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 passive investor David Shirkey about his experience in the mobile home park industry. David is a passive mobile home park investor and has first hand knowledge for anyone who is thinking about investing in trailer parks. Today Andrew asks David about his preferences when it comes to the following: syndications and investment funds, operator due diligence and preferred methods of communication with operators. In addition, he talks about the filters he uses when he coordinates with operators on deals that he likes to invest in and discusses mistakes he's made in the passive MHP investing arena. David also talks about a few additional passive investments he has made in alternate investments outside of the mobile home park asset class.Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 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 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:00:20 - Welcome to the Passive Mobile Home Park Investing Podcast01:53 - How David got started03:27 - David's preference in funding06:17 - David's due diligence process08:03 - What David looks for when looking at a deal11:00 - David's "worst" mobile home park deals14:14 - His preferred method of communication16:24 - Mistakes that David learned from20:54 - Depreciation benefits of investing in mobile home parks24:35 - Alternate investments29:43 - Tips for new investors: choice of investments31:19 - Important things passive investors should know about the mobile home park asset class33:16 - How to find operators to invest through36:10 - Getting a hold of36:45 - ConclusionLinks & Mentions from This Episode:

David Shirkey, LinkedIn: https://www.linkedin.com/in/davidshirkey/David's email address: [email protected] Team's official website: https://www.keelteam.com/Andrew Keel's official