MB281: How to Scale a Portfolio of Mobile Home Parks – With Kevin Bupp

Financial Freedom with Real Estate Investing

Michael Blank, Garrett Lynch, Michael Blank, and Garrett Lynch에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Michael Blank, Garrett Lynch, Michael Blank, and Garrett Lynch 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

2+ y ago 50:24

MP3•에피소드 홈

Scale is crucial to achieving financial freedom with real estate. And while multifamily is the fastest way to achieve scale, there are other commercial asset classes that will get you there, provided you understand the challenges and how to overcome them. Kevin Bupp is living the dream with mobile home parks, and he’s well-versed what it takes to grow a portfolio in this niche market.

Kevin is the CEO of Sunrise Capital Investors, a firm that helps investors build legacy wealth through commercial real estate investing. Kevin and his team focus on mobile home parks and parking assets, market segments with less competition than other asset classes. He has been a real estate investor since he was 19 years old, and he has specialized in mobile home parks for the last 10 years. Kevin is also the host of the Real Estate Investing for Cashflow Podcast.

On this episode of Financial Freedom with Real Estate Investing, Kevin joins cohost Garrett Lynch and me to discuss the pros and cons of investing in mobile home parks. He explains why he made the commitment to self-manage his portfolio and shares best practices for building your own property management company. Listen in to understand the process of finding mobile home park deals and learn how Kevin built and scaled a successful mobile home park investing business!

Key Takeaways

What Kevin loves about mobile home parks

Very high cash-on-cash returns
Mom-and-pop owners = upside potential
Very low tenant turnover rate

The challenges of mobile home park investing

Difficult to scale (focus on large lots)
Must make commitment to self-manage

How to build a property management company

Add value to established group
Hire from top down, not bottom up

Kevin’s advice on scaling a mobile home portfolio

Grow efficiently, do only good deals
Focus on quality of life

Kevin’s first hires for a property management team

Invest in director of property management
Experienced administrative assistant

What a mobile home park value-add deal looks like

Aesthetic improvements (e.g.: road repair)
Renovate park-owned units
Install new homes on vacant lots
Individual submeters on each lot

Why Kevin prefers selling mobile homes to renting

Little to no profit on renters
Average stay for owners = 9 years

Kevin’s debt strategy for mobile home parks

Fannie and Freddie loans
Community banks or CMBS lenders

How Kevin finds mobile home park deals

Cold call and direct mail prospects
Relationships with brokers

How Kevin gets property owner contact info

Secretary of state site for LLC members
Skip trace software

Why Kevin is getting into parking assets

Cashflow, nice return on investment
Positive future potential

Connect with Kevin Bupp

Kevin’s Website

Sunrise Capital Investors

Real Estate Investing for Cashflow Podcast

Resources

Podcast Show Notes

Access Michael’s Blueprint to Your First Multifamily Deal Training

Learn About Michael’s Mentoring Program

Join the Nighthawk Equity Investor Club

Kevin Bupp on Financial Freedom with Real Estate Investing EP054

Hunter Thompson on Financial Freedom with Real Estate Investing EP087

Apartment Investor Network Facebook Group

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