Passive Mobile Home Park Investing

Trading Tesla for Mobile Home Trailers - Leo Young’s Mobile Home Park Investing Journey

Andrew Keel — Tue, 11 Nov 2025 13:00:00 +0000

Welcome back to The Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel.
In this episode, Andrew Keel sits down with Leo Young, co-founder of Cornell Communities, to discuss his journey from working at Tesla to building a successful career in mobile home park investing.

Leo shares what drew him to the mobile home park investment thesis, how he built an efficient operations team to scale his trailer park portfolio, and the key lessons he has learned from both wins and mistakes. Listeners will hear real-world insights on raising capital, managing park-owned mobile homes, navigating rent control and regulatory changes, and what it really takes to create passive income through mobile home park investments.

With experience on a $4.5 billion private equity acquisition team and over $50 million in real estate transactions, Leo brings a unique perspective combining operational expertise, strategic investing, and hands-on management to the mobile home park investing asset class.

Topics covered in this episode:

Leo Young’s journey from Tesla to mobile home park investing
What first attracted him to the mobile home park investment thesis
Building an efficient operations team to scale a mobile home park portfolio
Raising capital for mobile home park investments
Lessons learned from mobile home park deals that looked good on paper but failed in reality and in due diligence
Managing park-owned mobile homes and ensuring reliable on-site managers
The importance of having strong people on the ground and being on-site
Navigating rent control and increasing regulatory pressures
The mindset and work ethic required to succeed in the mobile home park industry
Spicy lightning round: fun insights and quick takes on manufactured housing communities

About Leo Young

Leo Young is the co-founder of Cornell Communities and has been involved in over $50 million worth of real estate transactions. He previously served on the acquisition team of a $4.5 billion private equity fund. Before real estate, Leo was the #1 Regional Salesperson at Tesla, an experience that shaped his approach to operations, leadership, and scaling investments in mobile home parks.

About Andrew Keel
Andrew Keel is the owner of Keel Team, LLC, a Top 50 Owner of Manufactured Housing Communities with over 3,250 lots under management. His team currently manages more than 50 manufactured housing communities across 15+ states.

Andrew specializes in turning around under-managed manufactured housing communities by implementing proven systems to maximize occupancy while reducing operating costs. His expertise includes:

Bringing in mobile homes to fill vacant lots.
Implementing utility bill-back programs.
Improving overall management and operating efficiencies in mobile home parks.

These strategies can significantly boost both asset value and net operating income. Learn more at keelteam.com

Check out Andrew’s FREE e-book: “The Top 20 Things You Need to Know Before You Start Investing in MHPs” — available on our website here: https://keelteam.com/top-20-things-learned-from-mobile-home-park-investing/

Andrew has been featured on some of the top podcasts in the manufactured housing space. Listen to his most recent interviews here: keelteam.com/podcast-links.

To successfully implement his management strategy, Andrew’s team often relocates on-site during the first several months of ownership. Find out more about Andrew’s story at andrewkeel.com

Support the Show
Are you getting value out of this podcast? If so, please head over to iTunes and leave a quick five-star review. Our goal is to hit over 500 total 5-star reviews, and it would mean the world to us if you could help us get there. Thank you for making our day with your support!

Apple Podcasts (iPhone, iPad, or Mac users) Leave a Review on Apple Podcasts (Open the link, scroll down to “Ratings & Reviews,” then tap “Write a Review.”)

Want to see mobile home park projects in progress? Follow us on Instagram: @passivemhpinvesting for photos and videos from our latest acquisitions.

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:10 - Leo Young’s journey from Tesla to mobile home park investing
04:45 - What drew Leo Young to the mobile home park investment thesis
08:19 - Building Leo Young’s operations team and scaling the business
11:17 - Raising capital for mobile home park acquisitions
13:00 - Mobile home park deals that looked great on paper but failed in reality
15:50 - Managing park-owned mobile homes and reliable on-site managers
18:16 - The importance of good people on-site and hands-on mobile home park management
22:27 - Navigating rent control and regulatory changes
24:35 - Doing whatever it takes to succeed in the mobile home park industry
28:00 - Spicy lightning round questions
30:45 - How to reach out to Leo Young
31:04 - Conclusion

SUBSCRIBE on YouTube: Passive Mobile Home Park Investing Podcast

Links & Mentions from This Episode:

Cornell Communities: https://www.cornell-communities.com/

Leo Young: https://leoyoungrealestate.com/

Leo on LinkedIn: linkedin.com/in/leo-young

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 good on-site manager is worth their weight in gold.” — Leo Young

“If people keep moving out and you don’t know why, it’s likely that your manager is doing something weird and causing problems.” — Andrew Keel

“Nothing can replace going on-site.” — Leo Young

Andrew Cramer’s $300 Million Mobile Home Park Investing Journey

Andrew Keel — Tue, 04 Nov 2025 13:00:00 +0000

Welcome back to The Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel.
In this episode, Andrew Keel sits down with Andrew Cramer, Founder of Bridgeview Asset Management, to discuss what it really takes to succeed in mobile home park investing.

Since 2011, Andrew Cramer has acquired and managed over 3,000 mobile home park units, building a portfolio valued at more than $300 million. He shares his unique journey from chemistry and hedge funds to mobile home park investor, offering insights into both the operational and investor sides of the business.

Andrew Keel and Andrew Cramer dive into the lessons learned from building a high-performing mobile home park team, executing a game-changing mobile home park deal that reshaped his strategy, and navigating the brokerage community. They also cover the importance of understanding the towns and people behind each mobile home park, breaking common industry stigmas, and strategies for scaling a mobile home park investment portfolio successfully.

Topics covered in this episode:

Andrew Cramer’s journey from chemistry and hedge funds to mobile home park investing
Learning the mobile home park business through trial and error
Building an investor-focused mobile home park team and processes
Executing a transformative mobile home park acquisition
Navigating the mobile home park brokerage community
Why understanding the town and people behind each mobile home park matters
Common mobile home park investing myths

Andrew Cramer shares key lessons from scaling thousands of mobile home park units, building a strong team, and evaluating communities—insights every investor and operator can use.

Andrew specializes in turning around under-managed manufactured housing communities by implementing proven systems to maximize occupancy while reducing operating costs. His expertise includes:

Bringing in mobile homes to fill vacant lots.
Implementing utility bill-back programs.
Improving overall management and operating efficiencies in mobile home parks.

These strategies can significantly boost both asset value and net operating income. Learn more at keelteam.com

Check out Andrew’s FREE e-book: “The Top 20 Things You Need to Know Before You Start Investing in MHPs” — available on our website: https://keelteam.com/top-20-things-learned-from-mobile-home-park-investing/

Andrew has been featured on some of the top podcasts in the manufactured housing space. Listen to his most recent interviews here: keelteam.com/podcast-links.

To successfully implement his management strategy, Andrew’s team often relocates on-site during the first several months of ownership. Find out more about Andrew’s story at andrewkeel.com

Apple Podcasts (iPhone, iPad, or Mac users) Leave a Review on Apple Podcasts (Open the link, scroll down to “Ratings & Reviews,” then tap “Write a Review.”)

Want to see mobile home park projects in progress? Follow us on Instagram: @passivemhpinvesting for photos and videos from our latest acquisitions.

Talking Points:

00:21 - Welcome to The Passive Mobile Home Park Investing Podcast
01:20 - From chemistry to real estate: Andrew Cramer’s journey to mobile home parks
08:35 - Education by trial and error
11:45 - Lessons learned from working in hedge funds
17:35 - Andrew Cramer’s current mobile home park team and investment processes
25:20 - The mobile home park brokerage community
30:15 - Andrew Cramer’s game-changing mobile home park deal
43:49 - Lightning round: Montana, New York, myths, and rent control
49:00 - Why understanding the town and people behind each park matters
52:40 - How to connect with Andrew Cramer
53:45 - Conclusion

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Bridgeview Asset Management: https://www.bridgeviewassetmanagement.com/

Andrew Cramer on LinkedIn: https://www.linkedin.com/in/andrew-cramer-43b5b513a/

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’s interesting how the way you start is often how you keep doing things.” - Andrew Cramer

“That, to me, is tremendously rewarding when you’re able to provide something. You can start to build out a community just by doing these things that no one wants to do.” - Andrew Cramer

“Sometimes being right isn’t as important as understanding that you’re going to have to figure out how to get along with someone.” - Andrew Cramer

Interview with Brad Johnson of Vintage Capital- A Mobile Home Park Capital Allocator

Andrew Keel — Tue, 21 Oct 2025 12:00:00 +0000

Welcome back to The Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel.

In this episode, Andrew Keel sits down with Brad Johnson, Managing Partner at Vintage Capital, to discuss what it really takes to build lasting success in mobile home park investing.

With over 20 years of experience and $3.3 billion in real estate acquisitions, Brad Johnson has seen the mobile home park investing business from both sides — first as a mobile home park owner-operator, and now as a trailer park investment capital allocator. He also co-hosts The Alternative Investor Podcast, where he shares insights on tax-efficient and alternative real estate investing.

Andrew Keel sits down with Brad Johnson to discuss mobile home park investing from both the operator and investor perspective. They cover Brad’s journey from mobile home park operator to mobile home park capital allocator, key lessons learned, how to identify strong deals, which regions and infrastructure types are performing best, and common mobile home park investing myths.

Topics covered in this episode:

Brad’s journey from mobile home park operator to capital allocator
Evaluating mobile home park operators and deals effectively
Why investing in top mobile home park management talent matters
Types of mobile home park investors and operators today
High-performing regions and mobile home park infrastructure types (septic, wastewater treatment plants, lagoons)
Common mobile home park investing myths

If you want to understand mobile home park investing from both the operational and investment perspectives, this conversation is full of valuable takeaways.

Andrew specializes in turning around under-managed manufactured housing communities by implementing proven systems to maximize occupancy while reducing operating costs. His expertise includes:

Bringing in mobile homes to fill vacant lots.
Implementing utility bill-back programs.
Improving overall management and operating efficiencies in mobile home parks.

These strategies significantly boost both asset value and net operating income. Learn more at keelteam.com

Andrew has been featured on some of the top podcasts in the manufactured housing space. Listen to his most recent interviews here: keelteam.com/podcast-links.

To successfully implement his management strategy, Andrew’s team often relocates on-site during the first several months of ownership. Find out more about Andrew’s story at andrewkeel.com

Apple Podcasts (iPhone, iPad, or Mac users) Leave a Review on Apple Podcasts (Open the link, scroll down to “Ratings & Reviews,” then tap “Write a Review.”)

Want to see mobile home park projects in progress? Follow us on Instagram: @passivemhpinvesting for photos and videos from our latest acquisitions.

Talking Points:

00:21 - Welcome to The Passive Mobile Home Park Investing Podcast

01:16 - Brad Johnson’s journey from mobile home park operator to capital allocator

04:11 - Why paying up for talent early makes sense

07:26 - The mobile home park deal that got away

13:24 - The different types of mobile home park operators and investors

17:15 - Brad Johnson’s best and worst mobile home park investments

27:15 - Partnering with mobile home park operators with proven track records

29:00 - Regions with the best success rates

31:30 - Comparing septic, wastewater treatment plants, and lagoon systems in mobile home parks

34:30 - Lightning Round: Markets, myths, and profit pitfalls

40:53 - How to connect with Brad Johnson of Vintage Capital

41:32 - Conclusion

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Vintage Capital: https://vintage-funds.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 think it’s easy to fall in love with the (mobile home park) model.” – Brad Johnson

“The management is one of the toughest parts of owning mobile home parks.” – Andrew Keel

“If you invest in mobile home parks in a diversified way, it’s really hard to lose money.” – Brad Johnson

Kevin Bupp: 16 Years of Mobile Home Park Investing, Lessons Learned & What’s Next

Andrew Keel — Thu, 28 Aug 2025 12:00:00 +0000

Welcome back to The Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel!
In today’s episode, Andrew sits down with industry leader Kevin Bupp, Founder & CEO of Sunrise Capital Investors.

If you’ve been tuning in for a while, you might remember Kevin’s appearance back in Episode 18 (2021). Now, he’s back to share fresh lessons and new perspectives gained from four more years of growing a nationwide mobile home park portfolio.

With more than 16 years in mobile home park investing, Kevin Bupp has become a recognized voice in the industry. His firm, Sunrise Capital Investors, manages communities across the U.S. while also expanding into parking facility investments. Beyond operations, Kevin is the bestselling author of The Cashflow Investor and the host of the top-rated Real Estate Investing for Cash Flow Podcast.

In this episode, Andrew Keel and Kevin Bupp dive into Kevin’s mobile home park investing journey and the lessons learned in the field, including:

The mobile home park deal that got away — and what it taught Kevin Bupp about risk, discipline, and timing.
How Kevin's mobile home park underwriting and approach to private utilities has evolved over time.
The story Andrew Keel uncovers about Kevin Bupp's very first mobile home park acquisition in Lovejoy, GA, and the challenges that came with it.
Kevin’s mission, discussed with Andrew Keel, to break the stigma around mobile home parks while providing affordable housing solutions.
Why Kevin Bupp is diversifying into parking garages and parking lots as part of his long-term investment strategy.
A fun, rapid-fire Q&A round where Andrew Keel puts Kevin Bupp on the spot with questions generated by AI ChatGPT.

