In this episode, Dr. Allen Lomax interviews Walter Johnson, an expert in mobile home park investing. They discuss why it’s important to look in different directions when investing and why mobile home parks can be a lucrative investment opportunity. Walter shares his journey in real estate investing and how he transitioned from apartment buildings to mobile home parks. They also discuss the impact of recessions on different types of investments and the current state of the mobile home park market. Walter provides insights on finding deals, underwriting, and managing mobile home parks.
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Main Points:
- When everyone is looking in one direction, it’s a good idea to look the other way to find investment opportunities that are not as crowded.
- Mobile home parks can be a lucrative investment option, especially in secondary markets with higher home prices and some traffic.
- Buying cash flow assets, like mobile home parks, can help investors survive recessions and maintain positive cash flow.
- Direct mail campaigns can be an effective way to source mobile home park deals.
- Having an onsite manager or a manager who lives in the park can be beneficial for managing smaller mobile home parks.
- Money is not the key to happiness, but it can provide more options and autonomy in life.
- Finding good people and giving them money can lead to positive outcomes, while giving money to bad people can lead to negative outcomes.
Connect With Walter Johnson:
- walter@sonoscapital.com
- https://www.sonoscapital.com
- https://www.linkedin.com/in/walterjohnson2/