Trailer park millionaires and "different" RE investments

[Account Closed]

Hello BP!

Wanted to reach out and see if anyone on here was involved in any real estate success stories in "different" areas. BP is always awesome but the majority of the time on the forums I read about single family flips and buy and hold multi-family units. I do that my self and for my clients and love it but I am looking for different scenarios for this post.

When I was a wealth manager for Morgan Stanley one of my clients was the "king of trailer parks". He owned 23 across the U.S. and although I cant give too many details, he clears after-tax about 900k a month.

When I found that out my jaw dropped. Not because he was the wealthiest guy I worked with but I never considered trailer parks in my real estate investment strategy to build wealth.

He had a manager on each site that collected rents, dealt with the city about electrical and water hookups, etc. but my client didn't really do anything except scout for other opportunities and spend about 5 hours managing his trailer park empire.

Again not the richest person ever or anything but he worked about 10 hours a week and had almost no stress in regards the parks.

He was also a guy like me that had been brought up very poor and did it himself, which was pretty amazing.

I had another client who owned self storage facilities and it was a similar story. 

I love working in real estate doing flips,buy and holds and working with clients but I was just curios what other types of cool things were out there.

Anyone do or hear of any other RE strategies that some would consider "different"?

Thanks for your time,

- James Joseph

[Michael Wagner]

Hi James and Welcome to BP.

I focus all my RE efforts on Self Storage.  I can't compare to the numbers you mentioned in your post but from a lifestyle standpoint, I have been fortunate enough to experience the "hands off" benefits associated with this type of investment. My families modest lifestyle is paid for in roughly 10 hours of work per week and more than half of that is done at our house (bookkeeping etc.).  We have two facilities and LOVE everything that storage has done for our family.  Check out my blog here on BP for an introduction to this awesome industry if you are so inclined.  

All the Best,

Mike