Grow Your Cashflow Podcast

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