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JF3299: Jason Postill - Transforming Mobile Home Parks into Profitable Investments

JF3299: Jason Postill - Transforming Mobile Home Parks into Profitable Investments

FromBest Real Estate Investing Advice Ever


JF3299: Jason Postill - Transforming Mobile Home Parks into Profitable Investments

FromBest Real Estate Investing Advice Ever

ratings:
Length:
31 minutes
Released:
Sep 16, 2023
Format:
Podcast episode

Description

In this episode, we dive into the lucrative world of mobile home park investments with Jason Postill, a former professional baseball player turned real estate investor. Jason shares his journey from the sports arena to assembling a successful real estate team, all while providing valuable insights into the mobile home park investment landscape. Discover how he and his team turned vacant lots into cash-flowing assets, his strategies for financing mobile home parks, and why preserving affordable housing is a top priority. Key Takeaways: Overcoming the Track Record Challenge: Jason emphasizes that, even without a track record, it's possible to enter the competitive commercial real estate market. He highlights that their first deal was owner-financed, and they didn't need a significant track record to secure it. Building relationships with local community banks and having a solid business plan can open doors for investors, regardless of their experience. Mobile Home Park Financing Strategies: Jason discusses various financing options for mobile home parks, including owner financing and working with local community banks. He shares that they often opt for owner financing, providing down payments ranging from 10% to 50%. Jason emphasizes the importance of finding financing terms that align with your investment goals and strategy. Long-Term Hold Strategy and Investor Returns: While Jason's team has ambitious goals, including holding 10,000 units by 2028, they maintain a buy-and-hold strategy. They aim to refinance properties within three to five years to return capital to investors. Their typical offering includes an 8% preferred return and a 70% equity split with a seven-year hold period. This strategy allows them to maintain properties, preserving affordable housing for the long term while providing returns to investors.   Jason Postill | Real Estate Background Managing Partner of MHCI Group Portfolio:  16 mobile home parks, 749 units Based in: New Smyrna Beach, Florida and Little Rock, Arkansas Say hi to him at:  www.mhcigroup.com Best Ever Book: The ONE Thing by Gary W. Keller Greatest Lesson: Don't get stuck in analysis paralysis. Do your due diligence, and take action.   Click here to learn more about our sponsors: Delete Me BAM Capital
Released:
Sep 16, 2023
Format:
Podcast episode

Titles in the series (100)

Are you ready for the best real estate investing advice EVER? Welcome to the world's longest running, DAILY real estate investing podcast hosted by Joe Fairless. Joe went from buying $35,000 single family homes to controlling over $500,000,000 worth of large apartment communities in under a decade. Join Joe as he interviews flippers, renters, builders, passive investors, and many other successful professionals ready to give you their Best Ever advice without the fluff. Plus, tune in every Friday for a special episode as Joe shares his own real estate investing and personal development knowledge.