Interview with Jordan Savitsky of 50West Capital

SHOW NOTES

Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Jordan Savitsky from 50West Capital.

Jordan Savitsky is the principal of 50West Capital, who acquired their first mobile home park in Canton, OH, in mid-2023. Jordan and 50West Capital have several more mobile home parks in their acquisition pipeline. Based in New York, Jordan Savitsky holds a dual degree in Marketing and Supply Chain Management from the University of Maryland.

Join us on this episode as Jordan Savitsky dives into why he found the mobile home park asset class intriguing, the advantages of owning a storage business, and his approach to acquiring mobile home park investments.

***Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes. ***

Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.

Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews:  https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.

Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.

Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.

Talking Points:

00:21 – Welcome to the Passive Mobile Home Park Investing Podcast

01:25 – Stumbling into mobile home parks, and loving it because it’s not sexy

06:20 – Why your second mobile home park deal is the hardest

10:00 – Mobile Home Park Property Management and Utilities

12:50 – Getting educated in Mobile Home Park Investing

14:56 – Discovering that initial mobile home park opportunity, seizing on what’s intriguing

17:00 – Aim small, miss small

19:20 – Storage units and tenants

21:30 – Mobile Home Park Operators are important

25:20 – Perfect mobile home parks are different depending on the location

29:00 – Mobile Home Park Operators and Investors with poor intentions

32:45 – Getting in touch with Jordan Savitsky

33:24 – Conclusion

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Reach out to Jordan Savitsky at jordan@50westcapital.com

Find Jordan Savitsky on LinkedIn at https://www.linkedin.com/in/jordan-savitsky-64505b23/

Keel Team’s official website: https://www.keelteam.com/ 

Andrew Keel’s official website: https://www.andrewkeel.com/  

Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel 

Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

---

TRANSCRIPT

Welcome to the Passive Mobile Home Park Investing podcast. With your host, Andrew Keel. This is the podcast where you can get the education you need to invest 100% passively in a highly profitable niche of mobile home parks.

Andrew:  Welcome to the Passive Mobile Home Park Investing Podcast. This is your host, Andrew Keel. Today we have mobile Home park investor, Jordan Savitsky, Principal of 50West Capital on the show.

Before we dive in, I want to ask a real quick favor. Would you mind please taking an extra 30 seconds to head over to wherever you listen to your podcast and leave this podcast a review? This helps us get more listeners, and it means the absolute world to me. Thank you for making my day with that review of the show. All right, let’s dive in.

Jordan Savitsky is the principal of 50West Capital, and they acquired their first mobile home park in Canton, Ohio back in 2023. They already have a number of additional mobile home parks in their acquisition pipeline. Jordan, who is based in New York, holds a dual degree in marketing and supply chain management from the University of Maryland. Jordan, welcome to the show.

Jordan: Thank you. Pleasure to be here, Andrew.

Andrew: Yeah. Would you mind starting out by telling our listeners a little about your story and how in the world you got into investing in mobile home parks?

Jordan: Yeah, absolutely. I’m really a lifelong entrepreneur and operator. I have been in several businesses, most of which I still own and brought in outside management, so it continue to run. I’ve been a passive investor in real estate for probably six, seven years already. I’ve invested in quite a bit of multifamily, commercial, single family homes, student housing, developments, stuff that’s already built, value add projects, but always as an LP.

I’ve always been looking for the right opportunity to jump in as really the operator, the GP. I’m good at getting my hands dirty. I’ve always enjoyed the real estate space. I started looking in probably 2022 or so at different asset classes within real estate. Like I said, I had invested in a lot. I saw what the performance over many years of those different asset classes looked like, how Covid affected each one of them differently. They all had their problems, but totally different problems.

As I set out to look for something that I could really sink my teeth into myself, I stumbled upon mobile home parks I think by listening to a podcast. I started to really look at it, learn about it. I think initially, what I loved about it was that it’s not sexy It’s not the typical.

I’m from New York. Most people I know that invest in real estate or investing in huge projects and buildings in Manhattan, stuff like that. Mobile home parks would never really come onto their radar. I just liked that from the outset. The more I learned, the more I loved.

