The Chris Voss Show - The Chris Voss Show Podcast – Investing in Mobile Home Parks for Affordability and Community-Building

Starting point is 00:00:00 You wanted the best. You've got the best podcast. The hottest podcast in the world. The Chris Voss Show. The preeminent podcast with guests so smart you may experience serious brain bleed. The CEOs, authors, thought leaders, visionaries, and motivators. Get ready. Get ready. Strap yourself in. Keep your hands, arms, and legs inside the vehicle at all times because you're about to go on a monster education roller coaster with your brain. Now, here's your host, Chris Voss. Hi, folks. This is Voss here from thechrisvossshow.com.

Starting point is 00:00:42 There you go, ladies and gentlemen. She does that so well. When the Iron Lady sings it, it makes it official. Welcome to the Big Show, my family and friends. We certainly appreciate you guys being here. As always, thank you for always being with The Chris Voss Show. For 15 years, you've been putting up with our noise and nonsense and subscribing to the show. We just recently pulled our numbers four years ago when we changed the format of the show.

Starting point is 00:01:01 We opened the format of the show to the scope of all the CEOs, billionaires, multi-book authors, Pulitzer Prize winners, White House advisors, you know, just the open up the scope from just normal sort of Silicon Valley stuff. We've increased the audience base on the show 1,405% in four years. Not 100%, not 200%, 1,405%. So thank you all for being a part of the show. Refer to the show to your family, friends, and relatives. Go to goodreads.com, Fortress, Chris Foss,

Starting point is 00:01:29 LinkedIn.com, Fortress, Chris Foss. Subscribe to the big LinkedIn newsletter, the big 130,000 LinkedIn group. We're there in all the crazy places we are in the interwebs. Today, we're going to be talking about an amazing gentleman and some investors that are doing some really cool things. They have their own reality TV show that they're running as well. So we'll get into it. We're going to be talking today with Frank Rizzo.

Starting point is 00:01:50 He's the co-founder of Stone Capital Investors. He's got over 20 years in real estate as a broker, owner, and syndicator. And for the past 12 years, he's been active in the MHP space. Well, I find that as mobile home space. And during that time, he's acquired and repositioned over 20 communities and 1,567 lots. Starting his entrepreneurial journey in high school, he obtained his real estate license at 19. Wow. And went on to earn his Series 7, 24, 63 licenses by 23. He later opened his real estate brokerage, Cornerstone Realty, at age 28, with a focus on alternative investment opportunities in the real estate market.

Starting point is 00:02:32 He trained industry-recognized, Frank trained industry-recognized top-producing sales agents and developed a track record for sourcing, repositioning, and marketing real estate assets. He's been elected to serve his local real estate board as director and later served as president of the Staten Island Board of Realtors. Welcome to the show, Frank. How are you? Chris, thank you very much for that introduction. It's an honor to be here.

Starting point is 00:02:55 It's an honor to have you as well. Thanks for coming by. And it's going to be interesting to hear your stories and maybe we'll have some people that will be like, hey, I want to make some investments in this business. So Frank, give us your dot coms. Where do you want people to find you on the interwebs? So, you can check us out at the MHPExchange.com.

Starting point is 00:03:12 That is a new platform that we've put out for anybody interested in the mobile home park space. If they're interested in finding opportunity, news, education, or entertainment, the MHPExchange.com. Or you can find us at stonecapinv.com. Either one, you'll be able to find out and reach out to me. There you go. So a lot of things have been happening in the marketplace with homes. Home affordability is a big deal, especially for Gen Z. You know, we were talking about this before the show.

Starting point is 00:03:41 I think a lot of people know the stories, you know, there's a shortage of homes in America and a shortage of affordability homes for new families to be able to get into homes. And so where are you guys at? Give us like a 30,000 overview of what you guys do and or what you're trying to do in helping the market. So Chris, right now we have a huge affordability issue in this country, and that is the crux of what we do and why we're in this space. franchise level homes for people looking to become a homeowner, get part of that American dreams in communities, which they know are well-run, well-kept, safe, and secure so they can grow their family and their legacy there. So that's been our focus and our drive since we've gotten to this business about 12 years ago. And we look forward to, our motto is that when we walk in, we want to make our communities better. And we believe by us leading first, improving those communities on the ground, it just makes for a better experience for our consumers and better for our stakeholders all around. There you go.

