Why Smart Investors Are Buying Mobile Home Parks with Matthias Gruenwald

The Real Estate Investing Club

Join an active community of RE investors here: [https://linktr.ee/gabepetersen](https://linktr.ee/gabepetersen)  0:00 Welcome and introducing Matthias Gruenwald 2:00 Why mobile home parks create long-term wealth 5:00 The biggest advantages of tenant-owned homes 8:00 Finding off-market mobile home park deals 11:00 Value-add strategies that increase profits 14:00 Mobile home park operations and hidden costs 17:00 How AI is changing property management 20:00 Books, networking, and building relationships 23:00 The biggest investing lessons learned 27:00 Final advice for financial freedom and growth  WELCOME TO THE REAL ESTATE INVESTING CLUB! 🚀 In this episode, I sit down with Matthias Gruenwald of WCG Investments to break down one of my favorite real estate investing strategies: mobile home parks. If you've been searching for ways to build passive income, achieve financial freedom, and scale a real estate portfolio with recession-resistant assets, this conversation is packed with practical insights you can use today.  MOBILE HOME PARK INVESTING EXPLAINED 🏘️ Matthias shares how he transitioned from a successful corporate career into real estate investing after discovering that real estate has consistently been one of the greatest wealth-building tools available. We discuss his journey from buying a duplex to multifamily properties and eventually building a mobile home park investment business focused on creating long-term cash flow and generational wealth.  WHY MOBILE HOME PARKS ARE A POWERFUL ASSET 💰 One of the biggest topics we cover is why mobile home parks continue to attract experienced investors. We discuss the limited supply of new parks, strong demand for affordable housing, tenant-owned homes, low turnover rates, stable occupancy, and why these factors create predictable cash flow. We also talk about ethical rent growth and the importance of providing quality affordable housing while building a profitable investment business.  HOW TO FIND GREAT REAL ESTATE DEALS 🔑 Real estate investing is all about relationships, and Matthias explains how networking, broker connections, and off-market opportunities have helped his team secure incredible deals. We dive into creative financing strategies including seller financing, relationship marketing, and how multiple offer structures can help investors stand out in competitive markets. If you're trying to buy investment properties or commercial real estate, this section is packed with actionable ideas.  #RealEstateInvesting #MobileHomeParks #PassiveIncome #FinancialFreedom  Want to learn more about our guest? Connect here: [www.wcginvestments.com](http://www.wcginvestments.com)  Want to learn more about the REI Club Podcast, how to invest with Gabe at Kaizen, or join our community of active real estate investors on Skool? Visit the podcast website at [https://www.therealestateinvestingclub.com](https://www.therealestateinvestingclub.com) or click here: [https://linktr.ee/gabepetersen]

Transcript

00:06all right we are back with another episode of the real estate investing club i hope you guys are

00:12having a great day great week wherever you are and whatever day it is for you as always on the

00:18podcast it is friday so we're bringing that good friday energy to you and man you guys we got you

00:24guys know my favorite topic in real estate is mobile home parks and we got matthias grunwald

00:29with us on the show to talk exactly about that he's from wcg investments they do mobile home parks

00:35and so it should be a good conversation for all you guys out there who are into the mhp world

00:41as i

00:41am matthias i'm excited to jump into this thanks for hopping on thanks for having me gabe appreciate

00:46it absolutely i told you before we got on here we always like to start with stories we like to

00:52hear

00:52how people got to where they are so why don't you take us back to the beginning of your story

00:56in real

00:56estate and just tell us how you got here yeah absolutely so i kind of started with the covet

01:01time frame when kind of the the world slowed down right back in 2020 uh things shut down left and

01:07right i was still my w2 and i think i was probably among a lot of people where we just

01:11were asking

01:12ourselves okay where does this world heading to and this is really what i want to do for the rest

01:16of my

01:16life um i've been a chief operating officer for an automotive company um a global company

01:22based out of germany is where i was born and raised and back in 2012 i moved uh to the

01:26united

01:26states for that company but in 2020 i was i felt like i was in a dead-end position uh

