Tullos REI

The risky question you ask yourself in a competitive market:
How much upside do you bake in your underwriting?

Competition is fierce right now in mobile home parks
Everyone wants to buy them (big players & small)

And sometimes you look at a winning bid
and wonder how someone got there!

This one checked a lot of boxes:
→ 52 units
→ Strong metro
→ High average household income
→ Same state we already operate in

We submitted an offer that worked, but didn’t get it...turns out we were $400k off the winning bid!

Biggest reason why is that we factored in the new statewide rent regulations.

So someone else was willing to:
1. Pay for more future upside
2. Accept more regulatory risk
3. Assume a cleaner biz plan ex*****on
(Or maybe all 3)

Good asset.
Good market.
≠ the right price for us.

On to the next one.

Happy Father’s Day to all the incredible dads out there! 🏡💼

Today, we celebrate the fathers who invest in their families, futures, and homes. Whether you’re building a legacy through real estate or nurturing your family’s dreams, we appreciate the hard work and dedication you put in every day.

Here’s to the dads making smart investments for a brighter tomorrow. Enjoy your special day!

Happy holidays from Tullos REI!