A row of burned out RVs and piles of trash can look like one impossible problem. Andrew Cramer learned that the key was breaking that problem into smaller pieces and solving them one at a time.

Andrew is with Bridgeview Asset Management, a company focused on manufactured home communities in the Pacific Northwest. His team looks for properties that often sit outside the institutional market and need real physical work.

Andrew walks through a Northeast Portland community that became one of his favorite projects. His team removed vacant units, cleaned up debris, worked with residents, added new homes, improved streets, installed lighting, added security, and created a playground.

The work also produced a strong investment result. Andrew says the property was purchased for about $2.75 million, received around $1 million in improvements, and sold about two and a half years later for $7.1 million.

Andrew also explains why he believes the stigma around manufactured housing can hurt residents. He sees a connection between improving the community and improving the value residents see in their own homes.

Key topics and takeaways:

• Why Bridgeview looks for manufactured home communities other buyers avoid
• How Andrew breaks a difficult property problem into smaller, solvable pieces
• The Northeast Portland project that went from rough conditions to a stable community
• Why street lights, locking mailboxes, security cameras, cleanup, and playgrounds can matter to residents
• How older records can sometimes reveal spaces that once existed on a property
• Why Andrew sees community improvement and investor returns as closely connected
• How the stigma around manufactured housing can affect people considering home ownership

Guest information:

Andrew Cramer is with Bridgeview Asset Management. The company has been focused on manufactured home communities for about 15 years and currently manages around 1,200 units across approximately 23 properties.

Andrew mentioned Clayton and CAVCO as places people can look at examples of manufactured homes being built today.

To connect with Andrew, search LinkedIn for Andrew Cramer. He also suggested searching for Bridgeview Asset Management to help locate his profile. Andrew said he has written many LinkedIn articles about manufactured housing, tiny homes, and related topics.

Call to action:

If you want to learn more about manufactured housing, home builders, real estate investing, or the industry, Andrew invited listeners to connect with him through LinkedIn.

Safe is sexy.

That simple phrase sums up a big part of Merrick Lee’s approach to medical real estate.

Merrick is a partner on the funding side of Love Capital Partners, where the group has built a portfolio of 94 properties. Their main focus is medical real estate, especially buildings used by dentists and veterinarians.

Merrick explains why the group chose triple net leases instead of focusing on multifamily. He also shares how he approaches capital raising.

For Merrick, it is largely about real relationships.

He meets people while traveling, at business events, through finance circles, and through existing connections. Instead of leading with a pitch, he gets to know people, learns what they are investing in, and introduces the offering when it fits the conversation.

Key topics discussed:

• Why the portfolio focuses heavily on dental and veterinary properties
• How Love Capital Partners reached 94 buildings and Series 3
• Merrick’s role bringing investors into the deals
• Why personal networking works better for him than random LinkedIn outreach
• How investor referrals and repeat investors have helped the group grow
• Why Merrick and Dave describe the approach as “safe is sexy”
• The group’s interest in continued growth and a possible future REIT

Guest information:

Merrick Lee is an online marketer, real estate entrepreneur, and partner on the funding side of Love Capital Partners.

Connect with Merrick:

investwithmerick.com

Merrick also jokes that you can Google “the coolest guy on the internet” to find him.

Call to action:

If you want to learn more about Merrick and the investments he discussed, visit investwithmerick.com.