Hunting For Mobile Home Parks with Miles Noland

The Deal Scout

I'm excited to share with you some insights from my recent podcast episode where I had the pleasure of interviewing Miles Noland, a successful investor in RV parks, mobile home parks, and local businesses.

Miles' journey is a fascinating one, starting from his days as a baseball player and coach, to becoming a fitness entrepreneur, and finally transitioning into real estate. His story is a testament to the power of resilience, adaptability, and an entrepreneurial mindset.

Here are some key takeaways from our conversation:

1. The Power of Transition: Miles' transition from coaching baseball to investing in real estate was driven by his entrepreneurial spirit. He realized that he needed to find something that truly fit him, leading him to the world of real estate.
2. The Importance of Skills: Miles emphasized the importance of consistent cold calling and building relationships with potential sellers. He also shared his experience of negotiating prices with sellers, advising to focus on building rapport before discussing price.
3. Overcoming Fear of Rejection: Miles shared some tips for overcoming the fear of rejection when selling. He suggests adopting a casual and friendly approach, similar to how you would talk to your friends.
4. The First Deal: Miles' first deal in the mobile home park space was a turning point, giving him the confidence and credibility to approach other park owners. He emphasized the importance of not quitting and to keep making calls, as eventually, a deal will come.
5. Building a Team: As his company grew, Miles focused on building his team and internal operations. He hired people from Southeast Asia to assist with various tasks and also hired property managers and an operations person to handle collections and other issues.
6. Family and Business: Miles acknowledged the challenges faced by the spouses of entrepreneurs and expressed gratitude for his wife's support. He also shared his approach to investing in operations and profitability rather than constantly pursuing new deals.
7. Podcasting: Miles hosts a podcast show, "Story Time for Commercial Real Estate," which serves as a personal diary for his children to understand his thoughts and actions. He releases one episode per week, covering various topics related to commercial real estate.
8. Advice for Aspiring Investors: Miles advises aspiring investors to be prepared for the journey to be ten times harder than they anticipate. He recommends buying programs, hiring coaches, reading books, and taking action to increase their chances of success.

I hope you find these insights as intriguing as I did. If you're curious to learn more about Miles' journey, I invite you to listen to the full podcast episode.

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