Everyone wants affordable housing. And the demand never runs out!

Mobile homes are way more affordable than regular housing, and investing in mobile home parks can be a very successful long-term investment, if you do it wisely.

In this episode of the Hidden Money Podcast, we talk with Jarrid Cavanaugh of Affinity Asset Group, whose wide experience with mobile home parks and honest, insightful answers gives us a wealth of information on how to successfully diversify into this very affordable housing solution.

Disclaimer: The content of this podcast is not legal advice and is meant for educational purposes only.

In this episode, we discuss

• The importance of having a competent team, managing park-owned homes, and ensuring compliance with local regulations.
• Why meeting with city officials, fire marshals, and other local authorities is crucial for gaining support and avoiding operational hurdles.
• How previous mismanagement and crime in mobile home parks can create biases against new owners and impact investment outcomes.
• Specific examples of operational challenges, such as dealing with squatters and complying with unusual local regulations.
• The impact of local landlord laws and the role of law enforcement in managing and maintaining mobile home parks.
• Key financial metrics to look for, including below-market rents, park-owned homes, and utility billing strategies to increase Net Operating Income (NOI).
• The challenge of high debt rates versus low cap rates, and the competition from large institutional investors and the benefits and strategies of seller-financed deals, especially with mom-and-pop park owners.
• The advantages of bonus depreciation and cost segregation, specifically for land improvements and mobile home park infrastructure.
• Typical returns on investment, including cash on cash returns, and strategies for reinvesting capital to maximize long-term value.
• Jarrid Cavanaugh’s advice on getting started in mobile home park investments, including educational resources and mentorship opportunities.

To Learn More

You can reach out to Jarrid and explore the services his company provides on his website About – Affinity Asset Group or reach out to him via his Instagram handle @jarridcavanaugh

To access bonus tax content, go to https://www.hiddenmoney.com/bonus

To start using the tax code as a tool to grow your wealth, schedule a call with Pine & Co. CPAs: Consultation (pinecocpas.com)

Social Media Links

Instagram: https://www.instagram.com/hiddenmoney.podcast/

Facebook: https://www.facebook.com/hiddenmoney.podcast

YouTube: https://www.youtube.com/@HiddenMoneyPodcast

LinkedIn: https://www.linkedin.com/company/hidden-money-podcast/

Twitter : https://twitter.com/hiddenmoney_com

You can also listen to our podcast on major podcast platforms links:

Spotify - https://open.spotify.com/show/3rmae1bpxvirzfbM571fOK?si=d2129d6ac9ec4519

Apple Podcast - https://podcasts.apple.com/us/podcast/hidden-money-podcast/id1683510065

iHeart Radio - https://www.iheart.com/podcast/269-hidden-money-podcast-113479063/

Amazon Music - https://music.amazon.com/podcasts/9deef87a-307d-4767-af47-9e01bf0211f9/hidden-money-podcast

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Castbox - https://castbox.fm/channel/id5413766

Website - https://www.hiddenmoney.com/

The IRS’ goal is not to suck up your hard-earned money, but to encourage stewardship of it.

That’s why the tax code is designed to help businesses and build the economy. But not everyone understands this. Or knows how to responsibly use the tax code to build their financial future.

That doesn’t have to be you! In this episode of the Hidden Money Podcast, Mike Pine and Kevin Schneider share case examples and insights on how proactive tax planning with the right partners can hugely catalyze financial growth and a stress-free tax life.

Disclaimer: The content of this podcast is not legal advice and is meant for educational purposes only.

In this episode, we discuss

• The benefits of being a CPA, especially in consulting, due to the variety of client scenarios encountered.
• The suitability of different tax planning strategies depending on individual financial situations, and the importance of a customized approach, despite blanket tax advice.
• Case examples illustrating the consequences of not consulting a CPA before significant financial decisions, such as withdrawing large sums from retirement accounts or mishandling 1031 exchanges.
• The critical nature of a two-way partnership between clients and CPAs emphasizing the necessity of communication to avoid financial pitfalls and ensure proper tax planning, using the analogy of marriage.
• The approach Kevin and Mike take to help clients who come to them with tax issues after the fact, including their commitment to finding solutions.
• The potential savings from proactive consultation and the risks of not seeking advice before making tax-related decisions.
• The cost-effectiveness of initial tax planning consultations and the long-term benefits they provide.
• The assurance of quality and service from Pine Tax Services, including their commitment to addressing and rectifying any service errors.
• The invitation to potential clients to schedule a free initial consultation to explore how Pine Tax Services can assist with their tax planning needs.

To Learn More

You can reach out to Mike and Kevin for that free initial tax consult by visiting their website and scheduling your consultation from there - Consultation (pinecocpas.com)

You can explore the different services they provide on their website - Pine and Company CPAs - Investment Tax Strategy | Ongoing Tax Monitoring | Tax Filing (pinecocpas.com)

You can get some great information and education by visiting their blog - Blog - Pine & Co CPAs (pinecocpas.com)

To access bonus tax content, go to https://www.hiddenmoney.com/bonus

Social Media Links

Instagram: https://www.instagram.com/hiddenmoney.podcast/

Facebook: https://www.facebook.com/hiddenmoney.podcast

YouTube: https://www.youtube.com/@HiddenMoneyPodcast

LinkedIn: https://www.linkedin.com/company/hidden-money-podcast/

Twitter : https://twitter.com/hiddenmoney_com

You can also listen to our podcast on major podcast platforms links:

Spotify - https://open.spotify.com/show/3rmae1bpxvirzfbM571fOK?si=d2129d6ac9ec4519

Apple Podcast - https://podcasts.apple.com/us/podcast/hidden-money-podcast/id1683510065

iHeart Radio - https://www.iheart.com/podcast/269-hidden-money-podcast-113479063/

Amazon Music - https://music.amazon.com/podcasts/9deef87a-307d-4767-af47-9e01bf0211f9/hidden-money-podcast

Pocket cast - https://pca.st/9r4x6t36

Castbox - https://castbox.fm/channel/id5413766

Website - https://www.hiddenmoney.com/