What Open Door Capital does

Open Door Capital (ODC) is a private real estate investment firm founded in 2019 by Brandon Turner, former co-host of the BiggerPockets podcast, that raises capital from accredited investors to acquire and operate mobile home communities, self-storage facilities, and multifamily apartment assets across the United States. Capital is deployed through single-asset syndications and diversified funds (currently spanning Funds 1-11 and the Generational Wealth Fund), with investors becoming direct equity owners of property-holding LLCs and earning returns from cash flow distributions and appreciation upon sale. Starting with Fund 11 the firm layered a private credit sleeve (projecting 4-6% year-one cash flow) alongside its value-add equity strategy.

The firm operates a vertically integrated property management subsidiary called Open Management for its mobile home community portfolio, supported by a dedicated internal infill team (three Infill Project Managers and a Director of Infill) that sources, sets up, and sells manufactured homes into vacant lots. ODC's proprietary deal-sourcing and underwriting framework evaluates more than 1,000 deals before selecting one, and the firm has cumulatively acquired over $1 billion in real estate (6,700+ units across 14 states) since inception. Operations run on a distributed remote team, with an investor portal (InvestNext) serving as the technology surface for capital subscriptions, document distribution, and K-1 delivery.

ODC monetizes through standard real estate sponsor economics: asset-level management fees on investor capital and carried interest on realized profits, with minimum investments undisclosed but 1031 exchanges accepted at $1M+. Distribution is sales-led and direct — accredited investors are reached through the founder's personal brand (podcast, books, blog), the company website and email, scheduled introductory calls, and SMS inquiries. Key personnel include CEO Walker Meadows (General Partner on 13,500+ units, $982M+ in acquisitions led), co-founder Brian Murray (founder/CEO of Washington Street Properties, 8,000+ units owned), SVP of Investments Jae Park ($600M+ in acquisitions led), and VP of Investor Relations Mike Williams ($494M+ raised since inception).

Name

Open Door Capital

Legal name

Open Door Capital, LLC

Website

https://odcfund.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Open Door Capital is a private real estate sponsor founded in 2019 that raises capital from accredited investors to acquire and operate mobile home communities, self-storage facilities, and multifamily apartments through single-asset syndications and diversified funds across 14 U.S. states.

Ownership category

akta.pro rank

Product category

Private Real Estate Investment

NAICS

Other Investment Pools and Funds (5259)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

akta.pro secondary industry

Private Capital Introducers (PE/VC/Private Credit) (FSAEAMAE)

Keywords

• Private real estate investments
• Real estate syndication
• Mobile home communities
• Self-storage investments
• Multifamily investments

Headquarters

HQ city

Kihei

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Private Real Estate Fund Investments: ODC raises capital from accredited investors to acquire and manage real estate assets (mobile home communities, self-storage, multifamily apartments). Investors become direct equity owners of LLCs that own the properties. Returns come from cash flow distributions and property appreciation upon sale. The company offers both single asset offerings and diversified funds.
2. Management and Performance Fees: As sponsor/general partner of the investment funds, ODC earns management fees and carried interest (performance fees) from the investor capital raised. This is the standard compensation structure for real estate syndication sponsors.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Open Door Capital is a private real estate investment firm that provides accredited investors with access to private real estate syndication opportunities. The company identifies, acquires, and manages assets across mobile home communities, self-storage facilities, and multifamily apartments through diversified funds and single-asset offerings, with vertically integrated property management handled by its subsidiary Open Management.

Product overview

Open Door Capital is a private real estate investment firm offering accredited investors access to private real estate syndication opportunities. The core product consists of single-asset offerings and diversified funds across three primary asset classes: mobile home communities (manufactured housing), self-storage facilities, and multifamily apartments. The company also offers private credit through strategic partnerships. The investment structure includes both project-specific syndications and diversified funds (such as the Diversified Cash Flow Fund and Cash Flow Fund 2), with offerings across Funds 1-11 and the Generational Wealth Fund. The firm operates with a vertically integrated property management subsidiary (Open Management) for mobile home communities and provides investors access to a secure portal for tracking their investments. Minimum investments can be processed through self-directed IRAs, and the firm accepts 1031 exchange proceeds for larger investments ($1M+).

