Manage episode 228565469 series 1124002
In this episode of The Mobile Home Park Investing Podcast, Kevin Bupp hops on a call with real estate expert Matt Ricciardella, managing member of Crystal View Capital, a private investment firm with a focus on value add real estate.
Since its inception in 2014, the firm has raised almost $17 million of equity capital and has approximately $60 million in assets under management with a specialized focus on manufactured housing and self-storage asset classes.
Matt also goes into fine detail about recent successful projects and how his company manages all the different asset classes they handle from across the US.
"In my hunt for finding deals that would yield the best cash flow, I kinda came across mobile home parks and self-storage as the key assets that I wanted to focus on since those properties yielded the highest free cash flow out of all commercial real estate classes that I came across and underwrote."
"These opportunities are available to all of us. You've got to dig--especially now you've got to dig even harder--and then you've got to have the wherewithal to recognize that there is that untapped, hidden value."
"Once you've added value and you've maximized that value, it's time to look to exit."
"Through the years, we've been kicked down the street and that's the only way I think we've learned and we've learned from our mistakes and as a result we've implemented some of these strategies that has made us successful managers of mobile home communities."
"The best thing I can tell you is to take action. Go out there, make it happen, start looking at opportunities, get educated."
Discussed in this Episode:
- Cold calling and working with brokers
- Discussion on Matt’s deals and opportunities
- How to handle rent increase pushbacks and exiting deals
- Pros & Cons of park-owned homes and private utilities
- Management infrastructure of Crystal View Capital
- View Career Opportunities at Sunrise Capital by visiting Careers.SunriseCapitalInvestors.com
- Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
- Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
- Grab a free copy of our book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them Click Here to Grab a copy
- Get our Free MHP Due Diligence training Video DD.SunriseCapitalInvestors.com