Self Storage and Mobile Home Park Investing With Mike Peters & Martin Mei
In this conversation, Mike Peters interviews Martin Mei, a real estate investor specializing in self-storage facilities and manufactured mobile home parks. They discuss Martin's background in real estate investing, his experience with wholesaling, and his transition to focusing on self-storage and mobile home parks. They also touch on the importance of conducting feasibility studies for self-storage development and the potential for exit strategies in the industry. Martin highlights the affordability and quality of living in mobile home parks as a key factor in their attractiveness as an investment. Mobile home parks and self-storage facilities are attractive investment opportunities due to their potential to provide affordable housing and their recession-resistant nature. Mobile home parks offer affordable housing options for homeowners, and the cost of homes is expected to decrease. Self-storage facilities are in high demand during both good and bad economic times. The occupancy rate for self-storage facilities is typically around 85% to 92%. The market for self-storage is market-based and varies depending on consumer behaviour and population density. Mobile home parks are a scarce asset type, and cities are unlikely to approve new parks due to low property tax revenue. Mismanaged mobile home parks present opportunities for investors to acquire and upgrade properties. The self-storage industry is seeing a new trend with the emergence of pod storage, but it does not have the same economy of scale as traditional self-storage facilities. The self-storage industry is thriving during economic downturns as people seek to store their belongings. Martin Mei, an expert in mobile home parks and self-storage, is actively looking for investment opportunities and welcomes joint ventures and partnerships.
Takeaways
- (00:00) - Introduction and Background
- (03:01) - Wholesaling and Building a Buyer's List
- (08:14) - The Importance of Feasibility Studies for Self-Storage
- (12:07) - Investing in Mobile Home Parks
- (14:46) - Assisting with Self-Storage Development
- (20:57) - The Market for Mobile Home Parks
- (22:23) - Affordable Housing and Investment Opportunities
- (22:52) - Financing and Exit Strategies
- (24:20) - Advantages of Self-Storage Facilities
- (26:49) - Challenges in Developing New Mobile Home Parks
- (31:00) - Optimal Occupancy Rates for Self-Storage Facilities
- (35:48) - Market-Based Nature of the Self-Storage Industry
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Takeaways
- Self-storage facilities and manufactured mobile home parks are emerging trends in real estate investing.
- Wholesaling is a strategy that allows investors to find off-market deals and connect sellers with buyers.
- Feasibility studies are crucial for determining the viability of self-storage development.
- Self-storage facilities offer an attractive exit strategy, as they can be sold to larger companies.
- Mobile home parks provide affordable housing options and offer a higher cap rate compared to multifamily properties. Mobile home parks provide affordable housing options and are expected to become even more attractive as the cost of homes decreases.
- Self-storage facilities are recession-resistant and in high demand during both good and bad economic times.
- The occupancy rate for self-storage facilities is typically around 85% to 92%.
- The market for self-storage is market-based and varies depending on consumer behaviour and population density.
- Mobile home parks are a scarce asset type, and cities are unlikely to approve new parks due to low property tax revenue.
- Mismanaged mobile home parks present opportunities for investors to acquire and upgrade properties.
- Pod storage is a new trend in the self-storage industry, but it does not have the same economy of scale as traditional self-storage facilities.
- The self-storage industry thrives during economic downturns as people seek to store their belongings.
- Martin Mei is actively looking for investment opportunities in mobile home parks and self-storage and welcomes joint ventures and partnerships.
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