Starting point is 00:04:55 So why did you target? You've been in real estate for all these different ways. Why did you personally start focusing your investment firm and MHP exchange, of course, why did you focus on mobile homes instead of single family residence, you know, multifamily, et cetera, et cetera? That's a great question. And growing up in Brooklyn, New York, I will tell you, there wasn't a lot of mobile home parks for me to take a good advantage of. I mean, we had zero experience from that. I had been very active in local development, especially in Staten Island on the waterfront, trying to get the downtown area redeveloped.

Starting point is 00:05:32 And what I found is operating in New York City, a lot of times it's like pushing a boulder up a hill, right? There's so many different agencies that you have to deal with to get anything done. I'll give you a perfect example. We were working in the Stapleton area and there was a train station and the city was going to do a multi, multi-million dollar redevelopment there. And there was a light that was busted outside the train. And this is an area that was a high crime area. First thing we said from our local civic association was let's try to get the light fixed.

Starting point is 00:06:07 And in speaking with the local political leaders are in that area. Well, you know, you have to go talk to DOT. And if you want to clean up the train station, you have to talk to MTA. And, you know,

Starting point is 00:06:18 I don't know if anybody knew this, but I have a job, right. And my job, you know, waiting on, you know, waiting,

Starting point is 00:06:23 calling up agencies, got exposed to this space. What we realized is that when we wanted to make improvements, we could make those improvements. You know, we've purchased communities that were maybe overrun with crime or overrun with, you know, situations that it challenged and the improvements we wanted to make, whether it was putting in lighting or cleaning up, was met with open arms in a lot of these communities. So once we got exposed to that and realized that you could really, you know, handle community development from the ground up, we made the business fun again and we were really

Starting point is 00:07:00 hooked to be part of it. There you go. So I imagine this started, I guess we'll do like a chronological sort of development as you've rolled this out. I guess it started out with you forming Stone Capital Investors and creating a fund for this. Do I have that right? No, actually it started by happenstance, Chris. I was helping a family who was relocating out of New York. They had some multifamily properties and they needed to get out. They had 100% occupancy, 45% credit loss. We turned their situation around. And as they were relocating to North Carolina, they wanted me to consult with them to find something to replace the income that they were going to be missing. And the thing that kept popping up as being the highest yielding assets were these

Starting point is 00:07:50 mobile home parks, which I knew nothing about. So when making my recommendation to them that, you know, the father who was a first generation, you know, American success story, he said that the only way he would do this is if I stayed in the deal with him and I ran the property for him. So I stayed in the deal. I ran the property. We had a tremendous success. And then when I spoke to my partner about what had transpired, he was crazy enough to go on a bond storming tour with me down South. And, you know, years later later here we are 22 communities later and and you know we're still going strong there you go so which which came first the the investor funds and stuff for this mhp exchange first thing was investor funds you know we started out syndicating deals and for

Starting point is 00:08:41 those of you who are not familiar with that, was that we would find an opportunity where we would group together accredited investors and they would participate with us where we would own and operate the deal. We had a business plan that we underwrote and we executed on the first park. And I will tell you the first park that we did, it was kind of like pulling teeth, getting people to be you the first park that we did, it was kind of like pulling teeth, getting people to be involved in a park that was 800 miles away from where they were used to investing. And I think sometimes they probably just did it just to shut me up. However, Chris, after they saw the reliability and predictability of what we said, they didn't want to let go. And that grew organically from those first seven people who trusted us and participated with us to nearly a hundred people

Starting point is 00:09:33 who have been on our platform and invested in some of our syndicated deals. And now we just launched a fund that's focused in the mobile home park space. And so people can go to your website. They can find out about what it would take if they're interested in investing in mobile homes and stuff like that. Do you guys, I know mobile home, there's probably different features to it, right?

Starting point is 00:09:56 There's manufactured homes, there's mobile homes. There's these new tiny homes that they have that are kind of crazy. What are you guys focused on there? Or is it the whole market that you're encompassing? tiny homes that they have that are kind of crazy. What are you guys focused on there? Or is it the whole market that you're encompassing? So we haven't really got into the tiny home park model space. We have a few.

