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

Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 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.

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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:

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