Recently, there was a video done by comedian John Oliver regarding the state of mobile homes and mobile home park investing. Just in case you missed it, here’s the video:
Video Link
After watching the video, there are a few observations I made as a real estate investor and author with over a decade of experience. Here they are:
The video was actually funny
While watching the video, I found myself laughing at so many parts. Oliver had a lot of good points to make there. Some which I’ve been talking about for years on this very blog and in my newsletter.
(Note: Be sure to sign up for my newsletter and grab my free book to get the latest news and updates including my insights and first hand experiences on this very topic. Thanks for reading!)
Unfortunately, not everyone shared the same opinion. There’s been some very disgruntled real estate investors voicing their opinions on the video in the BiggerPockets mobile home investing forum. Though, it’s nice to see others there chime in with different perspectives and insights.
There were some good points made
Ever heard the phrase, “The proof lies in the pudding?”
Well, some of the statements made were backed up with actual articles and video footage. One of the things I’ve been talking for years on this blog has been about being careful when it comes to listening to real estate gurus talk about mobile home park investing.
Sure, it can work. And there are a lot of good books and courses out there on the subject. But there are always details left out when it comes to some real estate investing gurus teaching what they know (AKA what has worked for them but may not necessarily work for YOU) who may be greedy when it comes to money.
(Note: I’m not saying all real estate investing gurus are bad. Unfortunately, there are a lot more unethical ones than ethical ones out there. Buyer beware!)
Issues Facing Mobile Home Park Investor Gurus
To give you an idea of what exactly is going on in the mobile home park investing community, here are a few videos of the issues these investors face regarding their parks and their teachings:
RV Horizons Residents Protest at MHU
Video Link
Protestors at Mobile Home University Bootcamp
Video Link
Capitol Pressroom Podcast with Journalist Susan Arbetter: Affordable Housing Issues
Podcast Link
TIME Article
Affordable Housing Is Disappearing. These Mobile Home Residents Are Fighting to Protect Theirs
Not All Mobile Home Park Investors Are Evil
Unfortunately, this type of publicity have painted all mobile home park investors to be the same: bad seeds. But that is not necessarily true.
Some mobile home park investors are actually good. They want to treat their residents fairly. And run an ethical and profitable business at the same time. Yes, it can be done.
Though sometimes, human nature gets in the way. Some investors get too greedy. As Lonnie Scruggs (the Godfather of mobile home investing) used to say, “Pigs get fed, hogs get slaughtered!”
And this is what is happening to the state of mobile home park investing today. A lot of what I’ve said in the past is coming full circle.
Honestly, mobile home park investing can be done. If done right.
Unfortunately, the reality is that issues come up. Most real estate investors (especially new ones) without a mobile home investing background simply do not have the experience or the foresight to handle these problems as explained here.
So they get sold on a dream. But sometimes end up living a nightmare.
The Rebuttal
Here a few rebuttals on the video from the other side:
Frank Rolfe Response on BiggerPockets Forum
MH Living News: HBO’s John Oliver on Last Week Tonight Mobile Homes Video, Manufactured Home Communities Fact Check
The Verdict
As you can see, there’s a lot of turmoil going on in the mobile home park investing community. As mentioned, it’s been a topic of discussion among real estate investors. There’s even a reddit discussion thread on the subject.
But does mobile home park investing work as a long-term strategy? It can. And has for some real estate investors.
Though, you have to wonder why so many mobile home park investing gurus and investors end up reselling their parks to other investors. Do they know something that we don’t?
(Note: One investor I knew whose family was in the mobile home park business for over 25 years eventually got out and sold all his parks. He told me mobile home parks were way too management intensive and overhyped. He ended up going into commercial real estate. Very interesting!)
I’ll leave you with a thought with a video clip from the movie The Wolf of Wall Street:
What did you think of the John Oliver HBO video? I’d love to hear your thoughts. Let me know!
Happy Investing!
(Disclosure: Some posts may contain affiliate links.)
