Most say that multifamily is the most ideal real estate investment you can have. But today, we will explore the world of mobile home communities with our guest, Peter Pratti.
Welcome back to the Real Estate Runway podcast! In today’s show, I welcome real estate investor, commercial broker, and my co-investor, Peter Pratti to walk us through the world of mobile homes and how it can compete with the multifamily business.
Peter started his career with single-family houses and transitioned to owning apartment buildings. In his transition to the mobile home community, he will share with us the ideal plans and tips for buying mobile homes.
With that, let’s jump right in!
Opening Segment [00:01 - 07:58]
Starting in the medical field and ending up in real estate
Investing in the mobile home communities
Getting rid of the noise through pen and paper
The Mobile Home Communities [07:59 - 19:02]
Peter talks about what he likes and doesn’t like about mobile homes
How to earn money through mobile home parks
Pros of tenant-owned homes in mobile home communities
The processes of dealing with non-payment
Tips on Finding Good Deals [19:03 - 20:50]
Getting in front of people as best as you can
Lightning Round and Closing Segment [20:51 - 27:08]
The ability to juggle many things
Not buying more properties as Peter’s biggest failure
Baseball for the less fortunate kids
See links below to get in touch with Peter
“Jack of all trades and master of none is useless.” - Peter Pratti
“The key is not to be that great at anything, but to be someone that can get in front of people as best as you can.” - Peter Pratti
“What you’re trying to have is, you’re trying to hit the angle of the tenant taking pride in owning their own home and paying you almost the quasi land least, to have that home in your land.” - Peter Pratti
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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.