A Behind-The-Scenes Look at Mobile Home Park investing with Ryan Narus

Guest Bio and Links:

Ryan Narus is a real estate entrepreneur focused on preserving affordable housing through manufactured home communities. With over 85 properties under his belt and a reputation for operational excellence, Ryan is redefining what it means to care for residents in an increasingly institutionalized market.

Connect with Ryan Narus on his LinkedIn @RyanNarus, and at his website

Notes:

• (0:00) Welcome to the CashFlow Quest Podcast!
• (0:10) Blake introduces guest, Ryan Narus to the show
• (3:45) “ It's really the simple, like you have a unit or you don't, there's someone in it or there's not, they pay you or they don't. You don't need to be a rocket scientist.
• (4:00) Ryan’s journey into manufactured housing industry
• (6:30) The Wells Fargo twist - a $105M loan story
• (8:30) Investing in community value
• (11:00) Challenges and opportunities in affordable housing
• (17:00) Tenant-owned vs. rental homes
• (18:30) Value of investing in the tenants
• (26:00) Cash-for-keys - creative exit strategies for tenants
• (29:00) Creative strategies for tenants duing challenging times
• (35:00) Preserving affordable housing
• (39:00) Zoning battles and legal maneuvering
• (44:30) Closing thoughts

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Blake Comfort, Co-founder of ComfortCommunities and Comfort Capital in 2008, embarked on a journey to acquire manufactured home communities, laying the foundation for the investment and management company we have today. In 2009, Comfort Communities acquired its first manufactured home community, and since then, the company has continued to expand, purchasing and managing numerous manufactured housing communities. Blake oversees all capital market functions, acquisitions, and deal sourcing forComfortCommunities and Comfort Capital. When he’s not working, Blake cherishes spending quality time with his wife and two young children and occasionally takes to the skies, flying around San Diego.

Jennifer Purcell, Co-founder of Comfort Communities and Comfort Capital, was raised in a real estate-loving household with her father being a general contractor and developer of over 4,000 units in San Diego County. Her mission is to change the perception of “Trailer Parks” and create exceptional living environments with top-notch service for residents. A San Diego State University graduate, Jennifer previously worked with R&V Management for their multi-family apartment portfolio at a leading global corporate housing company. Since 2009, she’s been instrumental in building Comfort Communities management team and fostering relationships with trusted investors and advisors, contributing to Comfort Capital’s success today. When she is not operating mobile home communities, she loves spending time outdoors, throwing the ball for her dog, and spending quality time with her husband and her two young children.