Open Door Capital
A Real Estate Investment Company
from Brandon Turner.
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What We Do
We purchase Mobile Home Parks with a very specific set of criteria. We focus on immediate cash flow for investors – while also maximizing equity growth through forced appreciation in value-add communities.
We have in-house management – with over 35 years of combined experience – working efficiently to increase income, decrease expenses, and manage tenant satisfaction. This helps drive Net Operating Income, and ultimately, investor returns.
Why Mobile Home Parks?
Recession Resistant Asset Class
During a recession, rental rates don’t just drop like most assume. They compress starting at the top. The floor is so low with mobile home parks, there’s little room for movement, and even in a recession, most people can afford $200-$300 for lot rent.
Cash Flow From Day One
We believe that no investors should have to chose between cash flow and appreciation. That’s why we invest in CashGrowth™ properties – properties that consistently and conservatively provide cash flow, but with value-add opportunities that enable forced appreciation.
Many of the mobile home parks we purchase have 20-30% vacancy. This is part of our strategy, and allows us to bring in used (or sometimes new) homes to fill those vacant lots. Filling vacancies increases Net Operating Income (NOI) – increasing the value of the park, and increasing investor returns.
Reduced & Stable Operating Expenses
Because residents own their own home – and because of the prohibitive costs of moving a home – tenants tend to stay significantly longer than other asset classes.
Impact for Good
Many mobile home parks residents struggle with bad management and dilapidated infrastructure, which can affect their quality of life. At Open Door Capital, we set out to improve our parks. Not just for profits, but for providing affordable housing, and creating a feeling of dignity and pride in each community.
Brandon Turner, founder and managing member of Open Door Capital LLC, is the bestselling real estate author in the world and widely recognized as one of the foremost experts on real estate investing. Over the past decade, Brandon has established a strong track record investing in multifamily, including apartments and mobile home park assets. In addition to his accomplishments investing and publishing, Brandon is also host of the BiggerPockets podcast, which is the most downloaded real estate podcast in the world.
Key Principal & Asset Manager
Brian is the founder and CEO of Washington Street Properties, a commercial real estate investment and property management company that has been ranked on the Inc. 500|5000 list of the nation’s fastest growing private companies for five years in a row. Over this time period, Washington Street Properties has been the fastest-growing real estate company in New York State. In 2015 Brian was recognized with a Gold Stevie™ Award for Executive of the Year in the Real Estate Industry. He is the author of the bestselling and award-winning book Crushing It in Apartments and Commercial Real Estate.
VP of Acquisitions
Walker has led the Open Door Capital team through $40M+ in acquisitions and is a General Partner on 1,000+ units. Prior to joining Open Door Capital, he held a variety of engineering, finance, and account management roles across multiple industries. He holds a degree in Mechanical Engineering from the University of Georgia, an MBA from Georgia College & State University, and is currently pursuing a Master of Data Analytics degree from the Georgia Institute of Technology. He lives in Atlanta, Georgia with his wife and newborn twins.
Ryan spent 10 years in the electronics manufacturing industry before transitioning to real estate investing and property management in 2007. He has extensive management experience in many facets of real estate including retail, office, multi-family, HOA, and especially mobile home parks – including nationwide consulting and turn-around projects. Ryan has been a licensed real estate broker since 2008 and owns and operates a portfolio of residential rental properties.
Tricia has more than ten years of property management experience. As the Vice President of Property Management at Washington Street Properties she was instrumental in growing and managing a portfolio valued at over $50M. During this time, Washington Street Properties was recognized as National Real Estate Company of the Year and was presented with a Gold Stevie™ Award at the 12th Annual American Business Awards in Chicago. Tricia has extensive value-add experience, with a strong track record managing the turnaround of distressed and under-performing properties.
Tristan is a mobile home dealer, investor, and park owner. And in 2018 he was hired by Brandon Turner as Infill Manager of their first mobile home park near Bangor, ME. Tristan filled all vacant, usable lots in 12 months and personally owns over 50 mobile homes himself. Now, as part of the Open Door Capital team, he’s anxious to make a big splash nationwide!
With over 10 years of creating top-tier guest experiences at companies like Sixthman and The Zac Brown Collective, Mike is the perfect candidate for keeping our investors excited, informed, looked after, and appreciated. During that time, he built a personal portfolio of single family and multi-family properties, and plans to continue his investing career in the mobile home park space.
Micah comes to Open Door Capital from the hospitality industry, working in Finance at one of the premier vacation ownership resorts on Maui. He also has experience working in the Bay Area in tech, startups, and investment firms. In addition to managing the Operations Finance at Open Door Capital, Micah oversees the bookkeeping and finances for Brandon’s personal rental portfolio, and his house flipping efforts on Maui.