Podcast Episode #14: A Different Way For Mobile Home Park Beginners with John Jacob-us

Beginning in any industry can be difficult. The mobile home park industry has yet to become crowded. This is great for exclusivity, but that also means that there isn’t a tried and true blueprint. Mobile home park beginners may see their funds dry up relatively quick, with few results.
This is where the Mobile Home Expert Podcast comes in. Today, Jason and Glenn interview John Jacobus about mobile home park entry. John represents Upward Communities, who specialize in providing newcomers solid entry-level opportunities. Read on to learn more about the informative effort.

Upward Communities is for the beginners

“We explore partnership opportunities… to allow new operators to get involved in day to day activities,” says John. The group specializes in turn around parks that need work. Between 35-80 spaces in size with either “vacancies, operational problems… We like doing the hard work”. The company is incentivized to partner to help offset operational costs.
Previous efforts have been successful, and they’re looking to continue the momentum. They stick to a model of working hand in hand with their newbie investors. This allows on the job training for the mobile home park beginners without missing a step. John’s team shares their expertise to help profits grow along with the education.

Mobile home parks take work

While this approach is good for beginners, keep in mind it’s a lot of work. Because of its entry level, this stage hasn’t reached full passivity. Those averse to a hands on model may find this daunting. The idea is this is a first step to eventual passive income. It’s good to keep a realistic perspective to accurately measure growth.
In this instance, you get the experience with a guiding hand. This minimizes trial and error, and prepares you for future efforts. You can also participate based on your interests! Some prefer on-site interactions, while others prefer business operations. Either way, there are enough responsibilities in both areas to work and grow.

Mobile home park partnership deal

Upward Communities makes it simple to partner. “We’re pretty flexible on the terms. We usually give you a straight dollar for dollar equity stake.” This goes for cash and labor. Whatever you take on is what you ultimately reap.
John’s team generally invests $25k-$100,000, as well as 30% equity for their duties. “We try to determine an active role for every partner, and size a split of the equity accordingly. Then give them credit for the dollar contribution they bring to the table,” says John.

Mobile home park beginners & park owned homes

For the entry level, there are fewer tenant owned homes than park owned. Tenant owned refers to mobile homes owned by their inhabitants. Park owners claim much less responsibility across the board. Renters make up most park owned homes, with maintenance more falling on owners. Learn more about the difference between the two here.
Mobile home park beginners have a long road ahead. But, the pay off is worth it. If you’re looking for a reputable partner to help get you started, reach out to Upward Communities. Listen above to hear more on their experiences and tips.

Podcast Transcript

Jason Sirotin:
Hey, everybody. Welcome to the Mobile Home Park Expert podcast. I’m Jason Sirotin, here with Glenn Esterson. Glenn, how’s it going?

Glenn Esterson:
It’s another beautiful day.

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