01:31at the chief

01:32operating officer uh level i was like man i'm building my boss's balance sheet very crazy but not

01:38really mine if that makes sense i want to i want to see what the rich do and i literally

01:41put in google

01:42how the rich get rich how the wealthy get wealthy and you know real estate came up every single time

01:46on every list in the top three uh as a number one wealth creator so i was like let's get

01:51in this

01:51real estate game and i started reading books um and uh yeah i think i read like over 70 books

01:57in the

01:57first year just like getting prepared and uh try to understand the tax uh tax laws and everything how

02:02to get started picking an asset class etc uh at that time um i got my first uh duplex on

02:08a contract in

02:092021 uh because i always liked multifamily but didn't have the funds to go like big right away so i

02:14did

02:14like a duplex uh you know the smallest multi-unit you can buy um so we bought that one we

02:20still have

02:20it today uh and then i had that one for like a year or two and then um my you

02:25know i expanded to

02:27like a full plex in 2023 uh in that point i wanted to go commercial right after um bought then

02:32a um

02:3326 unit apartment complex 27 unit of v park and in that v park deal i met my partner tim

02:40woodbridge

02:40uh who founded wcg invested with me and he showed me the dark sides of mobile home parks and uh

02:45the

02:46good things about mobile home parks and i was interested before but i never really understood

02:49why people like him so much as an investment but oh boy once he told me about the benefits man

02:54i was

02:54hooked and i always joke him today like thanks for showing me the dark side i'm glad i arrived so

02:59the rest is history yeah nice man nice um well yeah i mean it's it's awesome so you haven't had

03:05a

03:06a super long uh career in real estate but you're already having great success i love to see that

03:10um and you jumped into mobile home parks pretty quickly after you got uh sounds like that four

03:16plex and then you jumped right into mobile home um so you know everybody on the show they already

03:20know i love the asset and i'm i'm all you know gung-ho buying as much as i can um

03:26but i always like to

03:27hear why other people like it because you know we all have our own stories and uh so why don't

03:32you

03:32tell us what about mobile home parks specifically when people think about them they you know people

03:37in general society think about mobile home parks usually they don't have a very positive idea about

03:42what it is and so they don't really feel like it's a good investment why did you come to the

03:47conclusion that it was such a good investment to put in your portfolio yeah i love the uh supply and

03:52demand factor of mobile home parks i don't really make them uh anymore i mean of course you can develop

03:57them but it's uh you know it's usually you have a lot of red tape you go through to actually

04:01develop one uh so supply and demand is in your favor secondly uh if you own um mobile home parks

04:07with a lot of tenant owned homes where the tenants actually own their own home you have a very very

04:11sticky tenant base um they usually don't move and if they if they do you have a very low very

04:17low

04:17turnover rate uh with tenant home parks so i really that's my favorite really uh factor of mobile home

04:23parks and we have tenants in our parks that lived there since 1994 you know like 32 years because they

04:28just bought their home back then and just paying a lot rent and they're happy there um also gives

04:33an advantage if you need to increase you know uh rents people aren't really moving their homes out

04:37right away because i mean moving a home can be 10 15 000 plus depending uh on what location you're

04:43at

04:43and where you want to move it to uh so if you increase your rents by 25 or 50 of

04:48course people

04:48are going to stay put because that's cheaper than moving their home obviously um you have to do it

04:53ethically because you don't want to take advantage of that because we are cautious of it as well

04:57even if you're buying a park that's heavy on the market rents we stair stepping up to market rents

05:02and don't just go like uh full full ball on like day one to market rents so we don't want

05:06to crush

05:07a tenant base we want to be very fair about it but that makes them very sticky so they stay

05:11they stay

05:11around for a long long time they have part of part of um part of ownership of their home which

05:16is

05:16which is huge because they're taking care of the place which is awesome don't really have that in

05:20apartments from my experience um and they're really treating the treating the place well and also the

05:25yards well and stuff like that so um it makes it a very stable almost boring asset to own and

05:30i love

05:31that um i don't like to i don't like to have excitement in my investing life that makes sense

