Passive Mobile Home Park Investing

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 interviews Roger King, founder of Kings Unlimited LLC. Roger King operates a multifaceted real estate portfolio exceeding $50 million in asset value, strategically spread out across 13 states throughout the United States. Notably, his main focus is on fixing up and investing in mobile home parks. In this episode, Andrew Keel and Roger King explore the importance of avoiding analysis paralysis and embracing calculated risks for substantial success in mobile home park investing. They discuss and emphasize the necessity of taking chances to achieve significant (above market average) returns. Additionally, they dive into their mobile home park investing deal criteria, with Andrew setting a threshold of above 50 lots and access to public utilities within 40 minutes of a metropolitan statistical area (MSA) and a population of at least 50,000. Roger, on the other hand, discusses his preference for properties at least hovering around 60% occupancy to ensure cash flow from day one. Roger King shares pearls of wisdom detailing his proven model and strategy for mobile home park investing, along with insights from his 27 year real estate investing journey. Through his experience, listeners will gain valuable insights into the actions that have propelled Roger to success in mobile home park investing, affording him the luxury of reaping rewards while unwinding on the beaches of Puerto Rico where he lives for the tax benefits(which they talk about) and lifestyle preference.   ***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 five-star 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 five-star 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 01:26 - Roger King’s journey into manufactured housing community investing 03:50 - Living in Puerto Rico and the tax benefits for real estate investors 09:20 - Roger King’s first mobile home park investment deal 13:00 - Finding the right people within the mobile home park asset class 16:38 - Getting mobile home park deals done while interest rates are high 21:44 - Roger’s current mobile home park investing criteria and mobile home park investing strategy 27:45 - Understanding what the ethics are of a mobile home park general partner 30:50 - Bite-sized mistakes made when investing in mobile home parks 32:36 - Roger’s perfect Mobile Home Park 33:00 - Interest rates will start to drop and mobile home park prices will increase?? 36:48 - The rough mobile home park communities are deteriorating 39:00 - Getting a hold of Roger King of Kings Unlimited LLC 40:31 - Get into this particular sector: mobile home park investments rock! 42:11 - Conclusion   Links & Mentions from This Episode: Roger King: https://www.rogerking.com/ Roger King’s FB page: https://www.facebook.com/rogerkingrealestate1 Roger King on Instagram: https://www.instagram.com/therealrogerking/ Connect with Roger on LinkedIn: https://www.linkedin.com/in/therealrogerking/?originalSubdomain=pr Check out Roger’s YouTube videos: https://www.youtube.com/@therealrogerking 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: “The toughest hurdle, I would say right now, and I believe it's changed, is if you're buying a (mobile home) park and your intention is to fix it up, reposition it, like the majority of our work is, are the contractors and pricing materials.” - Roger King “We're getting much more discerning with those experiences.  We've got a good (mobile home) park, we've had a not so good park, we've had some small parks, we've had some big parks.” - Roger King “Passive investing isn’t fully passive.” - Roger King “The specifics for the manager has to get ironed out on Day -10.” - Roger King “The onsite manager can make or break the deal.” - Andrew Keel

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 interviews Frank Rizzo, co-founder of Stone Capital Investors and the MHP Exchange. Frank Rizzo has over 20 years of experience in real estate as a broker, owner, and syndicator. For the past decade, he has been active within the Mobile Home Park asset class, acquiring and re-positioning over 20 mobile home park communities and over 1,500 lots. Frank has previously been elected to serve his local real estate board as director and later served as President of the Staten Island Board of Realtors. Frank Rizzo is also the host of the MHP Exchange Podcast. In this episode, Andrew Keel and Frank Rizzo delve into Frank’s distinctive business model within the Mobile Home Park realm, characterized by substantial VALUE-ADD components. Since embarking on this path in 2013, Frank has thrived in the mobile home park industry, crafting vibrant communities from trailer trash beginnings, cultivating a strong organizational culture, and ensuring the discovery and retention of ideal on-site managers. His journey in mobile home park investing has been rich with learning experiences and invaluable lessons, many of which he shares with listeners today.   ***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 five-star 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 five-star 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 00:50 - Frank Rizzo’s background and journey into the Mobile Home Park asset class 04:00 - Learning how to operate a mobile home park from a distance, remote management 06:08 - Frank Rizzo’s first mobile home park deal and buying Mobile Home Parks in 2013 09:15 - The importance of culture and maintaining mobile home park community rules 13:00 - Building roads and deep value-add situations within mobile home park investments 16:00 - Getting comfortable with the variables when investing in mobile home parks remotely 23:18 - Frank’s unique mobile home park investing model 27:00 - Quality mobile home park managers 31:00 - Lightning round questions 36:00 - Getting a hold of Frank Rizzo 37:40 - Look at your business plan- mobile home park investing 40:00 - Conclusion   Links & Mentions from This Episode: Stone Cap Investors: https://stonecapinv.com/ The MHP Exchange: https://themhpexchange.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: “I always tell people there are just two great days. Your favorite day is the day you close on a new deal. It's like you're super excited. The next best day is the day you're doing the roads.” - Frank Rizzo “We like to go in there knowing that we're adding value, and taking on projects that maybe a lot of other operators would shy away from.” - Frank Rizzo “If you do proper due diligence, you can avoid it. But with private utilities, you're opening up Pandora's box for all these things that could potentially go wrong.” - Andrew Keel “If they feel that attachment, they'll stay. If they don't feel that attachment, and are willing to, they will leave.” - Frank Rizzo

Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. We have some exciting news to share with you! Starting this month, we'll be re-releasing some of our most popular episodes. Our first re-release episode is this one featuring my interview with Brad Rymer, the Former CFO of RV Horizons. Brad Rymer is currently the Fund Manager, CIO and CFO at Haven Park Ventures, Inc. There were a lot of golden nuggets in this episode, including: The Most Common Mistakes Found in Mobile Home Park Financials! Brad Rymer shared the most valuable lessons he learned while he was the CFO of RV Horizons (The Frank Rolfe and Dave Reynolds mobile home park fund) and the lessons he learned about mobile home parks that all operators and investors should know. Brad also discussed his ideal business models for mobile home park investing, what data analytics to watch out for and tips for newbies getting into the manufactured housing community business. Brad Rymer is currently president and co-founder of Cloverleaf Capital Group, a mobile home park loan brokerage firm, based out of Denver Colorado, that specializes in loans under a million dollars. Before his current role, Brad served as the CFO of RV Horizons, where, in 2018, he also served as the company's Business Intelligence Officer, amongst other responsibilities. Brad received an MBA from Regis University and a BA in Fine Arts from Wabash College and began his real estate career with Marcus & Millichap in 2000 as a specialist in sales and marketing. Tune in for a treasure trove of knowledge as Brad Rymer unveils his secrets for successful mobile home park investing! 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 five-star 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 five-star 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: 01:20 - Welcome to the Passive Mobile Home Park Investing Podcast 03:15 - Brad Rymer’s journey into manufactured housing communities 06:27 - The most important things passive investors need to look out for when investing in mobile home parks 08:00 - Common mistakes on mobile home park financials that people should look out for 11:00 - The most valuable lessons Brad Rymer learned from his time as CFO at RV Horizons 13:05 - Lessons about mobile home parks which operators and investors should know 16:00 - Which models performed better over Brad’s time as CFO 23:00 - The analytics and data in mobile home parks 27:00 - The hurdles that the manufactured housing community industry faces moving forward 30:40 - What happened in the multi-family sector 32:44 - How a $15 minimum wage would affect the industry 34:55 - Brad’s perfect mobile home park 35:41 - The value proposition at Cloverleaf Capital Group 39:00 - Brad’s last tip for operators and investors 41:30 - Getting a hold of Brad Rymer 42:12 - Conclusion   Links & Mentions from This Episode: Haven Capital Ventures: https://www.havencapitalventures.com/ Cloverleaf, LinkedIn: https://www.linkedin.com/company/cloverleaf-cap ital-group/ Brad’s phone number at Cloverleaf: (303) 525-4850 Brad Rymer LinkedIn page: https://www.linkedin.com/in/bradprymer/ Brad’s email address: brad@cloverleafcapitalgroup.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: “Because they are passive investors, they're there hoping that their money gets turned into the returns that they've been seeking and beyond.” - Brad Rymer “We are getting into the era where mobile home communities are no longer one of those ‘children left behind,’ right? One of those ‘soldiers left behind.’ It is now in the forefront.” - Brad Rymer “I started to understand the mechanics of it and learned the basics, but I didn't know the true science of it until I joined with Dave and Frank.” - Brad Rymer “What other factors come into play to assess and analyze what a community can be worth, what you're buying it at, and what your strategy is gonna be down the road?” - Brad Rymer

