Passive Mobile Home Park Investing

A deep dive into the hidden risks of parks with small lot sizes and older homes. Short, narrow units that are hard to reoccupy or resell create sourcing and resale headaches. Zoning, replacement age rules, and tight setbacks raise legal and safety challenges. Expect discussion of life expectancy and why larger cash reserves or alternate opportunities may be preferable.

A deep dive into utility infrastructure risks for mobile home park investing. Short segments compare private systems like wells, septic, lagoons and treatment plants with public water and sewer. Listeners hear about lift station failures, aging Orangeburg pipes, cold-weather water issues, and practical due diligence checklist items to spot costly red flags.

A deep dive into the risks of investing in mobile home parks located in small, tertiary markets. Topics include low population and reduced demand, long commutes and limited amenities, and the challenge of selling homes in tiny towns. They also cover scarce contractors, higher infill and utility costs, and limited financing and transportation options.

Deep dive into the hidden risks of value-add infill mobile home park projects. Short discussions cover budgeting pitfalls, surprise infrastructure and concrete costs, transport and timing headaches, and cold-climate expenses. You’ll hear about skirting and underbelly issues, used versus new home tradeoffs, lot-sizing headaches, and the operational scale needed to avoid cashflow and execution failures.

A deep dive into the risks of converting park-owned mobile homes to tenant-owned units. Short explanations of turnover, rehab and vacancy dangers that can drain cash flow. Legal and licensing pitfalls from selling multiple homes are highlighted. Practical topics include marketing, financing rent-to-own structures, contractor challenges and screening to create more stable, long-term tenants.

Mike Nissley, founding member and National Director of Colliers Manufactured Housing & RV Group, brings decades of dealmaking and valuation experience. He discusses how institutions underwrite and evaluate parks. He covers park-owned home challenges, key due diligence priorities, and where the most attractive markets and risks lie.

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 the "king of cost segregation studies," Mr. Yonah Weiss of Madison Specs and Weiss Advice. As the Business Director at Madison SPECS, Yonah has been instrumental in saving clients hundreds of millions of dollars through strategic tax planning. He’s a highly respected figure in the commercial real estate (CRE) world and host of the popular Weiss Advice podcast. Together, Andrew Keel and Yonah Weiss explore the powerful impact of cost segregation through mobile home park investments. They dive into the intricacies of cost segregation studies, uncover common pitfalls, and track the evolution of bonus depreciation from 2020 to today. They also look ahead to what the future may hold for these essential tax-saving strategies. Throughout the episode, you’ll discover how to maximize your returns by effectively leveraging cost segregation and bonus depreciation, understand the best timing for these strategies, and learn when they might NOT be the optimal choice. Additionally, the conversation covers key topics like capital expenditures and the importance of diversification when building a resilient mobile home park investment portfolio. Don’t miss this chance to gain invaluable insights from Andrew Keel and Yonah Weiss that could transform your mobile home park investment approach. ***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 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 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. 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. We have a goal of hitting over 500 total 5-star reviews, and it would mean the absolute world to us if you could help contribute to that. Thanks ahead of time for making our day with your five-star review of the show. Would you like to see 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 00:40 - Yonah Weiss’ background 04:15 - 2017 Trump tax law 05:30 - What is cost segregation? 08:15 - How mobile home park investors and owners can use cost segregation. 12:45 - When does it NOT make sense to order a cost segregation study? 16:21 - Bonus depreciation in 2024 versus 2020 19:45 - Capital expenditures 21:11 - Allocating goodwill to reduce the amount of property tax on your mobile home park investment 22:57 - Depreciation recapture 25:15 - Scenarios where depreciation recapture could backfire 29:45 - What mobile home park investors should look out for in the future in terms of depreciation and new tax laws 31:00 - Contacting Yonah Weiss 31:16 - The importance of diversifying with mobile home park investments 32:21 - Conclusion SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ   Links & Mentions from This Episode: Yona Weiss, LinkedIn: https://www.linkedin.com/in/cost-segregation-yonah-weiss/ “How To Pay Zero Income Taxes (Legally) While Making 6-7 Figures”: https://themobilehomelawyer.com/podcast/ep-22-how-to-pay-zero-income-taxes-legally-while-making-6-7-figures/ 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: “It's, you know, think about it like an appraisal, but a very detailed one in using the IRS's, you know, kind of handbook, what's called the conservation audit techniques guide.” - Yonah Weiss   “I'm a huge fan of cost seg. We order one, you know, still on all of our new properties. And It's been great, I mean, the carry forward that we get is huge.” - Andrew Keel   “The bonus depreciation, when it came into law, had a phase-out component to it, which means that in 2023, if you bought a property, it was 80%. For 2024, we buy a property this year. It's a 60% bonus.” - Yonah Weiss   “Goodwill is something that’s very common when you’re talking about business acquisition.” - Yonah Weiss