Whether you’re exploring passive investing in mobile home parks, looking for insider insights into mobile home park syndication, or simply curious about what it takes to scale in this niche asset class, this candid conversation between Andrew Keel and Kevin Bupp is a must-listen.

Andrew specializes in turning around under-managed manufactured housing communities by implementing proven systems to maximize occupancy while reducing operating costs. His expertise includes:

Bringing in mobile homes to fill vacant lots.
Implementing utility bill-back programs.
Improving overall management and operating efficiencies in mobile home parks.

These strategies significantly boost both asset value and net operating income. Learn more at keelteam.com

Andrew has been featured on some of the top podcasts in the manufactured housing space. Listen to his most recent interviews here: keelteam.com/podcast-links.

To successfully implement his management strategy, Andrew’s team often relocates on-site during the first several months of ownership. Find out more about Andrew’s story at andrewkeel.com

Apple Podcasts (iPhone, iPad, or Mac users) Leave a Review on Apple Podcasts (Open the link, scroll down to “Ratings & Reviews,” then tap “Write a Review.”)

Want to see mobile home park projects in progress? Follow us on Instagram: @passivemhpinvesting for photos and videos from our latest acquisitions.

Talking Points:
00:21 - Welcome to The Passive Mobile Home Park Investing Podcast
02:25 - Kevin Bupp’s mobile home park deal that got away
07:25 - 16 years of mobile home park investing — expensive lessons Kevin has learned
10:00 - Private utilities and how Kevin got comfortable working with them
12:21 - How “back-of-the-napkin” math has changed over the years
15:10 - Gut versus spreadsheet
17:35 - Kevin’s first park in Lovejoy, GA
23:58 - Making a dent in the housing crisis and changing the stigma around mobile home parks
30:55 - Investing in parking garages and parking lots
31:45 - Florida vs. New York, busting mobile home park myths, clean mobile home communities, and mobile home park investing underwriting
33:46 - SCI Growth and Income Fund 4
35:35 - Conclusion

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Kevin Bupp’s Official Website: https://www.kevinbupp.com/

Kevin Bupp on LinkedIn: https://www.linkedin.com/in/kevinbupp/

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:

“But I don't think I've ever seen anything in our (mobile home park) portfolio that's operated less than the 35 % expense ratio. If you're doing everything right and you're putting money back in, you're setting aside necessary operational reserves and repairing things when they break.” - Kevin Bupp

“With a new market (if it’s new to you) just dive deeper into the analysis and don’t make offers on the back of napkins.” - Kevin Bupp

“One of our big audacious goals internally is to make a dent in the affordable housing crisis and basically do that by serving 15,000 families with homeownership.” - Kevin Bupp

Investing in mobile home parks for time freedom with Kyle Grimm

Andrew Keel — Tue, 04 Mar 2025 13:00:00 +0000

Welcome back to The Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel! In this episode, Andrew Keel sits down with Kyle Grimm, a full-time real estate investor based in Quincy, Illinois.

Kyle Grimm’s journey began in high school when he made his first investment—a house he purchased for just $5,000! Fast forward to today, and Kyle Grimm has built an impressive portfolio spanning single-family homes, small multifamily properties, self-storage facilities, mobile home parks, and even an RV campground. Currently, Kyle Grimm owns 330 mobile home park lots, with 95 more units under contract.

Kyle Grimm shares hard-earned lessons from his investing career, including his first mobile home park deal, the importance of vertical integration within mobile home park investing, and how to build a successful trailer park investment strategy.

Kyle Grimm and Andrew Keel also tackle mobile home park industry challenges like rent control regulations, cash flow management, and the stigma surrounding mobile home parks.

Listen in for real-world insights, actionable investing tips, and lessons from Kyle Grimm’s journey!

Andrew Keel is the owner of Keel Team, LLC, a Top 44 Owner of Manufactured Housing Communities with over 3,250 lots under management. His team currently manages over 40 manufactured housing communities across more than 15 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.

Check out Andrew Keel’s FREE e-book, “The Top 20 Things You Need to Know Before You Start Investing in MHPs” which you can also find on our website, https://keelteam.com/

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

02:51 - How Kevin Bupp’s influence shaped Kyle Grimm’s approach to Mobile Home Park investing

05:50 - The Top 20 Things You Need to Know Before You Start Investing in Mobile Home Parks

06:30 - Lessons from Kyle’s first mobile home park deal and the due diligence process

14:00 - Why real estate investing isn’t for everyone and common misconceptions

15:00 - Overcoming the stigma of manufactured housing community investing

19:37 - Vertical integration within mobile home park investing: learning to trust and delegate property management

26:19 - The danger of relying too much on cash flow for capex and infill

35:39 - Why having a great mobile home park operator makes all the difference

39:30 - What are Direct Billed trailer parks and how do they fit into Kyle Grimm's strategy?

45:00 - Rent control regulations and how they impact mobile home park owners

51:20 - Reaching out to Kyle Grimm

00:00 - Closing thoughts and final takeaways

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL: https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Kyle Grimm’s LinkedIn: https://www.linkedin.com/in/kyle-grimm-1aa207132/

Kyle Grimm’s website: https://thekylegrimm.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:

“At some point, you have to swing the bat.” - Kyle Grimm

“It’s not for everyone, I will say that. Especially something like mobile home parks.” - Kyle Grimm

“Once the (mobile home park) deal flow hits a certain threshold, then it was like, okay. I’m gonna have to turn away good deals if I don’t have the money to take ‘em down.” - Andrew Keel

“Park-owned (Mobile) homes are always more expensive than you think.” - Andrew Keel

Interview with Patrick McDonald & Nick Cebula of CMG Parks

Andrew Keel — Tue, 04 Feb 2025 13:00:00 +0000

Welcome back to The Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel! In today’s episode, Andrew sits down with Patrick McDonald and Nick Cebula, co-founders of CMG Parks to discuss their journey in building a 30 property mobile home park and RV park portfolio across six states, providing affordable housing for nearly 2,000 residents.

Patrick McDonald and Nick Cebula, both alumni of Washington State University come from backgrounds in medical sales management and financial planning. Together, they leveraged their expertise to launch a specialized real estate investment firm focused on value-add mobile home park opportunities in the Pacific Northwest.

In this episode, you'll learn:
- How Patrick McDonald and Nick Cebula transitioned from traditional careers into Mobile Home Park investing
- The unique challenges and opportunities in the Pacific Northwest Mobile Home Park market
- Why legislation, rent control, and park-owned homes can make or break a mobile home park investment
- The one big factor that allowed all three—Patrick McDonald, Nick Cebula, and Andrew Keel—to break into the mobile home park investing industry (and how you might have it too!)

If you’re looking for insider strategies to scale your mobile home park portfolio, this episode is a must-listen!

Andrew Keel is the owner of Keel Team, LLC, a Top 50 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 with Andrew Keel

03:04 – Why success in mobile home park investing takes time—and how having a supportive spouse can make a difference

07:20 – The importance of real estate education before diving into mobile home park investing

08:22 – Challenges with sub-metering utilities and dealing with below-market rents in Mobile Home Park investments

10:00 – Why park-owned mobile homes require skilled contractors and strong market fundamentals for success

15:17 – Finding and acquiring mobile home parks in the Pacific Northwest—opportunities and challenges

24:30 – Understanding timing and realistic investment timelines for scaling your Mobile Home Park portfolio via infill

32:00 – The key qualities of successful Mobile Home Park operators: business acumen, experience, and sufficient capital

38:19 – Navigating rent control laws and legislation affecting mobile home parks in certain blue states

40:36 – How to connect with Patrick McDonald and Nick Cebula for insights and investment opportunities

41:22 – The best advice for aspiring investors: "Just jump in!"

41:45 – Closing thoughts and final takeaways

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

CMG Parks: https://cmgparks.com/

Nick Cebula: nick@cmgparks.com

Patrick McDonald: patrick@cmgparks.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:

“Do it sooner and have faith in the process and just take the lead.” - Patrick McDonald

“The biggest thing in having a large (mobile home park) portfolio of park-owned homes is having a good contractor. Somebody that can actually flip these homes and get them ready.” - Patrick McDonald

“Always create two offers when you’re making an offer on a (mobile home park) property; one cash out with a loan, and the other doing a seller financing.” - Patrick McDonald

“You won’t know until you get that first one (mobile home park), but you can only listen to so many podcasts and read so much in this scene. Once you get that first one yourself, then you’ll figure things out. It’s not too difficult.” - Nick Cebula

Building a Wisconsin Mobile Home Park Portfolio With Dustin Wiskes

Andrew Keel — Tue, 14 Jan 2025 13:00:00 +0000

Join host Andrew Keel in this episode of The Passive Mobile Home Park Investing Podcast as he interviews special guest Dustin Wiskes, a full-time engineer and accomplished mobile home park investor in the state of Wisconsin.

Dustin Wiskes began his real estate journey in 2021 with a value-add, 28-space mobile home park in western Wisconsin. Just four years later, he now owns 9 mobile home communities with a total of approximately 275 pads, all located in Wisconsin.

Dustin Wiskes shares his inspiring mobile home park investing story of starting small and scaling up while balancing the demands of a full-time career. From navigating his first mobile home park deal to overcoming challenges like mobile home park utility infrastructure issues and market evaluation, Dustin Wiskes offers invaluable insights for investors at every stage of their journey.

Key Topics Covered in This Episode:

Dustin Wikes’ First Deal: Lessons learned from purchasing and managing a value-add mobile home park.
The Importance of Due Diligence: How proper research can prevent costly mistakes.
Submetered Mobile Home Parks: The advantages and potential challenges of submetering water and sewer.
Balancing a Full-Time Career and Real Estate: Tips for managing nine mobile home parks while working as an engineer.
Public Utilities vs. Septic Systems: Insights into infrastructure decisions and their impact on mobile home park operations.
Market Research: Evaluating Metropolitan Statistical Areas (MSAs) to identify lucrative opportunities.
Scaling a Portfolio: Strategies for growing your mobile home park investments while maintaining work-life balance.
Building Trust with General Partners (GPs): Establishing successful partnerships in real estate.
Overcoming Mobile Home Park Utility Infrastructure Challenges: Real-world examples of dealing with outdated systems and unengaged owners.

Whether you’re a seasoned mobile home park investor or just beginning to explore passive real estate investing, this episode is filled with actionable strategies and valuable lessons to help you grow your portfolio and achieve financial freedom.

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 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

04:00 - Dustin’s first mobile home park: lessons learned and key takeaways

08:00 - The importance of thorough mobile home park due diligence

10:45 - Advantages and challenges of submetered water and sewer in mobile home parks

13:30 - Managing nine mobile home parks while working full-time (feat. RentButter insights)

18:20 - Public utilities vs. septic tanks: what to know

20:00 - Acquiring used homes for mobile home parks

24:00 - Market research and evaluating bad infrastructure in mobile home parks

33:00 - Trusting and partnering with GP’s

37:00 - Managing the ups and downs of owning multiple mobile home parks

45:22 - Out-of-touch mobile home park owners: handling common challenges

47:00 - Researching MSAs and their importance

50:00 - Scaling your mobile home park portfolio while maintaining work-life balance

56:07 - How to connect with Dustin Wiskes

57:00 - Closing thoughts

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Dustin Wiskes’ Instagram: https://www.instagram.com/dustinwiskes/

RentButter: https://www.rentbutter.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 didn’t go through the due diligence handbook probably as well as I should have. I mean, I tried to do the main ones…And hindsight, I probably should have got a more proper survey done.” - Dustin Wiskes

“Clearly markets matter.” - Dustin Wiskes

“Other than the market, I would be wary of really bad (mobile home park) infrastructure.” - Dustin Wiskes

“That’d be fun if you want to go down a dirty (mobile home park) sewer line. Who doesn’t want to do that?” - Andrew Keel

What happens after a tornado rips through a mobile home park? An Interview with Temporary Housing Expert: Daniel J. Burnham

Andrew Keel — Thu, 26 Dec 2024 13:00:00 +0000

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 special guest in Daniel Burnham, managing member at Timberline Construction Group, LLC.

In this episode of The Passive Mobile Home Park Investing Podcast, Andrew Keel and Daniel Burnham discuss the critical topic of natural disasters and their impact on mobile home parks.

This episode is essential listening for mobile home park owners and investors who want to better prepare for and try to mitigate disaster-related challenges.

Key Takeaways from the Episode:

Providing temporary housing: Daniel shares the step-by-step process for creating temporary manufactured housing quickly after a natural disaster.
Collaborating with FEMA: Learn how to work effectively with FEMA to maximize the benefits of their assistance programs.
Optimal Mobile Home Park layouts: Explore Daniel’s recommendations for designing mobile home parks when developing from raw land.

About Daniel J. Burnham:

Daniel began his career at Timberline Construction Group, LLC while pursuing his degree in Business Management at the University of West Florida. Over the years, he has cultivated extensive expertise in construction and temporary housing, helping communities rebuild and recover in the wake of natural disasters.

About Timberline Construction Group, LLC:

Timberline Construction Group is an industry leader in:

Disaster recovery efforts: Partnering with federal, state, and local governments to provide immediate and long-term recovery solutions.
Mobile home park development: Expanding and improving manufactured housing communities with innovative and efficient construction practices!

