Mobile Home Park Investing with Ekaterina Stepanova

Starting from scratch in a new country seems challenging but today’s guest took $130 and pursued real estate opportunities in the U.S.  On today’s episode, we talk with Ekaterina Stepanova, a mobile home park investor who immigrated from Russia in search of the American dream. We discuss with Ekaterina the challenges she faced from building a business in a new country, how buying one unit at a time wasn’t going to cut it when achieving her goals, how to analyze mobile home parks, and what to look for during your due diligence. We also discuss her buying criteria and the importance of having a diversified tenant base. Ekaterina Stepanova was born and raised in Moscow, Russia, in a family of energy engineers. Recognizing early that engineering wouldn’t be a great fit after graduating college, she pivoted to the exciting world of Advertising. Ekaterina had continued success within advertising; becoming at only twenty-four years old and ranked in the top 5 advertising agencies in size and billings worldwide. Also at twenty-four, she fulfilled her longtime dream of becoming a property owner, when she purchased a rehab apartment in Central Moscow. In 2006, Ekaterina made a life altering decision and immigrated to the United States with her then husband following his dream of becoming and opera singer in New York. At that point, her newly renovated apartment in Moscow, became her first rental property with her Mom acting as property manager. Getting a taste of passive investing in the form of rental income and quickly learning about the wide range of opportunities for real estate investing in the United States, Ekaterina purchased her first “turnkey” property in Memphis 4 years ago. Unfortunately, after 2 evictions in the course of 6 months, made Ekaterina reconsider her appetite for residential real estate, ultimately turning to commercial real estate investing. That’s when she discovered Mobile Home parks and has been doing it ever since. Today, she is a partner at M2K Partners, who owns 2 mobile home communities and is also a Limited Partner in a 63-Space Park. Ekaterina is a host of a monthly “all virtual” meet-up for Mobile Home Park investors which focuses on giving real estate investors strategies, tools and tactics.   On today’s episode, we discuss a ton with Ekaterina, including: How to transition from turnkey single families to large commercial properties The importance of networking, relationships, and mentors All the property and rental options involved with mobile home parks Why mobile homes are recession resistant   Books/Resources The Alchemist by Paulo Coelho   Contact Information MHPTribe.com MHP Tribe Facebook Group   InvestHER Community Our mission is to support and inspire women real estate investors around the globe to live a financially free and balanced life. We are dedicated to creating empowering online and in person communities where women have a non-intimidating environment to ask questions and receive the support they need. Our vision is to see all woman investors achieve her financial freedom goals on her own terms.   How To Join the InvestHER Movement   1)  The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves.    Subscribe via Itunes  Subscribe via Android  Subscribe via Stitcher   2)  InvestHER Community on Facebook  We have 2k+ members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals!   3) InvestHER Meetups Around the Globe We have over 4k+ meetup members attending close to 25 InvestHER Meetups across the country and Canada.  Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvesther