This week we’re going to be doing a follow-up interview with Mobile Home Park Investment Guru, Frank Rolfe. Frank was our very first guest way back in January of 2014 when we first launched the show and I thought it would be awesome to bring him back on to get an update on his business and also dive into a little more detailed discussion about mobile home park investments.
If you are brand new to the show or if you know very little about mobile home park investments, then I encourage you to go back and listen to episode #1 with Frank as it will act as a primer to today’s more advanced show.
Here’s What You’ll Learn
- An update on his business and how he’s been able to amass more than 17,000 pads through 22 different states
- What he likes and dislikes about buying properties from sites like Auction.com
- Why he prefers city provided water/sewer and what you need to consider if you are looking at a park that has private utilities.
- Why some banks don’t like private utilities and what you need to know when shopping for financing.
- The reason why Frank prefers using a loan broker for financing rather than going direct to the lenders himself.
- The method that Frank uses to quickly evaluate a park to determine if it’s a worth pursuing or if it gets sent to the trashcan.
- Why he prefers parks that have a mixture of both older homes and newer, modern homes.
- Why super Wal-Mart is a quick gauge that Frank uses to determine the strength of a small town
- Why strong single family homes prices are demand drivers for mobile home parks
- What things to look out for during your due diligence on the infrastructure on a park
- How Clayton homes CASH program is revolutionizing the industry
- How banks feel about park owned homes and how to properly evaluate them
- How to properly find and hire a quality property manager for your park
- The rule of thumb when raising rents in a mobile home park and things to consider.
- Franks thoughts on investing in Michigan and what he likes about this state.
- And much more
- Frank Rolfe – Company Website
- Download my free success guide, “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
- Schedule a free 30 minute “no obligation” 30 minute call directly with me by clicking this link https://www.timetrade.com/book/KV2D2
- Looking to invest in Mobile Home Parks? Want to partner with me personally on a deal? Click this link to schedule a time for us to talk https://www.timetrade.com/book/FGF7S
- Learn more about Mike and his company, please visit www.MobileHomeUniversity.com