Ep #27: What to Do When Purchasing a Park that Has an Inferior On-Site Management and Maintenance Team in Place

The Mobile Home Park Investing Podcast - Real Estate Investing Niche

Kevin Bupp

Passiveincome, Business, Mobilehomepark, Cashflow, Syndication, Investing, Realestate, Mobilehomeparkinvesting, Kevinbupp, Realestateinvesting

5 • 1.1K Ratings

🗓️ 27 September 2016

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome to the Mobile Home Park Academy podcast. In this episode, Charles and I will be speaking about our recent experience in a park we own in Raeford, NC. We recently acquired this park and quickly realized that both the on-site management and maintenance staff needed to be replaced ASAP! We discuss how we quickly identified the challenges associated with their poor performance and how we handled the transition with a completely new management team. This is a common scenario you will experience when purchasing turnaround or distressed mobile home parks and so we thought you might learn from our personal experience.

Recommended Resources:

Click Here to Grab a free copy of my latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them

Transcript

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0:00.0	Welcome to the podcast that will teach you how to successfully invest in and build steady
0:09.8	streams of passive income from the highly lucrative niche of mobile home park investing.
0:15.0	Veteran real estate investors Kevin Bupp and Charles D. Hart from Mobile Home Park Academy
0:20.0	will personally share with you the valuable lessons they've learned along their journey as mobile home park investors
0:25.8	so that you too can learn how to build massive cash flow and huge profits from this extremely lucrative niche.
0:33.6	So without further ado, let's welcome your hosts for today's show,
0:37.8	Kevin Bupp and Charles D. Hart.
0:39.8	Welcome guys and gals to the Mobile Home Park Academy's
0:42.2	weekly podcast will provide all the
0:44.2	information that you need to know to successfully locate negotiate, close on and
0:48.7	make huge profits from the lucrative niche of mobile home park investing.
0:52.0	I'm your host
0:53.4	along with my co-host and business partner Charles D. Hart. Charles, what's on the
0:58.3	agenda today my friend? Yeah for this one we're gonna be talking about a
1:02.4	park that we own in Fayetteville, North Carolina and we're going to be talking specifically about what to do when you have
1:10.0	Maybe a manager who's who's not very good and then a maintenance man who's not very good
1:14.6	when you take the park over what do you do with those people that's kind of what were we
1:18.4	going into today okay yeah in this park we we kind of knew that going into it we knew that a big part of the problem and it's on a distressed park really I guess it has it has some signs of distress but we knew that the
1:30.0	the heaviest the
1:35.0	was really the management team that was there.
1:34.0	And we didn't know much more than that at the time.
1:36.0	We didn't know how the maintenance crew did
	...

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