Dec 29, 2020
Mobile home park syndication presents opportunities for real estate investors. Similar to apartment syndications, the process for investors is the same. However, unlike apartments, the due diligence process and value-add opportunities vary greatly. Todd Sulzinger is the founder of Blue Elm Investments, a real estate syndication firm focusing on adding value to distressed mobile home parks across the country.
Prior to Blue Elm, Todd spent over 25 years as a finance executive for several Silicon Valley technology companies specializing in financial analysis, business modeling, and investor relations.
In this episode, Todd shares why he left corporate finance in Silicon Valley to focus on real estate investing, tips to start out in syndication, criteria for selecting markets, and what to look for when investing in mobile home parks.
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The holy grail of a mobile home park deal is when all the utilities are provided by the city, but that’s not always the case.
In a lot of parts of the country, mobile home parks are just great affordable housing
It’s the blue-collar, retail, and service workers that fill our parks.
Those that stick to it, are more likely to overcome it.
I gave too much power to my property managers. This taught me that even when you have an outside manager managing your properties, you still have to make the decisions and you shouldn’t rely 100% on the PMs.
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Wish I Knew When I Was Starting Out:
That it’s possible to make your dreams a reality.
See what happens in the affordable housing and mobile home park space.
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