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Florida Mobile Home Park Market
During this COVID19 epidemic, mobile home parks have outperformed other real estate asset classes. Today we talk with Eloy Retana about the Mobile Home Park Market in Florida and how he considers them a safer asset for investment as we enter a period of economic uncertainty.
Eloy and his partner have done quite well in this market as housing affordability has become more of a problem. Since it is more difficult for a mobile home tenant to move, Eloy enjoys the stability and longevity of the tenants. Up until recently, investors in the mobile home park market have been seeing 15%-20% cash on cash returns with the potential to double their money within 5 years. Although lately it’s been more difficult to reach those returns with the increased competition and rising prices. However, great returns and cash flow are still there for savvy investors.
Key Discussion Points
[01:03] Opening remarks by Eric Odum and Steven Silverman
[07:42] About our guest: Eloy Retana
[08:41] How did you get into the real estate business?
[09:51] How did you migrate into mobile homes?
[17:19] How is it working with you syndicating your deals?
[19:55] What would you advise for folks wanting to leverage syndication to get bigger deals?
[23:35] How is the supply in the mobile home park market?
[27:35] What kind of ROI can investors expect for mobile home parks relative to other investments?
[28:53] What do you like about investing in Florida?
[30:25] What are the pros and cons of a partnership model?
[31:51] When someone leaves a mobile home, are there still people buying mobile homes and moving into parks?
[32:35] Has debt been easier or harder over the last 12 months? What does your debt look like?
[34:20] How do you find these mobile home parks to invest in?
[35:34] How can folks contact you?
[37:05] Closing comments by Eric & Steven
About our Guest
Eloy Retana is a passionate real estate investor based in Denver, Colorado but who invests in Florida. He is the Principal & Investor Relations Manager at Apex Communities and is the host of a podcast called, “The Savvy Mobile Home Park Investor”. He’s currently invested in 113 apartment and mobile home units.
CONTACT INFO
Website: partnerwithapex.com
Text: text “free book” to 474747 for Eloy’s free eBook, “The Top 3 Reasons to Invest in Mobile Home Parks”
