Top Risks: Private vs. Public Utilities in Mobile Home Park Investing
Passive Mobile Home Park Investing
Operator experience reduces utility risk
Andrew recommends investing with seasoned operators familiar with regional utility issues to avoid costly rookie mistakes.
Welcome back to another episode of The Passive Mobile Home Park Investing Podcast with your host, Andrew Keel! In this episode, Andrew dives into a crucial aspect of mobile home park investing: utility infrastructures.
Utilities are a key factor that can make or break a mobile home park investment. Whether you’re a new or experienced mobile home park investor, understanding the risks tied to both private and public utility systems is essential for safeguarding your investment.
As part of Andrew’s ongoing series on some of the top risks in mobile home park investing, today’s discussion highlights the differences between private and public utility systems. Private utility systems include things such as well water treatment and septic sewer systems, lagoon sewer systems and wastewater treatment plants. Public water and sewer is always the most preferred setup when buying a mobile home park and Andrew discusses why…
You’ll learn practical tips on how to evaluate these utility systems during the due diligence process to avoid costly mistakes and maximize your returns.
Key Points Covered in This Episode:
- Utility Due Diligence in Mobile Home Park Investing: What you need to know when evaluating utility systems during your investment process.
- Private Utilities in Mobile Home Parks: A closer look at well systems and sewer infrastructure, and how they can impact your mobile home park's operation. Why lagoon systems and wastewater treatment plants are potential red flags you should avoid.
- Public Utilities in Mobile Home Parks: Why are they preferred?
- Lift Stations inside of a Mobile Home Park: Understanding the role of lift stations and why they’re critical in both private and public utility setups.
- MHU (Mobile Home University) Reference Library: Discover how to leverage Mobile Home University’s due diligence checklist for utilities to ensure a thorough evaluation.
- Orangeburg Sewer Lines: Learn about the impact of aging Orangeburg sewer lines on utility decisions and how they can affect older mobile home parks.
By the end of this episode, you'll have a better understanding of the challenges and risks associated with mobile home park utility infrastructure and how to potentially navigate them to make more informed, risk-conscious mobile home park investment decisions.
Don’t miss out on this essential information for protecting and growing your mobile home park investments!
Be sure to subscribe, rate, and leave a review for The Passive Mobile Home Park Investing Podcast to stay updated with more expert insights.
***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 50 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.
Book a 1 on 1 consultation with Andrew Keel to discuss:
- A mobile home park deal review (get live feedback on your own MHP deal!)
- Mobile home park due diligence questions
- How to raise capital from investors for mobile home parks
- Mistakes to avoid in mobile home park investing, and more!
Click Here to book the 1 on 1 consultation: https://intro.co/AndrewKeel
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Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
00:53 - Key Considerations for Utility Due Diligence in Mobile Home Park Investing
03:00 - Deep Dive into Mobile Home Park Private Utilities: Well Systems and Sewer Infrastructure
03:54 - Mitigating Risks with trailer park Utilities: Why You Should Steer Clear of Lagoon Systems and Wastewater Treatment Plants in Mobile Home Park Investing
08:21 - Understanding the Importance of Lift Stations in Both Private and Public Mobile Home Park Utility Setups
12:15 - Utilizing the MHU (Mobile Home University) Reference Library: Your Essential Due Diligence Checklist for Utilities
14:42 - The Impact of Orangeburg Sewer Lines on Utility Decisions in Mobile Home Parks
16:11 - Recap: Key Takeaways on Private vs. Public Utilities in Mobile Home Park Investing
21:03 - Conclusion
SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
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
MHU (Mobile Home University): https://www.mobilehomeuniversity.com/
Quotes:
“Understand what you’re buying and what the (mobile home park) utility infrastructure looks like.” - Andrew Keel
“I’ve been burned and spent so much money on fixing broken water lines because of freezing and thawing them out in the middle of January.” - Andrew Keel
“Don’t buy (mobile home) parks with lagoon systems and stay away from wastewater treatment plant parks..” - Andrew Keel
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