05:36i want to have excitement i go to vegas uh but if i want to invest i want to have

05:40as boring as possible

05:41and mobile home parks does that for me nice man i love it i mean you hit on all all

05:46the things that

05:47kind of brought me to it the supply demand and balance and then just the kind of economies of uh

05:53not economies of scale but um how it's inexpensive to live for the tenants that are renting from you

05:59but it is expensive to move and that really makes a um a scenario where you are if you once

06:04you get a

06:05unit filled it's going to be filled for quite a long time and not that people can't move they can

06:09always sell their mobile home which is all you know it's it's not like you're you're forcing them

06:14to live on your property they still have the option of selling it but that home is still going to

06:18be

06:18there which means somebody else is going to buy it and they're going to be renting from you

06:22continuously so from your perspective as the investor the the site is just continuously rented

06:27and you don't see that um vacancy that you see in apartment complexes uh because people move out

06:32move in from apartments all the time and you're going to have vacancy it's going to go up it's going

06:37to go down not the case of mobile homes so it sounds like i mean you hit everything right on

06:41the dot

06:41there um one question i have for you uh so you mentioned you guys are buying that's your main

06:48strategy um mobile home parks the difficult part you mentioned the supply demand imbalance is

06:53is there which is a good thing um the downside of that though is that there aren't a lot of

06:58there's

06:59you know new stuff isn't being made which means the um the supply of actual mobile home parks being sold

07:06is is pretty low and there can be a lot of competition for that that means that uh it's difficult

07:12it's

07:12getting more and more difficult to find deals which also means you need to really have a good plan

07:18so what is your what are you guys doing and what does your plan look like your business plan when

07:23you go out and you buy underwriting new mobile home parks yeah absolutely so we uh do a really good

07:30job with uh building relationships um with brokers with potential sellers or owners if you will

07:35mobile home parks so my partner tim is really a master of this with building the relationship with

07:40the brokers to even capture deals before they even go on market um and uh trying to get first

07:45dips on the deal um also leveraging any kind of relationship you know that we have already that

07:51know people that know people that have a mobile home park and we bought one really smoking deal

07:56uh two years ago where we bought it for 2.4 million and be actively refining this now less than

08:02two years

08:02ago for like 5.6 million so over doubled in value in less than actually a year and a half

08:07exactly um that

08:08was an off-market deal because somebody heard like oh you guys buy mobile home parks i know this guy

08:12he owns this park down the road over here and he got he he's 80 years old he wants to

08:16retire and you

08:17guys want to have you know a shot at this we're like of course let's do it you know stuff

08:21like this

08:21goes a long way uh with brokers too we have we bought a lot of on-market deals as well

08:25but then

08:26never we never struck uh a deal like with the first offer was one of those where we follow up

08:32and

08:32follow up and follow up and then they go down half a million or six hundred thousand off the asking

08:37price and all of a sudden they have a deal or they're becoming creative they can do some seller

08:41financing because we always do three offers at a time right so we make an offer cash they have

08:46some seller carry and then full uh seller financing so every offer that we make no matter if it's off

08:51market on market it's technically three offers in one that goes a long way that makes people you

08:56know think about um or the seller think about what makes the most sense for them because they might

09:00have some tax implications with capital gains tax and stuff and i might actually be like hey you know

09:04what if you give me 10 grand a month you know and i'm gonna hold this note for you and

09:08just give me

09:09this much down we can have a deal that goes a long way and we put that in our offer

09:12very clearly like

09:13if you go with the seller finance offer you're actually gonna have like this much in total proceeds

09:18over the five years if you do this much at five percent interest only etc so we're very transparent

09:23there and uh very strategic how we make offers so we try to get into off markets uh off market

09:30leads a lot more as well we know a lot of people that are successful at it but we have

09:34a good

09:34success right now with even with on market deals just by leveraging our broker relationships and

09:39just be tenacious in our follow-up and structuring our offers really well that we can really strike

09:43a deal uh on multiple fronts yeah i especially for commercial stuff i don't feel like you should

09:50rely entirely on one strategy unless you're buying something like really really large multifamily like

