Real Estate Investing for Cash Flow with Kevin Bupp #504 How to Efficiently Manage Manufactured Housing Communities
4 snips
Oct 24, 2022 
Steven Blank, founder of Blank Family Communities, shares his journey from maintenance work to managing thousands of manufactured housing sites. He discusses the evolution of the industry and how consolidation has created opportunities for smaller buyers. Steven emphasizes the importance of technology in property management, detailing operational efficiencies and centralization. He also touches on lessons learned from the Great Recession and staffing challenges post-COVID, providing insights on profitable management strategies in today's market.
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Underwrite Small Parks Realistically
- Avoid using overly aggressive low expense ratios when underwriting small parks; those figures are often unrealistic.
- Adjust expectations for smaller communities' income-expense dynamics before bidding.
Centralize Operations And Use Hubs
- Centralize and automate operations to reduce onsite staffing needs and increase efficiency across markets.
- Use hubs with regional managers who can drive to communities within three hours.
Scale Hubs Around ~300 Sites
- Plan regional hubs to cover roughly 300 sites to justify a dedicated regional manager.
- Keep some onsite staff because corporate teams can't handle all day-to-day calls.