Differentiator

Problem solved

Functional benefit

Brands

• Open Management: Vertically integrated property management company for mobile home communities, created to maintain higher quality standards than third-party management options.

Products and services

• Diversified Cash Flow Fund A diversified investment fund offering exposure across mobile home communities, self-storage, and multifamily asset classes with a focus on cash flow and long-term value. Targeted at accredited individual investors.
• Cash Flow Fund 2 A follow-on diversified cash flow fund targeting consistent distributions through a mix of real estate asset classes. Available to accredited individual investors.
• Mobile Home Community Investments Single-asset or fund-level investments in manufactured housing communities, focusing on value-add opportunities through improved management, infrastructure upgrades, and infill of vacant lots. Targeted at accredited individual investors.
• Self Storage Investments Investment opportunities in self-storage facilities, targeting operational improvements and market stabilization in a recovering sector. Targeted at accredited individual investors.
• Apartment/Multifamily Investments Investment opportunities in apartment complexes and multifamily properties across growth markets. Targeted at accredited individual investors.
• Private Credit Private credit investments offered through strategic partnerships, providing fixed scheduled payments through interest on loans for predictable cash flow, integrated into fund strategies like Fund 11. Targeted at accredited individual investors.
• Open Management (Vertically Integrated Property Management) In-house property management company that handles mobile home community operations, providing control, quality, and cost efficiency with aligned interests to property success. Operates as a wholly owned subsidiary of Open Door Capital.
• Investor Portal Secure investor portal for reviewing investment details, accessing documents, K-1 downloads, and monitoring portfolio performance for accredited investors.

Quantifiable outcome

• Over $1 billion in real estate acquired using their deal sourcing and underwriting framework
• +4 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Clayton HomescoreStrategic or Co-development PartnerClayton Homes is a manufactured housing company and one of ODC's strongest manufacturing partners. ODC toured Clayton's manufacturing facility in Knoxville, Tennessee as part of their 2025 corporate meetings. Factory-built homes are critical to ODC's business model for driving occupancy, stabilizing NOI, and delivering long-term returns through their mobile home community infill strategy. Clayton produces tens of thousands of homes annually and ODC works with them alongside other manufacturers across different markets.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Equity LifeStyle Properties: Public REIT focused on manufactured housing communities and RV resorts — same MHC asset class as ODC's core focus, providing a public-market benchmark for institutional MHC ownership economics.
• Marcus & Millichap: Large commercial real estate investment services firm specializing in brokerage, financing, and advisory across multifamily and specialty assets — comparable in the broader real estate capital advisory space, though MMI is a brokerage/advisory intermediary rather than a principal investor like ODC.
• Sun Communities: Public REIT specializing in manufactured housing communities, RV resorts, and marinas — directly comparable asset class (MHC) focus to ODC's core strategy, but operates at much larger institutional scale as a public REIT.
• Yieldstreet: Broader alternative-investment platform offering accredited investors access to real estate, marine, legal finance, and other private credit — comparable in private credit and real estate sleeves, but materially larger and more diversified beyond real estate.

Direct peers

• RealtyMogul: Real estate crowdfunding platform offering accredited investors access to private commercial and multifamily deals and REITs — comparable accredited-investor-only distribution model and emphasis on passive income.
• CrowdStreet: Online real estate investment marketplace that connects accredited investors with institutional-quality commercial real estate deals across multiple sponsors and asset classes — same accredited-investor-only private placement model and multi-asset exposure that ODC uses.
• EquityMultiple: Real estate investment platform offering accredited investors direct access to private commercial real estate deals with diversified funds and individual offerings — closely mirrors ODC's diversified-fund-plus-single-asset offering structure.
• Fundrise: Direct-investing real estate platform offering diversified eREITs and individual projects to retail and accredited investors — comparable in pooling investor capital into diversified real estate strategies, though Fundrise operates its own deals end-to-end like ODC.
• Streitwise: Private non-traded REIT focused on commercial real estate for income-oriented individual investors — comparable in raising capital from individual investors to acquire and operate income-producing real estate.

Emerging players

• Arrived Homes: Online platform allowing individual investors to buy fractional shares of single-family rental properties — comparable in democratizing access to private real estate for individual investors, though Arrived focuses on SFRs rather than MHC/multifamily/self-storage.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Open Door Capital