This is part 3 of my conversation with Emma Norman. He is a commercial mortgage broker with Eastern Union. She is part of the MHP Division. She specializes in financing mobile home parks and RV parks nationwide. She became obsessed with the asset class while managing mobile home parks for 3-4 years. She managed parks in Ohio and Michigan. She has experience in real estate as a single-family investor in a prior life. She was also a successful realtor in Washington State in her prior life. Emma became a commercial mortgage broker with the sole intention of investing in MHPs. Her intention is to accumulate MHPs at a rate of 2-3 a year and provide free housing to battered women.

In this episode, Emma Norman discusses the importance of quality products, close-knit communities, and the opportunity to buy an existing mobile home park. She discusses how mobile home parks and RV parks differ. She points out that mobile home parks are built for people to get to work, whereas RV parks are often located in popular tourist destinations.

[00:01 - 05:13] The Growing Opportunity In RV parks

• Emma discusses how you can buy a home for less than what it would cost to live in it

• There is growing trend of giving residents the opportunity to buy their community

[05:14 - 12:54] The Differences Between RV parks and Mobile Home Communities

• Emma discusses how mobile home communities and RV parks are different in terms of their lending structure and tenant base
• RV parks are more likely to be in locations that draw tourists, mobile home communities are built for people who need to get to work
• An RV park can include a clubhouse, arcade, shower house, laundry, pool, and water park
• The market for RV parks is growing, and there are currently over 2,000 RV parks in the United States
• RV parks are covered by fair housing laws with some exceptions

[12:55 - 20:36] Closing Segment

• To learn more about Emma, listeners can visit her at Clubhouse!

Tweetable Quotes:

“If you're capable, the market will support it.” – Emma Norman

“The thought process that just because you live in a mobile home park means you're not very smart or you don't have any money is completely untrue.” – Emma Norman

Connect with Emma through her at Clubhouse and LinkedIn!

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