Starting point is 00:10:15 It's kind of new. We've focused primarily in the manufactured home space. And mobile home, manufactured home, it's a name that gets kind of bandied about. But these homes aren't very mobile. I mean, once they get in and they get set on foundations and skirted and set to the ground, it takes quite a bit to move those homes. You need to be permitted. You need to make sure that you have a licensed mover, and it becomes costly for those homes to be moved. And that's one of the reasons why if you run a community well, your customers or your residents tend to stay there longer than in any other asset class. Wow.

Starting point is 00:10:54 So you end up having a very, in a well-run community, you end up having a resident base that will stay on average 17 and a half years. Yeah. I know there's a lot of retirement mobile home communities. My grandparents lived in one. It was really nice when I was young. Do you guys focus on a certain age group of retirement communities or just do everything?

Starting point is 00:11:16 Yeah, we haven't been age specific. We've kind of kept an all age community. We haven't delved into the 55 and older yet, but they do phenomenally well. Wow. Because of that affordability issue. Because you can get into one of these brand new homes from as low as $50,000 to $180,000. Where if you look at your traditional stick-built home right now, the new home is, on average, nationwide, about $550,000. So there's a huge difference in the price points between traditional built and manufactured.

Starting point is 00:11:55 There you go. And manufactured, I think, nowadays isn't much different than a normal home, for the most part, is it? I mean, it's usually maybe two or fours and stuff. Chris, we have had the opportunity to visit a few plants for different manufacturers that are out there. And by far and large, the advances that they've had in the industry and the space, when you walk into these homes, you completely forget that you're in a manufactured home. The finishes are different.

Starting point is 00:12:30 The upgrades there have really taken hold, and it's a much better product than people were used to maybe 30 or 40 years ago. Yeah. I mean, I remember going in my grandparents' home when I was a kid, and it was a nice mobile home. It was a nice double-edged. You could still kind of catch the clunkiness of it.

Starting point is 00:12:52 You're walking around. It feels like you're banging on aluminum and stuff. It was an aluminum thing. It was really nice, but you still kind of felt like there was a hollowness to it, the sound when you'd walk around. But, you know, it was cozy, and the park was really nice too. But I think, yeah, I think a lot of that's come a long way. Chris, it's come a huge way.

Starting point is 00:13:15 We've seen a resurgence of interest in the space, and I think some of that's been good. Some of that has been, you know, it's not coming out its challenges. But in doing so, I think the market has demanded a better product for the end user, right? So what people used to do in a low-grade manufactured home, you know, now certain things become standard, right? Better flooring materials. You know, you can get drywall on the interior of the home, and that makes the construction of it so much better than it was, you know, when you were at

Starting point is 00:13:51 your grandparent's house years ago. There you go. So, how did you develop this into the MHP Exchange, or did the reality show come first? I noticed you guys have a big YouTube channel you're running and doing the reality show and kind of teaching people how to do things. So for probably the first eight, nine years that my partner and I have been doing this, we did everything kind of quiet or organically behind the scenes. We didn't really put a lot into marketing and getting basically our platform out there. One of the things that we realized in the space that was a challenge was there's very little sources of information where you can call this data and get that. So if you're interested in the space, you really have to dig deep to find out the

Starting point is 00:14:40 information you wanted to find. So one of the things that we looked at from the MHP exchange model was it would be great if there was one platform where we can get constant news of the day. So we can hear what's happening in the MHP space, whether developments are happening, whether there's rent control legislation coming down in certain areas, whether there's deals that are closing. So there would be one source where we could find that information and also find opportunities or new listings, find out about educational aspects of it, maybe best practices that people should have, and hear from industry professionals. So being that it didn't exist, we created it.

Starting point is 00:15:23 There you go. And part of that was us coming out with our podcast, which is on the MHP Exchange. And the reality show that you're referencing was sharing what we do, which is really turning trailer parks around into communities. And we launched a YouTube channel called Trailer Park Turnaround. And we just put out our first episode and we have our next one coming out shortly. And we have a lot of great content. And I think people are going to be interested to see what really happens

Starting point is 00:15:52 and what the work that really has to be done to turn one of these communities around. There you go. And plus, these are fun to watch because you watch people go through, they fix stuff, they go through whatever sort of crisis they need to do in these turnarounds. People like it.

