Speaker 1: Behind the delivery trucks that keep your life stocked. Thousands
Speaker 1: of employees at BP go to work every day. People
Speaker 1: bringing a new offshore production platform online. People making our
Speaker 1: refineries capable of more like making renewable diesel from agricultural waste.
Speaker 1: People trading and shipping fuels to our customers, and people
Speaker 1: helping truckers fill up and get maintenance at our convenient locations.
Speaker 1: They're part of almost three hundred thousand jobs VP supports
Speaker 1: across the country. Learn more at VP dot com. Slash
Speaker 1: investing in America.
Speaker 2: If I have the title and Sharnie says, hey, I
Speaker 2: can help you, I'll sell you. I mean I'll buy
Speaker 2: a home from you, right cool, And she's the highest bidder.
Speaker 2: Now she can go buy the home. She's a title owner,
Speaker 2: and she can go to RASHAA like, yo, I'm the
Speaker 2: title owner. So unless you're gonna give me thirty K
Speaker 2: for this house, I'm moving in. And Sean can be like,
Speaker 2: either I will pay you that or no? All right cool.
Speaker 2: Now she's taking that home Detroit. She own asset.
Speaker 3: My graduates from my school being forced.
Speaker 2: Bad and drop bag drop Mike, drop back drop drop.
Speaker 4: All right, guys, Welcome back, e y L. This is
Speaker 4: a reunion episode.
Speaker 5: Yeah, so.
Speaker 6: Sharnese and Byron.
Speaker 4: This is an interesting situation because the first episode actually
Speaker 4: happened like we didn't plan it. So I'll give you
Speaker 4: the backstory. About two and a half years ago, we
Speaker 4: did a networking event in Chicago and I think at
Speaker 4: the Bureau Bar Ye shot shot. So that was our
Speaker 4: first time. That was my first time ever in Chicago,
Speaker 4: our first time in Chicago as Ealsia, and it was
Speaker 4: a vibe the fact everybody came out show love and
Speaker 4: Byron actually had walked up to me, introduced himself and
Speaker 4: was telling me like what he does, and you know,
Speaker 4: it happens all the time, people doing all the time.
Speaker 4: We made it interesting is that it's something that I
Speaker 4: never really heard of with mobile home investing, and I
Speaker 4: never heard up until that point. I was calling it
Speaker 4: trailer so mobile home investing things. I'm like, all right,
Speaker 4: this is interesting. So we had some time and I'm like, yo,
Speaker 4: we should do this episode. I think I told Mike, like, Yo,
Speaker 4: I met these people they do mobile homes. That's like interesting, we.
Speaker 6: Should do this.
Speaker 4: They're like when you want to do it, like tomorrow,
Speaker 4: Like all right, well, sure, let's do it.
Speaker 5: So I think we spoke after that too. Yeah, they
Speaker 5: said we're gonna do what, we're gonna do it.
Speaker 4: So we actually did it and we didn't have like
Speaker 4: a studio, so we did it in their home.
Speaker 5: Mourn actually actually what we want to do, the Downing brothers,
Speaker 5: and we saw them like, yo, we we're gonna do this.
Speaker 5: We're gonna do it here to the house, all right,
Speaker 5: we don't know what like that.
Speaker 4: Yeah, yeah, so we went to the South Side. We
Speaker 4: got it done, and it actually turned out for a
Speaker 4: long time, it was the number one episode on YouTube
Speaker 4: definitely for a while. I'm still in the top ten.
Speaker 4: So it's one of these episodes that just caught wildfire
Speaker 4: number forty one for those not it's not playing, stop playing,
Speaker 4: right So but since then, you know, a lot has changed.
Speaker 4: So since then they got engaged.
Speaker 5: Congratulations on that.
Speaker 6: Number one.
Speaker 4: They moved on up from the south from the south
Speaker 4: Side to downtown. There's got a whole vibe downtown, driving
Speaker 4: range rovers, living, clipping the dream. But what also happened
Speaker 4: during that period of time, and this is the interesting part.
Speaker 4: So at the end of the episode, so when we
Speaker 4: first met them, they was investing in mobile homes, like
Speaker 4: individual mobile homes at the end of the ES so
Speaker 4: they said like their goal was just transitioning into buy
Speaker 4: a mobile home park, and now that's actually in reality
Speaker 4: and they actually own two mobile home parks right in fact,
Speaker 4: with two more mobile home parks under contract, with a
Speaker 4: total of one hundred and seventy three mobile homes. So
Speaker 4: I thought it would be a perfect time to have
Speaker 4: a follow up conversation with your plans on scaling for
Speaker 4: your personal business brand.
Speaker 2: And so we definitely want mobile home parks. So the
Speaker 2: larger goal with that is to get an acquisition where
Speaker 2: we find somebody who has a portfolio ten twenty mobile
Speaker 2: home parks just looking kind of just to retire, right,
Speaker 2: and then pretty much purchased that portfolio and just build
Speaker 2: from there and really open up the floodgates for more
Speaker 2: people to invest in mobile homes.
Speaker 4: And throughout that, you know, they have education, they've been
Speaker 4: teaching people on social media.
Speaker 6: So this is a dope before you go in, right.
Speaker 5: I remember like after that episode, yeah, I did like
Speaker 5: a free webinar and I was like, i'mna sign up
Speaker 5: for this, and I forgot that day and then I
Speaker 5: couldn't sign up for a free for the next.
Speaker 2: Three months of packed us out.
Speaker 6: It was crazy.
Speaker 2: Nothing was to say, nothing was to say that's the album.
Speaker 6: Nothing was the same.
Speaker 7: That was the original fact one. It was damn Alex
Speaker 7: trapped that a lot of people those two months. So, yes,
Speaker 7: this episode, I'm looking forward to it because it's the
Speaker 7: transition and now we're going to have the conversation of
Speaker 7: Mobile Home Park Invested.
Speaker 6: So first and foremost, welcome.
Speaker 2: Back, man, Thank you all for having us.
Speaker 5: Yeah, I'm like, you know what the bath.
Speaker 2: We're in the Mecca right now, see.
Speaker 5: Each other so many times.
Speaker 4: Yeah, yeah, this this is the where it all started
Speaker 4: for us.
Speaker 6: Up now we so all right, so let's get into
Speaker 6: this conversation.
Speaker 4: So how you said you was going to do it,
Speaker 4: but how did you actually get into Mobile Home Park Investing?
Speaker 6: Yeah?
Speaker 2: Man, so it was dope to declare, you know, on
Speaker 2: the episode, but you know, after that, it was a
Speaker 2: huge influx, right, We had a lot of people hitting
Speaker 2: us up and actually our partner had reached out to
Speaker 2: us like, yo, you know I saw the episode. You know,
Speaker 2: you guys knew what you were talking about. I have
Speaker 2: some communities in Indiana if you want some houses, you know,
Speaker 2: come out and take a look. One took a look.
Speaker 2: The deal didn't really work. He's gonna get me nineteen
Speaker 2: free houses. I couldn't find anybody to do the work
Speaker 2: out there, so I'm like, yo, man, but I'm interested
Speaker 2: in getting the space.
Speaker 8: Man.
Speaker 2: So you come across a deal like, man, we you know,
Speaker 2: we game because I was looking, but I kind of
Speaker 2: needed that guidance as well. And so sure enough that
Speaker 2: email came across, like y'all got this fifty one unit.
Speaker 2: You know, I'm looking for a few partners fifty thousand buying,
Speaker 2: Like say, let's like, let's go ahead and get in
Speaker 2: and jump right onto this. And man, shout out our
Speaker 2: partner Charlie. Man end up quarterbacking that deal, and we
Speaker 2: got a first hand to see how everything was done
Speaker 2: so we can learn the process. But again, shout out
Speaker 2: to y'all, you know, for being a connect on that
Speaker 2: because you know, he saw us, you know, from ey
Speaker 2: L and trusted us, and man, that's how we end
Speaker 2: up making that first one happen.
Speaker 5: So you got fifty thousand dollars for fifty one homes.
Speaker 2: So he originally initially raised three fifty The park. We
Speaker 2: got that that part sorry, the purchase price for one
Speaker 2: point one so we had to raise thirty percent of
Speaker 2: that put up the three hundred and fifty k. So
Speaker 2: we was parked, you know, partially investors on that and yeah, man,
Speaker 2: we ended up locking it down. We went that's the
Speaker 2: video we actually have on YouTube. We went to go
Speaker 2: see the park and man, it was it was just
Speaker 2: it was special saying that. You know what we really said,
Speaker 2: you know what was gonna happen is that?
Speaker 5: So that's that's the video when you're walking through and
Speaker 5: people don't know.
Speaker 6: Like y'all do.
Speaker 5: Yeah, yeah, crazy, yeah, yeah gotcha?
Speaker 6: Yeah So what all right?
Speaker 4: So walk me through that process and fine, mobile home Like,
Speaker 4: how much did it cost?
Speaker 6: Again? Mobile park?
Speaker 2: So that's mobile home park was one point one million?
Speaker 6: So how'd you get the financing?
Speaker 2: So we used a small community bank. So that park
Speaker 2: is actually in Greensburg, PA. And that's one thing if
Speaker 2: you look at for mobile home parks, you either want
Speaker 2: to go to a credit union or a credit union
Speaker 2: or a small local bank because they're more they're more
Speaker 2: willing to finance a smaller deal, right, and also there's
Speaker 2: more lenders that come out now so we end up
Speaker 2: locking up the finance and again thirty percent down. A
Speaker 2: few of us put up, you know, fifty k apiece
Speaker 2: and that's how we end up locking that one down.
Speaker 5: So the Indiana deal didn't work because you didn't have
Speaker 5: anybody to I guess refurbish the properties, correct, yea. So
Speaker 5: like when y'all got this one, it was like, all right,
Speaker 5: number one, was there a lot of work that had
Speaker 5: to be done? And if so, like did you have
Speaker 5: a team on the ground or do the partner's going
Speaker 5: to get how that work?
Speaker 6: Yeah?
Speaker 2: So the beautiful thing about buying a mobile home park
Speaker 2: were always looking for It's like buying a business. So
Speaker 2: it had intricate pieces, it had already a team of
Speaker 2: repair and on site. They had a park managing in place,
Speaker 2: so they had equipment. So for us going in, we
Speaker 2: just add value. So the biggest thing we had to
Speaker 2: do is feel the empty homes, right, feel or feel
Speaker 2: the empty pads which are empty lots with no homes
Speaker 2: on it. So that was part of part of when
Speaker 2: we got the actual financing forward. We wanted to go
Speaker 2: ahead and have enough cash so that way we can
Speaker 2: put new homes on there as well.
Speaker 5: So that the property actually has space for you to
Speaker 5: add to it.
Speaker 6: Yeah.
Speaker 5: Perfect. Now you said that there's a couple of roles
Speaker 5: that you need to have in the park. Can we
Speaker 5: run down again, So like a property manager, I assume
Speaker 5: what other roles that we need to have With buying
Speaker 5: an entire park, for.
Speaker 8: Sure, I would say with buying a park, you definitely
Speaker 8: so you definitely want to have your park managing place.
