Passive Mobile Home Park Investing Interview with Mobile Home Park Investment Sales Broker Maxwell Baker of The MHP Broker
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 Mobile Home Park Sales Broker Maxwell Baker of The MHP Broker
Maxwell Baker founded The MHP Broker in 2009, as a commercial real estate brokerage firm specializing in helping investors purchase and sell mobile home communities with a specialty in the Southeastern United States.
Maxwell has been a part of the management, rehabilitation, and sales of mobile homes parks since his family purchased their first trailer park in 2000. In today's episode, Maxwell Baker and Andrew Keel discuss the current mobile home park investment sales market, mobile home park investing during the 2009 recession, the real estate market during election years and the importance of finding the right partners when investing in mobile home parks.
Maxwell is passionate about the real estate industry, specifically the mobile home park asset class and he is well-versed in mobile home park market trends, the latest news, and mobile home park community affairs. Today he shares his wisdom with us.
***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:
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- Due diligence questions
- How to raise capital from investors
- Mistakes to avoid, and more!
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Talking Points:
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:44 - Maxwell Baker’s story and journey into the Mobile Home Park industry
07:43 - Max’s current Mobile Home Park investment portfolio
10:54 - Mobile Home Park investing during the 2009 recession
14:14 - The current Mobile Home Park investment sales market as of December 2023
20:51 - Election years in the real estate industry- 2024
23:53 - The toughest hurdle in mobile home park ownership and investing: In-house management and staff
25:20 - Finding the right business partners when investing in mobile home parks
28:08 - The management of variables: debt, park-owned mobile homes verses tenant owned homes, and county restrictions
31:48 - Connect with Max Baker, contact info
33:57 - Conclusion
Links & Mentions from This Episode:
The MHP Broker website: https://themhpbroker.com/
MHP Broker email: info@themhpbroker.com
MHP Broker phone number: 678-932-0200
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
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Quotes:
“If you don’t have your paperwork right, you ain’t got a deal.” - Maxwell Baker
“Every deal is different.” - Maxwell Baker
“We try to do a lot of upfront due diligence because surprises kill deals, problems don't.” - Maxwell Baker
“At the end of the day, we're always trying to look out for the seller.” - Maxwell Baker