Starting point is 00:16:10 You know, it's kind of started taking me down the road there before the show. I was like going, hey, this is kind of cool. And seeing all the stuff that goes on. And I imagine it can bring education to maybe some of the stigmas. I mean, there are a lot of stigmas still for mobile home parks, manufacturing homes. There is still a great stigma regarding that and regarding that as an asset class and regarding that as just being involved in the space. I think that's starting to change because we've seen in the last three or four years, like a new breed of investor that's come in to the space because what they realized is

Starting point is 00:16:53 something that we realized in years ago, the numbers here can be great. One of the things that we believe that they has been missing though, is you have to have that on the ground experience and marry what looks great on paper to how do you operate efficiently and how do you maintain that community feel? Because the reason why those residents stayed so long is because they felt like they were part of a community. And one of the things that we think is important in any of the communities that we've purchased, we believe we've got to lead first. We can't go in there and say, we're going to raise rents, we're going to do this without adding value to the resident first and improving their lives. And if you will, I'll give you a perfect example. We bought a community in middle Georgia. We bought it from the bank. Property was in foreclosure. Bank didn't want to be bothered with it.

Starting point is 00:17:48 89 lot community. We paid $425,000 for it. So you'd say that's a great price. Now, mind you, when you get there, Chris, in the front of the park, there's a drug dealer with tattoos on half of his face on a bike selling to five. There's five trap houses and one prostitute in the back of the park, there's a drug dealer with tattoos on half of his face on a bike selling to five, you know, there's five trap houses and one prostitute in the back of the park. So nobody wants this place. Right.

Starting point is 00:18:12 And, and we know that we have 30 residents. We take it down to 13. We've got to get rid of like all the bad people because the bad people are outside and the good people are stuck in their house. Right. Yeah. people because the bad people are outside and the good people are stuck in their house. Right. So a year later and, and we put $250,000 initially, and just to clean up the roads, get rid of these people, improve the exterior of these homes. A year later, we draw, we go to that community and the bad people are out and there's an ice cream truck driving down the block with a bunch

Starting point is 00:18:45 of children chasing it. That's the type of impact. So yes, we did very well on that. We ended up holding onto that park for nearly five years and selling that park for $2.6 million and putting more money into it after putting some more money into it and bringing in new homes and getting occupancy up to 70 units but the impact that we had on people's lives right in in changing that and all of a sudden taking a place that was overrun with crime to a place that now was overrun with families who could use the playground who could go out and chase the ice cream truck that makes it all that's that's the additional why right that you do the things that you do there it all that's that's the additional why right that you do the things that you do there you go you see that single family resident communities where

Starting point is 00:19:29 they go through gentrification regentification gentrification where they kind of get run down over 20 30 years and then a new a new new owners come in and you know they fix everything up and you know it becomes like yuppieville so, it sounds like you guys have really struck a great opportunity there where a lot of these rundown places, it's time for resurgence. And I love your concept of building community because community is everything to people. And if you build community for them, on recently who wrote about the re-gentrification or gentrification of single-family residents in homes and neighborhoods, partially on a racial sort of issues in America. And one of the problems is a lot of people don't feel they have community in, you know, suburban neighborhoods, single-family residences. And I know that with, you know, like my grandparents' mobile home, you know, they had, it was all gated. They had really nice yards.

Starting point is 00:20:27 They had probably nice yards in my neighborhood. I lived in a house as a kid. And then they had a community center. And so we, you know, we were always swimming in the pool and, you know, hanging out. And I think we would do luncheons and stuff there. And so it was really fun to go there. I mean, we really enjoyed it. It was in Hemet california so

Starting point is 00:20:45 the sun was always out and and so yeah if you build community you know like you say people want to people want to stay there and enjoy it more and it can have more you know like there's no community center where i live in single-family residences i don't have a pool damn it what the hell what the hell am i doing here in vegas the previous community i had did have a pool, damn it. What the hell am I doing here? In Vegas, the previous community I had did have a community pool for the single-family residences, but that's kind of vague. But you hit the nail on the head because when people find value in where they're staying, they want to stay and they become the biggest sounding boards for new residents. So we know the community for us. The community has reached that point when our new residents are coming in from referrals of our current residents

Starting point is 00:21:34 because when they live in that community, their cousin needs a place to live or their friend needs a place to live. They want them to live in the same community that they live in because they're finding value and they're finding a sense of purpose of being there. And for us, that's a key component of what's going to make you or make a differentiation from you as the operator from somebody else. And we drive that home and we make sure our team knows that, that we want to create that sense of community and get that engagement from our residents. There you go.

