A note on how I’m involved
I co-founded Perdido Capital in 2022 with my business partner Caleb Hogan. We buy and operate mobile home parks across the Gulf South. At the time of this writing, we currently own 18 parks.
Why I ended up doing this
When I was 40 (after practicing for 10 years) I sprained my wrist on a ski trip. It was that moment I realized that everything I earned came through my hands. If that had been a break instead of a sprain, my income doesn’t get reduced, it goes to zero.
So I started looking for income that didn’t depend on me showing up and eventually found real estate syndications.
I spent years as a limited partner in other people’s deals first. Apartments, self storage, short term rentals, starting around 2018. Some worked and some didn’t, and I’ve written about both here.
What I kept coming back to was mobile home parks. They’re not exciting, and I’d say that’s the point. Residents own their own homes so we own the land underneath, people don’t move because moving a mobile home costs thousands of dollars, almost nobody is building new parks anymore, and demand actually goes up when the economy gets tough.
I met Caleb at a real estate mastermind, we bought our first parks together, and that turned into Perdido Capital.
What Perdido Capital actually is
We own and operate 18 mobile home park communities across Louisiana. Caleb runs acquisitions and day to day operations while I handle the investor relations side.
We’ve paid our investors on schedule each month since we began accepting investors into our projects.
That’s the honest summary. Past performance doesn’t guarantee anything, and every real estate investment carries real risk including losing money.
Where to start if you’re curious
Don’t start with a deal. Start by understanding how these things are structured, because most doctors get their first look at a syndication when somebody emails them one, and that’s backwards.
We put together a free guide that covers how these deals are actually put together, what the tax treatment looks like on your return, the questions to ask any operator before you wire money, and the mistakes we see doctors make most often.
It’s about a 12 minute read and there’s no obligation attached to it.
If you’d rather look around first, everything about the company is at perdidocapital.com.
A few things worth knowing
Most private real estate offerings, including ours, are limited to accredited investors under SEC rules. That generally means a net worth over $1 million not counting your home, or income over $200,000 individually or $300,000 jointly.
If that’s not you yet, that’s fine. A lot of the doctors reading this were in the same spot a few years ago. Keep learning how this works and you’ll be ready when your situation changes.
And if you want to keep getting the free education without any of this, the Passive Investors Circle is still the place for that.
