Brad and Jefferson are joined by Paul Bradley, the Founding President of ROC USA. Paul helps tenants acquire their mobile home parks, and explains in detail the steps residents need to take to go from rentee to owner. This episode is part one out of a two part interview, so be sure to come back next week and hear more from Paul!
Key Takeaways:
[1:10] Last week Brad was hacking through the Everglades of North Carolina, looking for good mobile home park deals.
[1:30] Paul and his company help tenants buy their mobile home parks from their park owners.
[2:35] Who is Paul, and how did he get involved with ROC?
[6:10] Paul spent 2006-2007 writing a business plan for ROC USA.
[6:40] Is it true that 20% of all mobile home parks in New Hampshire are owned by the residents?
[7:10] In what states is the ownership by residents high/low, and why?
[9:00] What does a limited equity model mean, and how does it work?
[12:30] Homeowners benefit from this model by essentially borrowing equity at market rates.
[15:25] How does Paul generate his deal flow?
[17:20] How do residents buy a park?
[24:15] The first due diligence loan typically runs between $20,000-30,000.
[25:40] Paul and his team have a $12 million dollar balance sheet in assets, which is why they are able to hold, retain, and position themselves well, in these loans.
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
