After having reviewed hundreds of mobile home parks in due diligence, you eventually realize that many park owners tend to have three different sets of books: 1) their Profit & Loss statements 2) their tax returns and 3) what they tell you the financial performance has been. And while it's uncommon to find all of these being equal, there are some cases in which they are lightyears out of alignment. And that can be a warning sign flashing "danger ahead".
Read MoreThe October 2024 Commercial Real Estate Investing Newsletter
Making the transition from your day job to owning an RV park is a journey that can offer both personal fulfillment and financial independence. Many dreams of breaking free from the 9-to-5 grind, and owning an RV park presents a unique opportunity to live and work in an environment of your choosing. However, this leap requires thoughtful planning. Here’s a guide on how to make that shift with confidence.
Read MoreOutdoor signage is one of the most reliable ways to communicate with potential customers. A well-crafted sign does more than just identify your business—it acts as a constant advertiser, grabbing attention and keeping your message in front of every passerby, whether they need a place to store their belongings or are simply taking notice for future reference. However, a poorly designed sign can lose that advantage, blending into the background and missing the opportunity to engage potential clients. The effectiveness of your sign hinges on a few key design choices, and getting this right can make all the difference. Let’s explore what it takes to create signage that stands out and delivers results.
Read MoreWhen you manage billboards, your territory is often quite expansive—sometimes stretching up to 4 or 5 hours in every direction from your home base. This wide footprint means that, in many cases, you'll be working across multiple states. In regions like Missouri, for example, your operational area could cover six different states. But how complex is it to handle business in more than one state?
Read MoreThe original layout for mobile home parks was a simple, straight street with homes placed on both sides of the lane. This is called a "shotgun" park and one of the greatest challenges to these early offerings is to make them attractive. In this Mobile Home Park Mastery podcast we’re going to review some of the best steps to increase the aesthetics of this style of property to both retain and attract residents.
Listen To Episode 364RV Park owners have been blessed with an endless progression of income streams, including glamping. And now there’s a new one called RV Share.
Watch The VideoWith America more polarized than ever, the uncertainty between blue and red has never felt greater. But now that the election is behind us, it’s time to get down to business—regardless of who comes out on top.
Watch The VideoOne of the most important skills you can possess as an RV Park buyer is the art of negotiation. While most buyers understand the concept of starting low and triangulating the final price from the back-and-forth of price haggling but one element that often goes overlooked is the “Flinch”. In this RV Park Mastery podcast, we’re going to review what the “Flinch” is and why it’s imperative that you adopt it immediately when negotiating on RV Parks.
Listen To Episode 110Webster’s Dictionary defines an “appraisal” as “an expert opinion of value”. But sometimes the expert gets it wrong and your deal can collapse under the weight of that mistake. In this Self-Storage University podcast, we’re going to explore what the options are when the appraisal comes in too low.
Listen To Episode 108If you have a vacant billboard then your number one goal is to find an advertiser and fast. In this Billboard Mastery podcast we’re going to explore two “built-in” lists of advertisers that have perhaps your best odds of success.
Listen To Episode 104It should be the goal of every mobile home park owner to make sure that no home ever goes vacant. Part of being the caretaker of the property is to also be the catalyst to a happy resolution to any risk of a resident leaving without warning or the ability to mitigate the damage. In this Mobile Home Park Mastery podcast, we’re going to explore the reality of keeping a steady stream of rent from every lot in the park.
Listen To Episode 363In the world of mobile home parks, the role of a strong manager is paramount. While every park may have its own challenges, a skilled manager can make all the difference in tenant satisfaction and overall success. Today, we’re diving into the practices of one exceptional manager who has achieved unparalleled results. Without revealing too much, it’s clear that their approach can serve as a model for managers aiming to elevate their game.
Read MoreWhen managing or purchasing an RV park, flood risk isn't just a small detail; it’s a crucial factor that can affect the safety of your guests and the long-term success of your investment. Recent events like Hurricane Helene, which devastated low-lying areas, and the imminent threat of Hurricane Milton remind us of the ongoing importance of understanding flood risks. RVs may float, but that’s not their purpose—and neither is rebuilding after a flood.
Read MoreWhen you're negotiating the purchase of a self-storage facility and the seller won't budge on price, you're faced with a tough decision: should you keep pushing for a lower price at the outset, or lock the deal in with the intention of renegotiating during the due diligence period? There’s no one-size-fits-all answer, but here are some key factors to weigh.
Read MoreWhen discussing billboard advertising, many salespeople misunderstand their role. They often treat billboard space as just another operational expense for businesses, like paying for utilities. However, the correct perspective is to see a billboard as an investment. When a business rents a billboard, they are investing in the potential for higher returns through increased sales and profits. Communicating this concept to advertisers forms the backbone of successful billboard sales, leading to higher client retention and renewals.
Read MoreIn a world in which everyone has abandoned Nikon cameras for cell phones, taking good pictures has become a lost art. And the end result can be poor home sales as you try to fill your vacant lots. In this Mobile Home Park Mastery podcast we’re going to review how to take great photos and use them as an important tool to get your mobile homes sold.
Listen To Episode 362