Andrew: That is so cool. I love how probably 90% of the operators that I’ve interviewed, they all just stumbled upon mobile home parks. It wasn’t like, hey, this is what I’m going to do, it’s a family business, my dad did this, my grandfather did this. No, they all stumbled into it. Most have had a lot of success. Tell us more about that contrarian mindset. It’s not sexy, it’s a dirty business, it’s affordable housing, it requires a lot of hands on attention. How does that correlate to some of the other businesses that you’ve scratched started?

Jordan: Sure. For example, my main business that I started as a emergency medical alert business. I fall in and I can’t get up. Everyone has seen those commercials, button old person, where if they fall and have an emergency, they press it, call the monitoring center. When I got into that business  which I did because my family historically been in various healthcare businesses, worked in private equity, and we acquired a company in that industry while I was working there, I started my own. Everyone said, why? That’s certainly not a sexy business.

Very hard to differentiate yourself. A button is a button. A monitoring center is a monitoring center. What’s special about yours? The answer was really, there are tens of millions of seniors in the US that need this product, and there’s a lot of space to sell it to them, even if I don’t have a differentiated product, so to speak. It just has to work, you have to have good service, and that’s it.

Everyone said, all right, it sounds weird, but sure. Here I am six, seven years later. We’ve built a very successful company with thousands and thousands of customers all over the US. I don’t necessarily need sexy, popular, or something that everyone’s looking at.

A lot of times you can find the hidden gems when people instinctively might go, ugh, I don’t want to invest in that, or nah. There’s too many people in that industry, you got nothing special. A lot of times when people write things off without even looking through the first page of the book, that’s where a lot of opportunity lies. I found the exact same thing in mobile home park investing.

Andrew: Totally agree. Yeah. My experience was the same. The very first investor or potential investor that I approached completely snarled the idea of investing in a trailer park with me. I tell that story and it was not sexy. It’s not something you want to talk about at the country club that you’re going to invest in a trailer park. But the returns can be good, and I think there’s a win-win where you’re going to improve the community for your residents.

Let’s go into this, Jordan. What has been your toughest hurdle in mobile home park investing thus far? I know you just bought your first park last year, but what has been your toughest hurdle with that acquisition?

Jordan: Certainly, just identifying the opportunity that was right. Everyone talks about analysis paralysis. I’ve heard it a million times on all kinds of educational stuff on real estate. To a degree, you need a little analysis paralysis. Especially when it’s your first deal, you’re going to go out, you’re going to raise money, and you’re going to talk to investors, you got to make sure it’s right. You can’t choose the wrong deal in a bad location or a project that’s just too heavy of a lift. You need to pay the right amount of money.

Finding that opportunity is tough, but I was able to do it after a little while. I will say, I think tougher than the first acquisition, it’s actually the second. People don’t really seem to talk about that much, because you’re sitting in a position where, okay, I already own a park, I know a lot more than I did before I owned it, that’s for sure, but now how do you take this and build a business around it and not just have one park? It’s a business, but it’s not really a business. It’s almost like a hobby. Great. It makes money, but it’s not a real business.

How do you scale it? Am I only looking in the general vicinity of the park that I own so that I can build up more management capabilities there and get economies of scale? Do I want to try and find something in a totally different area that I like geographically? How’s that going to play into the park that I already own? Those are tough decisions combined with a tough buyers market right now.

Andrew: Yeah, that’s what I was going to say, the toughest. You bought in 2023, interest rates are high. Maybe tell us about that. How did you make the numbers work on your first deal?

Jordan: Sure. Actually, everyone talks about interest rates and it’s so bad, interest rates are so high. To me, this is a great environment to buy in. Interest rates go up, they go down. If you look at the last 5, 10, 20, 30, 50 years of interest rate fluctuations, they’re all over the place.

The price that you pay for a property, your basis in that property will never change. If you overpay because the interest rates were 3% when you bought your property, the fact that you overpaid is you’re never going to be able to fix that. Maybe you can get lucky, add value, you can raise the rent, there’s a lot you could do, the stars align, and you do well, you make money. But that price you pay is never going to change.

