DeepSummary
In the podcast episode, Kevin Bupp shares his journey from residential real estate investing to focusing on mobile home parks and parking lots. He discusses the challenges he faced during the 2008 financial crisis and how a chance encounter led him to explore mobile home parks as an investment opportunity. Kevin highlights the resilience and affordability of mobile home parks, making them a recession-resistant asset class.
Kevin delves into the value-add strategies they employ for mobile home parks, including increasing rents, addressing operational inefficiencies, and bringing in new homes. He also explains their approach to parking lot investments, focusing on strategic locations with multiple demand drivers and the potential for future development.
Throughout the episode, Kevin emphasizes the importance of due diligence, whether investing actively or passively. He advises active investors to thoroughly research the asset, market, and infrastructure, and passive investors to thoroughly vet the sponsor and investment team.
Key Episodes Takeaways
- Mobile home parks and parking lots can be resilient and recession-resistant asset classes.
- Due diligence is crucial for both active and passive investors in these asset classes.
- Value-add strategies like increasing rents, addressing operational inefficiencies, and bringing in new homes can enhance returns in mobile home parks.
- Parking lot investments should focus on strategic locations with multiple demand drivers and potential for future development.
- The limited supply of mobile home parks, due to stigma and zoning challenges, contributes to their investment potential.
- Active investors should be self-aware of their goals and lifestyle compatibility with managing these asset classes.
- Passive investors should thoroughly vet the sponsor and investment team before investing.
- Cost segregation studies can unlock significant tax benefits for mobile home parks and certain types of parking lots.
Top Episodes Quotes
- “But, like, mobile home parks? Never considered it. He's like, well, let me give you the bullet points. And he kind of ran through, like, the reasons why he loved it.“ by Kevin Bupp
- “So I think it's just the, you know, the whole understanding and the vision skewed. Um, and so for that reason, I. I don't see any type. I mean, I see new developments being approved that maybe even ten years ago, it wouldn't have been, you know, the time of day wouldn't been given to that.“ by Kevin Bupp
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Episode Information
Tax Smart Real Estate Investors Podcast
Hall CPA
3/12/24