3 Secrets to Investing in Mobile Home Parks
Pascal Wagner talks with Brad Rymer about how mobile home park operators find and improve communities, and what investors should look at.
In this interview
Brad Rymer explains how a mobile home community works: in the model he prefers, residents own their homes and rent the lot beneath them, while the owner keeps up the roads and utilities. He describes where an operator starts after buying from a long-time owner, beginning with expenses such as water and sewer before any change to rents. He explains why he compares a community with the others nearby before deciding what to change. He also names three ways operators get into trouble: running a park like an apartment building, raising rents faster than residents can bear, and buying in too many unfamiliar markets at once.
Chapters
- Meet Brad Rymer
- What a mobile home community is
- Lot rent and home rent
- Brad Rymer’s path into mobile home parks
- Improving a community, starting with expenses
- Why Brad Rymer chose this asset class
- Three ways an operator can get it wrong
- Buying several communities in one area
The picture is YouTube’s poster for this episode. Published September 13, 2023 by Pascal Wagner, founder of DealStack. DealStack does not rate or recommend firms. Haven Capital Ventures does not pay DealStack, so this page is not a paid placement.
More interviews
How to Identify Great Operators
Pascal Wagner talks with Lance Pederson about what years of fund administration taught him about operators, fund terms and dilution.
How to Evaluate Self-Storage Investments
Pascal Wagner talks with Kris Benson about evaluating self-storage operators: fees, operating income growth, and what an operator can and cannot control.
Maximizing Your Investment Strategy
Pascal Wagner talks with Pasha Esfandiary about building an investment strategy that fits you, from real estate to investing alongside other managers.