If you are interested in anything mobile home park — you will want to hop on this podcast ASAP and learn from the best. Literally, Frank Rolfe has information that you cannot find anywhere else. He has been in mobile park investing for three decades, and some call him the godfather of mobile park investing. I’ve spoken with many people about the subject of investing and making some serious cash in mobile park investing — but you’ll quickly notice that Frank is a Rockstar in this arena.
Frank Rolfe is the co-owner of Mobile Home University (CREUniversity)
, which teaches people the exact steps to successfully evaluate, purchase, repair, rent, and sell mobile home parks. This is a playbook you’ll want to take a look at. So please give yourself a gift and listen to this podcast.
Frank Rolfe started his career with a beat-up trailer park that was losing money. It was located on the side of Dallas, where few like to go unless they have to, yet he was able to sell that park for $l million profit. Frank can teach you this business, and I’m grateful for the enlightenment Frank has given me on this subject.
Turn a Mobile Home Park into Income With Minimal Effort
With Frank Rolfe’s business model, almost anyone can learn to do mobile home park investing. He teaches you the ins and outs of CMBS lending and how to protect yourself from inflation that threatens most business ventures. Of course, everyone faces the potential of an economic downturn, and Frank teaches you how to hedge against these downturns.
You will love how Frank Rolfe talks and teaches about why so many mom-and-pop operations tend to lose money on mobile home parks. However, there is no reason to let your finances be devastated in a mobile home park investing situation — the actions are clear, and Frank tells you what has to be done in order to keep the cash coming in.
A Mobile Home Park is Different Than Multi-Family Apartments
“I’m more bullish now on parks than I’ve literally ever been before, simply because the way that the nation is getting more and more screwed up, parks seem to be the only thing on the right side of the dynamic” —Frank Rolfe
I still invest in mobile parks because they are a fantastic way to make money, and I still rely on Frank’s expertise and savvy to answer questions I may have. One of the most significant benefits of investing in mobile home parks is that you can often get the sellers to finance it for you. Win-win all around.
On any real estate property, most people just look at the numbers as is — versus how they can actually run the business to make them a profit. You have to know how to make your financial dreams come true. What should be done differently to break even? Then, what is the next step to start turning things around and making a profit? There are systematic issues in any investing that bring a property around to making you money.
Frank goes through the numbers and his thoughts in the podcast as he begins his first mobile park learning curve. It’s brilliant how his mind grasped how he could quickly turn things around.
The Power of MH Zoning
One issue with an MH Zoning is that it’s a place where you can’t build any more mobile home parks — which somewhat ties back to the zoning issue and that the homes can’t move. When homes can’t move you have owners who will stay in the area.
And then there’s inflation. The issue with inflation that’s now popping up in the news is that it’s suitable for real estate — and great for mobile home parks — because mobile home parks can adjust the rents.
The fantastic part about mobile home parks will always remain — you can adjust rents with very little trouble in more challenging times. No other investment has that benefit.
As Mobile Home Parks Become Rarer — The Value of Investing Raises
From Frank Rolfe:
“When cities stop allowing new parks to be built, that really kicks off the value potential of the parks. But the part right now that most people are investing in beyond the fact that it’s a scarcity model — the fact that you have room to grow the rents makes a difference. And that’s the most remarkable part. When most people model that out, it blows people away — that there is money you can make simply from raising rents. I’m talking nominal raises, not hundreds of dollars. If you have an 80-space park, for example, and you raise that rent up just a nominal amount, let’s say you raise it up $50, that will create about half a million dollars of value. And that’s the real turn-on I feel for most people in the mobile park industry.”
You’ll hear the other drivers that make mobile home investing a great place to place your cash, all talked about in the podcast. I knew the equations were simple — but I love hearing how Frank Rolfe makes the information accessible to anyone willing to dive in and listen. I love his straightforward, clear communication.
What Do We Need to Know About Financing a Mobile Home Park?
Frank Rolfe goes very clearly into the deep waters of investing and getting financing for mobile home parks. Just listening to him — I wanted his brain. He has a way with clarity to unscramble even the deepest of financial concepts that surround mobile park investing.
Frank explains conduit loans, servicers, defeasance costs, Fannie Mae/Freddie Mac, and a whole host of other financial information you will want to access, no matter what you are investing in via real estate. And he walks you through the perfect term on seller finance and assuring a no prepayment penalty.
The Mobile Home Boot Camp
Frank Rolfe and his business partner, Dave Reynolds, are well known in the mobile home industry. A few years ago, I did some research, and everything looked so good — so I decided. to show up at one of Frank and Dave’s weekend boot camps. I was amazed at the stellar information and how I could clearly see my way forward to invest in this exciting area of mobile home investing. I recommend this course to anyone as a way to enrich your investment portfolio.
Image Credit: Brett Sayles; Pexels; Thank you!