09:56100 units plus um those ones they're all going to be done on market or at least through a broker

10:01but if you're looking at stuff you know sub five million dollars do them both talk go out there

10:06talk to brokers and do off market you're going to find really good deals on market off market just

10:11make sure and hit absolutely everything um in order to get that deal flow going um so for the deals

10:16that

10:17you are pursuing what uh what is your criteria like what is your plan in terms of value add are

10:23you

10:23guys just looking for stuff that is under market with rents are you guys doing infill what's your what's

10:28your kind of bread and butter yeah we do a little bit of everything uh what we got really strong

10:32at

10:33was uh buying parks with heavy park on homes and turn them over into you know with rental own

10:37contracts at least with an option to purchase contracts into tenant homes um so we do a heavy

10:42value add there but nothing crazy worth like super high vacancy so we love a deal where you have let's

10:50say maybe have a deal on the contract right now it's 280 lots it's pretty large five park portfolio

10:55and there's like uh 50 vacant lots there that's that's a good amount of vacant lots but it's not

11:00the majority of um you know of the park portfolio there um so we we can we go in and

11:07just say hey

11:07we're going to infill half of them and leave some meat in the bone if you case you want to

11:10sell for

11:10the next buyer so they can you know take it from there and do some value out on their side

11:15there's

11:15some vacant park on homes we can convert them over put some money in there there's some

11:19infrastructure upgrades that need to happen uh and stuff like that and they're on the market rents

11:24so of course you cannot really uh strike a deal in in in a way where you're always going to

11:29have

11:29all these factors but we love to have a deal where we have on the market rents because you have

11:33immediate upside obviously out of the gate that's that's the low hanging fruit but we love the

11:38conversion of park on homes a lot of people don't touch them because they can be a little bit noisy

11:43in the beginning and we experience that too where you take them over and uh you have a lot of

11:47bad

11:48tenants in place because the previous owner didn't really do a good job with their screening process

11:52etc but it's just you know part of the process you're underwriting for it and maybe underwrite a

11:56little more bad debts and some defaults of people and go for evictions and then you know maybe put a

12:01little bit of money in the homes or just sell them as handyman specials convert them over uh with

12:05rent-to-own contracts into uh tenant on homes um and that will you know become very quiet very quickly

12:12um as things stabilize and we mainly buy these parks in the southeast we like the very heavy

12:18landlord-friendly states uh in the southeast so our majority is in the carolinas uh that's where

12:24my partner is also based out of um we're also buying alabama georgia florida etc didn't buy anything

12:30in florida just yet i'm based out of tampa but we are we're making a lot of offers here but

12:34it's very

12:34competitive obviously but uh the majority is in the carolinas and georgia at the moment and

12:39we're expanding now into also alabama uh with the deal we have on our contract right now so

12:45um from a buy box perspective we don't really buy anything that has wastewater treatment plants no

12:49lagoons we don't shy away from septic uh not ideal but we do it uh especially in the south you're

12:54going to have a lot of septic uh i have to kind of get used to it uh otherwise you

12:58shrink your buy

12:58box really heavily um and yeah population we look at a population of 50 000 people plus if we have

13:05a

13:05lot of parkour homes because we need a good pool of people that would be willing to buy a

13:09handyman special um we go smaller population by a good bit if it's heavy tenant on homes

13:14because it's much more stable and people stay for a long time so we go to smaller towns as well

13:19if

13:19they have proximity to a larger you know let's say secondary market right so another huge city but

13:25at least some kind of population um you know the size or decent population size in the area

13:31uh we're actually we're in a contract on a park right now that does um has kind of a water

13:36treatment uh now i don't want to say facility but um like well facility thing on site it's the first

13:42time i've ever done it we need to do tests it's in pennsylvania and we need to do daily tests

13:48on this

13:48water treatment plant have you ever done anything like that we bought a portfolio where there's one

13:53park out of the portfolio was wastewater treatment but um that was in virginia the requirements are not

13:59that super strict you don't have to do daily testing but it's actually an aoss that's an

