In this episode of the Massive Passive Cashflow Podcast, I sit down with investor and operator Jack Martin, Co-Founder & Chief Investment Officer of 52TEN, to break down why mobile home parks (MHPs) can be the most stable cash-flowing real estate when structured as tenant-owned homes (TOH) on leased land. From renovating SFRs and scaling multifamily to building an institutional-grade MHP platform, Jack explains the playbook: buy quality assets, stabilize, return capital, then keep the long-term coupon—with powerful bonus depreciation along the way.

An Army veteran turned entrepreneur, Jack co-founded 52TEN, an Arizona-based, vertically integrated investment firm specializing in the acquisition and repositioning of mobile home parks. The firm manages 1,800 lots across 5 states with $60M in private investor capital, helping clients invest with confidence using a long-term, tax-favored strategy. Jack’s broader background spans $450M+ in acquisitions/dispositions across residential and commercial assets, general contracting and development, and capital management.

We discuss how to underwrite institutional-quality parks (often 100+ lots), why TOH beats POH for durability and maintenance, what markets and regulations to watch, and how agency debt (Fannie/Freddie) and expense discipline (often ~30–40%) shape returns. If you’re an investor seeking durable income, low turnover, and smart tax planning, this episode is your blueprint.

What You Will Learn:

• How Jack “tripped” into mobile home parks—and why he never looked back
  
  

• Why tenant-owned homes (TOH) create exceptional stability & low turnover (avg. stays can approach ~15 years)
  
  

• The supply reality: for every 1 park built, ~10 are redeveloped—how scarcity impacts value
  
  

• A simple market screen: affordability gap (median home price ≈ $300k+), plus job & population growth
  
  

• Regulation & rent control: why owner-friendly jurisdictions matter—and how policy affects capex and community outcomes
  
  

• Underwriting the deal: target lot counts, quality thresholds, and getting agency-eligible debt
  
  

• Expense & utilities 101: typical 30–40% expense ratios; power direct-billed; water/sewer sub-metered & billed back
  
  

• The 52TEN playbook: buy great assets → stabilize → refi/supplemental → return capital → hold the coupon
  
  

• Tax angle: how bonus depreciation can create meaningful passive losses on K-1s (consult your CPA)
  
  

• Who can invest (accredited only) and the minimum check size ($100k)
  
  

Links & Resources:

• Website: https://52ten.com/

• LinkedIn: https://www.linkedin.com/in/jack-martin-52ten/

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Disclaimer: This episode is for educational purposes only and does not constitute tax, legal, or investment advice. Please consult your own professionals.