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 Derek Vickers from Vicktory Real Estate Group. Derek and Andrew discuss the most important aspects that limited partners and passive investors need to look out for when investing into mobile home parks passively. They also discuss how interest rates are changing investing strategies and how park owned homes are likely a higher risk than tenant owned homes during a tougher economy.

Derek started his mobile home park investing journey with his first mobile home park purchase in September 2020 after 10 years in the insurance business as a sales manager. He currently owns and operates 2,000 lots across 38 different mobile home parks throughout the southeast, 23 of those being in Florida. Victory Real Estate Group specializes in turning around neglected mobile home parks by increasing occupancy, converting park owned homes to tenant owned mobile homes and reducing operating expenses. With a busy schedule Derek enjoys spending time with his wife and daughter and has another baby on 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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

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 200 total 5-star reviews by the end of 2023, 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:

00:21- Welcome to the Passive Mobile Home Park Investing Podcast

02:10- Derek's journey into manufactured housing communities

08:00- Balancing mobile home park management and sales when you're going through a lot of growth

10:40- Derek's first mobile home park deal

11:40- How Derek self-educated before cold calling mobile home parks

13:40- The toughest hurdle to overcome in mobile home park investing

18:04- Derek's current mobile home park investing strategy

21:10- How Derek converts parks from park-owned homes to tenant-owned homes

23:50- Smaller parks versus bigger parks: management and expense ratios

25:30- Mistakes that Derek made

28:30- The most important things that limited partners and passive investors need to look out for when investing into mobile home parks

29:49- Derek's perfect mobile home park

31:00- What the future of mobile home park investing looks like

33:24- Getting a hold of Derek

34:03- Conclusion

Links & Mentions from This Episode:

Derek Vickers' email:[email protected]

Derek Vickers' instagram:https://www.instagram.com/derekvickers885/

Derek Vickers' twitter:https://twitter.com/derekvickers885?lang=en

Derek Vickers' tiktok:https://www.tiktok.com/discover/derekvickers885

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:

“That first park was probably like I learned on level 10 at level 1, so there was no gradient. It was just all in.” - Derek Vickers

“I think people just underestimate the work involved and the things that are actually involved in this because the operations can be tough and I understand that.” - Derek Vickers

“You need to get reliable and trustworthy people on your team.” - Derek Vickers

“Make sure you're going through all of your due diligence checklist.” - Derek Vickers

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 Craig Napoliello of 40 Oaks Properties. Andrew and Craig discuss the benefits of geographical targeting when managing mobile home parks from an operational standpoint, monetizing park owned homes versus tenant owned homes, and the significant benefits of scalability when buying mobile home parks.

Craig worked as a fixed-income trader for a large portion of his career and now works at a fintech firm. After he acknowledged his growing interest in real estate and dabbled in single-family home investments, he began his multi-family journey in the beginning of 2019. When he's not at his W-2 job, Craig loves to learn new ways to build generational wealth through mobile home parks and other investment real estate.

***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

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 total 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.

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:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

01:25 - Craig's journey into real estate investing

06:25 - Funding: raising money for deals or personal money

09:30 - Craig's first MHP deal in North Carolina

15:06 - The toughest hurdle to overcome in mobile home park investing

15:31 - Craig's management company

17:45 - Learning from mistakes in manufactured housing communities

19:20 - Tenant-owned homes, park-owned homes, and rent-to-own

24:30 - Changes in viewpoints from when Craig bought his first MHC portfolio

28:15 - Buying smaller mobile homeparks

31:48 - Important points passive investors should know about the mobile home park space

35:33 - Bringing over skills from Craig's W2 job.

