Welcome to Episode 98 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Spencer Roane is the Founder of SECO, a mobile home park conference that caters to expert mobile home parks owners and novices. Spencer owns four communities with 450 spaces and shares his experience of how he manages his parks as well as shares timeless advice for those who are looking to jump in and become a mobile home park owner.
Key Takeaways:
[2:50] What did Spencer do before he got into mobile home parks?
[7:05] When Spencer invested in his first mobile home park, what were some of his first reactions to the park?
[14:35] For Spencer, he has not had a default payment for double wide mobile homes.
[17:30] How does Spencer manage his four communities?
[22:30] How does Spencer find his properties?
[24:15] Spencer shares how he markets his properties.
[26:10] Spencer uses Rent Manager to track the financials on his properties.
[27:30] Does Spencer have plans to grow his park?
[28:55] Spencer is thinking of passing his properties down to his employees, not his sons.
[32:15] What do newbies need to know about the mobile home park business?
[34:55] Should you be new homes vs. old homes?
[37:10] There are a lot of park owners that are more than happy to help a newbie out.
[37:55] Tune in next week to find out what it’s like to run a mobile home park trade show!
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
Secoconference.com
Welcome to Episode 98 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Spencer Roane is the Founder of SECO, a mobile home park conference that caters to expert mobile home parks owners and novices. Spencer owns four communities with 450 spaces and shares his experience of how he manages his parks as well as shares timeless advice for those who are looking to jump in and become a mobile home park owner.
Key Takeaways:
[2:50] What did Spencer do before he got into mobile home parks?
[7:05] When Spencer invested in his first mobile home park, what were some of his first reactions to the park?
[14:35] For Spencer, he has not had a default payment for double wide mobile homes.
[17:30] How does Spencer manage his four communities?
[22:30] How does Spencer find his properties?
[24:15] Spencer shares how he markets his properties.
[26:10] Spencer uses Rent Manager to track the financials on his properties.
[27:30] Does Spencer have plans to grow his park?
[28:55] Spencer is thinking of passing his properties down to his employees, not his sons.
[32:15] What do newbies need to know about the mobile home park business?
[34:55] Should you be new homes vs. old homes?
[37:10] There are a lot of park owners that are more than happy to help a newbie out.
[37:55] Tune in next week to find out what it’s like to run a mobile home park trade show!
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
Secoconference.com
Welcome to Episode 97 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Todd Foster currently owns six parks and has an interesting management philosophy that makes his parks easier to deal with, especially on the tenants’ side. Tenants feel empowered in Todd’s parks and Todd shares why in today’s episode.
Key Takeaways:
[1:40] What did Todd do prior to getting himself into mobile home parks?
[2:40] Todd actually grew up in a park back in Washington.
[4:10] After taking over his father’s parks, how did Todd grow from two to six parks?
[6:00] How has Todd’s management style evolved over the years?
[9:15] Todd has attended plenty of seminars and they all have an undertone theme of how to fight, and win, with their tenants/local government. Why does it have to be that way?
[9:45] Todd set out to fix this problem. He wanted to make homeownership a pleasant experience for everyone.
[10:05] None of Todd’s rental agreements say the word ‘tenant’ on them. Why is that?
[12:35] Todd makes it a point to take a bit of time before enforcing the rules. He likes to give three warnings before taking action and going to court. However, once he goes to court, it’s over.
[19:05] Todd has allowed his residents to set up a rules committee. How does he prevent abuse of the rules from happening?
[21:55] How big are Todd’s parks?
[27:15] There is no law against renting to a person who is not a U.S. citizen in Oregon or Washington.
[27:55] Todd shares some advice for fellow park owners out there.
[30:45] Remember to always hire good people. Managing a park is a lot of work, even if you live in town.
[33:00] Todd is more than happy to help. Email him and let him know you heard him on this podcast.
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
Email Todd: OrrenFoster@comcast.net