Speaker 8: But to take a step back, before going through the
Speaker 8: process of actually purchasing a mobile home park, you definitely
Speaker 8: want to have a great CPA. You want to have
Speaker 8: a great attorney who understands commercial real estate but really
Speaker 8: excusing an attorney who has done mobile home parks and
Speaker 8: who have has worked with investors who have purchased land.
Speaker 8: So you want to have that. And then you want
Speaker 8: to have a great wholesaler who can do the proper
Speaker 8: due diligence. So before let's just say, if I'm looking online, right,
Speaker 8: so I'm gonna drop a few sources with people who
Speaker 8: want to just source where they can find mobile home
Speaker 8: parks available. One website is mobile home parkstore dot com.
Speaker 8: It's a great website where you can go and just
Speaker 8: source any type of parks that's available. So nine times
Speaker 8: out of ten, who's listing the parks on there is
Speaker 8: the brokers. So the beautiful thing about brokers is that
Speaker 8: once you build that relationship and you communicate with them,
Speaker 8: they'll have access to what we call pocket listing. So
Speaker 8: pocket listings, we know it's off market deals, so they'll
Speaker 8: have even some off market deals or parks that may
Speaker 8: not even be listed online. So that's another way just
Speaker 8: kind of source some deal, sayce again not listed. So
Speaker 8: once you say once you see, excuse me, a park
Speaker 8: that you're interested in, the first step is due diligence.
Speaker 8: You want to get in contact with the municipality, so
Speaker 8: the county records department make sure that the land is
Speaker 8: zoned for mobile homes, so you want to make sure
Speaker 8: that is properly zoned.
Speaker 9: You want to make sure that there's no cold violations.
Speaker 9: Same thing.
Speaker 8: You want to contact your county health department to come
Speaker 8: out and assess the water. You want to make sure
Speaker 8: that the water has no cold violations as well. So
Speaker 8: that's just kind of like the back end of the
Speaker 8: due diligence that's needed before you even looking to purchase
Speaker 8: in a mobile home community.
Speaker 5: All the things we're not thinking.
Speaker 9: Of, right, right, right?
Speaker 6: So then did you sell that?
Speaker 2: Yes, so we end up selling that park. We got
Speaker 2: it in July of twenty twenty, We ended up selling
Speaker 2: that one. In November of twenty twenty one, we end
Speaker 2: up selling it. So we end up selling it for
Speaker 2: two point three million.
Speaker 4: So you purchased it for one one million, you sold
Speaker 4: it foot two point three yep, so you you made
Speaker 4: a one point three dollar profit.
Speaker 6: Yes, So how did that happen? Why did it appreciate
Speaker 6: so much?
Speaker 2: So after the pandemic. What happened was the mobile home
Speaker 2: park space was one of the best asset classes in
Speaker 2: real estate is far collecting full rent roll because it's
Speaker 2: affordable housing. So people were still paying their you know,
Speaker 2: paying their rent and so it made it very attractive,
Speaker 2: very attractive. So now you saw larger players, the Blackstones,
Speaker 2: the Northwestern Mutuals, these large institutions I started to come
Speaker 2: into the play like whoa hold on? Like these cash
Speaker 2: flowing these some decent assets. So now larger players. So
Speaker 2: now you have you know, investors like us and you
Speaker 2: know other investors like uh, oh, hold on, I think
Speaker 2: we could put up we could put it on top
Speaker 2: dollar now because even still to this day right now,
Speaker 2: like mobile home parks, it just the prices went up,
Speaker 2: you know, fifty one hundred percent just because of the
Speaker 2: cash flow, and so you know, just with that, it
Speaker 2: was just a hot time to sell, and we ended
Speaker 2: up putting on the market and we actually had some
Speaker 2: issues kind of getting houses filled, you know, with the
Speaker 2: whole you know, the rent momatorium and things like that.
Speaker 2: We have few tenants not paying and things, but we
Speaker 2: were still you talking about able to double our profit.
Speaker 5: That's crazy.
Speaker 6: Is there Section eight tennis? Then?
Speaker 2: So not in our particular park. So there's very rare
Speaker 2: that you're gonna find Section eight tennis. And the reason
Speaker 2: why is because more so there Section eight is more
Speaker 2: geared to for apartments. All right, so when it comes
Speaker 2: to mobile homes, you have some very some but we
Speaker 2: really the only affordable housing sector that you don't necessarily
Speaker 2: need Section eight that you can afford. So we don't
Speaker 2: really get too much help from the government and things
Speaker 2: like that. Now I knew Ben Carson was actually talking
Speaker 2: about when the administration was in he wanted to put
Speaker 2: manufactured homes to allow that, you know, because people can
Speaker 2: pay off the homes and then the government will pretty
Speaker 2: much save money. But that didn't get passed, so we're
Speaker 2: still hoping that this administration looking to it.
Speaker 5: So when y'all bought the mobile homes, we talked about
Speaker 5: insurance obviously because it was not really like a house, right, right,
Speaker 5: A do the same rules apply when we're talking about
Speaker 5: a park? Are we like, how do we ensure that?
Speaker 5: What's like, what's the taxes on?
Speaker 6: As?
Speaker 5: Is it the similar situation if we're buying individual mobile homes?
Speaker 2: No, So the taxes. What I love about the taxes
Speaker 2: especially depends that most parks are in rural America, right,
Speaker 2: So the taxes are cheap. I think on our particular park,
Speaker 2: our taxes less than seventy thousand dollars right on that
Speaker 2: asset for the year. And so the people pay personal
Speaker 2: property taxes, so if whoever owns, they don't necessarily have
Speaker 2: to pay the land tax. We pay the land tax.
Speaker 2: But again you're talking about less than seven thousand dollars
Speaker 2: for over five acres, right, So, so again it's a
Speaker 2: it's a definitely a great way to save taxes. And
Speaker 2: then you talk about insurance. Normally for us we also
Speaker 2: we do pay insurance, right but for each individual home.
Speaker 2: We make sure our tenants have insurance on you know,
Speaker 2: that their mobile home is covered as well.
Speaker 6: So as a mobile home park owner, do you own
Speaker 6: every home?
Speaker 2: So for us, the goal is not to right, you
Speaker 2: have some mobile home park owners that do. But the
Speaker 2: reason for us we want to have our tenants to
Speaker 2: own their homes because what it helps us to do
Speaker 2: we just own the land. We're leasing the dirt.
Speaker 4: So okay, that's interesting. So the one point one was
Speaker 4: just for land.
Speaker 2: With homes included. Yeah, so you did own the home,
Speaker 2: so we did, and then what we know. So what
Speaker 2: we do from there is that's when we go in
Speaker 2: and we pretty much create seller finance and so we
Speaker 2: can come and say, hey, listen, you know what we see.
Speaker 2: You've been renting from us. Let us let us help
Speaker 2: you own your own asset now. Right, So now we
Speaker 2: can help them, you know again, they'll have it, can
Speaker 2: put them on a monthly term. They own their home,
Speaker 2: they have their title and so now again they just
Speaker 2: paid for the lot rent, which is what they paid
Speaker 2: for like the amenities of the park. And the reason
Speaker 2: why we do that is, for one, the responsibility because
Speaker 2: the more homes we own, if anything, goes wrong, then
Speaker 2: my maintenance men have to go to each individual house
Speaker 2: to fix. But as a homeowner, they gonna take more
Speaker 2: pride into their house. They're more likely not to tear
Speaker 2: it up less. And then the beautiful thing about it
Speaker 2: when it's when we want to sell. Now they're able
Speaker 2: to get bank financing because a bank is more inclined
Speaker 2: to loan to more tenant own homes than versus park
Speaker 2: owned homes because it's basically a less risk.
Speaker 4: So how many homes was on that fifty You owned
Speaker 4: all fifty one homes at the beginning.
Speaker 2: Of it, no Ah Man, So I think the one
Speaker 2: I don't know how to accurate number, but I think
Speaker 2: it was less than fifteen homes. I know that was
Speaker 2: actually yeah, we.
Speaker 4: Want and then you sold them back to the owner
Speaker 4: to people that was ranm yep. And when you so
Speaker 4: when you sold it, they didn't get any homes with
Speaker 4: the person that brought it for.
Speaker 5: You do it all without breaking the sweat, like being
Speaker 5: a boss. Exec to Tuesday tennis, to homework and why
Speaker 5: did they give the kids so much homework? Family dinners, lunches, brunches,
Speaker 5: trips to the vet, and a weekend getaway that's anything
Speaker 5: but a getaway, and you do it all in style,
Speaker 5: even when you have back to back conference calls on
Speaker 5: top of the kids, AAU games, and not to mention
Speaker 5: your side hustle. And that's why they created the fully
Speaker 5: reimagined Infinity QX sixty, a luxury suv as functional as
Speaker 5: it is stylish and as versatile as it is serene,
Speaker 5: with premium features like a panoramic moon roof, ample cargo space,
Speaker 5: and available massaging front seats to bring the ease of
Speaker 5: luxury to your every day Introducing the all new Infinity
Speaker 5: QX sixty, designed to help you take on life and
Speaker 5: all the chaos that may come with in style. Learn
Speaker 5: more at INFINITYUSA dot com. Now with extremely limited availability,
Speaker 5: contact your local retailer for inventory information so.
Speaker 2: You technically do so. When you buy a mobile home community,
Speaker 2: right like, the guarantee is, hey, I'm binding with these homes.
Speaker 2: That's gonna pay us this land fee nine times out
Speaker 2: ten with the community, the good people not trying to
Speaker 2: move their mobile home out of there. You don't want
Speaker 2: I don't want to. I don't like saying, because they
Speaker 2: can't afford to move their home out of there. Because
Speaker 2: sometimes that is the case. But if the community is good,
Speaker 2: they want to stay there. So you technically, for example,
Speaker 2: you're looking it will say like a seventy one pack community, right,
Speaker 2: even though the homes may be still tending ONWN. It's
Speaker 2: just you know that those is that is the lot
Speaker 2: rent that's coming in.
Speaker 5: So that was the deal. That was one deal, but
Speaker 5: it is the team situation going on. So while you're
Speaker 5: closing that deal, I know you had a couple more
Speaker 5: parks in twenty twenty, right, so like what was that process,
Speaker 5: like the search process? How are we getting financing to
Speaker 5: get all these? Right? Because I think it was how
Speaker 5: many we got in twenty twenty.
Speaker 2: Four it was fo Yeah.
Speaker 8: So the cool thing is that our one partner, he Quarterback,
Speaker 8: that those deal as well. So the first park that
Speaker 8: barn has been talking about that was one park. And
Speaker 8: then he hit us back up a few months later
Speaker 8: and was like, hey, I have a three park deal.
Speaker 8: You know, same situation. He's going to quarterback. He has
Speaker 8: a team involved as well. He hit us like, hey,
Speaker 8: you know same buy in fifty k he hit us,
Speaker 8: So we had the money.
Speaker 9: That's just kind of how that happened.
Speaker 2: And then you sold one of those though, right, yeah,
Speaker 2: so that I love that deal. So that deal. So
Speaker 2: those three parks we got for one point eight, all
Speaker 2: three of them, all three for one point eight Greensburg, PA.
