Ep #76: Advanced Mobile Home Park Investing discussion with the 6th largest park owner in the US - Frank Rolfe

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 30 June 2015

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 #1with Frank as it will act as a primer to today's more advanced show.

Here’s a few things you’ll learn in our interview with Frank today:

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

Recommended Resources:

Download my free success guide, “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
Learn more about Mark and his company, please visit www.MobileHomesUniversity.com

Transcript

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0:00.0	You've been searching for the best way to generate passive income in your life and heard that real estate is a great way to do it.
0:09.4	But you're tired of all the so-called gurus who are all talk and no substance.
0:15.3	Get ready to celebrate because Kevin Buck has spent 14 years successfully making it happen.
0:21.8	This is the Real Estate Investing for Cashflow podcast.
0:25.2	Now, here's Kevin Buck.
0:30.3	Hey guys, Kevin Bup here with episode number 76 of the Real Estate Investing for Cashflow
0:35.4	Podcast.
0:36.5	Our mission is to help you build and maintain massive amounts of cash flow through
0:40.3	income producing real estate investments.
0:43.0	This week, we're going to be doing a follow-up interview with Mobile Home Park Investment
0:47.2	guru, Frank Roth.
0:49.2	Frank was our very first guest way back in January 2014 when we first launched our show. And I thought it would
0:56.3	be awesome to bring him back on to get an update on his business and also to dive a little deeper
1:00.8	into the detailed discussion about mobile home park investments in their operations.
1:05.7	If you're brand new to the show or if you know very little about mobile home park investments,
1:10.3	then I really encourage you to go back and listen to episode number one prior to the show, or if you know very little about mobile home park investments, then I really
1:11.1	encourage you to go back and listen to episode number one prior to listening to this show
1:16.3	as episode number one will act as a primer because we really just talked in generalities about
1:21.4	the topic of mobile home park investing, whereas on this show, we're going to dive
1:25.7	pretty deep into the overall operations of a mobile home park investment. So if this show, we're going to dive pretty deep into the overall
1:27.6	operations of a mobile home park investment.
1:30.4	So if you haven't done so already, go back to listen to episode number one and then come
	...

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