By Andrew Keel
4.9
231231 ratings
The podcast currently has 150 episodes available.
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 mobile home park investor, Nick Najjar of ACS Communities and Elephant Capital Partners.
Nick Najjar, a previous guest on the show back in 2022, is the principal owner of ACS Communities and Elephant Capital Partners. He oversees six manufactured housing communities with a total of 295 sites. ACS Communities also holds minority partnerships in various mobile home parks across the United States and has completed over 25 mobile home park deals.
Nick Najjar leads all aspects of ACS Communities and Elephant Capital Partners, from mobile home park acquisitions and business development to the operations and property management of their manufactured housing communities.
In this episode, Andrew Keel and Nick Najjar explore the high demand for affordable housing, the in’s and out’s of wholesaling and assigning mobile home parks, and the differences in the assignment of mobile home park deals compared to other asset classes. They also discuss the use of third-party mobile home park property management. Nick Najjar shares his insights on closing mobile home park deals, emphasizing the importance of transparency, fostering rapport, and supporting the mobile home park investor community.
Join us as Nick Najjar shares his knowledge, enthusiasm, and passion for the mobile home park investing asset class on this episode.
***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.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show.
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
01:32 - Perspectives on wholesaling in the Mobile Home Park Industry
08:00 - Assignment of mobile home park deals versus other asset classes
14:48 - How Nick Najjar closes a mobile home park deal
19:30 - Business Management - Focusing on and delegating specific tasks
22:00 - The Mobile Home Park Industry is a volume game so you have to get creative.
24:44 - Using third-party mobile home park property management
28:30 - It’s all about trusting the system and the job
32:47 - Understanding quick value-add in mobile home park investing
37:21 - Park-owned homes
40:08 - The affordable housing demand will always be high
42:47 - Reaching out to Nick Najjar
43:12 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
The previous 2022 episode with Nick Najjar: https://keelteam.com/post/interview-with-nick-najjar-of-elephant-capital-partners/
Elephant Capital Partners Website: https://elephantcp.com/
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:
“You’ve got to have a lot of rapport. You have to build a lot of trust. So I think displaying your track record of previous deals is important.” - Andrew Keel
“Every property has some issues.” - Nick Najjar
“I think the key is finding out what the seller really wants and then getting creative to make that happen.” - Nick Najjar
“One of the things I love about this business is there's always a new challenge, always something I'm learning something new literally almost every day- like yesterday.” - Nick Najjar
“The deals are out there. So it's all about volume. Like you got to look at a lot of deals.” - Nick Najjar
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 mobile home park investor and operator John Evans of Six Rock Properties.
John Evans began his career in the Oil and Gas industry in 2002 and ventured into mobile home park investments back in 2015. He now manages a portfolio of over 600 lots. He currently serves as the Chief Project Officer at Six Rock Properties, a family-owned business founded in 2014. Headquartered in Charlotte, North Carolina, Six Rock Properties owns and operates several manufactured housing communities.
In this episode of the Passive Mobile Home Park Investing Podcast, host Andrew Keel and John Evans discuss the importance of educating oneself on the mobile home park asset class, taking decisive action when investing into off-market trailer park investment opportunities, and the crucial role that utility bill back management plays in the success of value-add mobile home park investments. They also explore the top threats to the manufactured housing community industry, particularly that of redevelopment, and the future of state initiated regulatory changes for the mobile home park asset class.
Join us as John Evans shares his journey from starting in the Oil and Gas industry to becoming a mobile home park investor, the strategies he used to grow his mobile home park portfolio, his “super power" and the insights he gained along the way.
***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.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show.
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
01:21 - John Evans’ career evolution from the oil and gas industry to Mobile Home Park Investing
04:30 - The importance of getting educated in mobile home park investing
09:00 - Get out of your own head
10:00 - John Evans’ strength: relating to the blue-collar community of trailer park owners
14:20 - Avoiding the trap of being overconfident when investing in mobile home parks
15:20 - Utility bill back management can make or break your mobile home park investment
18:45 - Referrals, education, and downtime are so important
21:15 - Effective utility bill back management can potentially make a perfect mobile home park investment for John Evans
22:30 - Analysis paralysis and bring in the right place at the right time
23:33 - The future of mobile home park investing
26:26 - The Mobile Home Park asset class faces numerous threats, including the risk of redevelopment and government regulation
30:36 - Reaching out to John Evans
31:10 - Educate, educate, educate (in the Mobile Home Park Investing Industry)
31:51 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
John Evans’ email: [email protected]
John Evans’ phone: 985-318-4498
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:
“It was all learn as you go.” - John Evans
“[The toughest part of mobile home park investing] is just getting out of your head if you’re afraid of failure. Sometimes you don’t want to, you’ve never done something like this before and you’re afraid to fail so just kinda go for it.” - John Evans
“You can never build too much rapport.” - Andrew Keel
“Don’t get too confident once you get traction.” - John Evans on mobile home park investing
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 mobile home park investor and operator John Evans of Six Rock Properties.
