All Forum Posts by: Ian Tudor

@Theodore Smith - I never went to boot camp but I bought their informational package. It’s a good primer, but it depends on where you want to take your business. I don’t think it is necessary to be successful in this industry. Some of information they preach is very outdated. It will probably take you at least a year to find your first deal so keep that in mind as well. Start taking action sooner. 

I own over 100 mobile home lots in Spartanburg county. I own a park in a rougher part of town. It’s treated me well thus far. 

@Celeste Fackrell - yes, I’ve closed several deals with Entegra in NC. However they only play in the western part of the state. Out of state guarantors isn’t an issue with them. 

Another bank that we have spoke to and showed interest in MHP with a NC presence is Southern First. I’ve never done a deal with them though. 

@Barri F. - Yes, Ryan, my business partner has released 6 episodes thus far. We are shooting for one per month. 

@Mike G. - Great to hear. 

@John Jacobus - Great to hear. Ryan has uploaded several episodes to iTunes. 

@Jordan Moorhead - Love it. 

You can find it below or in my profile. 

https://itunes.apple.com/us/podcast/mobile-home-pa...

@Jeorgia B. - I’d consider a few things. One - are you looking for a tenant for a year or for multiple years? In real estate, one of the biggest margin killer is turnover. She could spend all her money in a year unless she finds a job. Second, rent all at once is wonderful from a management standpoint. 

Good news. My business partner is already done with the first draft so it will be released soon. Stay tuned. 

@Paul LaSpina - I mean operators. They are investors as well but they might be have their own investor pool as well. This mean they will have control of the operations and upside. You could still get equity and experience though. I reached out to people on LinkedIn, BP, and cold emailed people. 

Find unconventional ways to get into deals. Also it just takes hard work and persistence. 

My business partner and I have spoken to several newbies who are interested in mobile home parks. One thing we have noticed is the  lack of transparency on the industry. A few educators have done a fine job getting interest in the space. However, we feel there are many things left unsaid that people would want to know more about. Our industry lacks thought diversity. 

We were thinking about releasing a podcast maybe once a month speaking to the lessons we have learned on the road. For the last 9 months, we have been the front office managers for a large asset (430 lots) in Atlanta as well as managing a few of our smaller assets (3 parks over 100+ lots in total) on the side.

Would anyone be interested in listening to this? Just curious.

Just a quick tip for all the newcomers. It takes time to buy real estate. Some people share success stories within a few months of starting. I don't think this is a good barometer. 

Plan for a year before you find the first opportunity. Hopefully you find one sooner but it will frame your expectations the right way to avoid getting discouraged in month 6 especially in a hot investment market like today.

Real estate is a long-term wealth game and it pays to be patient. Looking forward to hearing your success stories in the future. 

@Jerryll Noorden - One thing I've learned over the past year or so is that real estate is a strong network game. If you can touch 1,000s + of ears in a hour conversation, it has power. It opens up new opportunities.