Speaker 2: So right around the Pittsburgh area, all three. So one
Speaker 2: of the parks we just actually sold again after we
Speaker 2: sold via Vista View. We sold it for three point five,
Speaker 2: so that one park paid for all. So now we
Speaker 2: just own two other parks free clear and it's just
Speaker 2: we just building up equity on those.
Speaker 5: How many units in ease runs? We said, visit you,
Speaker 5: I'm thinking of white man can't jump, So Sydney Dean
Speaker 5: lived for those none now, but how many? How many?
Speaker 5: How many lots in this and the other two? Was
Speaker 5: it like fifty another fifty or seventy forty eight?
Speaker 9: And then what was the other?
Speaker 2: It was forty eight, and say it was fifty and
Speaker 2: fifty because we had one seventy two left calculated with
Speaker 2: my phone over there.
Speaker 5: Since they, I mean you invested in a similar area,
Speaker 5: does that obviously make it easier for you now to
Speaker 5: just check on everything. Some people might hear an episode,
Speaker 5: they probably hurt your episode, Like, yo, there's something that
Speaker 5: happened in Virginia. There's mobile hole parks in Virginia and
Speaker 5: I live in Chicago, right, I mean I don't know
Speaker 5: if that may be the best investment, right because I
Speaker 5: mean I gotta get to this place just it is
Speaker 5: an issue.
Speaker 2: Yeah. So the cool thing our partner Charlie actually moved
Speaker 2: out too. He was in the back and he moved
Speaker 2: out to Pittsburgh. Like, Yo, you know what, I could
Speaker 2: be closer, I could be hands on. So that's the
Speaker 2: cool thing about it. And like to your point, the
Speaker 2: best thing is to we tell people starting that should
Speaker 2: be become a passive investor. That's what we did. We
Speaker 2: became a passive investors because the owner operator you do
Speaker 2: have more responsibility, you are more hands on, and if
Speaker 2: you don't have the experience. We see a lot of
Speaker 2: owner ops kind of coming to this business and fail
Speaker 2: because it's like, oh, yeah, I got a park. Yo,
Speaker 2: I'm getting all these units for this lower price, and
Speaker 2: now I don't have the resources. What do I go next.
Speaker 2: I don't have the people that repair, I don't have
Speaker 2: all these different things. So a lot of them kind
Speaker 2: of they don't know the homes.
Speaker 4: The homes so okay, so but after that you went
Speaker 4: on like a dry spell for a little bit, right,
Speaker 4: trying to buy parks.
Speaker 6: So what happened with that?
Speaker 2: Yeah, So for myself, I'm like, you know what, this is, dope,
Speaker 2: we got him this year. I went on Sham's podcast
Speaker 2: like I'm getting ten this year, declared it. And when
Speaker 2: I tell you, every offer I was outbid or it
Speaker 2: just didn't work. You know that I were doing conducting
Speaker 2: due diligence and it just didn't line up. And it
Speaker 2: was a top of year, you know. Prior wise, I'm like, man,
Speaker 2: I said I was gonna get ten, and each month,
Speaker 2: each quarter, I'm saying, I'm just like yo, like one
Speaker 2: and I'm just like, man, this is.
Speaker 9: Just flying out a lot.
Speaker 8: I remember back and forth down to Atlanta, different parts
Speaker 8: of Georgia looking at parks. We looked at a few
Speaker 8: in North Carolina. But the thing too, is that some
Speaker 8: of the parks that we would see via online when
Speaker 8: we got in person.
Speaker 9: Were like, whoa, it's way more maintenance.
Speaker 8: It's going to be needed, you know, done on this
Speaker 8: land versus what the pictures look like. So that was
Speaker 8: another reason that I felt like it kind of held
Speaker 8: us back a little bit.
Speaker 5: Yeah. So I mean That's good that you said that,
Speaker 5: because when you see the properties and you're like, damn,
Speaker 5: all right, it's gonna be more than I thought. How
Speaker 5: much reserves do you need? Like when you're getting a park, right,
Speaker 5: because people say like, oh we can get in the deal, yeah,
Speaker 5: fifty to get into it, but like, yeah, we might
Speaker 5: need some money for these renovations and we might have
Speaker 5: to need money to pay salaries for the blocky man's
Speaker 5: all these people that are that be part of this
Speaker 5: this this union. Now, like what's that like?
Speaker 2: So the key thing, you know, like you said, leading
Speaker 2: those reserves, you know, depends on what type of funding
Speaker 2: you need they do. That's why the due diligence is
Speaker 2: so important, right, we want to see what's all every
Speaker 2: worst case scenario that can happen. Right, A lot of
Speaker 2: times it comes to you know, you see a lot
Speaker 2: of older, older sower systems, or they may be on
Speaker 2: a septic or well water, and so you definitely want
Speaker 2: to budget, you know, for those problems. So again, when
Speaker 2: a reserve, it really depends on how many units. So
Speaker 2: I say, I got I'm looking for a twenty five unit, right,
Speaker 2: and hype, let's say twenty five unit it's gonna cost
Speaker 2: me seven hundred and fifty k. So depending on if
Speaker 2: I know, you know the septic well, I know I
Speaker 2: want I want a few new houses. I get the
Speaker 2: houses finance. But now I may try to raise you know,
Speaker 2: another one hundred and fifty k, just like you said,
Speaker 2: just to have those for those reserves and then normally salaries.
Speaker 2: What we want to do is, like I said, a
Speaker 2: mobile home park. We look at it like this, I'm
Speaker 2: buying a business. So if it's already cash on and
Speaker 2: it's already paying out, either a am I cutting costs
Speaker 2: or you know? Or would I add value and bring
Speaker 2: on more people to the team.
Speaker 5: I feel like the property manager becomes like.
Speaker 2: The LRA pretty much. Yeah, you look for free chiefs
Speaker 2: a psychologists.
Speaker 6: So talk about the land fee, so you'll talk about that.
Speaker 2: Yeah, So you know the average lot rent in America
Speaker 2: is three seventy five.
Speaker 4: Right, and yep, the lot rent is that's how much
Speaker 4: they're paying just to mark their their hoble home.
Speaker 5: Yep.
Speaker 2: Yeah, so similar to hoa right, just like a condo townhome.
Speaker 2: And so the cool thing about ours and PA, all
Speaker 2: of ours were four twenty five and up and it's
Speaker 2: all about location, right. It's you can have for example,
Speaker 2: like in New York, we've had students that we've seen
Speaker 2: that their lot rents are like seven twenty five, you know,
Speaker 2: seven fifth, I mean just up and high where it's California,
Speaker 2: San Diego, maybe twelve hundred dollars. Illinois we see around
Speaker 2: like the five fifty six hundred range. So the purpose
Speaker 2: of that again, like you said, parking making sure that
Speaker 2: they're mobile home they're leasing. But it comes with, for example,
Speaker 2: so we're in a cold of climate. We know we
Speaker 2: got snow removal, right, it could be trash, it could
Speaker 2: be amenities like for example, yeah, right, and then you
Speaker 2: know for the for profit as well, you know, for
Speaker 2: for us as the park owner. But normally what we're
Speaker 2: starting to see though, this is one thing I can
Speaker 2: say I don't really like about the industry some people.
Speaker 2: So let's say you know, LEAs your bids and mobile
Speaker 2: home community and the current lot rent is two seventy five,
Speaker 2: and you're like, you know what, we want to come
Speaker 2: in and kind of get you know, get it up.
Speaker 2: But you guys come in and raise it and be
Speaker 2: all right, next year is gonna be three seventy five
Speaker 2: so it raised aboute hundred dollars. So now that kind
Speaker 2: of affects you know, your people coming in even though
Speaker 2: you know you're gonna add value. So one thing I like,
Speaker 2: I like when I see, like even what else we
Speaker 2: make small increases maybe anywhere from you know, ten, ten
Speaker 2: to twenty five dollars on the high end, and then
Speaker 2: that way over time they see the value. But when
Speaker 2: you come in and just say, hey, you know what,
Speaker 2: we're gonna raise it one hundred bucks, it's like, yo,
Speaker 2: like this, I can't afford this right now. And now
Speaker 2: you see people almost like they parts of getting gentrified.
Speaker 5: It's like the yo, it's under new management. Yeah. Fact,
Speaker 5: so you said by state, right, Like depending on the state,
Speaker 5: that fee can go up. So if I'm starting right obviously,
Speaker 5: if I've done the mobile homes and I've done that
Speaker 5: and I'm a passive investor, if I'm looking to raise much,
Speaker 5: do I start in the state that is known for
Speaker 5: starting in California with the prices a lot higher, or
Speaker 5: I start in New York where you said it could
Speaker 5: be like seven twenty five, Or do I say, you
Speaker 5: know what, let me grow to that. I'll start in
Speaker 5: the Indiana like a id On or something like that,
Speaker 5: so disrespect to those states.
Speaker 8: So for me, if I was looking to get into
Speaker 8: a park, and if I do live in a market
Speaker 8: that I know is a little bit higher, I would
Speaker 8: start in like a Georgia or North Carolina kind of
Speaker 8: like the southern states you'll see like that cheaper libry
Speaker 8: or like you said, Indiana, or even like some parts
Speaker 8: of Illinois. But like southern Illinois you'll see like the
Speaker 8: three seventy five and the four hundred.
Speaker 9: But again you got to go out.
Speaker 8: To rural America in order to see those prices.
Speaker 4: So let's talk about like some issues that you might
Speaker 4: have as far as owning a park, repairs and maintenance,
Speaker 4: what's the what's the deal with that?
Speaker 6: Has that work?
Speaker 2: So roads?
Speaker 6: Right?
Speaker 2: Depending on how old something you come on some of
Speaker 2: these parks is you know just gravel, uh even some
Speaker 2: not even just no pave, no nothing right, just just dirt,
Speaker 2: So you can have issues with that definitely. You know, plumbing,
Speaker 2: if you if you're buying a park with that has
Speaker 2: you know, septic or well water, you know, you always
Speaker 2: have to make sure that water is tested and make
Speaker 2: sure you know, because again you would hate to your
Speaker 2: water is tamper. Now your tenants without water.
Speaker 6: Talk about that the test the water being tested.
Speaker 2: Yeah, so with uh, with well water, it has to
Speaker 2: meet definitely for the county, it has to meet a
Speaker 2: certain grade. Right, And so you know, again if you
Speaker 2: if you're not if you're not maintenance and that you know,
Speaker 2: when it's supposed to be maintenance and things like that,
Speaker 2: that water can get tamper and you know, that's that's
Speaker 2: one of the worst that's the one of the worst
Speaker 2: case scenarios.
Speaker 6: You know.
Speaker 2: Imagine you have a community and they out of water, right,
Speaker 2: and so you know that's the issue. Same thing with
Speaker 2: septic that can get backed up. So that we so
Speaker 2: we always try to look for right, that's a bad thing, right,
Speaker 2: and so we try to look for parks that come
Speaker 2: with city water and city water and city sewer because
Speaker 2: now we know the city has our back. So some
Speaker 2: comes out that's the city's responsibility versus us as owners.