Don’t miss this episode filled with expert insights on disaster recovery, mobile home park development, and collaboration with FEMA. Listen now!

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 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 - Managing a mobile home park after a TORNADO rips through.

04:20 - Working with FEMA: How to get support and what happens after the first 12 to 18 months.

12:00 - Mobile home park development and current building processes.

18:00 - Best practices for building mobile home parks from raw land.

19:15 - Why involving contractors early is critical to mobile home park investing success.

21:40 - Breaking down cost per mobile home park lot during ground up development.

23:45 - Investing in mobile home parks as a passive investor.

27:30 - Mobile Home Park key utility infrastructure recommendations from Daniel J. Burnham.

31:41 - How to connect with Daniel J. Burnham.

32:43 - Episode conclusion.

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Timberline Construction Group, LLC: www.timberlinecg.com

Timberline Construction Group, LLC phone number: 800-848-8300 (Clay Curtis)

FEMA’s federal acquisition side: https://sam.gov/

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:

“FEMA typically jumps in when insurance does not.” - Daniel J. Burnham

“In most cases [of temporary mobile home housing after a disaster], especially ones that we’re aware of, [displaced mobile home tenants] are simply temporary residents and so [FEMA] does not sell the units.” - Daniel J. Burnham

“From a building perspective and development perspective, having utilities close by is a huge money saver.” - Daniel J. Burnham

“You put bad data in, you get bad data out.” - Daniel J. Burnham

Interview with Jeff Flynn of Aspen Ridge Capital

Andrew Keel — Tue, 26 Nov 2024 13:00:00 +0000

Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode, Andrew Keel sits down with Jeff Flynn, a Navy veteran and founder of Aspen Ridge Capital, to discuss his remarkable transition from military service to mobile home park investing.

Jeff Flynn’s journey began during his final year in the Navy, when he worked as a mobile home park broker. Just three days after leaving the military, he fully immersed himself into his first mobile home park acquisition. In a short span, Jeff Flynn scaled his portfolio to eight mobile home parks and continues to focus on expanding his business.

Join Andrew Keel and Jeff Flynn as they explore the strategies that drive successful mobile home park investments. Topics include:

Transitioning to MHP Investing: How Jeff Flynn moved from the military to owning mobile home parks within days of completing his service.
Portfolio Growth and Syndication: Insights into scaling to eight parks and leveraging syndication effectively.
Strategies for Raising Rents: Proven methods for increasing rents while maintaining resident satisfaction.
Remote Management Success: How to manage mobile home parks from a distance using virtual assistants and on-site teams.
Scaling Challenges: The risks of growing too quickly and strategies to avoid common pitfalls.
AI Integration: How artificial intelligence has helped Jeff streamline operations and improve efficiency.
Networking and Learning by Osmosis: Gaining valuable knowledge through conversations and investor connections.
Creative Yet Disciplined Buying Criteria: Balancing flexibility and structure when targeting parks.
Value-Add Opportunities in Smaller Trailer Parks: Why Jeff Flynn focuses on small- to mid-sized mobile home parks and works closely with mom-and-pop owners.
Exit Strategies: Crafting a clear plan for long-term success in MHP investing.
Septic Systems vs. City Sewer: Weighing the pros and cons of each system for mobile home parks.
Infill Hacks and Niche Strategies: Tips for optimizing mobile home park occupancy and adding value.

This episode is packed with actionable insights for anyone interested in mobile home park investing, uncovering value-add opportunities, or scaling quickly and effectively in this niche market.

Listen now and start your journey toward passive MHP investing success!

***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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A mobile home park deal review (get live feedback on your own MHP deal!)
Mobile home park due diligence questions
How to raise capital from investors for mobile home parks
Mistakes to avoid in mobile home park investing, and more!

Click Here to book the 1 on 1 consultation: https://intro.co/AndrewKeel

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 – Introduction to The Passive Mobile Home Park Investing Podcast

01:00 – Jeff Flynn’s inspiring journey: From serving in the military to investing in mobile home parks

06:30 – Building a strong mobile home park portfolio: Jeff Flynn’s experience with syndication and scaling his investments

13:20 – Proven strategies for raising rents effectively in mobile home parks

17:00 – Remote management success: Utilizing virtual assistants and on-site teams to streamline operations

19:45 – The risks of scaling too quickly and how to avoid common pitfalls in mobile home park investing

21:30 – Leveraging artificial intelligence (AI) to optimize mobile home park systems and processes

26:00 – The power of networking: Gaining valuable insights from mobile home park investor conversations and learning through experience

29:18 – Striking the balance: Creativity and discipline in mobile home park buying criteria

30:50 – Unlocking value-add opportunities: Targeting smaller to mid-sized mobile home parks and building relationships with mom-and-pop owners

42:20 – Crafting a solid exit strategy: Why planning your endgame is crucial in mobile home park investing

45:00 – Septic systems vs. city sewer: Weighing the pros and cons for mobile home parks

47:07 – Creative infill strategies and niche tips for optimizing mobile home park occupancy

53:00 – How to connect with Jeff Flynn

53:30 – Closing thoughts and takeaways

SUBSCRIBE TO THE PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL: https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Jeff Flynn on LinkedIn: https://www.linkedin.com/in/jeffaflynn

Aspen Ridge Equity: https://www.aspenridge.info/

Keel Team’s official website: https://www.keelteam.com/

Andrew Keel’s official website: https://www.andrewkeel.com/

Andrew Keel’s LinkedIn: https://www.linkedin.com/in/andrewkeel

Andrew Keel’s Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Andrew Keel’s Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

“It’s easier to get lucky when you’re working hard.” - Jeff Flynn

“Nobody wants to pay more in rent, but they also want to make sure that the (mobile home park) community that their home is–more or less–stuck in, is continuing to be maintained.” - Jeff Flynn

“A lot of it was just sitting down and figuring out, ‘What am I doing that’s working? What am I doing that’s not?’ A lot of it is just learning on the job.” - Jeff Flynn

Interview with Jake Bond and Paras Shah of GSC Investments

Andrew Keel — Tue, 05 Nov 2024 13:00:00 +0000

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 two special guests, Jake Bond and Paras Shah of GSC Investments.

Since launching GSC Investments in 2016, Jake Bond and Paras Shah have built a thriving portfolio of over 40 institutional-quality mobile home parks, including two active ground-up development manufactured housing community projects. Together, they discuss their mobile home park investing journey and share valuable insights for building and maintaining high-quality mobile home communities that attract long-term, loyal residents in some of the nations top markets.

Join Andrew Keel, Jake Bond and Paras Shah as they dive into the strategies that set successful mobile home park investments apart. They cover essential topics like:

The importance of providing well-maintained, affordable mobile homes to foster stable mobile home park communities.
Effective tactics for attracting and retaining "sticky" tenants who view mobile home parks as their forever home.
Overcoming misconceptions and biases surrounding mobile home parks and reshaping public perception.
Navigating the impact of mobile home park rent control laws in the Pacific Northwest.
How market education and community density considerations play a role in sustainable mobile home park growth.

Tune in to gain a fresh perspective on the mobile home park investing industry and learn what it takes to succeed in this unique commercial real estate investment sector.

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.

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 with Andrew Keel

01:00 – GSC Investments’ Origin Story: How Jake Bond and Paras Shah Entered Mobile Home Park Investing

03:40 – Getting Started: Tips on Mobile Home Park Education and Setting Buying Criteria

11:10 – Key Factors in Mobile Home Park Design: Considering Density for a Balanced Community

13:00 – Anticipating Market Trends in Specific Mobile Home Park Communities

16:00 – The Hands-On Side of Mobile Home Park Management: Why It’s So Management-Intensive

20:18 – Valuable Lessons from Experience in Passive Mobile Home Park Investing

30:13 – Finding Your First Investment: Why Mobile Home Parks Make Great Starter Assets

32:30 – The Power of Persistence in Mobile Home Park Investing Success

38:15 – Navigating Rent Control: Effects on Mobile Home Park Investments in the Pacific Northwest

42:00 – Building Quality Mobile Home Park Communities: How to Attract Long-Term, Loyal Mobile Home Park Residents

51:00 – Shifting Perspectives: Educating the Public on the Value of Mobile Home Parks

53:00 – Connect with Jake Bond and Paras Shah

53:53 – Wrap-Up and Final Thoughts

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Jake bond’s email: jake@gscinvestments.com

Paras Shah’s email: paras@gscinvestments.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 can’t build (mobile home parks) vertically. We get no density, right? So we have to build horizontally and that requires a lot of acreage.” - Jake Bond

“The hardest part about manufactured housing is maintaining the quality and integrity of the community as well as the (mobile) homes and the (mobile home park) lots and I think that people discount or do not take into account how difficult it truly is to be effective and efficient in bringing new homes to revitalize.” - Jake Bond

“Like brokers, when you’re new to this space, they don’t really take you seriously. You’re obviously, and I mean, especially today, you have a lot more capital chasing deals, a lot of new investors in the space” - Paras Shah

“Some of the best investments are the ones where perception doesn’t meet reality and that’s the case with MH (Mobile Home Parks).” - Paras Shah

“Manufactured housing is the only form of affordable housing that is unsubsidized.” - Paras Shah

Top Risks: Buying Mobile Home Parks with Small Lots and Older Mobile Homes

Andrew Keel — Tue, 29 Oct 2024 09:00:00 +0000

Welcome back to another episode of The Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel!

In this episode, Andrew Keel dives deeper into his mini-series on some of the key risks in mobile home park investing, highlighting a critical yet often overlooked topic: investing in mobile home parks with small lot sizes and older mobile homes.

Andrew Keel discusses essential factors to consider, including:

Challenges in Sourcing and Selling Smaller Mobile Homes: Discover why smaller mobile home park lot sizes can limit options and impact profitability.
Zoning Hurdles: Learn about potential zoning and setback restrictions and how they can affect mobile home park operations.
What is a Mobile Home’s Life Expectancy?: Understand the typical lifespan of older mobile homes and the maintenance costs that come with them.

Tune in for valuable insights and practical strategies to help you navigate these unique challenges and make smarter, more informed decisions in mobile home park investing.

***Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This episode is for informational purposes only and should not be depended upon for investment purposes. ***

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A mobile home park deal review (get live feedback on your own MHP deal!)
Mobile home park due diligence questions
How to raise capital from investors for mobile home parks
Mistakes to avoid in mobile home park investing, and more!

Click Here to book the 1 on 1 consultation: https://intro.co/AndrewKeel

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 - Introduction: Welcome to The Passive Mobile Home Park Investing Podcast!

01:24 - Key Challenges: Exploring the complexities of investing in mobile home parks with smaller lots and older mobile homes.

01:47 - Market Desirability: Understanding why older mobile homes can be more challenging to sell and how this impacts market value.

03:04 - Sourcing Suitable Mobile Homes: Strategies for finding mobile homes that fit smaller lot sizes.

04:05 - Life Expectancy of Mobile Homes: Insights into the typical lifespan and maintenance needs of older mobile homes.

05:54 - Navigating Zoning Restrictions: Important zoning considerations and how they affect mobile home park investments.

08:11 - Key Takeaways for Investors: A recap of essential insights for passive mobile home park investors.

09:35 - Closing Remarks: Wrapping up the episode with final thoughts and next steps.

SUBSCRIBE TO THE PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL HERE: 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:

“We want that reliable cash flow, with sticky tenants that stay a long time in these (older mobile homes) park models or smaller, 12-foot-wide older mobile homes, is where we are seeing higher turnover.” - Andrew Keel

“If the vacant (mobile home park) lot stays vacant for six months or longer, they might not allow you to bring in a (mobile) home to fill that vacant lot due to this non-conforming zoning use.” - Andrew Keel

“The only people who win in litigation are typically the attorneys via paying them a ton of money” - Andrew Keel

“It's going to be harder to sell [older, smaller mobile] homes when they do go vacant.” - Andrew Keel

Top Risks: Private vs. Public Utilities in Mobile Home Park Investing

Andrew Keel — Tue, 15 Oct 2024 12:00:00 +0000

Welcome back to another episode of The Passive Mobile Home Park Investing Podcast with your host, Andrew Keel! In this episode, Andrew dives into a crucial aspect of mobile home park investing: utility infrastructures.

Utilities are a key factor that can make or break a mobile home park investment. Whether you’re a new or experienced mobile home park investor, understanding the risks tied to both private and public utility systems is essential for safeguarding your investment.

As part of Andrew’s ongoing series on some of the top risks in mobile home park investing, today’s discussion highlights the differences between private and public utility systems. Private utility systems include things such as well water treatment and septic sewer systems, lagoon sewer systems and wastewater treatment plants. Public water and sewer is always the most preferred setup when buying a mobile home park and Andrew discusses why…

You’ll learn practical tips on how to evaluate these utility systems during the due diligence process to avoid costly mistakes and maximize your returns.

Key Points Covered in This Episode:

Utility Due Diligence in Mobile Home Park Investing: What you need to know when evaluating utility systems during your investment process.
Private Utilities in Mobile Home Parks: A closer look at well systems and sewer infrastructure, and how they can impact your mobile home park's operation. Why lagoon systems and wastewater treatment plants are potential red flags you should avoid.
Public Utilities in Mobile Home Parks: Why are they preferred?
Lift Stations inside of a Mobile Home Park: Understanding the role of lift stations and why they’re critical in both private and public utility setups.
MHU (Mobile Home University) Reference Library: Discover how to leverage Mobile Home University’s due diligence checklist for utilities to ensure a thorough evaluation.
Orangeburg Sewer Lines: Learn about the impact of aging Orangeburg sewer lines on utility decisions and how they can affect older mobile home parks.