John Evans began his career in the Oil and Gas industry in 2002 and ventured into mobile home park investments back in 2015. He now manages a portfolio of over 600 lots. He currently serves as the Chief Project Officer at Six Rock Properties, a family-owned business founded in 2014. Headquartered in Charlotte, North Carolina, Six Rock Properties owns and operates several manufactured housing communities.
In this episode of the Passive Mobile Home Park Investing Podcast, host Andrew Keel and John Evans discuss the importance of educating oneself on the mobile home park asset class, taking decisive action when investing into off-market trailer park investment opportunities, and the crucial role that utility bill back management plays in the success of value-add mobile home park investments. They also explore the top threats to the manufactured housing community industry, particularly that of redevelopment, and the future of state initiated regulatory changes for the mobile home park asset class.
Join us as John Evans shares his journey from starting in the Oil and Gas industry to becoming a mobile home park investor, the strategies he used to grow his mobile home park portfolio, his “super power" and the insights he gained along the way.
***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.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show.
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
01:21 - John Evans’ career evolution from the oil and gas industry to Mobile Home Park Investing
04:30 - The importance of getting educated in mobile home park investing
09:00 - Get out of your own head
10:00 - John Evans’ strength: relating to the blue-collar community of trailer park owners
14:20 - Avoiding the trap of being overconfident when investing in mobile home parks
15:20 - Utility bill back management can make or break your mobile home park investment
18:45 - Referrals, education, and downtime are so important
21:15 - Effective utility bill back management can potentially make a perfect mobile home park investment for John Evans
22:30 - Analysis paralysis and bring in the right place at the right time
23:33 - The future of mobile home park investing
26:26 - The Mobile Home Park asset class faces numerous threats, including the risk of redevelopment and government regulation
30:36 - Reaching out to John Evans
31:10 - Educate, educate, educate (in the Mobile Home Park Investing Industry)
31:51 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
John Evans’ email: [email protected]
John Evans’ phone: 985-318-4498
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:
“It was all learn as you go.” - John Evans
“[The toughest part of mobile home park investing] is just getting out of your head if you’re afraid of failure. Sometimes you don’t want to, you’ve never done something like this before and you’re afraid to fail so just kinda go for it.” - John Evans
“You can never build too much rapport.” - Andrew Keel
“Don’t get too confident once you get traction.” - John Evans on mobile home park investing
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 Brian Spear of Sunrise Capital Investors.
Brian Spear, Co-Founder of Sunrise Capital Investors, manages several mobile home park focused investment funds with his partner and fellow podcaster, Kevin Bupp. At Sunrise Capital, Brian is responsible for investor relations, marketing, and regulatory compliance. He earned a Bachelors of Business Administration in Marketing from the University of Kentucky, where he attended on a baseball scholarship and served as team captain.
In this episode of the Passive Mobile Home Park Investing Podcast, Andrew Keel and Brian Spear explore the resilience of past mobile home park investments, trailer park investment regulatory considerations, and strategies for navigating new manufactured housing community acquisitions with higher interest rates. They also dive into the operational challenges of managing mobile home parks and the pitfalls of entering the mobile home park asset class with uninformed optimism. Brian Spear provides insights into his current trailer park portfolio, the growth of his team and the importance of clarity in business relationships.
Tune in as Brian Spear shares valuable insights from his extensive experience in the mobile home park investing asset class, highlighting the potential pathway to investing in mobile home parks in order to achieve financial freedom.
