SACRAMENTO, Calif.--(BUSINESS WIRE)--The BoaVida Group, owner and operator of mobile home and RV communities across the country, has been named the fastest growing company by the Sacramento Business Journal. The award is based on increase in growth between 2017 and 2019, during which BoaVida grew more than 1,000 percent, finishing 2019 with revenue of $16.29 million.
“Being ranked as the fastest growing company means we have to stay on our toes because with growth comes a lot of challenges,” said BoaVida’s Eli Weiner. “For us, this marks day one, setting a new benchmark and now the hard work begins. We have to be ready and predict the challenges ahead.”
He credits the success with building his team, even before their duties were clearly known.
“It’s a matter of taking the risk and getting the right team before you need them,” he said. “You just do it, especially when you’re growing. You think, ‘I don’t know if I can pay for that,’ but it works out.” Contrary to most companies, BoaVida has increased its pace of hiring during the pandemic and is building its teams in property management and administration to work with its existing portfolio and the additional properties the company is acquiring.
Weiner said his plans for BoaVida include continued expansion across the nation, building the portfolio of properties and growing within their existing markets. BoaVida currently owns 108 properties in 18 states totaling more than 11,000 spaces, placing it among the largest operators in the country.
Weiner created a $60 million investment fund last year to facilitate BoaVida’s growth. In the past 12 months, the company acquired 34 communities totaling more than 3,200 spaces from California to Rhode Island. He followed up this year with an additional set of investor funds targeting another $60 million and is on pace to exceed $50 million in revenue this year.
“The funds allow us to move quickly, acquiring properties with cash and then investing in capital improvements to quickly increase the value for residents and investors,” Weiner said. “Investors who are interested in participating in the acquisition of mobile home parks should call us to get more information. I personally invest my money side-by-side with all our investors, so I cannot cherry-pick deals for my personal account. I believe in an investor-first culture.”
The BoaVida Group includes BoaVida Communities, BoaVida Homes and BoaVida RV Parks and Resorts. To learn more about investing in a portfolio of mobile home parks or more information on The BoaVida Group, visit https://theboavidagroup.com/