Speaker 2: Now you know, we have to try to go in
Speaker 2: and get this septic and will I think other problems tenants,
Speaker 2: you know, I mean, you know, I think I remember
Speaker 2: you saying the first it was like yo, like ozark, right,
Speaker 2: and then you do you do have communities like that, right?
Speaker 2: You do have communities that you know it's a trip
Speaker 2: house or a meth house, you know, and it can
Speaker 2: kind of corrupt the neighborhood. You could have some bad
Speaker 2: tenants in there that you know that just cause a
Speaker 2: lot of trouble. And then you can think of baby
Speaker 2: and then I would say the houses.
Speaker 8: I think what happens to is a lot of you know, investors,
Speaker 8: They purchase these large communities where you may have a
Speaker 8: seventy five pad and fifty of the lots or field,
Speaker 8: but now you have twenty five homes that need renovations.
Speaker 8: And if you don't understand how to renovate the home
Speaker 8: and just the process of buying and selling the individual
Speaker 8: mobile home, that's a maintenance within itself as well. So
Speaker 8: that's why we see a lot of park owners like
Speaker 8: shy away from investors where us being you know, started
Speaker 8: out investing in individual homes. We see the value of
Speaker 8: allowing our students, allowing investors in our park to come
Speaker 8: and actually renovate the house, and then allowing them to
Speaker 8: buy and flip it or they can put them on payments.
Speaker 8: They go ahead and get their profit, and then we
Speaker 8: still collect our land feed a lot.
Speaker 5: Rent I had like two questions in it. That was
Speaker 5: a lot. Topography is something that you know I've done before,
Speaker 5: very expensive, right for those none you know, it's like
Speaker 5: when you have to test the soil, which for you
Speaker 5: it means everything. Yes, if your land is sinking, that's
Speaker 5: an interesting that have you encountered that? Is that something
Speaker 5: that you guys do when you're doing a duels.
Speaker 2: Well, yes, so that is something we do now we
Speaker 2: haven't encounter it. And and now most states what they
Speaker 2: require is you have to have a certain amount of cement.
Speaker 2: So most so cooling my mobile homes again since their
Speaker 2: mobile when they're when they are you know, I'm wanna
Speaker 2: say bus, but when they are transported, but they transported
Speaker 2: in right. Normally, each each unit has a concrete slab
Speaker 2: and that concrete slab is just you know for stability
Speaker 2: for the home. So again, so you won't have the sinking.
Speaker 2: So the thing you know now is a requirement because
Speaker 2: that what was happening. You have homes. You can go
Speaker 2: into the park and you can see they uneven, they
Speaker 2: kind of top of because like you said, because of
Speaker 2: what's selling. So that is definitely part of the due diligence,
Speaker 2: you do have to test the soil.
Speaker 5: Donna play around the second part of it was like,
Speaker 5: as far as having tenants that might cause issues in it,
Speaker 5: what is the eviction process like in the mobile hole setting?
Speaker 5: Like we know different states having for apartments and you
Speaker 5: know condos, but what is it like for the mobile
Speaker 5: home parks?
Speaker 2: So very similar, very similar, you know when it comes
Speaker 2: to eviction. You know, I will say, we've seen, we've now.
Speaker 2: The difference is they can file earlier. It states like
Speaker 2: Louisiana where they can file if you're behind ten days,
Speaker 2: they can get the process started. And there's a lot
Speaker 2: of states like that. When we first came, it was
Speaker 2: like man, who regulating this?
Speaker 6: Right?
Speaker 2: Like how does this allowed? But you see it as
Speaker 2: almost you know, anywhere from ten to thirty days where
Speaker 2: they can get that process started.
Speaker 4: So, like, what's the cash flow that you're looking for?
Speaker 4: Like on average, I know it depends, but is it
Speaker 4: a play for appreciation or is it a play for
Speaker 4: cash flow?
Speaker 2: Both? So cash flow you coming in for us, you know,
Speaker 2: we like anything that's at least eight thousand dollars cash
Speaker 2: flow because we know we can go add value if
Speaker 2: it's empty houses. We know we can get that cash
Speaker 2: flow up to anywhere from ten to twelve. For example,
Speaker 2: our our first one that we sold, that cash flow
Speaker 2: we had when we purchased it. That cash flow it
Speaker 2: was right at eleven. We getting up getting up to
Speaker 2: seventeen thousand a month.
Speaker 6: That's for the park. For the park, yep, so seven
Speaker 6: seventeen thousand net.
Speaker 2: Yeah, seventeen thousand net.
Speaker 6: Okay, And you said, what was it before?
Speaker 2: It was eleven?
Speaker 6: So what made you How did that increase the seventeen thousand?
Speaker 2: So for we did increase the lot rent. We were
Speaker 2: able to feel the empty paths that we had as
Speaker 2: well as he had. No, that was actually that was
Speaker 2: the first two because I'm thinking about the other park
Speaker 2: where it ended up adding value, like the Vendom machines
Speaker 2: and stuff.
Speaker 8: Once you feel the empty houses and you get either
Speaker 8: attended buyer, you get somebody else in there that kind
Speaker 8: of makes up for the missing lot rent that you're
Speaker 8: originally not getting in by having those paths empty.
Speaker 5: You said something about Vendam machines. What's going on? Earnest?
Speaker 5: Look at twenty six, I made one of the most
Speaker 5: important decisions of my life. That's right. I didn't have
Speaker 5: family at the time, but I did have a life
Speaker 5: insurance policy. A wise man told me life insurance isn't
Speaker 5: about the people who die, It's about the people who live.
Speaker 5: It's one of the best ways to secure generational wealth
Speaker 5: for your family's future, and it makes perfect sense why
Speaker 5: people get life insurance, especially term coverage, which surprisingly is affordable.
Speaker 5: Why not pay a little bit each month to secure
Speaker 5: the future of the people you love long term. If
Speaker 5: you're asking yourself that question, I want you to check
Speaker 5: out Ladder. Ladder makes it impressively fast and easy to
Speaker 5: get coverage. You just need a few minutes and a
Speaker 5: phone or a laptop to apply. Ladder's algorithms work instantly,
Speaker 5: so you'll know right away if you're approved for coverage.
Speaker 5: No hidden fees, and you can cancel any time. And
Speaker 5: since life insurance costs more as you age, now is
Speaker 5: the time to get started. So check out Ladder to
Speaker 5: day to see if you're instantly approved. Go to Ladder
Speaker 5: life dot com slash e y l that's l A
Speaker 5: D D e R Life dot com slash e y
Speaker 5: l that's Ladder Life dot com slash e y l.
Speaker 5: You know how this words, don't wait, don't hesitate, secure
Speaker 5: your family's future.
Speaker 10: Right now, that's a play watching yl you can put
Speaker 10: that as a value add again, I'm you know, a game,
Speaker 10: so we got to get so you know, honestly, you
Speaker 10: can do a lot of value adds right like I said,
Speaker 10: you can add in the machines.
Speaker 2: One thing that we incorporate food truck. Yeah, incorporating is
Speaker 2: buying you know, older food truck. Now you can have
Speaker 2: food truck. And now you can actually have you know,
Speaker 2: one of the tenants who's one of the best cooks
Speaker 2: to come and now serve that. So it's a lot
Speaker 2: of different value ads even I'm I'm gonna give them
Speaker 2: a play. So now instead of having an actual convenience store,
Speaker 2: you can purchase an older r V a camper and
Speaker 2: turn that into a convenience store. So now it's mobile
Speaker 2: so that can go get his own snacks and fill up.
Speaker 2: And now, because the biggest thing you want to do
Speaker 2: for community, you really want to have a community, Like
Speaker 2: I get it. We look at his investors, but for us,
Speaker 2: it's the community. What can we do for the people,
Speaker 2: How can we add value for the people? And those
Speaker 2: are the few ways we to do it just finding
Speaker 2: out what they like.
Speaker 4: Yeah, that's a good idea for sure, because it's like
Speaker 4: people got to instead of going to the store, you
Speaker 4: can just have everything you need.
Speaker 6: So in these mobile home communities.
Speaker 4: What is the vibe? It's just like five how big
Speaker 4: is it? Eight acres? Five acres? Five So five acres
Speaker 4: of just land with seventy mobile homes.
Speaker 6: That's it.
Speaker 4: There's nothing like it's what are they doing?
Speaker 2: So one thing I will say what I love about
Speaker 2: mobile they're more it's a more tight knit family, right
Speaker 2: because again sometimes they are stereotyped. Right you live in them,
Speaker 2: you live in a trailer or things like that, right,
Speaker 2: But down south you see it more often. But in
Speaker 2: the community, the community is more tight knit than a
Speaker 2: lot of times that we think of. Like you said,
Speaker 2: they may you know, go to work activities depending on
Speaker 2: where that's.
Speaker 6: That's kind of a jaded question.
Speaker 4: It's like I'm thinking, like a restaurant, you got to
Speaker 4: you got to be able to go to the gym,
Speaker 4: like you know what I'm saying, Like everything is in
Speaker 4: walking distance or at driving distance. But I guess most people,
Speaker 4: if you're in Middle America, a lot of stuff is not.
Speaker 6: In the city anything exactly. What if you live in
Speaker 6: a house. You don't know what I'm saying.
Speaker 5: What if we can turn one of those, like like
Speaker 5: those fast food franchises into them mobile unit to the property.
Speaker 5: Well like what so let's say you had like like
Speaker 5: McDonald Donald's and we had a mobile truck that came
Speaker 5: the same way that they cook, like the fast truck does.
Speaker 5: Now you bring that to the property. I was really
Speaker 5: thinking entertainment wise too, like maybe once a month, you know,
Speaker 5: like they have those mobile screens.
Speaker 2: It's a lot of places and depends so especially down South,
Speaker 2: like those down South, so it's their community. So you
Speaker 2: have all age communities and then you have to earners.
Speaker 5: What's up? You ever walk into a small business and
Speaker 5: everything just works, Like the checkout is fast, the re
Speaker 5: seats are digital, tipping is a breeze, and you're out
Speaker 5: the door before the line even builds. Odds are they're
Speaker 5: using Square? We love supporting businesses that run on Square
Speaker 5: because it just feels seamless. Whether it's a local coffee shop,
Speaker 5: a vendor at a pop up market, or even one
Speaker 5: of our merch partners. Square makes it easy for them
Speaker 5: to take payments manage inventory, and run their business with confidence,
Speaker 5: all from one simple system. If you're a business owner
Speaker 5: or even just thinking about launching something soon, Square is
Speaker 5: hands down one of the best tools out there to
Speaker 5: help you start, run, and grow. It's not just about payments,
Speaker 5: it's about giving you time back so you can focus
Speaker 5: on what matters most ready. To see how Square can
Speaker 5: transform your business, visit Square dot com backslash go backslash
Speaker 5: eyl to learn more that Square dot com backslash, go
Speaker 5: backslash eyl. Don't wait, don't hesitate, Let Square handle the
Speaker 5: back end so you can keep pushing your vision forward.
Speaker 5: This episode is brought to you by P and C Bank.
Speaker 5: A lot of people think podcasts about work are boring,
Speaker 5: and sure they definitely can be, but understanding a professionals
Speaker 5: routine shows us how they achieve their success little by little,
Speaker 5: day after day. It's like banking with P and C Bank.