Starting point is 00:22:08 There you go. So now with the MHP exchange on the website there, tell us about some of the things that are doing there. I see listings. I see educational stuff. I see news. Tell us what the big vision is for that. So one of the things that we have there, Chris, and I'm glad you mentioned it, and we're really proud of this because we are the first and the only MHP specific AI agent out there. It's essentially your own personal assistant for information in the MHP arena. So we've trained it on the latest learning models, right? So if you have a question

Starting point is 00:22:46 regarding mobile home parks, mobile home park investing, you can go there and get that information. We have a database of every mobile home park in the country. So there's over 40,000 mobile home parks that you can search, right? So if you sign up, you can search it. And we've added Street View from Google because when I would search for a park, one of the first things I would look at is I want to get the Street View. I want to see what it looks like. I want to see what the community looks like. I want to see what the surrounding area looks like.

Starting point is 00:23:20 So we've added Street View with, we call it Chat MHP, which is the only industry-specific or mobile home park industry-specific AI designed to answer your questions and to be your own personal assistant while you're trying to find your next mobile home park investment. Wow. There you go. So they can either do that on their own or they can work with you if they're credited. You only take your credit investors, right, in the fund? That's correct. There you go.

Starting point is 00:23:49 That's correct. And then is there, I don't know if there's a standard for credit. Is there a standard minimum value for credit or does it vary? So there are minimums requirements. So it's a million dollars liquid net worth absent of your personal residence. It is an annual income of over $250,000 a year for the past two years. If you're married, it's going to be more than that. So there's a requirement to make you an accredited investor that you have to make sure that you follow through on. There you go. And then they can invest with you if they don't want to deal with all the hassle of owning one and running one, or they can use your MHP exchange to

Starting point is 00:24:30 do their own work. And you guys have all the resources there, lots of education for buyers, for sellers, for owners, market trends that are going on. So you've got articles that I can educate, listings, different media that you guys are doing. I think it's great. I mean, hey, I could shop for me a mobile home right here. You even have, it looks like some of these are RV parks. Well, RV, Chris, RV has become a very big component, and it's kind of gone hand in hand with the manufactured housing space. Matter of fact, there's a lot of hybrid mobile home and RV parks that we see across the country.

Starting point is 00:25:09 When we first got involved in the space, we kind of shied away from it because we felt there was like a different core competency. We started to get into that space. And listen, one thing that we found in the last 12 years, Americans like to RV. During the Great Recession, people bought RVs and they went RVing because it was a more cost-effective way to vacation. During COVID, people bought RVs because they didn't want to be on planes and they didn't want to be in hotels. And now you have over 10 million people who own RVs in this country, and that's a big market.

Starting point is 00:25:43 And going back to affordability, you have people who've realized it is more cost effective for me to live in an RV, a beautiful RV, and now I get to travel the country in my own truly mobile home and get to experience life in different spots. So we do have information that's out there in RV. We do want to touch on that subject as well because we think that that's a very viable option for people looking in the manufactured housing space. Yeah. There's a whole mess of these people that they're, what would you call them? They love to tour the country and videotape and they have like YouTube channels and stuff and they do the vagabond life.

Starting point is 00:26:20 And vagabond, I don't know if that's a good word or not. But they're enjoying their life and they're seeing the sites and a lot of young people are doing it you know they get like these vans and convertive and stuff for rvs and and they just tour about and because of you know the ability to work remote and work off the internet sell things off the internet you know they can they can kind of do it travel see the world see see the sights. Why are we locked in an office for all sakes? And quite frankly, not every vacation has to be Vegas or New York, right? But sometimes it's nice to see the rest of the country

Starting point is 00:26:55 and what the rest of the country has to offer and unplug a little bit. I live in Vegas. That hurts a little bit. Well, I live in New York. I need my roads paid for, damn it. So Vegas is a very important place to stay is all I'm saying, people. I need your free taxes that you afford me. But no, I mean, you know, one of the things we thought about right before COVID, you know, I was doing a lot of traveling and shows and events before COVID.