I’d much rather pay less and have 7% or 8% interest rates than overpay and wind up in a really bad position when it comes time to refinance or a loan comes due. I think that this is actually a great environment to buy in if you can convince a seller to sell to you at the right price.

Andrew: And take a nine-cap, right?

Jordan: Yeah, exactly.

Andrew: Yeah, which is very tough to do. How many lots was that first park?

Jordan: First park has 60 lots, actually 89 self-storage units, and a single family home. A little bit of everything.

Andrew: Yeah, a little mixed use. How do you manage that? What are the utilities look like? 

Jordan: We have a well, we have well water, but we are on public sewer, which is great. We have a full time manager who’s really good. He’s a real manager. He’s not a guy in the park that gets paid a few hundred bucks or gets free lot rent to just collect the rent. He’s a real manager with a real salary who can easily manage three, four, five more parks in the area if I’m able to expand in that geographic range.

That’s how we manage it. It’s well worth additional money that it costs to make sure that you have a good manager. Especially, I live in New York. There’s not a lot of mobile home parks around here. The ones that are around here are in New York, where I would never want to invest.

By nature, I have to invest in places that are pretty far from my house, typically a multi hour flight followed by a multi hour drive. Making sure that you have the right management structure and systems in place is definitely key to making sure that you properly operate your park.

Andrew: Totally. Yeah, operations is so important. I found it to be tough. I’d self-manage my first five parks and it was just so tough. There are so many things to do from opening the mail to, you were taking back in that time, you were taking checks. You had 60 tenants mailing you checks every month and just so many different things to adapt to. Good management is super important.

What’s your strategy for new parks? Is it buying more around the Canton, Ohio area? Is it value add? Is it stabilized stuff? What type of strategy are you embarking on?

Jordan: Sure. Definitely looking very heavily around the Canton, Cleveland, Ohio area, but we’re not really limiting ourselves to that. Ultimately, I spoke before about how finding the second deal is very challenging because of all these additional factors of, do I only buy near my park now? Or do I go to a whole new market? I’ve pretty much decided that I really need to do both.

I don’t want to just be a guy who owns 30 parks within 30 miles of each other. I’d like to be sort of more diversified than that. We’re looking in the Canton area, but we’re also looking in other states as well.

Andrew: Nice. Okay. How did you like get educated on the mobile home park asset class, on due diligence, and things like that to buy your first park? I think that’s where a lot of people fail, they just get nervous. Like you mentioned earlier, analysis paralysis. What did you do to make sure you were doing the right steps?

Jordan: Sure. Luckily, there’s so much valuable information and educational resources out there if somebody truly wants to put in the time to learn the business. There are so many podcasts, books. There’s obviously the boot camps and the trainings.

The first thing I did when I even decided I wanted to think about getting into the business long before I identified the first park I was going to buy was I engage in attorney. I engaged Ferd actually, who many people know in the industry, Ferd Niemann. He was an incredible resource, helping me through everything from working with brokers navigating that playing field to figuring out how to negotiate the deal properly, putting together the actual PSA and documents, and then getting through due diligence.

It’s funny to me that a lot of people, I’ve heard a million times whether it’s on your podcast or other podcasts, what was the biggest mistake you made? Most of the time, it comes down to something that happened to due diligence that they miss, they know about. To me, the due diligence isn’t rocket science. You just have to make sure that you know what to look at. If you have the right to people around you, if you have a Ferd that’s on your team, he sent us his humongous due diligence checklist. While very exhausting and time consuming, we went through everything point by point. So far, so good.

Andrew: That’s awesome. Ferd’s a good guy, he’s been on the show. He works with so many new operators who help him do that. That’s really awesome that you paid the money. I think some people try to go cheap, try to just download something online, and use that. But I think that’s a good use of your time, for sure.

Jordan: Absolutely.

Andrew: Jordan, how did you find that first deal? Was that a listed deal through a broker, or did you find it off market?

Jordan: No, I found that deal through a broker. One thing that I tried to be very good about from the first deal that I looked at was I built a CRM for myself. Any deal that I look at you know, that looks even semi potentially interesting, I immediately put into there because I want to be able to keep track of everything in one place, but also, you get so many emails from brokers about deals that they’ll send over and over and over again.