Speaker 5: It might seem boring to save, plan and make calculated
Speaker 5: decisions with your bank, but keeping your money boring is
Speaker 5: what helps you live or more happily fulfilled life. P
Speaker 5: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
Speaker 5: Boring since eighteen sixty five is a service mark of
Speaker 5: the PNC Financial Service Group, Inc. P and C Bank
Speaker 5: National Association Member FDIC.
Speaker 11: An illegal alien from Guatemala charged with raping a child
Speaker 11: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 11: accused of murdering a Texas. Man of Venezuelan charged with
Speaker 11: filming and selling child pornography in Michigan. These are just
Speaker 11: some of the heinous migrant criminals caught because of President
Speaker 11: Donald J. Trump's leadership. I'm Christy Noman, the United States
Speaker 11: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 11: crossings are at the lowest levels ever recorded, and over
Speaker 11: one hundred thousand illegal aliens have been arrested. If you
Speaker 11: are here illegally, your next you will be fine nearly
Speaker 11: one thousand dollars a day, imprisoned and deported, you will
Speaker 11: never return. But if you register using our CBP home
Speaker 11: app and leave now, you could be allowed to return legally.
Speaker 11: Do what's right. Leave now. Under President Trump, America's laws,
Speaker 11: border and families will be protected.
Speaker 5: Sponsored by the United States Department of Homeland.
Speaker 2: Security five plus communities fifty five plus Again, anybody who's
Speaker 2: fifty five plus retired. They like living amongst each other.
Speaker 2: So in a lot of those communities you have different
Speaker 2: you know, start your five star communities, you know one
Speaker 2: star communities. One stars, they're like, yo, I don't think
Speaker 2: I'm driving enough. And then you get the five star
Speaker 2: you're like, yo, these a mobile homes because the new
Speaker 2: stuff is crazy. Well I'll talk about that. But so
Speaker 2: now they have entertainment, right, they have Like we did
Speaker 2: business in India, they had a clubhouse, so they'll have different,
Speaker 2: you know, different weekly things that they'll do in the clubhouse.
Speaker 2: So you have mobile home communities that you know, a
Speaker 2: family base, and they definitely have you know, different things.
Speaker 8: Or I was gonna say, even the one, our first
Speaker 8: part that we did business in in Illinois, they had
Speaker 8: a pool or swimming pool for the kids, like a
Speaker 8: basketball court. Like it seems small to us, but like
Speaker 8: you said, like individuals who live in like rural America,
Speaker 8: like that is their entertainment.
Speaker 5: I got a bunch of ideas.
Speaker 6: I'm crazy mobile homes. I was always thinking the whole
Speaker 6: point is to be able to drive.
Speaker 4: Yeah, but I'm hearing that most people don't leave, So
Speaker 4: why do you have a mobile home if you're not
Speaker 4: going to be driving.
Speaker 2: So the difference. So so the ones you talk about
Speaker 2: the driving those are the r vs. Yeah, and so
Speaker 2: the mobile like more so manufacturing home. But the reason
Speaker 2: we still call them mobile because again they be moved
Speaker 2: to a spot. But those are the double wise. The
Speaker 2: single wise that you see, those are more so that.
Speaker 2: So they're just okay, they're.
Speaker 6: Called mobile because they can be moved exactly. They're not
Speaker 6: actually like driving.
Speaker 2: They are like the tiny home, right, and they are
Speaker 2: similar in the factory so against just like for example,
Speaker 2: like Clayton Holmes that's Born Buffets company. They cranking out
Speaker 2: some factories can crank out thirty homes a day. So
Speaker 2: they're cranking them out just like you know, just like
Speaker 2: a like a car, and then they move them to
Speaker 2: the location.
Speaker 4: We you know, it's one of these things that we're
Speaker 4: in a housing crisis right now and inflation is at
Speaker 4: all time high and the housing market is that all
Speaker 4: time high. Is also so a lot of people can't
Speaker 4: afford to lift places. So it's like, you know, because
Speaker 4: how much do these things cost now? Like how much
Speaker 4: mobile homes costs now on average?
Speaker 8: So average I was gonna say, use average. So when
Speaker 8: we first started, you can really find a use mobile
Speaker 8: home for less than five thousand dollars.
Speaker 9: So I would say that we.
Speaker 8: Definitely run the market up a little bit, so I
Speaker 8: would say, shout out to y'all.
Speaker 9: But so now it's right.
Speaker 8: But now I would definitely say you can still find
Speaker 8: a mobile home, a use mobile home for a less
Speaker 8: than ten thousand dollars. Now a newer mobile were home,
Speaker 8: like a twenty twenty two. That really depends on the
Speaker 8: making model, but I would say average.
Speaker 9: The lowest we've seen.
Speaker 8: Is like thirty thousand upwards to like fifty thousand.
Speaker 2: How many squiff feet, so anywhere from seven hundred seven
Speaker 2: hundred scud feet to a double wide on a high
Speaker 2: end almost two thousand square feet.
Speaker 5: So that could be like two to three bedrooms.
Speaker 2: You can get four bedrooms out of those.
Speaker 5: They come with launder units inside of it too.
Speaker 2: Yeah, yep, everything you have laundry units. Yeah. So what
Speaker 2: I love about it imagine launch, right, So the beautiful
Speaker 2: thing about it, right, like most so after definitely after
Speaker 2: the eighties, everything was made just like a like an apartment, right,
Speaker 2: So imagine just a longer apartment with no upstairs downstairs
Speaker 2: is just it's just its unit. And then one thing
Speaker 2: that she said, the average about ten thousand, but I know,
Speaker 2: are your viewers from California, from Massachusetts, New York, They're
Speaker 2: gonna be like ten thousand where because it's all about location.
Speaker 2: The same oble home that we can go get for
Speaker 2: ten thousand dollars, let's say in Florida, in San Diego,
Speaker 2: that costs seventy thousand dollars. So it's all about location, right,
Speaker 2: So a lot of places they don't see that. But
Speaker 2: I always tell people, if your mobile home costs seventy
Speaker 2: thousand dollars, that means your single family home is at
Speaker 2: least four hundred thousand dollars. So it's a huge gap,
Speaker 2: and it's still it's always gonna be an affordable option.
Speaker 4: So Okay, So I was reading and they said the
Speaker 4: mobile home parks is low risk and high demand. Yeah,
Speaker 4: low risk, high demand, So I'm assuming it's low risk
Speaker 4: because there's not a lot going on and you said
Speaker 4: people don't usually leave, Yeah, and high demand because we
Speaker 4: just talked about a housing crisis.
Speaker 6: Yeah, and it's a.
Speaker 4: Very affordable way to lift yes, So it's actually like
Speaker 4: something that is it's getting bigger.
Speaker 2: Yeah, oh yeah, for sure. It's so it's especially what's
Speaker 2: happening right now. Right like I said, we're seeing prices
Speaker 2: are going up inflation. People still need to you know,
Speaker 2: affordable place to live, and so it is becoming more
Speaker 2: attractive because it's like apartment ren's not going down. And
Speaker 2: now I can make twenty dollars an hour, fifteen dollars
Speaker 2: an hour, and I can go live in a community.
Speaker 2: I can have my own my own home for and
Speaker 2: I can pay kind of similar to either what an
Speaker 2: average apartment rentals or less, or I can own my
Speaker 2: home for fifteen thousand dollars in like three years, four years,
Speaker 2: whatever the terms look like. So people are starting to realize,
Speaker 2: like all right, especially people that are like, you know,
Speaker 2: like thirty thirty and up. They're like, yo, you know
Speaker 2: what it's going downsides Like we were trying to live
Speaker 2: in the city and things. Let's go get this mobile home.
Speaker 2: Save some money because you going to parks, you see benses,
Speaker 2: you see them big four one fifties, Like they live
Speaker 2: good because their cost of living is cheaper.
Speaker 4: And it's a low turnover. Right, yes, what about competition,
Speaker 4: Like is it a competitive market right now.
Speaker 2: Yes, it definitely is. I think on all aspects. It's
Speaker 2: competitive as far as you know, people come into the
Speaker 2: space want to buy mobile home communities. Now it's still
Speaker 2: when the last time we spoke institutionally. What I mean
Speaker 2: by that like like you know, company like private companies
Speaker 2: or large institutions only had on ten percent of the
Speaker 2: market ship. The rest we call mom and pop parks,
Speaker 2: meaning it just you know, they've been in a family,
Speaker 2: they're privately owned. Now that's probably up to about right
Speaker 2: around like thirteen fifteen percent. So there's still a lot
Speaker 2: of communities out there. Some people are sitting and holding
Speaker 2: in value and then some people are like, you know what,
Speaker 2: I'm not about to sell to you to come in
Speaker 2: here and raise the value and push my tenants out.
Speaker 2: And so it's all about relationships nowadays, right You got
Speaker 2: to build a good relationship with somebody who has a community.
Speaker 2: You know, some people, a lot of park owners, they
Speaker 2: are older and they're like, you know what, my kids
Speaker 2: don't want this. You know, they look like a nice
Speaker 2: couple will sell my mobile home community.
Speaker 8: No, I was going to hop in and say, because
Speaker 8: I know viewers for the individual home aspect, I would
Speaker 8: say that it's not competitive. It's still a very low
Speaker 8: competition market if you do. If someone's watching this and
Speaker 8: they're like, hey, I just still want to get into
Speaker 8: even the individual space and then transition to the mobile
Speaker 8: home community space, it's still a great market to get
Speaker 8: in as far as that low risk and involvement in
Speaker 8: real estate.
Speaker 5: Yeah, I'm thinking from the stand point and I'm glad
Speaker 5: you said it was like they're cranking out thirty homes
Speaker 5: a day, right, you have parks. At some point, do
Speaker 5: you think, hey, maybe I should design it or create
Speaker 5: the actual homes to actually sell the people we have.
Speaker 2: We definitely have. I got a list of all the manufacturers,
Speaker 2: and you know, I honestly look at it like twenty
Speaker 2: twenty three. I want to go into get an acquisition
Speaker 2: where I buy an actual manufactured company so we can
Speaker 2: have Because what happened with the pandemic did it slowed
Speaker 2: down the production. So it's a lot of park owners
Speaker 2: who are on still waiting for new homes to come
Speaker 2: in because right now, like you said, it's it's a demand.
Speaker 2: So people are now trying to fill up their parks.
Speaker 2: It's still like the wild wild West, meaning whereas you
Speaker 2: gotta park. Troy has a park. Rashad got a park.
Speaker 2: Rashad just bought a park. He got seventy units all
Speaker 2: his all field. You got a park. You got seventy units,
Speaker 2: but only fifty is field. So you may come to
Speaker 2: somebody like, hey, listen, I need some homes so they
Speaker 2: can go to Rashad's park and take money out of
Speaker 2: Rashad's park by taking buying a home, taking it out
Speaker 2: of his park to bringing yours. Now, that can cost
Speaker 2: Rashada anywhere from twenty some thousand dollars plus because he
Speaker 2: got a fill of his land and now that's stopped.
Speaker 2: That's just another home. The cast laws out.
Speaker 5: The person that actually he's just gonna how's that work?
