Our guest today is Frank Rolfe, founder of MobileHomeUniversity.com. Frank has been an investor in the mobile home park business for 23 years and is ranked the 5th largest mobile home park owner in the country.
You may remember Frank from The Best Passive Income Model Podcast where he appeared twice on and once on an old Coffee Talk episode, but this is his first appearance on The Art of Passive Income podcast.
Mobile homes are one of the most affordable housing options available. But because of their bad reputation, nobody wants them in their backyard so federal regulations were put into place… which is one of the reasons why they appeal to Frank.
Listen in as Frank talks about the early days and how billboards led him to purchase his first park, Glenhaven, on an impulse buy over the phone. That park was losing 2k a month, but Frank saw an opportunity.
The guys take a deep look at:
- Government regulations and supply & demand
- The key to the industry
- Mismanagement and seller financing
- The deal makers and the deal breakers
Then, Frank breaks down a typical acquisition and talks about the fact that the mobile home industry is the only real estate sector that doesn’t get subsidies.
Frank also addresses the controversy behind the Oliver North rant which had called him out and so much more on this episode of The Art of Passive Income!
TIP OF THE WEEK
Mark: Learn more about Frank Rolfe and how you can create wealth in Mobile Home Park Investing at MobileHomeUniversity.com.
Scott: If you can find it, check out the book, The Man Who Bought the Waldorf; the Life of Conrad N. Hilton by Thomas Ewing Dabney.
Frank: Check out the book by Sam Zell called, Am I Being Too Subtle?
Isn’t it time to create passive income so you can work where you want, when you want and with whomever you want?