'll need too much space living in

1195
00:55:55,040 --> 00:55:58,719
Speaker 2: kind of like that minimalistic life, you know, it's affordable.

1196
00:55:58,840 --> 00:56:01,400
Speaker 2: I think we're really we really will see more people

1197
00:56:01,480 --> 00:56:03,560
Speaker 2: in that space. You see the tiny home space to

1198
00:56:03,600 --> 00:56:06,400
Speaker 2: container home space. You know, it's all right right on.

1199
00:56:06,400 --> 00:56:09,960
Speaker 5: The same all you're watching those likes and saying, all right,

1200
00:56:10,239 --> 00:56:12,120
Speaker 5: is this competition right because you know, we know some

1201
00:56:12,120 --> 00:56:17,280
Speaker 5: people that have home communities and nah, so it's completely.

1202
00:56:16,840 --> 00:56:20,520
Speaker 2: Different, completely because for us owning the land, come on,

1203
00:56:20,560 --> 00:56:23,480
Speaker 2: tiny home, come on container home, like we got we

1204
00:56:23,480 --> 00:56:24,319
Speaker 2: can replace those.

1205
00:56:24,400 --> 00:56:29,000
Speaker 6: Yeah you could do that.

1206
00:56:29,000 --> 00:56:31,640
Speaker 2: That no, well, she had she loves me.

1207
00:56:32,520 --> 00:56:34,520
Speaker 9: I'm like, I have, I love tiny homes.

1208
00:56:34,520 --> 00:56:37,080
Speaker 8: So that's originally what I wanted to get into before

1209
00:56:37,080 --> 00:56:39,600
Speaker 8: we even got to the mobile home space. What attracted

1210
00:56:39,640 --> 00:56:42,080
Speaker 8: me to mobile homes was the affordability. So you know,

1211
00:56:42,239 --> 00:56:44,839
Speaker 8: tiny homes, it's kind of like they're on the same

1212
00:56:44,880 --> 00:56:47,600
Speaker 8: lines as regular single family home prices, and you know,

1213
00:56:47,719 --> 00:56:49,839
Speaker 8: certain markets you can get a tiny home for like

1214
00:56:49,880 --> 00:56:53,000
Speaker 8: seventy thousand versus like when we first started, we didn't

1215
00:56:53,000 --> 00:56:56,160
Speaker 8: have anything, So me going out and searching for a

1216
00:56:56,160 --> 00:56:58,400
Speaker 8: mobile home that we can get for three thousand and

1217
00:56:58,440 --> 00:57:00,520
Speaker 8: flip it for ten thousand was more attracted.

1218
00:57:01,480 --> 00:57:05,440
Speaker 6: So this is a this is a land play.

1219
00:57:05,719 --> 00:57:08,080
Speaker 2: Yeah, yeah, this all land play, land play.

1220
00:57:08,840 --> 00:57:10,360
Speaker 5: E've been watching the McDonald's documentary.

1221
00:57:10,480 --> 00:57:15,280
Speaker 2: Yeah, that's like the primary focus on the land.

1222
00:57:16,920 --> 00:57:19,720
Speaker 4: But you so all right, you buy the land, but

1223
00:57:20,440 --> 00:57:22,240
Speaker 4: you can't do anything you want with the land though, right,

1224
00:57:22,240 --> 00:57:25,520
Speaker 4: Like you can't kick the people off technically.

1225
00:57:25,640 --> 00:57:28,960
Speaker 2: You can technically, but you know again, I mean for myself,

1226
00:57:29,000 --> 00:57:33,400
Speaker 2: living integrity now our person, Yeah, but you can. Yeah.

1227
00:57:33,440 --> 00:57:35,280
Speaker 2: So for example, we just come to a parking North

1228
00:57:35,280 --> 00:57:39,040
Speaker 2: Carolina and he they hadn't know, maybe twenty plus homes

1229
00:57:39,560 --> 00:57:42,320
Speaker 2: and the developed well he's a developer, and he's just like, yo,

1230
00:57:42,480 --> 00:57:45,120
Speaker 2: like I think they got everybody out of the homes

1231
00:57:45,240 --> 00:57:47,000
Speaker 2: and now sell the rest of these mobile homes and

1232
00:57:47,040 --> 00:57:49,919
Speaker 2: they're going to develop apartments so.

1233
00:57:50,000 --> 00:57:52,240
Speaker 4: Like, when you go for financing for this, since you're

1234
00:57:52,240 --> 00:57:56,080
Speaker 4: buying land but you're also buying houses, what kind of

1235
00:57:56,160 --> 00:57:56,760
Speaker 4: loan is it?

1236
00:57:57,000 --> 00:58:00,280
Speaker 2: Yeah, so it is a They do have matter of fact, sure,

1237
00:58:00,880 --> 00:58:06,240
Speaker 2: manufactured home community loans specifically for just for this Yep

1238
00:58:06,360 --> 00:58:11,720
Speaker 2: and Fanny May. They actually have a certain amount that

1239
00:58:11,800 --> 00:58:16,120
Speaker 2: they have just for manufactured home communities that they you know,

1240
00:58:16,200 --> 00:58:18,880
Speaker 2: that they actually allow. I don't. I don't remember the

1241
00:58:18,920 --> 00:58:22,200
Speaker 2: actual number. So you know, you you are. Well, we're

1242
00:58:22,200 --> 00:58:24,360
Speaker 2: seeing since we first started, we're seeing more and more

1243
00:58:24,440 --> 00:58:28,480
Speaker 2: lenders now that are are lending for mobile home parks and.

