Iron Horse Interests specializes in transforming under-performing land-lease communities into high-performing, long-term, revenue-generating investments in the southeastern United States.
Our strategy begins with identifying under-performing and under-developed manufactured home communities in markets with high barriers to entry. We have the expertise to navigate the complexities of purchasing and repositioning land lease communities where we then create vibrant, affordable communities for working families and retirees.
Iron Horse Interests, LLC leverages the out-sourcing concept by maintaining a small team that is augmented by specialists at each project location and contracted support staff. Personnel are brought into each project as-needed and when-needed to ensure the best team can be assembled.
Paul has over 30 years of commercial and residential real estate development experience. His company provided Dayton Hudson Corporation with land assemblage, acquisition and development services for five Target “Power Centers” in Georgia and North Carolina. He has developed over 2 million square feet of retail space for both regional and national chains including: Publix Supermarkets, BI-LO, Hannaford Supermarkets, Kohl’s, Marshall’s, Belk, Barnes and Noble and PetSmart.
Ed is a CPA with 30 years of experience in real estate, finance, development and acquisitions; both domestically and internationally. He has specific expertise in strategic planning, capital procurement, financing, acquisition, investment, development and implementation of real estate solutions.
Lewis David Whitley is a third-generation manufactured home community owner and operator. His background includes both manufactured home communities and the management of self-storage facilities. He founded his first company in 2007.
Previously, Lewis was the Director of Park Management for RWW Enterprises, Inc.
Amy became on-site property manager for the Belleglade MHC in 2017. Before coming to Belleglade, Amy was the office coordinator for a 243-lot manufactured home community in Clarksville, TN.
Amy’s background includes auditing government contracts (at the state and federal level), management of an Advance America store and a general manager for Titlemax.
Amy has an extensive background in accounting, finance, title loans and personnel management.
Laura Garrison is a property management accountant and has been working with Iron Horse Properties, LLC since early 2018. She has over 15 years experience in financial statement preparation and specializes in accounts payable and receivable.
She has a BBA in Business Administration from Florida State University.
Erick is the youngest member of the team, and has been involved in the Real Estate industry for 5 years. His background includes Managing of diverse portfolios, ranging from Manufactured homes to Single/Multi-Family homes. He founded his first property management company, Mr. Properties LLC, in early 2016 and is involved with Property acquisitions and sales for a variety of Real Estate portfolios held by private investors.
Over a combined 65+ years of real estate, finance and development between the principal members of Iron Horse Interest.
Iron Horse Interest team has overseen the development and management of numerous multi-million dollar successful real estate projects including developments for Publix, Dayton Hudson, HCA, Equifax, Choicepoint & the Buckhead Church in Atlanta.
The Iron Horse Interest team has manufactured home properties that have maintained stabilization for over the 15 years and has managed the successful repositioning of several properties.
Our current projects include communities in Georgia and Tennessee. Our focus has been on acquiring properties that have lower occupancy than the surrounding areas, improving management efficiencies, bringing in new homes, updated and refurbishing existing used or abandoned homes and turning the community around, all of which leads to higher occupancy rates.
Year Net Losses as a Percentage of Average Loans
“While manufactured homes often make the most sense in sparsely populated areas, there’s no reason they can’t be used to increase the stock of affordable housing in U.S. cities.”
According to Buffett, manufactured homes account for about 70% of new American homes that cost less than $150,000, and Clayton Homes (owned by Berkshire Hathaway) manufactures close to one-half of the total manufactured homes built each year.
There is a tremendous need for affordable housing all across the country. Manufactured housing and land-lease communities offer one of, if not the best solution to meet this demand.
– Warren Buffet
Creating a path to home ownership is the key to successfully filling and operating a land lease community.
Iron Horse Interests established Southern Alliance Homes to solve the problem of how to fill vacant home sites with new homes. We are re-introducing common sense underwriting to the process. Our lease to purchase option agreements make home ownership affordable while providing us with a second revenue stream that can, in turn, be made available for outside investment.