Starting point is 00:27:24 And at one point I was looking to buy one of those Mercedes cruisers. Yeah, Spinders. Because my dogs, it costs a fortune to put them in doggy daycare and board them for a week while I travel. And then they're not with me and it really sucks. And then I got to pay for hotels. And I'm like, you know, if I could take me a travel van or RV sort of thing with, and I could take them, and they could stay in like a doggy daycare during the day, and I could do my events, I could have my studio, I could have the podcast on a mobile thing,

Starting point is 00:27:55 and then I could, you know, I could sleep, they could sleep with me and hang out, you know, I'm supposed to sleep with my dogs, but I don't have my dogs when I travel, I don't sleep well, it's kind of funny, and then, you know, I could have the production studios, and I could take my time going to events. I wouldn't have to race to them. So, yeah, there's a whole beauty to it. Anyway, what have we covered for all the different things that you're doing that we want to touch out, tease on, or plug?

Starting point is 00:28:17 I think you touched on everything, Chris, which is, and I appreciate that. The MHP Exchange, if you're interested in the mobile home park space, that is a spot where if you, like I said, you could go there, you could try chat MHP. You can sit there, get a lot of that information that you might be interested in that space. And it has that ticker to give you the updated information from news from across the country to get updated on that. And then you can always, obviously you'll, you'll stay in tune to any podcast or, you know, you'll be able to see the next episode of trailer park turnaround, which, uh, you know, I appreciate the fact that you watched it and what was something we're really proud of to give people a real on the ground look of what it takes to turn one of these communities around. There you go. And, uh, affordability, I mean, Gen Z, they're really struggling to buy homes and find afford around. There you go. And affordability, I mean, Gen Z,

Starting point is 00:29:05 they're really struggling to buy homes and find affordability. It doesn't look like anything's going to change anytime soon with that. And they're downsizing their family size too. You know, a lot of them aren't getting married and having kids till later, if at all. And, you know, my problem I've always had all my life

Starting point is 00:29:22 being single and I can't afford the divorces and no kids. And I just never really got tired of being happy and just trying to find stuff to do with my money. It's really, it's a hard life when you don't have kids. Yeah. People don't realize it. And I don't have a wife who's down at Target every, you know, twice a day. And so if you do, well, then good for you. But I can't afford that.

Starting point is 00:29:43 I mean, I make way too much money to afford that and so for me i've always needed like i've always kind of wished for a tiny home because i never really because i'll get in home and and i'll you know i'm like what do i need four bedrooms for for me and two dogs and so it's it's always been just crazy and since they're siberians you know I need a yard. But for me, I mean, mobile homes or manufactured homes or tiny homes are probably just the way I'm going. Because the older I get, the more curmudgeon I get. So I don't think there's any hope for me at this point. So only giant homes and giant neighborhoods just don't really even work for my lifestyle and i think a

Starting point is 00:30:25 lot of the gen z years the the future gen alphas you know i think they're going to be dealing with the same sort of issues i've dealt with all my life we're like what do you need a giant home for like seriously plus it's sometimes a money pit for all the stuff you have to do with a giant home well well what this does in the manufactured house, it gets them, I still believe that owning is the pathway to financial freedom. So the reason why you do this is you want to start that pathway through it. And if you buy, if it's a manufactured home or a small, the idea is at some point, at least you're building equity. If you're paying rent, you're never seeing that money again, right? That money is you're always paying somebody's mortgage, right?

