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

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

Here’s What You’ll Learn

  • 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

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