Luck

We closed a $10,500,000 deal in our 20s.

It changed everything.

How did we do it?

This may surprise you.

We got lucky. 🍀

We were in the right place at the right time.

I honestly don't know where we would be without that early win.

We learned quickly that certain things aren't in our control.

However, there are several things we can control that will help us achieve more lucky breaks.

What lucky break has your company received?

#realestate #realestateinvesting #mobilehome #multifamily#mobilehomeparks #mobilehomepark #luck #risk

An Important Question

Do you even enjoy the business? 😃

👊🏼 If you don’t enjoy working with people in stressful situations, this business isn’t for you. 
👊🏼 If you are running away from your corporate job and looking for a passive investment, this business isn’t for you. 
👊🏼 If you focus solely on underwriting and sourcing deals, this business MIGHT not be for you.

This business requires many skills and hours, many of which you learn on the job. Yes, the 'visit once a year' park do exist, but they are few and far between.

🧐 If you like the idea of mobile home parks but not the nuisance of operations, I’d suggest investing in a fund. There are many available.

#mobilehomeparks #realestate #multifamily #mhp #fund

Use All Sources

We closed another park last week! 🙌

From a surprising source…

Loopnet. 🤨

We have searched for deals online several times a month since 2016. No results. 😌

When we first contacted the broker, the park was under contract.

We told the broker we were interested if anything changed. We sold the broker on why we should be considered.

The broker reached back out a week later.

We ran our due diligence swiftly. A few issues were negotiated, and we pushed to closing.

As much as I preach about diligently following up with off-market leads, take all avenues to grow the business. 📈

You never know where your next deal might come from. 💣

#realestate #mobilehomeparks #mhp #multifamily #business #mobilehomes

Funny Tenant Story

This business brings us many humorous, entertaining stories.

Today, I'll share one.

A tenant brought in a family member to purchase a home.

Me: We have an application process for every resident. 
Applicant: Well, I have a felon. *tells story of cops breaking into his home in the middle of the night and tasing him*
Me: 😮
Applicant: It was my ex-wife. She set me up.
Me: Got it. It will be difficult pass the background check.
Applicant: I am going to go down to the county and get it deleted. 
Me: 🤯 *I didn't know that's how the court system worked.

Few months go by…

He tries to sneak onto property by living with another resident.

Me: Sir, we told you that you have to apply to live here.
Applicant: The other property manager said I was approved
*call Ryan and put him on speaker
Me: I’m here with Paul and he said he was approved by you. Is that true?
Ryan: Absolutely not. 
Me: Sir, we are going to have to ask you leave the property. We will call the police in 24 hours if you haven’t left.
Applicant: *starts yelling obscenities* 🤬
Me: *leaves the situation quickly and goes back to office

A while passes and the office door swings out
Applicant: I’ll have you know I am going to call the NAACP and sue you.
Me: *a white male who assaulted a cop…* 🙄 Ok, sounds good.