Welcome to episode 53 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Brad and Jefferson are joined by Paul Bradley, the Founding President of ROC USA. The guys continue last week’s conversation about how mobile home park residents are able to go from rentee to owner. If you hadn’t had the chance to listen to part one, be sure to listen to that episode first!
Key Takeaways:
[1:30] When it comes to sign for the big bank loan, how many tenants are in charge of signing it?
[2:30] If you’re working with a company like ROC USA, their minimum membership requirement is 51% of owner-occupied homes must be members of the co-op.
[7:00] Many residents are willing to invest in the property when they’ve lived there for 10+ years or more. Residents who have only been there for 2 or so years are more likely to oppose to the co-op.
[9:15] To be clear, Paul’s company is not just a brokerage or lending operation. His team focuses on helping tenants with the purchasing process before and after the deal has been made.
[14:50] How does Paul make money on these deals?
[17:05] Once the tenants have acquired the property, how does the park get managed?
[22:05] Paul offers post-purchase education to the residents. What does that training entail?
[24:30] Have any questions? Feel free to reach out to Paul and his team!
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