14:04alternative on-site septic system so it's kind of a wastewater treatment plant but it's also kind

14:09of like a hybrid between like you know septic and wastewater treatment but you do wastewater treatment

14:13right um it's a little bit pain in the neck um with that thing um from time to time but

14:18it overall

14:19it works pretty well um but it's heavy maintenance intensive like we had this record rain last year

14:25in this area apparently there was some kind of like um leak in in one of those tanks and the

14:31tanks

14:31were just like overflowing from uh from water from like uh the soil moisture and stuff like that so

14:36we had to pump these tanks out it was like four thousand dollars to pump these tanks out every

14:40single time we had to do like three times in a row within the month because there was so much

14:43rain in

14:44the area um because the area just got so flooded from the rain so and that's not that is one

14:49thing

14:49just to just to jump in there yeah that is one thing that a lot of people um you know

14:55i've talked to

14:56people who are interested in mobile home parks and they'll send them to me to help you know to get

15:00my eye on it

15:00yeah and they when it's septic they always say oh there there's no expenses related to septic for

15:05the past two years except for a couple pumps and so i'm not you know i'm not underwriting um

15:11expenses for for that specific thing but with the problem with septic tanks is there's not going to

15:16be an expense for a long time and then all of a sudden you're going to get up you know

15:20we just had

15:21to replace one and the codes changed so we had to it was like forty thousand dollars to replace this

15:25tank so you're going to get these massive bills um not necessarily forty thousand that was it it was

15:31because of the type of system we had to put in there it was a lot more expensive than general

15:35but

15:36you're going to get these big bills every once in a while um so you definitely need to be underwriting

15:41more than you think for septic tanks um and this is just kind of a psa for people out there

15:46looking

15:46at mobile home parks and septic tanks is if even if you don't see expenses on the pnl it's going

15:52to be

15:52there so you need to underwrite it um so one other question i got operations for mobile home parks i

15:58mean the reason one of the reasons we love it is it's it's pretty easy to manage but you do

16:02have to

16:02get a good manager so how do you guys do uh your your your management of your parks um yeah

16:08go through

16:09that system for us sure we have our own property management company uh which we call the back office

16:14so we have a leasing agent on the team a maintenance agent on the team we have a property management

16:19assistant elite that leads all the other agents so to speak um we're also deploying a lot more ai

16:24right now as well with ai bots for collections we used to have a person that did collections for us

16:29and calling people all day that person's still on the team but we put them into a different seat if

16:33you will an ai taking over the collections uh on that front and then that back office team is

16:39supporting the community managers dash regional managers because we have now building clusters in

16:45certain regions where we have like in one region we have eight mobile home parks so that one person

16:49acts as like a regional manager and there's a community manager um kind of helping them on site

16:54but the back office is managing rent manager our property management system um and really helping

17:00you know the on-site managers on all the you know the maintenance requests they're playing

17:04dispatch if you will like 911 they're calling in so hey we have this issue can you please go out

17:08there or to call the vendor directly or somebody calls the main phone number uh on the leasing

17:13site and they just want to put a application and they manage that in the back office and if that

17:17actually comes up clear you want to do a showing or getting lease assigned whatever the community

17:21manager jumps in and stuff like that so it's kind of like a multi-level management level um that's

17:27they'll be deploying and on top of all that we have an asset manager which really just overlooks the

17:32business plan um and to achieve the business plan because we're running syndications so we're raising

17:38capital from our investors obviously so we have certain thresholds that we have to meet to make

17:43the preferred return payments and stuff like that you have to make sure we stay on track with our

17:46business plan and the asset manager is the one that uh is kind of overarching um over all this

17:52management structure and just really manages the kpis and looks of where where we're lacking where we

17:57have to pull some pull some levers or push some buttons and you know improving the improving the

18:02property so to speak nice man the ai for collections that's um that's new tell me about that what what

18:09are you guys using how are you getting how does it work for you and is it has it screwed

18:14up i i i love

18:15ai i've used it a ton but i'm very reticent to add it into certain workflows because i'm just uh