By the end of this episode, you'll have a better understanding of the challenges and risks associated with mobile home park utility infrastructure and how to potentially navigate them to make more informed, risk-conscious mobile home park investment decisions.

Don’t miss out on this essential information for protecting and growing your mobile home park investments!

Be sure to subscribe, rate, and leave a review for The Passive Mobile Home Park Investing Podcast to stay updated with more expert insights.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A mobile home park deal review (get live feedback on your own MHP deal!)
Mobile home park due diligence questions
How to raise capital from investors for mobile home parks
Mistakes to avoid in mobile home park investing, and more!

Click Here to book the 1 on 1 consultation: https://intro.co/AndrewKeel

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

00:53 - Key Considerations for Utility Due Diligence in Mobile Home Park Investing

03:00 - Deep Dive into Mobile Home Park Private Utilities: Well Systems and Sewer Infrastructure

03:54 - Mitigating Risks with trailer park Utilities: Why You Should Steer Clear of Lagoon Systems and Wastewater Treatment Plants in Mobile Home Park Investing

08:21 - Understanding the Importance of Lift Stations in Both Private and Public Mobile Home Park Utility Setups

12:15 - Utilizing the MHU (Mobile Home University) Reference Library: Your Essential Due Diligence Checklist for Utilities

14:42 - The Impact of Orangeburg Sewer Lines on Utility Decisions in Mobile Home Parks

16:11 - Recap: Key Takeaways on Private vs. Public Utilities in Mobile Home Park Investing

21:03 - Conclusion

SUBSCRIBE TO 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

MHU (Mobile Home University): https://www.mobilehomeuniversity.com/

Quotes:

“Understand what you’re buying and what the (mobile home park) utility infrastructure looks like.” - Andrew Keel

“I’ve been burned and spent so much money on fixing broken water lines because of freezing and thawing them out in the middle of January.” - Andrew Keel

“Don’t buy (mobile home) parks with lagoon systems and stay away from wastewater treatment plant parks..” - Andrew Keel

Top Risks: Mobile Home Parks In Tertiary Markets

Andrew Keel — Tue, 08 Oct 2024 12:00:00 +0000

Welcome back to another episode of The Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel!

In today’s episode, Andrew Keel continues his insightful mini-series on some of the top risks involved in mobile home park investing. This episode zeroes in on the risks specific to investing in mobile home parks in tertiary markets—areas with smaller populations that can offer both unique opportunities and significant challenges for trailer park investors.

Andrew Keel breaks down the specific risks associated with mobile home park investing in tertiary markets, ranging from limited infrastructure to economic instability, and offers actionable strategies to potentially mitigate these risks.

Key Points Covered in This Episode Include:

Low population density and the impact of reduced demand in tertiary mobile home park markets
How the distance from key amenities can affect the value and performance of mobile home park investments
Challenges of selling mobile homes in small towns, and effective strategies to overcome these obstacles
Longer travel times for mobile home park owners and operators, and how this impacts management efficiency
The difficulty of finding reliable service providers and contractors in remote areas
The financial risks of infill costs in mobile home park investments in less populated regions
Limited options for utility companies, and how this can complicate mobile home park operations
Public transportation limitations in tertiary markets and their effect on tenant demand and mobile home park investing success

If you're thinking about mobile home park investing in tertiary markets, it’s crucial to understand these risks and how to navigate them effectively.

Whether you're a seasoned mobile home park investor or just starting your passive investing journey, this episode offers valuable insights to help you make informed decisions and manage the complexities of investing in mobile home parks located in tertiary markets.

Tune in now to learn how to evaluate and manage these investment risks, protect your assets, and potentially achieve long-term success in mobile home park investing!

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A mobile home park deal review (get live feedback on your own MHP deal!)
Mobile home park due diligence questions
How to raise capital from investors for mobile home parks
Mistakes to avoid in mobile home park investing, and more!

Click Here to book the 1 on 1 consultation: https://intro.co/AndrewKeel

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 – Introduction: Welcome to The Passive Mobile Home Park Investing Podcast

01:50 – Risks of low population density and reduced demand in tertiary mobile home park markets

02:30 – Impact of distance from key amenities in small, tertiary mobile home park markets

03:00 – Challenges and strategies for marketing and selling mobile homes in small towns

04:30 – Longer travel times for mobile home park owners and operators in tertiary markets

05:40 – Difficulty finding service providers and contractors in remote areas

06:30 – Infill costs and the financial risks involved in tertiary market mobile home parks

07:15 – Limited options for utility companies in less populated regions and the impact on mobile home park utilities

08:52 – Public transportation issues in tertiary markets and their impact on mobile home park tenants

SUBSCRIBE TO 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:

“There’s a lot of demand for affordable housing but if you’re in the middle of nowhere and there’s not a lot of employers around, there’s not going to be a lot of demand.” - Andrew Keel

“There’s little to no sufficient public transportation and with affordable housing, our tenant base is most vulnerable. They typically need public transportation to get to their jobs..” - Andrew Keel

“The big risk of buying mobile home parks in tertiary markets is, you should always have the end in mind. Who’s the next buyer?” - Andrew Keel

Top Risks: Why Infill & Low Occupancy Mobile Home Park Projects Add Risk For Passive Investors

Andrew Keel — Tue, 01 Oct 2024 12:00:00 +0000

Welcome back to The Passive Mobile Home Park Investing Podcast with your host, Andrew Keel!

In this episode, Andrew Keel continues this insightful mini-series on some of the top risks involved with mobile home park investments. This time, the focus is on value-add mobile home park projects—particularly those with substantial infill and occupancy needs—and the heightened risks they present for passive investors and limited partners.

Andrew breaks down the key challenges infill-heavy projects pose, offering practical advice on budgeting, avoiding common pitfalls, and understanding critical infrastructure costs.

If you’re looking to invest into value-add infill mobile home parks, this episode is packed with actionable strategies to help you navigate these risks and make smarter decisions.

Key topics covered include:

The increased risk tied to value-add mobile home park projects with extensive infill
Budgeting tips and strategies to manage infill-related expenses
Weighing the pros and cons of using new versus used mobile homes in infill projects
How to match home sizes with lot sizes for maximum efficiency
Understanding the true cost of foundation concrete work and utility infrastructure upgrades

Whether you're a seasoned mobile home park investor or just starting your journey, Andrew Keel offers valuable insights to help you potentially minimize risk and boost returns.

Tune in now to gain the knowledge you need to enhance your mobile home park investment strategy!

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A mobile home park deal review (get live feedback on your own MHP deal!)
Mobile home park due diligence questions
How to raise capital from investors for mobile home parks
Mistakes to avoid in mobile home park investing, and more!

Click Here to book the 1 on 1 consultation: https://intro.co/AndrewKeel

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 with Andrew Keel

01:16 – Budgeting Tips and Common Mistakes for New Mobile Home Park Investors

05:21 – Managing Concrete Costs and Raising Misc Funds for Unforeseen Expenses

08:36 – Navigating Utility Hookups, Infrastructure Challenges, and Ground Shifting Issues

13:25 – Why Skirting is Crucial for Mobile Homes: Protecting Your Investment

15:29 – New vs. Used Mobile Homes: Pros, Cons, and What’s Best for Infill Projects

19:50 – How to Match Mobile Home Size to Lot Size for Optimal Results in Mobile Home Parks

21:53 – Understanding Execution Risks and Infill Strategy in Value-Add Mobile Home Parks

25:00 – Andrew’s First Mobile Home Park Deal: Insights on Funding, Liquidity, and Loans

27:19 – Partnering with Experienced Mobile Home Park Operators for Success

SUBSCRIBE TO 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:

“It's really, really, really tough to know exactly what it will cost until you're in the (Mobile Home Park) trenches doing it.” - Andrew Keel

“(Mobile Home Park) Utility hookups add more complexity. That's a risk; every municipality, the utility company may have different requirements.” - Andrew Keel

“There is more regulation and more requirements for infilling new manufactured homes than there is typically is with used (Mobile) homes.” - Andrew Keel

“Be careful on these projects as the numbers typically look good on infill value add mobile home park deals on the spreadsheet.” - Andrew Keel

Top Risks: Converting Park-Owned Mobile Homes (POH) To Tenant-Owned Mobile Homes (TOH)

Andrew Keel — Tue, 24 Sep 2024 12:00:00 +0000

Welcome back to the Passive Mobile Home Park Investing Podcast with your host, Andrew Keel! In this episode, Andrew Keel kicks off a new mini-series on some of the top risks associated with owning a mobile home park.

In this first installment, Andrew Keel dives deep into the critical process of converting park-owned mobile homes (POH) to tenant-owned mobile homes (TOH)—a pivotal strategy for many mobile home park investors.

As a seasoned mobile home park operator, Andrew Keel discusses some of the risks associated with transitioning a mobile home park from POH to TOH, providing a step-by-step guide for investors looking to maximize returns while reducing management headaches. He also shares essential insights that every passive investor should know before embarking on this trailer park conversion process.

While mobile home park investing could potentially offer tremendous cash flow opportunities, success largely depends on understanding and executing the park-owned mobile homes (POH) to tenant-owned mobile homes (TOH) conversions effectively.

Whether you're a first-time investor or seeking to improve your current mobile home park portfolio, this episode is jam packed with actionable advice to help you potentially boost profitability and mitigate risk.

Key Topics Covered:

The pros and cons of owning park-owned mobile homes (POH) vs. tenant-owned mobile homes (TOH).
A step-by-step guide to converting POH to TOH.
Common pitfalls to avoid during the park-owned mobile home conversion process.
How converting to tenant-owned mobile homes could possibly lead to increased net cash flow and reduced management effort.

Tune in now to discover how you can make informed and profitable decisions as a passive investor in mobile home parks!

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A mobile home park deal review (get live feedback on your own deal!)
Mobile home park due diligence questions
How to raise capital from investors for mobile home parks
Mistakes to avoid in mobile home park investing, and more!

Click Here to book the 1 on 1 consultation: https://intro.co/AndrewKeel

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:

00:30 – Introduction to the new series on some of the top mobile home park investment risks and challenges.

01:00 – The ins and outs of converting park-owned mobile homes to tenant-owned mobile homes.

04:48 – Rules regarding how many mobile homes you can sell without needing a mobile home park dealer’s license.

06:50 – Handling tenant turnover and rehabilitating mobile home park properties.

10:05 – The concept of “handyman specials” and how they can impact a mobile home park’s profitability.

12:21 – Tips for marketing your mobile home park effectively to attract long-term tenants.

13:26 – Finding, vetting, negotiating, and financing for “sticky” mobile home park tenants who are likely to stay long-term.

19:07 – Conclusion and final takeaways on managing risks in mobile home park investments.

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Ryan Narus’ LinkedIn: https://www.linkedin.com/in/ryan-narus-87293417/

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:

“[Converting park-owned mobile homes to tenant-owned mobile homes is] not as simple as just, ‘Okay, here we're going to give you the title after we, you know, close on the park.’ There's a lot of dynamics that go into this..” - Andrew Keel

“If you're going to get those (mobile homes) homes back, you've got to make sure that you're providing a good home to the new resident moving in, otherwise, they'll turn over again.” - Andrew Keel

“We’re trying to get sticky tenants. We’re trying to get residents that enjoy the community. They are going to stay there a long time because they’re only paying lot rent.” - Andrew Keel

“That is the gem behind mobile home parks and mobile home park investing is the stickiness of the tenant base once they own their own homes.” - Andrew Keel

Institutional Deals with Mike Nissley of Colliers Manufactured Housing & RV Group

Andrew Keel — Wed, 18 Sep 2024 12:00:00 +0000

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 Mike Nissley, founding member, Vice Chair and National Director of the Manufactured Housing & RV Group at Colliers.

With an estimated $100 billion in manufactured housing community sales, consulting, valuation, and financing under his belt, Mike Nissley brings a wealth of experience, including high-profile assignments for major MH industry players like Parkbridge, Keystone, Carlyle, Sun, RHP, ELS, Inspire, Yes! Communities, and CAPREIT.

Recently, Mike Nissley led the sale of a $200 million, 24-property Canadian manufactured home portfolio, marking the 2nd largest portfolio acquisition in Canada’s manufactured home and RV resort sector. He also successfully closed major deals in Florida, including a $114 million and $86 million mobile home community (MHC) portfolio in 2022 and 2023, respectively.

During the conversation, Andrew Keel and Mike Nissley dive into critical topics such as:

Key steps for determining the value of mobile home parks
Challenges and opportunities of park-owned mobile homes
Mobile home park due diligence essentials
How institutional investors evaluate mobile home parks
Building a winning team in the mobile home park sector

Mike Nissley also shares his personal journey into mobile home park investing, offering actionable insights for both seasoned investors and those just starting out.

If you’re looking to deepen your knowledge of mobile home park investments, this episode is packed with expert tips and strategies to guide your success.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A mobile home park deal review (get live feedback on your own deal!)
Mobile home park due diligence questions
How to raise capital from investors for mobile home parks
Mistakes to avoid in mobile home park investing, and more!

