Episode 1 - Introduction to Mobile Home Park Investing

The Mobile Home Park Expert Podcast

Featuring Jason Sirotin and Glenn Esterson, The Mobile Home Expert Podcast follows Jason on his journey as a potential investor into the mobile home park (MHP) industry. Guided by the experience and expertise of Glenn Esterson, the two discuss what it means to invest and manage mobile home parks, drilling down into each element that impacts profitability and success. Episode 1 introduces Glenn and Jason, focusing on the decision to begin the journey as an MHP investor. Glenn shares his experience getting started in the business and shares how his ethical approach to MHP management has served him well in the long run of this 20+ years in the industry. Timestamps: 1:10 -- Newly published Mobile Home Park Manifesto breaks down the business through the lense of Glenn’s decades of experience. 2:51 -- How Glenn got started in the industry even when it wasn’t on his radar as an investment opportunity. 4:45 -- Managing expectations on returns as an investor. What’s realistic to expect. 6:00 -- Timetable for returns. 7:04 -- The current state of the MHP business, addressing John Oliver’s expose versus how ethical practitioners approach management. 11:06 -- Methods for achieving an upside without raising rents. 13:45 -- Biggest challenges as an investor. 17:12 -- MHP culture. 20:27 -- Fitting MHPs into the affordable housing crisis and why governments need to take MHPs more seriously when thinking about zoning and permits. 27:37 -- Advantages for investors. 30:13 -- When to ethically raise rents. 31:59 -- Whether or not mobile home parks are recession-proof. 34:30 -- The start of Jason’s journey as an investor with no real estate of MHP experience/Chapter 1 of Mobile Home Park Manifesto, the WHY. 37:57 -- Breaking down the importance of proximity for your first park. 41:16 -- Speaking to the amount of GRIT and WIT this journey takes. 42:05 -- Sharing why MHP investing is beginning to appeal to large conglomerates. 43:45 -- Jason’s narrative in becoming an investor and a realistic overview of the business. Join us next episode when Jason and Glenn discuss MHP tenants and why they really are the core of the business.