18:22i'm not entirely sold that it's there yet tell me how you know how is your experience gone

18:28yeah good it hasn't messed up yet but we just launched it so it might still mess up but uh

18:33i

18:33see the daily reports on the ai and i see also the communication it has and i don't think that

18:39the

18:39majority of people realize they're talking to ai because they keep arguing with the ai for hours and

18:43on end it seems like every day so i think it's very effective um but on the collection side it

18:49gives

18:49you like a collections report every day um not every day but every day and real quick collections calls

18:54so what so it is it's outbound calls you're doing like vappy or something and it's doing outbound

19:00calls yeah it's connected to rent manager so it sees whoever has a balance whatever fresher with

19:04the finding a balance over this amount or is uh delinquent over 30 days it starts on a 30 days

19:10actually as soon i get the late fee charge after the sixth day they're gonna make the first call

19:14um and remind them they're behind and it's very timid it's like it's just a reminder and then

19:20it actually becomes more firm um after like 15 days delinquent and it's starting to talk about

19:25hey if we don't get a payment you're gonna file eviction etc you're pretty soon you have until this

19:29day to make a payment and then if the person actually picks up the phone and talk to them

19:33and they make a payment promise it documents the payment promise in the daily report towards us so

19:38we then have actually human coming out um and make a phone call to that individual and maybe do a

19:43payment plan whatever the plan is talk about the details etc um or if it doesn't go well we have

19:48to

19:48file eviction right so uh but that daily report beginning every time it does collections calls

19:53uh which is almost daily because everybody's bounces all you know all over the place and

19:58and stuff like that um you get a really good report who's not answering who's disputing stuff

20:03who is cussing the bot out because they say i don't owe you anything but of course they owe a

20:07thousand

20:07dollars uh and you know how it works um it works pretty well i'm impressed by it uh because i

20:13can make

20:13a lot of high volume calls in a very short time frame much less than any human can do it

20:18and i don't think people actually realize it's ai and i actually have been testing it myself and

20:23talking to it i've been very rude on purpose to the ai and cussing it out because i know

20:27listen up you asshole i had some fun with it i cussed the thing out like really bad

20:31um and it was super professional i didn't go out of line and it was very professional and so i

20:36understand your frustration it was very sympathetic which was awesome actually to see because i know

20:41tenant is going to go off the chain uh on the call if you tell them like they owe money

20:45because

20:45surely you're not the only one calling about money um so so far it's a good man i can give

20:50you a post even beyond this podcast um so far the test is working really well yeah that's really

20:55interesting what is the system you guys are using how like is it vappy or what's your uh what's the

21:00system you're connecting what's doing outbound yeah it's called domos ai domos d-o-m-o-s

21:06yep uh it's working pretty well uh i met them at a conference at uh in louisville in kentucky

21:11with a mobile park a manufacturing housing conference um so yeah so far cool fantastic

21:17they do all then not only do phone calls they're actually leaving voicemails so they don't pick

21:21up so they call once the bot does the bot car calls once doesn't pick up calls again if they

21:26don't pick up they leave a voicemail and they also send an email uh texting is coming next but

21:30there's some regulatory stuff around yeah i was gonna say this is like all tcpa compliant and

21:35everything like okay yeah absolutely yeah very interesting i'm gonna have to check that one out

21:39yeah um all right we did get a little bit side side uh track there but it's all good because

21:44that's that's uh really useful and interesting to keep kind of track uh keep tabs on how ai is

21:50developing within the within the industry um but with that we have already run the clock down it is

21:5520 minutes so we need to push into the quick question round are you ready absolutely let's do it

21:59all right starts with education could be any form could be a book you've read movie you've seen

22:04conference you've been to anything like that i just need two recommendations one for general life

22:08wisdom and then one for real estate general life wisdom i love the book the power of one more by

22:13ed milet um i'm a big ed milet fan anyway and it just goes into the details of like if

22:19you think

22:19you're done do one more rep do one more thing you know do one more offer or whatever if you're

22:24in the

22:24in the gym just do one more rep yeah just one more we're compound it's more about a compounding

