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339: 60,000 Tenants?! How Frank Rolfe Built a Mobile Home Empire

339: 60,000 Tenants?! How Frank Rolfe Built a Mobile Home Empire

FromBiggerPockets Real Estate Podcast


339: 60,000 Tenants?! How Frank Rolfe Built a Mobile Home Empire

FromBiggerPockets Real Estate Podcast

ratings:
Length:
91 minutes
Released:
Jul 18, 2019
Format:
Podcast episode

Description

Over 20 years' experience in mobile home park mastery! On today’s show, Brandon and David interview Frank Rolfe, an experienced mobile home park investor with TONS of great advice to share—and share he does! You won’t want to miss Frank’s incredible tips for using seller financing to buy parks, staying low risk while scaling, and the beauty of owning “small cities”! He also gives fantastic advice for making “stakeholders” out of tenants, describes what the perfect mobile home park setup looks like, and discusses how to find pocket listings no one else is seeing. Frank goes on to share the incredible story of how he bought a mobile home park with a wrestling ring in the back and how he sold it for a $1 million profit seven years later! In addition, he talks about his strategy for finding the perfect resident manager and insuring yourself against embezzlement from your management team. This is one of the most information-packed shows we’ve ever done in the MHP space, and you’ll be blown away by the amount of content here. Download it today! In This Episode We Cover: How Frank uses seller financing to buy deals he never could with a bank How he stays low risk while scaling How he got started with a billboard business How he owns “small cities” The key to doing seller financing correctly How he rents to “stakeholders” not just tenants What the perfect mobile home park setup looks like Why he loves mobile homes (aka "the gem" of real estate) Why mom and pop-type owners love mobile home parks How the average park can be bought and rents doubled year one The win-win opportunity mobile home parks provide for tenants and owners The mistakes he made on his first deal and how he learned to avoid it The No. 1 thing to look for when buying a park His strategy for finding pocket listings from brokers The 5 ways he finds parks to buy And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Business Podcast BiggerPockets Podcast 234: Tenants, Evictions, & The Dark Side of No Money Down with Ryan Murdock 21st Mortgage

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Released:
Jul 18, 2019
Format:
Podcast episode

Titles in the series (100)

Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people. Start listening and join the over one million members who are learning to invest so they need Bigger Pockets! Visit biggerpockets.com, and follow Joshua Dorkin @jrdorkin, Brandon Turner @BrandonAtBP and David Greene @DavidGreene24.