Passive Mobile Home Park Investing: Recent Episodes
Andrew Keel
Welcome to the Passive Mobile Home Park Investing Podcast! This is where you can get most of the education you need to passively invest in the highly profitable investment niche of mobile home parks. Hosted by active mobile home park investor and operator Andrew Keel, this show will guide you through 5 different series, which are: Why invest in mobile home parks?, How to invest in mobile home parks?, What to look for when investing in mobile home parks?, How to vet a mobile home park operator?, And finally, an interview series with mobile home park rockstars! Join us today to find out how you can retire early through the lucrative niche of passive mobile home park investing! This podcast is for informational purposes only and should not be depended upon for investment decisions.
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews John Lindley, President of the Michigan Manufactured Housing Association.
Since taking the helm as President and CEO of the 80-year-old Michigan Manufactured Housing, RV, and Campground Association in October 2021, John Lindley has become a leading advocate for the future of the manufactured housing industry. Before assuming his current role, John gained extensive experience as a lobbyist with Public Affairs Associates, one of Lansing’s most respected government relations firms, bringing that expertise to his leadership at the Michigan Manufactured Housing Association.
In this episode, Andrew Keel and John Lindley dive deep into the crucial intersection of legislation and the mobile home park industry. John provides valuable insights on how mobile home park community owners can actively support Manufactured Housing Associations, emphasizing the importance of board involvement and not just donations. He also stresses the need for mobile home park owners to stay informed and to communicate effectively with legislators, using precise language to ensure their concerns are heard on key issues affecting mobile home park management.
Tune in now to gain actionable strategies and expert insights from Andrew Keel and John Lindley, designed to help you succeed in the evolving mobile home park investing landscape!
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
0:30 - John Lindley’s journey to his current role as the head of the Michigan Manufactured Housing Association
03:38 - The Mobile Home Park Industry is under fire with legislative changes
05:36 - Providing value to mobile home park community owners
07:45 - Housing supply crisis in Michigan and how to assist with legislation changes
14:26 - What matters most to mobile home park community owners and operators
23:29 - Is now a good time to invest in Mobile Home Parks in Michigan?
25:30 - Diverse homes, poor communication, zoning, and how initiatives like “NIMBY”(Not In My Backyard) have made zoning even more restrictive for mobile home parks
28:56 - Reaching out to John Lindley of the Michigan Manufactured Housing Association
29:50 - Engage in your manufactured housing state association and be aware of what your state associations are doing on behalf of all mobile home park investors in that state
30:30 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL: https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Michigan Manufactured Housing Association: https://www.michhome.org/
John Lindley’s contact number: 517-449-0487
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“I started my career in the legislature as a staff member, a member of the State House Representatives, and have always been really a kind of a policy walk associated on, you know, focused on policy.” - John Lindley
“We need everybody to be a member of the (Manufactured Housing) association.” - John Lindley
“Engaging in the (Manufactured Housing) association's efforts is a particular use when it comes to [helping the effort].” - John Lindley
“How could you talk about affordable housing and not mention manufactured housing, right? Like, it could be built for less than half the price of a site-built house and is more green as well. A lot of people forget that.” - Andrew Keel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews a very special guest in Joe Fairless of the Best Ever Real Estate brand.
Joe Fairless is the Co-founder of Ashcroft Capital with over $2.7 billion of assets under management. He is also the author of the Best Ever Apartment Syndication Book, creator of the Best Ever Real Estate Show podcast, and he personally has completed over 120+ Limited partner investments.
In today’s episode, Andrew Keel and Joe Fairless dive into Joe's impressive journey of managing a real estate portfolio worth over $2.7 billion. They discuss passive versus active investing, effective portfolio tracking, and highlight the importance of staying informed on market trends.
Andrew and Joe explore a potential game-changer in the real estate market: a looming undersupply of Multi-family and Apartment housing that could lead to a significant housing crisis within the next 12-24 months. They also discuss how investors can strategically navigate and capitalize on this anticipated shift, particularly in the mobile home park sector.
Joe shares insider tactics for securing lucrative mobile home park deals, also reviews how he as a Limited Partners (LP’s) looks at capital calls for passive real estate investments, and provides expert tips on vetting General Partners (GP’s).
Tune in now to gain valuable insights and actionable strategies to thrive in the evolving mobile home park investing game with Andrew Keel and Joe Fairless!
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:27 - Joe Fairless’s journey to managing a real estate portfolio of over $2.7 billion
06:30 - Passive (mobile home park) investing versus actively (mobile home park) investing
09:13 - Tracking your (mobile home park) investment portfolio and following trends in the market
13:35 - Joe Fairless current limited partner (LP) investments including mobile home park deals
15:53 - The importance of deploying the right business model to achieve investment success.
19:00 - Current supply and demand within the housing industry and how investors can capitalize on this anticipated shift in the mobile home park sector
25:40 - A possible housing crisis in the next year
27:56 - The critical role of Limited Partners (LP’s) and how to view capital calls for mobile home park and apartment investments
30:43 - Joe’s tips for vetting a general partner and mobile home park operator
33:06 - Reaching out to Joe Fairless
34:20 - Learn like you’ll live forever
34:49 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Ashcroft Capital: https://ashcroftcapital.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“So passive investing, profits, and tax advantages can be similar to actively investing from a return standpoint.” - Joe Fairless
“47 % of people with credit card bill are still paying it off from stuff they spent last summer.” - Joe Fairless
“This is the greatest difference (between supply coming online and being started) since the 1970’s. It's just completely shifting from lot’s being built to, basically, nothing being built. And that demand is going to continue to increase.” - Joe Fairless
“The average amount of people within a household on the new leases of apartments has dropped about 3%. It’s the lowest since 2016.” - Joe Fairless
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel guides us through the seemingly simple process of making a million dollars buying a mobile home park.
Did you know that by buying an 80 lot mobile home park in a good market and simply raising rents $30/ year for 3 years, you can make $1 million? It seems simple, but in this episode I unravel why this is NOT A GUARANTEE.
Andrew Keel defines what he thinks a prime market looks like for mobile home parks by focusing on things like poverty levels, population dynamics, top employers, and market rents.
Andrew talks about current mobile home park investment costs and the potential returns, the impact of higher interest rates, and what to expect if they decrease.
Andrew also highlights the significance of understanding the value of a single occupied mobile home park lot and emphasizes the importance of thorough due diligence and partnering with experienced investor operators to make a million dollars in this niche investment arena.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. To successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. We have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to us if you could help contribute to that. Thanks ahead of time for making our day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:50 - Andrew’s definition of a good market: poverty levels, population growth, diverse employment, market lot rents
06:55 - What you’re likely going to pay in today’s market for a mobile home park
10:14 - Interest rates are high but what happens when they go down?
14:00 - Submetering and rent increases = value add
15:00 -The value-add with self-storage vs. trailer park investing
16:49 - Mobile home parks as an investment vehicle
17:30 - The value of an occupied lot equation
19:16 - Why it is important to do proper due diligence and work with an experienced trailer park investor
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Link to Google Sheet referenced in the episode: https://docs.google.com/spreadsheets/d/1Aeszo_C-bs8MPCChEIS28fQMkwvdXasPp3RFBx4_uqs/edit?usp=sharing
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“Proper due diligence before purchasing a mobile home park is super, super, super important.” - Andrew Keel
“Investing with experienced mobile home park Investor-operators can help you avoid costly mistakes.” - Andrew Keel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews mobile home park investor, Nick Najjar of ACS Communities and Elephant Capital Partners.
Nick Najjar, a previous guest on the show back in 2022, is the principal owner of ACS Communities and Elephant Capital Partners. He oversees six manufactured housing communities with a total of 295 sites. ACS Communities also holds minority partnerships in various mobile home parks across the United States and has completed over 25 mobile home park deals.
Nick Najjar leads all aspects of ACS Communities and Elephant Capital Partners, from mobile home park acquisitions and business development to the operations and property management of their manufactured housing communities.
In this episode, Andrew Keel and Nick Najjar explore the high demand for affordable housing, the in’s and out’s of wholesaling and assigning mobile home parks, and the differences in the assignment of mobile home park deals compared to other asset classes. They also discuss the use of third-party mobile home park property management. Nick Najjar shares his insights on closing mobile home park deals, emphasizing the importance of transparency, fostering rapport, and supporting the mobile home park investor community.
Join us as Nick Najjar shares his knowledge, enthusiasm, and passion for the mobile home park investing asset class on this episode.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:32 - Perspectives on wholesaling in the Mobile Home Park Industry
08:00 - Assignment of mobile home park deals versus other asset classes
14:48 - How Nick Najjar closes a mobile home park deal
19:30 - Business Management - Focusing on and delegating specific tasks
22:00 - The Mobile Home Park Industry is a volume game so you have to get creative.
24:44 - Using third-party mobile home park property management
28:30 - It’s all about trusting the system and the job
32:47 - Understanding quick value-add in mobile home park investing
37:21 - Park-owned homes
40:08 - The affordable housing demand will always be high
42:47 - Reaching out to Nick Najjar
43:12 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
The previous 2022 episode with Nick Najjar: https://keelteam.com/post/interview-with-nick-najjar-of-elephant-capital-partners/
Elephant Capital Partners Website: https://elephantcp.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“You’ve got to have a lot of rapport. You have to build a lot of trust. So I think displaying your track record of previous deals is important.” - Andrew Keel
“Every property has some issues.” - Nick Najjar
“I think the key is finding out what the seller really wants and then getting creative to make that happen.” - Nick Najjar
“One of the things I love about this business is there's always a new challenge, always something I'm learning something new literally almost every day- like yesterday.” - Nick Najjar
“The deals are out there. So it's all about volume. Like you got to look at a lot of deals.” - Nick Najjar
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews mobile home park investor and operator John Evans of Six Rock Properties.
John Evans began his career in the Oil and Gas industry in 2002 and ventured into mobile home park investments back in 2015. He now manages a portfolio of over 600 lots. He currently serves as the Chief Project Officer at Six Rock Properties, a family-owned business founded in 2014. Headquartered in Charlotte, North Carolina, Six Rock Properties owns and operates several manufactured housing communities.
In this episode of the Passive Mobile Home Park Investing Podcast, host Andrew Keel and John Evans discuss the importance of educating oneself on the mobile home park asset class, taking decisive action when investing into off-market trailer park investment opportunities, and the crucial role that utility bill back management plays in the success of value-add mobile home park investments. They also explore the top threats to the manufactured housing community industry, particularly that of redevelopment, and the future of state initiated regulatory changes for the mobile home park asset class.
Join us as John Evans shares his journey from starting in the Oil and Gas industry to becoming a mobile home park investor, the strategies he used to grow his mobile home park portfolio, his “super power" and the insights he gained along the way.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:21 - John Evans’ career evolution from the oil and gas industry to Mobile Home Park Investing
04:30 - The importance of getting educated in mobile home park investing
09:00 - Get out of your own head
10:00 - John Evans’ strength: relating to the blue-collar community of trailer park owners
14:20 - Avoiding the trap of being overconfident when investing in mobile home parks
15:20 - Utility bill back management can make or break your mobile home park investment
18:45 - Referrals, education, and downtime are so important
21:15 - Effective utility bill back management can potentially make a perfect mobile home park investment for John Evans
22:30 - Analysis paralysis and bring in the right place at the right time
23:33 - The future of mobile home park investing
26:26 - The Mobile Home Park asset class faces numerous threats, including the risk of redevelopment and government regulation
30:36 - Reaching out to John Evans
31:10 - Educate, educate, educate (in the Mobile Home Park Investing Industry)
31:51 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
John Evans’ email: jevens@6rockprop.com
John Evans’ phone: 985-318-4498
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“It was all learn as you go.” - John Evans
“[The toughest part of mobile home park investing] is just getting out of your head if you’re afraid of failure. Sometimes you don’t want to, you’ve never done something like this before and you’re afraid to fail so just kinda go for it.” - John Evans
“You can never build too much rapport.” - Andrew Keel
“Don’t get too confident once you get traction.” - John Evans on mobile home park investing
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews mobile home park investor and operator John Evans of Six Rock Properties.
John Evans began his career in the Oil and Gas industry in 2002 and ventured into mobile home park investments back in 2015. He now manages a portfolio of over 600 lots. He currently serves as the Chief Project Officer at Six Rock Properties, a family-owned business founded in 2014. Headquartered in Charlotte, North Carolina, Six Rock Properties owns and operates several manufactured housing communities.
In this episode of the Passive Mobile Home Park Investing Podcast, host Andrew Keel and John Evans discuss the importance of educating oneself on the mobile home park asset class, taking decisive action when investing into off-market trailer park investment opportunities, and the crucial role that utility bill back management plays in the success of value-add mobile home park investments. They also explore the top threats to the manufactured housing community industry, particularly that of redevelopment, and the future of state initiated regulatory changes for the mobile home park asset class.
Join us as John Evans shares his journey from starting in the Oil and Gas industry to becoming a mobile home park investor, the strategies he used to grow his mobile home park portfolio, his “super power" and the insights he gained along the way.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:21 - John Evans’ career evolution from the oil and gas industry to Mobile Home Park Investing
04:30 - The importance of getting educated in mobile home park investing
09:00 - Get out of your own head
10:00 - John Evans’ strength: relating to the blue-collar community of trailer park owners
14:20 - Avoiding the trap of being overconfident when investing in mobile home parks
15:20 - Utility bill back management can make or break your mobile home park investment
18:45 - Referrals, education, and downtime are so important
21:15 - Effective utility bill back management can potentially make a perfect mobile home park investment for John Evans
22:30 - Analysis paralysis and bring in the right place at the right time
23:33 - The future of mobile home park investing
26:26 - The Mobile Home Park asset class faces numerous threats, including the risk of redevelopment and government regulation
30:36 - Reaching out to John Evans
31:10 - Educate, educate, educate (in the Mobile Home Park Investing Industry)
31:51 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
John Evans’ email: jevens@6rockprop.com
John Evans’ phone: 985-318-4498
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“It was all learn as you go.” - John Evans
“[The toughest part of mobile home park investing] is just getting out of your head if you’re afraid of failure. Sometimes you don’t want to, you’ve never done something like this before and you’re afraid to fail so just kinda go for it.” - John Evans
“You can never build too much rapport.” - Andrew Keel
“Don’t get too confident once you get traction.” - John Evans on mobile home park investing
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Brian Spear of Sunrise Capital Investors.
Brian Spear, Co-Founder of Sunrise Capital Investors, manages several mobile home park focused investment funds with his partner and fellow podcaster, Kevin Bupp. At Sunrise Capital, Brian is responsible for investor relations, marketing, and regulatory compliance. He earned a Bachelors of Business Administration in Marketing from the University of Kentucky, where he attended on a baseball scholarship and served as team captain.
In this episode of the Passive Mobile Home Park Investing Podcast, Andrew Keel and Brian Spear explore the resilience of past mobile home park investments, trailer park investment regulatory considerations, and strategies for navigating new manufactured housing community acquisitions with higher interest rates. They also dive into the operational challenges of managing mobile home parks and the pitfalls of entering the mobile home park asset class with uninformed optimism. Brian Spear provides insights into his current trailer park portfolio, the growth of his team and the importance of clarity in business relationships.
Tune in as Brian Spear shares valuable insights from his extensive experience in the mobile home park investing asset class, highlighting the potential pathway to investing in mobile home parks in order to achieve financial freedom.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:23 - The power of taking the initiative
06:25 - Brian Spear’s current mobile home park portfolio
08:00 - The growth of Brian Spear’s team at Sunrise Capital Investors (Mobile home park property management and investing team)
10:13 - The hurdles experienced in the mobile home park operations and property management
13:10 - Pivoting around higher interest rates when investing in mobile home parks
16:20 - Investing in mobile home parks to achieve financial freedom
21:33 - Clarity on both sides of the table helps tremendously
24:30 - Going into the mobile home park business with uninformed optimism
27:16 - Increasing a mobile home park’s value after acquisition
30:00 - Why mobile home parks will likely continue to outperform every other asset class
32:14 - Government regulation and what we can’t control
34:14 - Reaching out to Brian Spear
34:31 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Connect with Sunrise Capital Investors: https://sunrisecapitalinvestors.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“When you don’t have the resources, you have to be resourceful.” - Brian Spear
“Nobody’s going to care [about your business] as much as yourself.” - Brian Spear
“If you want to do it right, you’ve gotta find a way to have systems and processes.” - Brian Spear
“We don’t buy markets, we buy deals.” - Brian Spear
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Glenn Yaney of Vertical Equity Partners.
Glenn Yaney began his real estate investing career back in 2012 as a property manager in Tampa Bay, later advancing into the role of leasing manager for the state of Florida at American Homes 4 Rent. In 2020, he partnered with Garrett Smith to become a General Partner at Vertical Equity Partners. Together, they manage a diverse portfolio of over 400 rental units, ranging from mobile home parks to apartment complexes, all handled and managed in-house by their dedicated property management team.
In today's episode, Andrew Keel and Glenn Yaney explore the differences between tenant-owned and park-owned mobile homes, they also dive into the intricacies of mobile home park septic systems and leach fields, and discuss two capital raising investment strategies for mobile home park deals: debt and equity. Glenn also recounts his transition from Corporate America to mobile home park owner.
Tune into this episode of the Passive Mobile Home Park Investing Podcast with Andrew Keel and Glenn Yaney to learn about the significance of tenant retention and tenant satisfaction in order to foster thriving manufactured housing communities.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:12 - Glenn Yaney’s journey from Corporate America (American Homes 4 Rent) to mobile home park investor
13:21 - Glenn Yaney’s portfolio in the Tampa, Florida MSA
17:40 - Learning through experience when investing in mobile home parks: leach fields, septic tanks, and mobile home park-owned homes
21:35 - Sourcing mobile home park deals through brokers
24:35 - Rough mobile home parks are sometimes the best mobile home parks to invest in.
28:03 - Two ways to invest in mobile home parks: debt and equity
34:53 - Prospectus with mobile home parks in Florida
37:37 - Reaching out to Glenn Yaney
38:00 - Focus on the mobile home parks with tenant-owned homes
39:49 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
The Millionaire Journey Podcast: https://podcasts.apple.com/us/podcast/the-millionaire-journey-podcast/id1728886342
Glenn Yaney Twitter/X: https://x.com/GlennYaney
Vertical Equity Partners: https://www.verticalequityproperties.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“These are all lessons that would have been hard to learn without going through the work.” - Glenn Yaney
“A lot of (mobile home park) brokers do favor people who rely on them.” - Glenn Yaney
“Building relationships (in the Mobile home park asset class) is key, for sure.” - Andrew Keel
“You want it to be a nice place to live. I want to go to bed at night knowing that I’ve done the right thing.” - Glenn Yaney
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Daniel Weisfield of Three Pillar Communities.
Daniel Weisfield, a previous guest on the show, is a third-generation mobile home park owner-operator. Growing up, he spent his time fixing porches and mowing lawns at his grandfather’s mobile home parks on the west coast in California and Washington. He holds a JD and an MBA from Yale University and is a licensed attorney in California.
Since Daniel’s interview in October 2020, the Three Pillar Communities portfolio has experienced remarkable growth. It has expanded from just under 30 communities in 5 states, comprising 2,700 lots, to more than 70 manufactured housing communities across 14 states, now serving over 10,000 residents with a team of 120+ employees.
In this episode, Andrew Keel and Daniel Weisfield dive into various aspects of the mobile home park industry, including ground-up mobile home park development, passive investing tips for LP’s (limited partners), why vertically integrated manufactured housing community operators are better, value-add mobile home park investment returns, regulatory risks, and the crucial role of providing safe, quiet, and affordable housing for low-income individuals.
Tune in to explore the intricacies of the mobile home park industry, understand its highlights and challenges, and gain valuable insights from Daniel Weisfield, as he shares golden nuggets for limited partner investors eager to navigate this dynamic commercial real estate investment sector.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:50 - Daniel Weisfield’s real estate journey and how the Three Pillar Communities portfolio has grown in the past few years
06:50 - Andrew Keel’s foray into self-storage investing, his portfolio, and investment strategy
12:41 - Daniel Weisfield’s experience with RV parks
15:00 - Getting more proactive with mobile home park off-market deals
17:30 - Ground-up mobile home park development
20:00 - For Sale Mobile home model and estimating potential profits in underwriting
22:30 - Vertically integrated manufactured housing community operators
25:00 - Land development skills and when to hire professional developers
27:45 - The importance of making investment mistakes and learning from them
33:00 - Investing passively in ground-up mobile home park developments
34:30 - Peace and security in a quiet mobile home park community
36:40 - Puyallup River RV Park
41:14 - Getting a fair return on your mobile home park investments
43:44 - Reaching out to Daniel Weisfield and accessing his newsletter
44:30 - Being knowledgeable and knowing who your mentors are
44:57 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Daniel Weisfield’s LinkedIn: https://www.linkedin.com/in/daniel-weisfield/
Three Pillar Communities: https://threepillarcommunities.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“One thing I've observed in manufactured housing is investors in this asset class, particularly new investors in this asset class, fall in love with the (Mobile Home Park) asset class story and forget the first rule of real estate, which is location, location, location.” - Daniel Weisfield
“It takes a lot of time to master (Mobile Home Park) operations; it doesn’t just happen overnight.” - Andrew Keel
“We strongly believe in a for-sale (Tenant-Owned Home Mobile Home Park) model.” - Daniel Weisfield
“Don’t believe the hype about mobile home parks.” - Daniel Weisfield
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Loan Broker Scott Modelski, Managing Partner at Black Bear Capital Partners.
Are you looking to invest in mobile home parks but unsure how to navigate the loan process? Scott Modelski can help guide you through it.
With over 15 years of experience in commercial real estate, Scott Modelski is a seasoned loan broker who has worked with both institutional and entrepreneurial sponsors across various asset classes. He began his career at Wells Fargo Bank’s Commercial Real Estate Group, handling transactions exceeding $1 billion. Now, as Managing Partner at Black Bear Capital, Scott specializes in sourcing and executing structured debt and equity transactions.
In this episode, Andrew Keel and Scott Modelski explore the complexities of banking dynamics and the intricacies of navigating Fannie Mae and Freddie Mac deals. They dive into crucial topics for Limited Partners (LPs), including insights on the 10-year treasury, strategies for restructuring capital in the case of excessive debt, and the current banking cycle's nuances. Scott shares invaluable tips on distressed commercial real estate deal situations and essential pre-loan preparation with how mobile home park operators or sponsors can best position themselves for securing a cash-out refi loan.
Join Andrew Keel and Scott Modelski as they provide a comprehensive guide to securing financing from banks, uncover why mobile home parks are a standout asset class, and offer expert advice to help you secure the financing for your manufactured housing community investments.
Tune in for a deep dive into the world of real estate financing and mobile home park investing with Andrew Keel and Scott Modelski.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:30 - Scott Modelski’s history in commercial real estate and working with Andrew Keel when financing Mobile Home Park investments
05:00 - Three ideal solutions for the lender during a recession
10:44 - The nuances of the current banking cycle
15:18 - Restructuring capital if you took on too much debt
17:25 - Distress in the Mobile Home Park market
19:07 - The good thing about using a mobile home park loan broker and typical terms offered
23:34 - Younger investors in the mobile home park asset class
25:37 - Investing with a mobile home park operator as a Limited Partner (LP)
29:50 - Mobile Home Parks usually allow investors the opportunity to add value quickly to their investment
34:09 - Fannie Mae and Freddie Mac have a give-and-take investor relationship
41:21 - What Limited Partners (LPs) need to know about the 10-year treasury
43:37 - Investors looking to refinance: short-term loans versus long-term loans
45:46 - The perfect mobile home park from a debt perspective
47:20 - Tips on how a mobile home park operator or sponsor can best prepare for a Mobile Home Park financing event
49:00 - Reaching out to Scott Modelski
50:09 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Black Bear Capital Partners: https://bbcp-llc.com/
Scott Modelski’s cell number: (312) 217-4511
Scott’s email address: smodelski@bbcp-llc.com
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“The banks right now are not really taking a lot of action.” - Scott Modelski
“We haven’t seen folks come back to work like they were pre-COVID.” - Scott Modelski on office
“There's always some level of distress in the marketplace, even in a really strong upmarket.” - Scott Modelski
“There's definitely a wide range of both personalities and market outlooks and the way people put together deals..” - Scott Modelski
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Dave Foster, Founder and CEO of ‘The 1031 Investor.’
Dave Foster, a seasoned 1031 intermediary investment professional, brings over two decades of expertise in all aspects of real estate investing, ranging from commercial to residential properties. With a degree in Accounting and a Master’s in Management, Dave possesses a deep understanding of 1031 exchanges, enabling investors to strategically leverage these funds for passive investments.
In this episode, Andrew Keel and Dave Foster dive into the complexities of 1031 exchanges. They explore the advantages of these exchanges for both active and passive investors, strategies for transitioning to passive investing using 1031 funds, and forward-thinking retirement planning, including converting properties into retirement residences. Additionally, they discuss the impact of the 2018 changes on furnishings, fixtures, and equipment (FF&E), as well as the nuances of capital gains taxes and the current tax rates.
Join the conversation today as Dave Foster shares his extensive real estate investing knowledge and offers invaluable insights into the intricacies of the 1031 Exchange.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:11 - A crash course on the 1031 exchange for commercial real estate investors
08:43 - Using 1031 funds to move into passive investments
12:45 - Using 1031 funds for a (mobile home park) REIT investment.
17:00 - Planning ahead for your retirement and tips on managing the often daunting time-frame limits associated with 1031 exchanges
21:10 - Converting your 1031 exchange property into a series of retirement primary residences
23:21 - FF&E (furnishings, fixtures, and equipment), and the impact of the 2018 IRS tax law changes
26:00 - Nuances of Capital gains taxes and the current tax rate
27:34 - Getting in touch with Dave Foster of the 1031 investor
28:35 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
The 1031 Investor: https://www.the1031investor.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“If you want to put a small amount because a lot of people will test the water with syndications. If you want to put a small amount into it, do a 1031 exchange.” - Dave Foster
“With the 1031, there is an option to defer it throughout your entire lifetime. And when you die, your heirs will inherit that property tax-free.” - Dave Foster
“The 45 days, is it tight? Sure. However, but what if you thought about your 1031 before you sell your property?” - Dave Foster
“Well, one roof will wipe out 20 years of cash flow. So if I'm hanging on to that, I'm hanging on to a house of cards.” - Dave Foster
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Steve Edel and Justin Gonzales from Due Diligence Partners.
Due diligence plays a pivotal role in every mobile home park acquisition, whether you're on the buying side or selling side, of a trailer park investing transaction. However, navigating this process can often feel overwhelming, with numerous boxes to check and paperwork to organize before making a final decision. Fortunately, this is where Justin Gonzales and Steve Edel step in from DueDiligencePartners.com.
As the founders of Due Diligence Partners, Justin and Steve, offer a comprehensive national due diligence service tailored specifically for manufactured housing communities. Managing partner Justin Gonzales, a Navy veteran, entrepreneur and an active real estate investor with over 14 years of experience, has overseen well over a hundred mobile home park due diligence acquisitions. His partner Steve Edel, transitioned from the information technology (IT) field to become an active investor in the mobile home park asset class. Together, they recognized a critical gap in the mobile home park investment industry: the lack of proper and professional due diligence services.
In this episode, Andrew Keel sits down with Justin Gonzales and Steve Edel to dive into the complexities of evaluating and completing due diligence on mobile home parks. They explore key questions investors should pose to general partners (GPs) before committing capital to a mobile home park syndication, they dive into essential due diligence documentation that should be required, they outline the minimum requirements for a thorough mobile home park due diligence process, and they shed light on the costly mistakes often made by mobile home park operators during due diligence.
Join the conversation as Justin Gonzales and Steve Edel (also known as Stathis Edel on LinkedIn) from Due Diligence Partners share their extensive knowledge and recount some eye-opening due diligence anecdotes, offering invaluable insights into this essential aspect of mobile home park investing.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
02:05 - Two different worlds: Steve Edel’s transition from IT to the mobile home park asset class
05:18 - Getting over “analysis paralysis” in 2009
07:32 - Steve’s mobile home park portfolio
08:20 - Justin Gonzales’ “yadda, yadda” (journey into mobile home park investing)
10:52 - What Due Diligence Partners can do for your mobile home park due diligence
16:00 - The difficulty of due diligence experienced in Mobile Home Parks
18:50 - Mobile Home Park due diligence eye opening stories
28:35 - The top questions they would ask a GP(General Partner) before investing with them in a mobile home park fund or syndication
35:30 - Essential mobile home park due diligence documents needed
39:31 - What Justin Gonzales and Steve Edel consider the bare minimum for mobile home park due diligence documentation from a seller
45:45 - The most costly items that mobile home park operators omit when performing due diligence
50:00 - What Justin and Steve consider in a perfect mobile home park
53:15 - Getting in touch with Steve Edel and Justin Gonzales
53:22 - Figuring out what your definition of “passive” mobile home park investing is
54:39 - Conclusion to mobile home park investing due diligence
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL: https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Due Diligence Partners: https://www.duediligencepartners.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“We were very apprehensive about our first (mobile home park) deal. Not having a freaking clue that it was a fantastic deal. At that time, I didn't have the ability to easily look ahead and say, ‘Of course, this is a guaranteed slam dunk.’” - Steve Edel
“It does take hard work, but it is attainable.” - Justin Gonzales
“If you don’t know what to ask, it just doesn’t happen.” - Steve Edel, about due diligence on mobile home parks
“Your infrastructure is half of the value of the property.” - Steve Edel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Jordan Nodel of Nodel Parks.
Jordan Nodel, the Principal of Nodel Parks headquartered in Bloomfield Hills, Michigan, oversees a diverse portfolio of over 40 mobile home parks spanning across 10 states, including the unique landscape of Alaska.
On this episode of the Passive Mobile Home Park Investing Podcast, Andrew Keel and Jordan Nodel discuss Jordan's journey into mobile home park investing and the nuanced generational differences in approach when evaluating mobile home park investments and making mobile home park management decisions. They also discuss strategic considerations such as optimal locations for mobile home park investments, emphasizing areas with burgeoning growth and employment opportunities. They also discuss competing in the mobile home park sales market and how short-term investment perspectives often clash with long-term sustainability goals. They both agree on investing in larger, more attractive mobile home park properties, particularly those equipped with essential public utilities for operational efficiency and ideal scale.