Click Here to book the 1 on 1 consultation: https://intro.co/AndrewKeel

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 - Mike Nissley’s journey into Mobile Home Park Investing

08:06 - Building a Winning Team at Colliers

12:14 - How Institutional Investors View Mobile Home Parks

15:30 - Key Steps to Determine a Mobile Home Parks Value

21:06 - Institutional mobile home park Buyers and Park-Owned Homes (POH’s)

25:35 - Mike Nissley’s Most Challenging Deals and Major Hurdles in Mobile Home Park Investing

29:29 - Essential Due Diligence for Mobile Home Park Investments

32:23 - Why Beginners Should Avoid Park-Owned Homes

33:50 - Strategies for Passive Mobile Home Park Investing

35:50 - The Gold Standard in Mobile Home Park Investing

38:13 - Understanding Rent Control Regulations

42:44 - How to Reach Out to Mike Nissley for Expert Advice

43:27 - The Importance of Partnering with a Good Mobile Home Park Operator

43:51 - Conclusion

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Colliers: https://www.colliers.com/en

Colliers Manufactured Housing and RV Group: https://www.colliers.com/en/services/manufactured-housing

Mike’s email: Mike.Nissley@colliers.com

Mike’s phone number: (561) 479-1588

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're advising a client, having that experience, it's not just a spreadsheet, it's a lot more than that.” - Mike Nissley

“We don't hear much about that, right? The global MH (Mobile Home Park) platform, that there are caravan parks and mobile home trailer parks in other countries.” - Andrew Keel

“Make sure you have a good (mobile home park) operator to partner with.” - Mike Nissley

Interview with Yonah Weiss on Mobile Home Park Investment Tax Benefits in 2024

Andrew Keel — Wed, 04 Sep 2024 12:00:00 +0000

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 the "king of cost segregation studies," Mr. Yonah Weiss of Madison Specs and Weiss Advice.

As the Business Director at Madison SPECS, Yonah has been instrumental in saving clients hundreds of millions of dollars through strategic tax planning. He’s a highly respected figure in the commercial real estate (CRE) world and host of the popular Weiss Advice podcast.

Together, Andrew Keel and Yonah Weiss explore the powerful impact of cost segregation through mobile home park investments. They dive into the intricacies of cost segregation studies, uncover common pitfalls, and track the evolution of bonus depreciation from 2020 to today. They also look ahead to what the future may hold for these essential tax-saving strategies.

Throughout the episode, you’ll discover how to maximize your returns by effectively leveraging cost segregation and bonus depreciation, understand the best timing for these strategies, and learn when they might NOT be the optimal choice. Additionally, the conversation covers key topics like capital expenditures and the importance of diversification when building a resilient mobile home park investment portfolio.

Don’t miss this chance to gain invaluable insights from Andrew Keel and Yonah Weiss that could transform your mobile home park investment approach.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 - Yonah Weiss’ background

04:15 - 2017 Trump tax law

05:30 - What is cost segregation?

08:15 - How mobile home park investors and owners can use cost segregation.

12:45 - When does it NOT make sense to order a cost segregation study?

16:21 - Bonus depreciation in 2024 versus 2020

19:45 - Capital expenditures

21:11 - Allocating goodwill to reduce the amount of property tax on your mobile home park investment

22:57 - Depreciation recapture

25:15 - Scenarios where depreciation recapture could backfire

29:45 - What mobile home park investors should look out for in the future in terms of depreciation and new tax laws

31:00 - Contacting Yonah Weiss

31:16 - The importance of diversifying with mobile home park investments

32:21 - Conclusion

SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ

Links & Mentions from This Episode:

Yona Weiss, LinkedIn: https://www.linkedin.com/in/cost-segregation-yonah-weiss/

“How To Pay Zero Income Taxes (Legally) While Making 6-7 Figures”: https://themobilehomelawyer.com/podcast/ep-22-how-to-pay-zero-income-taxes-legally-while-making-6-7-figures/

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's, you know, think about it like an appraisal, but a very detailed one in using the IRS's, you know, kind of handbook, what's called the conservation audit techniques guide.” - Yonah Weiss

“I'm a huge fan of cost seg. We order one, you know, still on all of our new properties. And It's been great, I mean, the carry forward that we get is huge.” - Andrew Keel

“The bonus depreciation, when it came into law, had a phase-out component to it, which means that in 2023, if you bought a property, it was 80%. For 2024, we buy a property this year. It's a 60% bonus.” - Yonah Weiss

“Goodwill is something that’s very common when you’re talking about business acquisition.” - Yonah Weiss

10 Common Due Diligence Mistakes in Mobile Home Park Investing

Andrew Keel — Tue, 27 Aug 2024 12:00:00 +0000

Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode, Andrew takes you through 10 common due diligence mistakes that newcomers often make when entering the mobile home park investing space. With his extensive experience, Andrew Keel breaks down each pitfall, offering valuable insights and practical advice on how to avoid them.

Here are the 10 mistakes to watch out for:

Failing to Obtain a Mobile Home Park Zoning Certificate: Before buying a mobile home park that requires infill, securing a zoning certificate with setback requirements is crucial.
Overlooking the Property Tax Increase: Be prepared for the property tax increase that often comes in the second year after your purchase. Re-assessing the property to the new purchase price from the sale.
Opting for a Mobile Home Park Boundary Survey Instead of an ALTA Survey: An ALTA survey provides more comprehensive information, which is essential for accurate due diligence.
Neglecting to Review a Full Year of the Mobile Home Park’s Utility Bills: Ensure you examine 12 months of water and sewer utility bills and usage data to avoid surprises.
Skipping the Phase One Environmental Inspection: This inspection is vital to uncover any potential environmental risks before purchasing.
Failing to Inspect Behind Mobile Homes: Don’t skip physically walking behind the mobile homes; it’s key to understanding the true condition of the property.
Failing to Inspect Inside Park-Owned Mobile Homes: Thoroughly inspecting the interiors of mobile homes is essential for uncovering hidden issues.
Overlooking Park-Owned Mobile Home Lost Title Costs: Account for the expenses related to obtaining and managing titles for park-owned homes.
Neglecting to Discuss Responsibilities with the Power Company Engineer: A clear discussion with the power company engineer can prevent costly misunderstandings down the line.
Skipping a Review of the Mobile Home Park’s Google Reviews: Reading the Google My Business reviews for the mobile home park can reveal important red flags.

Tune in now to discover why thorough due diligence is crucial for making informed decisions, reducing risk, and protecting your mobile home park investments. By dedicating time and resources to this pre-purchase due diligence process, you’ll be more likely to secure a sound and profitable mobile home park investment for the long term.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

00:35 - Failing to Obtain a Mobile Home Park Zoning Certificate

03:22 - Overlooking the Property Tax Increase

07:15 - Opting for a Mobile Home Park Boundary Survey Instead of an ALTA Survey

10:55 - Neglecting to Review a Full Year of the Mobile Home Park’s Utility Bills

15:30 - Skipping the Phase One Environmental Inspection

18:45 - Failing to Inspect Behind the Mobile Homes

20:05 - Failing to Inspect Inside Park-Owned Mobile Homes

21:32 - Overlooking Park-Owned Mobile Home Lost Title Costs

23:06 - Neglecting to Discuss Responsibilities with the Power Company Engineer

26:04 - Not Reviewing the Mobile Home Park’s Google Reviews before purchase

28:18 - Conclusion

SUBSCRIBE TO 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:

“Property taxes year after year will likely go up.” - Andrew Keel

“When I would go to refi and use an agency lender, they would require an ALTA survey be done.” - Andrew Keel

“Talk to the tenants. Walk through the parks before you buy the parks and say, ‘Hey, how have the water and sewer utilities been here?’” - Andrew Keel

“You want to know what you're getting into, and it's really hard to see if you don't get out of your car and walk behind the mobile homes.” - Andrew Keel

Interview with John Lindley, President of the Michigan Manufactured Housing Association

Andrew Keel — Wed, 14 Aug 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Top Lessons Learned From Over 120+ LP Investments with Joe Fairless

Andrew Keel — Tue, 06 Aug 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

How To Make A Million Dollars Buying A Mobile Home Park

Andrew Keel — Thu, 01 Aug 2024 12:00:00 +0000

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

2024 Interview with Nick Najjar of ACS Communities and Elephant Capital Partners

Andrew Keel — Tue, 02 Jul 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with John Evans of Six Rock Properties

Andrew Keel — Wed, 26 Jun 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Brian Spear of Sunrise Capital Investors

Andrew Keel — Tue, 18 Jun 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Glenn Yaney of Vertical Equity Partners

Andrew Keel — Tue, 11 Jun 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

NEW 2024 Interview with Daniel Weisfield of Three Pillar Communities (who now owns over 10,000 lots!)

Andrew Keel — Tue, 04 Jun 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Loan Broker Scott Modelski of Black Bear Capital

Andrew Keel — Tue, 28 May 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Dave Foster of The 1031 Investor

Andrew Keel — Tue, 21 May 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Steve Edel & Justin Gonzales from Due Diligence Partners

Andrew Keel — Tue, 14 May 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Jordan Nodel of Nodel Parks

Andrew Keel — Tue, 07 May 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with LP Investor Advisor Aleksey Chernobelskiy of Centrio Capital Partners

Andrew Keel — Tue, 30 Apr 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Tracy Renna of MH Title Brokers

Andrew Keel — Tue, 23 Apr 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Jordan Savitsky of 50West Capital

Andrew Keel — Tue, 16 Apr 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Michael O'Connor of mPark Partners LLC

Andrew Keel — Tue, 09 Apr 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Walter Johnson of Sonos Capital

Andrew Keel — Tue, 02 Apr 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Mobile Home Park Appraiser Erik Hanson from Colliers Valuation & Advisory Services

Andrew Keel — Tue, 26 Mar 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

NEW March 2024 Interview with Frank Rolfe of Mobile Home University

Andrew Keel — Tue, 12 Mar 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Feb. 2021 Interview with Frank Rolfe of MHU (Ep. 40 Replay)

Andrew Keel — Mon, 04 Mar 2024 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Cory Harelson of Freedom Investing Group

Andrew Keel — Tue, 27 Feb 2024 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Nick Chapman of South-East Family Housing

Andrew Keel — Tue, 20 Feb 2024 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Owner/ Operator Roger King of Kings Unlimited LLC

Andrew Keel — Wed, 14 Feb 2024 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Frank Rizzo of Stone Capital Investors and MHP Exchange

Andrew Keel — Wed, 07 Feb 2024 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Brad Rymer the former CFO of RV Horizons (Ep. 49 Replay)

Andrew Keel — Fri, 02 Feb 2024 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Jeff Cook of Cook Properties NY

Andrew Keel — Tue, 30 Jan 2024 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Zach Dixon of Green River Capital Partners

Andrew Keel — Tue, 23 Jan 2024 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Scott MacNeil, CEO of Performance Equity Partners (PEP Lending)

Andrew Keel — Tue, 16 Jan 2024 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Mobile Home Park Investment Sales Broker Maxwell Baker of The MHP Broker

Andrew Keel — Tue, 09 Jan 2024 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Alex Donnolo of Mavdon Investments

Andrew Keel — Tue, 02 Jan 2024 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Shawn Dwyer of Golden Oak REI

Andrew Keel — Tue, 26 Dec 2023 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Jefferson Lilly of Park Avenue Partners

Andrew Keel — Tue, 19 Dec 2023 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with the Trailer Park King, Jose Garcia

Andrew Keel — Tue, 12 Dec 2023 09:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Travis Watts, Director of Investor Education at Ashcroft Capital

Andrew Keel — Tue, 05 Dec 2023 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Affordable Housing Influencer Franco Perez of Franco Mobile Homes

Andrew Keel — Thu, 30 Nov 2023 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Pasha Esfandiary of Evoke Capital

Andrew Keel — Tue, 21 Nov 2023 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Abraham Anderson of Capital Communities

Andrew Keel — Tue, 14 Nov 2023 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Mobile Home Park Sales Broker Kris Wessel of NAI Martens

Andrew Keel — Tue, 07 Nov 2023 13:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Cost Seg Expert Eden Markowitz on Why Mobile Home Parks Are A Known Tax Shelter for the ULTRA WEALTHY!

Andrew Keel — Tue, 31 Oct 2023 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Kirby Horton from The Firm: Value-Add and Infill Specialist Mobile Home Park Operator

Andrew Keel — Tue, 24 Oct 2023 12:00:00 +0000

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 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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Tim Woodbridge- Healthcare Professional Turned Full-Time Mobile Home Park Investor

Andrew Keel — Tue, 10 Oct 2023 09:01:00 +0000

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 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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Matthew Ricciardella, Founder of Crystal View Capital

Andrew Keel — Tue, 03 Oct 2023 12:00:00 +0000

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 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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Steve Case, Active Mobile Home Park Investor and founding member of SECO

Andrew Keel — Tue, 26 Sep 2023 10:00:00 +0000

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 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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Larry Abramowitz from Broadview Capital Partners

Andrew Keel — Tue, 19 Sep 2023 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Ben Braband from Saddleback Valley Communities

Andrew Keel — Mon, 11 Sep 2023 12:00:00 +0000

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 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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

09:50 - Mobile home parks during the 2008-2010 recession

12:00 - Ben’s current portfolio of mobile home parks

13:29 - Ben’s perfect mobile home park looks like this!