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 interviews a previous guest on the show, Mr. Jeff Cook, the CEO of Cook Properties NY, the largest owner and operator of manufactured housing communities in New York state. Jeff Cook's career began as a project manager at a market research firm before venturing into real estate by acquiring multi-family properties in Rochester, NY starting in 1997. In 2008, he expanded into purchasing his first manufactured housing community. Since then, Cook Properties has experienced remarkable growth, boasting a mobile home park portfolio of over 100 communities comprising 7,000+ lots. In this episode, Andrew and Jeff Cook reconnect to explore Jeff’s recent endeavors since his last appearance on the show. They delve into his remarkable scaling strategies in today’s market and discuss the mobile home park industry’s future outlook. Jeff also shares his insightful approach to building a team from scratch, offering a wealth of knowledge for aspiring, emerging, and experienced passive mobile home park investors alike.   ***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 five-star 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 five-star 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 03:54 - Scaling a team and growing pains  06:54 - Finding the perfect Manufactured Housing community Acquisitions and Management team 08:50 - Mobile Home Park acquisitions and the growth of Cook Properties 11:24 - Mobile Home Park evictions and rent control in New York State  15:50 - Pivoting in the current Mobile Home Park market 18:30 - Staffing appropriately if you’re going to scale up in the mobile home park asset class 21:52 - Raising capital quickly 23:56 - How were mistakes addressed? 26:00 - Mobile Home Parks can cash flow well, if managed right 28:53 - Ground-up Mobile Home Park development 36:00 - Being good stewards of the Mobile Home Park Industry and making the right decisions  37:31 - Getting a hold of Jeff Cook of Cook Properties  38:02 - Conclusion   Links & Mentions from This Episode:  Jeffery’s email: jeffcook@cookproperties.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:  “I never cease to be amazed about some of the things that I see, not only in our parks, but with our own employees and with our team.” - Jeff Cook “Interest rates have definitely been difficult the past couple years.” - Jeff Cook “Check bank account statements to check the payout: is what's coming in what the seller says is coming in.” - Jeff Cook “Always over-raise, have an extra budget.” - Jeff Cook

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 interviews Zach Dixon from Green River Capital Partners. Zach Dixon bought his first rental property in 2017 and since then he and his wife, Rachel, have acquired 300+ mobile home park lots. In this episode, Zach and Andrew dive into many golden nuggets on mobile home park investing, including: the nuances of mobile home rehabs and point out that while manufactured homes may be simply built, it doesn't mean replacing mobile home parts is a simple process.  Zach talks about how starting small in mobile home park investing isn’t a bad thing, his theories on renovating mobile homes and why it is important to make sure that the numbers make sense.  Zach also shares with us what he feels is the most important aspect mobile home park owners should address in maintaining a mobile home.   ***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 five-star 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 five-star 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 01:15 - Small goals lead to big outcomes 04:43 - Tenancy, community, and maintenance in mobile home parks 07:40 - The struggle of financing smaller mobile home parks 09:30 - Putting mobile home park deals together  14:00 - Education in the mobile home park industry and mistakes made within due diligence processes 18:00 - Demand, mobile home park tenant base, and trust 24:45 - City utilities and city-maintained streets 25:40 - Do the numbers make sense to you? 28:00 - Renovation of mobile homes 31:00 - Reaching out to Zach Dixon 31:21 - Conclusion   Links & Mentions from This Episode:  Green River Capital Partners Instagram: https://www.instagram.com/greenrivercapital/?hl=en Zach Dixon’s business email: greenrivercapitalpartners@gmail.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:  “You get peace of mind and the true mailbox money, if you will, so there are tons of benefits in [passively] investing.” - Zach Dixon “I bought six parks myself this year that I syndicated, but I've also invested in five passively because I like to put the money to work. If I trust the operator and I like the deal, I like that (investing passively) because it's a lot of work.” - Andrew Keel “No matter what the market's doing, we just need the numbers to make sense to us and look at all the worst-case scenarios financially, and we'll still buy.” - Zach Dixon “Mobile homes are simply built but they have nuances to it.” - Andrew Keel

