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EYL #180 Make a Fortune with Mobile Home Parks · Earn Your Leisure

• 0:00
  Speaker 1: Behind the delivery trucks that keep your life stocked. Thousands
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  Speaker 1: of employees at BP go to work every day. People
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  Speaker 1: bringing a new offshore production platform online. People making our
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  Speaker 1: refineries capable of more like making renewable diesel from agricultural waste.
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  Speaker 1: People trading and shipping fuels to our customers, and people
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  Speaker 1: helping truckers fill up and get maintenance at our convenient locations.
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  Speaker 1: They're part of almost three hundred thousand jobs VP supports
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  Speaker 1: across the country. Learn more at VP dot com. Slash
• 0:28
  Speaker 1: investing in America.
• 0:30
  Speaker 2: If I have the title and Sharnie says, hey, I
• 0:33
  Speaker 2: can help you, I'll sell you. I mean I'll buy
• 0:34
  Speaker 2: a home from you, right cool, And she's the highest bidder.
• 0:38
  Speaker 2: Now she can go buy the home. She's a title owner,
• 0:40
  Speaker 2: and she can go to RASHAA like, yo, I'm the
• 0:42
  Speaker 2: title owner. So unless you're gonna give me thirty K
• 0:46
  Speaker 2: for this house, I'm moving in. And Sean can be like,
• 0:49
  Speaker 2: either I will pay you that or no? All right cool.
• 0:51
  Speaker 2: Now she's taking that home Detroit. She own asset.
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  Speaker 3: My graduates from my school being forced.
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  Speaker 2: Bad and drop bag drop Mike, drop back drop drop.
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  Speaker 4: All right, guys, Welcome back, e y L. This is
• 1:17
  Speaker 4: a reunion episode.
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  Speaker 5: Yeah, so.
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  Speaker 6: Sharnese and Byron.
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  Speaker 4: This is an interesting situation because the first episode actually
• 1:27
  Speaker 4: happened like we didn't plan it. So I'll give you
• 1:31
  Speaker 4: the backstory. About two and a half years ago, we
• 1:33
  Speaker 4: did a networking event in Chicago and I think at
• 1:37
  Speaker 4: the Bureau Bar Ye shot shot. So that was our
• 1:41
  Speaker 4: first time. That was my first time ever in Chicago,
• 1:44
  Speaker 4: our first time in Chicago as Ealsia, and it was
• 1:47
  Speaker 4: a vibe the fact everybody came out show love and
• 1:52
  Speaker 4: Byron actually had walked up to me, introduced himself and
• 1:55
  Speaker 4: was telling me like what he does, and you know,
• 1:58
  Speaker 4: it happens all the time, people doing all the time.
• 2:00
  Speaker 4: We made it interesting is that it's something that I
• 2:02
  Speaker 4: never really heard of with mobile home investing, and I
• 2:06
  Speaker 4: never heard up until that point. I was calling it
• 2:08
  Speaker 4: trailer so mobile home investing things. I'm like, all right,
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  Speaker 4: this is interesting. So we had some time and I'm like, yo,
• 2:17
  Speaker 4: we should do this episode. I think I told Mike, like, Yo,
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  Speaker 4: I met these people they do mobile homes. That's like interesting, we.
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  Speaker 6: Should do this.
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  Speaker 4: They're like when you want to do it, like tomorrow,
• 2:28
  Speaker 4: Like all right, well, sure, let's do it.
• 2:30
  Speaker 5: So I think we spoke after that too. Yeah, they
• 2:35
  Speaker 5: said we're gonna do what, we're gonna do it.
• 2:37
  Speaker 4: So we actually did it and we didn't have like
• 2:40
  Speaker 4: a studio, so we did it in their home.
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  Speaker 5: Mourn actually actually what we want to do, the Downing brothers,
• 2:46
  Speaker 5: and we saw them like, yo, we we're gonna do this.
• 2:48
  Speaker 5: We're gonna do it here to the house, all right,
• 2:52
  Speaker 5: we don't know what like that.
• 2:55
  Speaker 4: Yeah, yeah, so we went to the South Side. We
• 2:58
  Speaker 4: got it done, and it actually turned out for a
• 3:01
  Speaker 4: long time, it was the number one episode on YouTube
• 3:03
  Speaker 4: definitely for a while. I'm still in the top ten.
• 3:08
  Speaker 4: So it's one of these episodes that just caught wildfire
• 3:11
  Speaker 4: number forty one for those not it's not playing, stop playing,
• 3:14
  Speaker 4: right So but since then, you know, a lot has changed.
• 3:22
  Speaker 4: So since then they got engaged.
• 3:25
  Speaker 5: Congratulations on that.
• 3:32
  Speaker 6: Number one.
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  Speaker 4: They moved on up from the south from the south
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  Speaker 4: Side to downtown. There's got a whole vibe downtown, driving
• 3:44
  Speaker 4: range rovers, living, clipping the dream. But what also happened
• 3:49
  Speaker 4: during that period of time, and this is the interesting part.
• 3:52
  Speaker 4: So at the end of the episode, so when we
• 3:54
  Speaker 4: first met them, they was investing in mobile homes, like
• 3:57
  Speaker 4: individual mobile homes at the end of the ES so
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  Speaker 4: they said like their goal was just transitioning into buy
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  Speaker 4: a mobile home park, and now that's actually in reality
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  Speaker 4: and they actually own two mobile home parks right in fact,
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  Speaker 4: with two more mobile home parks under contract, with a
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  Speaker 4: total of one hundred and seventy three mobile homes. So
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  Speaker 4: I thought it would be a perfect time to have
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  Speaker 4: a follow up conversation with your plans on scaling for
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  Speaker 4: your personal business brand.
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  Speaker 2: And so we definitely want mobile home parks. So the
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  Speaker 2: larger goal with that is to get an acquisition where
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  Speaker 2: we find somebody who has a portfolio ten twenty mobile
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  Speaker 2: home parks just looking kind of just to retire, right,
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  Speaker 2: and then pretty much purchased that portfolio and just build
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  Speaker 2: from there and really open up the floodgates for more
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  Speaker 2: people to invest in mobile homes.
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  Speaker 4: And throughout that, you know, they have education, they've been
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  Speaker 4: teaching people on social media.
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  Speaker 6: So this is a dope before you go in, right.
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  Speaker 5: I remember like after that episode, yeah, I did like
• 4:54
  Speaker 5: a free webinar and I was like, i'mna sign up
• 4:56
  Speaker 5: for this, and I forgot that day and then I
• 4:58
  Speaker 5: couldn't sign up for a free for the next.
• 5:00
  Speaker 2: Three months of packed us out.
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  Speaker 6: It was crazy.
• 5:07
  Speaker 2: Nothing was to say, nothing was to say that's the album.
• 5:11
  Speaker 6: Nothing was the same.
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  Speaker 7: That was the original fact one. It was damn Alex
• 5:20
  Speaker 7: trapped that a lot of people those two months. So, yes,
• 5:30
  Speaker 7: this episode, I'm looking forward to it because it's the
• 5:33
  Speaker 7: transition and now we're going to have the conversation of
• 5:36
  Speaker 7: Mobile Home Park Invested.
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  Speaker 6: So first and foremost, welcome.
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  Speaker 2: Back, man, Thank you all for having us.
• 5:44
  Speaker 5: Yeah, I'm like, you know what the bath.
• 5:51
  Speaker 2: We're in the Mecca right now, see.
• 5:54
  Speaker 5: Each other so many times.
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  Speaker 4: Yeah, yeah, this this is the where it all started
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  Speaker 4: for us.
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  Speaker 6: Up now we so all right, so let's get into
• 6:05
  Speaker 6: this conversation.
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  Speaker 4: So how you said you was going to do it,
• 6:09
  Speaker 4: but how did you actually get into Mobile Home Park Investing?
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  Speaker 6: Yeah?
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  Speaker 2: Man, so it was dope to declare, you know, on
• 6:16
  Speaker 2: the episode, but you know, after that, it was a
• 6:19
  Speaker 2: huge influx, right, We had a lot of people hitting
• 6:20
  Speaker 2: us up and actually our partner had reached out to
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  Speaker 2: us like, yo, you know I saw the episode. You know,
• 6:25
  Speaker 2: you guys knew what you were talking about. I have
• 6:27
  Speaker 2: some communities in Indiana if you want some houses, you know,
• 6:30
  Speaker 2: come out and take a look. One took a look.
• 6:32
  Speaker 2: The deal didn't really work. He's gonna get me nineteen
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  Speaker 2: free houses. I couldn't find anybody to do the work
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  Speaker 2: out there, so I'm like, yo, man, but I'm interested
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  Speaker 2: in getting the space.
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  Speaker 8: Man.
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  Speaker 2: So you come across a deal like, man, we you know,
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  Speaker 2: we game because I was looking, but I kind of
• 6:45
  Speaker 2: needed that guidance as well. And so sure enough that
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  Speaker 2: email came across, like y'all got this fifty one unit.
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  Speaker 2: You know, I'm looking for a few partners fifty thousand buying,
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  Speaker 2: Like say, let's like, let's go ahead and get in
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  Speaker 2: and jump right onto this. And man, shout out our
• 7:01
  Speaker 2: partner Charlie. Man end up quarterbacking that deal, and we
• 7:03
  Speaker 2: got a first hand to see how everything was done
• 7:05
  Speaker 2: so we can learn the process. But again, shout out
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  Speaker 2: to y'all, you know, for being a connect on that
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  Speaker 2: because you know, he saw us, you know, from ey
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  Speaker 2: L and trusted us, and man, that's how we end
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  Speaker 2: up making that first one happen.
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  Speaker 5: So you got fifty thousand dollars for fifty one homes.
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  Speaker 2: So he originally initially raised three fifty The park. We
• 7:22
  Speaker 2: got that that part sorry, the purchase price for one
• 7:26
  Speaker 2: point one so we had to raise thirty percent of
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  Speaker 2: that put up the three hundred and fifty k. So
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  Speaker 2: we was parked, you know, partially investors on that and yeah, man,
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  Speaker 2: we ended up locking it down. We went that's the
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  Speaker 2: video we actually have on YouTube. We went to go
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  Speaker 2: see the park and man, it was it was just
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  Speaker 2: it was special saying that. You know what we really said,
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  Speaker 2: you know what was gonna happen is that?
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  Speaker 5: So that's that's the video when you're walking through and
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  Speaker 5: people don't know.
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  Speaker 6: Like y'all do.
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  Speaker 5: Yeah, yeah, crazy, yeah, yeah gotcha?
• 7:56
  Speaker 6: Yeah So what all right?
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  Speaker 4: So walk me through that process and fine, mobile home Like,
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  Speaker 4: how much did it cost?
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  Speaker 6: Again? Mobile park?
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  Speaker 2: So that's mobile home park was one point one million?
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  Speaker 6: So how'd you get the financing?
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  Speaker 2: So we used a small community bank. So that park
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  Speaker 2: is actually in Greensburg, PA. And that's one thing if
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  Speaker 2: you look at for mobile home parks, you either want
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  Speaker 2: to go to a credit union or a credit union
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  Speaker 2: or a small local bank because they're more they're more
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  Speaker 2: willing to finance a smaller deal, right, and also there's
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  Speaker 2: more lenders that come out now so we end up
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  Speaker 2: locking up the finance and again thirty percent down. A
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  Speaker 2: few of us put up, you know, fifty k apiece
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  Speaker 2: and that's how we end up locking that one down.
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  Speaker 5: So the Indiana deal didn't work because you didn't have
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  Speaker 5: anybody to I guess refurbish the properties, correct, yea. So
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  Speaker 5: like when y'all got this one, it was like, all right,
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  Speaker 5: number one, was there a lot of work that had
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  Speaker 5: to be done? And if so, like did you have
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  Speaker 5: a team on the ground or do the partner's going
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  Speaker 5: to get how that work?
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  Speaker 6: Yeah?
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  Speaker 2: So the beautiful thing about buying a mobile home park
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  Speaker 2: were always looking for It's like buying a business. So
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  Speaker 2: it had intricate pieces, it had already a team of
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  Speaker 2: repair and on site. They had a park managing in place,
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  Speaker 2: so they had equipment. So for us going in, we
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  Speaker 2: just add value. So the biggest thing we had to
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  Speaker 2: do is feel the empty homes, right, feel or feel
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  Speaker 2: the empty pads which are empty lots with no homes
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  Speaker 2: on it. So that was part of part of when
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  Speaker 2: we got the actual financing forward. We wanted to go
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  Speaker 2: ahead and have enough cash so that way we can
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  Speaker 2: put new homes on there as well.
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  Speaker 5: So that the property actually has space for you to
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  Speaker 5: add to it.
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  Speaker 6: Yeah.
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  Speaker 5: Perfect. Now you said that there's a couple of roles
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  Speaker 5: that you need to have in the park. Can we
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  Speaker 5: run down again, So like a property manager, I assume
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  Speaker 5: what other roles that we need to have With buying
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  Speaker 5: an entire park, for.
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  Speaker 8: Sure, I would say with buying a park, you definitely
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  Speaker 8: so you definitely want to have your park managing place.
