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New to the idea of investing in mobile home parks for monthly passive income?
In this podcast episode of The Legacy Wealth Podcast, I interviewed Brad Rymer CFO @ Haven Capital Ventures. He has been in the mobile home park industry for decades and in this episode he helped us understand why there’s such a hot trend in buying mobile home parks over the last few years. We cover that In addition to the consistency and reliability of cash flows in mobile home communities, the financial advantages of mobile home communities, and understanding the differences between mobile home parks and traditional multifamily properties.
// About The Guests:
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Brad Rymer is the Co-Manager, CIO, CFO at Haven Capital Ventures, a Manufactured Housing Community Investment Firm headquartered in Bonita Springs, FL. Their strategy is to purchase core Manufactured housing communities that they can move slightly upscale, with deficient market rents, upgrade the conditions, and benefit from appreciation and value-add strategies that only come via the focus they have gained over time. Their strategy is purchase cashflow producing mobile home park communities, from mom & pop operators across the United States focusing on improving cashflow & increasing value. Since founding in November 2022, Haven Capital Ventures, has raised more than $2,200,000 with their 2nd fund currently fundraising.
Pascal Wagner is the founder of the Grow Your Cashflow Network which was formed to help accredited investors learn how to earn consistent passive income from private investments.
Previously, he was the Fund & Portfolio Manager at Techstars, making over 300 follow-on investment decisions primarily for the Techstars Ventures ‘17 and ‘21 Funds, he founded Walkthrough, which was acquired by PlanOmatic in 2019, he founded Online Ad Labs which was acquired by PosterBrain in 2016, and he has owned a growing portfolio of real estate properties across the United States since 2013.
// About The Show:
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Welcome to The Legacy Wealth Podcast where we help accredited business owners become educated & get access to, private investments that the wealthiest investors in the world utilize to grow their net worth. We do this by providing insight & access to successful fund managers & investors across multiple asset classes.
// Links Related To This Episode:
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- Learn how to earn passive income from private investments: www.growyourcashflow.io
- Get access to our deal database of all 506(c) cashflow opportunities we come across at: www.growyourcashflow.io/investor-club
- Follow Pascal Wagner on Social: www.investwithpascal.com
- Follow The Legacy Wealth Podcast on your favorite platform: https://legacywealthpodcast.transistor.fm/
- Watch the show on YouTube: https://youtu.be/WKW6O7wASP8
- Reach out to Kris Benson on Linkedin: https://www.linkedin.com/in/bradprymer/
- Learn more about Haven Capital Ventures: www.havencapitalventures.com
// Key Time Stamps & Topics
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00:00 - Intro:
01:15 - Brad's Background
02:00 - Exploring the acquisition criteria and strategy of Haven Capital Ventures
02:45 - Describing the transition from trailer parks to mobile home communities
03:15 - Identifying undervalued and mismanaged communities for investment
03:45 - Strategies to boost and modernize mobile home communities
04:15 - Spotting opportunities for improving expense ratios and taxation
06:00 - Characteristics of mobile home communities in different regions
07:15 - The separation of lot rent and home rent for tenants
08:00 - The desire for tenants to own their homes
10:00 - Simplifying the financial advantages of mobile home communities
10:59 - The concept of mobile home communities as 2-dimensional apartment buildings
12:30 - The idea of modernizing the RV market.
13:00 - The challenges of placing small homes on mobile home lots
15:00 - Brad talks about his extensive background in commercial real estate
16:15 - The consistency and reliability of cash flows in mobile home communities
17:30 - Brad discusses the recapitalization process and its purpose
20:00 - Brad talks about reaching a point of exhaustion and the decision to start Cloverleaf.
23:00 - Brad discusses the concept of a "buy box" for investments
24:00 - Brad explains the previous acquisition criteria of buying properties at a 7 cap and increasing their net income by year two.
25:45 - The importance of considering competition in the market
26:12 - The specifics of Brad's approach
27:00 - The first step is to assess what competitors are doing in the market
27:45 - The importance of paving roads and providing amenities to improve the community
28:30 - Brad highlights the significance of maintaining tenants and creating value for the community
29:00 - Assessing what keeps the property's rents below competitors
30:00 - The strategy of raising rents gradually and passing through utility charges
30:47 - The goal is to bring in new tenants and increase occupancy
31:05 - The opportunity for tenants to own brand new homes and buy their used homes
31:30 - The potential to bring in new tenants and increase occupancy further
32:45 - Brad shares how he got into the mobile home park asset class
35:30 - The resilience and consistency of mobile home park investments
38:45 - Brad warns against assuming that operating mobile home parks is the same as other multifamily properties
39:30 - The importance of understanding the differences between mobile home parks and traditional multifamily properties.
41:30 - The risk of underestimating the unique operational challenges of mobile home parks
42:30 - The danger of significantly increasing rents without understanding the market
44:12 - Brad discusses the risks associated with investing too quickly
45:30 - The importance of having expertise when investing in different markets
46:30 - The strategy of identifying mom-and-pop operators and acquiring additional communities around them.
48:00 - Brad talks about the need to be proactive in identifying potential acquisitions
48:52 - Outro
Creators & Guests
Host
Guest
Brad Rymer
Brad Rymer is the Co-Manager, CIO, CFO at Haven Capital Ventures, a Manufactured Housing Community Investment Firm headquartered in Bonita Springs, FL. Their strategy is to purchase core Manufactured housing communities that they can move slightly upscale, with deficient market rents, upgrade the conditions, and benefit from appreciation and value-add strategies that only come via the focus they have gained over time. Their strategy is purchase cashflow producing mobile home park communities, from mom & pop operators across the United States focusing on improving cashflow & increasing value. Since founding in November 2022, Haven Capital Ventures, has raised more than $2,200,000 with their 2nd fund currently fundraising.
What is Grow Your Cashflow Podcast?
Welcome to Grow Your Cashflow Podcast where we help accredited investors learn how to earn consistent monthly passive income from private placements.
If you're uncertain about where to invest for dependable returns, have limited access to exclusive opportunities like private placements, or are looking for expert insights and guidance on generating consistent income across various asset classes, then this show is tailored just for you.
By listening to this show, you'll achieve your passive income goals faster by learning:
🚀 Proven strategies to secure monthly passive income.
💡 Expert insights from successful fund managers and investors.
🌐 How to access exclusive opportunities in private placements.
📈 Techniques to diversify across multiple asset classes for a robust portfolio.
💰 The well-guarded secrets of wealth accumulation used by the world's elite.
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