Trailer Park Secrets with Kevin Bupp
Kevin share with how he was a single family home investor prior to 2008 and what happened to his portfolio. He also talks about some of his multifamily properties.
Kevin talk about why he didn’t like single family homes because of the cash flow and how he transitioned into multifamily properties and how he was unable to find these properties.
Kevin had a lunch with a manufacture home investor and they peaked his interest and why he has moved into this type of asset class. Kevin attended a boot camp from www.mobilehomeparkuniversity.com.
Kevin talks about his criteria and his partnerships with investors and how they have shifted over the years into trailer parks.
Kevin talks about different types of parks and ownership types varying from leasing the lots to actually owning the trailers and combinations of the two.
Kevin talks about a trailer park in Atlanta that he bought that was very distressed and how he has turned the park around. Kevin was able to take a trailer park that the mayor wanted to shut down to a place that the community was proud of. Kevin gives the details about how he bought it, renovated it and revived the property and turned it from a slum into place that people want to live.
Kevin talks about a current trailer park that he has under contract and what his plan is to turn this trailer park around. This park has been maintained but has other issues. Kevin talks about the problems with this trailer park, the management and how this is going to increase the value of the property.
Kevin is looking for 15% to 16% cash on cash return and push this property to over a 20% cash on cash return in the first year. He is looking for stable markets with good school districts.
Kevin gives his prediction for the future of the real estate market.
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