Episode 6 - When to Invest in Mobile Home Parks & When to Run Away

The Mobile Home Park Expert Podcast

Featuring Jason Sirotin and Glenn Esterson, The Mobile Home Expert Podcast follows Jason on his journey as a potential investor into the mobile home park (MHP) industry. Guided by the experience and expertise of Glenn Esterson, the two discuss what it means to invest and manage mobile home parks, drilling down into each element that impacts profitability and success. Episode 6 explores the state of the MHP economy. Coinciding with the Chapter 5 from The Mobile Home Park Manifesto, Glenn breaks down whether now is a good time to invest or whether current owners should wait things out for the real estate correction that’s coming. Timestamps: 1:08 -- Are we facing a seller’s or buyer’s market? 5:12 -- What impacts the value-add? 7:13 -- MHP ownership is mostly a marathon, especially based on today’s economic cycle. 8:02 -- Whether park size matters in a down/up economy. 11:02 -- Is now a good time to build a park rather than buy one? 13:12 -- Is now the best time to sell if you’re aiming for retirement? 15:47 -- Update on deal flow and what the market looks like today. 17:19 -- Will the move by the federal government to reduce the debt help MHP deals? 19:04 -- What a buyer needs to bring to the table (the cash) for a successful sell. 23:25 -- Sample cash intake percentage for a 80 lot part that’s well-maintained. 26:25 -- Monthly cash intake after expenses and debt for sample park and what the profits would be if sold in five years. 29:52 -- Final thoughts on the state of the MHP economy.