News: State of Mobile Home Park Investing (John Oliver HBO Video)
Recently, there was a video done by comedian John Oliver regarding the state of mobile homes and mobile home park investing. Just in case you missed it, here’s the video:
Video Link
After watching the video, there are a few observations I made as a real estate investor and author with over a decade of experience. Here they are:
The video was actually funny
While watching the video, I found myself laughing at so many parts. Oliver had a lot of good points to make there. Some which I’ve been talking about for years on this very blog and in my newsletter.
(Note: Be sure to sign up for my newsletter and grab my free book to get the latest news and updates including my insights and first hand experiences on this very topic. Thanks for reading!)
Unfortunately, not everyone shared the same opinion. There’s been some very disgruntled real estate investors voicing their opinions on the video in the BiggerPockets mobile home investing forum. Though, it’s nice to see others there chime in with different perspectives and insights.
There were some good points made
Ever heard the phrase, “The proof lies in the pudding?”
Well, some of the statements made were backed up with actual articles and video footage. One of the things I’ve been talking for years on this blog has been about being careful when it comes to listening to real estate gurus talk about mobile home park investing.
Sure, it can work. And there are a lot of good books and courses out there on the subject. But there are always details left out when it comes to some real estate investing gurus teaching what they know (AKA what has worked for them but may not necessarily work for YOU) who may be greedy when it comes to money.
(Note: I’m not saying all real estate investing gurus are bad. Unfortunately, there are a lot more unethical ones than ethical ones out there. Buyer beware!)
Issues Facing Mobile Home Park Investor Gurus
To give you an idea of what exactly is going on in the mobile home park investing community, here are a few videos of the issues these investors face regarding their parks and their teachings:
RV Horizons Residents Protest at MHU
Video Link
Protestors at Mobile Home University Bootcamp
Video Link
Capitol Pressroom Podcast with Journalist Susan Arbetter: Affordable Housing Issues
Podcast Link
TIME Article
Affordable Housing Is Disappearing. These Mobile Home Residents Are Fighting to Protect Theirs
Not All Mobile Home Park Investors Are Evil
Unfortunately, this type of publicity have painted all mobile home park investors to be the same: bad seeds. But that is not necessarily true.
Some mobile home park investors are actually good. They want to treat their residents fairly. And run an ethical and profitable business at the same time. Yes, it can be done.
Though sometimes, human nature gets in the way. Some investors get too greedy. As Lonnie Scruggs (the Godfather of mobile home investing) used to say, “Pigs get fed, hogs get slaughtered!”
And this is what is happening to the state of mobile home park investing today. A lot of what I’ve said in the past is coming full circle.
Honestly, mobile home park investing can be done. If done right.
Unfortunately, the reality is that issues come up. Most real estate investors (especially new ones) without a mobile home investing background simply do not have the experience or the foresight to handle these problems as explained here.
So they get sold on a dream. But sometimes end up living a nightmare.
The Rebuttal
Here a few rebuttals on the video from the other side:
Frank Rolfe Response on BiggerPockets Forum
MH Living News: HBO’s John Oliver on Last Week Tonight Mobile Homes Video, Manufactured Home Communities Fact Check
The Verdict
As you can see, there’s a lot of turmoil going on in the mobile home park investing community. As mentioned, it’s been a topic of discussion among real estate investors. There’s even a reddit discussion thread on the subject.
But does mobile home park investing work as a long-term strategy? It can. And has for some real estate investors.
Though, you have to wonder why so many mobile home park investing gurus and investors end up reselling their parks to other investors. Do they know something that we don’t?
(Note: One investor I knew whose family was in the mobile home park business for over 25 years eventually got out and sold all his parks. He told me mobile home parks were way too management intensive and overhyped. He ended up going into commercial real estate. Very interesting!)
I’ll leave you with a thought with a video clip from the movie The Wolf of Wall Street:
What did you think of the John Oliver HBO video? I’d love to hear your thoughts. Let me know!
Happy Investing!
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Tags: controversy mobile home park investing, hbo mobile home commentary, hbo video, how to invest in mobile homes, john oliver, john oliver mobile homes, mobile home investing, mobile home investors, mobile home park investing, mobile home park investors, mobile homes