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  Speaker 8: But to take a step back, before going through the
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  Speaker 8: process of actually purchasing a mobile home park, you definitely
• 9:49
  Speaker 8: want to have a great CPA. You want to have
• 9:52
  Speaker 8: a great attorney who understands commercial real estate but really
• 9:56
  Speaker 8: excusing an attorney who has done mobile home parks and
• 9:59
  Speaker 8: who have has worked with investors who have purchased land.
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  Speaker 8: So you want to have that. And then you want
• 10:05
  Speaker 8: to have a great wholesaler who can do the proper
• 10:08
  Speaker 8: due diligence. So before let's just say, if I'm looking online, right,
• 10:12
  Speaker 8: so I'm gonna drop a few sources with people who
• 10:15
  Speaker 8: want to just source where they can find mobile home
• 10:17
  Speaker 8: parks available. One website is mobile home parkstore dot com.
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  Speaker 8: It's a great website where you can go and just
• 10:22
  Speaker 8: source any type of parks that's available. So nine times
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  Speaker 8: out of ten, who's listing the parks on there is
• 10:27
  Speaker 8: the brokers. So the beautiful thing about brokers is that
• 10:30
  Speaker 8: once you build that relationship and you communicate with them,
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  Speaker 8: they'll have access to what we call pocket listing. So
• 10:36
  Speaker 8: pocket listings, we know it's off market deals, so they'll
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  Speaker 8: have even some off market deals or parks that may
• 10:42
  Speaker 8: not even be listed online. So that's another way just
• 10:44
  Speaker 8: kind of source some deal, sayce again not listed. So
• 10:48
  Speaker 8: once you say once you see, excuse me, a park
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  Speaker 8: that you're interested in, the first step is due diligence.
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  Speaker 8: You want to get in contact with the municipality, so
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  Speaker 8: the county records department make sure that the land is
• 11:01
  Speaker 8: zoned for mobile homes, so you want to make sure
• 11:04
  Speaker 8: that is properly zoned.
• 11:05
  Speaker 9: You want to make sure that there's no cold violations.
• 11:07
  Speaker 9: Same thing.
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  Speaker 8: You want to contact your county health department to come
• 11:10
  Speaker 8: out and assess the water. You want to make sure
• 11:12
  Speaker 8: that the water has no cold violations as well. So
• 11:15
  Speaker 8: that's just kind of like the back end of the
• 11:17
  Speaker 8: due diligence that's needed before you even looking to purchase
• 11:20
  Speaker 8: in a mobile home community.
• 11:21
  Speaker 5: All the things we're not thinking.
• 11:22
  Speaker 9: Of, right, right, right?
• 11:26
  Speaker 6: So then did you sell that?
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  Speaker 2: Yes, so we end up selling that park. We got
• 11:31
  Speaker 2: it in July of twenty twenty, We ended up selling
• 11:34
  Speaker 2: that one. In November of twenty twenty one, we end
• 11:38
  Speaker 2: up selling it. So we end up selling it for
• 11:39
  Speaker 2: two point three million.
• 11:41
  Speaker 4: So you purchased it for one one million, you sold
• 11:44
  Speaker 4: it foot two point three yep, so you you made
• 11:47
  Speaker 4: a one point three dollar profit.
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  Speaker 6: Yes, So how did that happen? Why did it appreciate
• 11:52
  Speaker 6: so much?
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  Speaker 2: So after the pandemic. What happened was the mobile home
• 11:56
  Speaker 2: park space was one of the best asset classes in
• 11:59
  Speaker 2: real estate is far collecting full rent roll because it's
• 12:01
  Speaker 2: affordable housing. So people were still paying their you know,
• 12:04
  Speaker 2: paying their rent and so it made it very attractive,
• 12:07
  Speaker 2: very attractive. So now you saw larger players, the Blackstones,
• 12:11
  Speaker 2: the Northwestern Mutuals, these large institutions I started to come
• 12:14
  Speaker 2: into the play like whoa hold on? Like these cash
• 12:16
  Speaker 2: flowing these some decent assets. So now larger players. So
• 12:19
  Speaker 2: now you have you know, investors like us and you
• 12:22
  Speaker 2: know other investors like uh, oh, hold on, I think
• 12:25
  Speaker 2: we could put up we could put it on top
• 12:26
  Speaker 2: dollar now because even still to this day right now,
• 12:28
  Speaker 2: like mobile home parks, it just the prices went up,
• 12:31
  Speaker 2: you know, fifty one hundred percent just because of the
• 12:34
  Speaker 2: cash flow, and so you know, just with that, it
• 12:37
  Speaker 2: was just a hot time to sell, and we ended
• 12:39
  Speaker 2: up putting on the market and we actually had some
• 12:41
  Speaker 2: issues kind of getting houses filled, you know, with the
• 12:43
  Speaker 2: whole you know, the rent momatorium and things like that.
• 12:47
  Speaker 2: We have few tenants not paying and things, but we
• 12:49
  Speaker 2: were still you talking about able to double our profit.
• 12:51
  Speaker 5: That's crazy.
• 12:52
  Speaker 6: Is there Section eight tennis? Then?
• 12:55
  Speaker 2: So not in our particular park. So there's very rare
• 12:58
  Speaker 2: that you're gonna find Section eight tennis. And the reason
• 13:01
  Speaker 2: why is because more so there Section eight is more
• 13:04
  Speaker 2: geared to for apartments. All right, so when it comes
• 13:07
  Speaker 2: to mobile homes, you have some very some but we
• 13:09
  Speaker 2: really the only affordable housing sector that you don't necessarily
• 13:12
  Speaker 2: need Section eight that you can afford. So we don't
• 13:15
  Speaker 2: really get too much help from the government and things
• 13:17
  Speaker 2: like that. Now I knew Ben Carson was actually talking
• 13:19
  Speaker 2: about when the administration was in he wanted to put
• 13:23
  Speaker 2: manufactured homes to allow that, you know, because people can
• 13:25
  Speaker 2: pay off the homes and then the government will pretty
• 13:27
  Speaker 2: much save money. But that didn't get passed, so we're
• 13:29
  Speaker 2: still hoping that this administration looking to it.
• 13:32
  Speaker 5: So when y'all bought the mobile homes, we talked about
• 13:34
  Speaker 5: insurance obviously because it was not really like a house, right, right,
• 13:38
  Speaker 5: A do the same rules apply when we're talking about
• 13:41
  Speaker 5: a park? Are we like, how do we ensure that?
• 13:43
  Speaker 5: What's like, what's the taxes on?
• 13:44
  Speaker 6: As?
• 13:45
  Speaker 5: Is it the similar situation if we're buying individual mobile homes?
• 13:49
  Speaker 2: No, So the taxes. What I love about the taxes
• 13:51
  Speaker 2: especially depends that most parks are in rural America, right,
• 13:54
  Speaker 2: So the taxes are cheap. I think on our particular park,
• 13:57
  Speaker 2: our taxes less than seventy thousand dollars right on that
• 14:00
  Speaker 2: asset for the year. And so the people pay personal
• 14:04
  Speaker 2: property taxes, so if whoever owns, they don't necessarily have
• 14:07
  Speaker 2: to pay the land tax. We pay the land tax.
• 14:09
  Speaker 2: But again you're talking about less than seven thousand dollars
• 14:11
  Speaker 2: for over five acres, right, So, so again it's a
• 14:21
  Speaker 2: it's a definitely a great way to save taxes. And
• 14:24
  Speaker 2: then you talk about insurance. Normally for us we also
• 14:27
  Speaker 2: we do pay insurance, right but for each individual home.
• 14:30
  Speaker 2: We make sure our tenants have insurance on you know,
• 14:33
  Speaker 2: that their mobile home is covered as well.
• 14:35
  Speaker 6: So as a mobile home park owner, do you own
• 14:38
  Speaker 6: every home?
• 14:39
  Speaker 2: So for us, the goal is not to right, you
• 14:41
  Speaker 2: have some mobile home park owners that do. But the
• 14:44
  Speaker 2: reason for us we want to have our tenants to
• 14:46
  Speaker 2: own their homes because what it helps us to do
• 14:48
  Speaker 2: we just own the land. We're leasing the dirt.
• 14:51
  Speaker 4: So okay, that's interesting. So the one point one was
• 14:56
  Speaker 4: just for land.
• 14:58
  Speaker 2: With homes included. Yeah, so you did own the home,
• 15:01
  Speaker 2: so we did, and then what we know. So what
• 15:03
  Speaker 2: we do from there is that's when we go in
• 15:05
  Speaker 2: and we pretty much create seller finance and so we
• 15:07
  Speaker 2: can come and say, hey, listen, you know what we see.
• 15:09
  Speaker 2: You've been renting from us. Let us let us help
• 15:11
  Speaker 2: you own your own asset now. Right, So now we
• 15:14
  Speaker 2: can help them, you know again, they'll have it, can
• 15:16
  Speaker 2: put them on a monthly term. They own their home,
• 15:18
  Speaker 2: they have their title and so now again they just
• 15:21
  Speaker 2: paid for the lot rent, which is what they paid
• 15:23
  Speaker 2: for like the amenities of the park. And the reason
• 15:26
  Speaker 2: why we do that is, for one, the responsibility because
• 15:29
  Speaker 2: the more homes we own, if anything, goes wrong, then
• 15:31
  Speaker 2: my maintenance men have to go to each individual house
• 15:34
  Speaker 2: to fix. But as a homeowner, they gonna take more
• 15:36
  Speaker 2: pride into their house. They're more likely not to tear
• 15:38
  Speaker 2: it up less. And then the beautiful thing about it
• 15:41
  Speaker 2: when it's when we want to sell. Now they're able
• 15:44
  Speaker 2: to get bank financing because a bank is more inclined
• 15:47
  Speaker 2: to loan to more tenant own homes than versus park
• 15:52
  Speaker 2: owned homes because it's basically a less risk.
• 15:55
  Speaker 4: So how many homes was on that fifty You owned
• 16:00
  Speaker 4: all fifty one homes at the beginning.
• 16:02
  Speaker 2: Of it, no Ah Man, So I think the one
• 16:07
  Speaker 2: I don't know how to accurate number, but I think
• 16:08
  Speaker 2: it was less than fifteen homes. I know that was
• 16:11
  Speaker 2: actually yeah, we.
• 16:12
  Speaker 4: Want and then you sold them back to the owner
• 16:17
  Speaker 4: to people that was ranm yep. And when you so
• 16:19
  Speaker 4: when you sold it, they didn't get any homes with
• 16:23
  Speaker 4: the person that brought it for.
• 16:25
  Speaker 5: You do it all without breaking the sweat, like being
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• 17:23
  Speaker 2: You technically do so. When you buy a mobile home community,
• 17:26
  Speaker 2: right like, the guarantee is, hey, I'm binding with these homes.
• 17:31
  Speaker 2: That's gonna pay us this land fee nine times out
• 17:34
  Speaker 2: ten with the community, the good people not trying to
• 17:35
  Speaker 2: move their mobile home out of there. You don't want
• 17:39
  Speaker 2: I don't want to. I don't like saying, because they
• 17:41
  Speaker 2: can't afford to move their home out of there. Because
• 17:42
  Speaker 2: sometimes that is the case. But if the community is good,
• 17:46
  Speaker 2: they want to stay there. So you technically, for example,
• 17:49
  Speaker 2: you're looking it will say like a seventy one pack community, right,
• 17:52
  Speaker 2: even though the homes may be still tending ONWN. It's
• 17:55
  Speaker 2: just you know that those is that is the lot
• 17:57
  Speaker 2: rent that's coming in.
• 17:59
  Speaker 5: So that was the deal. That was one deal, but
• 18:01
  Speaker 5: it is the team situation going on. So while you're
• 18:03
  Speaker 5: closing that deal, I know you had a couple more
• 18:05
  Speaker 5: parks in twenty twenty, right, so like what was that process,
• 18:07
  Speaker 5: like the search process? How are we getting financing to
• 18:10
  Speaker 5: get all these? Right? Because I think it was how
• 18:11
  Speaker 5: many we got in twenty twenty.
• 18:12
  Speaker 2: Four it was fo Yeah.
• 18:14
  Speaker 8: So the cool thing is that our one partner, he Quarterback,
• 18:18
  Speaker 8: that those deal as well. So the first park that
• 18:20
  Speaker 8: barn has been talking about that was one park. And
• 18:23
  Speaker 8: then he hit us back up a few months later
• 18:25
  Speaker 8: and was like, hey, I have a three park deal.
• 18:27
  Speaker 8: You know, same situation. He's going to quarterback. He has
• 18:30
  Speaker 8: a team involved as well. He hit us like, hey,
• 18:33
  Speaker 8: you know same buy in fifty k he hit us,
• 18:35
  Speaker 8: So we had the money.
• 18:37
  Speaker 9: That's just kind of how that happened.
• 18:40
  Speaker 2: And then you sold one of those though, right, yeah,
• 18:42
  Speaker 2: so that I love that deal. So that deal. So
• 18:47
  Speaker 2: those three parks we got for one point eight, all
• 18:49
  Speaker 2: three of them, all three for one point eight Greensburg, PA.
• 18:54
  Speaker 2: So right around the Pittsburgh area, all three. So one
• 18:57
  Speaker 2: of the parks we just actually sold again after we
• 19:00
  Speaker 2: sold via Vista View. We sold it for three point five,
• 19:08
  Speaker 2: so that one park paid for all. So now we
• 19:10
  Speaker 2: just own two other parks free clear and it's just
• 19:13
  Speaker 2: we just building up equity on those.