18:45 - Recycling equity $

21:00 - The shift in capital dynamics: Then vs. now

23:15 - Uncovering opportunities through word-of-mouth networks

28:00 - Ben’s strategy with park-owned homes (POH’s vs. TOH’s)

32:00 - Evolution of Ben's mobile home park investing strategy over the years

37:29 - Secondary and tertiary markets versus primary markets

40:20 - Weak due diligence and making bad assumptions!

47:14 - What does the future in mobile home park investing look like?

48:56 - Getting in contact with Ben Braband

49:18 - Conclusion

Links & Mentions from This Episode:

Ben’s email: ben@saddlebackpro.com

Saddleback Valley Communities website: https://saddlebackpro.com/

Connect with Ben Braband on LinkedIn: https://www.linkedin.com/in/ben-braband-5661519

Keel Team's official website: https://www.keelteam.com/

Andrew Keel's official website: https://www.andrewkeel.com/

Andrew Keel's LinkedIn: https://www.linkedin.com/in/andrewkeel

Andrew Keel's Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Andrew Keel's Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

“The big strategy for me is getting a foothold somewhere and planting a flag that's large enough to support the way that we operate and then bolting on around it.” - Ben Braband

“I really like clustering and concentration. I don't like the shotgun approach.” - Ben Braband

“Winning hearts and minds takes a lot more time than people realize.” - Ben Braband

“Avoid the urge to assume that you can do so much better than some sort of industry standard. I think it is a pretty valuable lesson to learn as early as you can in your career.” - Ben Braband

Interview with Patrick Hagens from MHP Communities

Andrew Keel — Tue, 29 Aug 2023 11:00:00 +0000

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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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: https://www.linkedin.com/in/patrick-hagens-aa519778

Keel Team's official website: https://www.keelteam.com/

Andrew Keel's official website: https://www.andrewkeel.com/

Andrew Keel's LinkedIn: https://www.linkedin.com/in/andrewkeel

Andrew Keel's Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Andrew Keel's Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

"I would say, you know, jump in on your own and buy, you know, a smaller park and learn. I mean, you can do both, you can own a park and invest in other funds." - Patrick Hagens

"Don't invest blindly. That never works no matter what you're talking about." - Patrick Hagens

"So what could be possible is there… It's just like making that more mainstream and getting the manufacturers on board." - Andrew Keel

"People don't realize, which I'm surprised about, manufactured homes are not built with the same building materials that single family homes are built from." - Andrew Keel

Interview with Apurva Shah from JAYS Properties

Andrew Keel — Wed, 23 Aug 2023 12:00:00 +0000

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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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: https://www.jaysinvestments.com/

Apurva's email: apurva.liberty.solutions@gmail.com

Keel Team's official website: https://www.keelteam.com/

Andrew Keel's official website: https://www.andrewkeel.com/

Andrew Keel's LinkedIn: https://www.linkedin.com/in/andrewkeel

Andrew Keel's Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Andrew Keel's Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

"Those wastewater treatment plants, those things are expensive." - Andrew Keel

"I think on our earliest deals, the biggest thing has been due diligence, doing the right due diligence upfront to make sure that you're not getting bit later on." - Apurva Shah

"What we tell our regional managers is, once a quarter, you need to go down there, talk with your tenants." - Apurva Shah

"When the market's down, real estate is continuing to outperform other asset classes or other investments." - Apurva Shah

Interview with Jason Janda from Rochester Property Group

Andrew Keel — Tue, 15 Aug 2023 12:00:00 +0000

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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 mobile home park portfolio

25:57 - One-off syndications (mobile home parks)

29:27 - The most important things passive investors need to look out for

30:42 - Jason's perfect mobile home park looks like this!

32:04 - What does the future in mobile home park investing look like?

33:58 - The biggest threat to mobile home park investing

34:30 - Getting ahold of Jason Janda

35:05 - Jason's final piece of advice for passive mobile home park investors

35:52 - Conclusion

Links & Mentions from This Episode:

Jason Janda's LinkedIn: https://www.linkedin.com/in/jasonjanda

MH Communities: https://www.mhcommunities.com/

Rochester Property Group: http://www.rochesterpg.com/

Keel Team's official website: https://www.keelteam.com/

Andrew Keel's official website: https://www.andrewkeel.com/

Andrew Keel's LinkedIn: https://www.linkedin.com/in/andrewkeel

Andrew Keel's Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Andrew Keel's Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

"From the passive side, [the hardest part about passive investing] is just getting comfortable with the actual operations." - Jason Janda

"We try to leverage technology and whatever platforms we can use as early as possible, just to streamline." - Jason Janda

"It's a balancing act, you also don't want to increase [the rent] enough that someone says, 'Oh, you know what? I'm taking my home out of here." - Jason Janda

"I'd rather, you know, continue to do what we know very well rather than to start learning something else" - Jason Janda

Interview with Julio Jaramillo from Evergreen Communities

Andrew Keel — Wed, 09 Aug 2023 09:30:00 +0000

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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 portfolio

35:26 - Julio's worst mobile home park deal

40:13 - Julio's perfect mobile home park looks like this!

43:24 - What does the future in mobile home park investing look like?

46:00 - Getting a hold of Julio Jaramillo

46:47 - Julio's final piece of advice

47:42 - Conclusion

Links & Mentions from This Episode:

Evergreen Communities: https://www.evergreencommunities.com/

Reach out to Julio Jaramillo via email: julio@evergreencommunities.com

Keel Team's official website: https://www.keelteam.com/

Andrew Keel's official website: https://www.andrewkeel.com/

Andrew Keel's LinkedIn: https://www.linkedin.com/in/andrewkeel

Andrew Keel's Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Andrew Keel's Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

"That's where I met a lot of my best investors, people that are going to work and put the time into their body and into their mind are going to be the kind of people you want to hang out with." - Julio Jaramillo

"People just have to find their passion, whether it's hiking or surfing or whatever. You know, just find something that gives you that balance." - Julio Jaramillo

"One of [the mistakes I made] is, you know, not buying in the right market." - Julio Jaramillo

"I like seeing the city and knowing what's going on around me. Areas you would never see if you weren't in this business, right?" - Julio Jaramillo

Interview with Jason Postill and Tyler Lekas from MHCI Group

Andrew Keel — Tue, 13 Jun 2023 12:00:00 +0000

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 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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 - Conclusion

Links & Mentions from This Episode:

MHCI Group: https://www.mhcigroup.com/

Jason's email: jason@mhcigroup.com

Tyler's email: tyler@mhcigroup.com

Keel Team's official website:https://www.keelteam.com/

Andrew Keel's official website:https://www.andrewkeel.com/

AndrewKeel 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:

02:30 - "I heard one of the big leaguers say, 'I didn't make my millions playing baseball. I made it by owning a thousand units in South Detroit." - Jason Postill

10:33 - "Finding partners is not the easiest thing." - Jason Postill

08:05 - "It takes a certain type of personality to deal with contractors on a daily basis." - Tyler Lekas

26:20 - "Look at the price, man. Because price is going to get you out of trouble." - Tyler Lekas

Interview with Bryce Robertson from Cultiv8 Collective

Andrew Keel — Tue, 09 May 2023 09:30:00 +0000

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 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 .

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Hansel Rodriguez from COARE Communities LLC

Andrew Keel — Thu, 06 Apr 2023 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Dylan Stewart from Northstar Investors

Andrew Keel — Tue, 14 Mar 2023 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Craig Schneider from RYZE Communities

Andrew Keel — Tue, 21 Feb 2023 10:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Gabe Petersen from Kaizen Properties

Andrew Keel — Wed, 01 Feb 2023 10:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Derek Vickers from Vicktory Real Estate Group

Andrew Keel — Tue, 10 Jan 2023 10:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with Craig Napoliello of 40 Oaks Properties

Andrew Keel — Tue, 13 Dec 2022 10:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

Interview with John Squartino of Keel Team Real Estate Investments

Andrew Keel — Wed, 23 Nov 2022 10:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 - John's perfect mobile home park

27:28 - The future of mobile home park investing according to John Squartino

29:11 - Getting a hold of John

00:00 - 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: https://www.instagram.com/passivemhpinvesting/
Twitter: @MHPinvestors

Quotes:

“I saw that you were selling mobile homes on your Facebook. I wasn’t sure if you were crazy or if you were crazy.” - John Squartino

“I think one of the biggest hurdles has got to be just the managing of the property, property management as a whole.” - John Squartino

“Infill has got to be one of the hardest things, mainly because of there being so much red tape. Just because you do something in one community doesn't mean that you can do it that way in the next.” - John Squartino

“You've got to be tenacious with it. The sense of urgency has got to be high.” - John Squartino

Interview with Miles Noland from Treeside Capital

Andrew Keel — Tue, 08 Nov 2022 22:00:00 +0000

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 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 finally started doing some cold-calling and that’s when I got some traction.” - Miles Noland

“I would say [of all the asset classes] mobile home parks are the most stable.” - Miles Noland

“That’s been one of the hardest things to do is build up a good team.” - Miles Noland

“That’s one of my favorite questions, is just ‘Hey, can I get some advice?’ cause people want to help.” - Miles Noland

Interview with Andy Freeman of Enjoy Communities

Andrew Keel — Tue, 25 Oct 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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: 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:

“With Enjoy Communities, the whole goal was to acquire stabilized parks with a good tenant base and a good history of paying tenants. Especially in this current market, the whole goal is not to take on too many large value-add projects.” - Andy

“Value-add just gets tossed around day in and day out. Bringing in homes is a challenge.” - Andy

“At the beginning, I didn't necessarily look at the end game, which is the refinance.” - Andy

“I don't know if I could have prepared for that or not, but just not knowing everything. You're going to make those mistakes and you learn by doing.” - Andy

Interview with Ryan Murdock of Open Door Capital

Andrew Keel — Tue, 11 Oct 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 parks and the economy the next couple years

19:33 - Mistakes Ryan has made in mobile home park investing

21:21 - The most important things that passive investors should look out for when investing in mobile home parks

23:15 - Raising rent

25:20 - Ryan's perfect mobile home park

27:00 - Underwriting

28:54 - Infill and paying for vacant lots

30:11 - Getting a hold of Ryan Murdock

00:00 - Conclusion

Links & Mentions from This Episode:

Open Door Capital: https://odcfund.com/

Ryan's email: ryan@odcfund.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 walk into a place that has been poorly managed over the period over the handful of years prior to our ownership and that's like the easiest low-hanging fruit.” - Ryan Murdock

“We're really spread out. We prefer the Southeast, Sun Belt stuff, but we have parks everywhere from Florida to Alaska and everywhere in between.” - Ryan Murdock

“Get out of your comfort zone and do those uncomfortable things, make those connections, continue to network, and big things can happen from it.” - Ryan Murdock

“You really got to put a lot of focus on the team and on the operators.” - Ryan Murdock

Interview with Andrew Keel of Keel Team Real Estate Investments

Andrew Keel — Tue, 20 Sep 2022 09:30:00 +0000

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

“I was astonished by the demand I had to buy these two mobile homes.” - Andrew

“I was hooked. I was like, ‘Wow, this is where it’s at. The demand is here.’” - Andrew

“Typically when we buy one, we put it on a five-year time horizon but with interest rates going up recently, we’ve just expedited that like crazy.” - Andrew

“Infill has got to be the toughest. It’s not super complex, but there’s just so many moving parts and you need to stay on it.” - Andrew

Interview with Elias Weiner from the BoaVida Group

Andrew Keel — Tue, 06 Sep 2022 09:30:00 +0000

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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/

Twitter: @MHPinvestors

Quotes:

“The more you can get involved in the beginning on [the better], like how the dealership side of the business works” - Elias Weiner

“The biggest risk is not doing anything, is just sitting there idle.” - Elias Weiner

“I'll typically figure out what I think the true market rent is, and then I'll make sure that I'm there or just past there in year five..” - Elias Weiner

“The beauty of real estate investing is, first of all, multifamily, whether it's apartments or mobile home parks, are one of the most predictable safest types of real estate investing.” - Elias Weiner

Interview with Edwin Byler of Blue State Capital

Andrew Keel — Tue, 23 Aug 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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/

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 learned a lot about real estate. After a certain period of time, it's just about taking action on that." - Edwin Byler

"One of my biggest mistakes was not checking the titles to homes." - Edwin Byler

"There's so much that goes into septics." - Edwin Byler

"There's so many variables in parks, whether it's tenant owned homes, park owned homes, city utilities, private utilities, roads..." - Edwin Byler

Interview with Alex Ramirez of Lucky Communities

Andrew Keel — Tue, 02 Aug 2022 09:30:00 +0000

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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:

Lucky Communities: https://www.luckycommunities.com/home

Alex’s email: alex@luckycommunities.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:

“It was a moment where we all came together and said, look, let's figure this out. How are we going to be able to survive?” - Alex Ramirez

“The strategy I think right now is being patient. Don't do a deal for the sake of doing a deal. You can lose a lot of money that way.” - Alex Ramirez

“I like the mobile home park space. I think there's a lot of potential there.” - Alex Ramirez

