There are many asset classes you can invest in real estate. One of them is the mobile home park and for some, it is the best niche there is. Today, we look back at our conversations with real estate entrepreneurs Ryan Narus and Jonathan Tuttle who both found success in mobile home park investing.
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Ryan talks about the creative ways to make money to scale your business up and how he now owns and operates 15 mobile home parks spanning more than 1,400 units. Meanwhile, Jonathan shares valuable insight into how he minimizes downturn effects, along with his secret to good management of mobile home parks. Enjoy the show!
Key Points From This Episode:
- Where Ryan is presently and how he got there from having more debt than cash.
- Transitioning from an unfulfilling job in Corporate America to going full-time in mobile homes.
- How Ryan took five years to read, self-assess, prepare, and then take the leap.
- Why Ryan suggests that listeners shouldn’t let their partners’ doubts be a hurdle.
- The hardest part of Ryan’s real estate journey has been finding what he truly loves to do.
- Who mobile home parks serve and the challenges that mobile home parks are facing.
- Why Jonathan’s mobile home parks were resilient to the 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.
“Once you find what you’re meant to do, you will find that all of this middle-class lifestyle, that you think you’re addicted to and can’t let go of, doesn’t make you happy. Literally moving into a mobile home will skyrocket your happiness, and you may even lose some weight.” – Ryan Narus
“Our philosophy is let’s buy somebody’s cash flow right now, and prove the efficiencies.” – Jonathan Tuttle
“All of a sudden it comes down to this mobile home. It’s basically just a shoebox. There are no load-bearing walls on the inside, it’s just the outside. To come down, you have to basically brace the unit, and it’s gone.” – Jonathan Tuttle
Links Mentioned in Today’s Episode:
About Ryan Narus
Ryan Narus is a double graduate of Wake Forest University with an undergrad in Psychology & Statistics and an MBA. He’s a self-made real estate entrepreneur who owns and operates 15 Mobile Home Parks spanning more than 1,441 units. He started with nothing. No money. No experience. No network. He was a 20-something with way more student loan debt than actual capital to invest in deals. What makes him different is that he refused to quit, he was willing to sacrifice, and take bold action. He found creative ways to make money while he scaled his business up. He was stuck in Corporate America. He escaped. And he wants to help others too.
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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