• 19:16
  Speaker 5: How many units in ease runs? We said, visit you,
• 19:18
  Speaker 5: I'm thinking of white man can't jump, So Sydney Dean
• 19:22
  Speaker 5: lived for those none now, but how many? How many?
• 19:26
  Speaker 5: How many lots in this and the other two? Was
• 19:28
  Speaker 5: it like fifty another fifty or seventy forty eight?
• 19:31
  Speaker 9: And then what was the other?
• 19:33
  Speaker 2: It was forty eight, and say it was fifty and
• 19:39
  Speaker 2: fifty because we had one seventy two left calculated with
• 19:42
  Speaker 2: my phone over there.
• 19:42
  Speaker 5: Since they, I mean you invested in a similar area,
• 19:45
  Speaker 5: does that obviously make it easier for you now to
• 19:47
  Speaker 5: just check on everything. Some people might hear an episode,
• 19:49
  Speaker 5: they probably hurt your episode, Like, yo, there's something that
• 19:51
  Speaker 5: happened in Virginia. There's mobile hole parks in Virginia and
• 19:54
  Speaker 5: I live in Chicago, right, I mean I don't know
• 19:56
  Speaker 5: if that may be the best investment, right because I
• 19:58
  Speaker 5: mean I gotta get to this place just it is
• 20:00
  Speaker 5: an issue.
• 20:00
  Speaker 2: Yeah. So the cool thing our partner Charlie actually moved
• 20:04
  Speaker 2: out too. He was in the back and he moved
• 20:07
  Speaker 2: out to Pittsburgh. Like, Yo, you know what, I could
• 20:09
  Speaker 2: be closer, I could be hands on. So that's the
• 20:11
  Speaker 2: cool thing about it. And like to your point, the
• 20:13
  Speaker 2: best thing is to we tell people starting that should
• 20:15
  Speaker 2: be become a passive investor. That's what we did. We
• 20:17
  Speaker 2: became a passive investors because the owner operator you do
• 20:20
  Speaker 2: have more responsibility, you are more hands on, and if
• 20:23
  Speaker 2: you don't have the experience. We see a lot of
• 20:24
  Speaker 2: owner ops kind of coming to this business and fail
• 20:26
  Speaker 2: because it's like, oh, yeah, I got a park. Yo,
• 20:28
  Speaker 2: I'm getting all these units for this lower price, and
• 20:31
  Speaker 2: now I don't have the resources. What do I go next.
• 20:35
  Speaker 2: I don't have the people that repair, I don't have
• 20:36
  Speaker 2: all these different things. So a lot of them kind
• 20:39
  Speaker 2: of they don't know the homes.
• 20:40
  Speaker 4: The homes so okay, so but after that you went
• 20:47
  Speaker 4: on like a dry spell for a little bit, right,
• 20:49
  Speaker 4: trying to buy parks.
• 20:50
  Speaker 6: So what happened with that?
• 20:51
  Speaker 2: Yeah, So for myself, I'm like, you know what, this is, dope,
• 20:54
  Speaker 2: we got him this year. I went on Sham's podcast
• 20:58
  Speaker 2: like I'm getting ten this year, declared it. And when
• 21:00
  Speaker 2: I tell you, every offer I was outbid or it
• 21:04
  Speaker 2: just didn't work. You know that I were doing conducting
• 21:06
  Speaker 2: due diligence and it just didn't line up. And it
• 21:09
  Speaker 2: was a top of year, you know. Prior wise, I'm like, man,
• 21:10
  Speaker 2: I said I was gonna get ten, and each month,
• 21:12
  Speaker 2: each quarter, I'm saying, I'm just like yo, like one
• 21:16
  Speaker 2: and I'm just like, man, this is.
• 21:17
  Speaker 9: Just flying out a lot.
• 21:18
  Speaker 8: I remember back and forth down to Atlanta, different parts
• 21:22
  Speaker 8: of Georgia looking at parks. We looked at a few
• 21:24
  Speaker 8: in North Carolina. But the thing too, is that some
• 21:27
  Speaker 8: of the parks that we would see via online when
• 21:29
  Speaker 8: we got in person.
• 21:30
  Speaker 9: Were like, whoa, it's way more maintenance.
• 21:33
  Speaker 8: It's going to be needed, you know, done on this
• 21:35
  Speaker 8: land versus what the pictures look like. So that was
• 21:37
  Speaker 8: another reason that I felt like it kind of held
• 21:40
  Speaker 8: us back a little bit.
• 21:41
  Speaker 5: Yeah. So I mean That's good that you said that,
• 21:43
  Speaker 5: because when you see the properties and you're like, damn,
• 21:45
  Speaker 5: all right, it's gonna be more than I thought. How
• 21:47
  Speaker 5: much reserves do you need? Like when you're getting a park, right,
• 21:50
  Speaker 5: because people say like, oh we can get in the deal, yeah,
• 21:52
  Speaker 5: fifty to get into it, but like, yeah, we might
• 21:55
  Speaker 5: need some money for these renovations and we might have
• 21:57
  Speaker 5: to need money to pay salaries for the blocky man's
• 22:00
  Speaker 5: all these people that are that be part of this
• 22:02
  Speaker 5: this this union. Now, like what's that like?
• 22:04
  Speaker 2: So the key thing, you know, like you said, leading
• 22:06
  Speaker 2: those reserves, you know, depends on what type of funding
• 22:09
  Speaker 2: you need they do. That's why the due diligence is
• 22:11
  Speaker 2: so important, right, we want to see what's all every
• 22:13
  Speaker 2: worst case scenario that can happen. Right, A lot of
• 22:16
  Speaker 2: times it comes to you know, you see a lot
• 22:18
  Speaker 2: of older, older sower systems, or they may be on
• 22:20
  Speaker 2: a septic or well water, and so you definitely want
• 22:24
  Speaker 2: to budget, you know, for those problems. So again, when
• 22:28
  Speaker 2: a reserve, it really depends on how many units. So
• 22:31
  Speaker 2: I say, I got I'm looking for a twenty five unit, right,
• 22:33
  Speaker 2: and hype, let's say twenty five unit it's gonna cost
• 22:35
  Speaker 2: me seven hundred and fifty k. So depending on if
• 22:39
  Speaker 2: I know, you know the septic well, I know I
• 22:41
  Speaker 2: want I want a few new houses. I get the
• 22:44
  Speaker 2: houses finance. But now I may try to raise you know,
• 22:46
  Speaker 2: another one hundred and fifty k, just like you said,
• 22:49
  Speaker 2: just to have those for those reserves and then normally salaries.
• 22:51
  Speaker 2: What we want to do is, like I said, a
• 22:53
  Speaker 2: mobile home park. We look at it like this, I'm
• 22:55
  Speaker 2: buying a business. So if it's already cash on and
• 22:57
  Speaker 2: it's already paying out, either a am I cutting costs
• 23:00
  Speaker 2: or you know? Or would I add value and bring
• 23:03
  Speaker 2: on more people to the team.
• 23:04
  Speaker 5: I feel like the property manager becomes like.
• 23:06
  Speaker 2: The LRA pretty much. Yeah, you look for free chiefs
• 23:12
  Speaker 2: a psychologists.
• 23:12
  Speaker 6: So talk about the land fee, so you'll talk about that.
• 23:16
  Speaker 2: Yeah, So you know the average lot rent in America
• 23:19
  Speaker 2: is three seventy five.
• 23:20
  Speaker 4: Right, and yep, the lot rent is that's how much
• 23:24
  Speaker 4: they're paying just to mark their their hoble home.
• 23:28
  Speaker 5: Yep.
• 23:29
  Speaker 2: Yeah, so similar to hoa right, just like a condo townhome.
• 23:33
  Speaker 2: And so the cool thing about ours and PA, all
• 23:36
  Speaker 2: of ours were four twenty five and up and it's
• 23:39
  Speaker 2: all about location, right. It's you can have for example,
• 23:42
  Speaker 2: like in New York, we've had students that we've seen
• 23:44
  Speaker 2: that their lot rents are like seven twenty five, you know,
• 23:48
  Speaker 2: seven fifth, I mean just up and high where it's California,
• 23:50
  Speaker 2: San Diego, maybe twelve hundred dollars. Illinois we see around
• 23:54
  Speaker 2: like the five fifty six hundred range. So the purpose
• 23:59
  Speaker 2: of that again, like you said, parking making sure that
• 24:01
  Speaker 2: they're mobile home they're leasing. But it comes with, for example,
• 24:04
  Speaker 2: so we're in a cold of climate. We know we
• 24:05
  Speaker 2: got snow removal, right, it could be trash, it could
• 24:08
  Speaker 2: be amenities like for example, yeah, right, and then you
• 24:13
  Speaker 2: know for the for profit as well, you know, for
• 24:15
  Speaker 2: for us as the park owner. But normally what we're
• 24:18
  Speaker 2: starting to see though, this is one thing I can
• 24:20
  Speaker 2: say I don't really like about the industry some people.
• 24:23
  Speaker 2: So let's say you know, LEAs your bids and mobile
• 24:25
  Speaker 2: home community and the current lot rent is two seventy five,
• 24:30
  Speaker 2: and you're like, you know what, we want to come
• 24:31
  Speaker 2: in and kind of get you know, get it up.
• 24:33
  Speaker 2: But you guys come in and raise it and be
• 24:35
  Speaker 2: all right, next year is gonna be three seventy five
• 24:38
  Speaker 2: so it raised aboute hundred dollars. So now that kind
• 24:40
  Speaker 2: of affects you know, your people coming in even though
• 24:42
  Speaker 2: you know you're gonna add value. So one thing I like,
• 24:44
  Speaker 2: I like when I see, like even what else we
• 24:46
  Speaker 2: make small increases maybe anywhere from you know, ten, ten
• 24:49
  Speaker 2: to twenty five dollars on the high end, and then
• 24:51
  Speaker 2: that way over time they see the value. But when
• 24:53
  Speaker 2: you come in and just say, hey, you know what,
• 24:54
  Speaker 2: we're gonna raise it one hundred bucks, it's like, yo,
• 24:56
  Speaker 2: like this, I can't afford this right now. And now
• 24:59
  Speaker 2: you see people almost like they parts of getting gentrified.
• 25:02
  Speaker 5: It's like the yo, it's under new management. Yeah. Fact,
• 25:05
  Speaker 5: so you said by state, right, Like depending on the state,
• 25:09
  Speaker 5: that fee can go up. So if I'm starting right obviously,
• 25:12
  Speaker 5: if I've done the mobile homes and I've done that
• 25:14
  Speaker 5: and I'm a passive investor, if I'm looking to raise much,
• 25:16
  Speaker 5: do I start in the state that is known for
• 25:19
  Speaker 5: starting in California with the prices a lot higher, or
• 25:21
  Speaker 5: I start in New York where you said it could
• 25:23
  Speaker 5: be like seven twenty five, Or do I say, you
• 25:25
  Speaker 5: know what, let me grow to that. I'll start in
• 25:27
  Speaker 5: the Indiana like a id On or something like that,
• 25:30
  Speaker 5: so disrespect to those states.
• 25:33
  Speaker 8: So for me, if I was looking to get into
• 25:36
  Speaker 8: a park, and if I do live in a market
• 25:38
  Speaker 8: that I know is a little bit higher, I would
• 25:40
  Speaker 8: start in like a Georgia or North Carolina kind of
• 25:43
  Speaker 8: like the southern states you'll see like that cheaper libry
• 25:46
  Speaker 8: or like you said, Indiana, or even like some parts
• 25:49
  Speaker 8: of Illinois. But like southern Illinois you'll see like the
• 25:52
  Speaker 8: three seventy five and the four hundred.
• 25:54
  Speaker 9: But again you got to go out.
• 25:55
  Speaker 8: To rural America in order to see those prices.
• 25:59
  Speaker 4: So let's talk about like some issues that you might
• 26:02
  Speaker 4: have as far as owning a park, repairs and maintenance,
• 26:06
  Speaker 4: what's the what's the deal with that?
• 26:08
  Speaker 6: Has that work?
• 26:09
  Speaker 2: So roads?
• 26:11
  Speaker 6: Right?
• 26:11
  Speaker 2: Depending on how old something you come on some of
• 26:13
  Speaker 2: these parks is you know just gravel, uh even some
• 26:16
  Speaker 2: not even just no pave, no nothing right, just just dirt,
• 26:20
  Speaker 2: So you can have issues with that definitely. You know, plumbing,
• 26:22
  Speaker 2: if you if you're buying a park with that has
• 26:25
  Speaker 2: you know, septic or well water, you know, you always
• 26:27
  Speaker 2: have to make sure that water is tested and make
• 26:30
  Speaker 2: sure you know, because again you would hate to your
• 26:32
  Speaker 2: water is tamper. Now your tenants without water.
• 26:34
  Speaker 6: Talk about that the test the water being tested.
• 26:37
  Speaker 2: Yeah, so with uh, with well water, it has to
• 26:41
  Speaker 2: meet definitely for the county, it has to meet a
• 26:43
  Speaker 2: certain grade. Right, And so you know, again if you
• 26:46
  Speaker 2: if you're not if you're not maintenance and that you know,
• 26:50
  Speaker 2: when it's supposed to be maintenance and things like that,
• 26:52
  Speaker 2: that water can get tamper and you know, that's that's
• 26:55
  Speaker 2: one of the worst that's the one of the worst
• 26:57
  Speaker 2: case scenarios.
