Why This $100M+ Investor Traded Apartments for Manufactured Homes With John Cohen

John Cohen, co-founder of Toro Real Estate Partners and JC Property Group, joins Nate and Tom to break down a real estate journey that started with $300 tax deed auctions and grew into hundreds of millions in multifamily, land, and development deals.
John explains why he and his team sold almost their entire multifamily portfolio between 2020 and 2023 right before interest rates spiked, why he believes multifamily is a great long-term hold but a terrible short-term play right now, and why he's shifted his focus to buying land and putting brand-new manufactured homes on it for first-time homebuyers using FHA and USDA financing.
The conversation covers deal economics, unlevered 20–30% return targets, why he avoids traditional debt on his land deals, his take on the data center land rush, and the biggest lessons and mistakes he's seen after more than a decade investing through multiple market cycles.
Request a free discovery meeting: go.therealestatecpa.com/mlre
Join the Hall CPA Team: www.therealestatecpa.com/careers/
Get the Ultimate Guide for Real Estate Syndications: go.therealestatecpa.com/mlreultimateguide
Submit your questions to: go.therealestatecpa.com/question
The Major League Real Estate podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, investing, financial, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests. Any mention of third-party vendors, products, or services does not constitute an endorsement or recommendation. You should conduct your own due diligence before engaging with any vendor.