Speaker 5: He's gonna take it from the lot.
Speaker 2: So here's the thing. Yeah, So here's the thing. When
Speaker 2: you own, for example, mobile homes inside of mobile home
Speaker 2: communities except in Texas, New Hampshire, Vermont, they are titled
Speaker 2: just like cars. Right, so I own an asset. Once
Speaker 2: I have that title, I don't necessarily have to have
Speaker 2: this in the community. So as for us, we try,
Speaker 2: you know, you want to get tenants on leases in
Speaker 2: agreement saying hey, I want to stay in this spot
Speaker 2: for at least a year. Some people have two three
Speaker 2: year commitments. Whatever that looks like. So now if I
Speaker 2: if let's say I'm not in the you know it's
Speaker 2: Rashad's parking, is your park, i'mnna bring it to you
Speaker 2: if I have the title, and Sharanie says, hey, I
Speaker 2: can help you. I'll sell you. I mean I'll buy
Speaker 2: a home from you. Right, cool, And she's the highest bidder.
Speaker 2: Now she can go buy the home. She's the title owner,
Speaker 2: and she can go to Rasha like, yo, I'm the
Speaker 2: title owner. So unless you're gonna give me thirty K
Speaker 2: for this house, I'm moving in. And Sean can be
Speaker 2: like either I'm gonna pay you that or no?
Speaker 6: All right?
Speaker 2: Cool. Now she's taking that home to Troy because because
Speaker 2: she on the asset.
Speaker 5: So it's like the title like the deed for the house. Yeah, gotcha.
Speaker 2: People find mobile home parks, so I know she got
Speaker 2: the resource. Mobile home parkstore dot.
Speaker 8: Com, loopnet dot com is another one. Facebook groups. It's
Speaker 8: a lot of like mobile home park Mastermind Facebook groups.
Speaker 9: You can find park.
Speaker 8: Owners or agents that's listing parks driving for dollars like
Speaker 8: you can still drive around to different communities and if
Speaker 8: the current owner is there, you can get out and
Speaker 8: have a conversation with them and just ask like, hey,
Speaker 8: you know you have a thought about selling or you're
Speaker 8: thinking about selling.
Speaker 5: Is there like like an auction? They do auctions for homes.
Speaker 2: If it's like more, there are some you can definitely, yeah,
Speaker 2: you can find homes. But even for parks that they
Speaker 2: have some, especially if it's like like a tax duh,
Speaker 2: you can get those every now and then. They have
Speaker 2: a few I've seen like Arizona they have auctions. I
Speaker 2: also tell them give them the Google Google Map play.
Speaker 9: Oh yeah, Google Map.
Speaker 8: You can put in your Google Maps and mobile home
Speaker 8: parks near me in your area and then it literally
Speaker 8: would show you all of the mobile home parks is
Speaker 8: off any highways it's in your area. So that's another
Speaker 8: way to see the mobile home parks in your area.
Speaker 6: So it's good information.
Speaker 4: So as far as like buying a mobile home park,
Speaker 4: you have like an inspector come in and they do
Speaker 4: an inspection, like if you're buying a home, but they
Speaker 4: got an inspection for every home, or they just do
Speaker 4: an inspection for the land.
Speaker 6: More they don't expect the individual.
Speaker 2: Home, so more so for the land. But I would
Speaker 2: tell you know, I would encourage if you definitely get
Speaker 2: inspection over the houses as well.
Speaker 4: They don't you can do that, yeah, like you have
Speaker 4: somebody do it each individual house, just to make sure
Speaker 4: the maintenance of the houses.
Speaker 6: That could affect you too, right.
Speaker 2: Yeah. And then so for example, what if it's tenant owned,
Speaker 2: if the home is you know again the tenant owns. Uh,
Speaker 2: more so just the exterior.
Speaker 6: How's appraisals work?
Speaker 2: So they are mobile home park appraisals? The process, I
Speaker 2: don't know, but I will say I like appraisals because
Speaker 2: every time the park we had, we always get equity
Speaker 2: within this.
Speaker 5: Yeah.
Speaker 4: Do you think that, like, like for real estate investor,
Speaker 4: is is this something that you would consider people to
Speaker 4: chick consider instead of buying homes, buying mobile home parks
Speaker 4: or like in addition to their real estate portfolio.
Speaker 5: Look, the CFOs that get it get it. The CFOs
Speaker 5: that don't don't. Let's talk about the CFO. The chief
Speaker 5: financial officer. Today's CFO is critical to the strategy and
Speaker 5: success of the business and in growing companies, there are
Speaker 5: two kinds of CFOs. One who's struggling to keep up
Speaker 5: spreadsheets everywhere, manual processes, errors and lack of visibility into
Speaker 5: the numbers. It takes weeks to close the books. The
Speaker 5: other kind is on top of that game. Automated reports, inventory,
Speaker 5: e commerce, and HR flow into the financial model seamlessly,
Speaker 5: insights coming with the click of a button. That's why
Speaker 5: netwuite is the number one cloud financial system used by
Speaker 5: over twenty eight thousand growing businesses. With visibility and control
Speaker 5: of your financials, inventory, HR, planning, budgeting, and more, net
Speaker 5: suite is everything you need to grow, all in one place.
Speaker 5: With netwite, you can automate your processes and close your
Speaker 5: books in no time. Are staying well ahead of your competition.
Speaker 5: Ninety three percent of survey businesses increase their visibility and
Speaker 5: control after upgrading the next week And did I mention
Speaker 5: twenty eight thousand businesses already used next week. So here's
Speaker 5: what I want you you do. Head over to nextsuite
Speaker 5: dot com slash ey l for a special one of
Speaker 5: a confinancing offer. That's next suite dot com slash eyl,
Speaker 5: nextsuitek dot com slash ey l. Don't wait, don't hesitate,
Speaker 5: head over there now.
Speaker 2: I mean, we will providing a competition now. But now
Speaker 2: you know what though, I would say this if you
Speaker 2: want to buy more units for a more affordable price.
Speaker 2: For example, if you buy an apartment building nowadays, the average
Speaker 2: apartment building per unit, you're looking at anywhere from like
Speaker 2: sixty nine thousand up or still like eighty nine thousand
Speaker 2: per unit. Whereas a mobile home park you're looking at
Speaker 2: we would like to we like to find units anyway
Speaker 2: thirty thousand and less, but you're looking at possibly thirty thousand.
Speaker 2: On the high ends. We see some people like fifty
Speaker 2: five thousand per unit. So you get more, you get
Speaker 2: more units, yep, you get more unit. You get the
Speaker 2: land too, get the land.
Speaker 6: Yeah, now every time you get to own the land.
Speaker 2: Yeah, park every time. And the beautiful part of extra strategy,
Speaker 2: it depends on where your land is. Let's say God
Speaker 2: forbid all the homes or now I can sell it
Speaker 2: to home depots, so it's so my land to them.
Speaker 4: So but those two parts that you sold, why did
Speaker 4: it appreciate so much though, because that was like a
Speaker 4: big appreciation for both of them.
Speaker 6: Yeah. Was it a reason did you like refurbish it.
Speaker 2: Or or it's just good timing both right, just definitely
Speaker 2: adding the value to it. Turning the tenants. Like I said,
Speaker 2: people are more likely to get a loan from the
Speaker 2: fact that if it's tenant owned homes, right, because they
Speaker 2: look at it, it's more it's a riskier if I
Speaker 2: have I if I'm going to own all the homes.
Speaker 2: And then, like you said, perfect time after the pandemic,
Speaker 2: people saw the results, right, rent rolls, I mean it
Speaker 2: was on paper, rent rolls are looking good. You're still
Speaker 2: looking a lot of a lot of mobile home park owners.
Speaker 2: Rent rolls are still like eighty five to ninety percent,
Speaker 2: whereas you're saying apartments, I mean, you know they struggling.
Speaker 2: It was they was people won't even get thirty percent
Speaker 2: of their rent rolls. So you know, it just looked
Speaker 2: very attractive. And then the cash flow you just saw
Speaker 2: more and more, more and more companies and investors like, yo,
Speaker 2: this is kind of safe because now this is what
Speaker 2: I've heard from my but they used to call it
Speaker 2: basically kind of like a you know, like a recess
Speaker 2: recession resistant asset class, because that's when most people are
Speaker 2: gonna come when times are bad, you know, to a
Speaker 2: mobile home community.
Speaker 5: Okay, okay, I got that. I got that. So it
Speaker 5: so we got these lands. You said, twenty twenty one
Speaker 5: was a tough year. At some point we had to
Speaker 5: readjust the planssess what we're doing. What was that like
Speaker 5: for both of y'all, Like, you know that that could
Speaker 5: lead to some tension and now we're still having this wedding. Man,
Speaker 5: we got to hit.
Speaker 2: These you know what, I will say, she helped me.
Speaker 2: I was kind of stressing and as always, it's always stressing,
Speaker 2: and she kept you know, she she definitely kept me
Speaker 2: level headed. You know, just look at the bigger picture.
Speaker 2: Look what we have, you know, look what we've been
Speaker 2: able to create, and that did help me.
Speaker 9: And then don't want to say, look what we've done.
Speaker 8: Right, So at that point we were like, oh, we
Speaker 8: want to get so many mobile home parks. But then
Speaker 8: I think we didn't realize what we created in the
Speaker 8: educational space. As far as you know, we got over
Speaker 8: ten thousand students enrolled in our program. So that's another stressor.
Speaker 8: And you know, within itself on building the top mobile
Speaker 8: home investment educational program in the country, that comes with
Speaker 8: again we had to build a team around that. So
Speaker 8: now We have a team of eight under us now
Speaker 8: just for that alone, and then still trying to build
Speaker 8: our team around the mobile home communities as well.
Speaker 5: Yeah, ye're building two different entities, but one educational and
Speaker 5: it's still practicing in the space.
Speaker 2: Yes, it's tough, yeah, love.
Speaker 6: Do you have a park manager?
Speaker 2: Yes, so every community has a park manager and they
Speaker 2: mostly we offer but they can live whatever. I think
Speaker 2: one of them does not live on the community. And
Speaker 2: they're like the super kind of basically yep, just like
Speaker 2: a super. The difference that they don't fix anything. They'll
Speaker 2: mostly call the shots, you know, they make sure, you know,
Speaker 2: they report everything out, just a.
Speaker 6: Check on everything. What do you think the future for
Speaker 6: mobile homes in America is? So?
Speaker 2: Honestly, so this is the mobile home park space. Manufactured
Speaker 2: home space technically kind of threatens the housing sector. Why
Speaker 2: because they're cranked out in a factory. So if America
Speaker 2: really regulated this and said okay, cool, free, will you
Speaker 2: guys everybody can create factories. Now you're talking about what
Speaker 2: you're gonna do to contractors and builders, right, because now
Speaker 2: if we just popping up all these homes, you know, factories,
Speaker 2: and we just putting in places that definitely. That hurts, right,
Speaker 2: So you know it's it's still regulated, but I see that.
Speaker 2: I mean, if you guys, you know, anybody's that's watching,
Speaker 2: you know, you can google twenty twenty two mobile homes,
Speaker 2: manufactured homes and I mean now the manufacturing town homes
Speaker 2: and you know, multi level floors and things like that.