Tune in to uncover Jordan Nodel’s comprehensive outlook on the Mobile Home Park Industry, including his strategies for effectively managing his mobile home park portfolio scattered across the entire United States (from Alaska to Alabama), and Jordan’s insights into what defines “the perfect mobile home park.”
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:20 - How Jordan Nodel got started in mobile home park investing
06:41 - Generational differences in buying criteria when choosing mobile home park deals and purchasing new mobile home parks.
09:02 - Buying mobile home parks in optimal locations with growth and employment opportunities
11:56 - Competing against other mobile home park investors who have a short-term outlook on their investments
14:00 - Larger and more appealing mobile home park locations, preferably with public utilities
15:45 - Investing in commercial real estate
16:53 - Stability and upside in a mobile home park for the residents and the investors
21:41 - From Alaska to Alabama: how Jordan Nodel manages his mobile home parks when they are so spread out
23:55 - People who are in the mobile home park business for quick money
26:00 - Getting in touch with Jordan Nodel
26:46 - The importance of trust in investing
27:28 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Nodel Parks website: https://www.nodelparks.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“The ability to steer my own ship, so to speak, to grow the value of the company, do more deals, to travel to properties to see them or to oversee our operations was something very attractive..” - Jordan Nodel
“There’s no price you can put on sleeping well at night.” - Jordan Nodel
“When you don't have the pressure under you of a fund or a short-term outlook, you could do a few deals a year and be very happy. And now we own around 40 (mobile home) parks all across the nation. That's a pretty good portfolio to have.” - Jordan Nodel
“Investing in cash-flowing real estate is a more slow and steady proposition. This isn't venture capital.” - Jordan Nodel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews LP (limited partner) Investor Advisor, Aleksey Chernobelskiy of Centrio Capital Partners
Aleksey Chernobelskiy, a prominent figure in the real estate private equity investing community engages with over 3,500 LP investors weekly through his Substack platform and he adds value to a substantial following of over 20,000 on Twitter and LinkedIn. His background includes overseeing a staggering $10 billion real estate portfolio at STORE Capital, a notable public REIT, which comprised over 3,000 commercial real estate properties. Moreover, he spearheaded a 20-member underwriting team at the firm.
Aleksey holds a quadruple major from the University of Arizona in Finance, Mathematics, Economics, and Accounting.
In this episode, Andrew Keel and Aleksey Chernobelskiy dive into the intricate world of Limited Partner Investments. They discuss REIT underwriting, effective methods for vetting General partners, identifying reputable GP’s, and establishing investment safety thresholds. They also shed light on the intricacies of commercial real estate deal structuring, evaluating downside risks, navigating assumptions as a LP, along with providing invaluable insights into PPM recommendations and crucial elements to scrutinize within them.
Join us on this episode as Aleksey Chernobelskiy (LP advisor helping investors with passive real estate positions) shares his wealth of knowledge and expertise on LP investments with us.
This is an episode not to be missed if you are considering passive mobile home park investments.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
02:00 - Sometimes the best things appear randomly in your life
04:00 - REIT underwriting teams
07:35 - How to best vet a potential General Partner
15:00 - Where returns need to be for people to feel safe enough to invest
17:13 - Downside risk and assumptions as an LP
25:05 - How deals are being put together
29:00 - LP and GP interests tend to diverge during times of distress
31:10 - Learning as a passive investor
33:45 - How to find a good GP
36:00 - PPM recommendations and what to look for
38:36 - Finding Aleksey Chernobelskiy online
39:00 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
“Don’t Lose Money” LP Lesson video: https://www.youtube.com/watch?v=-EO2x7EdNzA
“My Deal is Distressed. Now What?” by Aleksey Chernobelskiy: https://www.lplessons.co/p/my-deal-is-distressed-now-what
“5 Ways in which Real Estate Can Lose You Money” by Aleksey Chernobelskiy: https://www.lplessons.co/p/5-ways-in-which-real-estate-can-lose
“26 Questions to Ask Your GP” by Aleksey Chernobelskiy : https://www.lplessons.co/p/26-questions-to-ask-your-gp
Aleksey Chernobelskiy’s LinkedIn: https://www.linkedin.com/in/chernobelskiy
Aleksey Chernobelskiy’s Twitter/ X: https://twitter.com/chernobelskiy
Aleksey Chernobelskiy’s Substack: https://www.lplessons.co/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
X/ Twitter: @MHPinvestors
Quotes:
“I had a team of 20 [underwriters], as you said, who were specializing in specific industries. And their job would be to sort of understand the information on the given property, the alignment of incentives between the different people, the risk levels, how the business is performing, etc, etc, and then ultimately make your recommendation.” - Aleksey Chernobelskiy
“Generally, if you see a split that is less favorable than 65 % to LP, you should stop and think. Not that you should pass. You should just understand why this deal is different.” - Aleksey Chernobelskiy
“Distress doesn't happen in a vacuum. Distress typically happens because there's a capital partner that needs to be paid. That can be an equity partner. It can be a private equity partner. It can be a lender. Because of that, you can't ignore the capital structure because your investment is predicated based on returns.” - Aleksey Chernobelskiy
“In distress situations, LP interests, and GP interests tend to diverge.” - Aleksey Chernobelskiy
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Tracy Renna, the Founder and CEO of MH Title Brokers.
One of the most frustrating things in the mobile home park investing realm is trying to get lost mobile home titles. Getting these mobile home titles fixed and in the correct name of the new owner is where Tracy Renna and MH Title brokers can assist.
Tracy Renna founded MH Title Brokers over 4 years ago to specialize in the organization and investigative work required to identify and retrieve mobile home titles. Tracy and her team engage with local DMV offices, legal institutions, and title companies, saving mobile home park owners and investors time and frustration.
In this episode, Andrew and Tracy dive into the topic of sourcing abandoned Mobile Home Titles, not the most glamorous topic, but one that can be an expensive one. They discuss Tracy’s journey and how she founded MH Title Brokers, what you need to know about sourcing abandoned mobile home titles, risks of owning a mobile home, what to do when you can’t find a title or the previous owner of a manufactured home, selling a mobile home without a title, and which states are the most difficult to deal with when it comes to issuing new Mobile Home Titles.
Join us as Tracy Renna shares her wisdom and experience on the in’s and out’s of sourcing abandoned Mobile Home titles in this episode.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:50 - How Andrew Keel met Rod Renna (Tracy’s husband)
03:00 - The start of Tracy Renna’s journey to founding MH Title Brokers
06:40 - What you need to know about Mobile Home Titles to stay out of trouble
11:11 - The risks of owning a Mobile Home
13:30 - Selling a mobile home without the title
17:31 - Hold back between $3-5k when you can’t find a mobile home title or the previous owner
20:45 - Reaching out to Tracy Renna
21:30 - Ask about the POH titles- manufactured home title and bill of sale
22:11 - Top states to avoid because the mobile home titling process is so difficult
24:35 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Email Tracy at info@mh.org
Call Tracy Renna on her direct number at 813-705-7044
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“The other piece that's so important is the issue date on that (Mobile Home) title is if that was current in the state system.” - Tracy Renna
“There are other factors to keep in mind (when considering different criteria about mobile home titles and abandoned titles).” - Tracy Renna
“There is so much that can stem from (mobile home) titles.” - Tracy Renna
“It’s not a glamorous topic but it can be a very expensive one.” - Tracy Renna and Andrew Keel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Jordan Savitsky from 50West Capital.
Jordan Savitsky is the principal of 50West Capital, who acquired their first mobile home park in Canton, OH, in mid-2023. Jordan and 50West Capital have several more mobile home parks in their acquisition pipeline. Based in New York, Jordan Savitsky holds a dual degree in Marketing and Supply Chain Management from the University of Maryland.
Join us on this episode as Jordan Savitsky dives into why he found the mobile home park asset class intriguing, the advantages of owning a storage business, and his approach to acquiring mobile home park investments.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:25 - Stumbling into mobile home parks, and loving it because it’s not sexy
06:20 - Why your second mobile home park deal is the hardest
10:00 - Mobile Home Park Property Management and Utilities
12:50 - Getting educated in Mobile Home Park Investing
14:56 - Discovering that initial mobile home park opportunity, seizing on what's intriguing
17:00 - Aim small, miss small
19:20 - Storage units and tenants
21:30 - Mobile Home Park Operators are important
25:20 - Perfect mobile home parks are different depending on the location
29:00 - Mobile Home Park Operators and Investors with poor intentions
32:45 - Getting in touch with Jordan Savitsky
33:24 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Reach out to Jordan Savitsky at jordan@50westcapital.com
Find Jordan Savitsky on LinkedIn at https://www.linkedin.com/in/jordan-savitsky-64505b23/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“To a degree, you need a little analysis paralysis because, especially when it's your first (mobile home park) deal and you're going to go out and you're going to raise money and you're going to talk to investors, you got to make sure it's right.” - Jordan Savitsky
“You got a whole load of pissed-off tenants because someone came in, jacked up the (mobile home park lot) rent (sometimes by 100% overnight) without even doing any kind of facelift to make the residents feel like they're getting any more value. And then, also, the residents feel like they're just being traded like cattle.” - Jordan Savitsky
“I don't want to just be a guy who owns 30 (mobile home) parks within, you know, 30 miles of each other. I'd like to be sort of more diversified than that.” - Jordan Savitsky
“One of my mentors, he always told me he's like, use the 80 /20 rule. Right. Like if 80 % of it looks good, it's probably a good deal.” - Andrew Keel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Michael O’Conner, the founder and Chief Executive Officer of mPark Partners.
Michael O'Connor, an accomplished entrepreneur and investor, brings a wealth of experience garnered from consulting with Fortune 500 companies and large government entities. He holds a Master's degree in Business Administration, specializing in Finance, Strategy, and Operations from Carnegie Mellon University, complemented by an undergraduate degree in Mechanical Engineering from Pennsylvania State University.
In his role at mPark Partners, Michael has spearheaded the acquisition of eight manufactured housing communities across the United States. He has orchestrated the establishment of on-site management teams to manage these mobile home park communities and off-site teams to provide essential administrative support. Additionally, Michael oversees an affiliated mobile home dealership operating in Delaware, Indiana, Kentucky, and Ohio.
In this episode, Andrew Keel and Michael O’Connor discuss Michael’s Mobile Home Park Investing journey. Michael shares tips on the best ways to get educated on Mobile Home Park Investing and the asset class as a whole. He also discusses his due diligence checklist and how they do a deep dive into septic tank sewer systems before purchasing private sewer mobile home parks.
Join us on this episode as Michael O’Connor shares his valuable knowledge with us from his time in the Mobile Home Park Investing space.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:45 - Michael O’Connor’s early success from passively investing in Mobile Home Parks
04:52 - Getting educated: reading, jumping into podcasts, the Frank and Dave MHU Bootcamp
07:20 - The most important items on Michael O’Connor’s and mPark Partners Mobile Home Park Investing due diligence checklist
11:00 - Mobile Home Park Septic system due diligence specifics
13:05 - Rehabbing and maintaining the park owned mobile homes is the biggest thing
18:16 - Mobile Home park Value-add deals and Michael’s ideal conditions
21:26 - Dealing with troublesome contractors
23:20 - Mobile Home Park Management: remote and overseas workers, and roving on site managers
32:00 - Michael’s definition of a “nice market”
34:53 - One of the great perks about the Mobile Home Park investing market
37:20 - The worst things to do with a Mobile Home Park investment
44:27 - Reaching out to Michael O’Connor and mPark Partners LLC
44:50 - Mobile Home Parks CAN BE a very stable segment to invest in
45:30 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
MPark Partners: https://www.mparkpartners.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“If you're in a market that's charging $150 a month, I don't know if that's enough money for us to really pay our expenses and do very well.” - Michael O'Connor
“The one thing that's nice about this business is I could probably go away for a year and do nothing and come back and the business would be relatively intact.” - Michael O'Connor
“If you let the (Mobile Home Park) tenant base [become] such a low quality that people don't have jobs or have a reliable income (source), that could be a problem.” - Michael O'Connor
“We like to buy brand new homes (Mobile Homes). It's just so much more reliable. They're so much easier to infill than it is to manage and remodel projects.” - Michael O'Connor
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Walter Johnson of Sonos Capital.
Walter Johnson is the founder of Sonos Capital, a real estate investment firm specializing in mobile home park investments nationwide. Walter began his career in finance at Security Mortgage Corporation back in 2004. Established in 2016 in Phoenix, Arizona, Sonos Capital uses unique Section 8 and other uncommon strategies to increase NOI in manufactured housing communities. Walter Johnson also serves on the board of the Manufactured Housing Association in the state of Arizona and leads initiatives for affordable housing in Mesa, Arizona after being appointed by the Mayor himself.
In this episode, Andrew Keel and Walter Johnson dive into various aspects of mobile home park investing, spanning from the market conditions during Walter's early years of investing in Mobile Home Parks to future projections. Walter unveils his unique business model for Sonos Capital and also emphasizes the significance of proper education in the mobile home park asset class. Walter Johnson of Sonos Capital, also shares insights into his personal learning journey within the mobile home park sector.
Walter's clear passion and excitement for the Mobile Home Park Investing industry are evident as he shares valuable knowledge with us from his time in the space.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
02:23 - Never take an opportunity for granted and always be reliable
09:00 - How Walter Johnson used to get Mobile Home Park deals and how he does now
17:11 - Walter’s current mobile home park portfolio and what they’re looking at right now
18:08 - Making a decision on whether or not to buy a Mobile Home Park is the toughest hurdle
19:32 - Higher interest rates don’t necessarily matter
20:45 - Don’t ever think you know more than the mobile home park managers who are there everyday
24:21 - Important things to look for in mobile home park operators and deals
26:54 - Trailer parks versus mobile home parks
27:40 - Walter’s Mobile Home Park buy box and his unique business model
32:53 - Government regulations and legislations aren’t helpful to the mobile home park community
34:56 - Getting in touch with Walter Johnson of Sonos Capital
35:30 - Education in mobile home park investing is important
35:52 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Email Walter at: Walter@sonoscapital.com
Walter’s office: 480-674-2035
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“If you can be reliable, who doesn't want to work with someone reliable?” - Andrew Keel
“I had two rental properties before I bought my place for myself. So I was still living in an apartment building with no furniture.” - Walter Johnson
“We’re social creatures, human beings, and if you can walk a (mobile home) park and say hi to the residents and see that social aspect of it, I think that helps as well.” - Walter Johnson
“I think passive (Mobile Home Park) investors can have some tremendous financial opportunities in this space.” - Walter Johnson
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew Keel interviews Mobile Home Park appraiser and mobile home park owner/ investor, Erik Hanson.
Erik Hanson owns and operates manufactured housing communities in his home state of Wisconsin. His first mobile home park community acquisition was in 2021 and he has been steadily expanding his portfolio since. Alongside mobile home park community ownership, Erik Hanson is a seasoned real estate appraiser, holding the esteemed MAI designation from the Appraisal Institute.
Erik Hanson's journey into commercial real estate appraisals began in 2001, encompassing various property types. However, in 2012, he shifted his focus to specialize in mobile home park properties and RV Park/ Campground valuations. He joined Colliers Valuation & Advisory Services in 2023 and is a member of their Manufactured Housing Community (MHC) valuation team.
In this episode, Andrew Keel and Erik Hanson dive into strategies for Mobile Home Park operators and investors to enhance the value of their trailer parks and streamline the appraisal process. Drawing from his dual roles as an appraiser and mobile home park owner, Erik offers invaluable insights. Their discussion spans topics ranging from mobile home park industry downsides to educational opportunities within the mobile home park asset class, along with how to best identify mobile home park market lot rents.
Tune in for a wealth of knowledge and insights into the mobile home park investing industry!
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:54 - Why Erik Hanson got into trailer park appraisals and real estate investing
07:45 - Getting educated on mobile home parks
11:00 - What to do when you’re looking for Mobile home park mentors
12:33 - Erik Hanson’s appraisal career history and back story
15:11 - Mobile Home Park market Lot rents
21:49 - Mobile Home Park Cap rate premiums from a valuation standpoint (direct billed utilities?)
26:00 - What we don’t know about the Mobile Home Park appraisal process
33:30 - Mobile Home Park Investing: Park-owned homes vs. tenant owned homes
34:30 - Increasing the value of your Mobile Home Park
37:00 - The most challenging parts of the Mobile Home Park appraisal process
38:20 - What happens when Mobile Home Park owners aren’t transparent with appraisers
40:50 - Erik Hanson’s mobile home park investment portfolio
44:16 - Mobile Home Park Investing Lightning Round Q&A:
- Your first mobile Home Park Investing Deal
- Cluster in geographic areas
- Being too lenient on Mobile Home Park Tenants
- Mobile Home park Operator qualities
- Be prepared to explain everything
- Mobile Home Park Appraisal quirks
- Erik’s perfect Mobile Home Park looks like this
- Raising mobile home park lot rents
52:18 - Getting a hold of Erik Hanson
53:00 - Getting comfortable with the Mobile Home Park asset class
53:51 - Conclusion
Links & Mentions from This Episode:
Erik Hanson’s LinkedIn: https://www.linkedin.com/in/erik-hanson-a5674b4/
Colliers Valuation and Advisory: https://www.colliers.com/en/services/valuation-advisory
MHU Investing Forum: https://forum.mobilehomeuniversity.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“Overall talking to different owners and operators has been by far the most beneficial (to learning about mobile home parks).” - Erik Hanson
“The (Mobile Home) parks look so much better with a brand new road or newer roads that were just seal-coded, just totally changing the perspective of the (Mobile Home) park.” - Erik Hanson
“I don't think anybody really wants to be the market (rents) leader, but what's that gap between the market leader and what's historically been charged, and that's definitely a fine line.” - Erik Hanson
“The farther we get out in the future, the harder it is to project where the(Mobile Home Park) market is going to be at.” - Erik Hanson
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew Keel interviews Mobile Home Park Investing Educator Frank Rolfe of Mobile Home University (MHU). This is an interview from March 2024, which is Frank Rolfe’s second time on the show.
Frank Rolfe has been a mobile home park investor for nearly two decades and has operated hundreds of mobile home parks alongside his partner Dave Reynolds. Currently ranked as the 5th largest mobile home park owner in the U.S., their portfolio boasts over 250 mobile home parks across 25 states and over 10,000 lots! It all started with Glenhaven mobile home park, a single trailer park in Dallas, Texas. Success there propelled Frank to acquire more mobile home parks, focusing on prime locations with management challenges.
Believing in mobile home parks as hubs of affordable housing, Frank began sharing his insights through writing. Together with Dave Reynolds, their books evolved into leading courses and boot camps on mobile home park investing. Drawing from their own experiences, they've trained countless Mobile Home Park investors, finding fulfillment in seeing others succeed in the mobile home park asset class where they once struggled to get educated as newbie beginners in the space.
Frank Rolfe was a previous guest on the show in February 2021 (Ep. 40) and in this new episode in March 2024, Andrew and Frank explore various Mobile Home Park Investing topics, from rent control to debt management, financing strategies and mobile home park industry trends. Frank shares his perspective on the evolving mobile home park investing landscape and offers advice on navigating the current challenges in mobile home park investing. He also discusses his outlook on America's increasing debt, providing valuable insights for listeners on the economy as a whole.
Tune in for practical tips, valuable lessons, and engaging stories from one of the leading experts in the mobile home park investing industry: Frank Rolfe.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:40 - Frank Rolfe’s latest business ventures and current mobile home park portfolio
05:00 - Increased demand for mobile home parks and the addition of virtual and AI advances in the mobile home park industry
07:26 - Mobile Home Parks and Rent control
10:45 - The right of first refusal for tenants in mobile home park deals
13:00 - Artificial intelligence tech and new tricks for marketing and managing mobile home parks
16:00 - Overpaying for a mobile home park, not properly conducting due diligence, not following tried-and-true systems
18:00 - The problem with buying a mobile home park at a low cap rate
22:30 - Traditional mobile home park lenders vs Hard money lenders, and bridge debt
25:50 - Conduit loans/ CMBS (Commercial mortgage-backed security) debt versus Agency debt via Fannie Mae and Freddie Mac
33:00 - Mobile Home Park occupancy fails
39:50 - Updating your schedule of real estate owned for mobile home park operators
42:30 - Looking at the track record of your mobile home park deal sponsor
44:00 - Park-owned mobile homes and rental homes
52:00 - Dystopian future because of debt
56:00 - Live Deal Review: Ohio mobile home park
01:03:00 - The positive impact of MHU (mobile home university)
01:09:20 - Getting a hold of Frank Rolfe
01:09:47 - Conclusion
Links & Mentions from This Episode:
MHU: https://www.mobilehomeuniversity.com/index.php
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“Rent control is a crippling feature because most mobile home parks today are, let's be honest, 50% of where they're supposed to be on rent.” - Frank Rolfe
“You’ve got to take control of your phones. You can't let the managers run wild these days and not know exactly what's going on.” - Frank Rolfe
“Diligence is key.” - Frank Rolfe
“You need to start working about a year ahead at least on your renewals. If the bank says no, you have time to get another bank.” - Frank Rolfe on mobile home park financing term defaults
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode we're revisiting a gem from our podcast archives: the 2021 interview Andrew did with the mobile home park investing legend Frank Rolfe of Mobile Home University (MHU).
We have another interview with Frank Rolfe coming up soon in 2024 so this is a good episode to re-listen to so we can measure what has changed in the mobile home park investing world since the “peak” as some call it back in 2021!
In this highly recommended and popular episode, Frank Rolfe generously shared his wealth of experience in the mobile home park investing world. We discussed Frank’s background, his future projections for the asset class and the market dynamics shaping the mobile home park investing landscape at the time in 2021. Frank's foresight, even back in 2021, is remarkable, particularly considering the subsequent surge in interest rates we’ve had from the Fed since then. His discussion on interest rates, inflation and their impact on Mobile Home Parks were mostly accurate.
One of the key takeaways from this show was Frank Rolfe’s invaluable insight into the historical challenges faced by those in the Mobile Home Park asset class, notably during the tumultuous 1990’s Chattel loan crisis. Through his narrative, listeners gain a deeper appreciation for the resilience of Mobile Home Park investments and the lessons learned from past adversities.
Join us for this replay episode as we uncover Frank Rolfe's strategies for successful Mobile Home Park investing, and tap into the wealth of knowledge he graciously shared with us back in February 2021.
This episode is a must-listen for anyone looking to navigate the complexities of Mobile Home Park investments.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
03:06 - Frank Rolfe’s background and how he got into manufactured housing community investing
05:01 - Glenhaven in Dallas, TX (his first mobile home park)
06:09 - Important things passive investors need to know about investing in mobile home parks
07:21 - Value Add versus Stabilized Play
12:04 - Secondary markets and tertiary markets during downturns
15:16 - COVID and his mobile home park investing portfolio
18:26 - Current state in the market cycle
22:01 - Difference in the market from the 1990’s
24:31 - Most difficult time in the business within the last 20 years
29:42 - More about 2006
30:16 - Mobile home park performance during inflationary periods
35:36 - Current events, the US dollar and the reserve currency
40:41 - How a $15 minimum wage will affect mobile home park investments
44:31 - Getting a hold of Frank Rolfe
45:36 - Conclusion
Links & Mentions from This Episode:
MHU website: https://www.mobilehomeuniversity.com/
Frank Rolfe LInkedIn: https://www.linkedin.com/in/frank-rolfe-0b6a7024/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“The cable bill was $2,000 something a month and so I just turned it off. That's how I solved the $2,000 and then I got a humongous break on the revenue because I had half of the lots to fill. They shut another mobile home park down in Dallas downtown. I went to the owner of the park and we cut a deal because he had to get the trailers moved out as part of his agreement with Dallas to resell it to build a home depot.” - Frank Rolfe
“The key drivers of mobile home parks are pretty simple. They’re a very simple business model. Into some of the parts, I put in the acronym of IDEAL.” - Frank Rolfe
“We're all at the mercy of interest rates and right now, people are buying a lot of low cap rates because interest rates are insanely low. I think they will remain insanely low.” - Frank Rolfe
“We saw really no impact from COVID at all. Our business model is deemed essential. Our businesses were not shut down. We had to adapt to office requirements. We have to be more socially distant. In some states, we have to close the office. We could be open but we cannot allow anyone in- which is awkward, but it really wasn't that big of a deal..” - Frank Rolfe
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew interviews Cory Harelson, a dedicated mobile home park operator and visionary founder of Freedom Investing Group (FIG).
Cory left behind an 18-year career as a structural engineer to leap into mobile home park investing. He now has a portfolio worth over $18M+ across 12 communities and he has already been through 5 mobile home park deal exits! The reach of his mobile home park portfolio extends from Idaho all the way down to Ohio with a focus now on the “bourbon triangle,” as he puts it, in the markets of Cincinnati, Lexington, and Louisville. He is also currently under contract on a new hopeful mobile home park acquisition in Kentucky.
In this episode, Andrew Keel and Cory Harelson delve into Cory's swift success in Mobile Home Park (MHP) investing, tracing his journey all the way back to his first Mobile Home Park deal in Garden City, Idaho. They discuss Cory’s current dedication to growing his Mobile Home Park and RV syndication business and platform through his Linkedin and other marketing channels. Cory candidly shares the mistakes he's made and his refined investment strategy, highlighting three key considerations for aspiring Mobile Home Park investors. He also recommends valuable resources for mastering the asset class and explains why Mobile Home Parks offer unparalleled opportunities for financial freedom.
Since July 2023, Cory Harelson has been fervently expanding his mobile home park syndication business, driven by his passion for empowering others in the realm of Passive Mobile Home Park investing. He offers listeners valuable insights (golden nuggets) from lessons he has learned along the way.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:00 - Cory Harelson’s mobile home park portfolio and background
06:00 - Cory Harelson’s first Mobile Home Park deal in Garden City, Idaho
08:00 - Mistakes Cory made on Mobile Home Park acquisitions and getting real replacement cost numbers for insurance policies instead of using the values on appraisals for Mobile Home Park insurance
15:00 - Finding good Mobile Home Park deals and operators
18:15 - Cory Harelson’s current Mobile Home Park portfolio
20:55 - Cory Harelson’s current Mobile Home Park investing strategy
26:25 - Lot rent increases and bringing in capital for improvements to your Mobile Home Park investment
28:37 - Three things to look at if you want to invest in Mobile Home Parks
31:39 - Finding a great Mobile Home Park location with value that needs to be added
33:00 - The magic sauce in Mobile Home Park investing
35:00 - Don’t ignore the Mobile Home Park infrastructure and capital required to add value
36:39 - Popularity in the world of Mobile Home Park investing
37:45 - Reaching out to Cory Harelson, contact Cory
38:20 - Passive investing into mobile home parks is a double-win
38:56 - Conclusion
Links & Mentions from This Episode:
Freedom Financial: https://freedominvestinggroup.com/
Email Cory at cory@freedomcm.net
Cory Harelson’s LinkedIn page: https://www.linkedin.com/in/cory-harelson-81141414/
MHP IDEAL Analysis Tool Link: https://freedominvestinggroup.com/mobile-home-park-deal-analyzer/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“Everybody knows it's hard to find good deals. I mean, it certainly is. There's a lot of work there that goes into finding good deals. But I think the (mobile home park) operations is probably the biggest (toughest hurdle) one.” - Cory Harelson
“We are looking at bigger (Mobile Home Parks) parks, definitely. So for our current metric, we're targeting 50 lots and bigger, unless it's right next door to one that we already own, then we'll go down below that a little bit.” - Cory Harelson
“I like value add as long as it's priced so that we can afford to bring in the capital to do the value add.” - Cory Harelson
“I like that because it's affordable housing, and it's actually affordable, it doesn't need section eight subsidies for people to afford it. People can actually afford it on minimum wage salaries.” - Cory Harelson
“I don't feel like we're as impacted (mobile home park market) by the ups and the downs of the (residential) housing market.” - Cory Harelson
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew interviews Nick Chapman, Principal and CEO of South-East Family Housing.
Nick Chapman, a former US Marine and State Trooper, ventured into mobile home park brokerage at Marcus and Millichap and then quickly became a commercial real estate investor himself. He started investing in 2021 by acquiring a 26-unit apartment complex, converting all units into "mid-term rentals" for traveling nurses and corporate clients. Nick actively manages the complex and discusses his hurdles as the sole “sweat equity” partner and General Partner, while pursuing mobile home parks for future acquisitions.
In today's conversation, Andrew Keel and Nick Chapman cover various topics including why studio apartments are less desirable, contrarian thinking, the significance of Self-managing commercial Real Estate Assets, the importance of your Website and SEO, Nick's preferred resources for Real Estate Self Education and passive Mobile Home Park Investing tips.
Nick is eager to share his knowledge on mobile home parks with interested limited partners (LP’s) and anyone interested in the mobile home park asset class. While he may lack the experience of some other guests, Nick compensates with the valuable lessons, mistakes and golden investment information he has learned over the past few years as a GP, all of which he shares with us today.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:00 - Nick Chapman’s background and journey into the Mobile Home Park investing world
17:23 - Resources, references, and books
20:31 - Nick Chapman’s first Commercial Real Estate deal
26:00 - The 80-20 rule
26:41 - Self-managing Real Estate assets
31:41 - Studio apartments and Nick’s case study
38:13 - GP’s that communicate quickly and efficiently
41:15 - SEO tips and optimizing keywords
46:00 - Nick’s perfect mobile home park
48:45 - Reaching out to Nick Chapman
49:38 - Underwrite a Mobile Home Park deal like the bank does
Links & Mentions from This Episode:
Nick Chapman’s LinkedIn: https://www.linkedin.com/in/businesswithnick/
Nick Chapman website: https://ibuyhouseswilmington.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“Warren Buffett talks a lot about intrinsic value. What’s the highest and best use for that property.” - Nick Chapman
“For those of you getting started or LPs, you always wanna make sure that the deal is big enough to support management.” - Nick Chapman
“The whole name of the game is (sticky tenants) longevity in real estate, and that's why (mobile home) parks are so great, is to keep the tenant as long as possible.” - Nick Chapman
“Studios are not good for longevity.” - Nick Chapman
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew interviews Roger King, founder of Kings Unlimited LLC.
