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:

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

Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. Check out KeelTeam.com to learn more.

Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews:  https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy, Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew’s story at AndrewKeel.com.

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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

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Links & Mentions from This Episode:

Jake bond’s email: [email protected]

Paras Shah’s email: [email protected]

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