Corey Woodruff is a successful real estate investor and CEO of CMH Capital, which specializes in mobile home communities and mobile home parks. Corey’s story illustrates the importance of being resourceful, having a good strategy, and being able to efficiently execute on deals. He credits his success to his ability to be systematic in his approach, learn from his mistakes, and stay focused on what was important. He shares lessons he learned from his experience buying and selling properties, including the importance of doing due diligence before making an investment and knowing the competition. He advises the importance of spending time with family and loved ones, and how that has influenced his perspective on success.
[00:01 – 07:10] Opening Segment
- Let’s get to know Corey Woodruff!
- How Corey invested in Mobile Home Communities
- Corey’s biggest success came from learning on the job
- He never asked for money from investors with 10 million or more
- He illustrates the importance of tenacity, consistency, and learning from mistakes when starting a business
- He went from living in a trailer park to owning 2-million-dollar park in just a few years
[07:11 – 19:15] Start Owning Your Own Park and Make Huge Returns
- Corey says in the past eight months, the company grew from 300 employees to 3000
- The growth was due to buying good deals and scaling the company by having 15 employees working in the office and finishing parks
- He is looking into the RV space and training employees to be separate in their lanes
- Corey’s goal is a hundred percent collections, 100% tenant morale, and 100% occupancy for all three of CMH Capital’s goals
- There is a big stigma surrounding mobile home parks
- Corey shares that he also been successful in acquiring mobile home parks off-market or through creative financing
[19:16 – 30:56] THE FINAL FOUR
- What's the worst job that you ever had?
- In college, he had a lawn mowing job
- What's a book you've read that has given you a paradigm shift?
- What is a skill or talent that you would like to learn?
- Corey wants to develop his skills on being a Software Engineer
- What does success mean to you?
- Corey shares that success means to him as, “The comfort of knowing that my kid’s not going to be fearful of where the meals are going to come from.”
Connect with Corey
Website: http://cmhcapitalinc.com/
Facebook: Corey Woodruff
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