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 about passively investing in mobile home parks with Kevin Bupp. Kevin is the host of the Mobile Home Park Investing Podcast as well as the Real Estate Investing for Cash Flow Podcast. Both of which are top ranked on iTunes. At his day job, Kevin is a fund manager for Sunrise Capital Investors, which focuses on niche market segments that are currently out of favor, inefficient, and have less competition. With over two decades of experience, Mr. Bupp also educates investors how to locate, negotiate, and acquire commercial real estate to generate cash flow and legacy wealth for their families. Today Kevin and Andrew talk about value add components, past experiences, risks involved with investing in trailer parks, the future of asset class, and Sunrise Capital Investors.

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 over to iTunes and leaving 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:

00:19 - Welcome to the Passive Mobile Home Park Investing Podcast

01:24 - Kevin’s background and educational journey through real estate

07:00 - Great on-site manager s vs slum-lord managers

11:28 - Mayor Bobby Cartwritght

13:24 - The hardest part about the mobile home park business

20:57 - The biggest risks in passive investing

26:26 - The value add components

30:49 - What does the perfect mobile home park look like

31:42 - The typical park that Sunrise Capital acquires

35:28 - What does Sunrise specialize in?

40:07 - The future of asset prices

44:00 - Sunrise Capital team and operations

50:45 - What are Kevin’s typical general partner splits and fees

55:00 - Getting a hold of Kevin

00:00 - Conclusion

 

 

Links & Mentions from This Episode:

Kevin Bupp’s official website: https://www.kevinbupp.com/

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 about passively investing in mobile home parks through syndications and joint ventures. Andrew covers the goal of these legal structures, the pros and cons of each, and his top ten tips on how to meet mobile home park syndicators that may not be advertising their current investment offerings.

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.

Would you like to see mobile home park value add projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.

 

Talking Points:

00:18 - Welcome to the Passive Mobile Home Park Investing Podcast

00:30 - Passive investing in mobile home parks through syndications and joint ventures

02:00 - Joint Venture Investments

03:30 - 506(b) or 506(c) SEC filings and investments

04:33 - Ten tips on how to meet mobile home park syndicators

07:03 - Pros and Cons to Syndications and JV deals

08:15 - Conclusion

 

 

Links & Mentions from This Episode:

Bigger Pockets website: https://www.biggerpockets.com/

Mobile Home University website: https://www.mobilehomeuniversity.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:

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 CPA Noah Rosenfarb. Noah has been studying the tax code his entire life in order to find legal loopholes so he can help people legally reduce or eliminate paying taxes. Not only is Noah a third generation CPA, he also has over twenty years of experience investing in real estate. Today Noah answers questions about tax issues within passive real estate investing, cost segregation, REIT’s, questions we should ask our CPA’s, and about his own 501(c): FIGI.

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:

00:18 - Welcome to the Passive Mobile Home Park Investing Podcast

00:30 - Noah Rosenfarb’s background

01:35 - Walking through a sample mobile home park deal

03:35 - Depreciation in real estate

05:10 - Taxable loss and how to carry it over to cover other income

08:15 - 1031 Exchange or 721 exchange

10:05 - Cost segregation

12:00 - Tax advice for new investors to real estate syndications

14:00 - CPA questions before passive investing in mobile home parks

15:50 - REIT investing

19:15 - Tax incentives for out of country companies

23:10 - Noah’s 501(c): FIGI

28:00 - Getting a hold of Noah

28:55 - Conclusion

 

Links & Mentions from This Episode:

Noah Rosenfarb LinkedIn: https://www.linkedin.com/in/noahrosenfarb/

Syndication Platform: https://investwithfreedom.com/

Freedom Family Office Website: https://freedomfamilyoffice.com/

FIGI Royalty Website:

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 about the second way you can passively invest in mobile home parks, which is through an investment fund structure. Andrew goes over investing in investment funds vs. syndications, and also discusses the legal side of the investment fund setup. Andrew also discusses the power of an experienced operator and how that can alleviate a lot of the risks involved with investing in mobile home parks. After all, you can have success investing in trailer parks if you are informed and educated.

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.

Would you like to see 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:

00:18 - Welcome to the Passive Mobile Home Park Investing Podcast

00:30 - Investment Fund Structure

01:15 - Syndications versus Funds

02:00 - The power of an experienced operator

03:00 - The Legal side of Investment Funds

05:50 - Property specific syndication

06:10 - The importance of trust

07:27 - Investment Funds are Close-Ended

07:52 - Variable based on investment 

08:15 - Examples of Funds in no particular order

09:20 - Tips for investing this way

11:11 - Funds with dry powder

11:30 - Conclusion

  

Links & Mentions from This Episode:

Investing in Real Estate Private Equity: An Insider’s Guide to Real Estate Partnerships, Funds, Joint Ventures & Crowdfunding, by Sean Cook 

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:

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 Mauricio Rauld, founder and CEO of the Premier Law Group. A premier boutique securities law firm. As a nationally recognized expert on private placements, Mauricio works with elite entrepreneurs who seek to increase and protect their wealth through syndications. Today we’ll be having a conversation about the legal side of mobile home park investing. If you have questions about the SEC, investing through an LLC, or the risks of passive investing in mobile home parks, this is the episode for you. Mauricio will also talk about why he loves investing in trailer parks so much and the benefits of passively investing.