• 26:57
  Speaker 6: You know.
• 26:57
  Speaker 2: Imagine you have a community and they out of water, right,
• 27:01
  Speaker 2: and so you know that's the issue. Same thing with
• 27:04
  Speaker 2: septic that can get backed up. So that we so
• 27:06
  Speaker 2: we always try to look for right, that's a bad thing, right,
• 27:12
  Speaker 2: and so we try to look for parks that come
• 27:15
  Speaker 2: with city water and city water and city sewer because
• 27:20
  Speaker 2: now we know the city has our back. So some
• 27:22
  Speaker 2: comes out that's the city's responsibility versus us as owners.
• 27:25
  Speaker 2: Now you know, we have to try to go in
• 27:27
  Speaker 2: and get this septic and will I think other problems tenants,
• 27:31
  Speaker 2: you know, I mean, you know, I think I remember
• 27:33
  Speaker 2: you saying the first it was like yo, like ozark, right,
• 27:37
  Speaker 2: and then you do you do have communities like that, right?
• 27:41
  Speaker 2: You do have communities that you know it's a trip
• 27:44
  Speaker 2: house or a meth house, you know, and it can
• 27:46
  Speaker 2: kind of corrupt the neighborhood. You could have some bad
• 27:48
  Speaker 2: tenants in there that you know that just cause a
• 27:51
  Speaker 2: lot of trouble. And then you can think of baby
• 27:55
  Speaker 2: and then I would say the houses.
• 27:57
  Speaker 8: I think what happens to is a lot of you know, investors,
• 28:00
  Speaker 8: They purchase these large communities where you may have a
• 28:03
  Speaker 8: seventy five pad and fifty of the lots or field,
• 28:06
  Speaker 8: but now you have twenty five homes that need renovations.
• 28:10
  Speaker 8: And if you don't understand how to renovate the home
• 28:12
  Speaker 8: and just the process of buying and selling the individual
• 28:14
  Speaker 8: mobile home, that's a maintenance within itself as well. So
• 28:17
  Speaker 8: that's why we see a lot of park owners like
• 28:20
  Speaker 8: shy away from investors where us being you know, started
• 28:23
  Speaker 8: out investing in individual homes. We see the value of
• 28:27
  Speaker 8: allowing our students, allowing investors in our park to come
• 28:31
  Speaker 8: and actually renovate the house, and then allowing them to
• 28:33
  Speaker 8: buy and flip it or they can put them on payments.
• 28:36
  Speaker 8: They go ahead and get their profit, and then we
• 28:38
  Speaker 8: still collect our land feed a lot.
• 28:40
  Speaker 5: Rent I had like two questions in it. That was
• 28:42
  Speaker 5: a lot. Topography is something that you know I've done before,
• 28:48
  Speaker 5: very expensive, right for those none you know, it's like
• 28:50
  Speaker 5: when you have to test the soil, which for you
• 28:52
  Speaker 5: it means everything. Yes, if your land is sinking, that's
• 28:55
  Speaker 5: an interesting that have you encountered that? Is that something
• 28:57
  Speaker 5: that you guys do when you're doing a duels.
• 29:00
  Speaker 2: Well, yes, so that is something we do now we
• 29:02
  Speaker 2: haven't encounter it. And and now most states what they
• 29:05
  Speaker 2: require is you have to have a certain amount of cement.
• 29:09
  Speaker 2: So most so cooling my mobile homes again since their
• 29:12
  Speaker 2: mobile when they're when they are you know, I'm wanna
• 29:15
  Speaker 2: say bus, but when they are transported, but they transported
• 29:18
  Speaker 2: in right. Normally, each each unit has a concrete slab
• 29:23
  Speaker 2: and that concrete slab is just you know for stability
• 29:25
  Speaker 2: for the home. So again, so you won't have the sinking.
• 29:28
  Speaker 2: So the thing you know now is a requirement because
• 29:31
  Speaker 2: that what was happening. You have homes. You can go
• 29:33
  Speaker 2: into the park and you can see they uneven, they
• 29:35
  Speaker 2: kind of top of because like you said, because of
• 29:37
  Speaker 2: what's selling. So that is definitely part of the due diligence,
• 29:39
  Speaker 2: you do have to test the soil.
• 29:41
  Speaker 5: Donna play around the second part of it was like,
• 29:42
  Speaker 5: as far as having tenants that might cause issues in it,
• 29:46
  Speaker 5: what is the eviction process like in the mobile hole setting?
• 29:49
  Speaker 5: Like we know different states having for apartments and you
• 29:52
  Speaker 5: know condos, but what is it like for the mobile
• 29:54
  Speaker 5: home parks?
• 29:56
  Speaker 2: So very similar, very similar, you know when it comes
• 29:59
  Speaker 2: to eviction. You know, I will say, we've seen, we've now.
• 30:05
  Speaker 2: The difference is they can file earlier. It states like
• 30:08
  Speaker 2: Louisiana where they can file if you're behind ten days,
• 30:13
  Speaker 2: they can get the process started. And there's a lot
• 30:16
  Speaker 2: of states like that. When we first came, it was
• 30:17
  Speaker 2: like man, who regulating this?
• 30:19
  Speaker 6: Right?
• 30:19
  Speaker 2: Like how does this allowed? But you see it as
• 30:21
  Speaker 2: almost you know, anywhere from ten to thirty days where
• 30:24
  Speaker 2: they can get that process started.
• 30:26
  Speaker 4: So, like, what's the cash flow that you're looking for?
• 30:29
  Speaker 4: Like on average, I know it depends, but is it
• 30:33
  Speaker 4: a play for appreciation or is it a play for
• 30:34
  Speaker 4: cash flow?
• 30:35
  Speaker 2: Both? So cash flow you coming in for us, you know,
• 30:39
  Speaker 2: we like anything that's at least eight thousand dollars cash
• 30:41
  Speaker 2: flow because we know we can go add value if
• 30:43
  Speaker 2: it's empty houses. We know we can get that cash
• 30:45
  Speaker 2: flow up to anywhere from ten to twelve. For example,
• 30:48
  Speaker 2: our our first one that we sold, that cash flow
• 30:51
  Speaker 2: we had when we purchased it. That cash flow it
• 30:53
  Speaker 2: was right at eleven. We getting up getting up to
• 30:55
  Speaker 2: seventeen thousand a month.
• 30:57
  Speaker 6: That's for the park. For the park, yep, so seven
• 31:01
  Speaker 6: seventeen thousand net.
• 31:03
  Speaker 2: Yeah, seventeen thousand net.
• 31:04
  Speaker 6: Okay, And you said, what was it before?
• 31:06
  Speaker 2: It was eleven?
• 31:07
  Speaker 6: So what made you How did that increase the seventeen thousand?
• 31:10
  Speaker 2: So for we did increase the lot rent. We were
• 31:13
  Speaker 2: able to feel the empty paths that we had as
• 31:17
  Speaker 2: well as he had. No, that was actually that was
• 31:21
  Speaker 2: the first two because I'm thinking about the other park
• 31:24
  Speaker 2: where it ended up adding value, like the Vendom machines
• 31:26
  Speaker 2: and stuff.
• 31:27
  Speaker 8: Once you feel the empty houses and you get either
• 31:30
  Speaker 8: attended buyer, you get somebody else in there that kind
• 31:33
  Speaker 8: of makes up for the missing lot rent that you're
• 31:35
  Speaker 8: originally not getting in by having those paths empty.
• 31:39
  Speaker 5: You said something about Vendam machines. What's going on? Earnest?
• 31:42
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  Speaker 10: Right now, that's a play watching yl you can put
• 32:57
  Speaker 10: that as a value add again, I'm you know, a game,
• 33:00
  Speaker 10: so we got to get so you know, honestly, you
• 33:02
  Speaker 10: can do a lot of value adds right like I said,
• 33:04
  Speaker 10: you can add in the machines.
• 33:06
  Speaker 2: One thing that we incorporate food truck. Yeah, incorporating is
• 33:09
  Speaker 2: buying you know, older food truck. Now you can have
• 33:12
  Speaker 2: food truck. And now you can actually have you know,
• 33:14
  Speaker 2: one of the tenants who's one of the best cooks
• 33:15
  Speaker 2: to come and now serve that. So it's a lot
• 33:18
  Speaker 2: of different value ads even I'm I'm gonna give them
• 33:20
  Speaker 2: a play. So now instead of having an actual convenience store,
• 33:24
  Speaker 2: you can purchase an older r V a camper and
• 33:27
  Speaker 2: turn that into a convenience store. So now it's mobile
• 33:30
  Speaker 2: so that can go get his own snacks and fill up.
• 33:32
  Speaker 2: And now, because the biggest thing you want to do
• 33:34
  Speaker 2: for community, you really want to have a community, Like
• 33:37
  Speaker 2: I get it. We look at his investors, but for us,
• 33:39
  Speaker 2: it's the community. What can we do for the people,
• 33:40
  Speaker 2: How can we add value for the people? And those
• 33:42
  Speaker 2: are the few ways we to do it just finding
• 33:44
  Speaker 2: out what they like.
• 33:45
  Speaker 4: Yeah, that's a good idea for sure, because it's like
• 33:47
  Speaker 4: people got to instead of going to the store, you
• 33:48
  Speaker 4: can just have everything you need.
• 33:50
  Speaker 6: So in these mobile home communities.
• 33:52
  Speaker 4: What is the vibe? It's just like five how big
• 33:55
  Speaker 4: is it? Eight acres? Five acres? Five So five acres
• 34:00
  Speaker 4: of just land with seventy mobile homes.
• 34:06
  Speaker 6: That's it.
• 34:06
  Speaker 4: There's nothing like it's what are they doing?
• 34:16
  Speaker 2: So one thing I will say what I love about
• 34:17
  Speaker 2: mobile they're more it's a more tight knit family, right
• 34:20
  Speaker 2: because again sometimes they are stereotyped. Right you live in them,
• 34:24
  Speaker 2: you live in a trailer or things like that, right,
• 34:26
  Speaker 2: But down south you see it more often. But in
• 34:29
  Speaker 2: the community, the community is more tight knit than a
• 34:31
  Speaker 2: lot of times that we think of. Like you said,
• 34:33
  Speaker 2: they may you know, go to work activities depending on
• 34:35
  Speaker 2: where that's.
• 34:36
  Speaker 6: That's kind of a jaded question.
• 34:38
  Speaker 4: It's like I'm thinking, like a restaurant, you got to
• 34:41
  Speaker 4: you got to be able to go to the gym,
• 34:42
  Speaker 4: like you know what I'm saying, Like everything is in
• 34:43
  Speaker 4: walking distance or at driving distance. But I guess most people,
• 34:48
  Speaker 4: if you're in Middle America, a lot of stuff is not.
• 34:52
  Speaker 6: In the city anything exactly. What if you live in
• 34:54
  Speaker 6: a house. You don't know what I'm saying.
• 34:56
  Speaker 5: What if we can turn one of those, like like
• 34:58
  Speaker 5: those fast food franchises into them mobile unit to the property.
• 35:03
  Speaker 5: Well like what so let's say you had like like
• 35:06
  Speaker 5: McDonald Donald's and we had a mobile truck that came
• 35:10
  Speaker 5: the same way that they cook, like the fast truck does.
• 35:12
  Speaker 5: Now you bring that to the property. I was really
• 35:13
  Speaker 5: thinking entertainment wise too, like maybe once a month, you know,
• 35:16
  Speaker 5: like they have those mobile screens.
• 35:18
  Speaker 2: It's a lot of places and depends so especially down South,
• 35:22
  Speaker 2: like those down South, so it's their community. So you
• 35:25
  Speaker 2: have all age communities and then you have to earners.
• 35:28
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• 38:18
  Speaker 2: Security five plus communities fifty five plus Again, anybody who's
• 38:21
  Speaker 2: fifty five plus retired. They like living amongst each other.
• 38:24
  Speaker 2: So in a lot of those communities you have different
• 38:26
  Speaker 2: you know, start your five star communities, you know one
• 38:28
  Speaker 2: star communities. One stars, they're like, yo, I don't think
• 38:31
  Speaker 2: I'm driving enough. And then you get the five star
• 38:34
  Speaker 2: you're like, yo, these a mobile homes because the new
• 38:36
  Speaker 2: stuff is crazy. Well I'll talk about that. But so
• 38:39
  Speaker 2: now they have entertainment, right, they have Like we did
• 38:43
  Speaker 2: business in India, they had a clubhouse, so they'll have different,
• 38:45
  Speaker 2: you know, different weekly things that they'll do in the clubhouse.
• 38:49
  Speaker 2: So you have mobile home communities that you know, a
• 38:51
  Speaker 2: family base, and they definitely have you know, different things.
• 38:55
  Speaker 8: Or I was gonna say, even the one, our first
• 38:57
  Speaker 8: part that we did business in in Illinois, they had
• 38:59
  Speaker 8: a pool or swimming pool for the kids, like a
• 39:02
  Speaker 8: basketball court. Like it seems small to us, but like
• 39:05
  Speaker 8: you said, like individuals who live in like rural America,
• 39:08
  Speaker 8: like that is their entertainment.