Roger King operates a multifaceted real estate portfolio exceeding $50 million in asset value, strategically spread out across 13 states throughout the United States. Notably, his main focus is on fixing up and investing in mobile home parks.
In this episode, Andrew Keel and Roger King explore the importance of avoiding analysis paralysis and embracing calculated risks for substantial success in mobile home park investing. They discuss and emphasize the necessity of taking chances to achieve significant (above market average) returns. Additionally, they dive into their mobile home park investing deal criteria, with Andrew setting a threshold of above 50 lots and access to public utilities within 40 minutes of a metropolitan statistical area (MSA) and a population of at least 50,000. Roger, on the other hand, discusses his preference for properties at least hovering around 60% occupancy to ensure cash flow from day one.
Roger King shares pearls of wisdom detailing his proven model and strategy for mobile home park investing, along with insights from his 27 year real estate investing journey. Through his experience, listeners will gain valuable insights into the actions that have propelled Roger to success in mobile home park investing, affording him the luxury of reaping rewards while unwinding on the beaches of Puerto Rico where he lives for the tax benefits(which they talk about) and lifestyle preference.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:26 - Roger King’s journey into manufactured housing community investing
03:50 - Living in Puerto Rico and the tax benefits for real estate investors
09:20 - Roger King’s first mobile home park investment deal
13:00 - Finding the right people within the mobile home park asset class
16:38 - Getting mobile home park deals done while interest rates are high
21:44 - Roger’s current mobile home park investing criteria and mobile home park investing strategy
27:45 - Understanding what the ethics are of a mobile home park general partner
30:50 - Bite-sized mistakes made when investing in mobile home parks
32:36 - Roger’s perfect Mobile Home Park
33:00 - Interest rates will start to drop and mobile home park prices will increase??
36:48 - The rough mobile home park communities are deteriorating
39:00 - Getting a hold of Roger King of Kings Unlimited LLC
40:31 - Get into this particular sector: mobile home park investments rock!
42:11 - Conclusion
Links & Mentions from This Episode:
Roger King: https://www.rogerking.com/
Roger King’s FB page: https://www.facebook.com/rogerkingrealestate1
Roger King on Instagram: https://www.instagram.com/therealrogerking/
Connect with Roger on LinkedIn: https://www.linkedin.com/in/therealrogerking/?originalSubdomain=pr
Check out Roger’s YouTube videos: https://www.youtube.com/@therealrogerking
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“The toughest hurdle, I would say right now, and I believe it's changed, is if you're buying a (mobile home) park and your intention is to fix it up, reposition it, like the majority of our work is, are the contractors and pricing materials.” - Roger King
“We're getting much more discerning with those experiences. We've got a good (mobile home) park, we've had a not so good park, we've had some small parks, we've had some big parks.” - Roger King
“Passive investing isn’t fully passive.” - Roger King
“The specifics for the manager has to get ironed out on Day -10.” - Roger King
“The onsite manager can make or break the deal.” - Andrew Keel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew interviews Frank Rizzo, co-founder of Stone Capital Investors and the MHP Exchange.
Frank Rizzo has over 20 years of experience in real estate as a broker, owner, and syndicator. For the past decade, he has been active within the Mobile Home Park asset class, acquiring and re-positioning over 20 mobile home park communities and over 1,500 lots. Frank has previously been elected to serve his local real estate board as director and later served as President of the Staten Island Board of Realtors. Frank Rizzo is also the host of the MHP Exchange Podcast.
In this episode, Andrew Keel and Frank Rizzo delve into Frank’s distinctive business model within the Mobile Home Park realm, characterized by substantial VALUE-ADD components. Since embarking on this path in 2013, Frank has thrived in the mobile home park industry, crafting vibrant communities from trailer trash beginnings, cultivating a strong organizational culture, and ensuring the discovery and retention of ideal on-site managers. His journey in mobile home park investing has been rich with learning experiences and invaluable lessons, many of which he shares with listeners today.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
00:50 - Frank Rizzo’s background and journey into the Mobile Home Park asset class
04:00 - Learning how to operate a mobile home park from a distance, remote management
06:08 - Frank Rizzo’s first mobile home park deal and buying Mobile Home Parks in 2013
09:15 - The importance of culture and maintaining mobile home park community rules
13:00 - Building roads and deep value-add situations within mobile home park investments
16:00 - Getting comfortable with the variables when investing in mobile home parks remotely
23:18 - Frank’s unique mobile home park investing model
27:00 - Quality mobile home park managers
31:00 - Lightning round questions
36:00 - Getting a hold of Frank Rizzo
37:40 - Look at your business plan- mobile home park investing
40:00 - Conclusion
Links & Mentions from This Episode:
Stone Cap Investors: https://stonecapinv.com/
The MHP Exchange: https://themhpexchange.com/
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“I always tell people there are just two great days. Your favorite day is the day you close on a new deal. It's like you're super excited. The next best day is the day you're doing the roads.” - Frank Rizzo
“We like to go in there knowing that we're adding value, and taking on projects that maybe a lot of other operators would shy away from.” - Frank Rizzo
“If you do proper due diligence, you can avoid it. But with private utilities, you're opening up Pandora's box for all these things that could potentially go wrong.” - Andrew Keel
“If they feel that attachment, they'll stay. If they don't feel that attachment, and are willing to, they will leave.” - Frank Rizzo
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. We have some exciting news to share with you! Starting this month, we'll be re-releasing some of our most popular episodes. Our first re-release episode is this one featuring my interview with Brad Rymer, the Former CFO of RV Horizons.
Brad Rymer is currently the Fund Manager, CIO and CFO at Haven Park Ventures, Inc.
There were a lot of golden nuggets in this episode, including: The Most Common Mistakes Found in Mobile Home Park Financials!
Brad Rymer shared the most valuable lessons he learned while he was the CFO of RV Horizons (The Frank Rolfe and Dave Reynolds mobile home park fund) and the lessons he learned about mobile home parks that all operators and investors should know. Brad also discussed his ideal business models for mobile home park investing, what data analytics to watch out for and tips for newbies getting into the manufactured housing community business.
Brad Rymer is currently president and co-founder of Cloverleaf Capital Group, a mobile home park loan brokerage firm, based out of Denver Colorado, that specializes in loans under a million dollars. Before his current role, Brad served as the CFO of RV Horizons, where, in 2018, he also served as the company's Business Intelligence Officer, amongst other responsibilities.
Brad received an MBA from Regis University and a BA in Fine Arts from Wabash College and began his real estate career with Marcus & Millichap in 2000 as a specialist in sales and marketing.
Tune in for a treasure trove of knowledge as Brad Rymer unveils his secrets for successful mobile home park investing!
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
01:20 - Welcome to the Passive Mobile Home Park Investing Podcast
03:15 - Brad Rymer’s journey into manufactured housing communities
06:27 - The most important things passive investors need to look out for when investing in mobile home parks
08:00 - Common mistakes on mobile home park financials that people should look out for
11:00 - The most valuable lessons Brad Rymer learned from his time as CFO at RV Horizons
13:05 - Lessons about mobile home parks which operators and investors should know
16:00 - Which models performed better over Brad’s time as CFO
23:00 - The analytics and data in mobile home parks
27:00 - The hurdles that the manufactured housing community industry faces moving forward
30:40 - What happened in the multi-family sector
32:44 - How a $15 minimum wage would affect the industry
34:55 - Brad’s perfect mobile home park
35:41 - The value proposition at Cloverleaf Capital Group
39:00 - Brad’s last tip for operators and investors
41:30 - Getting a hold of Brad Rymer
42:12 - Conclusion
Links & Mentions from This Episode:
Haven Capital Ventures: https://www.havencapitalventures.com/
Cloverleaf, LinkedIn: https://www.linkedin.com/company/cloverleaf-cap ital-group/
Brad’s phone number at Cloverleaf: (303) 525-4850
Brad Rymer LinkedIn page: https://www.linkedin.com/in/bradprymer/
Brad’s email address: brad@cloverleafcapitalgroup.com
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“Because they are passive investors, they're there hoping that their money gets turned into the returns that they've been seeking and beyond.” - Brad Rymer
“We are getting into the era where mobile home communities are no longer one of those ‘children left behind,’ right? One of those ‘soldiers left behind.’ It is now in the forefront.” - Brad Rymer
“I started to understand the mechanics of it and learned the basics, but I didn't know the true science of it until I joined with Dave and Frank.” - Brad Rymer
“What other factors come into play to assess and analyze what a community can be worth, what you're buying it at, and what your strategy is gonna be down the road?” - Brad Rymer
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew interviews a previous guest on the show, Mr. Jeff Cook, the CEO of Cook Properties NY, the largest owner and operator of manufactured housing communities in New York state.
Jeff Cook's career began as a project manager at a market research firm before venturing into real estate by acquiring multi-family properties in Rochester, NY starting in 1997. In 2008, he expanded into purchasing his first manufactured housing community. Since then, Cook Properties has experienced remarkable growth, boasting a mobile home park portfolio of over 100 communities comprising 7,000+ lots.
In this episode, Andrew and Jeff Cook reconnect to explore Jeff’s recent endeavors since his last appearance on the show. They delve into his remarkable scaling strategies in today’s market and discuss the mobile home park industry’s future outlook. Jeff also shares his insightful approach to building a team from scratch, offering a wealth of knowledge for aspiring, emerging, and experienced passive mobile home park investors alike.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
03:54 - Scaling a team and growing pains
06:54 - Finding the perfect Manufactured Housing community Acquisitions and Management team
08:50 - Mobile Home Park acquisitions and the growth of Cook Properties
11:24 - Mobile Home Park evictions and rent control in New York State
15:50 - Pivoting in the current Mobile Home Park market
18:30 - Staffing appropriately if you’re going to scale up in the mobile home park asset class
21:52 - Raising capital quickly
23:56 - How were mistakes addressed?
26:00 - Mobile Home Parks can cash flow well, if managed right
28:53 - Ground-up Mobile Home Park development
36:00 - Being good stewards of the Mobile Home Park Industry and making the right decisions
37:31 - Getting a hold of Jeff Cook of Cook Properties
38:02 - Conclusion
Links & Mentions from This Episode:
Jeffery’s email: jeffcook@cookproperties.com
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“I never cease to be amazed about some of the things that I see, not only in our parks, but with our own employees and with our team.” - Jeff Cook
“Interest rates have definitely been difficult the past couple years.” - Jeff Cook
“Check bank account statements to check the payout: is what's coming in what the seller says is coming in.” - Jeff Cook
“Always over-raise, have an extra budget.” - Jeff Cook
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew interviews Zach Dixon from Green River Capital Partners.
Zach Dixon bought his first rental property in 2017 and since then he and his wife, Rachel, have acquired 300+ mobile home park lots.
In this episode, Zach and Andrew dive into many golden nuggets on mobile home park investing, including: the nuances of mobile home rehabs and point out that while manufactured homes may be simply built, it doesn't mean replacing mobile home parts is a simple process.
Zach talks about how starting small in mobile home park investing isn’t a bad thing, his theories on renovating mobile homes and why it is important to make sure that the numbers make sense. Zach also shares with us what he feels is the most important aspect mobile home park owners should address in maintaining a mobile home.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:15 - Small goals lead to big outcomes
04:43 - Tenancy, community, and maintenance in mobile home parks
07:40 - The struggle of financing smaller mobile home parks
09:30 - Putting mobile home park deals together
14:00 - Education in the mobile home park industry and mistakes made within due diligence processes
18:00 - Demand, mobile home park tenant base, and trust
24:45 - City utilities and city-maintained streets
25:40 - Do the numbers make sense to you?
28:00 - Renovation of mobile homes
31:00 - Reaching out to Zach Dixon
31:21 - Conclusion
Links & Mentions from This Episode: Green River Capital Partners Instagram: https://www.instagram.com/greenrivercapital/?hl=en
Zach Dixon’s business email: greenrivercapitalpartners@gmail.com
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes: “You get peace of mind and the true mailbox money, if you will, so there are tons of benefits in [passively] investing.” - Zach Dixon
“I bought six parks myself this year that I syndicated, but I've also invested in five passively because I like to put the money to work. If I trust the operator and I like the deal, I like that (investing passively) because it's a lot of work.” - Andrew Keel
“No matter what the market's doing, we just need the numbers to make sense to us and look at all the worst-case scenarios financially, and we'll still buy.” - Zach Dixon
“Mobile homes are simply built but they have nuances to it.” - Andrew Keel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew is joined by Scott MacNeil, Chairman and Chief Executive Officer of Performance Equity Partners, Inc. (PEP Lending), a chattel lender serving the manufactured housing industry across 16 different states.
In this episode, Andrew and Scott discuss Performance Equity Partners (PEP) in detail, from default rates and recourse guarantees, to the trends in the manufactured housing chattel lending industry.
Scott MacNeil and his team at Performance Equity Partners are experts in the chattel lending industry and they have processed over $160 million in MH chattel lending contracts. In addition, Scott has a keen interest and a wealth of knowledge in the passive mobile home park investing arena, which he shares with us today.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see value-add mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:38 - Scott MacNeil’s journey into manufactured housing chattel lending
03:26 - How chattel lending has changed since 2007
06:00 - The approval rate of Performance Equity Partners (PEP lending)
09:50 - Why Performance Equity Partners might be a good choice for you
11:50 - Current rates and values on mobile homes
15:00 - Default rates and recourse guarantees
17:53 - The Performance Equity Partners process for qualifying new applicants
22:43 - Investment strategies: What’s your return?
24:00 - The mobile home park industry in the state of Illinois
26:00 - Reaching out to Scott MacNeil or Performance Equity Partners (PEP Lending)
26:25 - Conclusion
Links & Mentions from This Episode: PEP Lending website: https://peplending.com/
Scott MacNeil’s phone:708-253-6010
Keel Team’s official website: https://www.keelteam.com/
Andrew Keel’s official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes: “If you're going on evenly and moving along, maybe it's a two or three-year infill project, then you're playing the percentages and the averages should work out in everybody's favor.” - Scott MacNeil
“We’re the absolute best solution for mobile home park-owned homes and selling off any sort of mobile home inventory you have in your community.” - Scott MacNeil
“We don’t use appraisals. So mobile home park community owners can price the units however they like. The borrower just has to be able to afford to repay the loan based on the rate and terms.” - Scott MacNeil
“We try to make it as easy as possible. Our loan officers are trained to chase as much paper as they can and do as much as they can, so the owners of the mobile home parks can leverage our people and not have to hire their own people.” - Scott MacNeil
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Mobile Home Park Sales Broker Maxwell Baker of The MHP Broker
Maxwell Baker founded The MHP Broker in 2009, as a commercial real estate brokerage firm specializing in helping investors purchase and sell mobile home communities with a specialty in the Southeastern United States.
Maxwell has been a part of the management, rehabilitation, and sales of mobile homes parks since his family purchased their first trailer park in 2000. In today's episode, Maxwell Baker and Andrew Keel discuss the current mobile home park investment sales market, mobile home park investing during the 2009 recession, the real estate market during election years and the importance of finding the right partners when investing in mobile home parks.
Maxwell is passionate about the real estate industry, specifically the mobile home park asset class and he is well-versed in mobile home park market trends, the latest news, and mobile home park community affairs. Today he shares his wisdom with us.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:44 - Maxwell Baker’s story and journey into the Mobile Home Park industry
07:43 - Max’s current Mobile Home Park investment portfolio
10:54 - Mobile Home Park investing during the 2009 recession
14:14 - The current Mobile Home Park investment sales market as of December 2023
20:51 - Election years in the real estate industry- 2024
23:53 - The toughest hurdle in mobile home park ownership and investing: In-house management and staff
25:20 - Finding the right business partners when investing in mobile home parks
28:08 - The management of variables: debt, park-owned mobile homes verses tenant owned homes, and county restrictions
31:48 - Connect with Max Baker, contact info
33:57 - Conclusion
Links & Mentions from This Episode:
The MHP Broker website: https://themhpbroker.com/
MHP Broker email: info@themhpbroker.com
MHP Broker phone number: 678-932-0200
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Quotes:
“If you don’t have your paperwork right, you ain’t got a deal.” - Maxwell Baker
“Every deal is different.” - Maxwell Baker
“We try to do a lot of upfront due diligence because surprises kill deals, problems don't.” - Maxwell Baker
“At the end of the day, we're always trying to look out for the seller.” - Maxwell Baker
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew reconnects with a previous guest on the show, Alex Donnolo of Mavdon Investments.
Alex Donnolo is the founder of Mavdon Investments, founded in 2019 and owns a $15 million portfolio of commercial real estate totaling over 600 units with a specialty in mobile home parks and RV parks.
In this episode, Andrew and Alex discuss Alex’s unique strategies for investing in real estate, his in house property management team and how he acquires mobile home park investments. They also talk about infill, the benefits of tenant owned homes versus park owned homes and the metrics Alex uses when investing in a mobile home park.
With his background in commercial real estate and his keen eye for a good mobile home park investing deal, Alex shares with listeners why he feels smaller is sometimes better.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:00 - Alex Donnolo’s background and journey into mobile home park and RV park investing
05:55 - Keeping everything as simple as possible
12:20 - Buying smaller mobile home park investments
19:25 - Properly inspecting mobile home park utilities
21:07 - How to replenish capital
22:45 - Mobile home park investors, taxes, and due diligence
27:18 - Alex’s perfect mobile home park
31:07 - Aging mobile homes and “grandfathered-in” mobile home parks
33:19 - Reaching out to Alex Donnolo
33:38 - Conclusion
Resources/Links:
Alex’s website: https://www.alexdonnolo.com/
Alex’s instagram: https://www.instagram.com/alexdonnolo
SUBSCRIBE TO THE PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL
https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“For me, it's easier to take sort of a small development or acquisition fee, like a $25 ,000 acquisition fee and do four deals a month or three deals a month kind of deal, then try and bank everything on one big project.” - Alex Donnolo
“We've hit our exits on these and sometimes we just need to sell. Rather than refinance, we sell.” - Alex Donnolo
“It's so easy to just pick up wholesaler wholesale deals work with those guys I get pocket list things from brokers.” - Alex Donnolo
“The small amenities matter.” - Alex Donnolo
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with a special guest, Shawn Dwyer of Golden Oak REI.
Shawn Dwyer has 19 years experience as a tech executive for a Fortune Top 30 Corporation and owns an 87 lot mobile home park in Maryland, which he bought in September 2022.
Although Shawn is fairly new to the Mobile Home Park industry, he offers a fresh and unique perspective. In this episode of the Passive Mobile Home Park Investing Podcast, Shawn Dwyer and Andrew chat about the hurdles, lessons and experiences that Shawn has faced within his first mobile home park investment venture over the last year. Shawn also talks about how he missed out on his “Unicorn mobile home park property,” how he sourced and acquired his first mobile home park by partnering with an experienced operator, and what he thinks will happen to the Mobile Home Park asset class in the near future.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
00:46 - Shawn Dwyer’s story and how he got into Mobile Home Park investing
03:51 - Leadership qualities needed for working in mobile home parks
06:37 - The acquisition of his 1st mobile home park investment
08:34 - Lessons learned from his first mobile home park and his future plans with Mobile Home Park investing
11:55 - Shawn’s mobile home park investing strategy
14:17 - Lessons learned in regards to mobile home park utilities
16:53 - Infill on vacant mobile home park lots and finding MHP contractors
19:53 - The affordability of housing and Mobile Homes as a solution?
23:03 - Funding equity & finding partners when investing in mobile home parks
25:27 - Tips for mobile home park syndication deals
26:43 - Unicorn properties, Shawn’s perfect mobile home park looks like this
29:34 - How large lot rent increases can hurt a mobile home park community
31:00 - The importance of staying educated in the mobile home park industry
32:30 - Reaching out to Shawn Dwyer (mobile home park investor)
32:47 - Conclusion
Links & Mentions from This Episode:
Golden Oak REI: https://goldenoakrei.com/
“The Mobile Home Park Manifesto” by Glenn Esterson, The MHP Expert: https://www.themhpexpert.com/buy-the-book-the-mhp-manifesto/
“Trailer Cash: How To Cash in On the Low-Income Housing Investment Boom” by Jamie Smith: https://www.amazon.com/Trailer-Cash-Low-Income-Housing-Investment/dp/193524535X
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's personal website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Passive Mobile Home Park Investing Podcast Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Passive mobile home park investing podcast Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“For myself, it's looking for more of those stabilized deals with a little bit of value add capability, whether it be rent increases, utility bill backs, moving in some additional homes, doing some upgrades.” - Shawn Dwyer
“We checked with water operators ahead of time, as well as the power company and the community in the area very infrequently loses power. So as of right now, there's not much risk.” - Shawn Dwyer
“The affordability factor is real. Your service workers, where are they going to live?” - Shawn Dwyer
“Know what the area looks like. Do your due diligence to understand what that area looks like for not only growth, jobs, but what sort of housing options are out there for folks.” - Shawn Dwyer
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew interviews one of America’s largest mobile home park operators, and one of his mentors in Mr. Jefferson Lilly from Park Avenue Partners.
Jefferson is a mobile home park investing expert and educator. He is the General Partner at Park Avenue Partners and has acquired over 43 mobile home parks across 15 states since 2007, totaling over $81 million in asset value. Jefferson started the mobile home park industry’s first podcast and the largest group on LinkedIn dedicated to investing in mobile home parks. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business.
Jefferson was also a speaker at the SECO conference for mobile home park community owners, back in September and he had a couple of great sessions including one on valuing mobile home parks in 2023.
Jefferson is back on the show after almost 3 years since our previous recording with him on episode #33 and in this episode Jefferson discusses with Andrew how his current mobile home park portfolio is performing, agency debt versus CMBS financing, and he shares a couple of golden nuggets, tips and advice, for new mobile home park investors.
We are fortunate to have Jefferson Lilly share his expertise with us on today's show!
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:06 - Introduction to Jefferson Lilly
02:09 - The rise in interest rates
04:38 - Assuming agency debt for a loan when purchasing a mobile home park
09:00 - CMBS vs agency debt
13:42 - Jefferson’s journey into the Mobile home park industry
16:02 - Jefferson’s current mobile home park portfolio
18:00 - Mobile Home Park team members and managers
23:55 - Due Diligence: Outreach and test ads
24:57 - Scaling and prioritizing for your mobile home park business
30:31 - Jefferson’s perfect mobile home park
32:17 - Resources for new mobile home park investors
33:35 - The Mobile Home Park Investors Podcast
34:50 - Mobile Home Parks and their recession resilience
37:46 - Do your homework and jump in
38:50 - Reaching out to Jefferson Lilly
39:56 - Conclusion
Links & Mentions from This Episode:
Park Avenue Investors: https://www.parkavenuepartners.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“So the agencies have standards. [laughs] We do always try and get agency debt. We've looked a little bit about trying to get the really cheap debt, which is direct from an insurance company.” - Jefferson Lilly
“I guess mobile home parks are multifamily and would have, you know, stable site income. And if they're cheaper, I don't know, why wouldn't I buy one?” - Jefferson Lilly
“I got into the business too late. When I did get into it, I took too long to scale up basically to start raising outside capital.” - Jefferson Lilly
“At some point you do your homework and at some point you've got to just kind of jump in and make a decision again whether it's to buy a park or to invest in a fund.” - Jefferson Lilly
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Jose Garcia, famously known as THE TRAILER PARK KING on Instagram, he is the best-selling author of 'Trailer Park King: How to Become the Next Mobile Home Millionaire.’
Jose is a successful mobile home investor, Lonnie dealer, coach and mentor who started out with single mobile home investments and has since done over 500 profitable mobile home flip transactions within the last 7 years. He currently covers the Southeastern United States and plans on expanding his Trailer Park King mobile home investing business nationwide.
In today’s episode, Jose Garcia shares with us his wealth of experience gained over his years investing in mobile homes. He talks to Andrew about his thoughts on the current and future state of the Mobile Home Park asset class. Jose also discusses what it’s like to start out as a Lonnie dealer and how it can assist you in your mobile home park investing strategy along with what new investors to the mobile home park asset class should focus on when they first start out on their passive mobile home park investing journey.
Jose’s goal is to coach everyday individuals step-by-step on how to profit from mobile home park investing, a recession resistant asset, so they too can have financial independence!
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:05 - Jose Garcia’s background
05:58 - Mobile home investing in the real estate space
07:08 - Responsibilities as a mobile home park investor
08:18 - Opportunity in the mobile home park asset class
10:00 - The evolution of Jose Garcia’s branding and marketing
12:18 - Responsibilities as a Mobile Home Park owner versus a Mobile home investor
14:23 - Your first Mobile home park deal
15:44 - Overpaying for mobile homes
17:00 - The tough aspects of older mobile homes
19:20 - Mobile homes as personal property
21:00 - Mobile Home Parks, a recession-resistant assets class
22:50 - Focus on the underground infrastructure first- mobile home park investing
25:17 - Starting out as a Lonnie Dealer - “deals on wheels”
27:03 - Screening tenants for the mobile home community
28:04 - Low cost of entry-high reward
30:00 - Removing mobile home parks
31:00 - Rolling up your sleeves and getting your hands dirty
31:40 - Reaching out to Jose Garcia
32:07 - Conclusion
Links & Mentions from This Episode:
Email Jose: j@garciamhu.com
GarciaMHU website: https://garciamobilehomeuniversity.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“How much money do you need to get into a mobile home investment?” I would say with $10,000, you should be able to acquire a mobile home, get a rehab out there and become a landlord.” - Jose Garcia
“When it comes to a (mobile home) park, you're talking (about) a whole bigger factor.” - Jose Garcia
“A more professional operator realizes that you're stepping over dollars to pick up a dime because (in order to get) the best financing available, you're going to have to have good records, good financial records.” - Andrew Keel
“It's almost like that roll of the eyes from any tax officer or any government [official] for that sense, even though they would all agree that they need more affordable housing. And that's what mobile homes are.” - Jose Garcia
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Mr. Travis Watts, director of Investor Education at Ashcroft Capital.
Travis Watts is a full-time investor, passive income advocate and public speaker. In his role as Head of Investor Education, Travis dedicates his time to educating hundreds of investors who are looking to be "hands-off" and passive when it comes to real estate investing.
In this episode, Travis talks about what new passive investors (limited partner investors) should look out for when jumping into the Mobile Home Park asset class, what they can do to prepare and educate themselves for the world of passive real estate investing, and how to avoid one of the biggest pitfalls of all: “analysis paralysis.”
Travis loves the mobile home park asset class and believes that it is a great way to provide affordable housing to the masses.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:20 - Travis’ story and his journey into passive investing and investor education
04:20 - Commit to trying out your first real estate syndication deal
07:30 - Scalability when you are a limited partner
10:36 - Venturing out into different/multiple locations and asset classes like mobile home parks
14:30 - Helping people with affordable housing solutions, mobile home parks investing
16:52 - Looking at the bigger picture, IRR potential and return on investment of your time
20:00 - The importance of doing your due diligence on the operator, general partners, deal sponsor or syndicator
21:59 - Vetting techniques for vetting real estate syndication deal sponsors
24:37 - Ashcroft Capital and getting in contact with Travis Watts
26:00 - Conclusion
Links & Mentions from This Episode:
Ashcroft Capital: https://ashcroftcapital.com/our-team/travis-watts/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“The reality is when you get to seven, eight, nine homes, this starts to become a full-time job (even with property managers) and, see, that's what caught me off guard.” - Travis Watts
“Scale through syndications.” - Travis Watts
“Most people don’t enjoy that landlord life.” - Andrew Keel
“It doesn't really matter where I live because I'm taking advantage of great markets and people who specialize in those particular niches.” - Travis Watts
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Franco Perez of Franco Mobile Homes.
Franco is a Forbes Featured Mobile Home Expert, Affordable Housing Influencer and Author, YouTuber and Manufactured Housing Innovator. He is on a mission to break the stereotype of mobile home ownership by showcasing the “green” energy efficient process of building mobile homes, along with the opportunities manufactured housing provides for low income families to build equity vs. renting. Franco Perez also discusses how affordable housing can uplift an entire community as he has seen in San Jose, California. With his YouTube channel, Franco Perez reaches the younger generation, showing them that owning your own home is feasible.
After years of dedication to his vision, Franco has established a devoted team to unlock the pathway to homeownership and help families establish financial security through mobile home ownership.
Andrew and Franco discuss what they feel created the mobile home park stigma, the Mobile Home Park asset class in San Jose, the economics of the area, the importance of educating the younger generation and some of the pitfalls that new investors, owners, and manufactured housing developers may experience within the mobile home park industry.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:50 - Franco Perez’s background and journey into the Mobile Home Park industry
06:31 - The gap between renting and what people can afford
10:19 - The importance of knowing the value of your mobile home
13:45 - The stigma of mobile home parks in San Jose, CA
16:45 - Environmentally friendly mobile home park building and green production
19:58 - The “Not In My Backyard” Mentality (NIMBY)
21:40 - The cumbersome process of renovating a manufactured home
24:13 - Appreciation and equity
25:00 - Entities that want to close down Mobile Home Park communities
28:12 - The Economics of the Area: Where is the money flowing?
30:25 - Getting past the stigma of mobile home parks by reaching out to younger generations
32:35 - Reaching out to Franco Perez, contact info
33:18 - Conclusion
Links & Mentions from This Episode:
Franco Mobile Homes: https://www.francomobilehomes.com/
Franco’s YouTube Channel: https://www.youtube.com/channel/UCgQ4otKTfwxGJkUqH-dGEYg
Franco Mobile Homes Instagram: https://www.instagram.com/sexymobilehomes/?hl=en
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“People don't have an excuse to go into a mobile home community unless you know somebody that lives there.” - Franco Perez
“I use this analogy a lot, but cars were originally only built for the rich and wealthy and it was only until they built it on an assembly line in a streamlined way that we got cars accessible to everybody.” - Franco Perez
“But because it's in an assembly line, in a process way, we can now optimize. How do we waste less material?” - Franco Perez
“Our team does a good job of pushing the stigmas with the smart tech and all of that. So I'd love for you guys to be able to kind of see that firsthand.” - Franco Perez
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Pasha Esfandiary of Evoke Capital.
