Brick by Brick - Wealth Building Conversations
Oct 23, 2026 · 55 min · 11 segments
**"I left Tesla and got into mobile home parks because I wanted cash flow that didn’t depend on me showing up every day."** But here’s what most people miss: mobile home parks aren’t “easy money.”…
Leo YoungGuestLoren WernetteHost
It was a distressed deal, kind of an unfortunate situation, but you know, basically it was another group.
The, um, the operator wasn't doing well, you know, so they have to take the property back and they were kind of motivated to sell.
So for the listener, it's like when you think of occupancy in a multifamily building, you see the occupancy go up and down.
One big difference is that for mobile home parks, the occupancy is much more stable, but it's very hard to get up.
But through that exercise, we think we tripled the book value of the property, which is far beyond our projections.
I think our rule of thumb is like, hey, we want to double your investment every five to seven years.
I think for this one, we underwrote it to be a little bit more aggressive, but still we exceeded that.
It was a distressed deal, kind of an unfortunate situation, but you know, basically it was another group.
The, um, the operator wasn't doing well, you know, so they have to take the property back and they were kind of motivated to sell.
So for the listener, it's like when you think of occupancy in a multifamily building, you see the occupancy go up and down.
One big difference is that for mobile home parks, the occupancy is much more stable, but it's very hard to get up.
But through that exercise, we think we tripled the book value of the property, which is far beyond our projections.
I think our rule of thumb is like, hey, we want to double your investment every five to seven years.
I think for this one, we underwrote it to be a little bit more aggressive, but still we exceeded that.
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