• 39:09
  Speaker 5: I got a bunch of ideas.
• 39:12
  Speaker 6: I'm crazy mobile homes. I was always thinking the whole
• 39:17
  Speaker 6: point is to be able to drive.
• 39:19
  Speaker 4: Yeah, but I'm hearing that most people don't leave, So
• 39:25
  Speaker 4: why do you have a mobile home if you're not
• 39:27
  Speaker 4: going to be driving.
• 39:28
  Speaker 2: So the difference. So so the ones you talk about
• 39:31
  Speaker 2: the driving those are the r vs. Yeah, and so
• 39:34
  Speaker 2: the mobile like more so manufacturing home. But the reason
• 39:38
  Speaker 2: we still call them mobile because again they be moved
• 39:40
  Speaker 2: to a spot. But those are the double wise. The
• 39:43
  Speaker 2: single wise that you see, those are more so that.
• 39:49
  Speaker 2: So they're just okay, they're.
• 39:51
  Speaker 6: Called mobile because they can be moved exactly. They're not
• 39:54
  Speaker 6: actually like driving.
• 39:57
  Speaker 2: They are like the tiny home, right, and they are
• 40:01
  Speaker 2: similar in the factory so against just like for example,
• 40:04
  Speaker 2: like Clayton Holmes that's Born Buffets company. They cranking out
• 40:07
  Speaker 2: some factories can crank out thirty homes a day. So
• 40:10
  Speaker 2: they're cranking them out just like you know, just like
• 40:12
  Speaker 2: a like a car, and then they move them to
• 40:15
  Speaker 2: the location.
• 40:15
  Speaker 4: We you know, it's one of these things that we're
• 40:17
  Speaker 4: in a housing crisis right now and inflation is at
• 40:19
  Speaker 4: all time high and the housing market is that all
• 40:23
  Speaker 4: time high. Is also so a lot of people can't
• 40:25
  Speaker 4: afford to lift places. So it's like, you know, because
• 40:29
  Speaker 4: how much do these things cost now? Like how much
• 40:31
  Speaker 4: mobile homes costs now on average?
• 40:33
  Speaker 8: So average I was gonna say, use average. So when
• 40:38
  Speaker 8: we first started, you can really find a use mobile
• 40:40
  Speaker 8: home for less than five thousand dollars.
• 40:42
  Speaker 9: So I would say that we.
• 40:43
  Speaker 8: Definitely run the market up a little bit, so I
• 40:46
  Speaker 8: would say, shout out to y'all.
• 40:50
  Speaker 9: But so now it's right.
• 40:53
  Speaker 8: But now I would definitely say you can still find
• 40:55
  Speaker 8: a mobile home, a use mobile home for a less
• 40:57
  Speaker 8: than ten thousand dollars. Now a newer mobile were home,
• 41:00
  Speaker 8: like a twenty twenty two. That really depends on the
• 41:04
  Speaker 8: making model, but I would say average.
• 41:06
  Speaker 9: The lowest we've seen.
• 41:07
  Speaker 8: Is like thirty thousand upwards to like fifty thousand.
• 41:10
  Speaker 2: How many squiff feet, so anywhere from seven hundred seven
• 41:13
  Speaker 2: hundred scud feet to a double wide on a high
• 41:16
  Speaker 2: end almost two thousand square feet.
• 41:17
  Speaker 5: So that could be like two to three bedrooms.
• 41:21
  Speaker 2: You can get four bedrooms out of those.
• 41:23
  Speaker 5: They come with launder units inside of it too.
• 41:24
  Speaker 2: Yeah, yep, everything you have laundry units. Yeah. So what
• 41:28
  Speaker 2: I love about it imagine launch, right, So the beautiful
• 41:32
  Speaker 2: thing about it, right, like most so after definitely after
• 41:37
  Speaker 2: the eighties, everything was made just like a like an apartment, right,
• 41:40
  Speaker 2: So imagine just a longer apartment with no upstairs downstairs
• 41:43
  Speaker 2: is just it's just its unit. And then one thing
• 41:45
  Speaker 2: that she said, the average about ten thousand, but I know,
• 41:47
  Speaker 2: are your viewers from California, from Massachusetts, New York, They're
• 41:53
  Speaker 2: gonna be like ten thousand where because it's all about location.
• 41:56
  Speaker 2: The same oble home that we can go get for
• 41:58
  Speaker 2: ten thousand dollars, let's say in Florida, in San Diego,
• 42:02
  Speaker 2: that costs seventy thousand dollars. So it's all about location, right,
• 42:07
  Speaker 2: So a lot of places they don't see that. But
• 42:09
  Speaker 2: I always tell people, if your mobile home costs seventy
• 42:12
  Speaker 2: thousand dollars, that means your single family home is at
• 42:16
  Speaker 2: least four hundred thousand dollars. So it's a huge gap,
• 42:18
  Speaker 2: and it's still it's always gonna be an affordable option.
• 42:21
  Speaker 4: So Okay, So I was reading and they said the
• 42:25
  Speaker 4: mobile home parks is low risk and high demand. Yeah,
• 42:29
  Speaker 4: low risk, high demand, So I'm assuming it's low risk
• 42:33
  Speaker 4: because there's not a lot going on and you said
• 42:36
  Speaker 4: people don't usually leave, Yeah, and high demand because we
• 42:39
  Speaker 4: just talked about a housing crisis.
• 42:41
  Speaker 6: Yeah, and it's a.
• 42:42
  Speaker 4: Very affordable way to lift yes, So it's actually like
• 42:46
  Speaker 4: something that is it's getting bigger.
• 42:49
  Speaker 2: Yeah, oh yeah, for sure. It's so it's especially what's
• 42:53
  Speaker 2: happening right now. Right like I said, we're seeing prices
• 42:56
  Speaker 2: are going up inflation. People still need to you know,
• 42:59
  Speaker 2: affordable place to live, and so it is becoming more
• 43:01
  Speaker 2: attractive because it's like apartment ren's not going down. And
• 43:05
  Speaker 2: now I can make twenty dollars an hour, fifteen dollars
• 43:08
  Speaker 2: an hour, and I can go live in a community.
• 43:10
  Speaker 2: I can have my own my own home for and
• 43:12
  Speaker 2: I can pay kind of similar to either what an
• 43:15
  Speaker 2: average apartment rentals or less, or I can own my
• 43:18
  Speaker 2: home for fifteen thousand dollars in like three years, four years,
• 43:21
  Speaker 2: whatever the terms look like. So people are starting to realize,
• 43:24
  Speaker 2: like all right, especially people that are like, you know,
• 43:27
  Speaker 2: like thirty thirty and up. They're like, yo, you know
• 43:29
  Speaker 2: what it's going downsides Like we were trying to live
• 43:31
  Speaker 2: in the city and things. Let's go get this mobile home.
• 43:33
  Speaker 2: Save some money because you going to parks, you see benses,
• 43:37
  Speaker 2: you see them big four one fifties, Like they live
• 43:40
  Speaker 2: good because their cost of living is cheaper.
• 43:45
  Speaker 4: And it's a low turnover. Right, yes, what about competition,
• 43:50
  Speaker 4: Like is it a competitive market right now.
• 43:53
  Speaker 2: Yes, it definitely is. I think on all aspects. It's
• 43:58
  Speaker 2: competitive as far as you know, people come into the
• 44:03
  Speaker 2: space want to buy mobile home communities. Now it's still
• 44:05
  Speaker 2: when the last time we spoke institutionally. What I mean
• 44:08
  Speaker 2: by that like like you know, company like private companies
• 44:12
  Speaker 2: or large institutions only had on ten percent of the
• 44:14
  Speaker 2: market ship. The rest we call mom and pop parks,
• 44:17
  Speaker 2: meaning it just you know, they've been in a family,
• 44:19
  Speaker 2: they're privately owned. Now that's probably up to about right
• 44:23
  Speaker 2: around like thirteen fifteen percent. So there's still a lot
• 44:26
  Speaker 2: of communities out there. Some people are sitting and holding
• 44:29
  Speaker 2: in value and then some people are like, you know what,
• 44:31
  Speaker 2: I'm not about to sell to you to come in
• 44:32
  Speaker 2: here and raise the value and push my tenants out.
• 44:35
  Speaker 2: And so it's all about relationships nowadays, right You got
• 44:37
  Speaker 2: to build a good relationship with somebody who has a community.
• 44:41
  Speaker 2: You know, some people, a lot of park owners, they
• 44:42
  Speaker 2: are older and they're like, you know what, my kids
• 44:44
  Speaker 2: don't want this. You know, they look like a nice
• 44:48
  Speaker 2: couple will sell my mobile home community.
• 44:53
  Speaker 8: No, I was going to hop in and say, because
• 44:54
  Speaker 8: I know viewers for the individual home aspect, I would
• 44:57
  Speaker 8: say that it's not competitive. It's still a very low
• 45:01
  Speaker 8: competition market if you do. If someone's watching this and
• 45:04
  Speaker 8: they're like, hey, I just still want to get into
• 45:06
  Speaker 8: even the individual space and then transition to the mobile
• 45:09
  Speaker 8: home community space, it's still a great market to get
• 45:12
  Speaker 8: in as far as that low risk and involvement in
• 45:14
  Speaker 8: real estate.
• 45:16
  Speaker 5: Yeah, I'm thinking from the stand point and I'm glad
• 45:18
  Speaker 5: you said it was like they're cranking out thirty homes
• 45:20
  Speaker 5: a day, right, you have parks. At some point, do
• 45:23
  Speaker 5: you think, hey, maybe I should design it or create
• 45:26
  Speaker 5: the actual homes to actually sell the people we have.
• 45:29
  Speaker 2: We definitely have. I got a list of all the manufacturers,
• 45:31
  Speaker 2: and you know, I honestly look at it like twenty
• 45:35
  Speaker 2: twenty three. I want to go into get an acquisition
• 45:37
  Speaker 2: where I buy an actual manufactured company so we can
• 45:40
  Speaker 2: have Because what happened with the pandemic did it slowed
• 45:43
  Speaker 2: down the production. So it's a lot of park owners
• 45:46
  Speaker 2: who are on still waiting for new homes to come
• 45:49
  Speaker 2: in because right now, like you said, it's it's a demand.
• 45:52
  Speaker 2: So people are now trying to fill up their parks.
• 45:54
  Speaker 2: It's still like the wild wild West, meaning whereas you
• 45:58
  Speaker 2: gotta park. Troy has a park. Rashad got a park.
• 46:01
  Speaker 2: Rashad just bought a park. He got seventy units all
• 46:04
  Speaker 2: his all field. You got a park. You got seventy units,
• 46:07
  Speaker 2: but only fifty is field. So you may come to
• 46:09
  Speaker 2: somebody like, hey, listen, I need some homes so they
• 46:11
  Speaker 2: can go to Rashad's park and take money out of
• 46:13
  Speaker 2: Rashad's park by taking buying a home, taking it out
• 46:16
  Speaker 2: of his park to bringing yours. Now, that can cost
• 46:18
  Speaker 2: Rashada anywhere from twenty some thousand dollars plus because he
• 46:20
  Speaker 2: got a fill of his land and now that's stopped.
• 46:22
  Speaker 2: That's just another home. The cast laws out.
• 46:24
  Speaker 5: The person that actually he's just gonna how's that work?
• 46:27
  Speaker 5: He's gonna take it from the lot.
• 46:28
  Speaker 2: So here's the thing. Yeah, So here's the thing. When
• 46:32
  Speaker 2: you own, for example, mobile homes inside of mobile home
• 46:35
  Speaker 2: communities except in Texas, New Hampshire, Vermont, they are titled
• 46:39
  Speaker 2: just like cars. Right, so I own an asset. Once
• 46:42
  Speaker 2: I have that title, I don't necessarily have to have
• 46:45
  Speaker 2: this in the community. So as for us, we try,
• 46:47
  Speaker 2: you know, you want to get tenants on leases in
• 46:49
  Speaker 2: agreement saying hey, I want to stay in this spot
• 46:52
  Speaker 2: for at least a year. Some people have two three
• 46:54
  Speaker 2: year commitments. Whatever that looks like. So now if I
• 46:57
  Speaker 2: if let's say I'm not in the you know it's
• 47:01
  Speaker 2: Rashad's parking, is your park, i'mnna bring it to you
• 47:03
  Speaker 2: if I have the title, and Sharanie says, hey, I
• 47:06
  Speaker 2: can help you. I'll sell you. I mean I'll buy
• 47:08
  Speaker 2: a home from you. Right, cool, And she's the highest bidder.
• 47:12
  Speaker 2: Now she can go buy the home. She's the title owner,
• 47:14
  Speaker 2: and she can go to Rasha like, yo, I'm the
• 47:16
  Speaker 2: title owner. So unless you're gonna give me thirty K
• 47:19
  Speaker 2: for this house, I'm moving in. And Sean can be
• 47:22
  Speaker 2: like either I'm gonna pay you that or no?
• 47:24
  Speaker 6: All right?
• 47:24
  Speaker 2: Cool. Now she's taking that home to Troy because because
• 47:26
  Speaker 2: she on the asset.
• 47:27
  Speaker 5: So it's like the title like the deed for the house. Yeah, gotcha.
• 47:32
  Speaker 2: People find mobile home parks, so I know she got
• 47:35
  Speaker 2: the resource. Mobile home parkstore dot.
