Storage Wins EP244: Kevin Bupp on the Top 3 Reasons Why You Need to Buy Mobile Home Parks
Kevin Bupp is a mobile home expert and owns several mobile home parks. He is also the host of Real Estate Investing for Cash Flow and The Mobile Home Park Investing podcast. On today's show, Kevin explains why he's passionate about owning mobile homes, some of the reasons why he prefers it over single and multi-family properties, and he also shares his 2008 story where he found himself broke and nearly homeless.
Key Takeaways:
- Kevin had hit some really hard struggles with his business during 2008.
- In his single-family homes, Kevin lost about 18% occupancy within 6 months.
- Kevin was faced with foreclosure on his primary residence, his credit score dropped down to the 500s, and the lawsuits were coming in.
- However, the silver lining was that Kevin met his now wife while he was defaulting on everything.
- If you're struggling financially, there is a way out. Hopefully, Kevin's story inspires you!
- What was Kevin's mindset like while he was going through the downturn?
- Kevin tried to focus on the things he could control, which were his health and fitness.
- In 2011, Kevin made the decision to jump back into real estate.
- How did Kevin get into mobile homes?
- New mobile homes just aren't being built due to the stigma.
- Most tenants who move into a mobile home will stay there forever!
- What are some of the challenges of owning and running a mobile home park?
- However, it can be tricky finding mobile home park owners who want to sell.
- Curious to know more? Reach out to Kevin!
- What's the biggest lesson Kevin has learned so far?
Mentioned in This Episode:
Connect with Kevin: kevinbupp.com and Sunrisecapitalinvestors.com
Real Estate Investing for Cash Flow Podcast
The Mobile Home Park Investing Podcast
Tweetables:
"I went from having hundreds of thousands of dollars line of credit to tons of foreclosures and lawsuits."
"It's really difficult to step out of the bubble you're in and realize there are opportunities when literally there's your blood in the street."
"Chances of getting approval to build a new mobile home park, you'll maybe get 1 out of that 100 you'd get approval, and it would have to be high-end."
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We've made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we'll send you a link to get instant access to the "5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)" video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!