Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Frank Rolfe. Frank has been an investor in mobile home parks for nearly two decades. He has owned and operated hundreds of mobile home communities and is currently ranked as the 5th largest mobile home park owner in the United States with over 250 communities spread out over 25 states. Frank is also a top educator in the mobile home park space through his involvement with Mobile Home University, also known as MHU.Today, Andrew and Frank talk about everything from current events (COVID-19) and how it has affected the mobile home park business, to lessons that Frank has learned in his experiences in the trailer park business. Frank shares some of the knowledge he has gleaned from his background in business and economics, as well as his insights on what the future holds for the mobile home park industry. Questions include: What happens if interest rates go up? How will a $15 per hour minimum wage affect mobile home park investors? How does inflation affect mobile home park owners? What happens to mobile home parks if the US dollar loses it's place as the world's reserve currency? What has been the toughest point in time for the mobile home park business?

 

***Andrew Keel 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 1,500 lots under management. His team currently manages over 20 manufactured housing communities across ten states - AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show!

 

Talking Points:00:21 - Welcome to the Passive Mobile Home Park Investing Podcast01:35 - Frank's background and how he got into manufactured housing03:30 - Glenhaven in Dalla, Texas05:38 - Important things passive investors need to know about investing in mobile home parks06:50 - Value Add versus Stabilized Play10:33 - Secondary markets and tertiary markets during downturns13:45 - COVID and portfolio16:55 - Current state in the market cycle20:30 - Difference in the market from the 90's23:00 - Most difficult time in the business within the last 20 years26:40 - More about 200628:55 - Mobile homes during inflation34:05 - Current events, the US dollar and the world's reserve currency