Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. Some of the nation's largest lenders are actively lending money in the Mobile Home Park space. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about reason #10 for investing in trailer parks: mobile home park’s have attractive financing options whether for an acquisition or a refinance. Typically, in current times, when financing a mobile home park acquisition the loan-to-value one can expect is between 70-80%, meaning that the purchaser is required to bring a down payment of only around 20% to 30%.

Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,300 lots under management. His team currently manages over 20 manufactured housing communities across nine states – AR, 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.

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Talking Points:

00:20 - Welcome back to the Passive Mobile Home Park Investing Podcast

02:36 - Non-recourse debt

04:20 - The Debt Service Coverage Ratio

05:12 - In conclusion

05:25 - The pre-investment checklist

 

Resources/Links:

Keel Team, official website

Andrew Keel, official website

Andrew Keel, LinkedIn

Facebook page

Instagram page

Twitter: @MHPinvestors

YouTube channel

 

Quotes:

“Having a higher property class grade will ultimately open better financing doors.” -  Andrew Keel on mobile home park acquisition and refinancing financing options

“Having this many financing options available is a positive note to investing in mobile home parks.” -  Andrew Keel on trailer park debt options