Pasha comes from a very non-traditional background. At the age of 19 he started playing professional poker and by the age of 26, he decided that playing poker wasn’t the lifestyle he wanted. Pasha then started his career in residential real estate, flipping houses he found at auctions. Pasha has since been involved in over $250 million of real estate transactions across multiple asset types. These include residential homes, boutique motels and the purchasing and management of large multifamily properties. He is now solely focused on acquiring mobile home park investments with his new firm, Evoke Capital.
Pasha’s journey from professional poker player to mobile home park investor has facilitated many lessons and strategies, he is now on the road to writing a book about it all. Today he shares with us many of those lessons, strategies and stories.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
00:55 - Pasha Esfandiary’s path into mobile home park investing
05:24 - Pasha’s professional poker journey and how it’s helped him invest in mobile home parks
08:00 - The strategy for Pasha’s first mobile home park deal
09:50 - Pasha Esfandiary’s Current portfolio and rapid growth
10:52 - Being investor-forward and customer-forward
14:00 - Building a great team
15:00 - The evolution of Pasha’s approach
18:35 - The importance of your pro forma and underwriting
21:00 - Do the incentives align for each other? Investors and operators
22:47 - Asking a lot of questions will sniff out bad GP’s
24:35 - Pasha’s perfect mobile home park
25:20 - Learning from others and reading everything you can
26:33 - The three metrics that Pasha looks for in mobile home park investment deals
27:38 - A year into the future for the Mobile Home Park industry
30:24 - Pasha’s dud deal
31:50 - Nationwide rent control?
33:40 - Raising mobile home park rent, but also giving tenants value
34:45 - Reaching out to Pasha Esfandiary
35:19 - Focus on the velocity of capital
36:01 - Conclusion
Links & Mentions from This Episode:
Pasha’s email: pasha@evokecapital.net
Evoke Capital: https://www.evokecapital.net/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“Poker is a game of incomplete information. Everyone’s trying to lie to you. Everyone’s trying to bluff you. Everyone’s trying to tell you a different story.” - Pasha Esfandiary
“In real estate, you essentially can have 95 to 99 % of all the information when you're buying and deal with enough education.” - Pasha Esfandiary
“Previous success is an indicator of post -success, in my opinion.” - Pasha Esfandiary
“We keep our heads down and just ask, ‘Does this property work?’” - Pasha Esfandiary
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Abraham Anderson of Capital Communities. Abraham exploded onto the mobile home park investing scene after attending the Frank and Dave MHU mobile home park boot camp in 2019. Abraham was a top salesman for a national insurance company in a prior career and with those skills he has excelled through cold calling park owners. Within 4 years, Abraham has become a top 50 mobile home park owner with over 2,500 lots in 40 communities. Abraham Anderson owns mobile home parks across 6 states and he is also the host of the Capital Cashflow Podcast.
Abraham shares with us his Mobile Home Park Investing strategy, how he managed to close his favorite mobile home park deal, why he only buys in red states, as well as his view on the future of the mobile home park asset class. Abraham and Andrew discuss which metrics to use in evaluating a mobile home park's performance, the importance of affordable housing and the increased demand for mobile home park communities.
He might be fairly new to the MHP industry, but Abraham Anderson has a wealth of knowledge to share with us.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:50 - Abraham Anderson’s story and mobile home park investing journey
06:00 - Abraham’s first mobile home park deal
08:41 - Abraham’s favorite trailer park investing deal: 358 spots
10:29 - His team and how they handle management
11:23 - His Mobile Home Park Investing strategy through the years
14:43 - Funding and sourcing mobile home park deals
15:30 - Playing the long game
17:48 - Changing people
20:09 - Investing in people and property
21:07 - Mobile Home Park Investing Metrics, WalMart, and affordable housing
23:22 - Location, location, location
24:14 - Mobile Home Park investing - Demand is on the rise
26:50 - Rental rate increases
32:00 - Buying mobile home parks in red states
35:37 - Reaching out to Abraham Anderson
36:15 - Getting over the fear
37:25 - Conclusion
Links & Mentions from This Episode:
Capital Cashflow: https://capitalcashflow.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“You just have to get more creative and look at, ‘All right, well, this property here, what can I buy it for?’” - Abraham Anderson
“My end goal with all of these is to get them into a Fannie Mae or Freddie Mac loan and they have a minimum size of about 50 lots.” - Abraham Anderson
“Just keep your funnel full of deals.” - Abraham Anderson
“There's still the stigma with mobile home parks, but that is going away. So if you can get into parks right now and you can buy a deal, you know, and it checks all the boxes and you're not overpaying, then it’s only gonna get better.” - Abraham Anderson
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with the extremely accomplished and knowledgeable Mobile Home Park Sales Broker Kris Wessel, Senior VP at NAI Martens.
Kris Wessel has over twenty years of commercial real estate experience, with a particular emphasis in manufactured housing communities. He has been associated with Mobile Home Park community transactions dating back as far as 2008 and has cultivated a client list of more than 1,500 active buyers for the mobile home park real estate asset class throughout the midwest and southeastern United States.
In today’s episode, Kris and Andrew discuss the history of the Mobile Home Park sales market and what has changed in the current 2023 market as of this recording. Kris shares with us the importance of due diligence, his take on the mobile home park investment market in the midwest, and why mobile home park operations can be the most difficult part of the industry.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:39 - How Kris Wessel got into mobile home park investment sales
05:26 - Transaction volumes and the current trailer park sales market
13:09 - Cap rate changes in the Midwest
15:24 - Commercial bank debt terms
18:45 - The hair on the deal
20:32 - Big institutional buyers versus smaller MHP investors
22:03 - Planning ahead for the future
26:04 - Why mobile home park operations are so difficult
27:44 - Vetting potential mobile home park investment partners
31:26 - Evaluating the assumptions: raising LOT rent, infill, and sales models
35:20 - Good demand for affordable housing
38:52 - Underestimating the mobile home park industry
40:50 - Reaching out to Kris Wessel
41:30 - Due diligence on mobile home parks
41:53 - Conclusion
Links & Mentions from This Episode:NAI Martens - Manufactured Housing Communities: https://naimartens.com/mhc-3/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes: “The demand for mobile home communities since that very first one has really been unabated and and really has grown.” - Kris Wessel
“I guess the good news is that if we're getting mixed signals, then hopefully it isn't climbing way higher.” - Kris Wessel
“We've seen people that got into the business and maybe underestimated the operation side.” - Kris Wessel
“Do your diligence on the operator and their track record and if that's strong.” - Kris Wessel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with the highly experienced cost segregation expert Eden Markowitz from Madison Specs, one of the largest cost segregation firms in the country with over 17 years of experience.
In today's episode Eden and Andrew discuss why Mobile Home Parks are one of the best asset classes in commercial real estate for COST SEGREGATION! They do a deep dive into what cost segregation is, Why it is so important right now for Mobile Home Park investors and what the best ways to use it are in order to maximize your tax savings via accelerated depreciation. Tune in now to learn how you can maximize your tax savings via passive mobile home park investing!
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:34 - What is a cost segregation report? And when should you order one?
06:00 - Writing off CAPEX expenses
08:13 - Structural versus land improvements
10:50 - Bonus depreciation and the different parts of a mobile home park
14:00 - Tax savings
14:50 - Bonus depreciation phase out, 80% in 2023
16:00 - Flipping mobile home parks and the 25% depreciation recapture tax rate
17:45 - The 1031 Exchange
20:05 - The requirements for getting the real estate professional status (irs perspective)
21:09 - Getting a cost seg on a $200,000 purchase price?
22:06 - Are there additional audit risks with getting a cost seg report?
23:25 - Case Study for a property with a purchase price of a million dollars
27:35 - Goodwill allocation
31:00 - Quick calculation for cost segregation savings
32:00 - The importance of timeliness and documentation
33:22 - Depreciation against capital gains tax
36:34 - Educate yourself and spread the word on cost segregation and saving money on taxes
37:51 - Reaching out to Eden
38:00 - Conclusion
Links & Mentions from This Episode:
LinkedIn: https://www.linkedin.com/in/eden-markowitz-11869982
Facebook: https://www.facebook.com/eden.markowitz/
Eden’s email: emarkowitz@medicinspecs.com
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“Cost segregation basically is accelerating your depreciation.” - Eden Markowitz
“So improvements are always great for cost seg studies. It's kind of a different way because we're not looking at existing structures. We're looking at your budgets and what you spend on it.” - Eden Markowitz
“The bonus depreciation is really a big deal for mobile home parks.” - Andrew Keel
“Just as a rule of thumb, probably somewhere between 400k and 600k tax deduction for that year if you purchase a park for a million bucks.” - Eden Markowitz
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with the highly experienced, value-add mobile home park operator and Co-Chief Executive Officer from The Firm, Kirby Horton.
Kirby spent five years in the US Navy, acquired a degree in economics, and worked for 28 years in the employee benefits industry before starting his manufactured housing investing career. Kriby started his career in the midst of a recession and now has over 16 years of experience in the mobile home park asset class. Kirby Horton has done it all from buying, selling and operating mobile home parks primarily in the southeastern United States.
Kirby shares with us how he overcame getting started during a recession and he also talks about his unique and highly effective mobile home park investing strategy: massive infill! Kirby also emphasizes the importance of getting to know the people you’re going to be working with. He is a huge fan of building a cohesive team and keeping good people for the long term within his mobile home park investing company. Kriby Horton explains the importance of educating yourself in the mobile home park industry before diving in, in order to avoid costly mistakes. Kirby and Andrew also do a deep dive into Kirby’s infill processes and how he has dealt with regulatory issues that many mobile home park investors face.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:25 - Kirby’s start in manufactured housing
08:33 - How to build an amazing team
10:22 - Acquisition and expansion
13:05 - Municipalities using third party enforcement for inspections and code enforcement
15:31 - Infill is a team effort
18:26 - Kirby’s current mobile home park strategy: renting new mobile homes and infilling vacant lots
21:27 - Direct bill utilities
24:17 - Learning from everyone and everything, always ask questions
25:41 - Research the track record, integrity and quality of the GP (general partner)
27:52 - An achievable infill number in the first year for The Firm
32:11 - Building underground
36:46 - Highest and best use, and regulatory problems
40:30 - When ignorance can be bliss
42:00 - Reaching out to Kirby Horton
43:10 - The importance of due diligence
43:58 - Conclusion
Links & Mentions from This Episode:
The Firm Inc: https://thefirmmhp.com/
Kirby’s email: kirby.horton@thefirm.com
Instagram: https://www.instagram.com/thefirmmhp/
Facebook: https://www.facebook.com/TheFirmIncTN
LinkedIn: https://www.linkedin.com/company/the-firm-inc
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“We came and found them and sought them. And we've empowered them to basically be the best that they can be and to join us in our mission to build better communities.” - Kirby Horton, on finding his amazing team at The Firm.
“Whenever a home comes in, it's important to coordinate with the factory and with the drivers.” - Kirby Horton
“It's just important, I think, to understand what your plan B and plan C is. If plan A fails, you know, what is the cost of remedy for plan B and plan C?” - Kirby Horton
“And a lagoon is not much more than a septic tank with the lid off.” - Kirby Horton
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with an amazing guest in Mr. Tim Woodbridge.
Tim Woodbridge purchased his first mobile home park in December of 2019 and since then he has grown a portfolio of 9 Mobile Home Parks totaling just under 300 lots. He specializes in value-add multifamily assets, most of which were distressed and in need of a total makeover.
Tim, a former registered nurse for over 8 years, graduated from Northern Arizona University in 2012 with a BS in nursing, he was able to, within just 2 years, quit nursing and jump into mobile home park investing full time!
A lot has changed in the last few years within the mobile home park investing space and Tim talks about the lessons he has learned during those formative years. He talks about how his mobile home park investing strategy has changed, as well as his view on the future of the mobile home park asset class. Tim focuses on helping educate those interested in investing in mobile home parks, and he reiterates the importance of keeping up to date with industry knowledge and trends. He also mentions that while you’re actively investing and operating within the mobile home park asset class, it’s important to keep an open mind on alternate ways of operating mobile home communities.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:40 - Tim’s journey into the world of mobile home park investing
06:33 - Getting educated in the mobile home park industry
11:57 - Adjusting your expectations of people
14:28 - How Tim’s strategy in mobile home park investing has changed over the years
17:08 - Mistakes you make when you’re too hungry for your first deal
21:00 - Due diligence in mobile home communities (especially with plumbing)
24:00 - Figuring things out the best you can and knowing when to ask for help
25:30 - Being open and honest
27:41 There’s no perfect mobile home park, but there are perfect on-site mobile home park managers
31:31 - Bringing in mobile homes (infill) and fixing mobile home park roads
34:18 - Being bullish on mobile home parks
37:00 - Government threats
39:41 - Getting in touch with Tim Woodbridge (mobile home park investor)
41:55 - The importance of networking
43:50 - Conclusion
Links & Mentions from This Episode:
Tim’s Facebook: https://www.facebook.com/tim.woodbridge.54/
Tim’s Instagram: https://www.instagram.com/tim.woodbridge/?hl=en
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“Naturally, I'm kind of like, how can I build rapport with someone? That's just how I am.” - Tim Woodbridge
“You know what they say, get in the right rooms, get around the right people. And that’s so true.” - Tim Woodbridge
“I grew up in creative real estate. So like, that's, that's interesting to me. Like creative deal structure, how can we make this a win-win?” - Tim Woodbridge
“Things don’t happen as cheaply as you expect they would.” - Tim Woodbridge
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with an amazing guest in Mr. Matthew Ricciardella, founder of Crystal View Capital.
Matthew Ricciardella is a glowing success story in the mobile home park asset class. He is a self made entrepreneur, mobile home park investor and philanthropist. Matthew is the founder and principal manager of Crystal View Capital, with over 20 years experience in the real estate industry. Matthew Ricciardella has personally been a principal in over $1B in real estate transactions. He presently has over $500M in assets under management across the various fund’s that he sponsors.
Today, Matthew shares his wisdom with us as he talks about his mobile home park deals and how he has been able to acquire his huge portfolio of commercial real estate. Matthew discusses buying mobile home parks in blue states and what metrics he looks for in the markets he buys in. Matthew also highlights what good mobile home park operators can do to stay out of trouble.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
00:40 - Matthew Ricciardella’s journey into mobile home park investing
04:05 - Getting educated on mobile home parks as an asset class
06:00 - Matthew Ricciardella’s first mobile home park and how his strategy has changed over the years
08:23 - The footprint for Crystal View Capital
10:23 - The perks of self-managing mobile home parks
13:38 - The mobile home park industry is very hands-on with operations and property management
15:26 - The infill process in Mobile Home Parks
18:00 - Tenant-owned mobile homes
19:44 - Jeremiah Boucher and Patriot Holdings.
21:05 - What not to do: Placing the park-owned mobile home income into your top-line revenue and applying a cap rate to that net-operating income
24:32 - Expense ratios
26:00 - Buying Mobile Home parks in Blue States
27:27 - Understanding the local mobile home park market
28:50 - Self-storage versus mobile home parks
30:30 - Going to scale with fragmented mobile home park business models
36:50 - Matthew Ricciardella’s perfect mobile home park looks like this
38:09 - Threats to the Mobile Home Park industry
38:55 - Characteristics of good and bad mobile home park operators
40:00 - Reaching out to Matthew Ricciardella
40:48 - The importance of educating yourself in mobile home parks as an asset class
41:20 - Conclusion
Links & Mentions from This Episode:
Crystal View: https://www.crystalviewcapital.com/
Osptrey Managment: https://www.osprey-management.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“You learn from your mistakes.” - Matthew Ricciardella
“Really, our strategy and our focus is identifying underperforming assets and adding value to them.” - Matthew Ricciardella
“It's very management intensive. We manage all of our own assets, by the way. A lot of groups are more or less capital allocators.” - Matthew Ricciardella
“Don't let the tax tail or the regulatory tail wag the dog. Just understand what you’re getting into.” - Matthew Ricciardella
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Steve Case, Active Mobile Home Park Investor/ Owner and Founding Member of SECO.
Steve Case has had an illustrious career within the mobile home park industry and he has been an active investor in mobile home parks for over 24 years. Steve Case is also one of the founding members of the SECO conference for mobile home park operators.
Steve Case’s mentors and educators have been some of the greats within mobile home park asset class, including Lonnie Scruggs (‘Deals on Wheels’ author). Steve has been involved in all areas of the mobile home park industry, including: education (he started MHU and sold it to Frank Rolfe and Dave Reynolds), he also has served on the board of the Georgia Manufactured Housing Association, he formally offered consulting on the construction of the Community Series manufactured home & advised financial institutions on the creation of chattel community owner finance programs from the purchase of manufactured homes.
The SECO Conference, which Steve co-founded, is one of the most popular annual mobile home park investor conferences. This conference in 2023 was located in Atlanta, GA and is for mobile home park owners and operators. SECO is a great place to network, explore, learn, and share ideas about the manufactured housing industry.
Steve Case’s mission is to help educate and inform all involved within the mobile home park investing community. Today Steve Case shares his tips, stories, and advice with us all on this value-packed episode on the Passive mobile home park investing podcast.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:41 - Steve Case’s origin story and journey into Mobile Home Park Investing
05:25 - Steve’s love for educating and the story behind SECO
08:05 - Military traits that transfer over to investing in mobile home parks
09:45 - The difference between a turn-around mobile home park and a turnkey trailer park
14:00 - The difficulties faced in turn around value-add mobile home parks
16:00 - Mixtures of tenant-owned homes and park-owned homes
18:23 - The importance of taking your time to understand the market
24:48 - People, promises, and places
29:02 - Steve’s perfect mobile home park looks like this
31:00 - The need for affordable housing and the evolution of the mobile home park asset class
34:45 - How bad investors mess with the manufactured housing community industry
40:31 - Getting hold of Steve Case and/or SECO conference
42:10 - Aligning yourself with the right group of people
44:40 - Conclusion
Links & Mentions from This Episode:
SECO Conference: https://secoconference.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“A lot of folks, they want to get into this industry, but they've got to understand what is the difference between a turnaround park and a turnkey.” - Steve Case
“I've done it twice, where I thought I did good due diligence on the market, on the area, but I didn't go deep enough.” - Steve Case
“Who are the people [passive investors are] investing with or what person or group of people are they investing with? What's their track record? Can you take a look at a little bit of their personal life?” - Steve Case
“Align yourself with the right group of people that do the right things, that care about the tenants, that care about the community.” - Steve Case
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Larry Abramowitz from Broadview Capital Partners.
Although Larry might be newer to the manufactured housing community investing space, by comparison, he is making a name for himself, with his entrepreneurial spirit and love for the asset class. He has acquired 16 mobile home communities in only 3 years. In this episode Larry offers a lot of golden nuggets from his mobile home park investing journey. Larry discusses some of the mistakes he has made, including buying too many mobile homes for infill too fast. Larry also discusses his unique take on what his perfect Mobile Home Park would look like. Larry brings enthusiasm and down-to-earth knowledge for passive investors interested in mobile home park investing.
Larry Abramowitz founded Broadview Capital Partners LLC, in 2014, to acquire, remodel and rejuvenate, distressed and abandoned Mobile Home Park communities, as well as multi-family and commercial properties. He has bought and sold over $40M in assets and owns and operates 16 Mobile Home Park communities in the Midwest and Southeast.
Larry holds a B.A. in Manufacturing Engineering from Boston University and an MBA, in Finance & Marketing, from the Wharton School at the University of Pennsylvania.
Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities, with over 2,500 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities, by utilizing proven systems to maximize the occupancy, while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:44 - Larry’s journey into Mobile Home Park investing
10:30 - Larry’s team, operations, and growth
13:00 - Managing park-owned mobile homes
15:00 - Infill, the toughest value-added component!
18:53 - Larry’s Mobile Home Park investing strategy and how his strategy has changed over the years
20:52 - Buying too many mobile homes too fast
23:47 - Advice for LP’s (passive investors) limited partner investors of mobile home parks
26:05 - Fixing up a neglected Mobile Home Park
30:26 - Affordable housing is a great asset class to invest in
32:19 - Difficulties with zoning, regulations, and the local government
36:00 - Reaching out to Larry
36:49 - Conclusion
Links & Mentions from This Episode:Reach out to Larry: larry@broadviewcap.com
Broadview Capital Partners: https://broadviewcap.com/
Broadview Communities: https://broadviewcommunities.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“There's an execution risk part of Mobile Home Park investing with these value add deals.” - Andrew Keel
“I think that's, that's number one is making sure that, you know, at least your money is invested with a person who's going to do the best to take care of it and try to perform well with the capital.” - Larry Abramowitz
“That's what we try to do. Working with these cities to understand that we are making things better and providing affordable housing.” - Larry Abramowitz
“I think it's a great asset class to be in. I mean, I’m a big believer that this is a long term growth strategy for your wealth.” - Larry Abramowitz
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode, Andrew talks with mobile home park owner and operator Ben Braband from Saddleback Valley Communities. Ben share’s the motivating reasons for his career shift from Los Angeles, California police officer to manufactured housing community investor. Ben shares his mobile home park investing journey to 5,000+ lots and he also talks about the changes he has seen in the manufactured housing space during the course of his 17 years in the business. Ben candidly shares invaluable lessons on deal hunting, mobile home park management during recessions, his park-owned mobile home strategy, and early mobile home park due diligence blunders.
Ben’s current portfolio consists of 46 Parks in 9 states. approximately 5,200 lots and 1,150 POH’s. Ben is a past president & current Board Member of the Rocky Mountain Manufactured Housing Association. Prior to entering the Real Estate space, Ben was a Los Angeles Police Officer & a Naval Intelligence Specialist. Ben enjoys traveling, spending time with his family, boating, off-roading, attending rodeos & cheering on the Denver Broncos.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:25 - Ben’s real estate origin story and his first mobile home park purchase
05:44 - Understanding the nuances of the manufactured housing industry
07:23 - Mobile home park education in 2006<
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode, Andrew talks with mobile home park owner and operator, Patrick Hagens from MHP Communities. Patrick has a wealth of knowledge as he began his journey into the manufactured housing space several years ago. Patrick is a big advocate of learning about the manufactured housing space through mobile home park events and the MHU bootcamps with mentors such as Frank Rolfe. Patrick imparts his invaluable knowledge and also emphasizes the importance of vetting your limited partners. Patrick also shares his thoughts on the future of the manufactured housing community space.
Patrick Hagens, founder of MHP Communities LLC, is the sole owner and operator of a 6 mobile home park portfolio worth around $25M. Patrick and his fiance built a 25 state database of mobile home park owners, mailed out brochures and cold called to find deals. With their dedication, they have bought a mobile home park every year since 2018. Patrick's properties are 100% owned by him. These investments have enabled them to move to Alaska and hunt and fish all over the world, fulfilling a lifelong dream.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to The Passive Mobile Home Park Investing Podcast
01:34 - Patrick's background and journey into manufactured housing space
05:00 - Patrick's perfect mobile home park looks like this!
09:45 - Vacancy rate of mobile home parks in different states
11:03 - Operations and the importance of choosing the right market
12:30 - The Frank and Dave Mobile Home Park MHU Bootcamp
13:53 - Patrick's investing strategy in mobile home parks
17:05 - The dangers of being too thrifty
18:28 - Finding the right mentors and limited partners
20:00 - What does the future in mobile home park investing look like?
24:23 - Regulations could be a threat to mobile home park investing
29:00 - Park owned homes or Tenant owned homes?
30:19 - Getting a hold of Patrick Hagens
30:53 - Patrick's final piece of advice for passive mobile home park investors
34:29 - Conclusion
Links & Mentions from This Episode:
Patrick's LinkedIn Profile:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode, Andrew talks with mobile home park owner and operator, Apurva Shah from JAYS Properties. Apurva's background in multiple asset classes has enabled him to have a unique entrepreneurial perspective on the mobile home park space. Apurva shares his journey on self education in the manufactured housing community space. Apurva also shares some of the mistakes he made as well as the important lessons he has learned throughout his mobile home park investing journey. Apurva provides wholesome advice for passive investors (limited partners) and he also shares his thoughts on the future of the manufactured housing community space.
Apurva is the Managing Partner at JAYS Properties, LLC his focus is on residential and commercial real estate investments, including value add, office, multifamily and mobile home parks. Apurva has completed over $50MM in real estate transactions and manages an eight figure portfolio.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages 39 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2023, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to The Passive Mobile Home Park Investing Podcast
01:15 - Apurva's background and journey into the manufactured housing community space
04:16 - Apurva's first mobile home park deal in Michigan and his current portfolio
05:04 - How do car washes perform as an asset class?
06:46 - Research and self-education on different asset classes
10:53 - The toughest hurdle to overcome in mobile home park investing
13:31 - Apurva's perfect mobile home park looks like this!
14:30 - Private sewer systems managed by Apurva and his team
17:00 - The importance of due diligence
21:00 - Passive investors should vet all of their general partners
24:55 - What does the future in mobile home park investing look like?
28:45 - The biggest threats to the mobile home park industry
33:28 - Getting in contact with Apurva Shah
34:04 - Apurva's final piece of advice for passive mobile home park investors
35:10 - Conclusion
Links & Mentions from This Episode:
JAYS Properties:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode, Andrew talks with midwest mobile home park owner and operator, Jason Janda. Jason's background in apartment acquisitions and syndications has enabled him to have a unique perspective on the manufactured housing industry. Jason shares some of the mistakes he made as well as the important lessons he has learned throughout his mobile home park investing journey. Jason provides invaluable advice for passive investors (limited partners) and he also shares his thoughts on the future of the manufactured housing industry. Jason discusses his mobile home park investment strategy, which leads to a deep dive on the mobile home park opportunities he is reviewing and potential obstacles that come with investing in the southern United states.
Jason Janda, the CEO of Rochester Property Group, is a real estate tax attorney and mobile home park investor/ operator. After working in various legal and business capacities, both in private equity and within law firms, Jason decided to create his own firm to acquire and operate mobile home parks throughout the midwest. Jason currently operates 15 communities in 6 states.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 30 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2023, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to The Passive Mobile Home Park Investing Podcast
01:24 - Jason's journey into manufactured housing communities
02:45 - Jason's acquisition experience at an apartment/multifamily syndication group
05:38 - Variable rate loans on acquisitions
08:28 - The toughest hurdle to overcome in mobile home park investing
09:23 - What are the types of mobile home communities that Jason targets?
12:40 - Managing in-house and leveraging technology
13:41 - How does Jason find his mobile home park deals?
14:25 - Where do you think the best mobile home park strategies are?
17:37 - Slowly walking up lot rent to market rent
20:09 - Mistakes that Jason has made in mobile home park investing
21:10 - How did Jason get educated on mobile home park investing
22:56 - More mistakes that Jason has made
24:46 - Current deals in Jason's mobi
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode, Andrew talks with veteran mobile home park owner and operator, Julio Jaramillo. Julio shares his thoughts on the future of the manufactured housing industry as well as the responsibility that comes with being a socially aware mobile home park owner. Julio imparts his knowledge surrounding apt leverage and he also discusses how his mobile home park investing strategy has changed over his many years in the business. Julio does a deep dive on how he establishes a successful mobile home park and provides wholesome advice for passive investors. Julio also shares some of the salient lessons he has learned throughout his mobile home park investing journey. Julio's passion for the mobile home park industry is exhibited in his enthusiasm to help others and impart the invaluable knowledge he has gained over the years.
Julio is the Founder, President, and Managing Member of Evergreen Communities, LLC, and its affiliates, the owner and operator of more than 4,000 mobile home sites in 12 states. He formed the company in 1999 with a $5,000 investment and has built it into a $325 Million privately-held organization employing 75 Americans. In his off time, he is an avid cyclist and Ironman triathlete.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2023, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to The Passive Mobile Home Park Investing Podcast
01:40 - Julio's background in Colombia and the benefits of Ironman
05:31 - Julio's inception in the manufactured housing industry
10:38 - What were interest rates like at the dawn of your mobile home park journey?
14:30 - The appropriate amount of leverage
16:00 - What's your model scheme?
17:03 - Raising rents and investing money into the mobile home parks
18:35 - The Burbank Council and Julio's love for the free market
21:18 - How Julio's mobile home park investing strategy has changed over the years
23:45 - Mistakes that Julio has made and learned from in mobile home park investing
29:10 - The most important things passive investors need to look out for
33:15 - Julio's impressive p
Welcome back to The Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode, Andrew talks with Southeast mobile home park syndicators and partners at MHCI Group, Jason Postill and Tyler Lekas. Jason and Tyler share their insights on the benefits of acquiring a portfolio of mobile home parks solely in the state of Arkansas. They also do a deep dive into the challenges they have been faced with concerning utility infrastructure and infill inside of their portfolio of mobile home parks. Jason and Tyler share their valuable lessons learned as well as the knowledge they have gained throughout their mobile home park investing journey.
Jason Postill and Tyler Lekas met in 2019 and formed MHCI Group in 2020, since then they have scaled to over 700 mobile home park lots in the state of Arkansas.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,500 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com .
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2023, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points: 00:21 - Welcome to The Passive Mobile Home Park Investing Podcast
01:15 - Jason's journey into manufactured housing communities
05:04 - The inception of MHCI Group
06:57 - Strengths in the partnership between Jason and Tyler
08:28 - Tyler's background and journey into the mobile home park investing world
10:00 - Why is Arkansas the focal point?
14:15 - Apartment rents and lot rent in Arkansas
16:21 - The toughest hurdle to overcome in mobile home park investing
17:30 - Jason and Tyler's MHP portfolio and current team
24:18 - Mistakes that Jason and Tyler have made in mobile home park investing
27:45 - Sewer lines are chaotic!
28:30 - The most important thing passive investors need to look out for
35:42 - Jason and Tyler's perfect mobile home park looks like this!
