Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we sit down with Cory Harelson, a structural engineer turned mobile home park investor, to discuss key lessons learned from buying, operating, and improving mobile home communities. Cory shares his journey from working long hours in engineering to discovering mobile home park investing and building a thriving portfolio.

Cory and Ferd discuss the challenges and successes of mobile home park acquisitions, including navigating zoning issues, scaling up with off-market deals, and managing private utilities. Cory dives into his most challenging deal—a wastewater treatment plant disaster—and how he overcame a $1 million setback. He also shares insights on sourcing off-market deals, utilizing virtual assistants for property management, and why ugly parks in great locations can be hidden gems for investors.

Whether you're a seasoned mobile home park owner or just getting started, this episode is packed with valuable insights on finding, financing, and optimizing mobile home parks. Tune in now to learn from Cory’s real-world experiences and discover how to scale your mobile home park investments successfully!

Highlights of the episode:

00:34 – Guest intro: Cory Harelson

01:50 – Leaving engineering to invest in mobile home parks

03:10 – Finding the first deal through Craigslist

05:12 – Scaling up with strategic acquisitions

08:45 – A costly mistake with private utilities

10:58 – How a wastewater treatment disaster nearly derailed a deal

15:30 – Lessons learned from financial setbacks

19:40 – Turning challenges into investment opportunities

22:55 – Sourcing deals: Off-market vs. brokered transactions

26:38 – Using virtual assistants to scale operations

31:15 – The infill process: New vs. used homes

36:50 – Market predictions for mobile home park investing

40:10 – Where to connect with Cory

Connecting with MHP Law:

Website: https://themobilehomelawyer.com/

Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069

LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/

Instagram: https://www.instagram.com/themhplawyer

Connecting with Guest:

Website: https://freedominvestinggroup.com/

Linkedin: https://www.linkedin.com/in/cory-harelson-81141414/

#MobileHomePark #RealEstateInvesting #PassiveIncome #ValueAddInvesting #MHPInvesting