Pricing Power with Mobile Home Parks featuring Steve Baik

In this episode of the Property Profits Real Estate Podcast, Dave Dubeau sits down with Steve Baik, a seasoned investor in mobile home parks. Steve shares insights into his real estate investing business, which boasts over $60 million in assets under management and focuses on expanding mobile home parks and self-storage facilities.

Steve discusses the significant benefits of investing in mobile home parks, including pricing power, stable cash flow, and lower competition compared to other asset classes. He explains how raising rents in mobile home parks has minimal pushback, especially since tenants typically own their homes and face high relocation costs.

The conversation also delves into the challenges of managing tenants, especially in lower-income areas, and how the team works to maintain community standards. Steve emphasizes long-term hold strategies, which offer steady cash flow and eliminate the risks associated with constant buying and selling.

If you're curious about the mobile home park business, the benefits of investing in affordable housing, and how Steve plans to scale his operations in the next few years, this episode is packed with valuable insights!

Key Highlights:

• Mobile home parks offer strong pricing power with minimal tenant turnover.
• Benefits of long-term ownership over quick flips for higher cash flow.
• The growing demand for affordable housing.
• How Steve is expanding his portfolio and focusing on states like Texas, Washington, and Arizona.

 

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