37:50 - Getting a hold of Jason Postill and Tyler Lekas
38:06 - Conclusio
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode, Andrew talks with mobile home park syndicator and operator Bryce Robertson from Cultiv8 Collective. Andrew and Bryce dive into why the demand for affordable housing in the United States is at an all time high, they also discuss how to change the tenant base in a mobile home park as to improve the property. Bryce discusses his in depth acquisition and refinance strategies that he believes will weather most economic climates. Bryce discusses how his investment strategy has changed since he started in mobile home parks in 2015.
Bryce purchased his first mobile home park in 2015 with a net worth of -$50,000, with unseasoned credit and a mere $2,000 in the bank. Once Bryce closed that seemingly impossible deal, he knew that anything was possible and continued to grow his knowledge, experience, and wealth to become financially free within 2.5 years through mobile home park investing.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com .
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2023, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:31 - Bryce's journey into the Mobile Home Park investing world
06:28 - Living an active life alongside a growing portfolio of mobile home park investments
08:00 - How Bryce has built his team
08:50 - The toughest part of mobile home park investing
10:08 - How Bryce finds deals
15:00 - Bryce's portfolio and his first mobile home parks
17:31 - What the next five years in the mobile home park industry will look like
20:20 - The tenant base of mobile home parks and affordable housing
22:40 - Bryce's investment strategy and how it's changed over the years
26:38 - Mistakes that Bryce has made in mobile home park investing
28:35 - The most important thing passive investors need to look out for
33:15 - Bryce's perfect mobile home park looks like this!
34:18 - Bryce's opinion on rent increases and how much is too much
37:20 - Getting a hold of Bryce Robertson
37:47 - Conclusion
Links & Mentions from This Episode:
Invest Cultiv8: https://investcultiv8.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
"I honestly think that the hardest thing-and you would know about this as well-is finding the right deals and getting the right deal upfront." - Bryce Robertson
"If you look at the whole societal system, I think we're due for basically a detox and a change in a lot of these systems." - Bryce Robertson
"Price inflation is taxation. Also, they could hit us with property tax increases, capital gains tax increases. Who knows?" - Bryce Robertson
"I think America's number one real estate problem is the need for affordable housing." - Bryce Robertson
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Hansel Rodriguez from COARE Communities LLC. Andrew and Hansel discuss why choosing the right team for your property management company is so important. They also discuss why finding the right mobile home park properties to buy can be the toughest hurdle when scaling as a mobile home park general partner, syndicator or operator. They touched on why increasing lot rent in mobile home communities without it being justified can have negative consequences and why the most recent population and migration changes are creating new opportunities within the MHP and land-lease community marketplace.
Hansel is the principal of investment strategy and acquisitions at COARE Communities. COARE communities focuses on acquiring manufactured housing communities across the U.S. Hansel began his real-estate career in multi-family and affordable housing development at Taft Development Group, a multi-family developer with 4,500+ multifamily units and 100,000 sq. ft. of commercial developments to date. Hansel also supported the advisory efforts of numerous transactions including Stanley Black & Decker's $1.9 Billion takeover of Newell Tools. In his free time Hansel likes to volunteer on the Friends of St. Judes fundraising committee for St. Jude Children's Research Hospital and serves as a Disaster Response Volunteer for the American Red Cross.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2023, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
00:51 - Hansel Rodriguez introduction and journey into the mobile home park industry
06:40 - House flipping as a side hustle
08:30 - The toughest hurdle to overcome in mobile home park investing
12:46 - The evolution of Hansel's mobile home park strategy
19:00 - Mistakes we can learn from in MHP investing
20:30 - Hansel's property management style
23:50 - Most important thing passive investors should look out for when investing in mobile home parks
27:03 - Hansel's perfect mobile home park
28:50 - Go-to value add items
34:53 - The future of the Mobile Home Park market
39:37 - One last tip for investors
43:35 - How important is liquidity as an operator
46:10 - Getting a hold of Hansel Rodriguez and COARE Communities
47:00 - Conclusion
Links & Mentions from This Episode:
Hansel's email: hansel@coaremhc.com
COARE website: https://www.coarecommunities.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
"[The Sunbelt] is so competitive with prices that-if you didn't keep in mind the context-you could have easily gotten a little too excited and overpaid for things." - Hansel Rodriguez
"Scaling at a reasonable pace is something that requires more than your full time." - Hansel Rodriguez of COARE MHC
"If you walk around midtown in New York and you look, at night, at how many windows don't have a light on, it's terrifying. One out of every two." - Hansel Rodriguez
"Management is so much about the people, and the company, and the brand, and the reputation." - Hansel Rodriguez
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Dylan Stewart from Northstar Investors. Today Andrew and Dylan discuss how consistent messaging from management and proper maintenance in mobile home parks can lead to consistent distributions to investors. They also discuss the differences in quality on newer land-lease community assets versus older assets and how scaling too quickly can negatively impact mobile home park operations.
Dylan is CEO of Northstar Investors, Northstar specializes in Mobile home park & RV Park investments in Texas & Ohio. Their current portfolio totals over 500 lots. After graduating from high school in 2017 Dylan dove right into single-family real estate investing, he completed many wholesale deals in his local market then pivoted in 2018 to run a virtual wholesaling operation primarily in St. Louis, MO. Since the spring of 2020, his company only focuses on finding, buying, and stabilizing value-add mobile home parks & RV parks.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2023, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
00:41 - Dylan's history and journey into mobile home park investing
03:39 - Toughest hurdles in mobile home park investing
06:32 - How Dylan's MHP investing strategy has changed over the years
10:10 - RV park dynamic
13:20 - Financing for mobile home park and RV park hybrids
15:17 - Where Dylan sees opportunity right now
17:55 - Mistakes we can learn from
19:24 - What passive investors should know before investing in mobile home parks
21:24 - The future of mobile home park investing
24:27 - Getting a hold of Dylan
24:50 - Conclusion
Resources/Links:
Northstar Investors: http://northstarinvestors.com/
Dylan's email: ds@northstarinvestors.com
Dylan on LinkedIn: https://www.linkedin.com/in/dylan-stewart-812545130
Dylan on Facebook: https://www.facebook.com/dylan.stewart.906/
Dylan's previous episode: https://podcasts.apple.com/us/podcast/interview-with-dylan-stewart-and-alex-donnolo/id1520681893?i=1000524622355
SUBSCRIBE TO THE PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNELhttps://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
"We're trying to get and become specialists in the Texas market, specifically starting out in Dallas-Fort Worth." - Dylan Stewart
"I think just the hardest thing is, of course, integrating everybody-the full team-when you look at the site managers, construction managers, contractors, our in-house regional managers, COOs, owners, and our virtual assistants." - Dylan Stewart
"When you're trying to build a company, it's hard to scale without data and information." - Dylan Stewart
"The biggest pivot that we're continuing to make is focusing on longer horizons to where we focus on buying better assets." - Dylan Stewart
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Craig Schneider from RYZE Communities. Craig and Andrew discuss why park-owned homes can work when you have scale in a specific geographic area, they also discuss how a good team is all the difference with park-owned home maintenance and why building relationships with nearby owners of other mobile home communities is important. Craig and Andrew also discuss lifestyle changes and why mobile home parks might not be as affected by a down economy like other asset classes will be.
Craig Schneider is the managing partner at RYZE communities and RYZE focuses on value-add opportunities in the mobile home park, RV park and multi-family real estate space. Their team focuses on revitalizing under-performing assets and partnering with local leaders and communities to improve neighborhoods throughout the country.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2023, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
00:46 - Craig Schneider’s introduction
01:14 - Craig Schneider’s background
02:10 - Craig’s history as a commercial real estate appraiser
03:30 - Toughest hurdles to overcome in mobile home park investing and ownership
05:37 - Why it can take so long to close a deal
07:11 - Craig’s target market
08:00 - Craig’s first park and current real estate portfolio
10:28 - Park-owned mobile home models
17:26 - Craig’s mobile home park investing strategy and how it has changed
20:00 - Best strategy for mobile home park investing in the current market
21:36 - Mistakes that we can learn from
23:05 - How Craig educated himself in the industry
24:32 - The most important thing a passive investor needs to look out for
26:10 - Craig’s perfect mobile home park
27:55 - The future of mobile home parks
32:43 - Getting a hold of Craig Schneider
33:15 - Conclusion
Links & Mentions from This Episode:
Craig Schneider’s email: craig@RYZEcommunities.com
Craig Schneider’s LinkedIn: https://www.linkedin.com/in/craig-schneider-cpm-b7b81911
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“And when I first encountered manufactured housing, I said, this is actually a very affordable and great way to live.” - Craig Schneider
“[Appraisal] is about evaluating property and looking at it from all different angles.” - Craig Schneider
“I don’t think people understand the way that they’re constructed. It’s a different kind of repair. They shift over time.” - Craig Schneider
“The toughest hurdle is managing people, in any business.” - Craig Schneider
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Gabe Petersen from Kaizen Properties. Gabe and Andrew discuss utility infrastructure in Gabe's 1st mobile home park and how Gabe got educated on due diligence within the mobile home park space. Gabe also shares what he would have done differently before buying a mobile home park and his take on how the impending recession will affect mobile home parks and self-storage.
Gabe Petersen is the founder of Kaizen Properties and the host of The Real Estate Investing Club podcast. Gabe started his career as a management consultant for Fortune 500 companies in Seattle, Washington, he soon realized the corporate world did not fit the vision he had for his life. It wasn't until he bought his first broken-down triplex in Tacoma, Washington that he truly found his path in real estate. He now repositions commercial real estate across the United States - with a special focus on RV and Mobile home parks.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2023, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:23 - How Gabe Petersen got started in real estate
04:18 - Gabe's first mobile home park purchase
08:48 - Gabe's current portfolio
10:42 - Education on mobile home parks and RV parks
12:40 - Gabe's move to Self-Storage
13:25 - The hardest part of the business
16:35 - Self-Storage versus Mobile Home Parks
21:56 - The most important things that passive investors need to look out for before investing in mobile home parks
27:49 - The impending recession and mobile home parks
29:07 - "Your tenant base is the most fragile"
31:15 - Gabe's perfect mobile home park
32:07 - Getting a hold of Gabe Petersen
32:26 - Conclusion
Links & Mentions from This Episode:
The Real Estate Investing Club: https://www.therealestateinvestingclub.com/?r_done=1
Gabe's Email: gabe@therealestateinvestingclub.com
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
"[Self-education on MHPs] was really just looking online and reading about people who have gone through it." - Gabe Petersen
"I really liked self storage just because it's very easy to automate, so I jumped in." - Gabe Petersen
"I'm doing my first syndication with an 80,000 square foot self storage facility coming up here soon." - Gabe Petersen
"The problem with self storage is, first of all, you have way more people than you do with mobile home parks." - Gabe Petersen
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Derek Vickers from Vicktory Real Estate Group. Derek and Andrew discuss the most important aspects that limited partners and passive investors need to look out for when investing into mobile home parks passively. They also discuss how interest rates are changing investing strategies and how park owned homes are likely a higher risk than tenant owned homes during a tougher economy.
Derek started his mobile home park investing journey with his first mobile home park purchase in September 2020 after 10 years in the insurance business as a sales manager. He currently owns and operates 2,000 lots across 38 different mobile home parks throughout the southeast, 23 of those being in Florida. Victory Real Estate Group specializes in turning around neglected mobile home parks by increasing occupancy, converting park owned homes to tenant owned mobile homes and reducing operating expenses. With a busy schedule Derek enjoys spending time with his wife and daughter and has another baby on the way!
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2023, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21- Welcome to the Passive Mobile Home Park Investing Podcast
02:10- Derek's journey into manufactured housing communities
08:00- Balancing mobile home park management and sales when you're going through a lot of growth
10:40- Derek's first mobile home park deal
11:40- How Derek self-educated before cold calling mobile home parks
13:40- The toughest hurdle to overcome in mobile home park investing
18:04- Derek's current mobile home park investing strategy
21:10- How Derek converts parks from park-owned homes to tenant-owned homes
23:50- Smaller parks versus bigger parks: management and expense ratios
25:30- Mistakes that Derek made
28:30- The most important things that limited partners and passive investors need to look out for when investing into mobile home parks
29:49- Derek's perfect mobile home park
31:00- What the future of mobile home park investing looks like
33:24- Getting a hold of Derek
34:03- Conclusion
Links & Mentions from This Episode:
Derek Vickers' email:derekvickers885@gmail.com
Derek Vickers' instagram:https://www.instagram.com/derekvickers885/
Derek Vickers' twitter:https://twitter.com/derekvickers885?lang=en
Derek Vickers' tiktok:https://www.tiktok.com/discover/derekvickers885
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
“That first park was probably like I learned on level 10 at level 1, so there was no gradient. It was just all in.” - Derek Vickers
“I think people just underestimate the work involved and the things that are actually involved in this because the operations can be tough and I understand that.” - Derek Vickers
“You need to get reliable and trustworthy people on your team.” - Derek Vickers
“Make sure you're going through all of your due diligence checklist.” - Derek Vickers
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Craig Napoliello of 40 Oaks Properties. Andrew and Craig discuss the benefits of geographical targeting when managing mobile home parks from an operational standpoint, monetizing park owned homes versus tenant owned homes, and the significant benefits of scalability when buying mobile home parks.
Craig worked as a fixed-income trader for a large portion of his career and now works at a fintech firm. After he acknowledged his growing interest in real estate and dabbled in single-family home investments, he began his multi-family journey in the beginning of 2019. When he's not at his W-2 job, Craig loves to learn new ways to build generational wealth through mobile home parks and other investment real estate.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:25 - Craig's journey into real estate investing
06:25 - Funding: raising money for deals or personal money
09:30 - Craig's first MHP deal in North Carolina
15:06 - The toughest hurdle to overcome in mobile home park investing
15:31 - Craig's management company
17:45 - Learning from mistakes in manufactured housing communities
19:20 - Tenant-owned homes, park-owned homes, and rent-to-own
24:30 - Changes in viewpoints from when Craig bought his first MHC portfolio
28:15 - Buying smaller mobile homeparks
31:48 - Important points passive investors should know about the mobile home park space
35:33 - Bringing over skills from Craig's W2 job.
37:32 - Getting a hold of Craig
37:52 - One final tip
39:15 - Conclusion
Links & Mentions from This Episode:
Craig's email: craig@40oaks.com
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors
Quotes:
"If I think that manufactured housing is a better vehicle for my investments, why am I not doing that?" - Craig Napoliello
"If the opportunity is there, I should be doing everything in my power to bridge the gap financially." - Craig Napoliello
"It was super important to them what was going to happen to the park and we made them feel comfortable about that. This gentleman was a little less worried about that, but I'd say that he wanted to be treated like the master of his domain." - Craig Napoliello
"Like everything else during COVID and this inflationary period, the prices of used cars have gone up. We've seen things in our market." - Craig Napoliello
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with his business partner, John Squartino of Keel Team Real Estate Investments. Andrew and John discuss a few things including: park owned home sales within mobile home parks, rent collections protocols and the management of capital expenditure projects within mobile home parks. Andrew and John also talk about some of refinancing difficulties they have experienced this year during the FED's interest rate hikes, how value-add manufactured housing communities are their chosen investment strategy and what a perfect mobile home park looks like from a Chief Operating Officer's view point.
Born and raised in Orlando, Florida John Attended the University of Central Florida graduating in 2013 with a Major in Marketing and a Minor in Sports Business Management. Upon graduation, John landed a job with a start-up sports technology company where he assisted in product development, marketing, and customer support. After four years of employment there a life-changing event occurred when he ran into a childhood friend; Andrew Keel. After a couple conversations revolving around mobile home parks, John decided to put a bow on the sports tech career and take this journey with Andrew in the mobile home park space. Fast forward 5 years, they have been able to acquire 34 mobile home communities and employ over 40 people across the world in their mobile home park property management company.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2022, and it would mean the absolute world to me if you could help contribute to that.Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
02:11- How John got into mobile home parks
04:36 - Frank and Dave MHU Bootcamp
05:31- Preconceptions about mobile home parks and the STIGMA
07:20 - Their first mobile home park
09:30 - The toughest hurdle for most operators in mobile home park ownership
10:37 - Comparisons of other asset classes: Apartments vs self storage vs mobile home parks
12:33 - Hardest value add component in mobile home park investing and the story of Norfolk MHC
18:12 - Best opportunity or strategy in the marketplace right now for mobile home park investing
21:18- Mistakes he has made in mobile home park investing
23:50 - Most important things that passive investors need to look out for when investing into mobile home parks
25:07 - J
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Miles Noland from Treeside Capital. Miles and Andrew discuss why mobile home parks are one of the best performing asset classes and the stability that mobile home park investments have previously provided during recessions. They also discuss the hurdles operators must overcome with on-site managers managing the mobile home parks and the important role the operations team plays to improve the income and expenses of mobile home park investments.
Miles is a principal at Treeside capital and they invest in manufactured housing communities, RV parks, and self-storage facilities. They are based out of Cincinnati, OH and currently own and operate around 1,300 units
worth around $33 million. Miles is also a former college baseball player and coach.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving
overall management and operating efficiencies, all of which significantly boost the asset value
and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five -star review. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park CAPEX projects in progress? If so, follow us on Instagram:
@passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21- Welcome to the Passive Mobile Home Park Investing Podcast
01:21 - Miles’ story and how he got into manufactured housing
05:44- Miles’ first MHP deal
07:23 -The story behind Treeside Capital and their portfolio
12:57 - The team at Treeside Capital
15:30 - The toughest hurdle for operators in mobile home parks
18:00 - The hardest value add component in mobile home park investments
20:00- Infill in mobile home parks
22:00- The best opportunity or strategy for mobile home park investing
25:05- Mistakes to learn from
27:47- What LP's need to look out for when investing in MHP's
31:05 - Preparations for the future and possible recession
32:43 - Getting a hold of Miles Noland
33:22 - Conclusion
Links & Mentions from This Episode:
Treeside Capital: https://treesidecapital.com/
Miles Noland, LinkedIn: https://www.linkedin.com/in/miles-noland-62a60a119/
Keel Team's official webs
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Andy Freeman from Enjoy Communities. Andrew and Andy discuss what passive investors should look out for before investing into mobile home parks. They also discuss how agency financing (Fannie Mae and Freddie Mac) and supplemental loans fit into the mobile home park model and the lessons that they have learned from managing mobile home parks in northern colder states.
Andy Freeman is the founder of Enjoy Capital Group. Enjoy Capital is an emerging real estate private equity investment group with a growing portfolio of mobile home parks. They currently have over 300 lots under contract. Before this, Andy worked as the Vice President of acquisitions for Third IV Properties from 2020 - 2022 helping to facilitate the purchase of 10 mobile home parks in the midwest and actively participated as a member of the general partnership to help operate, enhance, and add value to these mobile home parks.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space,click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. Inorder to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:30 - Andy's story and how he got into manufactured housing
04:22 - Partnering with others
05:05 - Mobile home parks in the midwest
06:21 - Enjoy Communities
08:00 - Utilities in mobile home parks
09:23 - The toughest hurdle for acquisitions
11:37 - Finding deals and cap rates for acquisition
15:30 - The hardest value-add component
17:53 - How Andy's strategy has changed over the years
19:20 - Mistakes to learn from
21:05 - Important things passive investors should look out for
24:55 - Tenant owned homes versus park owned homes
26:08 - Andy's team at Enjoy Communities
28:40 - Andy's perfect mobile home park
30:07 - The future of mobile home parks
00:00 - Getting a hold of Andy
00:00 - Conclusion
Links & Mentions from This Episode:
Andy’s email: andy@enjoycommunities.com
Enjoy Communities: http://www.enjoycommunities.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Ryan Murdock from Open Door Capital. Ryan and Andrew discuss the benefits of having a vertically integrated mobile home park property management company as an owner/ operator. They also discuss the opportunities available today in the MHP space and the proactiveness needed in the current economic market in order to transact. They also discuss in depth what Ryan thinks are the most important things that passive investors should look out for when investing in mobile home parks.
Ryan spent 10 years in the semiconductor manufacturing industry before moving into real estate investing and property management in 2007. Since then, he has acquired an extensive portfolio of multifamily rental properties. He has operations and management experience in many facets of real estate including retail: office, multifamily, homeowners associations, and eour favorite mobile home parks. Ryan also has experience managing and consulting on nationwide commercial real estate turnaround projects. As a co-founder of Open Door Capital, Ryan played a critical role in setting up the early operations and in assembling some of the experienced team members they have today. In his spare time Ryan is an avid scuba diver and adventure seeker from his home base in Maui, Hawaii.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2022, and it would mean the absolute world to me if you could help contribute to that.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:51 - How Ryan Murdock got into manufactured housing communities
03:00 - Open Door Capital and Ryan's current projects
05:09 - The toughest hurdle for most operators in mobile home park ownership
06:55 - The hardest value add component in mobile home park investing
07:58 - The easiest value add component in trailer park investing
09:00 - Ryan's mobile home park investment strategy
11:49 - Running a property management company
13:55 - The best opportunity in the marketplace NOW for mobile home park investing
15:43 - Mobile home pa
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew tells his story. Today Andrew is on the other side of the mic as he is interviewed by his current COO and business partner, John Squartino. On today's episode Andrew shares with us where his passion for mobile home parks started, his personal opinion on what to look for before investing with mobile home park operators and the hardest component of value add in a mobile home park investment. Andrew also shares some of the mistakes and lessons he has learned over the years he has invested in mobile home parks.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under - managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Andrew is also a father, husband and an entrepreneur who enjoys competing in Ironman triathlon events.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership.Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five - star review. I have a goal of hitting over 200 total 5 - star reviews by the end of 2022, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five - star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
03:35 - Andrew’s journey into manufactured housing
08:00 - Andrew’s first park and how he built The Keel Team
10:30 - The toughest hurdle for most operators in the MHP ownership world
12:11 - The hardest value-add component
16:00 - How Andrew’s strategy has changed over the years
18:13 - The best opportunity or strategy right now for MHP investors
19:28 - The mistakes that Andrew has made and learned from
22:50 - The most important thing passive investors need to look out for
24:15 - Andrew’s perfect mobile home park
26:22 - The future of MHP investing
28:35 - The best way to reach out to Andrew
29:05 - Conclusion
Links & Mentions from This Episode:
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with experienced mobile home park owner/ operator Elias Weiner from the BoaVida Group. Today Andrew and Elias converse about how the mobile home park business has changed, interest rates and cap rates when refinancing, different value-add initiatives and the upcoming tiny homes movement.
Elias is the founder and President at The BoaVida Group. The BoaVida Group is a mobile home park and RV park real estate investment company that owns and operates over 165 properties with more than 20,000 home spaces. Elias is the 10th largest owner and operator of manufactured housing communities in the country. Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Would you like to see mobile home park projects in progress? If so, follow us on Instagram:@passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
02:38 - Elias Weiner's story
10:05 - Raising money: syndications versus investment funds (in mobile home park investing)
14:10 - The toughest hurdle for MHP operators
18:20 - Management of mobile home parks
19:58 - How Elias' mobile home park investment strategy has changed over the years
22:24 - Utilities in mobile home parks
25:33 - Value add components inside manufactured housing communities
27:30 - The best investment opportunity right now (MHP related)
31:14 - Projections for rent growth
32:40 - Interest rates and cap rates (Are MHP's recession resistant?)
36:13 - The most important things that passive investors need to look for before they invest into mobile home parks
39:10 - Tiny homes movement
40:27 - Getting a hold of Elias Weiner
41:55 - Conclusion
Links & Mentions from This Episode:
BonaVida Group: https://www.theboavidagroup.com/
Elias email: eli@theboavidagroup.com
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Edwin Byler from Blue State Capital. Edwin and Andrew discuss getting started in the mobile home park business, the learning curves experienced as a new investor and how to stay well informed on the journey of becoming an active investor within the mobile home park industry.
Edwin Byler is a commercial real estate broker and mobile home park investor. Starting at age 19, Edwin began investing in real estate as a means for additional income while still working his W-2 job. He has since built a portfolio of 60 mobile home park lots and just over 25,000 sq. ft of commercial mixed-use space. Edwin continues to invest throughout the state of North Carolina (the blue state). He enjoys using creative financing, including zero money down and building long term relationships to get deals done.
Edwin is also a two-time world record holder for deadlifting.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:40 - Edwin's story and the story of Blue State Capital
03:30 - Edwin's first mobile home park deal
06:16 - From a 6-unit to a 51-unit
09:43 - The process of closing on a MHP property
15:00 - Utility preference
18:30 - Mistakes to learn from
21:17 - The perfect mobile home park for Edwin
22:00 - The most important things passive investors need to look out for
23:23 - The future for Edwin and Blue State Capital
24:05 - Getting a hold of Blue State Capital
25:00 - The history of Blue State Capital's name
25:20 - Deadlift world record
26:12 - Conclusion
Links & Mentions from This Episode:
Edwin Byler, LinkedIn: https://www.linkedin.com/in/edwin-byler-771867170/
Edwin's email: edwin@bluestatecap.com
Blue State Capital: https://bluestatecap.com/
Blue State Captial, Instagram: https://www.instagram.com/bluestatecapital/
Keel Team's official website: https://www.keelteam.com/
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Alex Ramirez of Lucky Communities. Alex and Andrew discuss Alex's strategy when it comes to investing in mobile home parks. They also touch on Alex's experience in the hospitality industry and how he journeyed into mobile home communities. Alex and Andrew also talk about the future of the mobile home park industry given the uncertainties in the economy, the opportunities mobile home park investing presents and they give advice to new investors.
With his partner Zach Kupperman, Alex co-founded Lucky Communities.They have a combined 25 years of experience in the housing industry. Alex oversees all company and park operations. He is responsible for property management, tenant management, acquisitions, underwriting, facilities, human resources, and deal origination. Alex previously founded the real estate firm CSM Realty, a real estate development and management firm based in New Orleans, Louisiana specializing in boutique hotel and multi-family assets.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews:https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. Thanks ahead of time for making my day with your five-star review of the show!
Would you like to see mobile home park projects in progress? If so, follow us on Instagram:@passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions
Talking points
00:21-Welcome to the Passive Mobile Home Park Investing Podcast
02:00-Alex's journey into mobile home park investing
09:15-The hospitality business and boutique hotels in 2020
14:17-Lessons from the hospitality business
19:00-Lucky Communities
21:47-Property management
25:21-The hardest value-add component in mobile home parks: infill
26:27-Value-adds in Alex's current acquisitions
28:40-The best opportunity or strategy in mobile home park investing right now
32:36-Mistakes Alex has made in mobile home park investing
34:32-Finding deals
35:50-The most important things passive investors need to look out for when investing in mobile home parks
37:59-Alex's perfect mobile home park
39:00-The future of mobile home park investing
41:39-Getting a hold of Alex
42:17-Conclusion
Links & Mentions from This Episode:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with James Cook from Yale Advisors. As a broker in the niche market of manufactured housing communities, James has excelled and is known by sellers for selling top quality assets at extremely low cap rates. James and Andrew discuss how to identify bad mobile home park deals, the hardest value add component in Mobile Home Parks and the trade- off between current interest rates and the exit cap rates that are currently at a record low. Andrew and James also discuss what MHP's looked like during the Great Recession of 2008 - 2011.
Yale Advisors handle all aspects from confidential displacements, to running full marketing and the call for offers process. Yale focuses on institutional grade mobile home communities ranging from 50 sites to 1,000+ site portfolios. James' primary focus as a broker at Yale Realty & Capital Advisors is assisting buyers and sellers of quality Manufactured Home Communities and RV Resorts. He has successfully closed on the sale or financing of roughly $1 billion in production and could be considered one of the top brokers in the Mobile Home Park space..
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Brett Bowman and Ryan Hill from Suncrest Capital. Brett, Ryan and Andrew discuss the following in this value packed episode: different tools/ software they use for managing mobile home parks, some lessons they have learned along the way and their preference in regards to tenant-owned homes and park-owned homes. Both Ryan and Brett have full time day jobs in addition to managing their portfolio of mobile home parks, on this episode they share with us how they balance their time and what transferable skills they've obtained from their initial profession.
Suncrest Capital is a fast-growing real estate management company with over 600 lots and over $30 million in assets under management. Brett has previously invested in a variety of property types, from multi-family and single-family rentals, industrial lots, to mobile home communities. Ryan has more than thirteen years of experience in real estate and has had over $41 million in sales transactions over his career. He is both a mobile home park owner and an operator. Both Brett and Ryan are chief officers at Suncrest Capital, with Brett being a chief investment officer and Ryan wearing the hat of chief operating officer.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Po
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with John Hall of Newby Management. John and Andrew discuss several items including: overcoming tough hurdles, advice for passive MHP investors and the unique perspectives John has on managing mobile home park communities from his long career in the space. In addition, John Newby and Andrew Keel also discuss the similarities and differences when it comes to the property management of RV parks and mobile home parks.
John grew up in the manufacturing housing community industry, as his mother and father managed RV communities throughout their careers. John started at Newby Management in 2012 as a regional manager and has worked his way up to now being the President of Newby Management since 2020. Newby management oversees forty-five higher-end amenity rich properties primarily in the Southeast and Florida.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Rudy Curtler from Sawgrass Capital Partners. Andrew and Rudy discuss the ideology of having a win-win situation with tenants, the formation of different partnerships and the end goal being profitable while still sustaining a win-win between your investors and tenants.
Rudy began investing in real estate in 2007 as a means to diversify his investments as he had been overweighted in growth stocks. Rudy and his brother in law bought their first mobile home park almost by accident as they continued to get shut out of multifamily investing. Rudy and his team at Sawgrass Capital Partners are taking a unique perspective on the mobile home park industry by exploring 3D printed housing. By vertically integrating the construction of 3D homes, they would be able to fill vacant lots inside of their portfolio of mobile home parks.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at http://AndrewKeel.com/.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Andy Tallone from CCI Investments. Andy and Andrew discuss several topics related to passive mobile home park investing. Andy talks about what he thinks the perfect Mobile home park looks like, also why he likes tenant-owned homes over park-owned homes and how inflation will impact the real estate industry and mobile home parks specifically.