“The demand for affordable housing isn't going anywhere.” - Alex Ramirez

Interview with James Cook of Yale Advisors

Andrew Keel — Tue, 19 Jul 2022 12:00:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

01:55 - James' journey into mobile home communities and his first listing

04:20 - About Yale Advisors

07:12 - How are buyers able to pay the prices they're able to pay and where that is going into the foreseeable future

10:28 - MHP's in The Great Recession of 2008 - 2011

13:35 - The best opportunity or strategy right now for operators in the MHP space to create a good return on investment for people

15:39 - Aggregating an MHP portfolio

19:11 - The most important things that passive investors need to look out for when investing into mobile home parks

22:04 - James' perfect mobile home park

27:07 - Getting in touch with James

28:07 - Conclusion

Links & Mentions from This Episode:

Yale Advisors: https://yaleadvisors.com/

James' email: james@yaleadvisors.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 have to pretty much go in with the mindset that everything has a value and I'm willing to buy almost any situation, but it just has to be price-adjusted." - James Cook

"I've always said every deal has got some amount of hair. If it's not the property, it's probably the owner, or the financials, or the government." - James Cook

"You've got to pick a partner that has the team to execute that business model, and then you want to be investing in people with ethics." - James Cook

"I want to win this business. I want to be in the brokerage side for a long time. I'm not in a rush to compete with my clients." - James Cook

Interview with Ryan Hill and Brett Bowman of Suncrest Capital

Andrew Keel — Tue, 05 Jul 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 - Brett and Ryan's journey

04:00 - Ryan's first mobile home park

05:45 - How their other jobs help them manage mobile home parks

06:45 - Mistakes they have learned from

11:35 - Suncrest's strike zone for mobile home parks

14:00 - Brett and Ryan's thoughts on infill

16:00 - Their six-month order with Legacy Housing

17:50 - Getting educated on mobile home parks

21:00 - Some hard lessons about the industry

24:45 - Tools that Ryan and Brett use

26:26 - Advice for passive investors looking to invest in their first mobile home park deal

29:55 - Their perfect mobile home park

32:16 - Tenant-owned versus park-owned homes

32:52 - The future of the mobile home park industry

35:00 - Getting a hold of Brett and Ryan

00:00 - Conclusion

Links & Mentions from This Episode:

PEPs (Performance Equity Partners): http://peplending.com/

Legacy: https://legacypartners.com/

Suncrest: https://www.suncrestcap.com/

Brett: brett@suncrestcap.com

Ryan: ryan@suncrestcap.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:

"Just becoming adept at creating efficient systems and leveraging the talents of other people to achieve your goal. It's similar in education with teachers and staff in helping students learn the best they can." - Ryan, on how being an elementary school principal has helped him manage operations of mobile home parks

"In my mind, the most painful lessons are usually people-related in a sense that hiring the wrong person or having the right person maybe and doing the wrong job, for example.." - Brett

"We have a team of VA's. They comb Facebook marketplace and in radius around the markets that we're in, finding used homes." - Ryan

"One of the things that we've been implementing in the last few months, we read this book called 'Traction' by Gino Wickman. I highly recommend it if you haven't read it before. It's all about creating systems, really for startups." - Brett

Interview with John Hall of Newby Management

Andrew Keel — Tue, 21 Jun 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

01:38 - John's journey into the mobile home park management space

03:30 - Park-owned homes and tenant-owned homes

04:00 - John's team and the management systems at Newby Management

05:20 - Tools and software in MHP management

07:17 - RV park management

10:06 - Project management for CapEx tasks and infill for manufactured housing communities

11:27 - Toughest hurdle in mobile home park management

12:52 - Common age of residents in the communities (in Newby's portfolio)

14:45 - Things mobile home park owners overlook when calculating budgets and underwriting

15:43 - Mistakes to learn from (from Newby or other owners)

17:21 - Important things passive investors need to look out for when investing into mobile home parks

19:36 - Tips for selling mobile homes when they arrive on site

22:10 - Top KPI's John uses at Newby

23:15 - John's perfect mobile home park

24:15 - Hiring Newby

25:16 - The future of manufactured housing communities

26:59 - Getting a hold of John and Newby Management

27:17 - Conclusion

Links & Mentions from This Episode:

Newby Management: 941-721-0046

Newby Management: https://www.newbymanagement.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 think it's still quite a bit more seasonal in the RV spaces. You get a different tenancy over the summer than you do in the winter." - John Hall

"We operate under a philosophy that we serve three different customers. We serve the community owner, we serve the community residents, and then we serve our Newby team members." - John Hall

"Yeah, we have very few family communities in our portfolio. The majority are 55 plus." - John Hall

"I think the biggest thing that I've seen here recently is people that come from another sector of housing to invest and they don't fully understand this industry and try to treat it like traditional housing or apartments." - John Hall

Interview with Rudy Curtler of Sawgrass Capital Partners

Andrew Keel — Tue, 14 Jun 2022 09:30:00 +0000

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/.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 - Rudy's background and journey

05:30 - Rudy's first park

07:50 - Rudy's current MHP and real estate portfolio

10:00 - Tenant-owned homes versus park-owned homes in trailer parks

12:00 - Learning about mobile home parks

13:25 - Infrastructure in Rudy's current parks

14:30 - From salons to single-family homes

17:35 - Sawgrass Capital Partners

22:55 - How Rudy and his team handle manufactured housing community operations

24:15 - Mistakes to learn from

27:43 - Important things passive investors need to look for

30:25 - Rudy's perfect mobile home park

31:58 - The future of the mobile home park industry, 3D housing, and tiny homes

37:35 - Getting a hold of Rudy and Sawgrass Capital Partners

38:17 - Conclusion

Links & Mentions from This Episode:

Sawgrass Capital Partners: https://www.sawgrasscapitalpartners.com/

Rudy Curtler, LinkedIn: https://www.linkedin.com/in/rudycurtler/

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 of the challenges with [Best Buy] is they restructured quite often based on customer demand, changing economics, and whatnot of the consumer electronics industry." - Rudy Curtler

"Mistakes we've made have included anywhere from not having a great lease process at the beginning." - Rudy Curtler

"A question we never thought to ask was, what's underneath the dirt?" - Rudy Curtler

"We actually think it probably dovetails in perfectly and there's probably a tremendous opportunity for 3D printed homes and mobile home parks.." - Rudy Curtler

Interview with Andy Tallone from CCI Investments

Andrew Keel — Tue, 07 Jun 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

05:33 - The toughest hurdle for most MHP operators in the industry

09:23 - Perfect mobile home parks for CCI Investments

14:00 - Park-owned homes over tenant-owned homes

25:55 - Used homes versus new homes

30:48 - Mistakes Andy has learned from

32:16 - Pro forma

35:05 - Tips on finding good contractors

36:44 - Important things that passive investors need to watch out for

40:04 - Andy's perfect mobile home park

48:19 - Inflation and the future of the MHP industry

52:40 - Getting a hold of Andy

53:58 - One last tip for investors

56:03 - Conclusion

Links & Mentions from This Episode:

Mobile Home Parks for Sale: https://mobile-home-parks-forsale.com/

Andy Tallone, phone: (925) 323-2134

Andy Tallone, email: andrewtallone@gmail.com

"An Insider's Guide to Investing in Mobile Home Parks" by Andy Tallone: https://www.amazon.com/Insiders-Guide-Investing-Mobile-Parks/dp/B09PW4TWTW

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 think, we're the only people, I know of, who you can hire to turn your mobile home park around." - Andy Tallone

"You've got to have good systems in place to track the [manager's] activity and to verify, and you have to have the people to do it." - Andy Tallone

"Amenities just cost you money." - Andy Tallone

"Due diligence is critical, but the bottom line always goes back to management." - Andy Tallone

Interview with Christopher Nelson of Thrive Communities

Andrew Keel — Tue, 31 May 2022 09:30:00 +0000

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 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

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

01:30 - Christopher's story and journey into real estate and mobile home parks

04:08 - Christopher's background in technology

06:28 - Thrive Community Fund and Christopher's current portfolio

10:48 - Park-owned homes versus tenant-owned homes

12:47 - Christopher's first park and where they are now

13:30 - Christopher's process for growth

15:36 - The toughest hurdle in the MHP space

17:24 - Getting educated in the mobile home park industry

20:00 - What should passive investors look out for when investing in the MHP space

23:13 - Christopher's perfect mobile home park

24:30 - The future of mobile home parks

27:50 - The long term plan for the Thrive Community Fund

31:00 - Getting a hold of Christopher Nelson

31:46 - Conclusion

Links & Mentions from This Episode:

Thrive Communy Fund: https://www.thrivecommunity.fund/

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 love being somebody who is an executive over my portfolio, overseeing it and partnering with the operators and helping them be better, versus being the person who is actually in the park or in the facility doing the work myself." - Christopher Nelson

"At the end of the day we really do want to have long term relationships with our tenants. We want to help them thrive in our parks and in their lives in general." - Christopher Nelson

"Education, education, education. You have to see it and you have to understand the nuts and the bolts." - Christopher Nelson

"What I invest in and what I bring to my team is always different because I'll make investments where I'll try to vet operators and do other things." - Christopher Nelson

Interview with Lee Meekcoms of Parkbridge Capital Group

Andrew Keel — Tue, 24 May 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

01:40 - Lee's start into the manufactured housing business

05:20 - The future of interest rates

07:50 - Advice for recessions

13:00 - The MHP assets Lee wishes he kept

15:20 - The biggest hurdle in the MHP business

18:35 - The expenses on a case by case basis

21:12 - CapEx reserves

28:00 - Realistic timelines for raising rents in a mobile home park

33:16 - Secondary and tertiary markets and mobile home park investing

35:00 - The most important thing passive investors need to look out for when investing in mobile home parks

38:00 - Finding the demand for affordable housing

41:31 - Lee's perfect mobile home park

43:48 - Park-owned homes versus tenant-owned homes

45:40 - Getting ahold of Lee

46:06 - Conclusion

Links & Mentions from This Episode:

Lee's email: Lee@parkbridgecapital.com

ParkBridge Capital: https://parkbridgecapital.com/

Frank and Dave's MHU: https://www.mobilehomeuniversity.com/index.php

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:

"Hindsight is always 20/20 and as an investment group, we always have to make our investors happy." - Lee Meekcoms

"You see stuff come out, 'Only 18 percent expenses. Only twenty percent. But it's falling apart. Of course there's no expenses, nobody is managing it. You don't have anything going to maintenance! " - Lee Meekcoms

"I think you really have to take care of your tenants." - Lee Meekcoms

"[Passive investors] need to be well-informed." - Lee Meekcoms

Ground Up Mobile Home Park Development with Jim Glasgow of Palace Way Management LLC

Andrew Keel — Tue, 17 May 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

07:41 - Jim's process to developing the numbers for his ground up development budget

10:10 - The types of housing Jim prefers on his mobile home park lots

14:22 - Market study and analysis

16:25 - Jim's partners

17:20 - The contract process

18:47 - Important advice for limited partners or passive investors in mobile home parks

21:23 - Zoning restrictions

26:23 - Getting a good rate of return

30:00 - The origin of Jim's startup money

32:30 - How long will the backlogs last

35:08 - Reaching out to Jim Glasgow

35:52 - Conclusion

Links & Mentions from This Episode:

Jim's email: edwardjim59@yahoo.com

Palace Way Management: https://palaceway.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:

"[Larger deals and ground up developing mobile home parks] really need to be a hundred units or higher to make the numbers work, and 250-500 is the sweet spot for development and because of the cost of development." - Jim Glasgow

"The cost of the home, single wides are going to vary from installed with skirting tied down, with a storage room in the backyard, front porch, back porch, two car parking space and we're looking at about $60,000-$80,000 on a single and we're looking to from $70,000-$110,000 on a double." - Jim Glasgow

"It's rapidly becoming the in-thing to do and it's going to be happening all over the United States. Over the next five years, you're going to see a lot of new mobile home park developments." - Jim Glasgow

"When you're buying into a development, you're buying the wholesale. You're not paying retail." - Jim Glasgow

Interview with Mike Conlon of Affordable Communities Group

Andrew Keel — Tue, 10 May 2022 09:30:00 +0000

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

01:32 - Mike's story and his journey into Mobile Home Park investing

05:58 - The toughest hurdle for most operators in Mobile Home Park ownership

08:36 - Big differentials between apartments and Mobile Home Parks

09:45 - How Mike educated himself on Mobile Home Parks and good advice

16:20 - The most difficult value-add in Mobile Home Parks

18:42 - Mike's team at Affordable Communities Group, LLC

20:54 - How to find and keep good on site managers

22:54 - The toughest hurdle for operators in Mobile Home Parks right now

25:40 - The future of Mobile Home Park investing and how they fit in with the direction of the economy

33:00 - Recent negative press with big groups in mobile home parks

37:52 - The investment fund model vs. syndications

40:23 - Mike's perfect Mobile Home Park and why

43:19 - Mike's opinion about third party property management

44:37 - Connecting with Mike Conlon

45:15 - One last tip

46:06 - Conclusion

Links & Mentions from This Episode:

Mike's email: mconlon1@gmail.com

Affortable Communties Group website: https://acgmhc.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 got some guidelines now, but I think the toughest thing is just not to have paralysis by analysis where you're just too afraid to jump in." - Mike Conlon