37:32 - Getting a hold of Craig

37:52 - One final tip

39:15 - Conclusion

Links & Mentions from This Episode:

Craig's email: [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:

"If I think that manufactured housing is a better vehicle for my investments, why am I not doing that?" - Craig Napoliello

"If the opportunity is there, I should be doing everything in my power to bridge the gap financially." - Craig Napoliello

"It was super important to them what was going to happen to the park and we made them feel comfortable about that. This gentleman was a little less worried about that, but I'd say that he wanted to be treated like the master of his domain." - Craig Napoliello

"Like everything else during COVID and this inflationary period, the prices of used cars have gone up. We've seen things in our market." - Craig Napoliello

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 his business partner, John Squartino of Keel Team Real Estate Investments. Andrew and John discuss a few things including: park owned home sales within mobile home parks, rent collections protocols and the management of capital expenditure projects within mobile home parks. Andrew and John also talk about some of refinancing difficulties they have experienced this year during the FED's interest rate hikes, how value-add manufactured housing communities are their chosen investment strategy and what a perfect mobile home park looks like from a Chief Operating Officer's view point.

Born and raised in Orlando, Florida John Attended the University of Central Florida graduating in 2013 with a Major in Marketing and a Minor in Sports Business Management. Upon graduation, John landed a job with a start-up sports technology company where he assisted in product development, marketing, and customer support. After four years of employment there a life-changing event occurred when he ran into a childhood friend; Andrew Keel. After a couple conversations revolving around mobile home parks, John decided to put a bow on the sports tech career and take this journey with Andrew in the mobile home park space. Fast forward 5 years, they have been able to acquire 34 mobile home communities and employ over 40 people across the world in their mobile home park property management company.

***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

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 200 total 5-star reviews by the end of 2022, 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:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

02:11- How John got into mobile home parks

04:36 - Frank and Dave MHU Bootcamp

05:31- Preconceptions about mobile home parks and the STIGMA

07:20 - Their first mobile home park

09:30 - The toughest hurdle for most operators in mobile home park ownership

10:37 - Comparisons of other asset classes: Apartments vs self storage vs mobile home parks

12:33 - Hardest value add component in mobile home park investing and the story of Norfolk MHC

18:12 - Best opportunity or strategy in the marketplace right now for mobile home park investing

21:18- Mistakes he has made in mobile home park investing

23:50 - Most important things that passive investors need to look out for when investing into mobile home parks

25:07 - John's perfect mobile home park

27:28 - The future of mobile home park investing according to John Squartino

29:11 - Getting a hold of John

00:00 - Conclusion

Links & Mentions from This Episode:

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:

“I saw that you were selling mobile homes on your Facebook. I wasn’t sure if you were crazy or if you were crazy.” - John Squartino

“I think one of the biggest hurdles has got to be just the managing of the property, property management as a whole.” - John Squartino

 “Infill has got to be one of the hardest things, mainly because of there being so much red tape. Just because you do something in one community doesn't mean that you can do it that way in the next.” - John Squartino

“You've got to be tenacious with it. The sense of urgency has got to be high.” - John Squartino

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 Miles Noland from Treeside Capital. Miles and Andrew discuss why mobile home parks are one of the best performing asset classes and the stability that mobile home park investments have previously provided during recessions. They also discuss the hurdles operators must overcome with on-site managers managing the mobile home parks and the important role the operations team plays to improve the income and expenses of mobile home park investments.

Miles is a principal at Treeside capital and they invest in manufactured housing communities, RV parks, and self-storage facilities. They are based out of Cincinnati, OH and currently own and operate around 1,300 units
worth around $33 million. Miles is also a former college baseball player and coach.

***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five -star review. Thanks ahead of time for making my day with your five-star review of the show.

