In this enlightening episode, we delve into the world of real estate investments within the mobile home community sector with Sam Hales, a distinguished private equity real estate fund manager at Saratoga Group. With an inspiring journey that transitions from his early days on an Iowa hog farm to spearheading innovative investment strategies, Sam shares invaluable insights into the resilience and potential of manufactured housing.
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Main Points:
- From Humble Beginnings to Real Estate Innovator: Discover how Sam’s foundational experiences in hard work and perseverance on a hog farm contributed to his success in the real estate sector. His story is a testament to the power of determination and the diverse paths to success in the industry.
- Addressing the Affordable Housing Crisis: Sam raises critical concerns about the current state of industrial agriculture and segues into a discussion on the importance of affordable housing solutions. He advocates for market-driven approaches over government subsidies, emphasizing the role of education in fostering this mindset.
- Saratoga Group’s Unique Approach: Learn about the vertically integrated strategy that sets Saratoga Group apart. By managing properties in-house, leveraging technology, and operating their own construction company, they not only save costs but also provide affordable housing solutions that don’t rely on institutional capital.
- The Challenges and Rewards of Mobile Home Park Management: Managing mobile home parks comes with its set of complexities, from infrastructure maintenance to navigating financing hurdles. Sam shares his experiences and the attractive investment returns that make these challenges worthwhile.
- Innovation Through Adversity: A compelling story from Radcliffe, Kentucky, showcases how facing a significant infrastructure issue led to innovative solutions and unexpected opportunities. Sam’s experience underscores the potential for innovation in the face of adversity.
- Engage with Saratoga Group: Sam concludes with an invitation to explore more about their mission-driven work and investment opportunities. Whether through their website, LinkedIn, or participating in upcoming webinars, listeners are encouraged to learn more and engage with the future of manufactured housing investments.
Join us for this episode as Sam Hales provides a fascinating look into the world of manufactured housing, offering a blend of personal journey, industry insights, and actionable advice for those interested in the intersection of affordable housing and investment opportunities.
Biography of Sam Hales:
Private Equity Real Estate fund manager with $300M+ AUM and Founder of the Saratoga Group. Saratoga Group was established in 2011 and is exclusively focused on the purchase, revitalization, and operation of Mobile Home Communities. Sam’s previous real estate experience includes distressed asset workouts, land development, redevelopment, and lease options. Aside from being the lead investor/developer in the entitlement and development of large tracts of land, since 2009, he has been actively purchasing single-family properties in the Sacramento and Bay Area markets. Sam has touched nearly every CRE asset class including industrial, office, hospitality single, and multi-family. But he loves the MH asset class and believes it is a vital part of the solution to today’s housing affordability crisis. Sam is passionate about helping local communities. He is an active member of the Auburn Economic Development Council. Sam currently sits on the board for Auburn Sutter Faith Hospital and volunteers with local Boy Scouts and Church youth groups. Sam received his MBA from The Wharton School of Business with an emphasis in Finance and a BS from BYU in Chemical Engineering.