In this episode of the Mobile Home Park Investing Podcast, Kevin shares the mic with Mike Johnson, Owner of the blog Perpatualsaturday.com, and owner of 3 Mobile Home Parks.
Mike is passionate about helping others retire in 12 months, no matter where they are financially. Impossible? Think again: Mike landed on the asset class of Mobile Home Parks to fund his retirement.
He is now the owner of 3 Mobile Home Parks, which are made 95% passive by hiring the right managers to run them.
HIGHLIGHTS:
[7:22] What is Mike’s background?
[12:50] What did Mike’s first deal look like?
[17:33] Mike shares his story of fixing his first park’s septic issues
[23:03] What did Mike’s 2nd & 3rd MHP deals look like?
[26:20] Mike’s advice on owning rural parks
[28:41] Mike’s biggest mistakes in the MHP business.
[31:20] How to find the right managers to oversee your parks.
[34:12] The importance of Work-Life Balance, and how Mike is able to achieve it
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In this episode of The Mobile Home Park Investing Podcast, Kevin shares the mic with Damian Bergamaschi, Fund Manager of Damris Capital.
Throughout his lifetime -- from childhood to now -- Damian’s affinity for the markets led him to a career in finance; initially as a quant creating conditional models to predicting financial outcomes over time, to eventually landing on Mobile Home Parks as a desirable asset class to create a fund around.
Through his work at Damris Capital, Damian has combined his knowledge in Real Estate with utilizing big data and quantitative analysis to create a unique approach to Mobile Home Park investing; Continuing to leverage his knowledge for the good of his customers.
HIGHLIGHTS:
[8:57] Damian’s background, and how his experience as a quant carries over to investing.
[12:18] How and why did Damian start exploring the asset class of mobile home parks?
[15:57] Damian’s investment philosophy, and “Hometown Bias” explained.
[19:25] What are other asset classes Damian shys away from?
[22:42] Damian’s first Mobile Home Park Deal
[25:09] Opportunities in the “Tiny Home” trend
[32:12] The key qualities Damian looks for in a Mobile Home Park Operator & Sponsor
Recommended Resources:
Since starting his investing career in 2012, Brian founded Alabama Cash Deals, Inc., a marketing company that locates property bargains throughout central Alabama. In 2016, he founded a brokerage firm that goes by the name 205 Realty. He is also the founder of the Alabama Real Estate Investor
Association (AlaREIA), which is a popular local real estate education platform.
Click Here to Gain Access to the Newly Revamped Deal Finders Formula
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Snickfish is a Title Management company focused in Mobile Home Real Estate, Mechanic, and Storage Facility Markets.
If you’ve spent any time around the mobile home park niche then you’ve surely familiar with abandoned mobile homes and the challenges that are sometimes associated with them. And if you currently own a mobile home park, then you might even have a few abandoned mobile homes in your park now and have no clue how to handle them. Case in point, if you intend to enter into this niche, then you will need to get familiar with the abandoned title process of the state in which your park resides.
Residents abandon mobile homes for a variety of reasons: eviction, loss of job and can’t afford to move, death, skipping town, mobile home is dilapidated and they can’t afford to fix it, and the list goes on and on.
The goal is to obtain the legal ownership of that home so that you can either renovate it and resell or legally remove it from your property. And that is sometimes easier said than done. It’s challenging to stay current with State laws and regulatory mandates governing abandoned property. Mobile Home Park owners and Property Management companies are constantly battling the State, local courts, and the DMV bureaucracy. What works today might not work tomorrow.
Snickfish just might be the service that will help you solve your abandoned home challenges.
Click Here to Gain Access to the Newly Revamped Deal Finders Formula
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