Passive Mobile Home Park Investing Interview with the Trailer Park King, Jose Garcia
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 Jose Garcia, famously known as THE TRAILER PARK KING on Instagram, he is the best-selling author of 'Trailer Park King: How to Become the Next Mobile Home Millionaire.’
Jose is a successful mobile home investor, Lonnie dealer, coach and mentor who started out with single mobile home investments and has since done over 500 profitable mobile home flip transactions within the last 7 years. He currently covers the Southeastern United States and plans on expanding his Trailer Park King mobile home investing business nationwide.
In today’s episode, Jose Garcia shares with us his wealth of experience gained over his years investing in mobile homes. He talks to Andrew about his thoughts on the current and future state of the Mobile Home Park asset class. Jose also discusses what it’s like to start out as a Lonnie dealer and how it can assist you in your mobile home park investing strategy along with what new investors to the mobile home park asset class should focus on when they first start out on their passive mobile home park investing journey.
Jose’s goal is to coach everyday individuals step-by-step on how to profit from mobile home park investing, a recession resistant asset, so they too can have financial independence!
***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 2,500 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 deal review
- Due diligence questions
- How to raise capital from investors
- Mistakes to avoid, and more!
Click Here: https://intro.co/AndrewKeel
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Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:05 - Jose Garcia’s background
05:58 - Mobile home investing in the real estate space
07:08 - Responsibilities as a mobile home park investor
08:18 - Opportunity in the mobile home park asset class
10:00 - The evolution of Jose Garcia’s branding and marketing
12:18 - Responsibilities as a Mobile Home Park owner versus a Mobile home investor
14:23 - Your first Mobile home park deal
15:44 - Overpaying for mobile homes
17:00 - The tough aspects of older mobile homes
19:20 - Mobile homes as personal property
21:00 - Mobile Home Parks, a recession-resistant assets class
22:50 - Focus on the underground infrastructure first- mobile home park investing
25:17 - Starting out as a Lonnie Dealer - “deals on wheels”
27:03 - Screening tenants for the mobile home community
28:04 - Low cost of entry-high reward
30:00 - Removing mobile home parks
31:00 - Rolling up your sleeves and getting your hands dirty
31:40 - Reaching out to Jose Garcia
32:07 - Conclusion
Links & Mentions from This Episode:
Email Jose: j@garciamhu.com
GarciaMHU website: https://garciamobilehomeuniversity.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:
“How much money do you need to get into a mobile home investment?” I would say with $10,000, you should be able to acquire a mobile home, get a rehab out there and become a landlord.” - Jose Garcia
“When it comes to a (mobile home) park, you're talking (about) a whole bigger factor.” - Jose Garcia
“A more professional operator realizes that you're stepping over dollars to pick up a dime because (in order to get) the best financing available, you're going to have to have good records, good financial records.” - Andrew Keel
“It's almost like that roll of the eyes from any tax officer or any government [official] for that sense, even though they would all agree that they need more affordable housing. And that's what mobile homes are.” - Jose Garcia