22:29thing than anything um this this this this give me a lot of wisdom like anytime i'm in the gym

22:34or go

22:35running or do something else like let's do one more thing the one more thing

22:38um i really love that book um on the conference side i love conferences and there's so many good

22:44ones out there if you're in the mobile home parks i mean mhi is always a good one uh to

22:48go to um

22:49that one in louisville kentucky in january is fantastic because it's free if you haven't

22:52if you own a mobile home park and networking i think is the name of the game in real estate

22:57and the more people you know and the more people that know you uh that stuff just compounds and deal

23:03making raising capital getting connected to another vendors to finding ai agent bots whatever

23:09companies out there and vendors like this is all about networking that it doesn't just doesn't fly

23:13to me i don't google that stuff it's often conferences networking so yeah i highly recommend

23:18networking at conferences nice love it all right next question is for your younger self let's go back

23:24to the matias who was still the coo at um that that car company that you had mentioned go back

23:30to him

23:31look him in the eye give him one piece of advice moving forward start now you don't have to read

23:3670

23:36books to get started just read one or two and get going don't mentally masturbate for a half a year

23:42and uh you know your episode 670 something and anytime somebody says this it's probably 90 of the

23:49guests that come on the show say some version of i wish i got started sooner so anytime they say

23:54that

23:54i always would like to push it back to you the listener if you haven't put your first deal under

23:59contract go out there and get it done get very baseline education get it you know enough to be

24:05dangerous but then just focus on action everybody who's here who's been on the show wishes they got

24:10started sooner all you need to do is get that first deal done could be anything could be a piece

24:16of

24:1810 and 10 years down the road you're going to be thankful you started today versus tomorrow which

24:23leads us to the next question and this is about the u.s it's a big place there is a

24:27lot of opportunity

24:28out there give me the single metro you're most excited about investing in today oh man that's a

24:34good question there's a lot of good markets out there um we don't have anything in uh in tampa yet

24:40and i live in tampa and i see a lot of opportunity here and i'm really excited about tampa had

24:45a lot of

24:46growth and it's receding a little bit which i think is a buying opportunity so i'm really excited

24:50about tampa as well especially me living here i have a little bit of a competitive advantage

24:54compared to others i try to invest here so that's the one i'm excited about because i feel like

24:58there's so much potential still left there's so much money coming in here um they're saying it's

25:02become the next miami i hope not because miami is too crazy for me but so helps tampa leave uh

25:08keeps

25:09his charm nice yeah and the guest directly uh um our last guest on the show said tampa as well

25:15so there's got to be something to it tampa's out there it's it's making moves yeah i love that

25:19all right next question is for your oh we already did that one um next question is about finding

25:26deals i think i know what you're going to say on this but i'm going to ask it anyways it

25:29all starts

25:30with getting in contact with the seller and pending that purchase agreement so what is your favorite way

25:34to find new deals uh just build the relationships man build the relationship with brokers um sellers

25:40anybody even if you have meet other operators like going to conferences dude we got deals pitched

25:46to us from other operators because they're like you know what i have to trim my portfolio down you

25:49want to buy those three parks in that region you can make deals among other operators when you go to

25:53these conferences that's big already we had dips on like getting um you know first dip on a portfolio

25:59of like 800 units from somebody because he wanted to you know uh concentrate his portfolio in one area i

26:05want to get the entire portfolio in this area sold he was like you guys want to buy it

26:08and honestly we were not in the position to buy it because there was like a 30 million dollar deal

26:12that was way too big for us at the time but this those things happen you know um just leverage

26:17relationships um not only brokers but many many avenues like casting a wide net the bigger the net

26:23is the more fish you can catch right kind of the same thing it's funny uh whenever i get a

26:28deal

26:28like i get a deal on a contract i always look back and i'm i just kind of laugh at

26:33how it came out

26:34of just somewhere random i always feel like it's random but it's always random and so if it's

26:38always random that means that something's working and that something is really just having

26:43conversations with people just um just keep putting yourself out there and you know deals

26:49will come just keep building the relationships it's it's funny how it works um and that leads

