One of the most overlooked real estate investments has to be mobile home parks. But Frank Rolfe has a very different outlook about these properties and has carved out an incredible real estate portfolio to become a legendary mobile home park investor.
His very first purchase was over 20 years ago, and now he’s the 5th largest owner of mobile parks in the US! With his partner Dave Reynolds, they now own properties in 25 states, in 250 communities and have truly made an impact in this sector by improving the quality of life for their residents, despite increasing their rent when necessary.
After running a successful billboard business, he saw an opportunity to buy his first mobile home park and was immediately intrigued by the potential. If you haven’t heard the story of how he purchased his first park for $400,000.00—while only investing $10,000.00 of his own money, you’re in for a real treat.
Frank teaches others how to get started at Mobile Home University. He’s also the host of The Mobile Home Park Mastery Podcast, which is a fantastic resource to learn about this asset class.
If you’ve ever thought about getting involved in real estate investing, but never considered mobile home parks, you don’t want to miss this episode with Frank Rolfe. You’ll hear Frank share the unique advantages of mobile home park investing, the win-win opportunities that they offer and the incredible value that you just don’t find in other properties.
Key Takeaways with Frank Rolfe
- The importance of transparency in providing quarterly and annual reporting.
- Why Frank decided to invest in mobile home parks as opposed to other residential or multifamily investing properties.
- Why the affordable housing aspect was a key factor in Frank’s decision to invest in mobile home parks.
- The importance of having a “moat”—the security to de-risk your investment deals.
- The 5 things to look for when considering purchasing a mobile home park.
- Why increasing the rent is the easiest money-maker since rents are generally so incredibly low.
- Why Frank’s goal is to focus on the land rental aspects, and not the rent-to-own side of mobile home park investing.
- The backstory on how Frank pivoted from being in the billboard business to his first mobile home park investment with a $400,000.00 deal!
- How this is a win-win business, despite raising rents, which adds value to both the residents and local governments.
- The importance of due diligence and applying science to every deal.
- How the recession in 2008 turned out to be one of the best times in the industry.
- Frank’s favorite ways to find partners and funding.
Want the Full Show Notes?
To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/215
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