Passive Real Estate Investing in Recession-Resistant Affordable Housing and Land

Spencer Pratt (00:00) What attracted me to the mobile home park part of the investment is understanding affordable housing issues that are in our country. I understand supply-and-demand nature for housing. Understand that even in our own city, they do not like to approve mobile home park developments. And so the supply is constrained. Demand for affordable housing in our country is high. And so understanding that dynamic, mobile home park part of the investment really made sense to me from that. my name is Spencer Pratt. live in Jackson, Tennessee, and I'm an executive with a credit union. I actually heard about Sunrise Capital Investors through a co-worker here at the credit union who was a previous investor through the current fund, and he had mentioned it to me. I guess the one thing that would have made me not want to invest is not feeling confident on understanding how the fund worked, and how the return was to be calculated. So despite this, what made me willing to move forward with the investment was, as a banker, as someone who's been in the industry and worked with other investors on rental property, I understood what Sunrise was talking about when I spoke with their employees as far as how the mechanism of returning capital, returning principle through refinancing of loans. I've seen it myself through other clients. It made me more comfortable and understand what they were doing. A specific benefit of really the mobile home park or the parking garage assets is very low maintenance. When I first heard about it, I was like, "I don't think I want to invest in mobile homes themselves." But that is not the investment. The investment is in the property and the land. And so understanding that they have very low maintenance and very low costs. This is an opportunity to invest in land that is going to be producing income for a long, long time. My overall experience as an investor with Sunrise has been great. They communicate well. Anytime I have a question - I've had several - they've always been quick to respond. I've never felt like I wasn't able to get a question answered. And they've been very good to communicate what's happening inside the fund, and keeping us up to date on what's happening. If you're sitting on the fence about an investment in Sunrise Capital, I would say you're about to invest in something that doesn't just provide a great return, the team there at Sunrise actually cares about the communities that they're serving, and they do about affordable housing, and trying to help solve that problem in our country.