3rd Party MHP Management!???? 🤷🏻♂️ 😬
@Ryan Narus, @Michael Pansolini, & @anyoneelse. Of the 10 parks I've bought I've always managed everything in-house. All operations from A-Z were done by my team. Taking on a lot of heavy-value ad parks in a short time required a lot!!! We learned SO much, made MANY mistakes, & still are learning better ways to do things. That’s something that will never change. With the 7 parks I currently own, we run our team lean and mean to cover all operations. Although I'm looking to begin acquisitions again soon & assessing the best ways to grow. 🤔 I'm looking to buy 3-6 parks in the next 12 months & each year thereafter. Maybe more, maybe less. But if we continue to manage in house, I know I'll need to beef up my team more & dial in systems/operations better. I know which roles I would hire & roughly how that'd look. But again I know it would be a lot of work, which I'm not afraid of if I needed to do it. Although I love… ➡️ Acquisitions (art of the deal) & ➡️ Investor Relations (finding the right partners to get the deal done with) To become an expert in an area I know you need to be super focused and go super deep on a skill. I'm considering the possibility of hiring a 3rd party management company to execute the plan and run the parks. I know this is a hot topic and I’ve heard many nightmares around this & there is the old saying, “no one will care of your properties better than you will.” I could see that over the next 3-10 years we’ll eventually have management back in house, although I’m trying to assess for the next 2-3 years while mastering a craft of acquisitions and raising capital do I want to have another expert run management. I realize anyone can find a good deal & get it closed, & the real money is made by properly executing a business plan, but I’m curious if there’s a middle ground to find. I expect it’ll be like finding a needle in a haystack to find the right management company, but would it be worth it!??