LESSONS FROM CONRAD HILTON'S JOURNEY: EMBRACING BIGGER MOBILE HOME PARKS FOR GREATER SUCCESS By Frank Rolfe

Connecting Conrad Hilton's Hotel Story to Small Mobile Home Parks

The story of Conrad Hilton, the founder of the Hilton Hotels chain, began with the modest Mobley Hotel in Cisco, Texas. Although the hotel was small and not very profitable, it set Hilton on the path to success. This story holds valuable lessons for those considering investing in small mobile home parks, as it highlights the importance of adapting one's business model to achieve greater success.

The Mobley Hotel - A Small Mobile Home Park Parallel

Limited Size and Profitability

The Mobley Hotel, similar to a small mobile home park with 10 to 20 lots, offered limited income potential. Despite the operational challenges akin to managing a larger park, the small hotel's revenue was insufficient to provide a comfortable living for the Hilton family.

The Need for Change

Realizing that the Mobley Hotel could only provide a subsistence-level income, Hilton knew that something had to change in order to achieve a more prosperous life for his family.

The Turning Point - A Mother's Wisdom

The Quote that Sparked a Revolution

Hilton's mother, aware of her son's dwindling enthusiasm and frustration, advised him, "if you want to launch big ships, you have to go where the water is deep." This sage advice meant that Hilton needed to shift his focus to larger hotels in bigger markets, despite the greater risks involved.

The Journey to Success

Taking his mother's advice to heart, Hilton ventured into bigger markets and took on more significant risks. This gamble ultimately paid off, leading to the creation of the world-renowned Hilton Hotels chain.

Applying Hilton's Story to Mobile Home Park Investments

The Limitations of Small Mobile Home Parks

While there is nothing inherently wrong with small mobile home parks, their limited size restricts their financial potential. Both the authors have owned small parks, but if the goal is to create wealth, one must "launch a big ship" and "go where the water's deep."

The Benefits of Larger Parks in Bigger Markets

The financial potential of a 100-space park in a large city far exceeds that of a 15-space park in a small town, even though managing both parks requires roughly the same time and effort. Transitioning from a small park to a larger one in a more prominent market offers the opportunity to build substantial wealth and success.

Moving Forward - The Path to Greater Success in Mobile Home Park Investments

Testing the Waters with Small Parks

For those new to the mobile home park industry, starting with a small park can be a valuable learning experience. However, once the ropes have been learned, it is essential to consider moving on to larger parks in more significant markets.

Building a Legacy like Hilton

Following in Conrad Hilton's footsteps, those seeking wealth and success in the mobile home park industry should be willing to take risks and venture into bigger markets. This approach allows investors to build their own legacies, much like Hilton did with his hotel empire.

Conclusion: Embracing Bigger Opportunities for a Brighter Future in Mobile Home Park Investments

Conrad Hilton's journey from the small Mobley Hotel to the global Hilton Hotels chain provides valuable insights for those looking to invest in small mobile home parks. By recognizing the limitations of small parks and being willing to take risks in larger markets, investors can achieve greater success and create wealth in the mobile home park industry.

By Frank Rolfe

Frank Rolfe has been an investor in mobile home parks for almost 30 years, and has owned and operated hundreds of mobile home parks during that time. He is currently ranked, with his partner Dave Reynolds, as the 5th largest mobile home park owner in the U.S., with around 20,000 lots spread out over 25 states. Along the way, Frank began writing about the industry, and his books, coupled with those of his partner Dave Reynolds, evolved into a course and boot camp on mobile home park investing that has become the leader in this niche of commercial real estate.