It’s hard to keep track of, have I looked at this? Maybe I looked at it, and I didn’t like it for some reason. I don’t want to go back into it. Of course, you get a lot of deals that broker gets an offer, they accept it, it’s under LOI, they’re negotiating the PSA, maybe it even goes under contract, and then it falls through. It happens all the time.

I want to say at least 50% of the deals that I’ve analyzed and put some kind of offer out on that was rejected, I hear from the broker again in a month, two months, three months. This first deal that I took down, that’s exactly what happened. I learned early on that you got to put out a lot of offers. You just really have to put them out, because most of them you won’t really win, so to speak.

When this one was listed, I put out an offer. It wasn’t accepted. They went with someone else. For whatever reason, that fell through, Broker called me to put my offer back on the table, pretty quickly went under LOI, and got a sales agreement negotiated.

Andrew: That’s fantastic. That’s awesome. Yeah. Those are some of the best deals, and it’s tough to be that call when the deal falls through to be that backup buyer call. Kudos to you, especially as a first time buyer to be in the hunt for a deal like that. It’s tough to get on those. What mistakes have you made in mobile home park investing that we can learn from?

Jordan: Sure. Luckily, not that many yet, hopefully ever. The way that I would describe my experience so far is aim small, miss small. The park that I bought was not a small, tiny park that I bought for a couple hundred thousand dollars. It was decent  sized deal. But compared to someone who’s taken down a $50 million multifamily for their first dealer ever doing, it’s like a [inaudible 00:19:00].

All the lessons that we’re learning are cheap. For example, after closing, we found out that there were a number of tenants who had been prepaying their rent in advance. They’d pay on the 15th for the following month. The seller never told us that and hid it from us.

When it came time to collect rent, the first day of the first calendar month that we owned the park, there were a bunch of people that kind of said, what are you talking about? We already paid our rent for this month. We had to go back, figure it out, and it became a whole fight with the seller. But in the end of the day, maybe it cost me a couple thousand dollars.

What was the lesson from that? Next time I buy a park, I’m going to take $5000 and put it into escrow for 30 days after closing to make sure that any little things get cleaned up. Not an expensive lesson, relatively. Really just little things like that.

Luckily, the park we bought, tenants are great, people really pay on time by and large, everyone works. It’s really a great community. Stuff can always happen in business, but I think that if you do your diligence right, you are confident in what you’re buying and why you’re buying it, then things should generally work out.

Andrew: Yeah. Hopefully, for sure. Tell us about the storage component, 89 storage units do most of the tenants rent those units, or is it people from outside the park that are renting as well? Have you been successful keeping occupancy up?

Jordan: Sure. There’s definitely a slight majority of our stealth storage tenants, maybe 60% or 65% are also tenants of the park. They look at it as a great, valuable addition to them. I think the smallest unit, we charge maybe $20 or $25 bucks a month. The largest is maybe $140, $150. They love being able to store their stuff right next to their homes. That’s really a big value add for them.

We’re in a great location. We’re on a really main road. We have a big sign. Every month we get probably four or five people that just walk in and ask for a unit. Just last week, somebody online, they booked five of our largest $150 a month units.

They just booked it online, walked in, put locks on them, set up auto pay on a credit card. That’s huge. That’s $750 of additional lot rent effectively that someone just off the street came in and took one. It’s a great value add. It doesn’t really cost any money to run beyond what I’m already paying to manage by the same manager who manages the park. It’s great.

Andrew: Good little value add if you find an extra spot where you can put some self-storage units. Are these like portable units, or are they actually built in regular metal buildings?

Jordan: No, these are actual buildings. If there was no park, it would be a self-storage facility like a business in and of itself.

Andrew: Very cool. That’s awesome. Jordan, if you were looking to invest passively into a mobile home park syndication deal, for example, what are the most important things you would look for to ensure success knowing what you know today?

Jordan: Sure. I’ll give two answers on that. One answer, but I’ll start at the hundred thousand foot view, and then I’ll zone in a little bit. From the hundred thousand foot view, my answer would be the same as pretty much every guest that you’ve ever had on your show. You got to look at the operator. What’s their experience? What’s their background? How’s their success been in mobile home parks or in real estate? That doesn’t really tell you that much necessarily about somebody.