Would you like to see mobile home park CAPEX 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 - Miles’ story and how he got into manufactured housing

05:44- Miles’ first MHP deal

07:23 -The story behind Treeside Capital and their portfolio

12:57 - The team at Treeside Capital

15:30 - The toughest hurdle for operators in mobile home parks

18:00 - The hardest value add component in mobile home park investments

20:00- Infill in mobile home parks

22:00- The best opportunity or strategy for mobile home park investing

25:05- Mistakes to learn from

27:47- What LP's need to look out for when investing in MHP's

31:05 - Preparations for the future and possible recession

32:43 - Getting a hold of Miles Noland

33:22 - Conclusion

Links & Mentions from This Episode:

Treeside Capital: https://treesidecapital.com/

Miles Noland, LinkedIn: https://www.linkedin.com/in/miles-noland-62a60a119/

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:

“I finally started doing some cold-calling and that’s when I got some traction.” - Miles Noland

“I would say [of all the asset classes] mobile home parks are the most stable.” - Miles Noland

 “That’s been one of the hardest things to do is build up a good team.” - Miles Noland

“That’s one of my favorite questions, is just ‘Hey, can I get some advice?’ cause people want to help.” - Miles Noland

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 Andy Freeman from Enjoy Communities. Andrew and Andy discuss what passive investors should look out for before investing into mobile home parks. They also discuss how agency financing (Fannie Mae and Freddie Mac) and supplemental loans fit into the mobile home park model and the lessons that they have learned from managing mobile home parks in northern colder states.

Andy Freeman is the founder of Enjoy Capital Group. Enjoy Capital is an emerging real estate private equity investment group with a growing portfolio of mobile home parks. They currently have over 300 lots under contract. Before this, Andy worked as the Vice President of acquisitions for Third IV Properties from 2020 - 2022 helping to facilitate the purchase of 10 mobile home parks in the midwest and actively participated as a member of the general partnership to help operate, enhance, and add value to these mobile home parks.

***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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.

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. Inorder 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. Thanks ahead of time for making my day with your five-star review of the show.

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

01:30 - Andy's story and how he got into manufactured housing

04:22 - Partnering with others

05:05 - Mobile home parks in the midwest

06:21 - Enjoy Communities

08:00 - Utilities in mobile home parks

09:23 - The toughest hurdle for acquisitions

11:37 - Finding deals and cap rates for acquisition

15:30 - The hardest value-add component

17:53 - How Andy's strategy has changed over the years

19:20 - Mistakes to learn from

21:05 - Important things passive investors should look out for

24:55 - Tenant owned homes versus park owned homes

26:08 - Andy's team at Enjoy Communities

28:40 - Andy's perfect mobile home park

30:07 - The future of mobile home parks

00:00 - Getting a hold of Andy

00:00 - Conclusion 

Links & Mentions from This Episode:

Andy’s email: [email protected]

Enjoy Communities: http://www.enjoycommunities.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:

“With Enjoy Communities, the whole goal was to acquire stabilized parks with a good tenant base and a good history of paying tenants. Especially in this current market, the whole goal is not to take on too many large value-add projects.” - Andy

“Value-add just gets tossed around day in and day out. Bringing in homes is a challenge.” - Andy

“At the beginning, I didn't necessarily look at the end game, which is the refinance.” - Andy

“I don't know if I could have prepared for that or not, but just not knowing everything. You're going to make those mistakes and you learn by doing.” - Andy

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 Ryan Murdock from Open Door Capital. Ryan and Andrew discuss the benefits of having a vertically integrated mobile home park property management company as an owner/ operator. They also discuss the opportunities available today in the MHP space and the proactiveness needed in the current economic market in order to transact. They also discuss in depth what Ryan thinks are the most important things that passive investors should look out for when investing in mobile home parks.

Ryan spent 10 years in the semiconductor manufacturing industry before moving into real estate investing and property management in 2007. Since then, he has acquired an extensive portfolio of multifamily rental properties. He has operations and management experience in many facets of real estate including retail: office, multifamily, homeowners associations, and eour favorite mobile home parks. Ryan also has experience managing and consulting on nationwide commercial real estate turnaround projects. As a co-founder of Open Door Capital, Ryan played a critical role in setting up the early operations and in assembling some of the experienced team members they have today. In his spare time Ryan is an avid scuba diver and adventure seeker from his home base in Maui, Hawaii.

***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

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 200 total 5-star reviews by the end of 2022, and it would mean the absolute world to me if you could help contribute to that.