***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.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show.
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
01:23 - The power of taking the initiative
06:25 - Brian Spear’s current mobile home park portfolio
08:00 - The growth of Brian Spear’s team at Sunrise Capital Investors (Mobile home park property management and investing team)
10:13 - The hurdles experienced in the mobile home park operations and property management
13:10 - Pivoting around higher interest rates when investing in mobile home parks
16:20 - Investing in mobile home parks to achieve financial freedom
21:33 - Clarity on both sides of the table helps tremendously
24:30 - Going into the mobile home park business with uninformed optimism
27:16 - Increasing a mobile home park’s value after acquisition
30:00 - Why mobile home parks will likely continue to outperform every other asset class
32:14 - Government regulation and what we can’t control
34:14 - Reaching out to Brian Spear
34:31 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Connect with Sunrise Capital Investors: https://sunrisecapitalinvestors.com/
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:
“When you don’t have the resources, you have to be resourceful.” - Brian Spear
“Nobody’s going to care [about your business] as much as yourself.” - Brian Spear
“If you want to do it right, you’ve gotta find a way to have systems and processes.” - Brian Spear
“We don’t buy markets, we buy deals.” - Brian Spear
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 Glenn Yaney of Vertical Equity Partners.
Glenn Yaney began his real estate investing career back in 2012 as a property manager in Tampa Bay, later advancing into the role of leasing manager for the state of Florida at American Homes 4 Rent. In 2020, he partnered with Garrett Smith to become a General Partner at Vertical Equity Partners. Together, they manage a diverse portfolio of over 400 rental units, ranging from mobile home parks to apartment complexes, all handled and managed in-house by their dedicated property management team.
In today's episode, Andrew Keel and Glenn Yaney explore the differences between tenant-owned and park-owned mobile homes, they also dive into the intricacies of mobile home park septic systems and leach fields, and discuss two capital raising investment strategies for mobile home park deals: debt and equity. Glenn also recounts his transition from Corporate America to mobile home park owner.
Tune into this episode of the Passive Mobile Home Park Investing Podcast with Andrew Keel and Glenn Yaney to learn about the significance of tenant retention and tenant satisfaction in order to foster thriving manufactured housing communities.
***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.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show.
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
01:12 - Glenn Yaney’s journey from Corporate America (American Homes 4 Rent) to mobile home park investor
13:21 - Glenn Yaney’s portfolio in the Tampa, Florida MSA
17:40 - Learning through experience when investing in mobile home parks: leach fields, septic tanks, and mobile home park-owned homes
21:35 - Sourcing mobile home park deals through brokers
24:35 - Rough mobile home parks are sometimes the best mobile home parks to invest in.
28:03 - Two ways to invest in mobile home parks: debt and equity
34:53 - Prospectus with mobile home parks in Florida
37:37 - Reaching out to Glenn Yaney
38:00 - Focus on the mobile home parks with tenant-owned homes
39:49 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
The Millionaire Journey Podcast: https://podcasts.apple.com/us/podcast/the-millionaire-journey-podcast/id1728886342
Glenn Yaney Twitter/X: https://x.com/GlennYaney
Vertical Equity Partners: https://www.verticalequityproperties.com/
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:
“These are all lessons that would have been hard to learn without going through the work.” - Glenn Yaney
“A lot of (mobile home park) brokers do favor people who rely on them.” - Glenn Yaney
“Building relationships (in the Mobile home park asset class) is key, for sure.” - Andrew Keel
“You want it to be a nice place to live. I want to go to bed at night knowing that I’ve done the right thing.” - Glenn Yaney
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 Daniel Weisfield of Three Pillar Communities.
Daniel Weisfield, a previous guest on the show, is a third-generation mobile home park owner-operator. Growing up, he spent his time fixing porches and mowing lawns at his grandfather’s mobile home parks on the west coast in California and Washington. He holds a JD and an MBA from Yale University and is a licensed attorney in California.
Since Daniel’s interview in October 2020, the Three Pillar Communities portfolio has experienced remarkable growth. It has expanded from just under 30 communities in 5 states, comprising 2,700 lots, to more than 70 manufactured housing communities across 14 states, now serving over 10,000 residents with a team of 120+ employees.
In this episode, Andrew Keel and Daniel Weisfield dive into various aspects of the mobile home park industry, including ground-up mobile home park development, passive investing tips for LP’s (limited partners), why vertically integrated manufactured housing community operators are better, value-add mobile home park investment returns, regulatory risks, and the crucial role of providing safe, quiet, and affordable housing for low-income individuals.
