The BetterLife Podcast: Wealth | Real Estate Investing | Life
ANSWERED: "How Much CASHFLOW Can a Mobile Home Park Make?" (Spoiler: it's a lot!) with Cory Harelson
Nov 1, 2024
Cory Harelson, a successful real estate investor specializing in mobile home parks, shares his journey to financial freedom. He discusses the impressive cash flow potential and profitability of this niche. Cory delves into key strategies like locating smaller parks and building relationships for success. He highlights the importance of leveraging virtual assistants to enhance management efficiency. The episode wraps up with advice for newcomers, emphasizing the accessibility of education and mentorships in mobile home park investing.
27:51
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Quick takeaways
- Mobile home parks offer a compelling investment opportunity with significant cash flow potential, achieving a 12% cash-on-cash return in the first year.
- Effective acquisition of mobile home parks involves strategic outreach and personal connections, as well as a need for tailored property management solutions.
Deep dives
Understanding Mobile Home Parks as an Investment
Mobile home parks represent a unique investment opportunity primarily due to their operational structure and cash flow potential. In this niche, tenants typically own their homes and pay lot rent, which reduces maintenance responsibilities for the park owner. This model allows for less intensive management since the owner is not responsible for home repairs, making it an appealing option for those interested in affordable housing. Given the current crisis in affordable housing, mobile home parks provide a necessary service while also offering favorable returns, as evidenced by the speaker's experience of achieving a cash-on-cash return of 12% in the first year.
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