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 is joined by Scott MacNeil, Chairman and Chief Executive Officer of Performance Equity Partners, Inc. (PEP Lending), a chattel lender serving the manufactured housing industry across 16 different states.  In this episode, Andrew and Scott discuss Performance Equity Partners (PEP) in detail, from default rates and recourse guarantees, to the trends in the manufactured housing chattel lending industry.  Scott MacNeil and his team at Performance Equity Partners are experts in the chattel lending industry and they have processed over $160 million in MH chattel lending contracts. In addition, Scott has a keen interest and a wealth of knowledge in the passive mobile home park investing arena, which he shares with us today.   ***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 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 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 five-star 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 01:38 - Scott MacNeil’s journey into manufactured housing chattel lending 03:26 - How chattel lending has changed since 2007 06:00 - The approval rate of Performance Equity Partners (PEP lending) 09:50 - Why Performance Equity Partners might be a good choice for you 11:50 - Current rates and values on mobile homes 15:00 - Default rates and recourse guarantees 17:53 - The Performance Equity Partners process for qualifying new applicants 22:43 - Investment strategies: What’s your return? 24:00 - The mobile home park industry in the state of Illinois 26:00 - Reaching out to Scott MacNeil or  Performance Equity Partners (PEP Lending) 26:25 - Conclusion   Links & Mentions from This Episode:  PEP Lending website: https://peplending.com/  Scott MacNeil’s phone:708-253-6010 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:  “If you're going on evenly and moving along, maybe it's a two or three-year infill project, then you're playing the percentages and the averages should work out in everybody's favor.” - Scott MacNeil “We’re the absolute best solution for mobile home park-owned homes and selling off any sort of mobile home inventory you have in your community.” - Scott MacNeil “We don’t use appraisals. So mobile home park community owners can price the units however they like. The borrower just has to be able to afford to repay the loan based on the rate and terms.” - Scott MacNeil “We try to make it as easy as possible. Our loan officers are trained to chase as much paper as they can and do as much as they can, so the owners of the mobile home parks can leverage our people and not have to hire their own people.” - Scott MacNeil

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: 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 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 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 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   SUBSCRIBE TO PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ   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

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 reconnects with a previous guest on the show, Alex Donnolo of Mavdon Investments.  Alex Donnolo is the founder of Mavdon Investments, founded in 2019 and owns a $15 million portfolio of commercial real estate totaling over 600 units with a specialty in mobile home parks and RV parks. In this episode, Andrew and Alex discuss Alex’s unique strategies for investing in real estate, his in house property management team and how he acquires mobile home park investments. They also talk about infill, the benefits of tenant owned homes versus park owned homes and the metrics Alex uses when investing in a mobile home park.   With his background in commercial real estate and his keen eye for a good mobile home park investing deal, Alex shares with listeners why he feels smaller is sometimes better.   ***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 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 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 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 01:00 - Alex Donnolo’s background and journey into mobile home park and RV park investing 05:55 - Keeping everything as simple as possible 12:20 - Buying smaller mobile home park investments 19:25 - Properly inspecting mobile home park utilities 21:07 - How to replenish capital 22:45 - Mobile home park investors, taxes, and due diligence 27:18 - Alex’s perfect mobile home park 31:07 - Aging mobile homes and “grandfathered-in” mobile home parks 33:19 - Reaching out to Alex Donnolo 33:38 - Conclusion   Resources/Links: Alex’s website: https://www.alexdonnolo.com/ Alex’s instagram: https://www.instagram.com/alexdonnolo  SUBSCRIBE TO THE PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL         https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ     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:  “For me, it's easier to take sort of a small development or acquisition fee, like a $25 ,000 acquisition fee and do four deals a month or three deals a month kind of deal, then try and bank everything on one big project.” - Alex Donnolo “We've hit our exits on these and sometimes we just need to sell. Rather than refinance, we sell.” - Alex Donnolo “It's so easy to just pick up wholesaler wholesale deals work with those guys I get pocket list things from brokers.” - Alex Donnolo “The small amenities matter.” - Alex Donnolo

