Passive Mobile Home Park Investing Interview with Andrew Keel of Keel Team Real Estate Investments
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 tells his story. Today Andrew is on the other side of the mic as he is interviewed by his current COO and business partner, John Squartino. On today's episode Andrew shares with us where his passion for mobile home parks started, his personal opinion on what to look for before investing with mobile home park operators and the hardest component of value add in a mobile home park investment. Andrew also shares some of the mistakes and lessons he has learned over the years he has invested in mobile home parks.
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 is also a father, husband and an entrepreneur who enjoys competing in Ironman triathlon events.
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
Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five - star review. I have a goal of hitting over 200 total 5 - star reviews by the end of 2022, 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 five - star review of the show.
Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
03:35 - Andrew’s journey into manufactured housing
08:00 - Andrew’s first park and how he built The Keel Team
10:30 - The toughest hurdle for most operators in the MHP ownership world
12:11 - The hardest value-add component
16:00 - How Andrew’s strategy has changed over the years
18:13 - The best opportunity or strategy right now for MHP investors
19:28 - The mistakes that Andrew has made and learned from
22:50 - The most important thing passive investors need to look out for
24:15 - Andrew’s perfect mobile home park
26:22 - The future of MHP investing
28:35 - The best way to reach out to Andrew
29:05 - Conclusion
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:
“I was astonished by the demand I had to buy these two mobile homes.” - Andrew
“I was hooked. I was like, ‘Wow, this is where it’s at. The demand is here.’” - Andrew
“Typically when we buy one, we put it on a five-year time horizon but with interest rates going up recently, we’ve just expedited that like crazy.” - Andrew
“Infill has got to be the toughest. It’s not super complex, but there’s just so many moving parts and you need to stay on it.” - Andrew