1244
00:58:29,000 --> 00:58:32,480
Speaker 4: Like, what's the requirements like saying, like you like tax returns?

1245
00:58:32,920 --> 00:58:35,000
Speaker 2: Yeah, pretty much like a commercial real right, you know,

1246
00:58:35,000 --> 00:58:39,720
Speaker 2: the same thing real estate. We was in this space

1247
00:58:39,880 --> 00:58:42,439
Speaker 2: twenty five thirty percent, so we're hoping to go down

1248
00:58:42,480 --> 00:58:43,280
Speaker 2: to twenty.

1249
00:58:43,440 --> 00:58:45,720
Speaker 5: Was it always that you've seen it change?

1250
00:58:46,000 --> 00:58:46,640
Speaker 2: We haven't seen.

1251
00:58:46,680 --> 00:58:48,640
Speaker 8: Well, So I go ahead, and I was gonna say,

1252
00:58:48,680 --> 00:58:50,680
Speaker 8: just from when we just first started doing this, I

1253
00:58:50,680 --> 00:58:51,840
Speaker 8: would say it's always.

1254
00:58:51,600 --> 00:58:53,320
Speaker 9: Been kind of thirty thirty percent.

1255
00:58:53,760 --> 00:58:56,000
Speaker 5: Now, going back to that that landplay that you said

1256
00:58:56,280 --> 00:58:59,240
Speaker 5: from let's say like you wanted to turn it into apartments,

1257
00:58:59,240 --> 00:59:01,720
Speaker 5: so you want to call commercial real estate or something

1258
00:59:01,800 --> 00:59:03,560
Speaker 5: like that. Do you have to now go back to

1259
00:59:03,840 --> 00:59:06,000
Speaker 5: the zoning laws and go to the county and figure out.

1260
00:59:05,840 --> 00:59:08,440
Speaker 9: If we can yes, yet on the same process.

1261
00:59:08,600 --> 00:59:10,040
Speaker 6: Yeah, then you can refine.

1262
00:59:10,920 --> 00:59:14,000
Speaker 2: Yeah, And so that's really the play honestly, like for example,

1263
00:59:14,440 --> 00:59:17,640
Speaker 2: you know again just see why, Yeah, get played here,

1264
00:59:17,960 --> 00:59:21,120
Speaker 2: you know you gotta get plays. But you know, again,

1265
00:59:21,160 --> 00:59:23,120
Speaker 2: if I find, if I find a community, I add

1266
00:59:23,200 --> 00:59:26,080
Speaker 2: value to it, I want to refinance, right because now

1267
00:59:26,080 --> 00:59:27,720
Speaker 2: I can go take that with the equity and I

1268
00:59:27,760 --> 00:59:29,920
Speaker 2: can go put the down payment on another community. And

1269
00:59:29,960 --> 00:59:31,840
Speaker 2: so that's what most are doing, just like the you know,

1270
00:59:31,880 --> 00:59:33,840
Speaker 2: the Birst strategy. Just like with houses, people are doing

1271
00:59:33,840 --> 00:59:34,960
Speaker 2: that with mobile home communities.

1272
00:59:37,920 --> 00:59:39,720
Speaker 5: What so, I know ten was the goal last year.

1273
00:59:40,360 --> 00:59:41,880
Speaker 5: We set a goal. I mean it's still early. In

1274
00:59:41,920 --> 00:59:44,400
Speaker 5: twenty twenty two, we set a goal for this year. Yeah,

1275
00:59:47,600 --> 00:59:48,680
Speaker 5: we're gonna hold you to.

1276
00:59:50,480 --> 00:59:51,640
Speaker 2: I got bad luck from man.

1277
00:59:52,800 --> 00:59:53,080
Speaker 6: There's that.

1278
00:59:53,160 --> 00:59:55,000
Speaker 5: There's a number that we that we're like, you know what,

1279
00:59:55,200 --> 00:59:56,640
Speaker 5: realistically we can hit this number.

1280
00:59:57,600 --> 01:00:00,840
Speaker 2: Yes, yes, because why because we we're rolling out a

1281
01:00:00,840 --> 01:00:04,080
Speaker 2: mobile home park fund and so that allows us each

1282
01:00:04,160 --> 01:00:06,920
Speaker 2: quarter to buy multiple and so the goal is to

1283
01:00:06,960 --> 01:00:10,360
Speaker 2: get three to four communities a quarter and now allow

1284
01:00:10,560 --> 01:00:13,520
Speaker 2: opportunity for more people to come as passive investors, to

1285
01:00:13,560 --> 01:00:16,040
Speaker 2: get to learn how to do it. And again we

1286
01:00:16,040 --> 01:00:18,200
Speaker 2: always talk about we can always talk about group economics,

1287
01:00:18,200 --> 01:00:19,480
Speaker 2: but a lot of people don't look like us that

1288
01:00:19,560 --> 01:00:21,680
Speaker 2: do this. So now it's like, oh, we open up

1289
01:00:21,680 --> 01:00:24,640
Speaker 2: the doors. Right, I think we know what three three

