#34: The extraordinary market volatility the last couple months has been enough to wrench the stomachs of even the most battle-hardened investors.

Right now, the markets are on a tear and have recovered most of their losses since the coronavirus sent us running for cover.

But the kind of top to bottom -35% freefall we saw in one single month earlier this year is exactly the kind of whiplash that destroys an early retiree’s confidence when it comes to retirement withdrawals.

That’s why it is so crucial for at least part of your portfolio to be stable cash-flowing assets. Stable cash flows that don’t go poof when the market tanks will help tide you over to the recovery, whether recovery takes 3 months or 3 years.

We’ve been talking a lot about real estate the last few episodes. One richly cash-flowing real estate asset class we haven’t talked about yet is mobile home park investing.

In this week’s podcast, I chat with mobile home park investor Andrew Keel about this unique real estate investing strategy.

Andrew owns and operates more than 1,000 mobile home lots across 17 parks in 7 states. He shares insight on how wealth is built with mobile home parks by owning the land and not the homes that sit on it.

We discuss:

• Structure of the mobile home park industry
• How mobile home park investing differs from traditional real estate investing + what makes it especially attractive vs. other niches
• Why supply and demand for parks increasingly favors investors
• How to find mobile home park deals
• How mortgage financing works for mobile home parks (what kind of banks lend to park investors, typical loan terms)
• How Andrew found, acquired, and turned around his first mobile home park deal
• What are the markers of an attractive mobile home park deal
• Typical value-add improvements to increase park value
• Why a park’s utilities can make or break the deal

Have you or anyone you know invested in mobile home parks before? If you’re intrigued but hesitant, what concerns do you have? Let me know by leaving a comment when you’re done.

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Links mentioned in this episode:

• Keel Team
• Bestplaces.net – demographic data and stats about cities and zipcodes
• HYW private Facebook community

Intro/Outro: Old Bossa by Twin Musicom.