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, can you please head on over to iTunes and give us a five-star review? Help me get to my goal of getting over 100 five-star reviews by the end of 2021!

 

Talking Points:

00:18 - Welcome to the Passive Mobile Home Park Investing Podcast

01:00 - Mauricio’s background in mobile home parks

02:40 - Major risks for passive investors investing in the funds and syndication type of deals

04:05 - Big red flags (legal and documentation)

07:55 - Top items that passive investors should look at in legal documentation

10:10 - Ideal ways for passive investors to invest

14:11 - Other states with high SEC filing fees

16:20 - Different holding company or LLC for different syndications

19:00 - The structure of the different entities

20:00 - Investing through an IRA

22:13 - Usual procedures for offering documents

24:30 - The difference between a 506(b) and a 506(c) offering

28:25 - Main advice for passive investors looking to invest in a mobile home park deal

29:35 - Getting a hold of Mauricio

30:00 - Conclusion

  

Links & Mentions from This Episode:

Mauricio Rauld’s email: [email protected]

Premier Law Group website: http://www.premierlawgroup.net/

Keel Team's official website: https://www.keelteam.com/

Andrew Keel's official website:

Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. This is the first episode in a new series on “how” to invest passively in mobile home parks. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks about investing in trailer park real estate investment trusts (REIT’s). REIT’s own and operate everything from hospitals to warehouses and even mobile home parks. They trade, just like stocks but they are required to pay out 90% of their profits as dividends. Check out this episode to find out the reasons why REIT’s maybe a good option for investors looking to retain a high level of liquidity.

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 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 www.AndrewKeel.com.

Would you like to see mobile home park value add projects in progress? If so, follow us on Instagram @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions. Once again, that's @passivemhpinvesting on Instagram. See you there.

 

Talking Points:

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

●     01:13 - A single investor versus partnering with a larger group of investors

●     02:08 - Mobile home park investing in four different ways

●     02:55 - Investing in trailer park real estate investment trusts (REITs)

●     04:09 - The benefits of REITs

●     04:28 - The three publicly-traded, mobile home park REITs

●     05:00 - Sun Mobile Home Communities

●     05:40 - Equity Lifestyle Properties Inc.

●     06:33 - UMH Properties Inc.

●

Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. This is the last episode in the series where Andrew discussed the 12 reasons why you should be investing in trailer parks. Today Andrew discusses reason #12 as to why you should invest in mobile home parks: mobile home parks are an asset class that offers one of the highest opportunities for net operating income growth (NOI). There are plenty of ways for an operator to raise the NOI of a mobile home park property, which can make the mobile home park property more valuable. Ultimately, this value add component can increase returns when investing in mobile home parks.

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.

Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at [email protected]. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.

 

Talking Points:

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

00:40 – Reason #12: Mobile home parks have one of the highest opportunities for net

             operating income growth

01:06 - Net Operating Income (or NOI) and how to increase it

02:45 - Charles Becker statistics on lot rents

03:08 - Frank Rolfe’s opinions on why lot rents are 100% too low

04:58 - In conclusion

03:27 - The pre-investment checklist

 

Resources/Links:

Keel Team, official website

Andrew Keel, official website

Andrew Keel, LinkedIn

Facebook page

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 about the #11 reason why you should start investing in trailer parks: mobile home parks are recession and inflation resistant. Mobile home park investing is a stable form of investment, even during times of recession and inflation. Between 2004 and 2018, operating income from mobile home parks rose by 87%, even during the great recession in 2008. Andrew further explains why the risks of investing in mobile home parks are not as scary as you might think.

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.

Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at [email protected]. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.

 

Talking Points:

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

00:35 – Reason number 11: recession and inflation resistant characteristics

00:53 - Why mobile home parks are recession resistant

02:03 - Operating income from mobile home parks

02:55 - In conclusion

03:27 - 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:

“Mobile home parks provide uncorrelated returns, meaning they perform well in strong and weak economic environmen

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.

Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at [email protected]. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.

 

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

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 about the 9th reason why you should invest in mobile home parks, and this is because of the HUGE stigma surrounding mobile home parks. Andrew will go over the bad reputation surrounding the asset class and why this is actually great for the few investors that aren’t scared away. In this episode, Andrew will also share some personal stories involving this topic as well.

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.

Would you like the pre-investment checklist that I use to review mobile home park deals before I invest in them? We are offering this as a free gift if you go to iTunes and leave a five-star review. To get the pre-investment checklist, leave us a five-star review on iTunes and then send us an email at [email protected]. In the email, please tell us who you are, what screen name you used to leave that review, and we’ll send the pre-investment checklist, directly to your inbox.

 

Talking Points:

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

00:31 - The stigma around mobile home parks

01:30 - The story of my first mobile home park capital raise

03:05 - Interesting tidbits about mobile home parks and safety

04:05 - In conclusion

04:34 - 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:

“That deal went on to create a 74% cash-on-cash return and all initial capital was returned in 24 months. Thankfully, I didn’t give up after hearing no from my first option.” – Andrew Keel

“In mobile home park communities the housing la