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 Nick Najjar from Elephant Capital Partners. Nick Najjar is a promising mobile home park owner, entrepreneur, and real estate investor. He is passionate about the MHP space and has learned a lot in his first few years in the manufactured housing industry. Nick shares some of his lessons learned through direct mobile home park ownership along with his best tips for passive mobile home park investors. Nick also shares with us his opinions on the future of mobile home parks.
Besides being a mobile home park owner, Nick is an entrepreneur and passive investor. Nick is also a husband and father of four children. He’s a franchise owner of Real Producers Magazine and is the founder of Elephant Capital Partners. Elephant Capital Partners is growing at a rapid pace and they currently manage 5 mobile home parks with over 270 lots located throughout Missouri and Illinois.
***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:
- A deal review
- Due diligence questions
- How to raise capital from investors
- Mistakes to avoid, and more!
Click Here: https://intro.co/AndrewKeel
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
01:20 - Nick’s background
03:56 - Nick’s first mobile home park and resources for new investors
06:49 - The toughest hurdle in mobile home park ownership
07:55 - Managing mobile home parks
09:45 - How Nick finds his deals
12:00 - Where the MHP business and industry will be in the future
16:05 - What LP's need to look out for when they’re investing into MHP's with different operators or investment funds
19:50 - Nick’s perfect mobile home park
20:20 - Mistakes we can learn from
25:58 - Nick’s value add projects
30:29 - What makes Elephant Capital Partners different from everyone else
31:17 - Getting a hold of Nick
31:37 - Nick’s last piece of advice
Links & Mentions from This Episode:
Quotes:
“That's one of the things I love about listening to podcasts, learning to try and mitigate, and learning from other people's mistakes.” - Nick Najjar
“We moved into some homes trying to sell them, but it's really a renters market.” - Nick Najjar
“We just have some really great systems that we've been working on and pay attention to all the levers on a very consistent basis.” - Nick Najjar
“Just do your due diligence. Don't rely on a pro forma or anything that the investor tells you.” - Nick Najjar
Passive Mobile Home Park Investing 