• 47:38
  Speaker 8: Com, loopnet dot com is another one. Facebook groups. It's
• 47:43
  Speaker 8: a lot of like mobile home park Mastermind Facebook groups.
• 47:46
  Speaker 9: You can find park.
• 47:47
  Speaker 8: Owners or agents that's listing parks driving for dollars like
• 47:53
  Speaker 8: you can still drive around to different communities and if
• 47:55
  Speaker 8: the current owner is there, you can get out and
• 47:58
  Speaker 8: have a conversation with them and just ask like, hey,
• 48:00
  Speaker 8: you know you have a thought about selling or you're
• 48:02
  Speaker 8: thinking about selling.
• 48:05
  Speaker 5: Is there like like an auction? They do auctions for homes.
• 48:09
  Speaker 2: If it's like more, there are some you can definitely, yeah,
• 48:14
  Speaker 2: you can find homes. But even for parks that they
• 48:16
  Speaker 2: have some, especially if it's like like a tax duh,
• 48:19
  Speaker 2: you can get those every now and then. They have
• 48:21
  Speaker 2: a few I've seen like Arizona they have auctions. I
• 48:24
  Speaker 2: also tell them give them the Google Google Map play.
• 48:27
  Speaker 9: Oh yeah, Google Map.
• 48:28
  Speaker 8: You can put in your Google Maps and mobile home
• 48:31
  Speaker 8: parks near me in your area and then it literally
• 48:34
  Speaker 8: would show you all of the mobile home parks is
• 48:36
  Speaker 8: off any highways it's in your area. So that's another
• 48:39
  Speaker 8: way to see the mobile home parks in your area.
• 48:42
  Speaker 6: So it's good information.
• 48:44
  Speaker 4: So as far as like buying a mobile home park,
• 48:48
  Speaker 4: you have like an inspector come in and they do
• 48:51
  Speaker 4: an inspection, like if you're buying a home, but they
• 48:53
  Speaker 4: got an inspection for every home, or they just do
• 48:56
  Speaker 4: an inspection for the land.
• 48:59
  Speaker 6: More they don't expect the individual.
• 49:00
  Speaker 2: Home, so more so for the land. But I would
• 49:04
  Speaker 2: tell you know, I would encourage if you definitely get
• 49:05
  Speaker 2: inspection over the houses as well.
• 49:07
  Speaker 4: They don't you can do that, yeah, like you have
• 49:09
  Speaker 4: somebody do it each individual house, just to make sure
• 49:11
  Speaker 4: the maintenance of the houses.
• 49:13
  Speaker 6: That could affect you too, right.
• 49:14
  Speaker 2: Yeah. And then so for example, what if it's tenant owned,
• 49:18
  Speaker 2: if the home is you know again the tenant owns. Uh,
• 49:21
  Speaker 2: more so just the exterior.
• 49:23
  Speaker 6: How's appraisals work?
• 49:25
  Speaker 2: So they are mobile home park appraisals? The process, I
• 49:29
  Speaker 2: don't know, but I will say I like appraisals because
• 49:32
  Speaker 2: every time the park we had, we always get equity
• 49:35
  Speaker 2: within this.
• 49:36
  Speaker 5: Yeah.
• 49:37
  Speaker 4: Do you think that, like, like for real estate investor,
• 49:41
  Speaker 4: is is this something that you would consider people to
• 49:46
  Speaker 4: chick consider instead of buying homes, buying mobile home parks
• 49:50
  Speaker 4: or like in addition to their real estate portfolio.
• 49:52
  Speaker 5: Look, the CFOs that get it get it. The CFOs
• 49:55
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• 51:14
  Speaker 2: I mean, we will providing a competition now. But now
• 51:17
  Speaker 2: you know what though, I would say this if you
• 51:19
  Speaker 2: want to buy more units for a more affordable price.
• 51:22
  Speaker 2: For example, if you buy an apartment building nowadays, the average
• 51:25
  Speaker 2: apartment building per unit, you're looking at anywhere from like
• 51:27
  Speaker 2: sixty nine thousand up or still like eighty nine thousand
• 51:30
  Speaker 2: per unit. Whereas a mobile home park you're looking at
• 51:33
  Speaker 2: we would like to we like to find units anyway
• 51:35
  Speaker 2: thirty thousand and less, but you're looking at possibly thirty thousand.
• 51:39
  Speaker 2: On the high ends. We see some people like fifty
• 51:41
  Speaker 2: five thousand per unit. So you get more, you get
• 51:44
  Speaker 2: more units, yep, you get more unit. You get the
• 51:47
  Speaker 2: land too, get the land.
• 51:48
  Speaker 6: Yeah, now every time you get to own the land.
• 51:51
  Speaker 2: Yeah, park every time. And the beautiful part of extra strategy,
• 51:54
  Speaker 2: it depends on where your land is. Let's say God
• 51:56
  Speaker 2: forbid all the homes or now I can sell it
• 51:59
  Speaker 2: to home depots, so it's so my land to them.
• 52:01
  Speaker 4: So but those two parts that you sold, why did
• 52:04
  Speaker 4: it appreciate so much though, because that was like a
• 52:05
  Speaker 4: big appreciation for both of them.
• 52:07
  Speaker 6: Yeah. Was it a reason did you like refurbish it.
• 52:09
  Speaker 2: Or or it's just good timing both right, just definitely
• 52:14
  Speaker 2: adding the value to it. Turning the tenants. Like I said,
• 52:17
  Speaker 2: people are more likely to get a loan from the
• 52:20
  Speaker 2: fact that if it's tenant owned homes, right, because they
• 52:23
  Speaker 2: look at it, it's more it's a riskier if I
• 52:25
  Speaker 2: have I if I'm going to own all the homes.
• 52:28
  Speaker 2: And then, like you said, perfect time after the pandemic,
• 52:31
  Speaker 2: people saw the results, right, rent rolls, I mean it
• 52:34
  Speaker 2: was on paper, rent rolls are looking good. You're still
• 52:36
  Speaker 2: looking a lot of a lot of mobile home park owners.
• 52:38
  Speaker 2: Rent rolls are still like eighty five to ninety percent,
• 52:40
  Speaker 2: whereas you're saying apartments, I mean, you know they struggling.
• 52:44
  Speaker 2: It was they was people won't even get thirty percent
• 52:46
  Speaker 2: of their rent rolls. So you know, it just looked
• 52:49
  Speaker 2: very attractive. And then the cash flow you just saw
• 52:52
  Speaker 2: more and more, more and more companies and investors like, yo,
• 52:54
  Speaker 2: this is kind of safe because now this is what
• 52:59
  Speaker 2: I've heard from my but they used to call it
• 53:01
  Speaker 2: basically kind of like a you know, like a recess
• 53:04
  Speaker 2: recession resistant asset class, because that's when most people are
• 53:09
  Speaker 2: gonna come when times are bad, you know, to a
• 53:12
  Speaker 2: mobile home community.
• 53:13
  Speaker 5: Okay, okay, I got that. I got that. So it
• 53:16
  Speaker 5: so we got these lands. You said, twenty twenty one
• 53:19
  Speaker 5: was a tough year. At some point we had to
• 53:22
  Speaker 5: readjust the planssess what we're doing. What was that like
• 53:25
  Speaker 5: for both of y'all, Like, you know that that could
• 53:28
  Speaker 5: lead to some tension and now we're still having this wedding. Man,
• 53:35
  Speaker 5: we got to hit.
• 53:35
  Speaker 2: These you know what, I will say, she helped me.
• 53:40
  Speaker 2: I was kind of stressing and as always, it's always stressing,
• 53:46
  Speaker 2: and she kept you know, she she definitely kept me
• 53:49
  Speaker 2: level headed. You know, just look at the bigger picture.
• 53:51
  Speaker 2: Look what we have, you know, look what we've been
• 53:53
  Speaker 2: able to create, and that did help me.
• 53:55
  Speaker 9: And then don't want to say, look what we've done.
• 53:57
  Speaker 8: Right, So at that point we were like, oh, we
• 54:00
  Speaker 8: want to get so many mobile home parks. But then
• 54:02
  Speaker 8: I think we didn't realize what we created in the
• 54:04
  Speaker 8: educational space. As far as you know, we got over
• 54:07
  Speaker 8: ten thousand students enrolled in our program. So that's another stressor.
• 54:11
  Speaker 8: And you know, within itself on building the top mobile
• 54:15
  Speaker 8: home investment educational program in the country, that comes with
• 54:19
  Speaker 8: again we had to build a team around that. So
• 54:21
  Speaker 8: now We have a team of eight under us now
• 54:24
  Speaker 8: just for that alone, and then still trying to build
• 54:26
  Speaker 8: our team around the mobile home communities as well.
• 54:29
  Speaker 5: Yeah, ye're building two different entities, but one educational and
• 54:33
  Speaker 5: it's still practicing in the space.
• 54:34
  Speaker 2: Yes, it's tough, yeah, love.
• 54:37
  Speaker 6: Do you have a park manager?
• 54:38
  Speaker 2: Yes, so every community has a park manager and they
• 54:43
  Speaker 2: mostly we offer but they can live whatever. I think
• 54:47
  Speaker 2: one of them does not live on the community. And
• 54:49
  Speaker 2: they're like the super kind of basically yep, just like
• 54:52
  Speaker 2: a super. The difference that they don't fix anything. They'll
• 54:55
  Speaker 2: mostly call the shots, you know, they make sure, you know,
• 54:58
  Speaker 2: they report everything out, just a.
• 55:00
  Speaker 6: Check on everything. What do you think the future for
• 55:03
  Speaker 6: mobile homes in America is? So?
• 55:07
  Speaker 2: Honestly, so this is the mobile home park space. Manufactured
• 55:12
  Speaker 2: home space technically kind of threatens the housing sector. Why
• 55:15
  Speaker 2: because they're cranked out in a factory. So if America
• 55:19
  Speaker 2: really regulated this and said okay, cool, free, will you
• 55:21
  Speaker 2: guys everybody can create factories. Now you're talking about what
• 55:25
  Speaker 2: you're gonna do to contractors and builders, right, because now
• 55:28
  Speaker 2: if we just popping up all these homes, you know, factories,
• 55:30
  Speaker 2: and we just putting in places that definitely. That hurts, right,
• 55:34
  Speaker 2: So you know it's it's still regulated, but I see that.
• 55:37
  Speaker 2: I mean, if you guys, you know, anybody's that's watching,
• 55:39
  Speaker 2: you know, you can google twenty twenty two mobile homes,
• 55:42
  Speaker 2: manufactured homes and I mean now the manufacturing town homes
• 55:46
  Speaker 2: and you know, multi level floors and things like that.
• 55:49
  Speaker 2: So the future as people are looking to downsize or
• 55:53
  Speaker 2: people realize that they'll need too much space living in
• 55:55
  Speaker 2: kind of like that minimalistic life, you know, it's affordable.
• 55:58
  Speaker 2: I think we're really we really will see more people
• 56:01
  Speaker 2: in that space. You see the tiny home space to
• 56:03
  Speaker 2: container home space. You know, it's all right right on.
• 56:06
  Speaker 5: The same all you're watching those likes and saying, all right,
• 56:10
  Speaker 5: is this competition right because you know, we know some
• 56:12
  Speaker 5: people that have home communities and nah, so it's completely.
• 56:16
  Speaker 2: Different, completely because for us owning the land, come on,
• 56:20
  Speaker 2: tiny home, come on container home, like we got we
• 56:23
  Speaker 2: can replace those.
• 56:24
  Speaker 6: Yeah you could do that.
• 56:29
  Speaker 2: That no, well, she had she loves me.
• 56:32
  Speaker 9: I'm like, I have, I love tiny homes.
• 56:34
  Speaker 8: So that's originally what I wanted to get into before
• 56:37
  Speaker 8: we even got to the mobile home space. What attracted
• 56:39
  Speaker 8: me to mobile homes was the affordability. So you know,
• 56:42
  Speaker 8: tiny homes, it's kind of like they're on the same
• 56:44
  Speaker 8: lines as regular single family home prices, and you know,
• 56:47
  Speaker 8: certain markets you can get a tiny home for like
• 56:49
  Speaker 8: seventy thousand versus like when we first started, we didn't
• 56:53
  Speaker 8: have anything, So me going out and searching for a
• 56:56
  Speaker 8: mobile home that we can get for three thousand and
• 56:58
  Speaker 8: flip it for ten thousand was more attracted.
• 57:01
  Speaker 6: So this is a this is a land play.
• 57:05
  Speaker 2: Yeah, yeah, this all land play, land play.
• 57:08
  Speaker 5: E've been watching the McDonald's documentary.
• 57:10
  Speaker 2: Yeah, that's like the primary focus on the land.
• 57:16
  Speaker 4: But you so all right, you buy the land, but
• 57:20
  Speaker 4: you can't do anything you want with the land though, right,
• 57:22
  Speaker 4: Like you can't kick the people off technically.
• 57:25
  Speaker 2: You can technically, but you know again, I mean for myself,
• 57:29
  Speaker 2: living integrity now our person, Yeah, but you can. Yeah.
