By: Chelsie Carvajal
From acquisitions and investor updates to housing upgrades and team culture, the role of a CEO calls for focus and follow-through. To understand how one leader balances business growth with purpose, we spoke with Walter Johnson, the founder and CEO of Sonos Capital.
Q: How did Sonos Capital get started?
I began by investing my own capital into mobile home parks. As I saw success, I realized the opportunity to create a fund that would let others–team members and investors–participate in the returns while addressing a critical issue: the lack of affordable housing. This became the foundation for Sonos Capital.
Q: What decisions have guided Sonos Capital’s growth, and how do you choose markets that support your goals?
Our growth has been shaped by clear leadership and a commitment to accountability. We focus on acquiring and operating manufactured housing communities while maintaining strong relationships with investors and partners.
When selecting markets, we target landlord-friendly areas that allow us to operate effectively and improve properties. As we upgrade parks–removing blight, adding infrastructure–residents respond with longer stays, greater engagement, and a stronger sense of community.
Q: What steps does your team take to build a sense of community, and have any initiatives made a lasting impact?
We focus on creating safe, connected environments through programs like neighborhood watch, community events, and upgraded amenities. Simple additions like proper lighting help residents feel secure walking at night. Our involvement in county fairs, Thanksgiving and Christmas parties, and even offering our recreation rooms for residents to host their holiday gatherings have all made a meaningful impact. These events help build strong community ties and a sense of belonging.
Q: With the launch of Fund III, what challenges do you face and what changes can residents expect as you grow?
The space is getting more competitive as large investment firms move in, but our flexibility works in our favor. We’re able to assess and acquire properties quickly, thanks to our direct, on-the-ground presence.
As we expand, residents will see visible improvements–old homes removed, amenities upgraded, and overall park conditions improved. We’re also adding services like high-speed internet and streaming bundles that not only improve day-to-day life but also help residents save money.
Q: How do you balance financial goals with your broader mission, and how is that communicated to investors?
We’re disciplined about only investing in parks that meet both our return targets and our commitment to positive impact. Even if a deal looks good on paper, it has to fit our business model and values to move forward.
From the first conversation with investors, we make it clear that this is about more than financial gain. Creating value through real improvements in communities is part of the return–and we lead with that mindset.
Q: How do you keep your team aligned with Sonos Capital’s mission?
We’re deeply engaged in our team’s success and have cultivated a positive, exciting culture. We even conducted a blind internal survey, which showed 98% positive feedback. Our remote-first, collaborative environment keeps everyone motivated and connected.
Q: How does Sonos Capital build trust with investors while helping them understand your investment model?
We prioritize clear, consistent communication–keeping investors updated on regulations, property developments, and anything that could affect their involvement. That level of transparency has built lasting trust and satisfaction. Many investors are also curious about how mobile home communities compare to other asset classes like apartments or short-term rentals. Educating them on the strengths of our model is a key part of how we operate.
Q: How does leadership at Sonos Capital support new ideas and create space for meaningful contributions from the team?
Leadership at Sonos Capital is grounded in listening and collaboration. Everyone’s input matters, whether it comes from a team member, a resident, or an investor. One example of this in action was when a team member suggested a service we hadn’t explored before. That recommendation turned into a lasting partnership that continues to benefit the company. This openness is part of a broader culture focused on delivering quality housing, strong returns, and maintaining our role as a responsible, community-focused business.
Q: What’s your vision for Sonos Capital’s future?
We want to expand awareness around affordable housing and eliminate the stigma attached to manufactured housing communities. These parks should be seen as viable, quality places to live for people of all ages.
Q: What advice would you give aspiring entrepreneurs?
If you have a vision, pursue it. Ask for help, find a mentor, and hold yourself accountable. Believe in yourself–even when others don’t see your vision or try to limit you. Growth often comes from outgrowing others’ expectations. Whether you succeed or fail, you’ll learn–and that’s a win either way.
Disclaimer: The views expressed in this interview are those of the interviewee and do not necessarily reflect the views of any affiliated organizations. The content is for informational purposes only and should not be construed as professional advice.
