Cashflow Quest
Jack Martin, Arizona based manufactured housing operator and capital raiser, joins the Cash Flow Quest crew for one of the most honest conversations we have had about where the market is headed. Jack is a student of history and his read is clear: we are 12 to 18 months from the end of this real estate cycle. We get into why discipline matters more right now than deal volume, what the GFC taught him about why mobile home parks never broke, the vendor and operations challenges nobody warns you about, and why the trickle down demand effect makes this asset class the most recession resilient housing play in America. 🔔 Subscribe so you never miss an episode of Cash Flow Quest! 0:00 - Cold open — turnover, the 1% niche and why parks beat apartments 0:33 - Welcome Jack Martin — Arizona operator and capital raiser 4:02 - Where is the market right now and how are you sizing deals 4:35 - Being a student of history — the real estate cycle book you need to read 5:22 - We are 12 to 18 months from the end of this cycle 6:11 - The bid ask gap and why quality deals will not pencil right now 7:46 - Stay disciplined — the best deals are sometimes the ones you walk away from 9:39 - Why operations matter more than ever in a tight market 11:04 - Multi channel home sales strategy — you have to go at it from every angle 12:22 - How Jack and Nate broke into the industry from scratch 16:50 - You cannot afford to trip on reputation — brokers, residents or investors 19:22 - First deal mistakes — the LLC operating agreement that sent all profits to LPs 22:14 - Five states of operations and the nuance nobody tells you about 23:20 - The southern Arizona park story — vendors, pivots and rent to own 27:59 - The Mesa 194 unit project — septic to sewer during Covid 31:14 - Do not burn your only plumber in a small town 33:37 - Manufactured housing is 1% of CRE and so is the vendor pool 41:05 - Why they left apartments — what the GFC taught them 43:35 - Zero mobile home parks of size went to foreclosure in the GFC 46:04 - Mobile homes and fire containment — why isolated risk matters 48:03 - The trickle down demand effect in recessions 50:50 - Covid rent collection — why parks collected while apartments did not 53:13 - Building a four star gated community from a 2.7 star tired park 58:49 - Final thoughts — stay patient, stay disciplined, the opportunity is coming Guest: Jack Martin https://52ten.com LinkedIn: https://www.linkedin.com/in/jack-martin-52ten?utm_source=share_via&utm_content=profile&utm_medium=member_ios Find Us: https://comfortcapital.com Instagram: https://www.instagram.com/cfq_podcast?igsh=YXRhdmhjcm5tMmJ2&utm_source=qr Tik Tok: https://www.tiktok.com/@cashflowquestpodcast?_r=1&_t=ZP-9330jK0GDF8 Hosts: Blake Comfort: - Instagram: https://www.instagram.com/blakewcomfort?igsh=NTc4MTIwNjQ2YQ%3D%3D&utm_source=qr Tik Tok: https://www.tiktok.com/@cashflowquestpodcast?_r=1&_t=ZP-9331Bjbg2d5 - Facebook: https://www.facebook.com/profile.php?id=61565057335048&mibextid=wwXIfr LinkedIn: https://www.linkedin.com/in/blakecomfortutm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app Jennifer Purcell - Instagram: https://www.instagram.com/jc_purcell?igsh=NTc4MTIwNjQ2YQ== LinkedIn: https://www.linkedin.com/in/jennifer-purcell-59a1bb77?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app
58 episodios
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