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 a special guest, Shawn Dwyer of Golden Oak REI.  Shawn Dwyer has 19 years experience as a tech executive for a Fortune Top 30 Corporation and owns an 87 lot mobile home park in Maryland, which he bought in September 2022. Although Shawn is fairly new to the Mobile Home Park industry, he offers a fresh and unique perspective. In this episode of the Passive Mobile Home Park Investing Podcast,  Shawn Dwyer and Andrew chat about the hurdles, lessons and experiences that Shawn has faced within his first mobile home park investment venture over the last year. Shawn also talks about how he missed out on his “Unicorn mobile home park property,” how he sourced and acquired his first mobile home park by partnering with an experienced operator, and what he thinks will happen to the Mobile Home Park asset class in the near future.    ***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 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 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 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 00:46 - Shawn Dwyer’s story and how he got into Mobile Home Park investing 03:51 - Leadership qualities needed for working in mobile home parks 06:37 - The acquisition of his 1st mobile home park investment 08:34 - Lessons learned from his first mobile home park and his future plans with Mobile Home Park investing  11:55 - Shawn’s mobile home park investing strategy 14:17 - Lessons learned in regards to mobile home park utilities 16:53 - Infill on vacant mobile home park lots and finding MHP contractors 19:53 - The affordability of housing and Mobile Homes as a solution? 23:03 - Funding equity & finding partners when investing in mobile home parks 25:27 - Tips for mobile home park syndication deals  26:43 - Unicorn properties, Shawn’s perfect mobile home park looks like this  29:34 - How large lot rent increases can hurt a mobile home park community 31:00 - The importance of staying educated in the mobile home park industry 32:30 - Reaching out to Shawn Dwyer (mobile home park investor) 32:47 - Conclusion   Links & Mentions from This Episode: Golden Oak REI: https://goldenoakrei.com/  “The Mobile Home Park Manifesto” by Glenn Esterson, The MHP Expert: https://www.themhpexpert.com/buy-the-book-the-mhp-manifesto/  “Trailer Cash: How To Cash in On the Low-Income Housing Investment Boom” by Jamie Smith: https://www.amazon.com/Trailer-Cash-Low-Income-Housing-Investment/dp/193524535X  Keel Team's official website: https://www.keelteam.com/   Andrew Keel's personal website: https://www.andrewkeel.com/   Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel   Passive Mobile Home Park Investing Podcast Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast  Passive mobile home park investing podcast Instagram page: https://www.instagram.com/passivemhpinvesting/  Twitter: @MHPinvestors    Quotes:  “For myself, it's looking for more of those stabilized deals with a little bit of value add capability, whether it be rent increases, utility bill backs, moving in some additional homes, doing some upgrades.” - Shawn Dwyer “We checked with water operators ahead of time, as well as the power company and the community in the area very infrequently loses power. So as of right now, there's not much risk.” - Shawn Dwyer “The affordability factor is real. Your service workers, where are they going to live?” - Shawn Dwyer “Know what the area looks like. Do your due diligence to understand what that area looks like for not only growth, jobs, but what sort of housing options are out there for folks.” - Shawn Dwyer

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 interviews one of America’s largest mobile home park operators, and one of his mentors in Mr. Jefferson Lilly from Park Avenue Partners. Jefferson is a mobile home park investing expert and educator. He is the General Partner at Park Avenue Partners and has acquired over 43 mobile home parks across 15 states since 2007, totaling over $81 million in asset value. Jefferson started the mobile home park industry’s first podcast and the largest group on LinkedIn dedicated to investing in mobile home parks. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business.  Jefferson was also a speaker at the SECO conference for mobile home park community owners, back in September and he had a couple of great sessions including one on valuing mobile home parks in 2023. Jefferson is back on the show after almost 3 years since our previous recording with him on episode #33 and in this episode Jefferson discusses with Andrew how his current mobile home park portfolio is performing, agency debt versus CMBS financing, and he shares a couple of golden nuggets, tips and advice, for new mobile home park investors.  We are fortunate to have Jefferson Lilly share his expertise with us on today's show!   ***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 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 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 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 01:06 - Introduction to Jefferson Lilly 02:09 - The rise in interest rates 04:38 - Assuming agency debt for a loan when purchasing a mobile home park 09:00 - CMBS vs agency debt 13:42 - Jefferson’s journey into the Mobile home park industry 16:02 - Jefferson’s current mobile home park portfolio 18:00 - Mobile Home Park team members and managers 23:55 - Due Diligence: Outreach and test ads 24:57 - Scaling and prioritizing for your mobile home park business 30:31 - Jefferson’s perfect mobile home park 32:17 - Resources for new mobile home park investors 33:35 - The Mobile Home Park Investors Podcast 34:50 - Mobile Home Parks and their recession resilience 37:46 - Do your homework and jump in 38:50 - Reaching out to Jefferson Lilly 39:56 - Conclusion     Links & Mentions from This Episode:  Park Avenue Investors: https://www.parkavenuepartners.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:  “So the agencies have standards. [laughs] We do always try and get agency debt. We've looked a little bit about trying to get the really cheap debt, which is direct from an insurance company.” - Jefferson Lilly “I guess mobile home parks are multifamily and would have, you know, stable site income. And if they're cheaper, I don't know, why wouldn't I buy one?” - Jefferson Lilly “I got into the business too late. When I did get into it, I took too long to scale up basically to start raising outside capital.” - Jefferson Lilly “At some point you do your homework and at some point you've got to just kind of jump in and make a decision again whether it's to buy a park or to invest in a fund.” - Jefferson Lilly