Andy is currently the Vice President of CCI Investments, LLC. He is a licensed California Real Estate Broker and a Broker-Associate with CCI Investments. Andy started in residential real estate at the age of 22 and gained experience in real estate auctions soon thereafter. Andy got his Brokers License in 1991 and opened Sierra Pacific Properties in San Jose, CA doing residential real estate, land deals and real estate development. From there, he moved on to Dutra Realty, who at the time was the largest independent real estate firm in Alameda County. CCI Investments currently manages over 50 Mobile home parks and has turned around over 300 Mobile home parks.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership.
Find out more about Andrew's story at AndrewKeel.com.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:25 - Andy's background and journey into real estate
03:50 - Andy and Robert's current parks and their clients' parks
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Christopher Nelson of Thrive Communities. Andrew and Christopher discuss Thrive Communities and how Thrive uses certain strategies for growth in the manufactured housing community space. Christopher also shares his journey into real estate and why mobile home parks are a good investment opportunity.
Christopher Nelson is the Co-Founder and Principal of Wealthward Capital, a real estate private equity investment firm. Wealthward Capital invests in cash flowing, institutional grade assets - such as mobile home parks, apartment buildings and ATM's. His focus is meeting with operators and finding the next investment opportunity. When not looking for cash flowing investment opportunities, Christopher is spending time with investors educating them on building thriving passive income portfolios.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully i
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Lee Meekcoms, from Parkbridge Capital Group. Lee and Andrew discuss many mobile home park related topics including: the future of interest rates, the demand for affordable housing, expense ratios associated with owning Mobile Home Parks, and passive investing tips for Mobile Home Park investors. Andrew and Lee also awards us advice for recessions and the current mobile home park investing climate.
Lee initially entered the real estate investing arena in the apartment and self-storage sectors with a private equity firm based in the northwest. He later formed Parkbridge as an affiliate company in the mobile home parks and RV resort investment business. Lee's company was instrumental in the affiliate growing to over 60 communities across 13 states and 28,000 mobile home sites. Lee participated in the first CMBS (conduit) financing in the United States, in the early 1990's resulting in $106 million in financing for his affiliate company.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 total 5-star reviews by the end of 2022, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Jim Glasgow of Palace Way Management. Jim and Andrew have a great discussion about various topics including: property zoning needs for manufactured housing, different housing types and the need for affordability, ground up development processes, budgeting within a ground up mobile home park development and also what backlogs and supply chain constraints there are in the current construction market and how this is effecting real estate.
Jim has over a decade of experience in real estate investing and syndication. He also has experience on the corporate side as an executive and business owner. His experience in real estate includes residential properties, mobile home park investing, commercial real estate properties, land, real estate development, and construction. He is a general partner at Palace Way Management and Palace Way Syndicates and is currently developing mobile home parks and industrial business parks in Texas.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:40 - Jim's journey into real estate and an overview of his portfolio
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with MHP legend Mike Conlon. Mike is currently leading Affordable Communities Group, also known as ACG, with his vast knowledge of the manufactured housing industry having been in it for over 15 years. Andrew and Mike discuss the future of the mobile home park industry and how it will fare with our potentially rocky economy. Mike also answers Andrew's questions about property managers, mobile home park investments versus apartment investments, and mobile home park value-add components.
Mike Conlon is President and CEO of Affordable Communities Group, LLC who currently owns 44 mobile home communities and RV parks with approximately 6,200 spaces in 6 states. Mike is also the author of "Unconventional Wealth: How to Become A Main Street Millionaire Helping Others Get What They Need."
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,100 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Victor Alves of Vecno Capital. Victor shares his thoughts on why paying attention to the small details in regards to mobile home park property management is super important. Andrew and Victor also discuss the most important things they think passive investors need to look out for when investing into mobile home parks. Victor shares why budgeting out repairs ahead of time are important in the real estate industry and specifically mobile home park investing.
Victor and his wife Nina Alves are real estate entrepreneurs. Together, they founded Vecno Capital which is a vertically integrated real estate investment company. They have experience in managing and acquiring investment properties such as multi-family apartments, manufactured housing communities and single family homes.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:27 - Victor’s history and journey into the mobile home park industry
03:12 - His first mobile home park related education
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Steven Blank of Blank Family Communities. Steven shares his perspective on the future of the mobile home park industry, and the lessons he has learned through growing up in the mobile home park industry. Steven and Andrew have a great discussion on mobile home parks and how to be successful as a passive investor in the space.
Steven started in the mobile home park industry at the age of 15, working on a maintenance crew at Franklin Companies. In 2011, Steven stepped into the corporate side and learned the ins and outs of the mobile home park industry from his family’s mobile home park portfolio. He then proceeded to help grow two of the fastest growing MHP operators in the country and was involved in over 80 mobile home communities’ acquisitions and sales. He founded Blank Family Communities in 2019.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Chad Freeman from MHPinvestors. Chad has a unique perspective on the manufactured housing industry and the real estate businesses as a whole. He shares his insights on the future of the mobile home park industry, mobile home park investing, and the lessons he has learned throughout his time investing in real estate. Chad and Andrew discuss the hurdles the industry could potentially face, as well as the perks during recessionary times.
Chad has been a part of the real estate industry since 2005. He made the jump from residential real estate to commercial real estate and has overseen all aspects of a business. Chad, is a pilot currently and also is taking the lead in scaling his company MHPinvestors to new heights with his co-founder.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:21 - Chad’s story and journey into manufactured housing
05:50 - Chad’s first mobile home park and his current portfolio
11:11 - T
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Dan Gibson from 43 Properties. Dan answers Andrew's questions with a unique perspective, as he is someone who stumbled accidently into mobile home park investing. Dan is based out of St. Louis, MO and he along with his brother and father have learned a great deal from owning mobile home parks. Dan emphasizes the importance of keeping good documentation so it's easier when you sell, he also recommends sticking to the basics. In this episode Dan shares his tips for passive investors who want to invest passively as limited partners into the mobile home park asset class via syndications. Dan is passionate about helping people and doing a great job and it shows through his enthusiasm and expertise.
Dan has been investing in real estate for over 12 years now and is the CEO of his commercial real estate investment company based in St. Louis, MO. His company 43 Properties specializes in mobile home parks and self storage investments. He started the business with his Dad and brother and grew their company's portfolio to over $50 Million in assets under management.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Nick Najjar from Elephant Capital Partners. Nick Najjar is a promising mobile home park owner, entrepreneur, and real estate investor. He is passionate about the MHP space and has learned a lot in his first few years in the manufactured housing industry. Nick shares some of his lessons learned through direct mobile home park ownership along with his best tips for passive mobile home park investors. Nick also shares with us his opinions on the future of mobile home parks.
Besides being a mobile home park owner, Nick is an entrepreneur and passive investor. Nick is also a husband and father of four children. He’s a franchise owner of Real Producers Magazine and is the founder of Elephant Capital Partners. Elephant Capital Partners is growing at a rapid pace and they currently manage 5 mobile home parks with over 270 lots located throughout Missouri and Illinois.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Justin Donald. Justin is the author of “The Lifestyle Investor”, a book discussing non-traditional ways investors can create the lifestyle they want through cash flow investing. Today, Andrew and Justin discuss mobile home park investing in-depth. In this episode, the guys discuss what passive investors should look out for when investing into their first mobile home park. Justin Donald shares a few of his stories from his first mobile home park investment and what he has learned since in this alternative commercial real estate asset class. Justin Donald’s ethos is to create wealth without creating a job. Tune in for several golden nuggets and don’t forget to pickup a copy of “The Lifestyle Investor” book today!
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Glenn Esterson, one of the leading brokers in the mobile home park industry.
Glenn has over 20 years of experience as a real estate broker and in this episode he gives us his advice for limited partner investors getting started in the mobile home park space. Glenn and Andrew also discuss the current state of the mobile home industry given the recent woes in the economy with inflation and all. Glenn is the author of the Mobile Home Park Manifesto and is currently a Marcus and Millichap commercial real estate broker with a speciality in manufactured housing.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Denis Shapiro of SIH Capital Group. Denis has a unique background that has enabled him to build the skills necessary to be successful throughout his investing career. Today, Denis shares his background and previous experiences with Passive Mobile Home Park Investing Podcast listeners. On this episode Denis Shapiro offers advice to limited partner investors as he discusses his thoughts on the economic future of the mobile home park industry, inflation and interest rates in the United States.
Denis began investing in real estate in 2012 when the market was just beginning to recover from the global financial crisis. He built a cash flowing portfolio with alternative assets such as notes, ATMs, mobile home parks, tech startups, and commercial properties. He co-founded an investment club for accredited investors in 2019. Following the success of his investor club, he launched SIH Capital Group. SIH provides accredited investors with a simplified strategy to invest for passive income.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:32 - Denis Shapiro's background and journey
05:33 - Investing in a fund of fund with m
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Sumeet Makhijani of Easy Living Communities. Sumeet brings a unique perspective to mobile home park investing as he is a plastic surgeon with a deep passion for mobile home parks. Summit tells his story about how he got into manufactured housing, he also answers questions about his biggest infill project and why he chooses to invest in the midwest compared to coastal cities. Summit has his Master’s of Real Estate degree from Georgetown University and also has a medical career he manages on the side, Sumeet shares what he has learned in this episode of the Passive Mobile Home Park Investing Podcast.
Sumeet started off with a medical degree from the University of Tennessee College of Medicine. He completed an integrated plastic surgery residency program in New York and began a career as an Assistant Clinical Professor of Plastic Surgery at Columbia University. But, his passions didn’t just reside in medicine. Sumeet has always been interested in real estate. It is a family affair after all, since both of his parents worked in the industry. Not only is he the co-founder of Easy Living Communities, he is also the co-general partner on a 96-unit multi-family development in Nebraska, called Benson Mill.
Easy Living Communities focuses on acquiring value-add mobile home parks all over the country. They provide their homeowners with affordable housing that is both safe and clean. They also ensure their investors have dependable returns.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Gabe Petersen of Kaizen Properties. Gabe brings his unique perspective on manufactured housing, being that he has just acquired his second mobile home park. Today he shares his story of how he left corporate America so he could pursue financial freedom through real estate investing (mobile home parks and self storage facilities specifically). Now with two mobile home parks under his belt, he discusses the importance of property management, what he has learned from being a passive investor, and his company Kaizen Properties.
Gabe has had quite the transition in his professional life, he went from pursuing a philosophy degree at the University of Washington to dreams of law school and landing his first job in consulting. He went on to become a project manager and business analyst, then finally fell into wholesaling and flipping real estate in the Pacific Northwest. After that, everything fell into place for him as he settled into mobile home park and self storage facility investing, where he feels he fits best currently. Gabe also hosts the top ranked 'Real Estate Investing Club’ Podcast where he focuses on helping real estate investors take their businesses to the next level.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com (http://andrewkeel.com/) .
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 200 5-star reviews by the end of 2022, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Mr. Samuel Sells of Wild Mountain Capital. Sam shares his unique story of starting out in the military while also flipping houses, surviving and thriving in 2008, and the many lessons he has learned from his time investing in mobile home parks.
Sam Sells has a great mindset when it comes to real estate. He knows what to focus on when it comes to treating people right, but also making money. Those things don’t need to be mutually exclusive after all.
Sam is a retired US Air Force officer and combat veteran who founded Wild Mountain Capital in 2018 with his hero dad. The Wild Mountain team has individually owned, invested in, developed, or rehabbed 75 single and multifamily projects, and have 60+ years of commercial and residential real estate experience. Since 2019, the team has syndicated 20 development /rehab properties, creating equity growth, nearly twice the initial investment in less than two years. Projects include mobile home communities, apartment complexes, and self storage facilities.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Charlotte Dunford, the managing partner of Johns Creek Capital. Charlotte brings a unique perspective to mobile home park investing as she comes from humble beginnings being a first-generation American citizen and college graduate. After leaving China with just her belongings at age 16, she has come a long way to now owning over 20 mobile home parks. Today, she shares her journey as well as her processes for finding trailer park deals, property management, and her tips for passive investors. Charlotte has great insights for anyone interested in investing into mobile home parks.
Johns Creek Capital is an investment management company which focuses on mobile home park assets. They currently have over $4.2 million worth of total investor subscriptions and currently own 20 mobile home park investments.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Gabriel Hamel of Hamel Investments. Gabriel brings his enthusiasm and energy into answering Andrew’s toughest questions about mobile home parks including: his current acquisition criteria, what to look for in mobile home park utility infrastructure, the toughest hurdle he has faced through mobile home park ownership, and what passive investors need to look for when investing into mobile home park deals. Gabriel’s passion for mobile home parks is apparent when he talks about the future of the manufactured housing space along with the future of Hamel Investments and what makes them different.
Gabriel Hamel is a real estate investor with a passion for mobile home parks. Financial freedom has allowed him to amass a multi-million dollar real estate portfolio consisting of single-family homes, multifamily apartments, and our favorite: cash-flowing mobile home parks. Currently, he owns four mobile home parks and has three under contract right now.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park value add projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Jeremiah Boucher, the founder and CEO of Patriot Holdings. Jeremiah shares his story from starting out cold-calling and wholesaling mobile home parks to building his commercial real estate empire. Jeremiah also gives his advice about active mobile home park ownership along with several tips for limited partner passive mobile home park investors. Mr. Boucher shares his insights on what the “perfect” mobile home park looks like in his eyes and also touches on the stigma in manufactured housing. Jeremiah Boucher is passionate about the mobile home park industry and his passion shines through in this quick 20 minute episode.
Jeremiah is the founder and CEO of Patriot Holdings, which is an alternative commercial real estate investment firm based out of Las Vegas, Nevada. Patriot Holdings focuses on cash flow producing properties, including: mobile home parks, self-storage facilities, and industrial properties. The firm has over 20 years of experience in these alternative investment classes and has built up a portfolio of over $90 million in assets under management.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:18 - Jeremiah’s journey into mobile home park investing
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about the 20 items he learned after going to the Manufactured Housing Institute’s 2019 Land Lease Community of the Year; Memphis Blues which is located in Memphis, TN. UMH Properties is doing some wonderful things to help the mobile home park asset class shake free of the “trailer park” stigma. From what Andrew saw, UMH and everyone at Memphis Blues makes it apparent that the people are the most important part of their community. Today he shares twenty things he learned from Memphis Blues and UMH Properties.
Memphis Blues, formerly called Memphis Mobile City, is a gorgeous all-rental manufactured home community located in Memphis, Tennessee. It is currently owned by UMH Properties, which is a mobile home park REIT. The community went through a complete overhaul, completely shutting down for six years after flooding in 2011.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Demetre Booker and Gretchen Zucker of Elevate Commercial. The big topic today is “social impact” and “social responsibility” when it comes to mobile home park investing and management. Investing, managing, and operating mobile home parks isn’t just about the property, it’s also about the people. One would argue, it’s mostly about the people. Demetre, Gretchen, and Andrew talk about how to handle non-paying residents, how to look at a deal in a “socially responsible” way, and what “social impact” means for passive mobile home park investors. Demetre and Gretchen also tackle Andrew’s questions on the toughest hurdles they have faced in manufactured housing community ownership, their advice for limited partner investors, and their process of sourcing deals.
Elevate Commercial Investment Group is a real estate firm that focuses on acquiring value-add multifamily assets. They are a full-service, socially responsible, and vertically integrated and has either acquired, partnered, or consulted on over 1,300 work-force housing multi-family units, over 1,400 mobile home park lots, and over 113,000 sq ft of retail and medical office buildings since 2015. Demetre Booker Jr. is the Principal Partner of Elevate Commercial, a full service, socially responsible, and vertically integrated commercial real estate firm. Gretchen Zucker has a career working with social entrepreneurs. She works with around 4,000 entrepreneurs, in over 90 countries to blend profits with social impact.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Judah Aderet of Princeton Capital Group. Judah’s background is in finance and his experience with mobile home community lending gives him keen insights and a unique perspective. Andrew and Judah talk about tips for Limited Partner passive investors, Judah’s perfect mobile home park, and mistakes that new manufactured housing community operators make. Judah also shares his knowledge about financing mobile home parks for operators and investors. Andrew and Judah also talk about some tips and buzzwords that new passive investors might not be familiar with yet.
Judah is the Principal and Founder of Princeton Capital Group, a commercial real estate loan broker with a specialty in manufactured housing communities. Judah has closed 40 manufactured housing community loans over the last 12 months and 150 over the last five years!
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Kolman Bubis, a founding partner of Sunstone Real Estate Advisors (or Sunstone REA). Andrew and Kolman talk about what passive investors (Limited Partners) need to look out for prior to investing into the mobile home park asset class, in addition to what Kolman’s perfect mobile home park looks like. They also discuss Kolman’s advice for LP’s, and discuss Sunstone REA and mobile home park operations. Kolman also uses his background and expertise to answer questions about the future of the Manufactured Housing business as well as his personal vetting process for deal sponsors.
Kolman has been instrumental to the success of Sunstone REA in their completion of brokerage, capital placement and consulting assignments. He is also founding partner of Sunstone Mortgage Capital, a sister company of Sunstone Real Estate Advisors, founded in 2013. Before Sunstone, he worked at Marcus & Millichap, where he focused on the brokerage of mobile home park properties. Kolman helped clients with fine-tuning their property disposition, acquisition and investment strategies. He went to school at Indiana University and holds a Bachelor of Science degree in Public Finance.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Sydney Barker of Open Door Capital LLC. Sydney’s hard work and background in finance has helped her become the Vice President of Finance at Washington Street Properties. Sydney also is in the asset management division at Open Door Capital LLC, a mobile home park investment fund co-founded by it’s CEO Brandon Turner, who is also the host of the BiggerPockets real estate investing podcast. Sydney is also an active real estate investor and owner of SOHO Properties LLC.
Today, Sydney and Andrew talk about everything mobile home park investing. Including what her perfect mobile home park looks like, her toughest hurdles in the business and her thoughts on a $15 per hour minimum wage affecting the MH space. She talks about her experience with her first mobile home park acquisition, and gives some advice to new investors getting into the trailer park business. Sydney talks about impulse versus experience, and goes over the changes she’s seen in her first community since she started working on it two years ago. Sydney shares her vast knowledge on the manufactured housing space during this VALUE PACKED episode you won’t want to miss.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. It would mean the absolute world to me if you could help contribute to our reviews. Thanks ahead of time for making my day with your five-star review of the show!
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Jimmy Johnson of Sanddollar Communities. Jimmy shares his story about his unique entry into the manufactured housing industry. He also gives his advice for new passive mobile home park investors and active trailer park operators. Jimmy offers his expertise on a few items including: the future of the mobile home park industry and his process for hiring and employing great on-site managers. He also shares his insights on working with significant others.
Jimmy Johnson is the founder of Sanddollar Communities, which focuses on the sourcing of off market, direct to seller, mobile home parks. He has closed 34 mobile home parks in 14 different states. Jimmy also has founded Sanddollar Communities Management, a mobile home park property management firm that manages a growing portfolio of over 1,300 sites across the country. Jimmy lives in Tampa, Florida and is an avid boater & fisherman.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show!
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Ryan Groene, of Groene Capital. Ryan has had experience in every aspect of mobile home park investing and operations including finding, running, flipping, refinancing, and selling mobile home park communities. Ryan answers some of Andrew’s toughest and most interesting questions with his unique perspective and vast experience in the manufactured housing space. While he may be a part of the younger generation of owners and operators, Ryan is knowledgeable, eager to teach, and is excited to share what he has learned about the mobile home park industry.
Ryan started off his journey with a degree in finance after being a student athlete in college. He worked in the finance industry before diving into mobile home parks full time. His portfolio currently boasts nine mobile home parks with over 400 lots throughout the midwest and the southeast. He is also the Director of Operations for Buckeye Communities where he oversees the operations of over 500 lots throughout Ohio and Michigan.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Dylan Stewart and Alex Donnolo of Mavdon Investments. Dylan and Alex bring their youthful enthusiasm and excitement to this week’s episode as they talk about their first mobile home park deal, the future of Mavdon Investments, their due diligence process, and their journey into the manufactured housing industry. Don’t let their youth fool you, Dylan and Alex are very knowledgable on the mobile home park business. They share what they’ve learned and how they continue to learn about this evolving industry. Don’t miss all of the golden nuggets this episode has to offer!
Dylan and Alex have always had entrepreneurship in their blood. Separately, they were both in the single-family home investing business before partnering and forming Mavdon investments.
Their first mobile home park deal came about at the end of 2018 just outside of St. Louis, Missouri. They’ve gone on to close on six more parks. They currently own 117 lots and are closing on another 176 this month! They have created and maintained a fantastic team and their goal is to help educate others in the business.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks withCorey Woodruff of CMH Capital. Corey shares how his background in vacation timeshare sales gave him a unique perspective and edge when paired with his knowledge of manufactured housing. Andrew and Corey also talk about what they think the future of the manufactured housing industry will look like. In addition to sharing some insight on CMH Capital and what makes them different, Corey also talks about his perfect mobile home park and the toughest hurdle he had to face when getting into mobile home park investing. Corey shares some common mistakes he sees by other operators and he also shares his advice for passive investors who want to jump into the lucrative world of mobile home parks.
CMH Capital owns 1,600 lots with another 1,200 set to close over the next 60 days! Corey used to work as the President of Sales in the RV/ travel world before leaving his full-time, six-figure paying job in August of 2020 to go into mobile home park investing full time. Corey has 3 kids, and is getting married in August 2021.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,600 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park value-add projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions!
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with mobile home park owner/ operator Ian Tudor of the Archimedes Group. Ian is apart of the younger, next generation of mobile home park owner/ operators. He brings his unique experiences, background, and perspective when talking with Andrew on this episode about topics including: what his perfect mobile home park looks like, common mistakes made by new operators, and hurdles the manufactured housing industry faces moving forward. Ian offers new enlightening ideas and standpoints when giving tips to passive investors on today’s episode.
Virginia Tech graduate, Ian Tudor started his career in the financial world. He joined Parkway Properties, a class A office REIT, as a member of their investments analyst team. During his tenure at Parkway, Ian underwrote over $1B in acquisitions and dispositions as a senior investment analyst. Currently Ian works full-time on operating and growing the Archimedes Group manufactured housing community portfolio. He is the co-founder of both the Archimedes Group and Mobile Home Park Mentors, where he and previous podcast guest Ryan Narus team up to coach new mobile home park investors towards buying and operating their first mobile home park.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show!
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with one of his current business partners;Jon Carcone of 4 Brothers Commercial. Jon brings his own flavor and sense of humor to the episode as they talk about Jon’s journey into mobile home parks and real estate as a whole. Jon discusses what his perfect mobile home park looks like, and what he thinks the future of the industry looks like.
Jon Carcone attended Wake Forest University and majored in business. After graduating he worked for Corporate Executive Board (CEB), a management consulting company based in Arlington, VA. He rose in ranks at CEB before eventually discovering real estate in 2009 after purchasing property in Arlington. He eventually left CEB after learning as much as he could about the real estate flipping business, he then proceeded to buy and sell more than 200 properties since 2010. Andrew and Jon partnered up on their first deal in 2020, after realizing they each were pursuing two mobile home parks in the same town outside of Grand Forks, North Dakota. The two have partnered up on seven mobile home park acquisitions since then to date.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Charlie Ansanelli. Charlie is currently the principal of RockStack Capital, he is a former tech entrepreneur turned full-time mobile home park investor and operator. He owns and operates 11 mobile home parks comprising of over 600 units and over $20 million in current market value. In addition to mobile home park investing, Charlie is also an angel investor and enjoys mentoring other entrepreneurs or people new to the real estate investing space.
Charlie brings his knowledge and experience from not only real estate and affordable housing but also from his entrepreneurial projects including what he learned from start up: ParkPlease. Andrew and Charlie do a deep dive into what they want to see change about the stigma of mobile home parks and “trailer parks”. They also talk about Charlie’s advice for passive investors who are interested in this asset class, along with his views on the future of the manufactured housing industry. They also touch on Charlie’s perfect mobile home park and what makes RockStack different from other operators in the space. Listen in to get several golden nugget take aways from Andrew and Charlie!
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:40 - How Charlie got into the real estate business
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with manufactured housing community investment fund manager Mark Khuri. Mark is the co-founder of SMK Capital Management, an investment firm which provides investors with passive income and growth through the creation of partnerships in private commercial real estate opportunities. Mark has been investing in real estate for over 15 years and has transacted in over $1 billion worth of real estate, including mobile home parks, self-storage, multifamily, and others.
Today, Andrew and Mark talk about what the future of mobile home park investing looks like. They discuss Mark’s unique perspective as he provides his expert opinion on the industry direction with possible inflation on the horizon. They also talk about Mark’s niche alternative investments, including ATM’s. The guys also touch on the $15 minimum wage, Mark’s perfect mobile home park, and the story of how Mark got into real estate and mobile home parks specifically.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks withBrad Rymer about mobile home park investing, tips for getting into the manufactured housing industry, and stories from his point-of-view as the president of Cloverleaf Capital Group and formerly as the CFO of one of the top five manufactured home community portfolio owners in the United States (RV Horizons).
Currently based out of Denver Colorado, Brad Rymer has been president of Cloverleaf Capital Group. Cloverleaf Capital is a mobile home park loan broker which specializes on loans under $1 million dollars. Prior to co-founding and becoming President of Cloverleaf, Mr. Rymer served as the CFO of RV Horizons. At RV Horizons, he had many responsibilities including serving as the company's Business Intelligence Officer in 2018. Brad received an MBA from Regis University and a BA in Fine Arts from Wabash College and began his real estate career with Marcus & Millichap in 2000 as a specialist in sales and marketing.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show!
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks withMario Dattilo of The REA Group. Mario owns and operates mobile home parks throughout the southeastern United States. Andrew taps into Mario’s expertise and asks him about his take on important questions Limited Partner (LP’s) investors should ask an operator prior to investing with them. They also discuss what LP’s should look out for when investing into mobile home parks and the future of the economy and how mobile home parks could be affected. Mario has unique experience operating and managing manufactured housing communities in the state of Florida, which is known for it’s hurricanes as much as it is known for it’s sunshine. Mario explains how he hedges the risks of investing in such a natural disaster heavy state.
Mario Dattilo, originally born in Minnesota, currently resides in the Sunshine State of Florida. With over 13 years of real estate investment experience under his belt, he is an expert in the industry. That experience ranges from being a managing partner of a real estate brokerage to co-managing REA USA’s residential, multifamily, and commercial portfolios since it was first established. At REA USA, he oversees acquisitions, management of general operations, and investor relations.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Lane Kawaoka of SimplePassiveCashflow.com. Lane shares his take on passive real estate investing as someone who invests mostly in multi-family rentals. From that standpoint, Lane talks about advice for LP’s (limited partners), his tips on vetting general partner operators (coming from an operator), and LP tax benefits. He also shares how his investing practices have changed after some big life events recently.
Andrew and Lane also go over some of the most common questions that are asked of them, such as:
- When does the cashflow start?
- What happens when a natural disaster strikes your mobile home park?
They also share their opinions on the future of the economy and how mobile home parks and affordable housing in general will fair during a down economy (recession).
Lane Kawaoka has been investing in real estate for over a decade and is the owner of CrowdfundAloha.com, SimplePassiveCashflow.com, ReiAloha.com, and controls over 4,200 rental units. He uses his expertise in civil engineering, construction management, and industrial engineering to reverse engineer the wealth building strategies that have gotten him to where he is now. He shares that knowledge in his Top-50 Investing Podcast which can be found at https://simplepassivecashflow.com/.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across over ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Dylan Marma of The Requity Group. Today, Dylan gives you his unique take on taking over and converting park owned mobile home communities. Dylan also gives his advice for new passive investors and what they should look out for when diving into the manufactured housing community asset class. Andrew and Dylan take a look to the future of mobile home parks and discuss what makes The Requity Group different from other real estate investment companies.
Dylan is a principal of The Requity Group, a vertically-integrated real estate investment company focused around the acquisition and operation of mobile home parks and multi-family real estate. He also manages investor communications, acquisitions, and plays a very active role within TRG Living, the in-house property management company. He has had over six years of real estate investing experience and he has been the lead sponsor or JV partner on $60 million in real estate transactions. In 2020 Dylan received his CCIM designation and is an active member of the Florida West Coast District.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across more than ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks withBrady Hanna and Jeff Boor of Legacy Investments Group. In today’s lively conversation, Andrew, Brady, and Jeff talk about their journey into manufactured housing community management. The guys discuss everything from attending Frank and Dave’s MHU (Mobile Home University) Bootcamp, to how Brady and Jeff operate the day to day operations in their business. Brady and Jeff bring their unique experiences and interesting case studies to share with listeners. They also share their advice on how best to get into the mobile home park business, along with their secrets to success.
Just a few months ago, Brady retired from the corporate world, where he worked as Executive Vice President for a Financial Services company for over 15 years. He helped build that company from 4 employees to over 120 employees with an annual revenue of $60M. While working to build that company, Brady was also building-up a portfolio of rental properties. He started a successful flipping and wholesaling business, built new construction homes and acquired 5 mobile home parks with his partner Jeff Boor. Jeff has a background in corporate consulting where he consulted Fortune 500 companies on implementing projects for over 20 years, before escaping from the rat race & retiring. During his consulting days, Jeff built up a portfolio of single family rental houses and now runs the operations for the mobile home parks. He has been in real estate for over 13 years, owns 10+ SFR’s, and finally retired form the rat race to manage the portfolio. Over the last year Jeff & Brady have filled over 50 lots in their mobile home park’s as they specialize in turning around neglected parks through value add initiatives.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show!
Talking Points:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Kurt Kelley of Mobile Insurance. Kurt talks about the top liability concerns mobile home park investors need to look out for in their properties. Andrew and Kurt also talk about park-owned homes and LLC’s, cyber security liability insurance, Kurt’s idea of the perfect mobile home park, and his advice for new people getting into the industry.
Kurt has worked with Mobile Insurance since the mid-90’s. Mobile Insurance has experienced wonderful, steady growth and has a high client retention rate since its formation. Kurt is also the founder and publisher of a real estate publication called, “Manufactured Housing Review,” which is dedicated to professionals in the mobile home industry. He is also the managing member and co-founder of the American Insurance Alliance, which is an association of insurance agencies that specialize in the manufactured housing industry, the alliance has total premium volumes over $180,000,000!