Tune in to explore the intricacies of the mobile home park industry, understand its highlights and challenges, and gain valuable insights from Daniel Weisfield, as he shares golden nuggets for limited partner investors eager to navigate this dynamic 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.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show.
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
01:50 - Daniel Weisfield’s real estate journey and how the Three Pillar Communities portfolio has grown in the past few years
06:50 - Andrew Keel’s foray into self-storage investing, his portfolio, and investment strategy
12:41 - Daniel Weisfield’s experience with RV parks
15:00 - Getting more proactive with mobile home park off-market deals
17:30 - Ground-up mobile home park development
20:00 - For Sale Mobile home model and estimating potential profits in underwriting
22:30 - Vertically integrated manufactured housing community operators
25:00 - Land development skills and when to hire professional developers
27:45 - The importance of making investment mistakes and learning from them
33:00 - Investing passively in ground-up mobile home park developments
34:30 - Peace and security in a quiet mobile home park community
36:40 - Puyallup River RV Park
41:14 - Getting a fair return on your mobile home park investments
43:44 - Reaching out to Daniel Weisfield and accessing his newsletter
44:30 - Being knowledgeable and knowing who your mentors are
44:57 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Daniel Weisfield’s LinkedIn: https://www.linkedin.com/in/daniel-weisfield/
Three Pillar Communities: https://threepillarcommunities.com/
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:
“One thing I've observed in manufactured housing is investors in this asset class, particularly new investors in this asset class, fall in love with the (Mobile Home Park) asset class story and forget the first rule of real estate, which is location, location, location.” - Daniel Weisfield
“It takes a lot of time to master (Mobile Home Park) operations; it doesn’t just happen overnight.” - Andrew Keel
“We strongly believe in a for-sale (Tenant-Owned Home Mobile Home Park) model.” - Daniel Weisfield
“Don’t believe the hype about mobile home parks.” - Daniel Weisfield
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 Loan Broker Scott Modelski, Managing Partner at Black Bear Capital Partners.
Are you looking to invest in mobile home parks but unsure how to navigate the loan process? Scott Modelski can help guide you through it.
With over 15 years of experience in commercial real estate, Scott Modelski is a seasoned loan broker who has worked with both institutional and entrepreneurial sponsors across various asset classes. He began his career at Wells Fargo Bank’s Commercial Real Estate Group, handling transactions exceeding $1 billion. Now, as Managing Partner at Black Bear Capital, Scott specializes in sourcing and executing structured debt and equity transactions.
In this episode, Andrew Keel and Scott Modelski explore the complexities of banking dynamics and the intricacies of navigating Fannie Mae and Freddie Mac deals. They dive into crucial topics for Limited Partners (LPs), including insights on the 10-year treasury, strategies for restructuring capital in the case of excessive debt, and the current banking cycle's nuances. Scott shares invaluable tips on distressed commercial real estate deal situations and essential pre-loan preparation with how mobile home park operators or sponsors can best position themselves for securing a cash-out refi loan.
Join Andrew Keel and Scott Modelski as they provide a comprehensive guide to securing financing from banks, uncover why mobile home parks are a standout asset class, and offer expert advice to help you secure the financing for your manufactured housing community investments.
Tune in for a deep dive into the world of real estate financing and mobile home park investing with Andrew Keel and Scott Modelski.
***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.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show.
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
01:30 - Scott Modelski’s history in commercial real estate and working with Andrew Keel when financing Mobile Home Park investments
05:00 - Three ideal solutions for the lender during a recession
10:44 - The nuances of the current banking cycle
15:18 - Restructuring capital if you took on too much debt
17:25 - Distress in the Mobile Home Park market
19:07 - The good thing about using a mobile home park loan broker and typical terms offered
23:34 - Younger investors in the mobile home park asset class
25:37 - Investing with a mobile home park operator as a Limited Partner (LP)
29:50 - Mobile Home Parks usually allow investors the opportunity to add value quickly to their investment
34:09 - Fannie Mae and Freddie Mac have a give-and-take investor relationship
41:21 - What Limited Partners (LPs) need to know about the 10-year treasury
43:37 - Investors looking to refinance: short-term loans versus long-term loans
45:46 - The perfect mobile home park from a debt perspective
47:20 - Tips on how a mobile home park operator or sponsor can best prepare for a Mobile Home Park financing event
49:00 - Reaching out to Scott Modelski
50:09 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Black Bear Capital Partners: https://bbcp-llc.com/
Scott Modelski’s cell number: (312) 217-4511
Scott’s email address: [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:
“The banks right now are not really taking a lot of action.” - Scott Modelski
“We haven’t seen folks come back to work like they were pre-COVID.” - Scott Modelski on office
“There's always some level of distress in the marketplace, even in a really strong upmarket.” - Scott Modelski
“There's definitely a wide range of both personalities and market outlooks and the way people put together deals..” - Scott Modelski
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 Dave Foster, Founder and CEO of The 1031 Investor.