1290
01:00:24,680 --> 01:00:28,960
Speaker 2: black mobile home park, so in this space, and it

1291
01:00:29,000 --> 01:00:31,160
Speaker 2: may be more, but we don't necessarily know them. So

1292
01:00:31,560 --> 01:00:33,560
Speaker 2: for us, we now we want to each quarter, we

1293
01:00:33,600 --> 01:00:35,840
Speaker 2: want to say, hey, we got ten more, you got

1294
01:00:35,840 --> 01:00:38,440
Speaker 2: ten more, you got ten more, and that again allows

1295
01:00:38,480 --> 01:00:40,320
Speaker 2: us to buy it allows us to buy more. And

1296
01:00:40,360 --> 01:00:42,240
Speaker 2: then for us, you know, kind of stepping now into

1297
01:00:42,280 --> 01:00:45,160
Speaker 2: that fund space, you know, that's that's the next thing

1298
01:00:45,160 --> 01:00:45,560
Speaker 2: for us.

1299
01:00:45,680 --> 01:00:48,520
Speaker 5: So the fund, we can actually invest in it. How

1300
01:00:48,960 --> 01:00:50,040
Speaker 5: does this work? Told me?

1301
01:00:50,320 --> 01:00:55,640
Speaker 2: Yeah, So the fund, we'll have general partners, limited partners

1302
01:00:55,800 --> 01:00:58,640
Speaker 2: the fund for us. I don't know if I could

1303
01:00:58,640 --> 01:01:02,320
Speaker 2: say that numbers I got hot the eighth, but okay,

1304
01:01:02,400 --> 01:01:05,560
Speaker 2: I'll get hypothetical. Right, So let's say the fund we say, hey,

1305
01:01:05,600 --> 01:01:07,440
Speaker 2: you know what, our general partners, we want to put

1306
01:01:07,480 --> 01:01:08,520
Speaker 2: sixty thousand a piece.

1307
01:01:08,600 --> 01:01:08,760
Speaker 5: Right.

1308
01:01:09,120 --> 01:01:10,600
Speaker 2: The goal is we going to say we want to

1309
01:01:10,680 --> 01:01:14,720
Speaker 2: raise a million dollars, and that million the goal is

1310
01:01:14,760 --> 01:01:18,600
Speaker 2: to take that million to become down payments for each community.

1311
01:01:18,680 --> 01:01:20,440
Speaker 2: So that's how we get more instead of just buying

1312
01:01:20,640 --> 01:01:24,520
Speaker 2: these parks our cash. Now right though within a million,

1313
01:01:24,520 --> 01:01:26,120
Speaker 2: we can find as many parks as we can. Let

1314
01:01:26,160 --> 01:01:28,480
Speaker 2: allow that be the down payment. We go get go,

1315
01:01:28,520 --> 01:01:31,320
Speaker 2: get outside finance. And so now what we're able to

1316
01:01:31,360 --> 01:01:34,240
Speaker 2: do is, hey, we own Let's say we own five

1317
01:01:34,280 --> 01:01:36,680
Speaker 2: million dollars in assets. The goal is to get a

1318
01:01:36,760 --> 01:01:39,760
Speaker 2: larger fund to look at us add value. While we're

1319
01:01:39,760 --> 01:01:41,600
Speaker 2: adding value, we want a larger fund to say, you

1320
01:01:41,640 --> 01:01:44,080
Speaker 2: know what, look look at that. That's sustainable. Okay, let

1321
01:01:44,120 --> 01:01:45,800
Speaker 2: me let me go get them seven million for that,

1322
01:01:47,080 --> 01:01:48,520
Speaker 2: and now we make sure we take care of all

1323
01:01:48,560 --> 01:01:49,240
Speaker 2: of our investors.

1324
01:01:50,320 --> 01:01:52,280
Speaker 4: What's some of the biggest issues with the part, Like,

1325
01:01:52,320 --> 01:01:53,720
Speaker 4: is it environmental issues?

1326
01:01:53,880 --> 01:01:55,280
Speaker 6: Is it tenants?

1327
01:01:55,280 --> 01:01:58,480
Speaker 4: Like, what's some some of the downsides that can be hurtful?

1328
01:01:59,200 --> 01:01:59,400
Speaker 2: Yeah?

1329
01:02:00,040 --> 01:02:05,160
Speaker 8: Yeah, I would say definitely tenants, maintenance issues, I think

1330
01:02:05,200 --> 01:02:08,200
Speaker 8: just across the board, and even traditional real estate and

1331
01:02:08,320 --> 01:02:12,760
Speaker 8: mobile homes. Finding a reliable handyman and contractor and even

1332
01:02:12,800 --> 01:02:16,040
Speaker 8: just a handyman team has been like the biggest issues

1333
01:02:16,080 --> 01:02:17,360
Speaker 8: I would say we have saw.

