005: Frank Rolfe: Investing in Mobile Home Parks

My guest today is Frank Rolfe, Frank has been a commercial real estate investor for over 30 years, having owned and operated billboards, mobile home parks, RV parks, self-storage, apartments, retail, duplex, office, and commercial properties during that time. But he is best known for two achievements. His first big success was in the billboard industry, in which he built from scratch the largest privately-owned billboard company in Dallas/Ft. Worth, as well as a second company in Los Angeles, California. He then sold these assets to a public company in 1996 for $5.8 million. His second achievement began shortly thereafter, when he started buying mobile home parks. He is now the 6th largest owner of mobile home parks in the U.S., along with his partner Dave Reynolds, and owns over 170 mobile home parks in 20 states, worth over $500,000,000. Bestselfco., Make Success a Habit! Use the Self Journal to organize and align tactical day to day tasks with larger life goals.   In this episode you will learn: Why there is such a hug demand for mobile home parks Why the bad stigma around mobile home parks and their tenants are unfair The ins and outs of the mobile home park Industry That there is a window of opportunity right now to buy mobile home parks What type of park to buy as your first investment How to calculate the size of the park you can afford How to buy a mobile home park and improve the operations and increase cashflow Why self-storage unit buildings are a close cousin to mobile home parks Valuable investing lessons from Conrad Hilton     Recommended Books: The Man Who Bought the Waldorf; the Life of Conrad N. Hilton by Thomas Ewing Dabney   Area of Study and Skill Improvement: Personal Health   Interview Links: www.creuniversity.com www.mobilehomeuniversity.com New York Times article, “The Cold, Hard Lessons of Mobile U. Bloomberg article, “Goldman Alum Gives Up Funds to Become Trailer-Park Mogul”     Show Sponsors Audible, download any audio book for free when you try audible for 30 days. Thrive15.com, get a free month of access at www.thrive15.com/cashflow   Enter the Launch Give away contest to win a $500.00 Visa Gift Card! During the first two months of our podcast we are giving away a $500.00 dollar Visa gift card. To enter into the drawing, go to www.cashflowninja.com/Itunes and rate, review and subscribe to our podcast.   Show Transcript   Have some feedback you’d like to share? Leave a note in the comment section below and please share it using the social media buttons you see at the bottom of the post! If you enjoyed this episode of our podcast, please leave an honest review for The Cashflow Ninja Podcast on iTunes. Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and I read each and every one of them. John Lee Dumas of EOfire.com made a video explaining how to leave a review you can watch here. Thank you for supporting our podcast and sharing it with friends and family! Live a Life of passion and purpose on your terms, M.C Laubscher