Starting point is 00:31:10 It's either yours or your landlord's, right? One way or the other. So what we do in our communities is we want to sell the homes to the resident, right? So they own the home. We don't want to own the home. There's third parties who could do financing. There's different ways that they can become a homeowner. But at the end of the day, if they want to leave, there's some value there. There's some get back there, right? They can get some money to take

Starting point is 00:31:39 their next stage of life because at the end of the day, you still want to own a home because it is the number one way to create wealth and pass wealth on to your next generation. So if you're starting a family, it might not be your be all end all, right? And I've seen this from working in real estate and dealing with buyers for the past 20 plus years, you have people who, you know, there's an instant gratification. I want what my parents have. Well, your parents took that step, right? They bought maybe one or two homes along the way

Starting point is 00:32:15 that you weren't involved with or you didn't see. And that's what helped them build that equity. So you've got to start somewhere. Manufacturing home is a great place to start to at least get you on that pathway to home ownership and and and eventually if you want to turn over just turn over as a rental you know there's i mean that's i remember when i got my first big house i bought this nice place up in the canyon and i remember looking at it going jesus i should have bought five starter homes.

Starting point is 00:32:48 And we lived in one and ran out the four others for the price I just paid for this. What an idiot I am. And it was just like me. I moved two girlfriends in over time. But not at the same time, folks. Calm down. But you could have moved them into two of the starter homes. Yeah.

Starting point is 00:33:00 And then it would have been easier to evict them. So there you go. One was a little harder than the other. The other one left voluntarily. But the other one almost had to be evicted. That must be an interesting story. Yeah, it was. It was one of the things you learn. That's why I live alone now. And with two big dogs. And two big dogs. And they never need to be evicted because they're such good tenants for the most part, even though it's their appearance. But I looked at it

Starting point is 00:33:24 and I'm like, geez, I could have bought for the price of this home. I could have bought five starter homes, you know, just basic, you know, starter startup homes. And I could have rent out four of them and I would have had my rent paid on my, you know, my main home and my rent paid on the other homes. And I was like, what did I just do? Like, I'm an idiot.

Starting point is 00:33:44 And so I think think i think this might be a target thing like i'm sitting here doing the calculations of my brain going i should probably go buy a couple mobile homes manufacturing homes and rent them out and then go live in one because i need you know a yard and then you know everything's paid for then i can kind of keep an eye on my neighbors too because they'll be right across from me or something that can be like what's going on not a bad idea not a bad idea chris not a bad idea uh maybe some investment thing because those gen z years man i know what they're up to man they're not they're not they're not i don't think they're i mean marriage isn't like a big thing anymore for them

Starting point is 00:34:17 having kids they're starting families later i mean it's going to be an interesting economic model that we're running into so So maybe there's some opportunities there. Yeah. I think that there would be some opportunities with that. There you go. I don't know that I want to put it with the gins of yours for renters, but I don't know. Renters are renters, right? So final thoughts, Frank, tell everyone whatever we want to pitch out, plug, how they can reach out to you, how they can learn more about you, work with you, et cetera, et cetera. If they want to reach out, they want to

Starting point is 00:34:48 learn more, you can go to themhpexchange.com, subscribe and you get in there. You'll be part of our newsletter. We'll keep you up to date and updated as to what is going on. You'll get information on all our next podcast drop, which is information piece, or our next reality show drop. And additionally, you'll also get information on the space. So go to the mhpexchange.com. Alternatively, you could reach us at stonecapinv.com as well. There you go.

Starting point is 00:35:22 I love it too that you guys are doing your own show for the reality show. I think more companies, I think this might become a trend. We were about for the show we had san pedro fish market folks on and they're like a 7500 year old family fish market with multiple locations in long beach what am i doing an ad here with multiple locations and they they started their own reality show because they want to control their brand and their narrative and i the Chris Voss show will start its own reality show. There'll be a reality podcast for the behind the scenes of the Chris Voss show. No one wants to see that.

Starting point is 00:35:52 Anyway, thank you very much for coming on the show. We really appreciate it. Thanks for having me, Chris. And thanks for tuning in. Go to Goodreads.com, 4Chess, Chris Voss, LinkedIn.com, 4Chess, Chris Voss, Chris Voss, one of the TikTok, the all crazy places around the internet. Thanks for tuning in.

Starting point is 00:36:07 Be good to each other. Stay safe, and we'll see you guys next time. Bye.

The Chris Voss Show - The Chris Voss Show Podcast – Investing in Mobile Home Parks for Affordability and Community-Building

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