Ep #94: Apartments vs. Mobile Home Parks and why our guest prefers the latter of the two – with Mike Conlon

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 30 November 2015

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week we're going to be doing a follow-up interview with Mobile Home Park Investment expert, Mike Conlon. Mike was our fifth guest almost 2 years ago shortly after 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 learn how he’s been able to acquire more than 2,000 additional mobile home park spaces since we last spoke.

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 & #5 as it will act as a primer to what we discuss in today’s show.

Here's a little taste of what you'll learn from our 2nd interview with Mike:

Details on how he’s been able to acquire an additional 2000+ pads over the past year and a half.
How the use of technology has allowed him to expand his reach outside of NC market where he was primarily focused and now own parks in WI, IL, AL, MD.
The reasons why he has sold more than 1,000 pads over the past year.
Why he and his team are starting to move away from turnaround properties and are focusing more on larger stabilized parks.
How he handles large rent increases when he purchases a park that has rents that are significantly below market rates.
Why relationships and credibility play a major roll when it dealing with mom and pop owners.
Why parks with private utilities don’t scare Mike away, but he prefers not to own parks with waste water treatment plants, but will purchase parks on well and septic.
His experience with raising capital through private placements and the positive impact it’s had on the growth of his business.
Why he doesn’t utilize a rent to own or similar program within his parks.
How he finds quality property managers and what type of compensation he gives.
His thoughts on where we are in the current market cycle.
And much more

Recommended Resources

Download my free success guide, “7 habits of highly successful multi-family investors” by going to 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 Michael and his company, please visit MainStreetMillionaire.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 Bup.
0:30.1	Hey guys, Kevin Bup here with episode number 94 of the Real Estate Investing for Cash
0:35.1	Flow podcast.
0:36.5	Or mentions to help you build and maintain massive amounts of cash flow through income
0:41.0	producing real estate investments.
0:43.3	And this week we're going to be doing a follow of interview with Mobile Home Park
0:46.7	Investment expert, Mike Conlon.
0:49.4	And Mike was actually our fifth guest that we had on the show almost two years ago.
0:55.4	It was shortly after we first launched the show and I thought it would be awesome to bring him back in and get an update on
0:59.7	his business because I have not spoken with Mike since we last had him on the show. And we're going to
1:04.3	speak with him specifically about how he's been able to acquire more than 2,000 additional mobile
1:10.0	home park spaces since we last spoke.
1:12.5	And if you're brand new to the show and you haven't listened to the past episodes and you
1:16.7	know very little about mobile home park investing, then I strongly encourage that you go back
1:21.5	and listen to episode number one and number five. Number five is the actual show that I did
1:26.3	with Mike more than a year and a half ago.
1:28.7	And in episode number one is where I interview Frank Rolf, who is one of the largest private
1:34.1	mobile home park owners here in the United States. So both of those shows will act as a great
	...

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