Dave Foster, a seasoned 1031 intermediary investment professional, brings over two decades of expertise in all aspects of real estate investing, ranging from commercial to residential properties. With a degree in Accounting and a Master’s in Management, Dave possesses a deep understanding of 1031 exchanges, enabling investors to strategically leverage these funds for passive investments.
In this episode, Andrew Keel and Dave Foster dive into the complexities of 1031 exchanges. They explore the advantages of these exchanges for both active and passive investors, strategies for transitioning to passive investing using 1031 funds, and forward-thinking retirement planning, including converting properties into retirement residences. Additionally, they discuss the impact of the 2018 changes on furnishings, fixtures, and equipment (FF&E), as well as the nuances of capital gains taxes and the current tax rates.
Join the conversation today as Dave Foster shares his extensive real estate investing knowledge and offers invaluable insights into the intricacies of the 1031 Exchange.
***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.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show.
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
01:11 - A crash course on the 1031 exchange for commercial real estate investors
08:43 - Using 1031 funds to move into passive investments
12:45 - Using 1031 funds for a (mobile home park) REIT investment.
17:00 - Planning ahead for your retirement and tips on managing the often daunting time-frame limits associated with 1031 exchanges
21:10 - Converting your 1031 exchange property into a series of retirement primary residences
23:21 - FF&E (furnishings, fixtures, and equipment), and the impact of the 2018 IRS tax law changes
26:00 - Nuances of Capital gains taxes and the current tax rate
27:34 - Getting in touch with Dave Foster of the 1031 investor
28:35 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
The 1031 Investor: https://www.the1031investor.com/
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:
“If you want to put a small amount because a lot of people will test the water with syndications. If you want to put a small amount into it, do a 1031 exchange.” - Dave Foster
“With the 1031, there is an option to defer it throughout your entire lifetime. And when you die, your heirs will inherit that property tax-free.” - Dave Foster
“The 45 days, is it tight? Sure. However, but what if you thought about your 1031 before you sell your property?” - Dave Foster
“Well, one roof will wipe out 20 years of cash flow. So if I'm hanging on to that, I'm hanging on to a house of cards.” - Dave Foster
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 Steve Edel and Justin Gonzales from Due Diligence Partners.
Due diligence plays a pivotal role in every mobile home park acquisition, whether you're on the buying side or selling side, of a trailer park investing transaction. However, navigating this process can often feel overwhelming, with numerous boxes to check and paperwork to organize before making a final decision. Fortunately, this is where Justin Gonzales and Steve Edel step in from DueDiligencePartners.com.
As the founders of Due Diligence Partners, Justin and Steve, offer a comprehensive national due diligence service tailored specifically for manufactured housing communities. Managing partner Justin Gonzales, a Navy veteran, entrepreneur and an active real estate investor with over 14 years of experience, has overseen well over a hundred mobile home park due diligence acquisitions. His partner Steve Edel, transitioned from the information technology (IT) field to become an active investor in the mobile home park asset class. Together, they recognized a critical gap in the mobile home park investment industry: the lack of proper and professional due diligence services.
In this episode, Andrew Keel sits down with Justin Gonzales and Steve Edel to dive into the complexities of evaluating and completing due diligence on mobile home parks. They explore key questions investors should pose to general partners (GPs) before committing capital to a mobile home park syndication, they dive into essential due diligence documentation that should be required, they outline the minimum requirements for a thorough mobile home park due diligence process, and they shed light on the costly mistakes often made by mobile home park operators during due diligence.
Join the conversation as Justin Gonzales and Steve Edel (also known as Stathis Edel on LinkedIn) from Due Diligence Partners share their extensive knowledge and recount some eye-opening due diligence anecdotes, offering invaluable insights into this essential aspect of mobile home park investing.