"You just got to go do it now." - Mike Conlon

"I think right now, if you're younger and newer in the business, you're going to make your money from the value add deals because everything is expensive." - Mike Conlon

"Get good people, treat them well and overpay them what they can get anywhere else." - Mike Conlon

Interview with Victor Alves of Vecno Capital

Andrew Keel — Tue, 26 Apr 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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

04:20 - Victor’s portfolio

05:25 - The toughest hurdle

06:26 - Execution and filling in vacant lots

07:15 - Victor’s process of finding used mobile homes

08:41 - Vecno Capital operations/ property management

10:10 - Finding MHP deals

11:00 - Comparing single family rentals to mobile home parks

12:52 - The most important things passive investors need to look out for

14:20 - Utilities: public versus private

15:37 - Victor’s perfect mobile home park

16:54 - Mistakes to learn from

21:39 - The future of the mobile home park industry (in the next five to ten years)

23:00 - What makes Vecno Capital different

24:21 - Conclusion

Links & Mentions from This Episode:

Vecno Capital: https://vecnocapital.com/

Victor Alves, LinkedIn: https://www.linkedin.com/in/victoracalves/

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 do multifamily as well because I love that asset class, but my focus and heart is in mobile home parks.” - Victor Alves

“Like with most people, the toughest part is infill.” - Victor Alves

“Depending on the age, you’ll see a lot of maintenance. ‘Cause when you’re a new owner, you want everything fixed.” - Victor Alves

“You have to learn how to be flexible but at the same time, don’t let it slide too much so it doesn’t become a habit.” - Victor Alves

“Understand the asset. Understand the location. What’s the driver? What’s driving the economy in those cities?” - Victor Alves, on what passive investors need to know

Interview with Steven Blank of Blank Family Communities

Andrew Keel — Tue, 12 Apr 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

01:21 - Steven’s story

03:43 - The toughest hurdle

05:24 - Managing the infill process

07:25 - Finding Grade-A quality, insured vendors

08:20 - Sourcing new homes

10:41 - Third-party property management for mobile home parks

12:30 - Community size

13:38 - Things that give third parties a bad rep

18:59 - The most important things passive investors need to look out for

22:04 - “[MHP] isn’t recession proof.”

24:22 - Some of the bigger mistakes Steven has seen

26:02 - The future of the MHP business

29:15 - Blank Family Communities

30:35 - One last tip

31:31 - Conclusion

Links & Mentions from This Episode:

Blank Family Communities: https://blankfamilycommunities.com/

Steven Blank, LinkedIn: https://www.linkedin.com/in/steven-blank-66b4a674/

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 issue that I came into contact with that I think a lot of people do, especially as they're growing their portfolio is, you see a deal that makes sense on its own, so therefore, you want to pursue it.” - Steven Blank

“Ordering the right house for your market is key because if I over-order a house that the market's not going to support, it's not going to be a profitable venture for me.” - Steven Blank

“We're sourcing more used homes than we used to. Finding just a transport company is extremely difficult because they can still get work wherever they want.” - Steven Blank

“Understand that the business model that you're investing in and then understanding that some of the things that MH is being hailed as are really not true.” - Steven Blank

“When an economy suffers, our tenants suffer first.” - Steven Blank

Interview with Chad Freeman of MHPinvestors

Andrew Keel — Tue, 29 Mar 2022 09:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 - The toughest hurdle in the mobile home park business for Chad

12:17 - Managing mobile home parks

13:00 - What to look out for when investing in mobile home parks (most important)

14:56 - Chad’s perfect mobile home park

16:50 - Submetering and infill value add

17:54 - Financing new manufactured homes

18:35 - Mistakes that Chad has learned from

21:17 - The cost to infill a used home versus a new mobile home

Links & Mentions from This Episode:

MPH Investors: https://mhpinvestors.com/

Chad Freeman, LinkedIn: https://www.linkedin.com/in/chad-freeman-90967411a/

Google Voice number: 702-706-6904

Chad Freeman, email: i nfo@mhpinvestors.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 had no clue what I was doing. I didn't even know what due diligence meant. I bought this place in Elizabeth Seaport, which you don't want to buy a place there, I'll just say that.” - Chad Freeman

“When you purchase the correct property, I think it's hands down the best investment you can make anywhere in real estate today.” - Chad Freeman

“We had people telling us on the phone, do you guys have any idea how hard it is to break into this business when you don't want any properties? I just took it as a challenge and made it happen.” - Chad Freeman

“Do some research on who you're dealing with.” - Chad Freeman

Interview with Dan Gibson of 43 Properties

Andrew Keel — Tue, 15 Mar 2022 09:30:00 +0000

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 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 .

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

01:26 - How Dan Gibson got into mobile home parks

04:30 - Dan’s portfolio

07:22 - The toughest hurdle for Dan in the mobile home park business

09:17 - Exiting MHP's with park-owned mobile homes

12:30 - The most important things passive investors need to look out for when investing into mobile home parks

14:13 - Public and private utilities

16:45 - Dan’s perfect mobile home park

22:06 - Mistakes that Dan has made

28:48 - Where is the mobile home park industry headed

32:00 - Inflation and the economy

35:03 - What makes 43 Properties different from everyone else

38:20 - Getting a hold of Dan

39:31 - Conclusion

Links & Mentions from This Episode:

Dan’s email: dan@43holdings.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 tried to lease-to-own as many park-owned homes as we could.” - Dan Gibson

“In terms of other items that come to mind when I think of that, for a passive investor it would be management. No matter what kind of asset class, it’s always going to be number one to focus on.” - Dan Gibson

“I think you'll also be surprised, too, at how many really good people live there. They just live on a budget and that’s what they can afford.” - Dan Gibson

“That’s the magic. It’s easy to talk numbers and get excited about, you made this or made that, but you are changing people’s lives when you come in and improve the community.” - Dan Gibson

“Now that I’ve gone through the back end on an exit, I thought we had good documentation. We were maybe 50% or 60% of where we needed to be. And I thought we really were on top of that kind of stuff. So don’t be lax on that.” - Dan Gibson

Interview with Nick Najjar of Elephant Capital Partners

Andrew Keel — Tue, 01 Mar 2022 10:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 - Nick’s background

03:56 - Nick’s first mobile home park and resources for new investors

06:49 - The toughest hurdle in mobile home park ownership

07:55 - Managing mobile home parks

09:45 - How Nick finds his deals

12:00 - Where the MHP business and industry will be in the future

16:05 - What LP's need to look out for when they’re investing into MHP's with different operators or investment funds

19:50 - Nick’s perfect mobile home park

20:20 - Mistakes we can learn from

23:50 - Legacy

25:58 - Nick’s value add projects

30:29 - What makes Elephant Capital Partners different from everyone else

31:17 - Getting a hold of Nick

31:37 - Nick’s last piece of advice

32:29 - Conclusion

Links & Mentions from This Episode:

Elephant Capital Partners: https://elephantcp.com/

Building an Elite Organization, by Don Wenner: https://www.amazon.com/Building-Elite-Organization-High-Growth-High-Profit/dp/1544517491

Clockwork: Design Your Business to Run Itself, by Mike Michalowicz: https://www.amazon.com/Clockwork-Design-Your-Business-Itself-ebook/dp/B078GDX7BP

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/PassiveMHPin...

Andrew Keel Instagram page: https://www.instagram.com/passivemhpi...

Twitter: @MHPinvestors

Quotes:

“That's one of the things I love about listening to podcasts, learning to try and mitigate, and learning from other people's mistakes.” - Nick Najjar

“We moved into some homes trying to sell them, but it's really a renters market.” - Nick Najjar

“We just have some really great systems that we've been working on and pay attention to all the levers on a very consistent basis.” - Nick Najjar

“Just do your due diligence. Don't rely on a pro forma or anything that the investor tells you.” - Nick Najjar

Interview with Justin Donald the Lifestyle Investor

Andrew Keel — Tue, 15 Feb 2022 10:30:00 +0000

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 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 .

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

02:16 - How Justin started investing

05:45 - Justin’s first few mobile home parks

15:30 - Mistakes we can learn from

17:57 - The most important things that LPs need to look out for when investing in MHPs

21:36 - Justin’s perfect mobile home park

23:55 - How Justin implements his philosophy into investing

29:15 - The future of the mobile home park industry

31:40 - Getting a hold of Justin

33:32 - How Justin stays up to date on investment strategies

35:22 - Conclusion

Links & Mentions from This Episode:

Justin Donald Website: https://justindonald.com/

A free copy of the book: lifestyleinvestorbook.com

Love Justice International: https://www.lovejustice.ngo/

“The Lifestyle Investor: The 10 Commandments of Cash Flow Investing for Passive Income and Financial Freedom” by Justin Donald (proceeds go to Love Justice International): https://www.amazon.com/Lifestyle-Investor-Commandments-InvestingFinancial/dp/1636800122

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/PassiveMHPin...

Andrew Keel Instagram page: https://www.instagram.com/passivemhpi...

Twitter: @MHPinvestors

Quotes:

“I remember having some sleepless nights. Like, ‘What am I thinking? This is– You’re just going to put $65,000 into a mobile home park? I mean, come on!’” - Justin Donald, on his internal battles during his first MHP

“My first mobile home park wasn’t very pleasing to the eye but I just knew it was the right thing.” - Justin Donald

“I just followed a playlist that worked and it worked.” - Justin Donald

“I love mobile home parks. I still think that it’s the best investment in real estate.” - Justin Donald

Interview with the MHP Expert: Glenn Esterson

Andrew Keel — Tue, 01 Feb 2022 10:30:00 +0000

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 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 - Glenn’s story and journey into manufactured housing

10:00 - Putting your improvements up front

12:15 - The toughest hurdle for most operators in the mobile home park business

15:14 - What operators overlook and not account for in their pro formas

17:30 - Things that get overlooked in underwriting

19:41 - Common expense ratios

22:00 - Important things passive investors need to look out for when investing in mobile home parks

26:00 - Glenn’s perfect mobile home park

28:17 - The future of mobile home parks

33:40 - The current state of the mobile home park industry

39:34 - Getting a hold of Glenn

40:23 - Glenn’s top tip

41:30 - Conclusion

Links & Mentions from This Episode:

The Mobile Home Park Manifesto: Ethical and profitable investing in non-institutional grade land lease communities, by Glenn Esterson

The MHP Expert Website: https://www.themhpexpert.com/

Glenn’s cell number: 423-483-0492

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/PassiveMHPin...

Andrew Keel Instagram page: https://www.instagram.com/passivemhpi...

Twitter: @MHPinvestors

Quotes:

“Put your improvements in upfront. Raise your money upfront for the roads, for the landscape, for the septics that need to get repaired.” - Glenn Esterson

“There's a way for everybody to accomplish their financial goals without it just being stuffing it down the poor guy's throat.” - Glenn Esterson

“If I was an MH investor, I would be very, very cautious about who I'm giving my money to. There are a lot of new groups coming in promising some big stuff and they haven't been through a down cycle yet.” - Glenn Esterson

“Robotics and AI are going to change the future for us. For better or worse, you're going to have to learn how to accommodate that.” - Glenn Esterson

“Buyers, when they price things, they're always looking backward or they're trying to convince the seller and the broker that, hey, nothing in this area sold for that number, and your rents are blah, blah, blah. But as a broker, we're always looking forward.” - Glenn Esterson

Interview with Denis Shapiro of SIH Capital Group

Andrew Keel — Tue, 18 Jan 2022 10:30:00 +0000

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 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 .

Book a 1 on 1 consultation with Andrew Keel to discuss:

A deal review
Due diligence questions
How to raise capital from investors
Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

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 many different syndicators

08:10 - Buying a JV deal with someone he heard on a podcast

09:50 - Out-of-state trailer park operators

13:15 - Is a mobile home park fund a good option for passive investors?

14:45 - The process of starting your own accredited investor group

20:32 – General Partner and Limited Partner splits

22:24 - Inflation and the state of the economy in the United States

24:17 - Interest rates in the next five years

25:38 - The most important things Limited Partners need to look out for when investing in mobile home parks

27:56 - Questions to ask operators to qualify if they're going to be a good operator

29:00 - Denis’ perfect mobile home park

29:15 - SIH Capital Group

29:56 - Getting a hold of Denis

31:11 - Conclusion

Links & Mentions from This Episode:

SIH Capital Group: https://sihcapitalgroup.com/

The Alternative Investment Almanac: Expert Insights on Building Personal Wealth in NonTraditional Ways, by Denis Shapiro

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/PassiveMHPin...

Andrew Keel Instagram page: https://www.instagram.com/passivemhpi...

Twitter: @MHPinvestors

Quotes:

“They had nothing but great things to say. I think at the end of the day, the most important thing is that reputation.” - Denis Shapiro

“If you're not willing to network when you're investing in private securities, you probably are gambling more than you should be.” - Denis Shapiro

“Learning that language is super, supercritical. Once you actually get to the conferences, network with a few people. And then this is the key. After the event, don't just say, hey, let's stay in touch. Say, hey, we're in December, how's January 5th?” - Denis Shapiro

“I find that operators respond to you the quickest before you send the money in. I remember so many operators I've removed from my list because I would look at their debt.” - Denis Shapiro