Speaker 2: So the future as people are looking to downsize or
Speaker 2: people realize that they'll need too much space living in
Speaker 2: kind of like that minimalistic life, you know, it's affordable.
Speaker 2: I think we're really we really will see more people
Speaker 2: in that space. You see the tiny home space to
Speaker 2: container home space. You know, it's all right right on.
Speaker 5: The same all you're watching those likes and saying, all right,
Speaker 5: is this competition right because you know, we know some
Speaker 5: people that have home communities and nah, so it's completely.
Speaker 2: Different, completely because for us owning the land, come on,
Speaker 2: tiny home, come on container home, like we got we
Speaker 2: can replace those.
Speaker 6: Yeah you could do that.
Speaker 2: That no, well, she had she loves me.
Speaker 9: I'm like, I have, I love tiny homes.
Speaker 8: So that's originally what I wanted to get into before
Speaker 8: we even got to the mobile home space. What attracted
Speaker 8: me to mobile homes was the affordability. So you know,
Speaker 8: tiny homes, it's kind of like they're on the same
Speaker 8: lines as regular single family home prices, and you know,
Speaker 8: certain markets you can get a tiny home for like
Speaker 8: seventy thousand versus like when we first started, we didn't
Speaker 8: have anything, So me going out and searching for a
Speaker 8: mobile home that we can get for three thousand and
Speaker 8: flip it for ten thousand was more attracted.
Speaker 6: So this is a this is a land play.
Speaker 2: Yeah, yeah, this all land play, land play.
Speaker 5: E've been watching the McDonald's documentary.
Speaker 2: Yeah, that's like the primary focus on the land.
Speaker 4: But you so all right, you buy the land, but
Speaker 4: you can't do anything you want with the land though, right,
Speaker 4: Like you can't kick the people off technically.
Speaker 2: You can technically, but you know again, I mean for myself,
Speaker 2: living integrity now our person, Yeah, but you can. Yeah.
Speaker 2: So for example, we just come to a parking North
Speaker 2: Carolina and he they hadn't know, maybe twenty plus homes
Speaker 2: and the developed well he's a developer, and he's just like, yo,
Speaker 2: like I think they got everybody out of the homes
Speaker 2: and now sell the rest of these mobile homes and
Speaker 2: they're going to develop apartments so.
Speaker 4: Like, when you go for financing for this, since you're
Speaker 4: buying land but you're also buying houses, what kind of
Speaker 4: loan is it?
Speaker 2: Yeah, so it is a They do have matter of fact, sure,
Speaker 2: manufactured home community loans specifically for just for this Yep
Speaker 2: and Fanny May. They actually have a certain amount that
Speaker 2: they have just for manufactured home communities that they you know,
Speaker 2: that they actually allow. I don't. I don't remember the
Speaker 2: actual number. So you know, you you are. Well, we're
Speaker 2: seeing since we first started, we're seeing more and more
Speaker 2: lenders now that are are lending for mobile home parks and.
Speaker 4: Like, what's the requirements like saying, like you like tax returns?
Speaker 2: Yeah, pretty much like a commercial real right, you know,
Speaker 2: the same thing real estate. We was in this space
Speaker 2: twenty five thirty percent, so we're hoping to go down
Speaker 2: to twenty.
Speaker 5: Was it always that you've seen it change?
Speaker 2: We haven't seen.
Speaker 8: Well, So I go ahead, and I was gonna say,
Speaker 8: just from when we just first started doing this, I
Speaker 8: would say it's always.
Speaker 9: Been kind of thirty thirty percent.
Speaker 5: Now, going back to that that landplay that you said
Speaker 5: from let's say like you wanted to turn it into apartments,
Speaker 5: so you want to call commercial real estate or something
Speaker 5: like that. Do you have to now go back to
Speaker 5: the zoning laws and go to the county and figure out.
Speaker 9: If we can yes, yet on the same process.
Speaker 6: Yeah, then you can refine.
Speaker 2: Yeah, And so that's really the play honestly, like for example,
Speaker 2: you know again just see why, Yeah, get played here,
Speaker 2: you know you gotta get plays. But you know, again,
Speaker 2: if I find, if I find a community, I add
Speaker 2: value to it, I want to refinance, right because now
Speaker 2: I can go take that with the equity and I
Speaker 2: can go put the down payment on another community. And
Speaker 2: so that's what most are doing, just like the you know,
Speaker 2: the Birst strategy. Just like with houses, people are doing
Speaker 2: that with mobile home communities.
Speaker 5: What so, I know ten was the goal last year.
Speaker 5: We set a goal. I mean it's still early. In
Speaker 5: twenty twenty two, we set a goal for this year. Yeah,
Speaker 5: we're gonna hold you to.
Speaker 2: I got bad luck from man.
Speaker 6: There's that.
Speaker 5: There's a number that we that we're like, you know what,
Speaker 5: realistically we can hit this number.
Speaker 2: Yes, yes, because why because we we're rolling out a
Speaker 2: mobile home park fund and so that allows us each
Speaker 2: quarter to buy multiple and so the goal is to
Speaker 2: get three to four communities a quarter and now allow
Speaker 2: opportunity for more people to come as passive investors, to
Speaker 2: get to learn how to do it. And again we
Speaker 2: always talk about we can always talk about group economics,
Speaker 2: but a lot of people don't look like us that
Speaker 2: do this. So now it's like, oh, we open up
Speaker 2: the doors. Right, I think we know what three three
Speaker 2: black mobile home park, so in this space, and it
Speaker 2: may be more, but we don't necessarily know them. So
Speaker 2: for us, we now we want to each quarter, we
Speaker 2: want to say, hey, we got ten more, you got
Speaker 2: ten more, you got ten more, and that again allows
Speaker 2: us to buy it allows us to buy more. And
Speaker 2: then for us, you know, kind of stepping now into
Speaker 2: that fund space, you know, that's that's the next thing
Speaker 2: for us.
Speaker 5: So the fund, we can actually invest in it. How
Speaker 5: does this work? Told me?
Speaker 2: Yeah, So the fund, we'll have general partners, limited partners
Speaker 2: the fund for us. I don't know if I could
Speaker 2: say that numbers I got hot the eighth, but okay,
Speaker 2: I'll get hypothetical. Right, So let's say the fund we say, hey,
Speaker 2: you know what, our general partners, we want to put
Speaker 2: sixty thousand a piece.
Speaker 5: Right.
Speaker 2: The goal is we going to say we want to
Speaker 2: raise a million dollars, and that million the goal is
Speaker 2: to take that million to become down payments for each community.
Speaker 2: So that's how we get more instead of just buying
Speaker 2: these parks our cash. Now right though within a million,
Speaker 2: we can find as many parks as we can. Let
Speaker 2: allow that be the down payment. We go get go,
Speaker 2: get outside finance. And so now what we're able to
Speaker 2: do is, hey, we own Let's say we own five
Speaker 2: million dollars in assets. The goal is to get a
Speaker 2: larger fund to look at us add value. While we're
Speaker 2: adding value, we want a larger fund to say, you
Speaker 2: know what, look look at that. That's sustainable. Okay, let
Speaker 2: me let me go get them seven million for that,
Speaker 2: and now we make sure we take care of all
Speaker 2: of our investors.
Speaker 4: What's some of the biggest issues with the part, Like,
Speaker 4: is it environmental issues?
Speaker 6: Is it tenants?
Speaker 4: Like, what's some some of the downsides that can be hurtful?
Speaker 2: Yeah?
Speaker 8: Yeah, I would say definitely tenants, maintenance issues, I think
Speaker 8: just across the board, and even traditional real estate and
Speaker 8: mobile homes. Finding a reliable handyman and contractor and even
Speaker 8: just a handyman team has been like the biggest issues
Speaker 8: I would say we have saw.
Speaker 2: Yeah, and then the worst what happens is if you
Speaker 2: don't do your due diligence. Well we've seen people actually
Speaker 2: go in and buy a community and not consult with
Speaker 2: the county, not get the okay. And so if you
Speaker 2: you definitely want to be on the you know, the
Speaker 2: good side of with the with the city and the county,
Speaker 2: because we've seen people get a lot of trouble, right
Speaker 2: because what happens is they'll buy something, is the city
Speaker 2: is like, yo, that's already like ugly, we want that
Speaker 2: out of there. And you bought that and you're not
Speaker 2: doing nothing to that. So now you're gonna have I mean,
Speaker 2: they gonna come and look for everything, co violations, everything,
Speaker 2: you know, just to you know. So that's that's what
Speaker 2: we've seen people have a lot of headaches with as well.
Speaker 4: So talk about you also scaled the education a lot,
Speaker 4: right from the last time that we spoke, So talk
Speaker 4: about that. You talked about your your students having like
Speaker 4: I think ten thousand students nature, So how has that
Speaker 4: been as far as scaling that and talk about some
Speaker 4: of the maybe it's the success stories.
Speaker 8: Yeah, and so we actually brought on a head coach,
Speaker 8: so I got a shout out in Nicole Brisco mobile
Speaker 8: home mommy. But so the beautiful thing what I love
Speaker 8: about nicole story is that she was one of our
Speaker 8: first students that his six figures in less than six months.
Speaker 8: So Nicole had netted one hundred and eighty one thousand
Speaker 8: and six months from wholesaling individual mobile homes and then
Speaker 8: doing some on seller finance through payments.
Speaker 9: So she reached out to us.
Speaker 8: I think she hopped on the IG Live with us,
Speaker 8: and I loved her energy, and I told Byron, I said,
Speaker 8: you know, we got to think about scaling our educational
Speaker 8: program because kind of like you talked about Troy, it's
Speaker 8: hard to you know, have our hats fully in the
Speaker 8: investing side and try to, you know, have the number.
Speaker 9: One program in the world as well.
Speaker 8: So I told him, like, I think we should bring
Speaker 8: somebody on, and she was my first choice. So we
Speaker 8: ended up bringing her on and now she has our
Speaker 8: mentorship program, which is a twelve month program that we do,
Speaker 8: and that program is really to scale an individual to
Speaker 8: a six figure earner like herself and then then get
Speaker 8: them to the seventh figure earner like us and scale them.
Speaker 9: To buying you know, mobile home communities as well.
Speaker 2: Yeah, and it's been a blessing, you know. I think
Speaker 2: that I remember I had some queens pray over me
Speaker 2: one time, and I remember they was just like, you're
Speaker 2: a teacher, like a teacher all things. I'm a teacher,
Speaker 2: you know. But it was fun, right, you know, just
Speaker 2: being with the people, you know, being online, you know,
Speaker 2: being able just to share game and just you know,
Speaker 2: you seeing the impact and then definitely need to be
Speaker 2: able to do it with her.
Speaker 6: You know.
Speaker 2: It's just it's super dope that you know, we get
Speaker 2: a chance to share our knowledge, you know, see people
Speaker 2: change their lives and you know, even like you said,
Speaker 2: scale our team, my best friend growing up, right, my
Speaker 2: best friend is even on our team. And I got
Speaker 2: that from you all, right, seeing what y'all been able
Speaker 2: to do, and you know it's just like yo, like
Speaker 2: you know, halfing my goshot out, my guy Jarill even
Speaker 2: on the squad, and it's just like, uh, the impact
Speaker 2: we've been able to do, you know, for other people's lives. Man,
Speaker 2: it's it's been it's been incredible, man. And share stages, right,
Speaker 2: you know, share stages with so many other financial literacy
Speaker 2: educators out here, and just see how genuine everybody is.