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:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

01:51 - How Ryan Murdock got into manufactured housing communities

03:00 - Open Door Capital and Ryan's current projects

05:09 - The toughest hurdle for most operators in mobile home park ownership

06:55 - The hardest value add component in mobile home park investing

07:58 - The easiest value add component in trailer park investing

09:00 - Ryan's mobile home park investment strategy

11:49 - Running a property management company

13:55 - The best opportunity in the marketplace NOW for mobile home park investing

15:43 - Mobile home parks and the economy the next couple years

19:33 - Mistakes Ryan has made in mobile home park investing

21:21 - The most important things that passive investors should look out for when investing in mobile home parks

23:15 - Raising rent

25:20 - Ryan's perfect mobile home park

27:00 - Underwriting

28:54 - Infill and paying for vacant lots

30:11 - Getting a hold of Ryan Murdock

00:00 - Conclusion

Links & Mentions from This Episode:

Open Door Capital: https://odcfund.com/

Ryan's email: [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:

“You walk into a place that has been poorly managed over the period over the handful of years prior to our ownership and that's like the easiest low-hanging fruit.” - Ryan Murdock 

“We're really spread out. We prefer the Southeast, Sun Belt stuff, but we have parks everywhere from Florida to Alaska and everywhere in between.” - Ryan Murdock

“Get out of your comfort zone and do those uncomfortable things, make those connections, continue to network, and big things can happen from it.” - Ryan Murdock

“You really got to put a lot of focus on the team and on the operators.” - Ryan Murdock

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 tells his story. Today Andrew is on the other side of the mic as he is interviewed by his current COO and business partner, John Squartino. On today's episode Andrew shares with us where his passion for mobile home parks started, his personal opinion on what to look for before investing with mobile home park operators and the hardest component of value add in a mobile home park investment. Andrew also shares some of the mistakes and lessons he has learned over the years he has invested in mobile home parks.

Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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. Andrew is also a father, husband and an entrepreneur who enjoys competing in Ironman triathlon events.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

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 200 total 5 - star reviews by the end of 2022, 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:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

03:35 - Andrew’s journey into manufactured housing

08:00 - Andrew’s first park and how he built The Keel Team

10:30 - The toughest hurdle for most operators in the MHP ownership world

12:11 - The hardest value-add component

16:00 - How Andrew’s strategy has changed over the years

18:13 - The best opportunity or strategy right now for MHP investors

19:28 - The mistakes that Andrew has made and learned from

22:50 - The most important thing passive investors need to look out for

24:15 - Andrew’s perfect mobile home park

26:22 - The future of MHP investing

28:35 - The best way to reach out to Andrew

29:05 - Conclusion

Links & Mentions from This Episode:

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:

“I was astonished by the demand I had to buy these two mobile homes.” - Andrew

“I was hooked. I was like, ‘Wow, this is where it’s at. The demand is here.’” - Andrew

“Typically when we buy one, we put it on a five-year time horizon but with interest rates going up recently, we’ve just expedited that like crazy.” - Andrew

“Infill has got to be the toughest. It’s not super complex, but there’s just so many moving parts and you need to stay on it.” - Andrew

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

Links & Mentions from This Episode:

BonaVida Group: https://www.theboavidagroup.com/

Elias email: [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 more you can get involved in the beginning on [the better], like how the dealership side of the business works” - Elias Weiner

“The biggest risk is not doing anything, is just sitting there idle.” - Elias Weiner

“I'll typically figure out what I think the true market rent is, and then I'll make sure that I'm there or just past there in year five..” - Elias Weiner 

“The beauty of real estate investing is, first of all, multifamily, whether it's apartments or mobile home parks, are one of the most predictable safest types of real estate investing.” - Elias Weiner

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 Edwin Byler from Blue State Capital. Edwin and Andrew discuss getting started in the mobile home park business, the learning curves experienced as a new investor and how to stay well informed on the journey of becoming an active investor within the mobile home park industry.