26:55us to the next question this is about lessons learned not every deal we get into goes the way

27:01we expect it in fact pretty much every time something goes wrong and that's when we get to learn

27:05lesson so what was the deal that went a little sideways for you and then what was the lesson

27:09you pulled from it oh yeah so our second syndication we did a um small portfolio in virginia which is

27:16a

27:16very small town and up it's it's about an hour and a half away from the next bigger city and

27:22oh boy

27:22that was uh that was making the business plan a lot more difficult because there was only 3 000 people

27:28living in that town everybody knows each other and then converting park-owned homes to tenant-owned homes

27:33is much slower in a small town there's a lot less people living there um and then don't have a

27:38big

27:38city around just like going to lowe's is a challenge because people have to drive for an hour uh to

27:42go to

27:43the next lowe's that was a i wouldn't say necessarily was a mistake because i feel like we learned from

27:47this to tighten our buy box up and this deal still pays like full preferred return to our investors

27:51uh but it's a bear to get there though we fight in that deal like every week because we have

27:57to push

27:57push and push and like there's there's issues that we never seen coming like we have a lot of tenant

28:02homes but then people pass away and then the hires don't have anything to do with it and then we

28:07have

28:07an abandoned tenant on home that happened several times and that's the challenge right there and then

28:11going through the process getting the title that's the time consuming in the meantime we collecting no

28:15rent uh that's very challenging so that's a big lesson that we learned but i feel like they made us

28:20much stronger operators going forward for the next deals yeah yeah and that is one thing to keep in

28:26mind every you know problems are always going to happen every single time there's always going to

28:31be something that happens that is a problem but when you're when you keep just pushing through those

28:36problems you learn each and every time and you know me today versus me two years ago even a year

28:42ago

28:42knows uh 10 times more than i did and that's because i've been able to solve problems and that is

28:47the

28:47name of the game it's just going out there solving problems learning and then using what you learned to

28:52apply to the next deal exactly all right and that leads us to the very last question this is for

28:59the

29:00listeners you've given us a lot to think about i'm sure people want to reach out get in contact with

29:04you

29:04this is a two-parter where can they find you and then what can they expect when they reach out

29:08oh yeah you can find me in all the major uh social media platforms i'm mostly active on linkedin

29:13um with my name matthias gruwald and also facebook instagram uh you name it you can also go on our

29:19website wcginvestments.com you can book like a discovery call that goes straight to me or my

29:24partner tim uh as well so it's kind of like a round robin kind of thing so you're gonna it's

29:28just if

29:29you're interested in investing or just reaching out in general to us to learn more about what we do

29:33with mobile home parks um and then yeah um also if you go on my socials there's like a three

29:37ebook and

29:38uh in my in my bio you can download it's completely free no strings attached we can learn

29:42more about why we love mobile home parks and why we love to buy them and buy all of them

29:47uh in the

29:48us so yeah happy to also help people get started with our first deal if you have any questions or

29:54maybe like mental mental blocks to have any barriers love to get them out of the way also no

29:58strings attached just love to help people um i think you're always most qualified to help the

30:03person that you used to be and i used to be that person too i didn't know how to get

30:06started and i

30:07would love to help people out if they're just right before that first deal and that's love the

30:11first deal is really a really a big thing getting that first deal done and then the floodgates open

30:16so love to get uh people that hump and feel free to reach out love to help perfect i'll put

30:22matias's

30:22links in the show notes so if you guys want to reach out all you got to do is click

30:26a little more

30:27in the description it'll pull down that full description and in there you can find his links

30:32all right man that wraps it up thank you very much for hopping on the show thanks gabe appreciate

30:37joe thanks for having me absolutely for everybody who's with us today thank you guys for showing up

30:42you are the reason we do this so if you guys have any questions reach out to me gabe at

30:46the real

30:46estate investing club.com if you guys want to support the show just leave us a review comment anything like

30:51that other than that i hope you guys have a great week keep rocking real estate and i look forward

30:56to

30:56seeing you on the next episode

30:58you

31:00you

31:01you

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