Today I had the pleasure of speaking with the Director of Multifamily Education & Executive Partner at Active Duty Passive Income, Tim Kelly. Tim is an active duty Chief Petty Officer in the United States Navy and has been serving his country for 14 years. He is also a Real Estate Investor & Educator, Best-Selling Author, and a great speaker.

Let’s jump right into Tim’s story on how he pursued his dream of owning and operating multi-family real estate and helping others realize their financial freedom goals!

[00:01 - 04:59] Mobile Home Association and Notes

• Tim talks about Mobile Home Association and types
• • Benefits from joining the associations
• Tim explains about Mobile Home Notes, Title, and Deeds
• Tim shares some ways to find deals
• • How to look for deals on public leasing sites
  • Connecting with brokers

[05:00 - 16:14] The Keys to connect with the broker and get better deals

• Tim shares the keys to get better deals from brokers
• • How to get off-market listing deals
  • Build relationships with your brokers
  • Know exactly what you are looking for
• Tim talks about the importance of the relational aspect to get the deal
• • Relatability factor
  • Be genuine
  • Follow up directly
• Create the opportunity to the potential deals

[16:15 - 20:59] Understanding the Mobile Home parks Tenants

• Tim shares about how to build a good culture with the Mobile Home tenant
• • Be empathetic but firm
• The preventive actions to avoid riff-raff
• • He explains tenant screening policy
  • Building a relationship with the city halls and law enforcement
• Tim talks about the management of Mobile Home communities
• • Management agencies
  • Self-Management

[21:00 - 26:52] Challenges for Mobile Home parks owners

• Tim shares about the challenges of Mobile Home parks owners
• Tim talks about the various ways to add value to Mobile Home parks
• Tim talks about the development challenges of new Mobile Home parks

Tweetable Quotes:

“There are a lot of opportunities, not only to learn and grow but also the network to be part of the Mobile Home Association .” - Tim Kelly

“You have to figure out, what can you do to help you be remembered and what could you do that others are not willing to do” - Tim Kelly

“This is a relationship business, building relationships with everybody that you come into contact with in this industry is just going to put you at a huge advantage.” - Tim Kelly

Resources Mentioned:

• Mobile Home Park Store

• Loop Net

You can connect with Tim Kelly on LinkedIn and Facebook. Learn more about his life story and real estate journey by visiting his website at https://thetimothykelly.com/

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