Edwin Byler is a commercial real estate broker and mobile home park investor. Starting at age 19, Edwin began investing in real estate as a means for additional income while still working his W-2 job. He has since built a portfolio of 60 mobile home park lots and just over 25,000 sq. ft of commercial mixed-use space. Edwin continues to invest throughout the state of North Carolina (the blue state). He enjoys using creative financing, including zero money down and building long term relationships to get deals done.

Edwin is also a two-time world record holder for deadlifting.

***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. Thanks ahead of time for making my day with your five-star review of the show.

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

01:40 - Edwin's story and the story of Blue State Capital

03:30 - Edwin's first mobile home park deal

06:16 - From a 6-unit to a 51-unit

09:43 - The process of closing on a MHP property

15:00 - Utility preference

18:30 - Mistakes to learn from

21:17 - The perfect mobile home park for Edwin

22:00 - The most important things passive investors need to look out for

23:23 - The future for Edwin and Blue State Capital

24:05 - Getting a hold of Blue State Capital

25:00 - The history of Blue State Capital's name

25:20 - Deadlift world record

26:12 - Conclusion

Links & Mentions from This Episode:

Edwin Byler, LinkedIn: https://www.linkedin.com/in/edwin-byler-771867170/

Edwin's email: [email protected]

Blue State Capital: https://bluestatecap.com/

Blue State Captial, Instagram: https://www.instagram.com/bluestatecapital/

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:

"I learned a lot about real estate. After a certain period of time, it's just about taking action on that." - Edwin Byler

"One of my biggest mistakes was not checking the titles to homes." - Edwin Byler

"There's so much that goes into septics." - Edwin Byler

"There's so many variables in parks, whether it's tenant owned homes, park owned homes, city utilities, private utilities, roads..." - Edwin Byler

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 Alex Ramirez of Lucky Communities. Alex and Andrew discuss Alex's strategy when it comes to investing in mobile home parks. They also touch on Alex's experience in the hospitality industry and how he journeyed into mobile home communities. Alex and Andrew also talk about the future of the mobile home park industry given the uncertainties in the economy, the opportunities mobile home park investing presents and they give advice to new investors.

With his partner Zach Kupperman, Alex co-founded Lucky Communities.They have a combined 25 years of experience in the housing industry. Alex oversees all company and park operations. He is responsible for property management, tenant management, acquisitions, underwriting, facilities, human resources, and deal origination. Alex previously founded the real estate firm CSM Realty, a real estate development and management firm based in New Orleans, Louisiana specializing in boutique hotel and multi-family assets.

***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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.

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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

Click Here: https://intro.co/AndrewKeel

Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. Thanks ahead of time for making my day with your five-star review of the show!

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

00:21-Welcome to the Passive Mobile Home Park Investing Podcast
02:00-Alex's journey into mobile home park investing
09:15-The hospitality business and boutique hotels in 2020
14:17-Lessons from the hospitality business
19:00-Lucky Communities
21:47-Property management
25:21-The hardest value-add component in mobile home parks: infill
26:27-Value-adds in Alex's current acquisitions
28:40-The best opportunity or strategy in mobile home park investing right now
32:36-Mistakes Alex has made in mobile home park investing
34:32-Finding deals
35:50-The most important things passive investors need to look out for when investing in mobile home parks
37:59-Alex's perfect mobile home park
39:00-The future of mobile home park investing
41:39-Getting a hold of Alex
42:17-Conclusion

Links & Mentions from This Episode:

Quotes:

“It was a moment where we all came together and said, look, let's figure this out. How are we going to be able to survive?” - Alex Ramirez

“The strategy I think right now is being patient. Don't do a deal for the sake of doing a deal. You can lose a lot of money that way.” - Alex Ramirez

“I like the mobile home park space. I think there's a lot of potential there.” - Alex Ramirez

“The demand for affordable housing isn't going anywhere.” - Alex Ramirez