When you own a mobile home park you are in charge of a large water and sewer system – whether you like that or not. That's because virtually all mobile home park water and sewer lines are on your private property and the utility provider has no responsibility over them. Although most mobile home parks have little problem with this issue – except for the occasional water leak or sewer clog – there are certain cases of mobile home parks that have extreme sewer problems and smart buyers will want to get price reductions to accommodate the work needed to fix them or avoid them altogether. So what are the top four signs of a troubled mobile home park sewer system?

We get asked frequently about when – and if – mobile home parks ever end up in such bad financial problems as to come to auction in foreclosure or in a distressed sale format. While most mobile home park owners tend to be on the conservative side due to decades of negative stigma, and most banks are only willing to lend at about 70% LTV based on pessimistic underwriting, nevertheless there are some operators who get in trouble through a combination of too aggressive lending, seller financing without a plan when the loan comes due, or basically no management ability or plan. Here’s a primer on how these deals come to market and how to take advantage of them.

The late Sam Zell was always an advocate of only buying assets with liquidity. That was the secret that allowed him to get in and out of real estate when he felt a crash was coming. And it saved him from doom in the 2007 Great Recession, as he was able to unload his office holdings right before they crashed. His nickname was "the Gravedancer" as he was able to nimbly get out of asset sectors right before they turned bad, as well as buy them when others thought they were doomed and they were actually about to head up. But illiquidity can actually serve as a tool when buying RV Parks if you use that lever to your advantage.

Many people track how many mobile homes are sold in the U.S. and are only focused on the total number that are shipped each month. But the more important information for park owners is found in where those homes go. In this Mobile Home Park Mastery podcast we’re going to derive some meaningful conclusions from the 2023 manufacturing data.

It would appear that interest rates are about to begin their descent after the fastest rise in 40 years. Beginning in 2022, Jerome Powell from the Fed decided to take the rates from 0.25% to 5.5%. However, that all appears about to turn and this will usher in some great advantages for RV Park investing. In this RV Park Mastery podcast we’re going to review what these benefits will be.

One of the cardinal rules of investing in a self-storage facility is making sure you have your downside protected. To help facilitate this analysis, many buyers and lenders will “stress test” the proposed deal to see if they can survive the “worst case” scenario. In ths Self-Storage University podcast we’re going to explore the correct way to “stress test” a deal and what the key metrics need to prove in order to go forward.

With inflation and a troubled economy, many advertisers are trying to economize and one of the best ways to facilitate this is with a “combo” sign framework. In this Billboard Mastery podcast we’re going to review how a “combo” sign can be a blessing in tough times and what the key tips are to make them successful.

In the realm of commercial real estate, your success hinges on what you buy. The initial choice of property is where you make your money. Even the best manager can't salvage a poor property choice, while a great property can thrive despite mediocre management. Being a savvy shopper, identifying true opportunities, and distinguishing them from pitfalls is crucial. If you’re unsure, it’s better to wait and learn than to rush in blindly.

You've found the perfect spot for your billboard, secured a ground lease, and are ready to start building. But where do you find the money for this venture? This question has crossed the minds of everyone in the billboard business, from industry giants like Clear Channel to first-time sign owners. Here are some financing options to consider.

Discover the science behind successful transformations and gain insights into the good, the bad, and the ugly of mobile home park investments.

When the seller carries the financing they typically don’t require a formal appraisal. Despite the absence of a formal loan committee there’s still the need for a Phase I Environmental Report and a survey. But do you need to have an appraisal done? In this Mobile Home Park Mastery podcast we’re going to explore the uses of an appraisal, the cost vs. benefit, and some alternatives to help you gain confidence in the price you are paying.

Warren Buffett’s Berkshire Hathaway bought around 63 million shares of Paramount in 2022 and then lost around 50% on that investment in only two years. Buffett admitted that where it all went wrong was in relaxing his standards regarding a “moat” – a wall that protects a good business from competition. Paramount had no “moat” and the competition destroyed it with shares plunging from $30 to around $13. We have always adhered to Buffett’s “moat” mantra and that’s why we’re in the mobile home park business.

There is around $2 trillion of commercial real estate loans coming due in the next two years, and there’s an anticipated $1 trillion of losses when those loans renew, thanks to the terrible performance of office and retail properties. And most of this financial catastrophe will fall upon regional banks that may well fail and send the entire banking industry into a freefall, similar to what happened in the Texas Savings & Loan crash of 1987. In this Self-Storage University podcast we’re going to explore what the “commercial lending apocalypse” is all about and how to insulate yourself from the potential impact.

When it comes to negotiating a winning billboard ground lease with the property owner, there are a number of different styles and strategies. But probably the most effective is the concept of “inclusive” negotiation. In this Billboard Mastery podcast we’re going to explore what “inclusive” negotiating is all about and why it is probably your best shot at getting great deals done.

It comes as no surprise that America has become enormously corrupt in so many ways. Simply watching the news gives you a full knowledge of how “rigged” our systems have become. In this Mobile Home Park Mastery podcast we’re going to explore what the corrupt systems are that mobile home park owners have to contend with and how to properly fight back or work around them.

Brokers have been the source of more than half the deals we’ve purchased over the past 30 years. But one big mistake some buyers make is to look at the broker as more than just the source of the RV Parks they buy. In this RV Park Mastery podcast we’re going to explore the reasons why you should keep all brokers as great resources for deal flow but not turn them into deal evaluators or sounding boards for your turn-around concepts.

In recent discussions within the mobile home park sector, the term "land-lease communities" has surfaced as the newest contender for renaming what many still call a mobile home park. This industry has seen its fair share of rebranding efforts, from "coach park" to "trailer park," and now to "manufactured home community." Each iteration aims to shake off old connotations and refresh the image presented to tenants and investors.

The term "buying a job" is often viewed with skepticism when it comes to investing in real estate. However, this skepticism isn't as prevalent when discussing substantial educational expenditures aimed at securing future employment. For instance, spending $200,000 on a law degree or $400,000 on medical school is generally seen as a justified pathway to a professional career. So why view real estate investment, such as owning an RV park, any differently?

As a business owner, you might occasionally face situations where you suffer a loss and wonder whether to report it to your insurance company. Reporting a loss can seem straightforward, but the implications on your future premiums need careful consideration. Here's a straightforward guide to help you navigate these decisions.

Driving along highways, it’s common to spot billboards that have seen better days: weathered, graffiti-tagged, or simply falling apart. These structures, often in prime locations but in poor condition, represent unique investment opportunities. Here’s a practical guide on how to turn an abandoned billboard into a profitable venture.

In August 1900, Galveston Island, Texas suffered the worst natural disaster in U.S. history, with over 10,000 killed in a single hurricane. This crisis could have been largely avoided except for the flaws in human nature that we see bringing continual losses in the stock market over the past century. Here are the life lessons from the Galveston hurricane that apply to investing and should be avoided if you want to be successful.