• 57:33
  Speaker 2: So for example, we just come to a parking North
• 57:35
  Speaker 2: Carolina and he they hadn't know, maybe twenty plus homes
• 57:39
  Speaker 2: and the developed well he's a developer, and he's just like, yo,
• 57:42
  Speaker 2: like I think they got everybody out of the homes
• 57:45
  Speaker 2: and now sell the rest of these mobile homes and
• 57:47
  Speaker 2: they're going to develop apartments so.
• 57:50
  Speaker 4: Like, when you go for financing for this, since you're
• 57:52
  Speaker 4: buying land but you're also buying houses, what kind of
• 57:56
  Speaker 4: loan is it?
• 57:57
  Speaker 2: Yeah, so it is a They do have matter of fact, sure,
• 58:00
  Speaker 2: manufactured home community loans specifically for just for this Yep
• 58:06
  Speaker 2: and Fanny May. They actually have a certain amount that
• 58:11
  Speaker 2: they have just for manufactured home communities that they you know,
• 58:16
  Speaker 2: that they actually allow. I don't. I don't remember the
• 58:18
  Speaker 2: actual number. So you know, you you are. Well, we're
• 58:22
  Speaker 2: seeing since we first started, we're seeing more and more
• 58:24
  Speaker 2: lenders now that are are lending for mobile home parks and.
• 58:29
  Speaker 4: Like, what's the requirements like saying, like you like tax returns?
• 58:32
  Speaker 2: Yeah, pretty much like a commercial real right, you know,
• 58:35
  Speaker 2: the same thing real estate. We was in this space
• 58:39
  Speaker 2: twenty five thirty percent, so we're hoping to go down
• 58:42
  Speaker 2: to twenty.
• 58:43
  Speaker 5: Was it always that you've seen it change?
• 58:46
  Speaker 2: We haven't seen.
• 58:46
  Speaker 8: Well, So I go ahead, and I was gonna say,
• 58:48
  Speaker 8: just from when we just first started doing this, I
• 58:50
  Speaker 8: would say it's always.
• 58:51
  Speaker 9: Been kind of thirty thirty percent.
• 58:53
  Speaker 5: Now, going back to that that landplay that you said
• 58:56
  Speaker 5: from let's say like you wanted to turn it into apartments,
• 58:59
  Speaker 5: so you want to call commercial real estate or something
• 59:01
  Speaker 5: like that. Do you have to now go back to
• 59:03
  Speaker 5: the zoning laws and go to the county and figure out.
• 59:05
  Speaker 9: If we can yes, yet on the same process.
• 59:08
  Speaker 6: Yeah, then you can refine.
• 59:10
  Speaker 2: Yeah, And so that's really the play honestly, like for example,
• 59:14
  Speaker 2: you know again just see why, Yeah, get played here,
• 59:17
  Speaker 2: you know you gotta get plays. But you know, again,
• 59:21
  Speaker 2: if I find, if I find a community, I add
• 59:23
  Speaker 2: value to it, I want to refinance, right because now
• 59:26
  Speaker 2: I can go take that with the equity and I
• 59:27
  Speaker 2: can go put the down payment on another community. And
• 59:29
  Speaker 2: so that's what most are doing, just like the you know,
• 59:31
  Speaker 2: the Birst strategy. Just like with houses, people are doing
• 59:33
  Speaker 2: that with mobile home communities.
• 59:37
  Speaker 5: What so, I know ten was the goal last year.
• 59:40
  Speaker 5: We set a goal. I mean it's still early. In
• 59:41
  Speaker 5: twenty twenty two, we set a goal for this year. Yeah,
• 59:47
  Speaker 5: we're gonna hold you to.
• 59:50
  Speaker 2: I got bad luck from man.
• 59:52
  Speaker 6: There's that.
• 59:53
  Speaker 5: There's a number that we that we're like, you know what,
• 59:55
  Speaker 5: realistically we can hit this number.
• 59:57
  Speaker 2: Yes, yes, because why because we we're rolling out a
• 1:00:00
  Speaker 2: mobile home park fund and so that allows us each
• 1:00:04
  Speaker 2: quarter to buy multiple and so the goal is to
• 1:00:06
  Speaker 2: get three to four communities a quarter and now allow
• 1:00:10
  Speaker 2: opportunity for more people to come as passive investors, to
• 1:00:13
  Speaker 2: get to learn how to do it. And again we
• 1:00:16
  Speaker 2: always talk about we can always talk about group economics,
• 1:00:18
  Speaker 2: but a lot of people don't look like us that
• 1:00:19
  Speaker 2: do this. So now it's like, oh, we open up
• 1:00:21
  Speaker 2: the doors. Right, I think we know what three three
• 1:00:24
  Speaker 2: black mobile home park, so in this space, and it
• 1:00:29
  Speaker 2: may be more, but we don't necessarily know them. So
• 1:00:31
  Speaker 2: for us, we now we want to each quarter, we
• 1:00:33
  Speaker 2: want to say, hey, we got ten more, you got
• 1:00:35
  Speaker 2: ten more, you got ten more, and that again allows
• 1:00:38
  Speaker 2: us to buy it allows us to buy more. And
• 1:00:40
  Speaker 2: then for us, you know, kind of stepping now into
• 1:00:42
  Speaker 2: that fund space, you know, that's that's the next thing
• 1:00:45
  Speaker 2: for us.
• 1:00:45
  Speaker 5: So the fund, we can actually invest in it. How
• 1:00:48
  Speaker 5: does this work? Told me?
• 1:00:50
  Speaker 2: Yeah, So the fund, we'll have general partners, limited partners
• 1:00:55
  Speaker 2: the fund for us. I don't know if I could
• 1:00:58
  Speaker 2: say that numbers I got hot the eighth, but okay,
• 1:01:02
  Speaker 2: I'll get hypothetical. Right, So let's say the fund we say, hey,
• 1:01:05
  Speaker 2: you know what, our general partners, we want to put
• 1:01:07
  Speaker 2: sixty thousand a piece.
• 1:01:08
  Speaker 5: Right.
• 1:01:09
  Speaker 2: The goal is we going to say we want to
• 1:01:10
  Speaker 2: raise a million dollars, and that million the goal is
• 1:01:14
  Speaker 2: to take that million to become down payments for each community.
• 1:01:18
  Speaker 2: So that's how we get more instead of just buying
• 1:01:20
  Speaker 2: these parks our cash. Now right though within a million,
• 1:01:24
  Speaker 2: we can find as many parks as we can. Let
• 1:01:26
  Speaker 2: allow that be the down payment. We go get go,
• 1:01:28
  Speaker 2: get outside finance. And so now what we're able to
• 1:01:31
  Speaker 2: do is, hey, we own Let's say we own five
• 1:01:34
  Speaker 2: million dollars in assets. The goal is to get a
• 1:01:36
  Speaker 2: larger fund to look at us add value. While we're
• 1:01:39
  Speaker 2: adding value, we want a larger fund to say, you
• 1:01:41
  Speaker 2: know what, look look at that. That's sustainable. Okay, let
• 1:01:44
  Speaker 2: me let me go get them seven million for that,
• 1:01:47
  Speaker 2: and now we make sure we take care of all
• 1:01:48
  Speaker 2: of our investors.
• 1:01:50
  Speaker 4: What's some of the biggest issues with the part, Like,
• 1:01:52
  Speaker 4: is it environmental issues?
• 1:01:53
  Speaker 6: Is it tenants?
• 1:01:55
  Speaker 4: Like, what's some some of the downsides that can be hurtful?
• 1:01:59
  Speaker 2: Yeah?
• 1:02:00
  Speaker 8: Yeah, I would say definitely tenants, maintenance issues, I think
• 1:02:05
  Speaker 8: just across the board, and even traditional real estate and
• 1:02:08
  Speaker 8: mobile homes. Finding a reliable handyman and contractor and even
• 1:02:12
  Speaker 8: just a handyman team has been like the biggest issues
• 1:02:16
  Speaker 8: I would say we have saw.
• 1:02:17
  Speaker 2: Yeah, and then the worst what happens is if you
• 1:02:19
  Speaker 2: don't do your due diligence. Well we've seen people actually
• 1:02:22
  Speaker 2: go in and buy a community and not consult with
• 1:02:24
  Speaker 2: the county, not get the okay. And so if you
• 1:02:28
  Speaker 2: you definitely want to be on the you know, the
• 1:02:30
  Speaker 2: good side of with the with the city and the county,
• 1:02:33
  Speaker 2: because we've seen people get a lot of trouble, right
• 1:02:35
  Speaker 2: because what happens is they'll buy something, is the city
• 1:02:38
  Speaker 2: is like, yo, that's already like ugly, we want that
• 1:02:40
  Speaker 2: out of there. And you bought that and you're not
• 1:02:42
  Speaker 2: doing nothing to that. So now you're gonna have I mean,
• 1:02:44
  Speaker 2: they gonna come and look for everything, co violations, everything,
• 1:02:47
  Speaker 2: you know, just to you know. So that's that's what
• 1:02:49
  Speaker 2: we've seen people have a lot of headaches with as well.
• 1:02:53
  Speaker 4: So talk about you also scaled the education a lot,
• 1:02:56
  Speaker 4: right from the last time that we spoke, So talk
• 1:02:59
  Speaker 4: about that. You talked about your your students having like
• 1:03:01
  Speaker 4: I think ten thousand students nature, So how has that
• 1:03:05
  Speaker 4: been as far as scaling that and talk about some
• 1:03:07
  Speaker 4: of the maybe it's the success stories.
• 1:03:09
  Speaker 8: Yeah, and so we actually brought on a head coach,
• 1:03:13
  Speaker 8: so I got a shout out in Nicole Brisco mobile
• 1:03:17
  Speaker 8: home mommy. But so the beautiful thing what I love
• 1:03:20
  Speaker 8: about nicole story is that she was one of our
• 1:03:23
  Speaker 8: first students that his six figures in less than six months.
• 1:03:26
  Speaker 8: So Nicole had netted one hundred and eighty one thousand
• 1:03:31
  Speaker 8: and six months from wholesaling individual mobile homes and then
• 1:03:35
  Speaker 8: doing some on seller finance through payments.
• 1:03:38
  Speaker 9: So she reached out to us.
• 1:03:40
  Speaker 8: I think she hopped on the IG Live with us,
• 1:03:42
  Speaker 8: and I loved her energy, and I told Byron, I said,
• 1:03:45
  Speaker 8: you know, we got to think about scaling our educational
• 1:03:47
  Speaker 8: program because kind of like you talked about Troy, it's
• 1:03:50
  Speaker 8: hard to you know, have our hats fully in the
• 1:03:53
  Speaker 8: investing side and try to, you know, have the number.
• 1:03:56
  Speaker 9: One program in the world as well.
• 1:03:57
  Speaker 8: So I told him, like, I think we should bring
• 1:03:59
  Speaker 8: somebody on, and she was my first choice. So we
• 1:04:02
  Speaker 8: ended up bringing her on and now she has our
• 1:04:05
  Speaker 8: mentorship program, which is a twelve month program that we do,
• 1:04:09
  Speaker 8: and that program is really to scale an individual to
• 1:04:11
  Speaker 8: a six figure earner like herself and then then get
• 1:04:15
  Speaker 8: them to the seventh figure earner like us and scale them.
• 1:04:18
  Speaker 9: To buying you know, mobile home communities as well.
• 1:04:20
  Speaker 2: Yeah, and it's been a blessing, you know. I think
• 1:04:22
  Speaker 2: that I remember I had some queens pray over me
• 1:04:25
  Speaker 2: one time, and I remember they was just like, you're
• 1:04:26
  Speaker 2: a teacher, like a teacher all things. I'm a teacher,
• 1:04:30
  Speaker 2: you know. But it was fun, right, you know, just
• 1:04:32
  Speaker 2: being with the people, you know, being online, you know,
• 1:04:34
  Speaker 2: being able just to share game and just you know,
• 1:04:36
  Speaker 2: you seeing the impact and then definitely need to be
• 1:04:39
  Speaker 2: able to do it with her.
• 1:04:40
  Speaker 6: You know.
• 1:04:40
  Speaker 2: It's just it's super dope that you know, we get
• 1:04:43
  Speaker 2: a chance to share our knowledge, you know, see people
• 1:04:45
  Speaker 2: change their lives and you know, even like you said,
• 1:04:47
  Speaker 2: scale our team, my best friend growing up, right, my
• 1:04:50
  Speaker 2: best friend is even on our team. And I got
• 1:04:52
  Speaker 2: that from you all, right, seeing what y'all been able
• 1:04:54
  Speaker 2: to do, and you know it's just like yo, like
• 1:04:56
  Speaker 2: you know, halfing my goshot out, my guy Jarill even
• 1:04:58
  Speaker 2: on the squad, and it's just like, uh, the impact
• 1:05:01
  Speaker 2: we've been able to do, you know, for other people's lives. Man,
• 1:05:04
  Speaker 2: it's it's been it's been incredible, man. And share stages, right,
• 1:05:07
  Speaker 2: you know, share stages with so many other financial literacy
• 1:05:11
  Speaker 2: educators out here, and just see how genuine everybody is.
• 1:05:13
  Speaker 2: Like every time we see each other, it's all love.
• 1:05:15
  Speaker 2: We might not see each other for months, but it's
• 1:05:16
  Speaker 2: always love, you know. So that's the dope part.
• 1:05:19
  Speaker 6: So it's kind of like.