***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.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show.
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
02:05 - Two different worlds: Steve Edel’s transition from IT to the mobile home park asset class
05:18 - Getting over “analysis paralysis” in 2009
07:32 - Steve’s mobile home park portfolio
08:20 - Justin Gonzales’ “yadda, yadda” (journey into mobile home park investing)
10:52 - What Due Diligence Partners can do for your mobile home park due diligence
16:00 - The difficulty of due diligence experienced in Mobile Home Parks
18:50 - Mobile Home Park due diligence eye opening stories
28:35 - The top questions they would ask a GP(General Partner) before investing with them in a mobile home park fund or syndication
35:30 - Essential mobile home park due diligence documents needed
39:31 - What Justin Gonzales and Steve Edel consider the bare minimum for mobile home park due diligence documentation from a seller
45:45 - The most costly items that mobile home park operators omit when performing due diligence
50:00 - What Justin and Steve consider in a perfect mobile home park
53:15 - Getting in touch with Steve Edel and Justin Gonzales
53:22 - Figuring out what your definition of “passive” mobile home park investing is
54:39 - Conclusion to mobile home park investing due diligence
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL: https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Due Diligence Partners: https://www.duediligencepartners.com/
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 were very apprehensive about our first (mobile home park) deal. Not having a freaking clue that it was a fantastic deal. At that time, I didn't have the ability to easily look ahead and say, ‘Of course, this is a guaranteed slam dunk.’” - Steve Edel
“It does take hard work, but it is attainable.” - Justin Gonzales
“If you don’t know what to ask, it just doesn’t happen.” - Steve Edel, about due diligence on mobile home parks
“Your infrastructure is half of the value of the property.” - Steve Edel
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 Jordan Nodel of Nodel Parks.
Jordan Nodel, the Principal of Nodel Parks headquartered in Bloomfield Hills, Michigan, oversees a diverse portfolio of over 40 mobile home parks spanning across 10 states, including the unique landscape of Alaska.
On this episode of the Passive Mobile Home Park Investing Podcast, Andrew Keel and Jordan Nodel discuss Jordan's journey into mobile home park investing and the nuanced generational differences in approach when evaluating mobile home park investments and making mobile home park management decisions. They also discuss strategic considerations such as optimal locations for mobile home park investments, emphasizing areas with burgeoning growth and employment opportunities. They also discuss competing in the mobile home park sales market and how short-term investment perspectives often clash with long-term sustainability goals. They both agree on investing in larger, more attractive mobile home park properties, particularly those equipped with essential public utilities for operational efficiency and ideal scale.
Tune in to uncover Jordan Nodel’s comprehensive outlook on the Mobile Home Park Industry, including his strategies for effectively managing his mobile home park portfolio scattered across the entire United States (from Alaska to Alabama), and Jordan’s insights into what defines “the perfect mobile home park.”
***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.
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show.
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
01:20 - How Jordan Nodel got started in mobile home park investing
06:41 - Generational differences in buying criteria when choosing mobile home park deals and purchasing new mobile home parks.
09:02 - Buying mobile home parks in optimal locations with growth and employment opportunities
11:56 - Competing against other mobile home park investors who have a short-term outlook on their investments
14:00 - Larger and more appealing mobile home park locations, preferably with public utilities
15:45 - Investing in commercial real estate
16:53 - Stability and upside in a mobile home park for the residents and the investors
21:41 - From Alaska to Alabama: how Jordan Nodel manages his mobile home parks when they are so spread out
23:55 - People who are in the mobile home park business for quick money
26:00 - Getting in touch with Jordan Nodel
26:46 - The importance of trust in investing
27:28 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Links & Mentions from This Episode:
Nodel Parks website: https://www.nodelparks.com/
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:
“The ability to steer my own ship, so to speak, to grow the value of the company, do more deals, to travel to properties to see them or to oversee our operations was something very attractive..” - Jordan Nodel
“There’s no price you can put on sleeping well at night.” - Jordan Nodel
“When you don't have the pressure under you of a fund or a short-term outlook, you could do a few deals a year and be very happy. And now we own around 40 (mobile home) parks all across the nation. That's a pretty good portfolio to have.” - Jordan Nodel
“Investing in cash-flowing real estate is a more slow and steady proposition. This isn't venture capital.” - Jordan Nodel
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