1334
01:02:17,800 --> 01:02:19,960
Speaker 2: Yeah, and then the worst what happens is if you

1335
01:02:19,960 --> 01:02:22,680
Speaker 2: don't do your due diligence. Well we've seen people actually

1336
01:02:22,680 --> 01:02:24,840
Speaker 2: go in and buy a community and not consult with

1337
01:02:24,880 --> 01:02:28,920
Speaker 2: the county, not get the okay. And so if you

1338
01:02:28,920 --> 01:02:30,440
Speaker 2: you definitely want to be on the you know, the

1339
01:02:30,840 --> 01:02:33,280
Speaker 2: good side of with the with the city and the county,

1340
01:02:33,320 --> 01:02:35,600
Speaker 2: because we've seen people get a lot of trouble, right

1341
01:02:35,600 --> 01:02:38,120
Speaker 2: because what happens is they'll buy something, is the city

1342
01:02:38,160 --> 01:02:40,480
Speaker 2: is like, yo, that's already like ugly, we want that

1343
01:02:40,520 --> 01:02:42,560
Speaker 2: out of there. And you bought that and you're not

1344
01:02:42,560 --> 01:02:44,680
Speaker 2: doing nothing to that. So now you're gonna have I mean,

1345
01:02:44,720 --> 01:02:47,440
Speaker 2: they gonna come and look for everything, co violations, everything,

1346
01:02:47,520 --> 01:02:49,240
Speaker 2: you know, just to you know. So that's that's what

1347
01:02:49,320 --> 01:02:51,000
Speaker 2: we've seen people have a lot of headaches with as well.

1348
01:02:53,320 --> 01:02:56,800
Speaker 4: So talk about you also scaled the education a lot,

1349
01:02:56,880 --> 01:02:59,640
Speaker 4: right from the last time that we spoke, So talk

1350
01:02:59,680 --> 01:03:01,760
Speaker 4: about that. You talked about your your students having like

1351
01:03:01,880 --> 01:03:05,800
Speaker 4: I think ten thousand students nature, So how has that

1352
01:03:05,840 --> 01:03:07,400
Speaker 4: been as far as scaling that and talk about some

1353
01:03:07,440 --> 01:03:09,120
Speaker 4: of the maybe it's the success stories.

1354
01:03:09,600 --> 01:03:13,680
Speaker 8: Yeah, and so we actually brought on a head coach,

1355
01:03:13,840 --> 01:03:17,000
Speaker 8: so I got a shout out in Nicole Brisco mobile

1356
01:03:17,040 --> 01:03:20,720
Speaker 8: home mommy. But so the beautiful thing what I love

1357
01:03:20,760 --> 01:03:23,520
Speaker 8: about nicole story is that she was one of our

1358
01:03:23,600 --> 01:03:26,880
Speaker 8: first students that his six figures in less than six months.

1359
01:03:26,920 --> 01:03:30,240
Speaker 8: So Nicole had netted one hundred and eighty one thousand

1360
01:03:31,200 --> 01:03:35,080
Speaker 8: and six months from wholesaling individual mobile homes and then

1361
01:03:35,280 --> 01:03:38,400
Speaker 8: doing some on seller finance through payments.

1362
01:03:38,880 --> 01:03:40,520
Speaker 9: So she reached out to us.

1363
01:03:40,600 --> 01:03:42,720
Speaker 8: I think she hopped on the IG Live with us,

1364
01:03:42,760 --> 01:03:45,520
Speaker 8: and I loved her energy, and I told Byron, I said,

1365
01:03:45,600 --> 01:03:47,880
Speaker 8: you know, we got to think about scaling our educational

1366
01:03:47,920 --> 01:03:50,680
Speaker 8: program because kind of like you talked about Troy, it's

1367
01:03:50,680 --> 01:03:53,320
Speaker 8: hard to you know, have our hats fully in the

1368
01:03:53,400 --> 01:03:56,480
Speaker 8: investing side and try to, you know, have the number.

1369
01:03:56,280 --> 01:03:57,800
Speaker 9: One program in the world as well.

1370
01:03:57,920 --> 01:03:59,840
Speaker 8: So I told him, like, I think we should bring

1371
01:03:59,880 --> 01:04:02,240
Speaker 8: somebody on, and she was my first choice. So we

1372
01:04:02,320 --> 01:04:04,919
Speaker 8: ended up bringing her on and now she has our

1373
01:04:05,040 --> 01:04:09,040
Speaker 8: mentorship program, which is a twelve month program that we do,

1374
01:04:09,120 --> 01:04:11,640
Speaker 8: and that program is really to scale an individual to

1375
01:04:11,720 --> 01:04:15,680
Speaker 8: a six figure earner like herself and then then get

1376
01:04:15,680 --> 01:04:18,560
Speaker 8: them to the seventh figure earner like us and scale them.

1377
01:04:18,400 --> 01:04:20,640
Speaker 9: To buying you know, mobile home communities as well.

1378
01:04:20,840 --> 01:04:22,720
Speaker 2: Yeah, and it's been a blessing, you know. I think

1379
01:04:22,760 --> 01:04:25,440
Speaker 2: that I remember I had some queens pray over me

1380
01:04:25,480 --> 01:04:26,680
Speaker 2: one time, and I remember they was just like, you're

1381
01:04:26,680 --> 01:04:29,800
Speaker 2: a teacher, like a teacher all things. I'm a teacher,

1382
01:04:30,000 --> 01:04:32,200
Speaker 2: you know. But it was fun, right, you know, just

1383
01:04:32,240 --> 01:04:34,160
Speaker 2: being with the people, you know, being online, you know,

1384
01:04:34,240 --> 01:04:36,600
Speaker 2: being able just to share game and just you know,

1385
01:04:36,640 --> 01:04:39,040
Speaker 2: you seeing the impact and then definitely need to be

1386
01:04:39,120 --> 01:04:39,920
Speaker 2: able to do it with her.