Andrew: How did you get your first deal?

Jordan: If someone was looking to invest with me, how do you convince someone to invest if the only answer is, do they have experience with home parks? What’s most important to me, I am a passive investor in many, many real estate deals, is I look at the operator not solely from the perspective of what have they done in real estate, but just what is their sort of business experience and track record in general, and how will that apply to the business plan for this park that they’re buying for this investment?

Ultimately, every park, unless you’re buying something that’s totally stabilized, which is not the market that I’m in, every park is a business plan. You’re going to instill it, you’re going to raise the rents, you’re going to improve it. What is the sponsor’s track record of building a business?

Andrew: What’s their business acumen? How can they execute?

Jordan: Right. Yeah, exactly. What’s their track record of executing on it? Can they apply that to mobile home parks? That is what is absolutely most important to me. I think anyone looking to invest passively should look for that in someone. I would also stay away from people who are sponsoring deals as a GP, who also have a full time W-2 job that will make it prohibitive for them to get their hands as dirty as they may need to.

I have businesses. This is not the only thing that I do, but ultimately, they’re my companies. I have managers in place. I don’t have a W-2 job. If I need to fly to Canton in three hours from now and catch a flight from LaGuardia, I could do it. I don’t have a boss that I got to request time off.

Also, it is a lot of time. Even though I have a full time manager there, I spend probably the majority of my time working on this. It’s a lot of work. It’s not mailbox money unless you’re a passive investor, which is great. But make sure that you’re investing with an operator that has business acumen, knows how to execute, has a good track record in general, and is able and willing to put in the time necessary to see the investment succeed and not have it as a hobby.

Andrew: That’s a great tip right there. Thank you for sharing that. I don’t think anyone else has discussed that, but I think some of the best deals as an LP that you can get is if you can find a newbie that’s getting into their first couple of deals, they’re raising money, their terms are typically more favorable to LPs.

If you find someone that can execute, my very first investor took a chance on me. I had flipped houses previously and had a little track record I could show him, but some project management experience I think is important. It’s harder to find. It’s harder to get that out of them. It’s less tangible, but I do think that’s a good tip on finding good operators. So thank you for that. What does the perfect mobile home park look like in your eyes and why knowing what you know now, Jordan?

Jordan: I don’t think there is such a thing. There is no perfect mobile home park. A mobile home park in Ohio, that is a perfect looking investment. It may look completely different from a mobile home park in Florida that I would say is the perfect mobile home park investment.

There’s a lot of factors at play. There’s the ones that everyone talks about like the utilities, obviously location is important, tenant base. To me, the absolute most important things are going to come down to location, like any other kind of real estate, and then the tenant base. I’ve gone to a lot of parks to look at. Even though I only own one so far, I’ve looked at many, many of them.

I always make a point to go on a Tuesday at 2:00 PM, because you could tell a lot from what’s going on in the middle of a weekday in a park about what that park is like. It could be in a fantastic area with high rents, it’s all city utilities, directly billed, paved roads. It sounds unbelievable, perfect deal, but then you go there on a Tuesday, and everyone’s just hanging around and no one seems to be working. That’s a big red flag to me.

If I go to a park that’s in a secondary market or even a tertiary market that has lower rents, and maybe has a well or has a wastewater treatment plant, but I go there and it’s empty except for some older retired people on a Tuesday afternoon, all else equal, I would probably consider that park a better investment than the other one that’s on all city utilities and people are all hanging around.

I bet that when I get into contract, I’m doing diligence, and look at the collections, I’m going to find that the people in the smaller park with a wastewater treatment plant are paying their rent and utilities every month, on time, maybe there’s one eviction a year, if even, versus the other part, which is constantly turning over. They got a lot of park owned homes because they can’t find people to sell them to. Great. City utilities, but that’s not the be all end all. There’s a lot of factors at play. There really is no perfect park. There’s a lot of different factors that make a park a good investment versus a potentially bad or just worse investment.

