In this episode, Leo Young, Founder and Managing Partner of Cornell Communities, unpacks the investment mechanics and operational realities behind scaling a specialized manufactured housing community (MHC) and RV park portfolio. Drawing from his background on the acquisitions team of a $4.5B private equity fund and high-stakes enterprise sales at Tesla, Leo details how hands-on operational grit, deep underwriting, and a focused niche playbook generate resilient risk-adjusted yields. He breaks down the economic advantages of the tenant-owned home land-lease model—highlighting how owning the underlying dirt and managing infrastructure eliminates unit-level turnover and maintenance headaches while providing dependable, recession-resistant cash flows. In addition to examining regional underwriting across the Midwest and Southeast, the conversation delivers actionable advice for emerging sponsors on navigating the transition from single-asset syndications to hybrid fund structures, managing investor alignment, and building institutional-grade credibility.
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