1387
01:04:40,160 --> 01:04:40,360
Speaker 6: You know.

1388
01:04:40,480 --> 01:04:43,160
Speaker 2: It's just it's super dope that you know, we get

1389
01:04:43,200 --> 01:04:45,720
Speaker 2: a chance to share our knowledge, you know, see people

1390
01:04:45,800 --> 01:04:47,840
Speaker 2: change their lives and you know, even like you said,

1391
01:04:47,880 --> 01:04:50,760
Speaker 2: scale our team, my best friend growing up, right, my

1392
01:04:50,800 --> 01:04:52,560
Speaker 2: best friend is even on our team. And I got

1393
01:04:52,600 --> 01:04:54,439
Speaker 2: that from you all, right, seeing what y'all been able

1394
01:04:54,440 --> 01:04:56,200
Speaker 2: to do, and you know it's just like yo, like

1395
01:04:56,240 --> 01:04:58,600
Speaker 2: you know, halfing my goshot out, my guy Jarill even

1396
01:04:58,640 --> 01:05:01,120
Speaker 2: on the squad, and it's just like, uh, the impact

1397
01:05:01,160 --> 01:05:04,480
Speaker 2: we've been able to do, you know, for other people's lives. Man,

1398
01:05:04,520 --> 01:05:07,560
Speaker 2: it's it's been it's been incredible, man. And share stages, right,

1399
01:05:07,600 --> 01:05:11,000
Speaker 2: you know, share stages with so many other financial literacy

1400
01:05:11,160 --> 01:05:13,880
Speaker 2: educators out here, and just see how genuine everybody is.

1401
01:05:13,920 --> 01:05:15,240
Speaker 2: Like every time we see each other, it's all love.

1402
01:05:15,240 --> 01:05:16,680
Speaker 2: We might not see each other for months, but it's

1403
01:05:16,680 --> 01:05:18,760
Speaker 2: always love, you know. So that's the dope part.

1404
01:05:19,080 --> 01:05:20,919
Speaker 6: So it's kind of like.

1405
01:05:23,000 --> 01:05:26,280
Speaker 4: Mentorship type program, yes, where you say you you start

1406
01:05:26,320 --> 01:05:28,960
Speaker 4: off and you teach them the basics of like buying

1407
01:05:29,040 --> 01:05:32,280
Speaker 4: mobile homes, individual mobile homes, and then scaling it to

1408
01:05:32,400 --> 01:05:33,960
Speaker 4: the point where they could potentially.

1409
01:05:33,600 --> 01:05:35,080
Speaker 6: Buy mobile home parks yep.

1410
01:05:35,240 --> 01:05:37,760
Speaker 4: And it's like a step by step process, yes, with

1411
01:05:37,960 --> 01:05:39,240
Speaker 4: like zoom calls things.

1412
01:05:39,040 --> 01:05:42,960
Speaker 2: That so yep, zoom calls. And then we actually we

1413
01:05:43,000 --> 01:05:45,280
Speaker 2: created a bus tour. We actually take them out to

1414
01:05:45,360 --> 01:05:48,240
Speaker 2: a community, so we'll be you know, a city that

1415
01:05:48,240 --> 01:05:50,480
Speaker 2: that we have a relationship with a community. We ain't

1416
01:05:50,480 --> 01:05:52,680
Speaker 2: took them into ours yet because it's been cold, so

1417
01:05:53,520 --> 01:05:54,960
Speaker 2: you know, we'll take them out there and we even

1418
01:05:54,960 --> 01:05:57,680
Speaker 2: give them opportunities. We've had students buy homes at the

1419
01:05:57,800 --> 01:05:59,520
Speaker 2: at the you know where we you know, the parks

1420
01:05:59,520 --> 01:06:01,400
Speaker 2: that we take them too, and it's just giving that

1421
01:06:01,520 --> 01:06:04,000
Speaker 2: hands on. But for us, it's big, like we want

1422
01:06:04,080 --> 01:06:05,800
Speaker 2: them to be able to touch us, right, We want them

1423
01:06:05,840 --> 01:06:07,800
Speaker 2: to be. It's not like we Hollywood like all right,

1424
01:06:07,880 --> 01:06:09,960
Speaker 2: y'all see y'all from a distance. It's more like, no,

1425
01:06:10,120 --> 01:06:11,680
Speaker 2: come on, we're gonna come and break bread with y'all,

1426
01:06:11,720 --> 01:06:14,160
Speaker 2: like come and sit down, asks us. We pick our

1427
01:06:14,200 --> 01:06:16,480
Speaker 2: brain like while you're there with us, Like everything that

1428
01:06:16,560 --> 01:06:18,479
Speaker 2: we have we're gonna pour into them, and then after

1429
01:06:18,520 --> 01:06:22,080
Speaker 2: that we bring on more and more people's skill, whether

1430
01:06:22,120 --> 01:06:24,520
Speaker 2: it's you know, a business credit, whether it's you know,

1431
01:06:24,640 --> 01:06:28,520
Speaker 2: mobile home on private land. Like it's we keep we

1432
01:06:28,560 --> 01:06:31,280
Speaker 2: continue pouring mobile homes into them, and we've been able

1433
01:06:31,320 --> 01:06:33,760
Speaker 2: to out of that. We've had some six figure earners.

1434
01:06:33,760 --> 01:06:36,040
Speaker 2: We've had you know, multiple five I mean just countless

1435
01:06:36,040 --> 01:06:38,280
Speaker 2: five figure earners. But and then for us, we want

1436
01:06:38,280 --> 01:06:40,680
Speaker 2: to build within so that this brand mobile home lead

1437
01:06:40,760 --> 01:06:42,880
Speaker 2: investors just it lasts for ever and it's bigger than

1438
01:06:42,920 --> 01:06:43,680
Speaker 2: just me and Sharnice.

1439
01:06:43,800 --> 01:06:46,440
Speaker 5: So do y'all y'all what So that was pretty keen.

1440
01:06:46,520 --> 01:06:48,640
Speaker 5: You said that a lot of some of the students

1441
01:06:48,720 --> 01:06:51,760
Speaker 5: actually get to purchase from your properties. Yes, but do

1442
01:06:51,800 --> 01:06:54,120
Speaker 5: you also make sure and go out to secure their

1443
01:06:54,120 --> 01:06:54,960
Speaker 5: first property as well?

1444
01:06:55,240 --> 01:06:57,480
Speaker 2: That's the goal, Like that's the really goal. Like it's

1445
01:06:57,640 --> 01:06:59,640
Speaker 2: so it's it's an intense program. Like Nicole, I love

1446
01:06:59,640 --> 01:07:01,600
Speaker 2: about it. Man, she a real coach, so she is

1447
01:07:01,680 --> 01:07:04,880
Speaker 2: OneD ay ass and because we care though, right, like,

1448
01:07:04,920 --> 01:07:06,560
Speaker 2: and that's the thing, like I would tell people like

1449
01:07:06,600 --> 01:07:09,480
Speaker 2: don't don't invest. Don't invest in this if you don't

1450
01:07:09,520 --> 01:07:11,520
Speaker 2: really see yourself doing it. If you want the information, cool,

1451
01:07:11,600 --> 01:07:14,200
Speaker 2: just watch all of YouTube, watch everything for free, right,

1452
01:07:14,200 --> 01:07:16,040
Speaker 2: but if you serious, that's why I want you to invest.

1453
01:07:16,080 --> 01:07:18,240
Speaker 2: I don't want your money if you just this is

1454
01:07:18,320 --> 01:07:21,680
Speaker 2: you know, just just something right. And so you know,

1455
01:07:21,720 --> 01:07:24,240
Speaker 2: it's it's we make sure that we put as much

1456
01:07:24,400 --> 01:07:25,760
Speaker 2: you know we can. I mean, like they say, you

1457
01:07:26,080 --> 01:07:28,000
Speaker 2: can lead a horse to water, which you can't make

1458
01:07:28,040 --> 01:07:29,640
Speaker 2: them drink. So we try our best to give them

1459
01:07:29,640 --> 01:07:31,280
Speaker 2: as much resources and we got to push the head

1460
01:07:31,280 --> 01:07:32,400
Speaker 2: in the water. That's what we're gonna do.

1461
01:07:33,680 --> 01:07:35,840
Speaker 4: Yeah, it's one of these things where it's like like

1462
01:07:35,880 --> 01:07:37,320
Speaker 4: I said, there's no college for it.

1463
01:07:37,320 --> 01:07:37,640
Speaker 6: There's no.

1464
01:07:39,840 --> 01:07:43,200
Speaker 4: Education that you can go to university. So you know,

1465
01:07:43,480 --> 01:07:47,360
Speaker 4: the online space has become universities, especially for these type

1466
01:07:47,400 --> 01:07:51,880
Speaker 4: of niche learning like trucking facts, mobile home investing, mobile

1467
01:07:51,920 --> 01:07:54,160
Speaker 4: home park buying, and like you said, I mean it's

1468
01:07:54,160 --> 01:07:56,600
Speaker 4: always free information as far as on YouTube and google

1469
01:07:56,640 --> 01:08:00,160
Speaker 4: things in nature. But when you're talking about mentorship and

1470
01:08:00,200 --> 01:08:03,880
Speaker 4: like more of a hands on situation, that's a lot different.

1471
01:08:04,280 --> 01:08:06,800
Speaker 4: So it's like you said, it's not for everybody fat,

1472
01:08:06,920 --> 01:08:09,080
Speaker 4: but for people that actually do want to take the

1473
01:08:09,080 --> 01:08:13,560
Speaker 4: next step. So with that being said, we're going to

1474
01:08:13,640 --> 01:08:16,200
Speaker 4: do something special for E y L and you know,

1475
01:08:16,360 --> 01:08:20,720
Speaker 4: always try to do something a little different. Yeah, and

1476
01:08:20,920 --> 01:08:23,280
Speaker 4: anybody that has an offering, we try to get like

1477
01:08:23,320 --> 01:08:27,200
Speaker 4: a special discount, and you guys have been willing to oblige,

1478
01:08:27,240 --> 01:08:30,000
Speaker 4: so we appreciate that. So it's actually two offerings. So

1479
01:08:30,479 --> 01:08:33,640
Speaker 4: the website is mobile homes with an s E y

1480
01:08:33,760 --> 01:08:37,880
Speaker 4: L dot com. And you have the regular course that

1481
01:08:37,920 --> 01:08:41,360
Speaker 4: you have that's like a self go as you go

1482
01:08:41,479 --> 01:08:44,280
Speaker 4: program where you know, it's just use videos and you

1483
01:08:44,360 --> 01:08:48,200
Speaker 4: just learn and that you're going to do a thousand dollars.

