208: Buying 41 Units on Your First Deal + Mobile Home Park Investing with Jack Baczek

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 5 January 2017

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Most people begin their real estate investing with a small single family purchase. Some even start with a duplex or triplex. But today’s guest on the BiggerPockets Podcast skipped the intro phase and jumped right into a 41-unit property early in his 20s! Today, you’ll learn how Jack Baczek used a strategy not before mentioned on the podcast to invest in 41 units, as well as his transition to mobile home park investing (and why that niche ROCKS). Jack’s story is truly inspirational, and you’ll walk away from this interview inspired, entertained, and pumped up to take massive action on your own business! In This Episode We Cover: How Jack got started with real estate How he stumbled upon what ended up his first deal at age 21 What exactly a fractured condo is How he found his first deal of 21 units How he financed this huge deal A warning against hiring the wrong property manager How having parents who invest in real estate affected him Why he sold the 41-unit property Why he made the shift to mobile home parks What a mobile home park deal looks like Reasons to invest in mobile home parks The changes he made to the park to make it rent-ready Why there’s a bad stigma on mobile parks Why Jack fell in love with direct mail marketing The downsides of owning a mobile home park Where is he now in terms of scaling his business What an assignment fee is Tips for trying to read the market What the next five years look like for Jack And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar BiggerPockets Podcast BiggerPockets Keyword Alerts BP Podcast 111: A Unique (and Profitable) Real Estate Niche You’ve Probably Never Considered with Jefferson Lilly BP Podcast 195: Partners, College Town Rentals, & Mobile Home Parks with Rudy Curtler BP Podcast 075: Mobile Home Investing and Getting Started With John Fedro 9 Loopnet CraigsList Dreamwork Trolls: Sing With Us Books Mentioned in this Show Emerging Real Estate Markets by David Lindahl 30 Days of Successful Due Diligence on Mobile Home Parks by Frank Rolfe & Dave Reynolds The Intelligent Investor by Benjamin Graham Tweetable Topics: “I think having a good market is really important.” (Tweet This!) “I think it’s important to really focus on good deals with value add and upside.” (Tweet This!) “If you get a mediocre deal, chances are it could go sour. I’d rather try and find something that looks really promising.” (Tweet This!) Connect with Jack Jack’s BiggerPockets Profile Jack’s Website Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Want to know why the top investors have so many properties, so much passive income, and seem to always get the best prices?
0:07.5	They're part of an inner circle of experts who help them invest.
0:10.5	And if you're tired of hunting for profitable properties, constantly rehabbing and struggling to fill your empty units, take this as your invitation into that inner circle.
0:19.0	Rad Inner Circle is a team of real estate experts who easily find undermarket deals and flip houses.
0:25.7	You can let the experts take the wheel.
0:27.7	Intercircle is real estate investing done for you.
0:30.4	Want to passively invest in deals and gain equity or cash flow?
0:34.0	Perfect.
0:35.0	Want to know how to find your own off-market properties?
0:37.5	Even more perfect.
0:38.5	The inner circle will help you find deals from residential properties to farmland opportunities.
0:43.2	Get firsthand real estate experience and education,
0:46.3	exclusive investor opportunities, and more with this all-encompassing real estate investing community.
0:51.8	Visit Icrad.com to learn more and sign up today.
0:55.2	That's I see R A D D.com.
0:58.9	That's I see like inner circle R A D D.D-D-C-C-G-G-T-G-T-T-E-N-B-B-B-K-K-K-K-O-G-K-O-D-D-D-G-G-G-G-G-G-G-G-T-G-G-G-G-G-G-G-G-G-G-G-G-G-G-G-G-G-G-G-G-G-G-G-G-I they take a lot of work. In the beginning I was messaging the guests, I was
1:14.2	scheduling the cleaners, I was manually inputting reservations, and I was tired and
1:19.6	if you're a short-term rental host you probably are too but what are you going to do pay a
1:24.1	property manager 30% of your rent uh-huh yeah no not gonna work here's a better
1:29.1	solution can we do the angel choir thing? Oh, perfect.
1:34.0	Hospitable.
1:35.0	Hospitable takes the recurring tasks and guest messaging off your plate at a fraction of the cost of a property manager.
	...

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