One of the more invaluable skills I've learned in this industry is the ability to speak and understand Spanish. Even a basic knowledge of the language can pay large dividends.
This past weekend, I toured a used mobile home with an owner that didn't speak any English. My Spanish is muy malo, but I was able to communicate and understand the critical information to make a quick decision. "¿Que es el precio?" y "¿Tienes un título por la traila?".
Several months ago, we purchased a property that had over 20 vacant homes, some needed extensive repairs. In less than 45 days, we sold off all vacant mobile homes by leveraging our Spanish skills. This alone added over $500,000 in equity.
The Hispanic population in the US is one of the fastest growing ethnic groups and likely to continue for decades. In our portfolio, several of parks are mostly Hispanic. In general, they are some of our most loyal, industrious, and financially-predictable residents.