1484
01:08:48,040 --> 01:08:50,000
Speaker 6: Off right, it's appreciate that.

1485
01:08:50,320 --> 01:08:52,760
Speaker 4: And then the more advanced, more the mentorship that's the

1486
01:08:52,840 --> 01:08:56,120
Speaker 4: hands on that's where you actually get the zoom calls

1487
01:08:56,200 --> 01:08:59,240
Speaker 4: and actually go on the bus ride and get you know,

1488
01:08:59,320 --> 01:09:01,160
Speaker 4: be part of the can munity and actually like you know,

1489
01:09:01,360 --> 01:09:04,200
Speaker 4: actually go from the steps of buying your first home

1490
01:09:04,320 --> 01:09:07,080
Speaker 4: to you know, potentially buying your first mobile park and

1491
01:09:07,160 --> 01:09:10,120
Speaker 4: for that you're gonna do two thousand dollars off. Sure,

1492
01:09:10,520 --> 01:09:12,760
Speaker 4: so I appreciate that. So yeah, so you more the

1493
01:09:12,840 --> 01:09:16,439
Speaker 4: mobile homes ey l dot com and uh, you know,

1494
01:09:16,600 --> 01:09:20,440
Speaker 4: check it out if you're interested in furthering your education

1495
01:09:20,720 --> 01:09:22,800
Speaker 4: and taking it to the next level, because, like I said,

1496
01:09:22,800 --> 01:09:25,640
Speaker 4: I mean, I think this is something that is interesting.

1497
01:09:26,680 --> 01:09:29,439
Speaker 4: You know, the first time was very interesting as far

1498
01:09:29,479 --> 01:09:32,240
Speaker 4: as the mobile home within the mobile home park, and

1499
01:09:32,360 --> 01:09:33,719
Speaker 4: like I said, even the land.

1500
01:09:33,720 --> 01:09:35,240
Speaker 6: That's what really gets my attention, Like.

1501
01:09:35,240 --> 01:09:38,120
Speaker 4: The land, Like you literally in a position where you

1502
01:09:38,160 --> 01:09:42,360
Speaker 4: can actually purchase land, and that's that's everything. We're in

1503
01:09:42,400 --> 01:09:45,439
Speaker 4: the race for land in this world. Whoever owns the

1504
01:09:45,479 --> 01:09:47,280
Speaker 4: land owns owns everything.

1505
01:09:49,280 --> 01:09:49,800
Speaker 5: Very true.

1506
01:09:49,880 --> 01:09:52,880
Speaker 6: Yeah, so what's next? What's what's next for you guys? Yeah?

1507
01:09:52,960 --> 01:09:56,680
Speaker 2: Man, so you know, concentrating on the fund and you know,

1508
01:09:56,720 --> 01:10:00,439
Speaker 2: I think for us, continuing to cultivate our students. You know,

1509
01:10:00,520 --> 01:10:02,160
Speaker 2: I think that that's the biggest thing. Like we said

1510
01:10:02,160 --> 01:10:05,240
Speaker 2: that far as the brand. Charnice and I realize, you know,

1511
01:10:05,520 --> 01:10:09,439
Speaker 2: getting married July second of this year, right, so thank you,

1512
01:10:09,520 --> 01:10:09,880
Speaker 2: thank you.

1513
01:10:10,240 --> 01:10:14,840
Speaker 8: Right, you know, hopefully after that comes to families change.

1514
01:10:14,880 --> 01:10:16,960
Speaker 8: We can't be at the forefront all the time. So,

1515
01:10:17,000 --> 01:10:19,280
Speaker 8: like you said, that's why we're trying to build our

1516
01:10:19,320 --> 01:10:20,040
Speaker 8: students up.

1517
01:10:20,080 --> 01:10:21,760
Speaker 9: You know, started with the cold. We want to.

1518
01:10:21,760 --> 01:10:25,080
Speaker 8: Eventually have a full team of coaches across the country

1519
01:10:25,080 --> 01:10:27,400
Speaker 8: that are teach in mobile home investment in each market.

1520
01:10:27,760 --> 01:10:29,400
Speaker 9: So that's our biggest goal with that.

1521
01:10:30,040 --> 01:10:33,000
Speaker 6: It's gonna be fun, super fun.

1522
01:10:33,080 --> 01:10:33,280
Speaker 9: Man.

1523
01:10:34,080 --> 01:10:34,280
Speaker 6: Man.

1524
01:10:34,640 --> 01:10:36,960
Speaker 2: I always appreciate y'all. Man, it's always dope linking with

1525
01:10:37,000 --> 01:10:38,760
Speaker 2: you guys. Man, truly appreciate y'all.

1526
01:10:39,200 --> 01:10:40,360
Speaker 6: Our first event too.

1527
01:10:41,280 --> 01:10:47,080
Speaker 2: Sum when you were shot the sky in Wall Street traffic.

1528
01:10:47,200 --> 01:10:49,680
Speaker 4: Yeah, yeah, that was his first time speaking to like

1529
01:10:49,760 --> 01:10:50,519
Speaker 4: a group of people.