Andrew: Yeah, that’s great advice. I just looked at a park that from the 30,000 foot view, it’s  public utilities, direct billed. It’s a hundred lots, curbs, gutters, paved off street parking, all vinyl shingle homes, looks beautiful. But it’s in the middle of nowhere, Kansas. There’s not a big market around there for people, so it’s not a good deal, even though it looks good and the infrastructure is there. I agree with you. You got to look at each deal.

I think one of my mentors, he always told me, he’s like, use the 80/20 rule. If 80% of it looks good, it’s probably a good deal. They’re all going to have a little hair on it, and you’re just going to have to live with that. So, that’s good advice. What’s the biggest threat to mobile home park investing in your eyes, Jordan?

Jordan: I think that the biggest threat or one of the biggest threats that I’ve really come across are poorly intentioned operators and investors. What I’m really referring to are the guys that they’ll come in, they’ll buy a park, they will raise the rent immediately, won’t do anything else to add value to the park, and then nine months to a year later, they’re putting it back on the market and trying to sell it for a couple million dollars more.

That is the worst thing for this industry, because it makes those deals unaffordable for operators that can actually improve the park. Now, they’re trying to charge an amount that is just not viable for a park that needs a lot of infrastructure work. You got a whole load of pissed off tenants because someone came in, jacked up the rent sometimes by a hundred percent overnight without even doing any kind of facelift to make the residents feel like they’re getting any more value, and then also the residents feel like they’re just being traded like cattle. Oh, another owner has come in.

Every time I look at a park, the first place I start is I look at google reviews. I look at the Google reviews of the park. When you see a park like this where the seller just bought it a year ago, guaranteed when you look at Google, you’re going to see terrible reviews from residents saying, this park keeps changing hands, people keep just raising the rent, the park hasn’t gotten any better, I want to try and leave as fast as I can. That’s not a good park to get into.

Frankly, they’re ruining those investments for real investors like me and you. They’re ruining things for the tenants who now are going to be stuck in a crappy cycle. Eventually, someone probably will buy them. Maybe they’ll buy it for less than asking, but they will buy it, but they probably won’t have the money to put into improving the park anymore. Maybe they will, but maybe it’ll take them two or three years. That’s really a threat because it also feeds this news cycle of new owner comes in, buys a mobile home park, jacks up the rent, no one can afford it anymore.

Every week, Frank Rolfe sends the news of the week. It’s amazing to me how every single week, there are 20 articles. They’re all the same, but they’re all different. They’re all new, but the story is the same across all of them as is Frank’s analysis generally because it’s the same story. It’s just not a good look for the industry. It’s going to lead to rent control laws and all kinds of additional bad things.

This all starts with those poorly intentioned operators who are looking to make a quick buck as if they’re flipping a single family home. This is not the same asset class as a single family home, this is much more commercial than that. This is like buying multifamily just typically at a much smaller deal size, and it has to be thought of that way and treated that way, not like a single family home that you can fix, flip, and whatever.

Andrew: Yeah, totally agree. There’s got to be a social aspect of it, a social stewardship side of things, and I think some operators have pushed the limits a little much on that. Jordan, if any of our listeners would like to get ahold of you, what would be the best way for them to do so?

Jordan: Sure. You can email me at jordan@50westcapital. com, which I’m sure Andrew can put in the show notes. You can find me on LinkedIn, Jordan Savitsky. Google me. I bet my cell phone number is probably all over Google whether I like it or not. Give me a call, text me. Always happy to talk to people and meet other people who are in the space or looking to invest in the space, even if it’s just to ask questions about an operator or a potential investment that’s not my own.

Andrew: Awesome. Thanks for coming on the show, Jordan. You shared a lot of golden nuggets, and we wish you the best of luck.

Jordan: My pleasure. Thanks so much for having me.

Andrew: That’s it for today, folks. A reminder, please leave this show a review if you got value out of it. Thank you so much for tuning in. Have a good day.

Jordan: Five star review.

Andrew: There you go. Thanks, Jordan.

Jordan: My pleasure.

Would you like to see mobile home parks values and projects in progress? If so, follow us on Instagram @passivemhpinvesting for photos and awesome videos from our recent mobile parks acquisitions. Once again that’s @passivemhpinvesting on Instagram. See you there.