For years mobile home parks weren’t the places real estate investors were interested in. But in today’s climate, this asset class is becoming an increasingly rare breed with more and more investors sniffing out opportunities wherever they can find them. Today we speak with a mobile home expert who has been in the game for 15 years. His name is Jonathan Tuttle, a Fund Manager at Midwest Park Capital. We open the show by hearing how the pandemic has affected Jonathan and his business.
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After discussing the way that mobile home park values have soared during the pandemic, we find out about who Midwest Park Capital serves, and why mobile home parks are needed now more than ever. Later in the show, Jonathan shares valuable insight into how he minimizes downturn effects, along with his secret to good management. As mobile home parks become more scarce, Jonathan reveals what a good deal looks like and how you can find one. To finish off, we find out about what makes Jonathan tick, asking him how he maintains his discipline, his daily habits for success, and much, much more. Be sure to tune in today!
Key Points From This Episode:
- Introducing today’s guest, fund manager Jonathan Tuttle.
- Jonathan shares a brief history of his professional career.
- Why Jonathan uses a fund instead of doing individual syndications.
- How the pandemic has affected Jonathan’s properties.
- Who mobile home parks serve and the challenges that mobile home parks are facing.
- Why Jonathan’s mobile home parks were resilient to downturn.
- Ways that Jonathan manages his mobile home properties.
- Hear about how to find good mobile home park deals.
- Why it isn’t a great idea to invest in non-existing mobile home parks.
- The hardest part of the syndication business for Jonathan.
- How COVID has changed the way Jonathan will prepare for future downturns.
- Daily habits that have helped Jonathan achieve success.
- Recent improvements Jonathan has made to his business.
- Some of Jonathan’s best ways to meet new investors.
- Hear about Jonathan’s biggest keys to success.
- How Jonathan likes to give back to those around him.
[bctt tweet=”With mobile home parks it’s not, ‘Buy a park now and then five years buy another park and another five years after that.’ Because most of these are once in a lifetime deals. — Jonathan Tuttle” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Jonathan Tuttle
Jonathan is the Fund Manager at Midwest Park Capital, a private real estate investment firm providing accredited investors with exclusive access to high-yield investment in the mobile home park vertical. Their fundamental strategy is to assemble a diversified portfolio of low risk, high cash flow mobile home park assets with the goal of delivering capital preservation consistent quarterly cash on cash income paired with equity growth. Jonathan previously served as the President of the Midwest for Yale Realty and Capital Advisors.
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