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What you’ll learn in just 17 minutes from today’s episode:
- Learn why you need to invest in mobile home parks
- Discover why mobile home parks are all about “affordable housing”
- Know how you can harness the affordable housing trend
Frank Rolfe has been an investor in mobile home parks for almost 30 years, and has owned and operated hundreds of mobile home parks during that time. He is currently ranked, with his partner Dave Reynolds, as the 5th largest mobile home park owner in the U.S., with over 250 communities spread out over 25 states.
Along the way, Frank began writing about the industry, and his books, coupled with those of his partner Dave Reynolds, have become leaders in this niche of commercial real estate investing.
In this episode, Frank talks about the investing potential in mobile home investment and why you should invest in mobile home parks.
01:29 – Frank’s transition from the billboard business to mobile home park investing, why he chose mobile home park as his real estate investing choice, the potential for affordable housing
04:01 – Expensive housing versus mobile home parks, what people do not know about the mobile homa park industry
04:41 – Frank’s unfair advantage in real estate, how his billboard advertising background and being a ‘workaholic’ helped him succeed
06:25 – What are the typical challenges he experienced in mobile home park investing
07:39 – The problems he solves for his students, how he teaches them to get to mobile home park investing
08:15 – Why mobile home park is a great investment in terms of financing and returns
09:25 – What’s an average mobile home park deal looks like in terms of number of units, pads and finance, the price point for buying one mobile park property
12:52 – Why Canadians should love mobile home park investing: Higher cap rates.
14:52 – Frank Rolfe best tip: ‘Think of a man of action, act like a man of thought.’
“I love the fact that affordable housing is a big thing right now in the US. So if we were all getting super prosperous, you would need mobile home parks. But I’m a believer that we’re going down the drain. So the demand for affordable housing grows every day.” – Frank Rolfe
“Our unfair advantage probably is we’ve been doing this for so long. There’s so many people, every park that we buy, we can put it in a box based on past parts, we can just almost guess, from before we buy it exactly how it will turn out. So that’s probably our entry badges.” – Frank Rolfe
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