Being a part of huge teams can make acquiring million-dollar complexes easy for everyone in multifamily. On the contrary, mobile home parks have a different value proposition. When given a chance, the opportunity of changing people's lives in this asset class is something no nobleman can shy away from. In this episode of Wealth Science Podcast, Beau Wiltshire talks about the reason why he got into mobile home park investing, how he builds his team, his approach to asset management and rent increasing, and his views on quitting and ownership.

Mobile home parks are bridges from what? Find out in this episode of Wealth Science with guest Beau Wiltshire!

See Something, Do Something

Toward the end of each episode, Jesse always asks his guests a specific question. "If there's one problem in the world that you could solve, what would it be?" Beau took a second before sharing his thoughts about the question. After collecting his thoughts, Beau gave the question an answer that's significantly different from the answers that Jesse usually gets from guests.

For Beau, if he could, he'd fix the problem around self-reliance in normality. He believes that a lot of what is happening in his country today is people deferring so much responsibility on different issues. If you're trusting 535 people in congress to make everything great for you, your family, and your community, then you might be on the wrong spot, he adds. He believes it will be us, the people, who will start, make possible, and make all real change happen.

Hear from Beau Wiltshire's Psychology of Quitting in this episode of Wealth Science!

Robert "Beau" Wiltshire is an active duty Soldier in the U.S. Army with over 14 years in Special Operations. He has extensive experience in project management and the execution of complex tasks across a wide range of conditions. Considered an expert in his field, he has been entrusted with a Top Secret Security Clearance since 2003 and numerous programs critical to the security of the nation as part of U.S. Special Operations Command.

Investing in real estate since 2009, he began with single-family homes that he self-managed and maintained. In that time, Robert developed numerous best practices to ensure tenants were satisfied, resulting in longer-term leases and greater profitability. In early 2020, at the height of the COVID-19 pandemic, he partnered and raised capital to purchase their first mobile home park.

Through a well-executed business plan, he completed a complex utility conversion, rent increase to market level, and ultimately increased the park's value by 95 percent.

Outline of the Episode:

[01:36] Mobile home parks correlates to who we are as investors

[04:14] Reading Rich Dad Poor Dad in 1999

[07:20] Beau Wiltshire – on stumbling upon the best performing asset class

[12:14] A Bridge from The Failures of Government Housing

[16:50] Find what you're good at and build a team of people who are good at what you're not

[20:44] Asset Takeover: Day 0 to 30 of Asset Management

[24:19] Make the tenants the heroes of their own stories

[31:00] The Psychology of Quitting

[33:21] Investing in your wealth is a marathon—not a sprint!

[33:42] Beau Wiltshire – on self-reliance and ownership

Resources:

Website| Fortify Capital Group

LinkedIn| Beau Wiltshire

Connect with your host Jesse Futia on:

LinkedIn| Jesse Futia

Facebook| jesse.futia

Twitter| @FutiaJesse

[email protected]

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