MHP Investment Team

Hello everybody,

If you were to build a 3-person dream team for acquiring and operating mobile home parks, what 3 kinds of people/skill sets would you choose?

I’m seeking experienced investor’s advice. This is what I’m thinking:

  1. Deal finder (cold caller/market analyst/information gatherer)
  2. Evaluator/Underwriter (financial modeling expert/banking connections)
  3. General Contractor (someone who can advise on cost of renovations, etc.)

Honorary mentions:

  1. Attorney (background in RE or contract law)

As for individual skill sets:

Deal finder is most valuable in today’s market, analyzing just how much you are going to make on a home run is not that important. Finding the home run is.

General contractor type is only needed in turn around/infill projects, if this is what you are seeking then this becomes the most important - unless this is accomplished, the deal-finding and the analyzing didn’t matter.

As for teams:

Matching people with similar investment goals: timeframe, workethic and “values” is more important than matching skillsets.

2 Likes

I think the three members of your team would need to be:

  1. Acquisitions person who manages finding new deals to evaluate, performs diligence on them, and gets everything together for the bank.

  2. Accounting person that manages the books on all existing parks and also manages getting loans on new parks you are trying to buy. Also manages all loans and watches over expirations.

  3. Management person that watches over all individual community managers (1 per park) and enact new initiatives to improve performance. Also in charge of all selection and training of new managers.

This assumes that the owner is watching over these three people – somebody needs to make the actual decisions based on the information coming in from all three departments.

2 Likes

I’m good at 1 & 2…