In this episode, Jonathan Hayek interviews Walter Johnson of Sonos Capital about mobile home park investing. Walter shares his background in real estate and how he got started in mobile home park investing. He discusses Sonos Capital's focus on value-add opportunities in mobile home parks and the target markets they are interested in. Walter also talks about the importance of seller financing and targeting mom and pop sellers. He shares tips for finding deals and conducting due diligence, as well as insights on raising capital for mobile home park investments. Walter emphasizes the value of community involvement and shares his contact information for listeners who want to learn more.
Takeaways
- Mobile home park investing offers value-add opportunities in the affordable housing sector.
- Seller financing can be a favorable option for acquiring mobile home parks.
- Targeting mom and pop sellers can provide more flexibility in negotiations.
- Due diligence should include reviewing police reports, tax returns, and utility bills.
- Involvement in industry associations can provide valuable education and networking opportunities.
- Learning from both successful and missed deals is crucial for growth in mobile home park investing.
- Direct mail and cold calling can be effective strategies for finding mobile home park deals.
- Building relationships and rapport with sellers can lead to better deal terms.
- Private utilities in mobile home parks can present unique challenges and opportunities.
- Having a clear investment strategy and understanding market dynamics is essential for success.
- Community-based investments like mobile home parks can provide both financial returns and a sense of purpose.
- Continuous learning and networking are key to staying informed and growing in the mobile home park investing industry.
Connect with Walter:
https://sonoscapital.com/
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Email Jonathan with comments or suggestions:
podcast@thesourcecre.com
Or visit the webpage:
www.thesourcecre.com
*Some or all of the show notes may have been generated using AI tools.
