Welcome to Episode 93 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Jefferson sits down with Brandon Turner and Ryan Murdock. They’re both experienced real estate investors, but they recently purchased their first mobile home park in Maine. Brandon and Ryan give details on what their business partnership looks like, their due diligence process, and also share some of the challenges they had to face while owning and renovating this ‘new’ park.
Key Takeaways:
[3:00] How did Brandon and Ryan first meet?
[5:10] How did Brandon get into mobile home park investing?
[7:50] What kind of partnership agreement did Brandon and Ryan agree on?
[9:25] To be fair, Brandon and Ryan aren’t technically partners. They both own a piece of the mobile home park, separately.
[14:35] What kind of challenges have Brandon and Ryan experienced on the mobile home property so far?
[20:25] What was the due diligence process like?
[26:45] Did Brandon and Ryan run test ads before buying the park?
[33:35] How does a mobile home park compare to other properties Brandon and Ryan have owned in the past?
[38:50] What kind of financial goals do Brandon and Ryan have with this park?
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
Biggerpockets.com
Ryan on the Biggerpockets.com podcast