JF3327: Tyler Lekas - 5 Mobile Home Park Investing Mistakes to Avoid

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7 • 996 Ratings

🗓️ 14 October 2023

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is brought to you by Presario Ventures, a private equity real estate firm based in the booming Austin, Texas, market. To learn how to invest in the future of Texas with Presario Ventures, visit info.presarioventures.com/bestever. Seasoned investor Tyler Lekas breaks down the multifaceted world of mobile home park investing. Diving deep into the challenges, nuances, and key strategies of the trade, Tyler offers invaluable insights from his years of experience in the field. Whether you're a newbie or a seasoned pro, this discussion promises to shine a light on the pitfalls to avoid and the best practices to embrace. Key Takeaways: Operational Complexities Can Make or Break Returns: Many investors underestimate the myriad of operational challenges in mobile home park investing. From utilities to park-owned homes, it's essential to understand the intricacies of each variable. A miscalculation or oversight can drastically impact ROI. Beware of Broker Assumptions: Not all brokers fully grasp the nuances of the mobile home park sector. As Tyler highlights, brokers may oversimplify challenges, like filling vacant pads. Investors need to perform thorough due diligence and avoid taking broker assumptions at face value. Insurance is Paramount: Tyler emphasizes the importance of being adequately insured, especially in an asset class as unique as mobile home parks. From ensuring park-owned homes to understanding the complexities of general liability, proper insurance can save investors from potential pitfalls and unexpected costs. Tyler Lekas | Real Estate Background Co-Owner of MHCI Group Portfolio: Mobile home communities (752 pads, $30MM AUM) Based in: Little Rock, AR Say hi to him at: LinkedIn Best Ever Book: Extreme Ownership by Jocko Willink Greatest Lesson: Owning MHCs is way more in-depth than just "owning the dirt and collecting lot rent". Do your due diligence into the asset class before diving in, so you don't bite off more than you can chew. Click here to learn more about our sponsors: Presario Ventures Rentec Direct Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Did you know that within a decade women will hold $30 trillion in investable assets?
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0:48.0	To learn more and to get your tickets, visit InvestHERCON.com today and use the code 100 best ever to get $100 off your ticket.
0:57.0	That's Invest Her, H-E-R-K-D-K-G-K-G-K-K-K-K-K-K-K-K-K-Kom, promo code 100 best ever to get $100 off your ticket.
1:05.0	Quick disclaimer, the views and opinions expressed in this podcast are provided for
1:09.0	informational purposes only and should not be construed as an offer to buy or sell any securities or to make or
1:15.5	consider any investment or course of action. For more information go to Best Ever Show.com.
1:21.7	When you go buy a majority park-owned home, mobile home parks,
1:25.2	buy at a discount and don't try and convert the runners too fast
1:29.1	because you will have vacancy.
1:30.2	Welcome to the Best Ever Show, the world's longest running daily commercial real estate podcast.
1:35.0	Our hosts interview commercial real estate experts every day to get you the best ever
1:43.4	ever listeners welcome to the best real estate investing advice ever
1:46.6	show today's episode is brought to you by Presario Ventures a private
1:50.6	equity real estate firm based in the booming Austin Texas market.
1:54.7	To learn how you can invest in the future of Texas with Presario ventures, visit info.
	...

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