246: Surviving the Coming Crash, Earning 20% Returns, and Buying Mobile Home Parks with Kevin Bupp

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 28 September 2017

⏱️ 95 minutes

🔗️ Recording | iTunes | RSS

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Summary

When most investors hear the words “mobile home park,” they turn and run the other way. But not today’s guest, who’s found incredible success buying (and repositioning) mobile home parks. You’ll learn how Kevin Bupp got his real estate started with single family homes (eventually owning hundreds) and how that led to major problems in the last real estate crash. You’ll also find out how he’s making sure the next crash is different. Discover the incredible power of mobile home parks in generating huge returns in this less-popular real estate niche by learning Kevin’s story. If you are looking to generate huge amounts of cash flow, this is an episode you can’t afford to miss! In This Episode We Cover: The difference between trailer parks and mobile home parks How Kevin got started Why to not choose single family homes How to “stress test” your deals How (and why) he got into mobile home parks The target market for this investment Some objections to owning a mobile home park The average vacancy Kevin deals with Tips for financing mobile home parks The challenges of analyzing mobile home parks How a mobile home park is valued Advice for adding value to parks What you want to consider when investing mobile home parks How to find mobile home parks And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Facebook BiggerPockets Books BiggerPockets Webinar BiggerPockets Pro Replay Podio Insightly Commercial Real Estate Investing With Frank Gallinelli Credit Karma Breakthrough App Books Mentioned in this Show Set for Life by Scott Trench The Book on Rental Property Investing by Brandon Turner What Every Real Estate Investor Needs to Know About Cash Flow… And 36 Other Key Financial Measures by Frank Gallinelli The Slight Edge by Jeff Olson Tweetable Topics: “There’s like a million and one ways to make money in real estate. You just have to pick one and give it some time.” (Tweet This!) “We want to be in front of the sellers when they either decide to sell or need to sell.” (Tweet This!) “Everyone goes through challenges in their business.” (Tweet This!) “Tomorrow probably will provide the answer if you don’t give up today.” (Tweet This!) Connect with Kevin Kevin’s BiggerPockets Profile Kevin’s Personal Website Kevin’s Company Website Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast show 246 and we saw that happen.
0:07.4	We saw those signs and we started trying to sell we were starting to discount we tried
0:10.9	sell for 85 cents in a dollar, $80 in a dollar,
0:13.5	75 cents and we were like chasing this decline that we just couldn't
0:16.7	catch up to and so simultaneously what happened is a lot of these
0:20.1	speculative builders that had these thousands of rooftop, a brand new three-two two-two's they weren't selling. I mean they weren't these speculative
0:23.4	They weren't selling I mean they weren't selling where there's no owner occupants moving into these things and so
0:29.0	You're listening to bigger pockets radio simplifying real estate for investors large and small.
0:35.8	If you're here looking to learn about real estate investing without all the height, you're
0:39.7	in the right place.
0:41.6	Stay tuned and be sure to join the millions of others who have benefited
0:45.2	from bigger pockets.com. Your home for real estate investing online.
0:50.3	What's going on everybody? This is Josh Dorkin, host to the BiggerPockets podcast here with my co-host Mr. Brandon Turner. What's going on man?
0:58.6	Man, it has been a crazy couple weeks here. And, you know, things are good,
1:04.0	things are really good.
1:05.0	How's your pneumonia?
1:06.0	Man, pneumonia is getting better.
1:09.0	Yeah, yeah, I had a slight pneumonia, that was fun.
1:12.0	And I sold my 24- apartment complex so that was a big deal and I have 45 days or 40 days now to find something to put it in.
1:20.3	So I'm 31 if you guys have a deal send it to Brandon. Thanks. Yeah it's one.
1:23.0	down there doing. Thanks.
1:24.0	Yeah, it's actually one of the reasons today.
	...

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