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show!
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:53 - Kurt’s story and his journey into the manufactured housing industry
03:32 - The items that passive investors should look out for, which provide the most liability concern
04:49 - The items which present the most risk and have the most claims every year in mobile home parks
08:22 - The hazards and the real risks that they pose to mobile home park owners
09:43 - dogs and trampolines
11:57 - Hurricane and tornado exposure
15:50 - The insurance policies that you recommend that an operator have on a typical mobile home park acquisition
17:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Jonathan Tuttle of Midwest Park Capital. In this episode, Jonathan lends his thoughts and opinions on the following topics: his idea of the perfect mobile home park, private utilities versus public utilities, and what passive investors need to look out for when investing in the mobile home park asset class. Jonathan also shares the story of how he got into manufactured housing and details about Midwest Park Capital. Jonathan also shares insider information about the Mobile Home Wealth Academy that he founded.
Jonathan is the Head of Acquisitions at Midwest Park Capital, a brand new mobile home park investment fund based out of Chicago, Illinois. Jonathan has mobile home park ownership in his blood, he grew up in the business as his father owned communities in Illinois. Previously, he was Vice-President at Miller Chicago Real Estate, a leading commercial real estate brokerage firm based out of Chicago. Before that, Jonathan served as the President of the Midwest Division for Yale Realty & Capital Advisors.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park Capex projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
01:36 - Jonathan's journey into the world of manufactured housing
03:37 - The management of his father's parks
06:03 - Important things passive investors need to look out for when investing
08:49 - State issues with Illinois
09:34 - The perfect mobile home park for Jonathan
10:38 - Private utilities versus public utilities, and the types of deals Jonathan is interested in
11:55 - Mobile Home Wealth Academy
15:47 - The long term plan with Midwest Park Capital
20:12 - Jonathan's current parks
21:26 - M Shapiro and third party property managers
23:41 - The type of parks Jonathan's fund is targeting
25:45 - The long term plan for Jonathan
26:28 - Getting a hold of Jonathan
27:34 - Final tip for passive investors
28:30 - Conclusion
Links & Mentions from This Episode:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Paul Moore of Wellings Capital. Andrew and Paul talk about the important lessons that Paul has learned from the days when he was just a “spectator” to now where he has really become a true “investor”, and what that really means. They also talk about the Wellings Capital funds, his multi-family investing book: “The Perfect Investment”, and his tips for helping passive investors interested in mobile home parks.
Paul Moore is the managing director of three commercial real estate private equity investment funds at Wellings Capital. Paul has founded multiple investment and real estate development companies. He has appeared on big networks such as HGTV, Fox Business, and BiggerPockets, as well as co-hosting two podcasts: the ‘How to Lose Money’ podcast, and ‘The Art of Investing’ podcast.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about
Andrew’s story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:50 - Paul’s story and how he got into manufactured housing
05:35 - Paul’s multi-family investing book
08:36 - The most important thing for passive investors
11:57 - Vetting an operator
16:37 - Wellings Capital
19:14 - Wellings Income Fund I and II
21:57 - Case Study
27:20 - Paul’s perfect mobile home park
30:40 - The future of the economy and how mobile home parks will weather the storm
33:11 - $15 an hour minimum wage
34:26 - Getting a hold of Paul
34:58 - Final tip for passive investors
36:29 - Conclusion
Links & Mentions from This Episode:
Wellings Capital: https:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew Keel discusses how to properly vet a mobile home park deal sponsor. Using his experience, and also gathering tips from active passive investors, Andrew goes over ten valuable tips you should use when vetting a mobile home park operator. Andrew's tips range from background checks to contingency plans and everything in between. Making a passive investment into a mobile home park is a big decision and vetting your operator can save you a lot of trouble and ultimately provide you a better return on the investment.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:11 - Number 1: Review and verify operator track records
01:40 - Number 2: Speak with investor references
01:50 - Number 3: Meet with the operator in person
05:13 - Number 4: Drive through the park
06:07 - Number 5: Review reports and financials
07:00 - Number 6: Background check
07:20 - Number 7: Review the operator on social media
07:33 - Number 8: Ask your known operator
08:01 - Number 9: Review proformas
12:14 - Number 10: How is the operator sourcing deals?
13:13 - Conclusion
Links & Mentions from This Episode:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Frank Rolfe. Frank has been an investor in mobile home parks for nearly two decades. He has owned and operated hundreds of mobile home communities and is currently ranked as the 5th largest mobile home park owner in the United States with over 250 communities spread out over 25 states. Frank is also a top educator in the mobile home park space through his involvement with Mobile Home University, also known as MHU.
Today, Andrew and Frank talk about everything from current events (COVID-19) and how it has affected the mobile home park business, to lessons that Frank has learned in his experiences in the trailer park business. Frank shares some of the knowledge he has gleaned from his background in business and economics, as well as his insights on what the future holds for the mobile home park industry. Questions include: What happens if interest rates go up? How will a $15 per hour minimum wage affect mobile home park investors? How does inflation affect mobile home park owners? What happens to mobile home parks if the US dollar loses it's place as the world's reserve currency? What has been the toughest point in time for the mobile home park business?
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show!
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:35 - Frank's background and how he got into manufactured housing
03:30 - Glenhaven in Dalla, Texas
05:38 - Important things passive investors need to know about investing in mobile home parks
06:50 - Value Add versus Stabilized Play
10:33 - Secondary markets and tertiary markets during downturns
13:45 - COVID and portfolio
16:55 - Current state in the market cycle
20:30 - Difference in the market from the 90's
23:00 - Most difficult time in the business within the last 20 years
26:40 - More about 2006
28:55 - Mobile homes during inflation
34:05 - Current events, the US dollar and the world's reserve currency
39:10 - How a $15 minimum wage will affect mobile home parks
43:00 - Getting a hold of Frank Rolfe
44:05 - Conclusion
Links & Mentions from This Episode:
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Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Ekaterina Stepanova. Ekaterina has over twelve years of experience in operations, project management, advertising, and production. On top of that, she has several years of experience in residential real estate investing, having also worked for Ogilvy, BBDO, Citigroup, and Columbia Artists. She currently is the organizer and leader of the MHP Tribe, a mobile home park investing community and Facebook group. Today Ekaterina is here to talk about the future of the MHP industry and how she got into mobile home park investing. She will also share stories and lessons she's learned on her mobile home park ownership journey.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:20 - Ekaterina's background
03:48 - Turnkey rentals in Memphis
06:12 - M2K Partners and managing parks
12:20 - Ekaterina's criteria for deals
14:30 - Managing parks that are far from each other
16:48 - Direct-to-owner Deals
18:40 - Number of deals taken full-cycle and their process for fixing them up
19:50 - Important things passive investors need to look out for
22:10 - Vetting operators
24:00 - Andrew's expansion on a huge tip for LPs
24:34 - Affordable housing and the real estate environment
29:00 - Ekaterina's perfect mobile home park
31:00 - How Ekaterina's team's process for management for new sites
34:22 - The value proposition at M2K Partners and what makes them different
37:00 - The MHP Tribe
39:30 - How to get in touch with Ekaterina
40:04 - Conclusion
Links & Mentions from This Episode:
MHP Team website: https://www.mhpteam.com/
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Byron Sellers of Mobile Home Elite Investors. Byron is a mobile home investor and educator based out of Chicago, IL.
After listening to a real estate podcast featuring a segment about mobile home investing, Byron Sellers and his partner, Sharnice Williams, decided to dive in deeper to mobile homes. The couple was very interested in real estate investing but just didn't have the cash needed to get started. After learning about mobile home investing on the podcast it made them realize just how great of an opportunity it would be to get started, with very little money needed upfront. Together, they studied the mobile home investing space and raised enough capital to launch Travae Scott Investments LLC in 2018. They have been taking the mobile home scene by storm and growing at a tremendous rate including becoming mobile home community owners in 2020. Byron and Sharnice also have an education program teaching people how to invest in mobile homes at a large scale.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:58 - Byron's history and journey with mobile home park investments
04:50 - How passive investors get involved in mobile home investing
06:49 - A technique on how to find operators
07:44 - $50,000 business plan scenario
09:43 - Working with mobile home park owners
10:50 - The best ways to find mobile home deals
12:13 - Average purchase price for mobile homes
13:36 - The process of a "typical deal"
19:10 - Average lease with an option to purchase
20:11 - Dodd-Frank and SAFE Act
21:15 - The biggest risk factors in mobile home investing
24:00 - Case study for a passive investor who wants to flip homes
25:17 - Byron's perfect mobile home park
27:40 - Cast study example of a recent deal
30:10 - Getting a hold of Byron
31:03 - Backstory of Andrew and Byron's relationship
32:05 - Conclusion
Links & Mentions from This Episode:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew Keel talks with Charles DeHart, a mobile home park investment Fund Manager and Broker with Marcus and Millichap. Andrew and Charles do a deep dive into Charles' background in military and private security and what brought him to real estate investing. They dive into the transition Charles made into the world of mobile home park investing while living overseas! Charles has an amazing story to tell, building and managing a mobile home park empire worth over $75,000,000! Andrew and Charles talk about how Charles met Kevin Bupp and how they formed Sunrise Capital, a mobile home park investment fund. They also talk about common mistakes in underwriting, how to properly vet a mobile home park operator, and what you need to do in order to manage upwards of twenty on site mobile home park managers at once!
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
00:52 - Charles DeHart's background and his MHP story
08:20 - Building and using a database
10:37 - Forming Sunrise Capital Fund with Kevin Bupp
15:54 - The story of Sunrise Capital
18:38 - Mis-managed mobile home parks
20:50 - The models that Sunrise worked with in the beginning
22:35 - Transitioning from military/security work to the MHP business
26:17 - Becoming a broker
28:38 - Common mistakes in the underwriting of mobile home parks
31:30 - Capitalized vs not-capitalized income
36:36 - The future of the economy
40:15 - Their first park in and out of the $10 million fund
44:20 - Charles' model for their park owned homes
48:30 - The hardest part about park owned homes
50:10 - What Passive Investors need to look out for when investing in mobile home parks
50:50 - Vetting operators
53:42 - Charles' perfect mobile home park
56:15 - Getting a hold of Charles
57:33 - Conclusion
Links & Mentions from This Episode:
Charles
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Jeff Cook, the CEO and CFO of Cook Properties NY. Today Andrew and Jeff talk about what it's like to own real estate in the state of New York and what it's like to own affordable housing in the state given the current landlord-tenant laws. Jeff talks about how COVID-19 has impacted his business and he also discusses the up's and down's he has faced in the manufactured housing community business. Jeff gives his advice to passive mobile home park investors and talks about mobile home park financing options as well as his opinion on the current state of the mobile home park asset class.
Cook Properties NY is a top 50 owner of Mobile Home Parks in the United States. Cook Properties recently launched a $20 million dollar mobile home park and self storage investment fund focused on acquiring mobile homes communities and self storage facilities in Massachusetts, New York, Ohio, and Pennsylvania. Cook Properties NY was formed in 1997 and they currently own and operate 26 mobile home communities with over 2,000 lots, primarily across the state of New York.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:44 - Jeff's background and history in manufactured housing
03:18 - The recessionary environment in 2008
04:38 - Important things passive investors should look out for when investing in mobile home parks
05:29 - Rent control and landlord-tenant laws in New York
07:02 - Purchasing properties and park owned homes
09:00 - Trends in the competition
10:43 - Toughest hurdle in the mobile home park business
11:59 - The current state of the manufactured housing industry
13:01 - Retailing homes, buying trends
14:00 - Jeff's perfect mobile home park
14:50 - Jeff's community's performance during COVID
17:03 - Financing in order to secure communities
19:08 - Cook Properties: value proposition, and what makes them different
20:36 - Getting ahold of Jeff
21:07 - Conclusion
Links & Mentions from This Episode:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Mobile Home Park Investor and Operator Paul Stout. Paul is the founder of KP Asset Management and they specialize in mobile home parks and self-storage facilities in Indiana, Illinois, and Ohio. When Paul decided to get into real estate investing, he started out like all of us: diving in deep and doing the necessary research into different asset classes that allow scale. When Paul found mobile home parks, he knew he had found his niche. He dove in head-first, by investing in a mobile home park and managing it himself to learn the business.
Today, Paul offers up some great advice on what sort of things he looks for when he is researching a potential mobile home park acquisition. Paul tells us about how he got into the mobile home park business and what hooked him about this asset class. Paul also gives his advice for new passive investors who are looking to invest in the mobile home park asset class.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:04 - Paul's story and journey into the business of manufactured housing
04:30 - Advice for passive investors: things to look out for
08:30 - Paul's research into the market
21:40 - The toughest hurdles for Paul
25:28 - The state and future of manufactured housing
31:10 - Strengths and weaknesses for KP Management in terms of management
35:00 - Paul's perfect mobile home park
37:05 - Experience with manufactured home loans
43:00 - Proforma mistakes
46:50 - Infill
48:57 - Getting a hold of Paul
49:20 - Conclusion
Links & Mentions from This Episode:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Rhett Trees. Rhett is the founder, chief executive officer, and chief compliance officer at Seneca Capital Partners. He loves and specializes in niche, non-correlated assets in sectors that are not well-understood, not over-capitalized, and in niches that don't fit into pretty little packages and traditional institutional asset classes. Rhett is a seasoned veteran in the mobile home park asset class, having been apart of a mobile home park portfolio exit to Blackstone, circa 2019. Rhett was kind enough to share lessons he has learned along the way in the mobile home park business. Today Andrew and Rhett talk about Rhett's biggest hurdles in the industry, how spirituality has shaped the way he does business, how COVID has affected Seneca's portfolio, his experience with third party managers, and what his perfect mobile home park looks like.
Prior to starting Seneca, Rhett Trees was an equity partner at Caddis Capital Investments, the sponsor of Trico Fund III. In 2012 he was a principal at The True Life Companies, a company that was known to be one of the premier providers of land and lots to American's home builders. He graduated from the Kelley School of Business at Indiana University with a double major in Entrepreneurial Management and Marketing. He completed the Real Estate Executive Program at Harvard Business School and finished off his studies abroad at the University of London in England.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
02:35 - Rhett's story and how he got into manufactured housing
04:50 - Lessons learned from Caddis Capital Investments
08:45 - Advice for people just getting into passive investing
13:50 - The biggest hurdle in Rhett's journey
19:42 - How COVID has affected their portfolio
28:39 - What does Rhett's perfect mobile home park look like?
31:00 - Value-prop for Seneca
42:35 - Shapiro and other third party managers
49:48 - Getting a hold of Rhett
51:50 - Conclusion
Links & Mentions from This Episode:
Rhett Trees, phone: 303-888-2826
Rhett Trees, email:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with one of his biggest mentors; Jefferson Lilly with Park Avenue Partners. Jefferson talks about his first mobile home park deal in 2007, the demographics information on what would be his perfect mobile home park, what makes Park Avenue Partners different, and his predictions of where the mobile home market will be in 2021 and after.
Jefferson is an expert and educator in the mobile home park asset class. As a founding member of Park Avenue Partners (and it's predecessor, Park Street Partners), he is responsible for their strategic direction, property operations, and new acquisitions. In this episode, Jefferson shares his expertise on the manufactured housing industry and also shares resources like his podcast and his Mobile Home Park Investors LinkedIn group.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
02:14 - Jefferson's background in the business
06:22 - Jefferson's first park in 2007
09:37 - The most important thing passive investors (LPs) need to know or look for (risks)
14:35 - The toughest hurdle
17:19 - The current state and future of the mobile home park industry & manufactured housing
21:55 - Value-add implements Jefferson uses in his new acquisitions
25:30 - Jefferson's perfect mobile home park
27:56 - The value proposition at Park Avenue Partners and what makes them different
29:40 - Getting a hold of Jefferson Lilly
37:39 - Conclusion
Links & Mentions from This Episode:
Mobile Home Parks 2.0 presentation: https://www.mhvillage.com/pro/community-owner-presents-mhp-2-0/
Mobile Home Park Investors LinkedIn Group: https://www.linkedin.com/groups/131404/
Jefferson Lilly podcast: https://podcasts.apple.com/us/podcast/mobile-home-park-investors-jefferson-lilly-brad-johnson/id1069263193
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Elevation Capital Group's co-founder, Ryan Smith. Ryan has been in manufactured housing community ownership for over fifteen years and he currently is raising funds for Elevation Capital's 8th fund! Elevation Capital Group focuses on two main types of alternative real estate investments: manufactured housing communities and self storage facilities.
In this episode, Andrew and Ryan discuss why Ryan chose to get into mobile home park ownership, they also discuss the perks of investing in the lucrative niche of self storage facilities. Ryan also talks about the importance in vetting your deal sponsors and shares his thoughts on where we are in the current MHP business cycle. Ryan also shares his expertise on mobile home park ownership and his predictions about the future of the industry, COVID-19 and all!
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. We have a goal of hitting over 100 five-star reviews by the end of 2021, and it would mean the absolute world to us if you could help contribute to that. Thanks ahead of time for making our day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
02:01 - Ryan's background in the industry of manufactured housing
05:00 - The most important things passive investors need to look for when investing into the mobile home park asset class
07:37 - Tips on vetting a sponsor
10:21 - Ryan's thoughts on the current cycle and the current state of the manufactured housing industry
15:04 - The impact of COVID and what could happen next year
16:11 - Ryan's perfect mobile home park
17:26 - The value proposition at Elevation Capital and what makes their funds different
20:00 - Traveling out to properties
22:20 - The self-storage asset class
27:10 - Building and developing mobile home parks and self-storage
29:40 - Getting a hold of Ryan
30:31 - Conclusion
Links & Mentions from This Episode:
Ryan Smith phone: 407-602-7662
Ryan Smith email: ryan@elevationcg.com
"Trailer Cash: How To Cash In On the Low-Income Housing Investment Boom" by Jamie Smith:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with long time manufactured housing infill expert and consultant Ken Corbin. Ken has been working with manufactured housing communities, mobile home dealers, and MHP developers for over forty years. During his time in the space he has branched out to work in five different countries and on three different continents. He has been labeled "Professional Speaker of the Year" three times and has a unique high-energy presence during his professional presentations.
Today Andrew and Ken Corbin will be talking about his illustrious background, his personal value add infill process, the importance of staging, different value add necessities, and his advice for new operators and passive investors. Ken has a wealth of information and has learned so much over his time in the mobile home park space. Listen in as Andrew picks Ken's brain for details on Ken's manufactured housing infill process.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
02:05 - Ken's professional background
07:00 - The infill process (one of the more labor intensive parts of the business)
17:05 - Costs in the business, and value add necessities
25:02 - What new operators should expect for infill rates
26:46 - How long should a home sit when it's for sale
30:05 - Top pieces of advice for new investors
31:58 - Advice for people looking for a syndicate
36:05 - Getting a hold of Ken
37:39 - Conclusion
Links & Mentions from This Episode:
Ken Corbin's Website: https://callkencorbin.com/
The Manufactured Home Show: https://callkencorbin.com/manufactured-home-show/
Ken's phone number: 888.823.4945
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks to the co-founder and managing principal of Pioneer Communities, Luke DeGrossi. Luke offers his knowledge about the mobile home park industry for potential, new, and seasoned investors. Andrew and Luke chat about "The Broken Window Theory," value-add infill projects, cap-ex projects, and the business model of Pioneer Communities. Luke also shares some stories about his ideal mobile home park, his worst experience within a trailer park, and his advice for passive investors who want to invest in mobile home parks. Andrew also asks Luke about his endgame goals and his opinions on the hardest parts about the industry.
Luke DeGrossi is Co-Founder Chief Acquisitions Officer at Pioneer Communities where he is responsible for monitoring, maintaining, and reviewing Pioneer's pipeline, as well as underwriting and modeling cash flows for potential acquisitions. Prior to co-founding Pioneer Communities, Luke worked at HKS Capital Partners, New York City's premiere commercial finance brokerage with over $16 billion in transactions. As an associate in their capital markets group, Luke was responsible for structuring debt and equity capital across nationwide commercial transactions spanning permanent financing, ground-up construction, bridge, mezzanine, and acquisition finance. Prior to HKS, Luke worked as an Analyst at RPM Development Group, New Jersey's leading affordable housing developer, where he managed the daily operations, finance, and accounting for a portfolio of properties in excess of $950,000,00 in value.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:00 - Luke's background and how he got into the industry
03:28 - Luke's first property
04:50 - The hardest part about the business
09:35 - Cap-ex projects
12:07 - Luke's business model and their ideal mobile home parks
14:17 - The most important things passive investors should look for
15:51 - Value-add advice for new investors interested in mobile home parks
18:40 - The Broken Window Theory
20:55 - Pioneer Communities offices
21:51 - Park-owned homes
23
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Chris Rood, the number one real estate wholesaling coach in the US (and Canada). He is also the principal at Rood Real Estate and ChrisRood.com. Chris is a full time real estate investor, coach, mentor, sales professional and entrepreneur. Today Andrew and Chris talk about Chris' experience in the trailer park industry as well as his real estate investing background. They also discuss why Chris Rood loves the mobile home park business, what his biggest struggles have been and his desired end game. Chris also discusses what he looks for in partnerships with passive investors for mobile home park acquisitions. Chris shares his wisdom on everything from his "Make Trailer Parks Great Again" hats and apparel to his opinion on window AC units in this great interview on the Passive Mobile Home Park Investing Podcast!
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
01:01 - Chris' background and what he loves about the business
10:43 - Collections during COVID
13:11 - 21st Mortgage cash program
14:14 - Chris' biggest struggle so far
17:20 - Flood zones
19:00 - Chris' end game
20:52 - Window Units
22:52 - Things to look out for with an investor
28:44 - Getting a hold of Chris
30:10 - Conclusion
Links & Mentions from This Episode:
Chris Rood Coaching Website: https://coaching.chrisrood.com/new-home/
Chris Rood LinkedIn: https://www.linkedin.com/in/chris-rood-72a76276/
Chris Rood Instagram: https://www.instagram.com/realestaterood/?hl=en
Chris Rood YouTube: https://www.youtube.com/channel/UCPg2GbV7ZanrL7xhw-h0W5g
Chris Rood Facebook: https://www.fac
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with passive investor David Shirkey about his experience in the mobile home park industry. David is a passive mobile home park investor and has first hand knowledge for anyone who is thinking about investing in trailer parks. Today Andrew asks David about his preferences when it comes to the following: syndications and investment funds, operator due diligence and preferred methods of communication with operators. In addition, he talks about the filters he uses when he coordinates with operators on deals that he likes to invest in and discusses mistakes he's made in the passive MHP investing arena. David also talks about a few additional passive investments he has made in alternate investments outside of the mobile home park asset class.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:20 - Welcome to the Passive Mobile Home Park Investing Podcast
01:53 - How David got started
03:27 - David's preference in funding
06:17 - David's due diligence process
08:03 - What David looks for when looking at a deal
11:00 - David's "worst" mobile home park deals
14:14 - His preferred method of communication
16:24 - Mistakes that David learned from
20:54 - Depreciation benefits of investing in mobile home parks
24:35 - Alternate investments
29:43 - Tips for new investors: choice of investments
31:19 - Important things passive investors should know about the mobile home park asset class
33:16 - How to find operators to invest through
36:10 - Getting a hold of
36:45 - Conclusion
Links & Mentions from This Episode:
David Shirkey, LinkedIn: https://www.linkedin.com/in/davidshirkey/
David's email address: DShirkey@Orbitform.com
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Skyler Liechty, a third generation mobile home park owner and founding member of American Dream Communities. Throughout his career Skyler has overseen a multitude of turnaround, stabilized, and value-add mobile home communities. Skyler is an expert in the space and has his mobile home retailer, broker and installer licenses in a number of states. His success in the industry has led him to a total pad count of nearly 5,000 mobile home lots. Today, Andrew and Skyler talk about the difficulties in finding a good mobile home park management team, trailer park risk assessments, why Skyler prefers not to buy used mobile homes, Skyler's preferred percentage of park-owned vs. tenant-owned mobile homes, Skyler's management company and investment fund, as well as what passive investors should look for when investing in mobile home parks.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
00:28 - Skyler's introduction
01:47 - How Skyler got into manufactured housing
02:42 - What the '08-'09 recession was like
03:42 - The hardest part about this asset class
04:35 - Skyler's management company
05:26 - Ideal community & mismanaged communities
09:18 - What passive investors should look out for and the cost of a used home
14:38 - The terms of Skyler's fund
17:15 - Park-owned homes versus tenant-owned homes and converting
23:53 - Putting money into the fund and signing recourse
25:28 - 10-year plan: goals and exit
26:15 - GP and LP splits and fees
28:00 - Skyler's team
29:40 - Skyler's first deal and great deals
35:43 - Getting a hold of Skyler
36:10 - Conclusion
Links & Mentions from This Episode:
Skyler's email: skyler@americandreamcommunities.com
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast Andrew talks to mobile home park owner, operator and lawyer: Ferd Niemann. Today Andrew and Ferd talk about Ferd's journey into the mobile home park industry as well advice he has for passive mobile home park investors interested in investing in America's trailer parks. Andrew also asks about Ferd's techniques, preferences, and input on the topics of raising capital, syndications, park-owned mobile homes versus tenant-owned mobile homes, and what makes him stand out as a mobile home park owner/ operator.
In addition to being a mobile home park owner and operator, Fred is also a lawyer, real estate investor, financial analyst and entrepreneur. His experience in real estate includes stabilized mobile home park investments and turnaround investments. He also has retail development and redevelopment experience along with residential investments. Ferd practiced law at a top Kansas City law firm focused on economic development incentives, public finance, property tax assessments, redevelopment, land use, and zoning before he started his own law firm, "The MHP Lawyer."
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
01:26 - Ferd's background in real estate and his journey into law and business
03:42 - Important things passive mobile home investors should look for with syndications
07:52 - The hardest parts about the business
10:40 - Ferd's team
12:00 - Used home versus new homes
14:05 - Ferd's perfect park
16:08 - Park-owned homes
18:03 - Ferd's preference: raising capital or syndications?
19:00 - Structure for raising capital
21:10 - Investing in your own park deals
22:30 - Ferd's favorite win
24:31 - Operations and project managers
26:14 - Ferd's specialty and what makes him stand out
28:07 - Ferd's biggest struggle
32:22 - End game goals and exits
33:50 - Last minute advice about the mobile home park industry
35:04 - How to get a hold of Ferd
35:26 - Conclusion
Links & Mentions from This Episode:
Ferd Nie
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with new mobile home park owner and operator: Todd Sulzinger. Todd answers several questions including: the most important things passive investors need to look out for when investing in mobile home parks, how he runs his trailer parks and the park owned home model when it comes to the mobile homes in his communities, he also discusses his exit strategy and endgame goals. Andrew and Todd do a deep dive into Todd's management strategies from his choice of working in majority park owned home communities to the perks of having an on-site maintenance team. Andrew also asks Todd about his numbers in terms of turnover and re-leasing and about how those numbers changed because of COVID-19.
Andrew Keel's guest, Todd Sulzinger is the president at Blue Elm Investments. Blue Elm works to develop safe, secure, and recession-proof investments allowing them to build long-term sustainable cash flow through the acquisition of mobile home parks across the United States. Todd also acts as a consultant with CCI Investments, helping buyers acquire and improve mobile home parks.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
01:09 - Todd's Background
02:37 - The hardest part about the business
03:18 - On-site visits
04:37 - What investors need to look out for when investing
06:41 - Todd's value-add secrets for his mobile home parks
09:45 - Todd's preference for majority park owned home communities
15:20 - Performance during COVID-19
18:42 - Todd's perfect mobile home park
21:43 - Tenant turnover and re-leasing numbers
22:40 - Todd's deals: personal investment, recourse, and rate of returns
26:50 - Exit strategy and end game goals
28:27 - CCI and third party management of communities
31:23 -Todd's current projects and deals he is working on
32:40 - How to get a hold of Todd
33:45 - Conclusion
Links & Mentions from This Episode:
Todd's email: todd@blueelminvestments.com
Blue Elm Investments website: www.
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about the details of investing in mobile home parks with Sam Hales, a mobile home park fund manager. Andrew and Sam chat about how Sam got into manufactured housing, how he and his colleagues got over the hurdle of third party management, and what his perfect mobile home park would look like. Sam also talks with Andrew about the QOZ Finder web bot built to scour the internet and find homes in opportunity zones. Andrew delves into Sam's expertise when it comes to his street lighting implementations and other value add techniques. If you've had any qualms about investing in trailer parks, let Andrew and Sam's skill and knowledge put those fears to bed in this episode of the Passive Mobile Home Park Investing Podcast.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
01:28 - How Sam got into manufactured housing
07:33 - The hardest part about the mobile home park business
09:32 - QOZ Finder web bot
14:30 - What is an opportunity zone?
22:45 - Biggest risks that passive investors face when looking at deals
25:45 - The hurdle of third-party managers
29:20 - Value add implementations
35:15 - Infill and other ways to increase NOI
40:00 - Buying homes, and lending programs like the 21st Mortgage Cash Program
42:23 - Sam's perfect mobile home park
52:00 - Pro forma to keep occupancy
54:00 - Typical fees investors should expect
56:13 - Reaching out to Sam
00:00 - Conclusion
Resources/Links:
Asana: https://asana.com/
Link to lighting manual: https://drive.google.com/file/d/14z4IPCdWksHt-YOiw0atOtmdF10GIbbV/view?usp=sharing
LinkedIn: https://www.linkedin.com/in/samhales/<
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about how you can review a potential mobile home park investment opportunity in 10 minutes or less. Andrew goes over some great tips on where you should go for market research, rent comps and more! Andrew also goes over the most important things you need to look upfront when considering a passive mobile home park investment.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
00:40 - The key to getting a mobile home park deal done quickly and efficiently
01:32 - Researching the market
01:55 - 5 websites, tools, and go-to places for thorough research
05:32 - FEMA Flood Map
06:22 - Occupancy in the mobile home community
07:19 - The number of park-owned homes in the community
08:00 - The utility infrastructure
09:15 - Review the size of the lots and the park
10:47 - Pitched roof homes
11:23 - Lot rent competition in the area
12:04 - Conclusion
Resources/Links:
BestPlaces.net: https://www.bestplaces.net/
SpotCrime.com: https://spotcrime.com/
GreatSchools.org: https://www.greatschools.org/
RentOMeter.com: https://www.rentometer.com/
FEMA Flood Maps: https://msc.fema.gov/portal/home
Links & Mentions from This Episode:
Bigger Pockets website: https://www.biggerpockets.com/
Mobile Home University website: https://www.mobilehomeuniversity.com/
Keel Team's official website: https://www.kee
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Ryan Narus, a double graduate of Wake Forest University with an undergrad in Psychology & Statistics and an MBA. He is a self made real estate entrepreneur who owns and operates 14 Mobile Home Parks spanning ~1,408 units.