They run through ten common due diligence pitfalls when buying mobile home parks. Topics include zoning and setback checks, surveying choices, and anticipating post-sale property tax jumps. They cover reviewing a full year of utility bills, ordering Phase I environmental inspections, and physically inspecting homes and park infrastructure. They also highlight title costs, utility company responsibilities, and scanning online reviews for red flags.

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 John Lindley, President of the Michigan Manufactured Housing Association. Since taking the helm as President and CEO of the 80-year-old Michigan Manufactured Housing, RV, and Campground Association in October 2021, John Lindley has become a leading advocate for the future of the manufactured housing industry. Before assuming his current role, John gained extensive experience as a lobbyist with Public Affairs Associates, one of Lansing’s most respected government relations firms, bringing that expertise to his leadership at the Michigan Manufactured Housing Association. In this episode, Andrew Keel and John Lindley dive deep into the crucial intersection of legislation and the mobile home park industry. John provides valuable insights on how mobile home park community owners can actively support Manufactured Housing Associations, emphasizing the importance of board involvement and not just donations. He also stresses the need for mobile home park owners to stay informed and to communicate effectively with legislators, using precise language to ensure their concerns are heard on key issues affecting mobile home park management. Tune in now to gain actionable strategies and expert insights from Andrew Keel and John Lindley, designed to help you succeed in the evolving mobile home park investing landscape! ***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 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 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 review. I have a goal of hitting over 500 total 5-star reviews, 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 review of the show. 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 0:30 - John Lindley’s journey to his current role as the head of the Michigan Manufactured Housing Association 03:38 - The Mobile Home Park Industry is under fire with legislative changes 05:36 - Providing value to mobile home park community owners 07:45 - Housing supply crisis in Michigan and how to assist with legislation changes 14:26 - What matters most to mobile home park community owners and operators 23:29 - Is now a good time to invest in Mobile Home Parks in Michigan? 25:30 - Diverse homes, poor communication, zoning, and how initiatives like “NIMBY”(Not In My Backyard) have made zoning even more restrictive for mobile home parks 28:56 - Reaching out to John Lindley of the Michigan Manufactured Housing Association 29:50 - Engage in your manufactured housing state association and be aware of what your state associations are doing on behalf of all mobile home park investors in that state 30:30 - Conclusion   SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL: https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ   Links & Mentions from This Episode: Michigan Manufactured Housing Association: https://www.michhome.org/ John Lindley’s contact number: 517-449-0487 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 started my career in the legislature as a staff member, a member of the State House Representatives, and have always been really a kind of a policy walk associated on, you know, focused on policy.” - John Lindley “We need everybody to be a member of the (Manufactured Housing) association.” - John Lindley “Engaging in the (Manufactured Housing) association's efforts is a particular use when it comes to [helping the effort].” - John Lindley “How could you talk about affordable housing and not mention manufactured housing, right? Like, it could be built for less than half the price of a site-built house and is more green as well. A lot of people forget that.” - Andrew Keel

Joe Fairless, co-founder of Ashcroft Capital and creator of the Best Ever Real Estate Show, shares lessons from 120+ limited partner investments and $2.7B AUM. He discusses passive vs active investing, tracking many LP positions, vetting operators, capital call questions, and a looming multifamily undersupply that could reshape housing and opportunity in mobile home parks.