Founded in 2018 by real-estate influencer Brandon Turner, Maui-based Open Door Capital pools money from accredited investors to buy and operate mobile-home parks, an asset class it believes faces less institutional competition than traditional multifamily. Turner has leveraged his BiggerPockets podcast and 250,000-strong Instagram following to raise nearly $100 million in the last 18 months, deploying roughly 70% of that capital into mobile-home communities. To date, the firm has assembled a portfolio of 23 parks encompassing about 3,100 pads and has purchased approximately $200 million of property. Open Door Capital structures its offerings as closed-end funds and charges multiple fees, including a 2.5% acquisition fee, a 2% refinance fee, a 2% disposition fee, and a 7% cut of annual gross revenues. The firm markets its strategy as “mile-deep” specialization, emphasizing operational turnarounds and rent optimization. It has attracted investors almost entirely through social media, accepting only accredited participants. While critics cite its above-market fees, rapid fundraising momentum indicates strong retail investor appetite for its niche focus.

Total raised

$25M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2021