Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Dan Gibson from 43 Properties. Dan answers Andrew's questions with a unique perspective, as he is someone who stumbled accidently into mobile home park investing. Dan is based out of St. Louis, MO and he along with his brother and father have learned a great deal from owning mobile home parks. Dan emphasizes the importance of keeping good documentation so it's easier when you sell, he also recommends sticking to the basics. In this episode Dan shares his tips for passive investors who want to invest passively as limited partners into the mobile home park asset class via syndications. Dan is passionate about helping people and doing a great job and it shows through his enthusiasm and expertise.

Dan has been investing in real estate for over 12 years now and is the CEO of his commercial real estate investment company based in St. Louis, MO. His company 43 Properties specializes in mobile home parks and self storage investments. He started the business with his Dad and brother and grew their company's portfolio to over $50 Million in assets under management.

***Andrew Keel 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:

Links & Mentions from This Episode: 

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