Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Mike Nissley, founding member, Vice Chair and National Director of the Manufactured Housing & RV Group at Colliers.
With an estimated $100 billion in manufactured housing community sales, consulting, valuation, and financing under his belt, Mike Nissley brings a wealth of experience, including high-profile assignments for major MH industry players like Parkbridge, Keystone, Carlyle, Sun, RHP, ELS, Inspire, Yes! Communities, and CAPREIT.
Recently, Mike Nissley led the sale of a $200 million, 24-property Canadian manufactured home portfolio, marking the 2nd largest portfolio acquisition in Canada’s manufactured home and RV resort sector. He also successfully closed major deals in Florida, including a $114 million and $86 million mobile home community (MHC) portfolio in 2022 and 2023, respectively.
During the conversation, Andrew Keel and Mike Nissley dive into critical topics such as:
- Key steps for determining the value of mobile home parks
- Challenges and opportunities of park-owned mobile homes
- Mobile home park due diligence essentials
- How institutional investors evaluate mobile home parks
- Building a winning team in the mobile home park sector
Mike Nissley also shares his personal journey into mobile home park investing, offering actionable insights for both seasoned investors and those just starting out.
If you’re looking to deepen your knowledge of mobile home park investments, this episode is packed with expert tips and strategies to guide your success.
***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 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
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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 - Welcome to the Passive Mobile Home Park Investing Podcast
02:00 - Mike Nissley’s journey into Mobile Home Park Investing
08:06 - Building a Winning Team at Colliers
12:14 - How Institutional Investors View Mobile Home Parks
15:30 - Key Steps to Determine a Mobile Home Parks Value
21:06 - Institutional mobile home park Buyers and Park-Owned Homes (POH’s)
25:35 - Mike Nissley’s Most Challenging Deals and Major Hurdles in Mobile Home Park Investing
29:29 - Essential Due Diligence for Mobile Home Park Investments
32:23 - Why Beginners Should Avoid Park-Owned Homes
33:50 - Strategies for Passive Mobile Home Park Investing
35:50 - The Gold Standard in Mobile Home Park Investing
38:13 - Understanding Rent Control Regulations
42:44 - How to Reach Out to Mike Nissley for Expert Advice
43:27 - The Importance of Partnering with a Good Mobile Home Park Operator
43:51 - Conclusion
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Links & Mentions from This Episode:
Colliers: https://www.colliers.com/en
Colliers Manufactured Housing and RV Group: https://www.colliers.com/en/services/manufactured-housing
Mike’s email: Mike.Nissley@colliers.com
Mike’s phone number: (561) 479-1588
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:
“When you're advising a client, having that experience, it's not just a spreadsheet, it's a lot more than that.” - Mike Nissley
“We don't hear much about that, right? The global MH (Mobile Home Park) platform, that there are caravan parks and mobile home trailer parks in other countries.” - Andrew Keel
“Make sure you have a good (mobile home park) operator to partner with.” - Mike Nissley
Passive Mobile Home Park Investing 