Challenges of remote site visits

Welcome back to another episode of The Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel!

In today’s episode, Andrew Keel continues his insightful mini-series on some of the top risks involved in mobile home park investing. This episode zeroes in on the risks specific to investing in mobile home parks in tertiary markets—areas with smaller populations that can offer both unique opportunities and significant challenges for trailer park investors.

Andrew Keel breaks down the specific risks associated with mobile home park investing in tertiary markets, ranging from limited infrastructure to economic instability, and offers actionable strategies to potentially mitigate these risks.

Key Points Covered in This Episode Include:

• Low population density and the impact of reduced demand in tertiary mobile home park markets
• How the distance from key amenities can affect the value and performance of mobile home park investments
• Challenges of selling mobile homes in small towns, and effective strategies to overcome these obstacles
• Longer travel times for mobile home park owners and operators, and how this impacts management efficiency
• The difficulty of finding reliable service providers and contractors in remote areas
• The financial risks of infill costs in mobile home park investments in less populated regions
• Limited options for utility companies, and how this can complicate mobile home park operations
• Public transportation limitations in tertiary markets and their effect on tenant demand and mobile home park investing success

If you're thinking about mobile home park investing in tertiary markets, it’s crucial to understand these risks and how to navigate them effectively.

Whether you're a seasoned mobile home park investor or just starting your passive investing journey, this episode offers valuable insights to help you make informed decisions and manage the complexities of investing in mobile home parks located in tertiary markets.

Tune in now to learn how to evaluate and manage these investment risks, protect your assets, and potentially achieve long-term success in 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 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

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 – Introduction: Welcome to The Passive Mobile Home Park Investing Podcast

01:50 – Risks of low population density and reduced demand in tertiary mobile home park markets

02:30 – Impact of distance from key amenities in small, tertiary mobile home park markets

03:00 – Challenges and strategies for marketing and selling mobile homes in small towns

04:30 – Longer travel times for mobile home park owners and operators in tertiary markets

05:40 – Difficulty finding service providers and contractors in remote areas

06:30 – Infill costs and the financial risks involved in tertiary market mobile home parks

07:15 – Limited options for utility companies in less populated regions and the impact on mobile home park utilities

08:52 – Public transportation issues in tertiary markets and their impact on mobile home park tenants

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

Quotes:

“There’s a lot of demand for affordable housing but if you’re in the middle of nowhere and there’s not a lot of employers around, there’s not going to be a lot of demand.” - Andrew Keel

“There’s little to no sufficient public transportation and with affordable housing, our tenant base is most vulnerable. They typically need public transportation to get to their jobs..” - Andrew Keel

“The big risk of buying mobile home parks in tertiary markets is, you should always have the end in mind. Who’s the next buyer?” - Andrew Keel