• 1:05:23
  Speaker 4: Mentorship type program, yes, where you say you you start
• 1:05:26
  Speaker 4: off and you teach them the basics of like buying
• 1:05:29
  Speaker 4: mobile homes, individual mobile homes, and then scaling it to
• 1:05:32
  Speaker 4: the point where they could potentially.
• 1:05:33
  Speaker 6: Buy mobile home parks yep.
• 1:05:35
  Speaker 4: And it's like a step by step process, yes, with
• 1:05:37
  Speaker 4: like zoom calls things.
• 1:05:39
  Speaker 2: That so yep, zoom calls. And then we actually we
• 1:05:43
  Speaker 2: created a bus tour. We actually take them out to
• 1:05:45
  Speaker 2: a community, so we'll be you know, a city that
• 1:05:48
  Speaker 2: that we have a relationship with a community. We ain't
• 1:05:50
  Speaker 2: took them into ours yet because it's been cold, so
• 1:05:53
  Speaker 2: you know, we'll take them out there and we even
• 1:05:54
  Speaker 2: give them opportunities. We've had students buy homes at the
• 1:05:57
  Speaker 2: at the you know where we you know, the parks
• 1:05:59
  Speaker 2: that we take them too, and it's just giving that
• 1:06:01
  Speaker 2: hands on. But for us, it's big, like we want
• 1:06:04
  Speaker 2: them to be able to touch us, right, We want them
• 1:06:05
  Speaker 2: to be. It's not like we Hollywood like all right,
• 1:06:07
  Speaker 2: y'all see y'all from a distance. It's more like, no,
• 1:06:10
  Speaker 2: come on, we're gonna come and break bread with y'all,
• 1:06:11
  Speaker 2: like come and sit down, asks us. We pick our
• 1:06:14
  Speaker 2: brain like while you're there with us, Like everything that
• 1:06:16
  Speaker 2: we have we're gonna pour into them, and then after
• 1:06:18
  Speaker 2: that we bring on more and more people's skill, whether
• 1:06:22
  Speaker 2: it's you know, a business credit, whether it's you know,
• 1:06:24
  Speaker 2: mobile home on private land. Like it's we keep we
• 1:06:28
  Speaker 2: continue pouring mobile homes into them, and we've been able
• 1:06:31
  Speaker 2: to out of that. We've had some six figure earners.
• 1:06:33
  Speaker 2: We've had you know, multiple five I mean just countless
• 1:06:36
  Speaker 2: five figure earners. But and then for us, we want
• 1:06:38
  Speaker 2: to build within so that this brand mobile home lead
• 1:06:40
  Speaker 2: investors just it lasts for ever and it's bigger than
• 1:06:42
  Speaker 2: just me and Sharnice.
• 1:06:43
  Speaker 5: So do y'all y'all what So that was pretty keen.
• 1:06:46
  Speaker 5: You said that a lot of some of the students
• 1:06:48
  Speaker 5: actually get to purchase from your properties. Yes, but do
• 1:06:51
  Speaker 5: you also make sure and go out to secure their
• 1:06:54
  Speaker 5: first property as well?
• 1:06:55
  Speaker 2: That's the goal, Like that's the really goal. Like it's
• 1:06:57
  Speaker 2: so it's it's an intense program. Like Nicole, I love
• 1:06:59
  Speaker 2: about it. Man, she a real coach, so she is
• 1:07:01
  Speaker 2: OneD ay ass and because we care though, right, like,
• 1:07:04
  Speaker 2: and that's the thing, like I would tell people like
• 1:07:06
  Speaker 2: don't don't invest. Don't invest in this if you don't
• 1:07:09
  Speaker 2: really see yourself doing it. If you want the information, cool,
• 1:07:11
  Speaker 2: just watch all of YouTube, watch everything for free, right,
• 1:07:14
  Speaker 2: but if you serious, that's why I want you to invest.
• 1:07:16
  Speaker 2: I don't want your money if you just this is
• 1:07:18
  Speaker 2: you know, just just something right. And so you know,
• 1:07:21
  Speaker 2: it's it's we make sure that we put as much
• 1:07:24
  Speaker 2: you know we can. I mean, like they say, you
• 1:07:26
  Speaker 2: can lead a horse to water, which you can't make
• 1:07:28
  Speaker 2: them drink. So we try our best to give them
• 1:07:29
  Speaker 2: as much resources and we got to push the head
• 1:07:31
  Speaker 2: in the water. That's what we're gonna do.
• 1:07:33
  Speaker 4: Yeah, it's one of these things where it's like like
• 1:07:35
  Speaker 4: I said, there's no college for it.
• 1:07:37
  Speaker 6: There's no.
• 1:07:39
  Speaker 4: Education that you can go to university. So you know,
• 1:07:43
  Speaker 4: the online space has become universities, especially for these type
• 1:07:47
  Speaker 4: of niche learning like trucking facts, mobile home investing, mobile
• 1:07:51
  Speaker 4: home park buying, and like you said, I mean it's
• 1:07:54
  Speaker 4: always free information as far as on YouTube and google
• 1:07:56
  Speaker 4: things in nature. But when you're talking about mentorship and
• 1:08:00
  Speaker 4: like more of a hands on situation, that's a lot different.
• 1:08:04
  Speaker 4: So it's like you said, it's not for everybody fat,
• 1:08:06
  Speaker 4: but for people that actually do want to take the
• 1:08:09
  Speaker 4: next step. So with that being said, we're going to
• 1:08:13
  Speaker 4: do something special for E y L and you know,
• 1:08:16
  Speaker 4: always try to do something a little different. Yeah, and
• 1:08:20
  Speaker 4: anybody that has an offering, we try to get like
• 1:08:23
  Speaker 4: a special discount, and you guys have been willing to oblige,
• 1:08:27
  Speaker 4: so we appreciate that. So it's actually two offerings. So
• 1:08:30
  Speaker 4: the website is mobile homes with an s E y
• 1:08:33
  Speaker 4: L dot com. And you have the regular course that
• 1:08:37
  Speaker 4: you have that's like a self go as you go
• 1:08:41
  Speaker 4: program where you know, it's just use videos and you
• 1:08:44
  Speaker 4: just learn and that you're going to do a thousand dollars.
• 1:08:48
  Speaker 6: Off right, it's appreciate that.
• 1:08:50
  Speaker 4: And then the more advanced, more the mentorship that's the
• 1:08:52
  Speaker 4: hands on that's where you actually get the zoom calls
• 1:08:56
  Speaker 4: and actually go on the bus ride and get you know,
• 1:08:59
  Speaker 4: be part of the can munity and actually like you know,
• 1:09:01
  Speaker 4: actually go from the steps of buying your first home
• 1:09:04
  Speaker 4: to you know, potentially buying your first mobile park and
• 1:09:07
  Speaker 4: for that you're gonna do two thousand dollars off. Sure,
• 1:09:10
  Speaker 4: so I appreciate that. So yeah, so you more the
• 1:09:12
  Speaker 4: mobile homes ey l dot com and uh, you know,
• 1:09:16
  Speaker 4: check it out if you're interested in furthering your education
• 1:09:20
  Speaker 4: and taking it to the next level, because, like I said,
• 1:09:22
  Speaker 4: I mean, I think this is something that is interesting.
• 1:09:26
  Speaker 4: You know, the first time was very interesting as far
• 1:09:29
  Speaker 4: as the mobile home within the mobile home park, and
• 1:09:32
  Speaker 4: like I said, even the land.
• 1:09:33
  Speaker 6: That's what really gets my attention, Like.
• 1:09:35
  Speaker 4: The land, Like you literally in a position where you
• 1:09:38
  Speaker 4: can actually purchase land, and that's that's everything. We're in
• 1:09:42
  Speaker 4: the race for land in this world. Whoever owns the
• 1:09:45
  Speaker 4: land owns owns everything.
• 1:09:49
  Speaker 5: Very true.
• 1:09:49
  Speaker 6: Yeah, so what's next? What's what's next for you guys? Yeah?
• 1:09:52
  Speaker 2: Man, so you know, concentrating on the fund and you know,
• 1:09:56
  Speaker 2: I think for us, continuing to cultivate our students. You know,
• 1:10:00
  Speaker 2: I think that that's the biggest thing. Like we said
• 1:10:02
  Speaker 2: that far as the brand. Charnice and I realize, you know,
• 1:10:05
  Speaker 2: getting married July second of this year, right, so thank you,
• 1:10:09
  Speaker 2: thank you.
• 1:10:10
  Speaker 8: Right, you know, hopefully after that comes to families change.
• 1:10:14
  Speaker 8: We can't be at the forefront all the time. So,
• 1:10:17
  Speaker 8: like you said, that's why we're trying to build our
• 1:10:19
  Speaker 8: students up.
• 1:10:20
  Speaker 9: You know, started with the cold. We want to.
• 1:10:21
  Speaker 8: Eventually have a full team of coaches across the country
• 1:10:25
  Speaker 8: that are teach in mobile home investment in each market.
• 1:10:27
  Speaker 9: So that's our biggest goal with that.
• 1:10:30
  Speaker 6: It's gonna be fun, super fun.
• 1:10:33
  Speaker 9: Man.
• 1:10:34
  Speaker 6: Man.
• 1:10:34
  Speaker 2: I always appreciate y'all. Man, it's always dope linking with
• 1:10:37
  Speaker 2: you guys. Man, truly appreciate y'all.
• 1:10:39
  Speaker 6: Our first event too.
• 1:10:41
  Speaker 2: Sum when you were shot the sky in Wall Street traffic.
• 1:10:47
  Speaker 4: Yeah, yeah, that was his first time speaking to like
• 1:10:49
  Speaker 4: a group of people.
• 1:10:51
  Speaker 2: That was crazy.
• 1:10:54
  Speaker 6: A lot of firsts, a lot has changed since. Definitely
• 1:11:00
  Speaker 6: proud of.
• 1:11:00
  Speaker 9: You guys, for sure, Thank you so much.
• 1:11:03
  Speaker 4: How can people staying in such like, what's the website,
• 1:11:05
  Speaker 4: what's the social media handles?
• 1:11:07
  Speaker 6: All that stuff?
• 1:11:08
  Speaker 2: Yeah for sure, so definitely Instagram is one of our
• 1:11:11
  Speaker 2: heavy sites at Mobile Home Elite Investors, same thing that's
• 1:11:15
  Speaker 2: our Facebook at Mobile Home Elead Investors, the watches on YouTube.
• 1:11:18
  Speaker 2: We got so much just free stuff out there. If
• 1:11:21
  Speaker 2: you type in mobile home lead Investors or mh Elite
• 1:11:24
  Speaker 2: Investors website, Mobile Home Elite Investors dot com. Man, that's everything, yep,
• 1:11:31
  Speaker 2: anything you want to say, niece.
• 1:11:34
  Speaker 8: Man, I just want to say thank y'all again for
• 1:11:37
  Speaker 8: having us come back. Definitely appreciate y'all and for everybody watching.
• 1:11:41
  Speaker 8: I to see y'all in the mobile home space, join
• 1:11:44
  Speaker 8: us in the mobile home space.
• 1:11:48
  Speaker 5: Yeah. Man, I just want to say personally, how proud
• 1:11:50
  Speaker 5: of am y'all. Growth from bureau in twenty nineteen to
• 1:11:55
  Speaker 5: ten thousand students is remarkable and it was one of
• 1:11:58
  Speaker 5: those first success stories. Like you said, it was the
• 1:12:00
  Speaker 5: biggest episode that we put out at the time. And
• 1:12:02
  Speaker 5: we always like to say like the like the match
• 1:12:05
  Speaker 5: was lit, but the y was poor. And y'all have
• 1:12:07
  Speaker 5: definitely done that. So congratulations on that. And I know
• 1:12:10
  Speaker 5: twenty twenty one, you know it wasn't the greatest year
• 1:12:13
  Speaker 5: for you, but there's something that was missing and that
• 1:12:16
  Speaker 5: was an EYL episode.
• 1:12:19
  Speaker 2: Two times time.
• 1:12:21
  Speaker 5: You know how this thing works. So shout first and foremost,
• 1:12:23
  Speaker 5: and shout out to all the earners out there, all
• 1:12:25
  Speaker 5: of y'all man across the world, not even just the
• 1:12:27
  Speaker 5: United States. I want to say, all our global earned
• 1:12:29
  Speaker 5: Shout out to all of y'all. Y'all have just been
• 1:12:32
  Speaker 5: spreading the word of the euy L and the word
• 1:12:35
  Speaker 5: of financial literacy. So thank you and thank you for
• 1:12:37
  Speaker 5: all your support. Shout to all our patrons on Patreon,
• 1:12:41
  Speaker 5: and shout out to everybody in the merged team. Shout
• 1:12:42
  Speaker 5: out to all our people in EYL University. We got
• 1:12:45
  Speaker 5: the team has grown, so we got a lot of
• 1:12:46
  Speaker 5: people over there. We got some professors, so shout out
• 1:12:49
  Speaker 5: to them, and yeah, keep rocking with us.
• 1:12:51
  Speaker 6: Thank you guys for rocking with us. We'll see you
• 1:12:53
  Speaker 6: next week.
• 1:12:53
  Speaker 3: Peace my graduates from my school being forced bags drop
• 1:13:02
  Speaker 3: drop bag, drop bag drops.
• 1:13:15
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