Mobile home park syndication presents opportunities for real estate investors. Similar to apartment syndications, the process for investors is the same. However, unlike apartments, the due diligence process and value-add opportunities vary greatly. Todd Sulzinger is the founder of Blue Elm Investments, a real estate syndication firm focusing on adding value to distressed mobile home parks across the country.

Prior to Blue Elm, Todd spent over 25 years as a finance executive for several Silicon Valley technology companies specializing in financial analysis, business modeling, and investor relations.

In this episode, Todd shares why he left corporate finance in Silicon Valley to focus on real estate investing, tips to start out in syndication, criteria for selecting markets, and what to look for when investing in mobile home parks.

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Key Insights

• From corporate finance to single-family rental investing and looking for opportunities to leave his W2 job
• Learning syndication and utilizing his current skill set to create a syndication business to help passive investors
• The first thing to do when starting in syndication: Networking
• During an analysis of asset classes, he started looking at mobile home investing
• It took talking with a property management group and a partner with experience in mobile home parks that got Todd moving forward in his syndication career
• The different analysis it takes to invest in a mobile home park deal vs. traditional real estate deal

The holy grail of a mobile home park deal is when all the utilities are provided by the city, but that's not always the case.

• The key things to look for when finding a good market for investing in mobile homes
• Why mobile homes get a bad rap!

In a lot of parts of the country, mobile home parks are just great affordable housing

• Understanding class-A mobile home parks (Florida and California)
• Resident owned vs. park owned and why Todd prefers park owned mobile home deals
• The market criteria to look for when analyzing a mobile home investment
• Why the median home price is important when looking for potential mobile home investment
• The demographics of an average mobile home renter

It's the blue-collar, retail, and service workers that fill our parks.

• How to navigate the low supply and high demand for affordable and mobile home housing
• Some tips from Todd's Book: Success Habits of Super Achievers

Those that stick to it, are more likely to overcome it.

The first 5 people to reach out to Todd will get a free signed copy of the book, Success Habits of Super Achievers: [email protected]

Bullseye Round:

Apparent Failure:

I gave too much power to my property managers. This taught me that even when you have an outside manager managing your properties, you still have to make the decisions and you shouldn't rely 100% on the PMs.

Digital Resource:

Forbes Real Estate Council

Most Recommended Book:

The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results (Henry Keller)

Eat That Frog!: 21 Great Ways to Stop Procrastinating and Get More Done in Less Time (Brian Tracy)

Daily Habit:

The 5 Minute Journal

Wish I Knew When I Was Starting Out:

That it's possible to make your dreams a reality.

Curious About:

See what happens in the affordable housing and mobile home park space.

Best Place to Grab a Bite in Redwood City, CA

Timber & Salt

Contact Todd:

Blue Elm Investments