Investing in Mobile Home Parks for Affordability and Community-Building
Show Notes
About the Guest(s):
Frank Rizzo is the co-founder of Stone Capital Investors and has over 20 years of experience in real estate as a broker owner and syndicator. He has been active in the mobile home park (MHP) space for the past 12 years, acquiring and repositioning over 20 communities and 1,567 lots. Frank obtained his real estate license at the age of 19 and went on to earn his series 7, 24, and 63 licenses by the age of 23. He later opened his real estate brokerage, Cornerstone Realty, with a focus on alternative investment opportunities in the real estate market. Frank has been elected to serve as a local real estate board director and served as president of the Staten Island Board of Realtors.
Episode Summary:
Welcome to The Chris Voss Show, where Chris Voss interviews CEOs, authors, thought leaders, visionaries, and motivators. In this episode, Chris Voss speaks with Frank Rizzo, co-founder of Stone Capital Investors and an expert in the mobile home park (MHP) space. Frank shares his journey in real estate and explains why he decided to focus on mobile homes instead of single-family residences or multifamily properties. He discusses the affordability crisis in the housing market and how MHPs provide an entry point for people looking to become homeowners. Frank also introduces the MHP Exchange, a platform he created to provide information, news, and educational resources for those interested in the MHP space. The episode concludes with a discussion on the benefits of owning a manufactured home and the importance of building a sense of community within MHPs.
Key Takeaways:
Mobile home parks (MHPs) provide affordable housing options for people looking to become homeowners and enter the real estate market.
MHPs offer a sense of community and stability, with residents often staying in the same park for an average of 17.5 years.
Frank Rizzo and his team at Stone Capital Investors focus on acquiring and repositioning MHPs to improve the living conditions and overall experience for residents.
The MHP Exchange is a platform that provides news, educational resources, and listings for those interested in the MHP space.
The MHP Exchange features an AI agent called Chat MHP, which serves as a personal assistant to answer questions and provide information about mobile home parks.
Notable Quotes:
“We focus on the manufactured housing space, which is the most affordable of affordable housing stock, providing homes for people looking for entry-level homes and the American dream.” – Frank Rizzo
“When we walk into a community, we want to make it better. By improving the community, we create a better experience for our residents and stakeholders.” – Frank Rizzo
“Owning a home is the pathway to financial freedom. Manufactured homes are a great place to start building equity and creating wealth.” – Frank Rizzo
Podcast: Play in new window | Download (Duration: 36:12 — 24.9MB) | Embed
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