But here's the thing: He started with nothing. No money. No experience. No network. He was a 20 something with way more student loan debt than actual capital to invest in deals. He’s just a normal dude. The only thing that makes him different is that he refused to quit. And he was willing to sacrifice, and take bold action. He found creative ways to make money while he scaled his business up. He was stuck in Corporate America. He escaped. And now he wants to help others.
Today we’re talking about how Ryan got started in mobile home parks, his views on investing in mobile home parks, what he does to improve trailer parks, his perfect communities, wins, pitfalls, and everything in between.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupa
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about other miscellaneous ways you can passively invest in mobile home parks. Today Andrew talks specifically about investing in mobile homes themselves, crowdfunding websites, and becoming a debt lender, or a balance sheet partner.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:19 - Welcome
00:37 - Option #1: Crowdfunding websites
02:27 - Option #2: Investing in mobile homes themselves
04:39 - Option #3: Becoming a balance sheet partner
05:37 - Option #4: Becoming a debt lender
06:33 - Option #5: Self-directed IRAs
08:00 - Thanks and see you next week
Links & Mentions from This Episode:
Fundrise.com: https://fundrise.com/
Crowdstreet.com: https://www.crowdstreet.com/
Realtymogul.com: https://www.realtymogul.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with mobile home park operator and syndicator: Daniel Weisfield. Today they talk about investing in mobile home parks and what passive investors should look for. They also discuss Daniel’s success in the business and the hardest parts about the mobile home park business. Daniel also discusses his top pieces of advice for new investors getting into the trailer park space.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:19 - Welcome, Introduction to Daniel Weisfield
01:31 - Daniel’s background
04:56 - The hardest part about the business
06:38 - How Daniel is changing the stigma/psychology of “trailer parks”
09:30 - What passive investors should look for when investing into this asset class
13:11 - Daniel’s greatest mistake as an operator
16:04 - Daniel’s biggest win so far
21:12 - Successful value add strategies
23:30 - Selling homes in new lots
25:52 - Daniel’s true value proposition as an operator
29:04 - Having skin in the game
35:20 - Daniel’s vision into the future
37:50 - Daniel’s terms for passive investors
39:35 - Property management team set-up
42:30 - Getting a hold of Daniel
42:55 - Thanks and see you next week
Links & Mentions from This Episode:
Three Pillar Communities website: https://www.threepillarcommunities.com/
Daniel Weisfield’s email: info@threepillarcommunities.com
Keel Team's official website: https://www.keelteam.com/
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about how direct ownership of a mobile home community with third party property management is not a passive way to invest in mobile home parks. It is easy to be sold on direct mobile home park ownership, but don’t be fooled, direct mobile home park ownership is NOT passive. Make sure you know what you’re signing up for, Andrew goes into the reasons why this is actually a very active form investing. Andrew also addresses his concerns about third party property management in the mobile home park space.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park value add projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
00:30 - Direct ownership of a mobile home community is not passive
01:35 - Reason 1: Rent collection
01:50 - Reason 2: Filling vacancies may take longer
02:10 - Reason 3: Submetered water/sewer/utility expense recapture
02:38 - Reason 4: Violations for liability concerns
03:11 - Concerns from third party property management companies
05:55 - This is not a passive business
06:22 - Recommendations for passively investing
06:40 - Conclusion
Links & Mentions from This Episode:
Bigger Pockets website: https://www.biggerpockets.com/
Mobile Home University website: https://www.mobilehomeuniversity.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about passively investing in mobile home parks with Kevin Bupp. Kevin is the host of the Mobile Home Park Investing Podcast as well as the Real Estate Investing for Cash Flow Podcast. Both of which are top ranked on iTunes. At his day job, Kevin is a fund manager for Sunrise Capital Investors, which focuses on niche market segments that are currently out of favor, inefficient, and have less competition. With over two decades of experience, Mr. Bupp also educates investors how to locate, negotiate, and acquire commercial real estate to generate cash flow and legacy wealth for their families. Today Kevin and Andrew talk about value add components, past experiences, risks involved with investing in trailer parks, the future of asset class, and Sunrise Capital Investors.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please over to iTunes and leaving the show a quick five-star review. I have a goal of hitting over 100 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.
Talking Points:
00:19 - Welcome to the Passive Mobile Home Park Investing Podcast
01:24 - Kevin’s background and educational journey through real estate
07:00 - Great on-site manager s vs slum-lord managers
11:28 - Mayor Bobby Cartwritght
13:24 - The hardest part about the mobile home park business
20:57 - The biggest risks in passive investing
26:26 - The value add components
30:49 - What does the perfect mobile home park look like
31:42 - The typical park that Sunrise Capital acquires
35:28 - What does Sunrise specialize in?
40:07 - The future of asset prices
44:00 - Sunrise Capital team and operations
50:45 - What are Kevin’s typical general partner splits and fees
55:00 - Getting a hold of Kevin
00:00 - Conclusion
Links & Mentions from This Episode:
Kevin Bupp’s official website: https://www.kevinbupp.com/
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about passively investing in mobile home parks through syndications and joint ventures. Andrew covers the goal of these legal structures, the pros and cons of each, and his top ten tips on how to meet mobile home park syndicators that may not be advertising their current investment offerings.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park value add projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
00:30 - Passive investing in mobile home parks through syndications and joint ventures
02:00 - Joint Venture Investments
03:30 - 506(b) or 506(c) SEC filings and investments
04:33 - Ten tips on how to meet mobile home park syndicators
07:03 - Pros and Cons to Syndications and JV deals
08:15 - Conclusion
Links & Mentions from This Episode:
Bigger Pockets website: https://www.biggerpockets.com/
Mobile Home University website: https://www.mobilehomeuniversity.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast
Andrew Keel Instagram page:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with CPA Noah Rosenfarb. Noah has been studying the tax code his entire life in order to find legal loopholes so he can help people legally reduce or eliminate paying taxes. Not only is Noah a third generation CPA, he also has over twenty years of experience investing in real estate. Today Noah answers questions about tax issues within passive real estate investing, cost segregation, REIT’s, questions we should ask our CPA’s, and about his own 501(c): FIGI.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100, 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show!
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
00:30 - Noah Rosenfarb’s background
01:35 - Walking through a sample mobile home park deal
03:35 - Depreciation in real estate
05:10 - Taxable loss and how to carry it over to cover other income
08:15 - 1031 Exchange or 721 exchange
10:05 - Cost segregation
12:00 - Tax advice for new investors to real estate syndications
14:00 - CPA questions before passive investing in mobile home parks
15:50 - REIT investing
19:15 - Tax incentives for out of country companies
23:10 - Noah’s 501(c): FIGI
28:00 - Getting a hold of Noah
28:55 - Conclusion
Links & Mentions from This Episode:
Noah Rosenfarb LinkedIn: https://www.linkedin.com/in/noahrosenfarb/
Syndication Platform: https://investwithfreedom.com/
Freedom Family Office Website: https://freedomfamilyoffice.com/
FIGI Royalty Website:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about the second way you can passively invest in mobile home parks, which is through an investment fund structure. Andrew goes over investing in investment funds vs. syndications, and also discusses the legal side of the investment fund setup. Andrew also discusses the power of an experienced operator and how that can alleviate a lot of the risks involved with investing in mobile home parks. After all, you can have success investing in trailer parks if you are informed and educated.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
00:30 - Investment Fund Structure
01:15 - Syndications versus Funds
02:00 - The power of an experienced operator
03:00 - The Legal side of Investment Funds
05:50 - Property specific syndication
06:10 - The importance of trust
07:27 - Investment Funds are Close-Ended
07:52 - Variable based on investment
08:15 - Examples of Funds in no particular order
09:20 - Tips for investing this way
11:11 - Funds with dry powder
11:30 - Conclusion
Links & Mentions from This Episode:
Investing in Real Estate Private Equity: An Insider’s Guide to Real Estate Partnerships, Funds, Joint Ventures & Crowdfunding, by Sean Cook
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel
Andrew Keel Facebook page:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Mauricio Rauld, founder and CEO of the Premier Law Group. A premier boutique securities law firm. As a nationally recognized expert on private placements, Mauricio works with elite entrepreneurs who seek to increase and protect their wealth through syndications. Today we’ll be having a conversation about the legal side of mobile home park investing. If you have questions about the SEC, investing through an LLC, or the risks of passive investing in mobile home parks, this is the episode for you. Mauricio will also talk about why he loves investing in trailer parks so much and the benefits of passively investing.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Are you getting value out of this show? If so, can you please head on over to iTunes and give us a five-star review? Help me get to my goal of getting over 100 five-star reviews by the end of 2021!
Talking Points:
00:18 - Welcome to the Passive Mobile Home Park Investing Podcast
01:00 - Mauricio’s background in mobile home parks
02:40 - Major risks for passive investors investing in the funds and syndication type of deals
04:05 - Big red flags (legal and documentation)
07:55 - Top items that passive investors should look at in legal documentation
10:10 - Ideal ways for passive investors to invest
14:11 - Other states with high SEC filing fees
16:20 - Different holding company or LLC for different syndications
19:00 - The structure of the different entities
20:00 - Investing through an IRA
22:13 - Usual procedures for offering documents
24:30 - The difference between a 506(b) and a 506(c) offering
28:25 - Main advice for passive investors looking to invest in a mobile home park deal
29:35 - Getting a hold of Mauricio
30:00 - Conclusion
Links & Mentions from This Episode:
Mauricio Rauld’s email: team@premierlawgroup.net
Premier Law Group website: http://www.premierlawgroup.net/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website:
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. This is the first episode in a new series on “how” to invest passively in mobile home parks. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about investing in trailer park real estate investment trusts (REIT’s). REIT’s own and operate everything from hospitals to warehouses and even mobile home parks. They trade, just like stocks but they are required to pay out 90% of their profits as dividends. Check out this episode to find out the reasons why REIT’s maybe a good option for investors looking to retain a high level of liquidity.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,300 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.
Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at www.AndrewKeel.com.
Would you like to see mobile home park value add projects in progress? If so, follow us on Instagram @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions. Once again, that's @passivemhpinvesting on Instagram. See you there.
Talking Points:
● 00:20 - Welcome back to the Passive Mobile Home Park Investing Podcast
● 01:13 - A single investor versus partnering with a larger group of investors
● 02:08 - Mobile home park investing in four different ways
● 02:55 - Investing in trailer park real estate investment trusts (REITs)
● 04:09 - The benefits of REITs
● 04:28 - The three publicly-traded, mobile home park REITs
● 05:00 - Sun Mobile Home Communities
● 05:40 - Equity Lifestyle Properties Inc.
● 06:33 - UMH Properties Inc.
●
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. This is the last episode in the series where Andrew discussed the 12 reasons why you should be investing in trailer parks. Today Andrew discusses reason #12 as to why you should invest in mobile home parks: mobile home parks are an asset class that offers one of the highest opportunities for net operating income growth (NOI). There are plenty of ways for an operator to raise the NOI of a mobile home park property, which can make the mobile home park property more valuable. Ultimately, this value add component can increase returns when investing in mobile home parks.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,300 lots under management. His team currently manages over 20 manufactured housing communities across nine states – AR, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at passivemhpinvesting@gmail.com. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:20 - Welcome back to the Passive Mobile Home Park Investing Podcast
- 00:40 – Reason #12: Mobile home parks have one of the highest opportunities for net
- operating income growth
- 01:06 - Net Operating Income (or NOI) and how to increase it
- 02:45 - Charles Becker statistics on lot rents
- 03:08 - Frank Rolfe’s opinions on why lot rents are 100% too low
- 04:58 - In conclusion
- 03:27 - The pre-investment checklist
Resources/Links:
Keel Team, official website
Andrew Keel, official website
Andrew Keel, LinkedIn
Facebook page
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Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about the #11 reason why you should start investing in trailer parks: mobile home parks are recession and inflation resistant. Mobile home park investing is a stable form of investment, even during times of recession and inflation. Between 2004 and 2018, operating income from mobile home parks rose by 87%, even during the great recession in 2008. Andrew further explains why the risks of investing in mobile home parks are not as scary as you might think.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,300 lots under management. His team currently manages over 20 manufactured housing communities across nine states – AR, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at passivemhpinvesting@gmail.com. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:20 - Welcome back to the Passive Mobile Home Park Investing Podcast
- 00:35 – Reason number 11: recession and inflation resistant characteristics
- 00:53 - Why mobile home parks are recession resistant
- 02:03 - Operating income from mobile home parks
- 02:55 - In conclusion
- 03:27 - The pre-investment checklist
Resources/Links:
Keel Team, official website
Andrew Keel, official website
Andrew Keel, LinkedIn
Facebook page
Instagram page
Twitter: @MHPinvestors
YouTube channel
Quotes:
“Mobile home parks provide uncorrelated returns, meaning they perform well in strong and weak economic environmen
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. Some of the nation's largest lenders are actively lending money in the Mobile Home Park space. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about reason #10 for investing in trailer parks: mobile home park’s have attractive financing options whether for an acquisition or a refinance. Typically, in current times, when financing a mobile home park acquisition the loan-to-value one can expect is between 70-80%, meaning that the purchaser is required to bring a down payment of only around 20% to 30%.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,300 lots under management. His team currently manages over 20 manufactured housing communities across nine states – AR, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership.
Find out more about Andrew's story at AndrewKeel.com.
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at passivemhpinvesting@gmail.com. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:20 - Welcome back to the Passive Mobile Home Park Investing Podcast
- 02:36 - Non-recourse debt
- 04:20 - The Debt Service Coverage Ratio
- 05:12 - In conclusion
- 05:25 - The pre-investment checklist
Resources/Links:
Keel Team, official website
Andrew Keel, official website
Andrew Keel, LinkedIn
Facebook page
Instagram page
Twitter: @MHPinvestors
YouTube channel
Quotes:
“Having a higher property class grade will ultimately open better financing doors.” - Andrew Keel on mobile home park acquisition and refinancing financing options
“Having this many financing options available is a positive note to investing in mobile home parks.” - Andrew Keel on trailer park debt options<!--
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Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about the 9th reason why you should invest in mobile home parks, and this is because of the HUGE stigma surrounding mobile home parks. Andrew will go over the bad reputation surrounding the asset class and why this is actually great for the few investors that aren’t scared away. In this episode, Andrew will also share some personal stories involving this topic as well.
Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,300 lots under management. His team currently manages over 20 manufactured housing communities across nine states – AR, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at passivemhpinvesting@gmail.com. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:20 - Welcome back to the Passive Mobile Home Park Investing Podcast
- 00:31 - The stigma around mobile home parks
- 01:30 - The story of my first mobile home park capital raise
- 03:05 - Interesting tidbits about mobile home parks and safety
- 04:05 - In conclusion
- 04:34 - The pre-investment checklist
Resources/Links:
Keel Team, official website
Andrew Keel, official website
Andrew Keel, LinkedIn
Facebook page
Instagram page
Twitter: @MHPinvestors
YouTube channel
Quotes:
“That deal went on to create a 74% cash-on-cash return and all initial capital was returned in 24 months. Thankfully, I didn’t give up after hearing no from my first option.” – Andrew Keel
“In mobile home park communities the housing la
Welcome back to the Passive Mobile Home Park Investing Podcast. Hosted by Andrew Keel.
Today’s episode is all about the 8th reason why you should invest in mobile home parks, and this is because mobile home parks are a very tax efficient investment vehicle. I’ll briefly go over the depreciation of mobile home parks and how that can be beneficial to investors like you and me. I’ll also cover a specific change to tax law, and why accelerated depreciation on mobile home parks is basically another stimulus check from the government.
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at PassiveMHPinvesting@gmail.com. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:19 - Welcome to the Passive Mobile Home Park Investing Podcast
- 00:34 - Mobile home parks are a known tax shelter
- 00:45 - Depreciation
- 01:45 - Speak to your tax advisor
- 02:20 - Changes in tax law
- 03:30 - Accelerated depreciation on mobile home parks
- 03:55 - Pre-investment checklist
Resources/Links:
- Keel Team, official website
- Andrew Keel, official website
- Andrew Keel, LinkedIn
- Facebook page
- Instagram page
- Twitter: @MHPinvestors
- YouTube channel
Quotes:
“A dollar saved is a dollar earned, right? Reason #8 is that mobile home parks are a known tax shelter due to the accelerated appreciation that they provide.” - Andrew Keel
“Recent tax law changes under the tax cuts and jobs act of 2017 have given a boost to cost segregation.” - Andrew Keel
“Accelerated depreciation on mobile home parks is basically another stimulus check from the government. You should take advantage of it.” - Andrew Keel
“That’s about $44,000 per year in an imaginary expense that you get to add to your end-of-year financials.” - Andrew Keel, on mobile home park depreciation
Brought to you by Andrew Keel of Passive Mobile Home Park Investing.
Welcome back to the Passive Mobile Home Park Investing Podcast. My name is Andrew Keel.
In this episode, I talk about reason #7, which is all about how mobile home parks are a highly fragmented asset class. Of the 44,000 mobile home parks in the United States, it’s estimated that about 90% of these mobile home parks are still owned by mom and pop operators. I’ll talk about what this means for investors and why now is a great time for you to start investing in mobile home parks.
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email to PassiveMHPinvesting@gmail.com. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:18 - Hello and Welcome
- 00:33 - Reason #7 Mobile Home Parks are a Highly Fragmented Asset Class
- 01:15 - Ripe for consolidation
- 02:22 - Mom and Pop mobile home park owners
- 03:27 - Now is the time
- 03:55 - Pre-investment checklist
Resources/Links:
- Keel Team, official website
- Andrew Keel, official website
- Andrew Keel, LinkedIn
- Facebook page
- Instagram page
- Twitter: @MHPinvestors
- YouTube channel
Quotes:
“This is the only remaining real estate asset class still ripe for consolidation--and it’s coming!” – Andrew Keel
“It is estimated that there are 44,000 mobile home parks in the US. It’s also estimated that about 90% of these mobile home parks are still owned by mom and pop operators.” – Andrew Keel
“Now is the time to jump into the mobile home park asset class due to the majority of owners who are ready to pass on the torch to the next generation.” – Andrew Keel
“93% of multi-family apartments (above 50 units) are owned by operators who have multiple assets. This doesn’t mean that they’re all well run, but it does mean that, in general, these assets are owned by professional operators who are looking to get as much value out of these as possible.” – Andrew Keel
Brought to you by Andrew Keel of Passive Mobile Home Park Investing.
Welcome back to the Passive Mobile Home Park Investing Podcast hosted by me, Andrew Keel.
In this episode, I’m going to be talking about the sixth reason why you should invest in mobile home parks. Reason #6 is all about low loan default rates. Manufactured housing communities have a 50% lower loan default rate compared to multifamily apartment default rates. Today I’ll talk about those low loan default rates and share examples of some big names and success stories in manufactured housing.
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email to PassiveMHPinvesting@gmail.com. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:20 - Hello and Welcome
- 00:40 - Reason #6: low loan default rates
- 00:47 - Mobile home default rates compared to multifamily apartment default rates
- 01:30 - Warren Buffet and Clayton Homes
- 02:35 - Sam Zell and Equity LifeStyle Properties
- 03:20 - Summary and Conclusion
- 03:42 - Pre-investment Checklist
Resources/Links:
- Keel Team, official website
- Andrew Keel, official website
- Andrew Keel, LinkedIn
- Facebook page
- Instagram page
- Twitter: @MHPinvestors
- YouTube channel
Welcome back to the Passive Mobile Home Park Investing Podcast. My name is Andrew Keel.
On today’s episode, we’re going to talk about the fifth reason why you should invest in mobile home parks: and this is because mobile home parks have low repairs and maintenance expenses. I’ll share my personal experiences and I’ll explain why mobile home parks have such low repairs and maintenance expenses.
Are you interested in diving deeper into mobile home park investing? Would a community of passive investors, experienced operators and beginners be helpful to you? If so, check out the Mobile Home Park Mastermind Facebook group. It can be found at facebook.com/groups/mhpmastermind. This group is updated daily with new content and has over 1000 current members. This is a great resource for you to get all of your questions answered in one place.
Talking Points:
- 00:20 - Hi and Welcome
- 00:30 - Reason #5: Low repair and maintenance expenses
- 01:30 - My first multi-family complex
- 02:37 - My first mobile home park
- 03:09 - Reducing risk
- 04:20 - Higher profits for passive investors
- 04:25 - Conclusion and teaser for the next episode
- 04:38 - Facebook MHP Mastermind Group
Resources/Links:
- Keel Team, official website
- Andrew Keel, official website
- Andrew Keel, LinkedIn
- Facebook page
- Instagram page
- Twitter: @MHPinvestors
- YouTube channel
Quotes:
- “Most mobile home park owners do not own the mobile homes themselves, just the dirt underneath of them.” - Andrew Keel
- “For a short period, I owned the 9-unit apartment complex in Daytona Beach, and the 67-lot mobile home park in St. Louis Missouri at the same time. It didn’t take long to see which was taking up most of my time, and soon thereafter, I chose to sell the 9-unit apartment complex.” - Andrew Keel
- “The tenant-owned home ownership structure ultimately reduces risk.” – Andrew Keel
- “Mobile home parks have low repairs and maintenance expenses and this can result in higher profits for passive investors.” – Andrew Keel
Welcome back to the Passive Mobile Home Park Investing Podcast. My name is Andrew Keel, I'm a real estate investment specialist, entrepreneur, fitness advocate and family man.
On today’s episode, I’m going to be talking about the fourth reason why you should invest in mobile home parks. Reason #4 discusses how mobile home parks boast around a 5% tenant turnover rate, annually. This means that around 95% of mobile home tenants this year, will be there next year. Today I’ll talk about what that means for investors.
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at PassiveMHPinvesting@gmail.com. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:20 - Hello and Welcome
- 00:33 - Reason #4: Low turnover rate
- 01:06 - Moving mobile homes
- 01:55 - Sun Communities statistics
- 03:20 - Exception: Park-owned mobile homes
- 03:53 - Conclusion and teaser for the next episode
- 04:10 - Pre-investment checklist
Resources/Links:
- Keel Team, official website
- Andrew Keel, official website
- Andrew Keel:
- Facebook page
- Instagram page
- Twitter: @MHPinvestors
- YouTube channel
Quotes:
- “Mobile home parks boast around a 5% tenant turnover rate, annually.” – Andrew Keel
- “75% of mobile home owners expect to stay in their homes for five years or more.” – Andrew Keel
- “Many mobile home tenants are retired and on a fixed income. The last thing they want to do is make a major move. Rent is practically guaranteed to be paid on time and in full by this class of tenants.” – Andrew Keel
- “Low tenant turnover is a huge reason why you should be investing in mobile home parks.” – Andrew Keel
Welcome to Episode 3 of the Passive Mobile Home Park Investing podcast, this episode will discuss why the demand for mobile home park living and affordable housing in general is off the charts in the United States. When supply is being reduced and demand is strong, opportunity comes knocking. I will discuss in this episode why passive investors should look to invest in mobile home parks based off of the fact that there is very strong demand for this type of affordable housing.
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at PassiveMHPinvesting@gmail.com. In the email, please tell us who you are and what screen name you used to leave that review and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:19 - Hello and Welcome
- 00:35 - Reason #3 Demand is very strong
- 00:45 - When I began my investing career
- 02:59 - Statistics on the housing crisis
- 07:08 - A few optimistic statistics and numbers for the future
- 07:50 - The Silver Tsunami
- 09:45 - Conclusion and teaser for the next episode
- 10:09 - Pre-investment checklist
Resources/Links:
- Keel Team, official website
- Andrew Keel, official website
- Andrew Keel:
- Facebook page
- Instagram page
- Twitter: @MHPinvestors
- YouTube channel
Quotes:
- “Demand is very strong for mobile home park living, due to an affordable housing crisis taking place in the United States.” – Andrew Keel
- “Demand for this product is absolutely off the charts.” – Andrew Keel
- “At the core, it comes down to an affordable housing crisis going on, right here, in the US.” – Andrew Keel
- “Owning a home can be cheaper than renting, right? But the number of starter homes on the market has decreased by 44% over the last five years.” – Andrew Keel
Welcome back to the Passive Mobile Home Park Investing Podcast. My name is Andrew Keel I'm a real estate investment specialist, entrepreneur, fitness advocate and family man.
Today I’m talking about the second reason why you should invest in mobile home parks. Reason #2 is that the supply of mobile homes parks in the United States is shrinking every year. I’ll go over a couple of the biggest reasons why they’re disappearing, including the fact that they’re a loss leader for municipalities. I will also discuss what this means for investors.
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at PassiveMHPinvesting@gmail.com. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:21 - Hello and Welcome
- 00:30 - Reason #2: The supply of mobile home parks is shrinking
- 01:10 - ‘Endangered: San Antonio’s Vanishing Mobile Home Parks and a Path for Preservation’ which was written by UT Austin
- 02:55 - Mobile home parks are a loss leader for municipalities
- 04:05 - Supply-and-demand
- 04:21 - Conclusion and thank you
- 04:33 - Pre-investment checklist
Resources/Links:
- Keel Team, official website
- Andrew Keel, official website
- Andrew Keel:
- Facebook page
- Instagram page
- Twitter: @MHPinvestors
- YouTube channel
Quotes:
- “Reason #2 as to why you should invest in MHPs is because the supply of mobile home park properties in the United States is shrinking every single year.” – Andrew Keel
- “There are roughly forty-four thousand manufactured home communities in the United States and mismanaged communities are being developed or shut down at an alarming rate. – Andrew Keel
- “ECON 101 taught us about supply-and-demand. With this supply and off-the-charts demand, this could equal great opportunity, right?.” – Andrew Keel
- “If you own one of the few or only mobile home parks in town, you’re the affordable housing equivalent of a standard oil company in 1910 and, yeah, you could possibly have a monopoly on the supply.” – Andrew Keel
Welcome to the first episode of the Passive Mobile Home Park Investing podcast, hosted by Andrew Keel. This episode discusses the first reason suggested as to why you should invest in mobile home parks. Reason #1 is due to the potential to receive a high rate of return on your investment capital. This episode will discuss why this reason is my favorite reason you should invest in mobile home parks, it will also dive into how operators can create strong returns very quickly using the BRRR method. Also, tune in to find out what type of returns investors can expect through passively investing in mobile home parks!
Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you will go to iTunes or whereever you get your podcasts and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at PassiveMHPinvesting@gmail.com. In the email, please tell us who you are and what screen name you used to leave that review and we’ll send the pre-investment checklist, directly to your inbox.
Talking Points:
- 00:22 - Hello and Welcome
- 00:37 - Reason #1: The potential for high rates of return
- 01:33 - Wall Street Journal’s article on one of the greatest returns since the Great Recession
- 03:00 - How operators can increase value to pay back investors quickly
- 04:16 - Conclusion and teaser for next week’s episode
- 04:30 - Pre-investment checklist
Resources/Links:
- Keel Team, official website
- Andrew Keel, official website
- Andrew Keel:
- Facebook page
- Instagram page
- Twitter: @MHPinvestors
- YouTube channel
Quotes:
- “Higher cap rates equals higher returns for investors.” – Andrew Keel
- “Mobile home parks allow investors to acquire more units for less money up front..” – Andrew Keel
- “One of the reasons for the great rate of return are the low acquisition costs per unit.” – Andrew Keel
- “This is my favorite reason as to why you should invest in mobile home parks; higher returns means that you can retire faster and ultimately do more upon retirement.” – Andrew Keel
Thank you for checking out the Passive Mobile Home Park Investing Podcast!
My name is Andrew Keel. In this brief introduction episode, I discuss what the Passive Mobile Home Park Investing Podcast is and how it can be valuable to you. I also discuss what listeners should expect and what my goals are for this podcast. I’ll go over what you can expect to walk away with after each episode and what our game plan is with the 5 different podcast series of episodes. All episodes will fall into a five series game plan which are: 1- Why invest in mobile home parks?, 2- How to invest in mobile home parks?, 3- What to look for when investing in mobile home parks?, 4- How to Vet Mobile Home Park Operators and the last series will be number 5- the Interviews series that we will have with several top mobile home park professionals.
If you’re interested in learning about passive mobile home park investing, this is the podcast for you! My guests and I will teach you all about the mobile home park sector of real estate and what you need to know in order to invest successfully. We hope that you will use this podcast as your Britannica Encyclopedia for passive mobile home park investing!
Please hit the subscribe button to get locked in and set up to receive all of the great information this podcast has in store.
Talking Points:
- 00:00 - Intro to the Passive Mobile Home Park Investing podcast
- 01:05 - Who am I?
- 02:00 - What should listeners expect with this show?
- 04:03 - What is the game-plan with this podcast?
- 05:54 - What are the goals of this podcast?
- 06:17 - Please subscribe to get locked in and receive all the great info we offer
Resources/Links:
- Keel Team, official website
- Andrew Keel, official website
- Andrew Keel:
- Facebook page
- Instagram page
- Twitter: @MHPinvestors
- YouTube channel
Quotes:
- “I believe I’m the best person to host this podcast because I’m in the business daily and I understand the intricacies this business requires.” – Andrew Keel
- “As a passive investor myself, there are certain things I’m looking for in every deal to make sure it fits in my investment goals.” – Andrew Keel
- “This podcast is set up with five different series.” – Andrew Keel
- “I am probably more comfortable with risk than most people. That’s because I do as much as I can to understand it.” – Sam Zell