1530
01:10:51,080 --> 01:10:53,360
Speaker 2: That was crazy.

1531
01:10:54,800 --> 01:10:59,639
Speaker 6: A lot of firsts, a lot has changed since. Definitely

1532
01:11:00,640 --> 01:11:00,920
Speaker 6: proud of.

1533
01:11:00,920 --> 01:11:02,920
Speaker 9: You guys, for sure, Thank you so much.

1534
01:11:03,200 --> 01:11:05,960
Speaker 4: How can people staying in such like, what's the website,

1535
01:11:05,960 --> 01:11:07,759
Speaker 4: what's the social media handles?

1536
01:11:07,800 --> 01:11:08,360
Speaker 6: All that stuff?

1537
01:11:08,439 --> 01:11:11,200
Speaker 2: Yeah for sure, so definitely Instagram is one of our

1538
01:11:11,240 --> 01:11:15,200
Speaker 2: heavy sites at Mobile Home Elite Investors, same thing that's

1539
01:11:15,200 --> 01:11:18,360
Speaker 2: our Facebook at Mobile Home Elead Investors, the watches on YouTube.

1540
01:11:18,360 --> 01:11:21,040
Speaker 2: We got so much just free stuff out there. If

1541
01:11:21,040 --> 01:11:24,160
Speaker 2: you type in mobile home lead Investors or mh Elite

1542
01:11:24,160 --> 01:11:30,759
Speaker 2: Investors website, Mobile Home Elite Investors dot com. Man, that's everything, yep,

1543
01:11:31,720 --> 01:11:33,200
Speaker 2: anything you want to say, niece.

1544
01:11:34,280 --> 01:11:37,360
Speaker 8: Man, I just want to say thank y'all again for

1545
01:11:37,479 --> 01:11:41,000
Speaker 8: having us come back. Definitely appreciate y'all and for everybody watching.

1546
01:11:41,200 --> 01:11:44,639
Speaker 8: I to see y'all in the mobile home space, join

1547
01:11:44,760 --> 01:11:45,960
Speaker 8: us in the mobile home space.

1548
01:11:48,200 --> 01:11:50,080
Speaker 5: Yeah. Man, I just want to say personally, how proud

1549
01:11:50,120 --> 01:11:55,320
Speaker 5: of am y'all. Growth from bureau in twenty nineteen to

1550
01:11:55,439 --> 01:11:58,360
Speaker 5: ten thousand students is remarkable and it was one of

1551
01:11:58,360 --> 01:12:00,280
Speaker 5: those first success stories. Like you said, it was the

1552
01:12:00,320 --> 01:12:02,640
Speaker 5: biggest episode that we put out at the time. And

1553
01:12:02,720 --> 01:12:05,479
Speaker 5: we always like to say like the like the match

1554
01:12:05,560 --> 01:12:07,920
Speaker 5: was lit, but the y was poor. And y'all have

1555
01:12:07,960 --> 01:12:10,720
Speaker 5: definitely done that. So congratulations on that. And I know

1556
01:12:10,760 --> 01:12:13,880
Speaker 5: twenty twenty one, you know it wasn't the greatest year

1557
01:12:13,880 --> 01:12:16,519
Speaker 5: for you, but there's something that was missing and that

1558
01:12:16,560 --> 01:12:18,160
Speaker 5: was an EYL episode.

1559
01:12:19,720 --> 01:12:20,840
Speaker 2: Two times time.

1560
01:12:21,680 --> 01:12:23,840
Speaker 5: You know how this thing works. So shout first and foremost,

1561
01:12:23,880 --> 01:12:25,960
Speaker 5: and shout out to all the earners out there, all

1562
01:12:25,960 --> 01:12:27,560
Speaker 5: of y'all man across the world, not even just the

1563
01:12:27,640 --> 01:12:29,760
Speaker 5: United States. I want to say, all our global earned

1564
01:12:29,880 --> 01:12:32,320
Speaker 5: Shout out to all of y'all. Y'all have just been

1565
01:12:32,920 --> 01:12:35,120
Speaker 5: spreading the word of the euy L and the word

1566
01:12:35,160 --> 01:12:37,560
Speaker 5: of financial literacy. So thank you and thank you for

1567
01:12:37,600 --> 01:12:40,600
Speaker 5: all your support. Shout to all our patrons on Patreon,

1568
01:12:41,000 --> 01:12:42,840
Speaker 5: and shout out to everybody in the merged team. Shout

1569
01:12:42,840 --> 01:12:44,760
Speaker 5: out to all our people in EYL University. We got

1570
01:12:45,000 --> 01:12:46,880
Speaker 5: the team has grown, so we got a lot of

1571
01:12:46,920 --> 01:12:49,320
Speaker 5: people over there. We got some professors, so shout out

1572
01:12:49,320 --> 01:12:51,400
Speaker 5: to them, and yeah, keep rocking with us.

1573
01:12:51,840 --> 01:12:53,360
Speaker 6: Thank you guys for rocking with us. We'll see you

1574
01:12:53,360 --> 01:12:53,760
Speaker 6: next week.

1575
01:12:53,840 --> 01:13:01,920
Speaker 3: Peace my graduates from my school being forced bags drop

1576
01:13:02,800 --> 01:13:05,000
Speaker 3: drop bag, drop bag drops.

1577
01:13:15,840 --> 01:13:19,720
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