Speaker 2: Like every time we see each other, it's all love.
Speaker 2: We might not see each other for months, but it's
Speaker 2: always love, you know. So that's the dope part.
Speaker 6: So it's kind of like.
Speaker 4: Mentorship type program, yes, where you say you you start
Speaker 4: off and you teach them the basics of like buying
Speaker 4: mobile homes, individual mobile homes, and then scaling it to
Speaker 4: the point where they could potentially.
Speaker 6: Buy mobile home parks yep.
Speaker 4: And it's like a step by step process, yes, with
Speaker 4: like zoom calls things.
Speaker 2: That so yep, zoom calls. And then we actually we
Speaker 2: created a bus tour. We actually take them out to
Speaker 2: a community, so we'll be you know, a city that
Speaker 2: that we have a relationship with a community. We ain't
Speaker 2: took them into ours yet because it's been cold, so
Speaker 2: you know, we'll take them out there and we even
Speaker 2: give them opportunities. We've had students buy homes at the
Speaker 2: at the you know where we you know, the parks
Speaker 2: that we take them too, and it's just giving that
Speaker 2: hands on. But for us, it's big, like we want
Speaker 2: them to be able to touch us, right, We want them
Speaker 2: to be. It's not like we Hollywood like all right,
Speaker 2: y'all see y'all from a distance. It's more like, no,
Speaker 2: come on, we're gonna come and break bread with y'all,
Speaker 2: like come and sit down, asks us. We pick our
Speaker 2: brain like while you're there with us, Like everything that
Speaker 2: we have we're gonna pour into them, and then after
Speaker 2: that we bring on more and more people's skill, whether
Speaker 2: it's you know, a business credit, whether it's you know,
Speaker 2: mobile home on private land. Like it's we keep we
Speaker 2: continue pouring mobile homes into them, and we've been able
Speaker 2: to out of that. We've had some six figure earners.
Speaker 2: We've had you know, multiple five I mean just countless
Speaker 2: five figure earners. But and then for us, we want
Speaker 2: to build within so that this brand mobile home lead
Speaker 2: investors just it lasts for ever and it's bigger than
Speaker 2: just me and Sharnice.
Speaker 5: So do y'all y'all what So that was pretty keen.
Speaker 5: You said that a lot of some of the students
Speaker 5: actually get to purchase from your properties. Yes, but do
Speaker 5: you also make sure and go out to secure their
Speaker 5: first property as well?
Speaker 2: That's the goal, Like that's the really goal. Like it's
Speaker 2: so it's it's an intense program. Like Nicole, I love
Speaker 2: about it. Man, she a real coach, so she is
Speaker 2: OneD ay ass and because we care though, right, like,
Speaker 2: and that's the thing, like I would tell people like
Speaker 2: don't don't invest. Don't invest in this if you don't
Speaker 2: really see yourself doing it. If you want the information, cool,
Speaker 2: just watch all of YouTube, watch everything for free, right,
Speaker 2: but if you serious, that's why I want you to invest.
Speaker 2: I don't want your money if you just this is
Speaker 2: you know, just just something right. And so you know,
Speaker 2: it's it's we make sure that we put as much
Speaker 2: you know we can. I mean, like they say, you
Speaker 2: can lead a horse to water, which you can't make
Speaker 2: them drink. So we try our best to give them
Speaker 2: as much resources and we got to push the head
Speaker 2: in the water. That's what we're gonna do.
Speaker 4: Yeah, it's one of these things where it's like like
Speaker 4: I said, there's no college for it.
Speaker 6: There's no.
Speaker 4: Education that you can go to university. So you know,
Speaker 4: the online space has become universities, especially for these type
Speaker 4: of niche learning like trucking facts, mobile home investing, mobile
Speaker 4: home park buying, and like you said, I mean it's
Speaker 4: always free information as far as on YouTube and google
Speaker 4: things in nature. But when you're talking about mentorship and
Speaker 4: like more of a hands on situation, that's a lot different.
Speaker 4: So it's like you said, it's not for everybody fat,
Speaker 4: but for people that actually do want to take the
Speaker 4: next step. So with that being said, we're going to
Speaker 4: do something special for E y L and you know,
Speaker 4: always try to do something a little different. Yeah, and
Speaker 4: anybody that has an offering, we try to get like
Speaker 4: a special discount, and you guys have been willing to oblige,
Speaker 4: so we appreciate that. So it's actually two offerings. So
Speaker 4: the website is mobile homes with an s E y
Speaker 4: L dot com. And you have the regular course that
Speaker 4: you have that's like a self go as you go
Speaker 4: program where you know, it's just use videos and you
Speaker 4: just learn and that you're going to do a thousand dollars.
Speaker 6: Off right, it's appreciate that.
Speaker 4: And then the more advanced, more the mentorship that's the
Speaker 4: hands on that's where you actually get the zoom calls
Speaker 4: and actually go on the bus ride and get you know,
Speaker 4: be part of the can munity and actually like you know,
Speaker 4: actually go from the steps of buying your first home
Speaker 4: to you know, potentially buying your first mobile park and
Speaker 4: for that you're gonna do two thousand dollars off. Sure,
Speaker 4: so I appreciate that. So yeah, so you more the
Speaker 4: mobile homes ey l dot com and uh, you know,
Speaker 4: check it out if you're interested in furthering your education
Speaker 4: and taking it to the next level, because, like I said,
Speaker 4: I mean, I think this is something that is interesting.
Speaker 4: You know, the first time was very interesting as far
Speaker 4: as the mobile home within the mobile home park, and
Speaker 4: like I said, even the land.
Speaker 6: That's what really gets my attention, Like.
Speaker 4: The land, Like you literally in a position where you
Speaker 4: can actually purchase land, and that's that's everything. We're in
Speaker 4: the race for land in this world. Whoever owns the
Speaker 4: land owns owns everything.
Speaker 5: Very true.
Speaker 6: Yeah, so what's next? What's what's next for you guys? Yeah?
Speaker 2: Man, so you know, concentrating on the fund and you know,
Speaker 2: I think for us, continuing to cultivate our students. You know,
Speaker 2: I think that that's the biggest thing. Like we said
Speaker 2: that far as the brand. Charnice and I realize, you know,
Speaker 2: getting married July second of this year, right, so thank you,
Speaker 2: thank you.
Speaker 8: Right, you know, hopefully after that comes to families change.
Speaker 8: We can't be at the forefront all the time. So,
Speaker 8: like you said, that's why we're trying to build our
Speaker 8: students up.
Speaker 9: You know, started with the cold. We want to.
Speaker 8: Eventually have a full team of coaches across the country
Speaker 8: that are teach in mobile home investment in each market.
Speaker 9: So that's our biggest goal with that.
Speaker 6: It's gonna be fun, super fun.
Speaker 9: Man.
Speaker 6: Man.
Speaker 2: I always appreciate y'all. Man, it's always dope linking with
Speaker 2: you guys. Man, truly appreciate y'all.
Speaker 6: Our first event too.
Speaker 2: Sum when you were shot the sky in Wall Street traffic.
Speaker 4: Yeah, yeah, that was his first time speaking to like
Speaker 4: a group of people.
Speaker 2: That was crazy.
Speaker 6: A lot of firsts, a lot has changed since. Definitely
Speaker 6: proud of.
Speaker 9: You guys, for sure, Thank you so much.
Speaker 4: How can people staying in such like, what's the website,
Speaker 4: what's the social media handles?
Speaker 6: All that stuff?
Speaker 2: Yeah for sure, so definitely Instagram is one of our
Speaker 2: heavy sites at Mobile Home Elite Investors, same thing that's
Speaker 2: our Facebook at Mobile Home Elead Investors, the watches on YouTube.
Speaker 2: We got so much just free stuff out there. If
Speaker 2: you type in mobile home lead Investors or mh Elite
Speaker 2: Investors website, Mobile Home Elite Investors dot com. Man, that's everything, yep,
Speaker 2: anything you want to say, niece.
Speaker 8: Man, I just want to say thank y'all again for
Speaker 8: having us come back. Definitely appreciate y'all and for everybody watching.
Speaker 8: I to see y'all in the mobile home space, join
Speaker 8: us in the mobile home space.
Speaker 5: Yeah. Man, I just want to say personally, how proud
Speaker 5: of am y'all. Growth from bureau in twenty nineteen to
Speaker 5: ten thousand students is remarkable and it was one of
Speaker 5: those first success stories. Like you said, it was the
Speaker 5: biggest episode that we put out at the time. And
Speaker 5: we always like to say like the like the match
Speaker 5: was lit, but the y was poor. And y'all have
Speaker 5: definitely done that. So congratulations on that. And I know
Speaker 5: twenty twenty one, you know it wasn't the greatest year
Speaker 5: for you, but there's something that was missing and that
Speaker 5: was an EYL episode.
Speaker 2: Two times time.
Speaker 5: You know how this thing works. So shout first and foremost,
Speaker 5: and shout out to all the earners out there, all
Speaker 5: of y'all man across the world, not even just the
Speaker 5: United States. I want to say, all our global earned
Speaker 5: Shout out to all of y'all. Y'all have just been
Speaker 5: spreading the word of the euy L and the word
Speaker 5: of financial literacy. So thank you and thank you for
Speaker 5: all your support. Shout to all our patrons on Patreon,
Speaker 5: and shout out to everybody in the merged team. Shout
Speaker 5: out to all our people in EYL University. We got
Speaker 5: the team has grown, so we got a lot of
Speaker 5: people over there. We got some professors, so shout out
Speaker 5: to them, and yeah, keep rocking with us.
Speaker 6: Thank you guys for rocking with us. We'll see you
Speaker 6: next week.
Speaker 3: Peace my graduates from my school being forced bags drop
Speaker 3: drop bag, drop bag drops.
Speaker 12: You just realized your business needed to hire someone yesterday.
Speaker 12: How can you find amazing candidates fast? Easy? Just use Indeed.
Speaker 12: Stop struggling to get your job posts seen on other
Speaker 12: job sites. With INDEED sponsored jobs, your post jumps to
Speaker 12: the top of the page for your relevant candidates, so
Speaker 12: you can reach the people you want faster. According to
Speaker 12: Indeed data, sponsored jobs posted directly on Indeed have forty
Speaker 12: five percent more applications than non sponsored jobs. Don't wait
Speaker 12: any longer, speed up your hiring right now with Indeed
Speaker 12: and listeners of this show will get a seventy five
Speaker 12: dollars sponsored job credit to get your jobs more visibility
Speaker 12: at indeed dot com slash pod KATZ thirteen. Just go
Speaker 12: to indeed dot com slash p O d k A
Speaker 12: t Z thirteen right now and support our show by
Speaker 12: saying you heard about Indeed on this podcast. Terms and
Speaker 12: conditions apply. Hiring Indeed is all you need