EP482: Part 3 - Self-Storage vs. Mobile Home Parks: Which is the Superior Asset Class for Construction & Management?

In Part 3 of this four-part masterclass, we have four great real estate investors who are invested in two different asset classes: Self-storage vs. Mobile homes. On the Self-Storage side, we have Scott Meyers and Michael W. Wagner and on the Mobile Home side, we have Kevin Bupp and Ryan Narus. These four guys battle it out and break down which asset class is best in areas of Acquisitions, Dispositions, Financing, Management, and Construction! This episode dives into construction and management. Btw, all donations that come from this episode will go to fund We Are Graces, a charity in Guatemala that's close to Alex's heart.

Key Takeaways:

• These debates have raised almost $11,000 for the children and families of Antigua Guatemala, so thank you!!!
• Today's debate goes into construction and management!
• The mobile home guys discuss why construction is better in mobile homes.
• The supply in self-storage is everywhere!
• Mobile homes are a scarce and growing asset. You build legacy wealth with mobile homes.
• The guys dive into why self-storage is better.
• When a recession happens, self-storage still prospers.
• Can the big guys come in and squeeze out the little guy?
• You can double your money on a construction that took 3 weeks with self-storage. This isn't a 'one off' deal either. These deals are commonplace!
• The mobile home guys rebuttal.
• Smaller guys CAN get into mobile homes!
• Self-storage guys rebuttal.
• At the end of the day, which of these asset classes is more efficient?
• No matter what, get some mentoring so you understand the financials.
• Why is management better in self-storage? The guys weigh in.
• You can automate so much in self-storage.
• People can move in and out without ever talking to one of the management guys.
• It takes Michael 1-2 hours a week of work to generate all the money his family needs.
• The highest expense in any business is payroll! You don't have that in self-storage.
• The laws are also on your side when it comes to self-storage.
• The mobile guys discuss why management is the better asset class.
• You can automate a lot of the mobile home business too!
• The average tenant stays for 14 years.
• It takes only one employee to manage 100+ pads.
• Most of your time is spent on rent week in the mobile home space.
• Self-storage guys do a rebuttal.
• There are so many horror stories on mobile home park management.
• Sure, tenant-owned homes might be great, but park-owned homes are disastrous.
• The mobile home guys do a rebuttal!
• You can really burn yourself in both asset classes.
• Park-owned homes are not a killer. It's in fact very lucrative.

MENTIONED IN THIS EPISODE:

Connect with Scott: Selfstorageinvesting.com

Connect with Michael and plug into The Storage Rebellion Community

Connect with Kevin: Kevinbupp.com Connect with Ryan: Archimedesgrp.com

IMPORTANT: VOTE for who won the Debate by Making a Donation to Graces, and Gain Access to All the Valuable Self-Storage & Mobile Home Resources

ASCEND:

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. TWEETABLES:

"There's no sugar coating that it's really difficult to build new and building new pads is a pain in the butt in mobile homes."

"We don't have to fight city hall to get a new home put on there with self-storage. We just sweep out the unit and hit a button on the website.."

"Always be looking for value-add, looking for ways to create value when you close on a facility or mobile home park in the beginning. And also get some mentoring."

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