Ep. 189 | Case Study: Interview With Frank Rizzo on How To Tackle Value Add Turnaround Projects

Jun 14, 2024

40:36

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Welcome back to the Mobile Home Park Lawyer Podcast! Today, we have an engaging episode featuring Frank Rizzo, co-founder of Stone Capital. Frank is a value-add specialist with extensive experience in redeveloping mobile home parks and other real estate assets.

In this episode, Frank shares his journey in the mobile home park industry, focusing on deep value-add opportunities, infill strategies, and infrastructure improvements. He discusses the importance of thorough market analysis, balancing the challenges of infill projects, and the strategic considerations for acquiring parks with varying occupancy levels.

Frank and Ferd dive into operational tips, including the benefits of early infrastructure improvements, the significance of tree and road work, and the nuanced approach to rent increases. Frank also highlights the challenges and successes of managing multiple parks within the same market and shares valuable lessons learned from his extensive experience.

Tune in now to gain insights on value-add strategies, market dynamics, and practical tips for optimizing mobile home park investments!

Highlights of the episode:

00:00:34 Welcome and introduction of guest Frank Rizo

00:01:05 Frank's background and entry into the mobile home park industry

00:03:15 Balancing infill projects and market absorption rates

00:05:54 Operational challenges and the importance of team logistics

00:13:26 Strategic approaches to rent increases and community improvements

00:27:15 Value-add success story in Laurinburg, North Carolina

00:33:14 Tips and lessons learned for value-add investments

00:39:01 The importance of having a good attorney

Connecting with MHP Law:

Website: https://themobilehomelawyer.com/