Passive Mobile Home Park Investing Interview with Bryce Robertson from Cultiv8 Collective
Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode, Andrew talks with mobile home park syndicator and operator Bryce Robertson from Cultiv8 Collective. Andrew and Bryce dive into why the demand for affordable housing in the United States is at an all time high, they also discuss how to change the tenant base in a mobile home park as to improve the property. Bryce discusses his in depth acquisition and refinance strategies that he believes will weather most economic climates. Bryce discusses how his investment strategy has changed since he started in mobile home parks in 2015.
Bryce purchased his first mobile home park in 2015 with a net worth of -$50,000, with unseasoned credit and a mere $2,000 in the bank. Once Bryce closed that seemingly impossible deal, he knew that anything was possible and continued to grow his knowledge, experience, and wealth to become financially free within 2.5 years through 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 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 .
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Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:31 - Bryce's journey into the Mobile Home Park investing world
06:28 - Living an active life alongside a growing portfolio of mobile home park investments
08:00 - How Bryce has built his team
08:50 - The toughest part of mobile home park investing
10:08 - How Bryce finds deals
15:00 - Bryce's portfolio and his first mobile home parks
17:31 - What the next five years in the mobile home park industry will look like
20:20 - The tenant base of mobile home parks and affordable housing
22:40 - Bryce's investment strategy and how it's changed over the years
26:38 - Mistakes that Bryce has made in mobile home park investing
28:35 - The most important thing passive investors need to look out for
33:15 - Bryce's perfect mobile home park looks like this!
34:18 - Bryce's opinion on rent increases and how much is too much
37:20 - Getting a hold of Bryce Robertson
37:47 - Conclusion
Links & Mentions from This Episode:
Invest Cultiv8: https://investcultiv8.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:
"I honestly think that the hardest thing-and you would know about this as well-is finding the right deals and getting the right deal upfront." - Bryce Robertson
"If you look at the whole societal system, I think we're due for basically a detox and a change in a lot of these systems." - Bryce Robertson
"Price inflation is taxation. Also, they could hit us with property tax increases, capital gains tax increases. Who knows?" - Bryce Robertson
"I think America's number one real estate problem is the need for affordable housing." - Bryce Robertson