Passive Mobile Home Park Investing Interview with Edwin Byler of Blue State Capital
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.
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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: edwin@bluestatecap.com
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