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 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 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 01:05 - 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

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 Mr. Travis Watts, director of Investor Education at Ashcroft Capital.  Travis Watts is a full-time investor, passive income advocate and public speaker. In his role as Head of Investor Education, Travis dedicates his time to educating hundreds of investors who are looking to be "hands-off" and passive when it comes to real estate investing. In this episode, Travis talks about what new passive investors (limited partner investors) should look out for when jumping into the Mobile Home Park asset class, what they can do to prepare and educate themselves for the world of passive real estate investing, and how to avoid one of the biggest pitfalls of all: “analysis paralysis.”  Travis loves the mobile home park asset class and believes that it is a great way to provide affordable housing to the masses.   ***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 01:20 - Travis’ story and his journey into passive investing and investor education 04:20 - Commit to trying out your first real estate syndication deal 07:30 - Scalability when you are a limited partner 10:36 - Venturing out into different/multiple locations and asset classes like mobile home parks 14:30 - Helping people with affordable housing solutions, mobile home parks investing 16:52 - Looking at the bigger picture, IRR potential and return on investment of your time 20:00 - The importance of doing your due diligence on the operator, general partners, deal sponsor or syndicator 21:59 - Vetting techniques for vetting real estate syndication deal sponsors 24:37 - Ashcroft Capital and getting in contact with Travis Watts 26:00 - Conclusion     Links & Mentions from This Episode:  Ashcroft Capital: https://ashcroftcapital.com/our-team/travis-watts/  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 reality is when you get to seven, eight, nine homes, this starts to become a full-time job (even with property managers) and, see, that's what caught me off guard.” - Travis Watts “Scale through syndications.” - Travis Watts “Most people don’t enjoy that landlord life.” - Andrew Keel “It doesn't really matter where I live because I'm taking advantage of great markets and people who specialize in those particular niches.” - Travis Watts

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 Franco Perez of Franco Mobile Homes.  Franco is a Forbes Featured Mobile Home Expert, Affordable Housing Influencer and Author, YouTuber and Manufactured Housing Innovator. He is on a mission to break the stereotype of mobile home ownership by showcasing the “green” energy efficient process of building mobile homes, along with the opportunities manufactured housing provides for low income families to build equity vs. renting. Franco Perez also discusses how affordable housing can uplift an entire community as he has seen in San Jose, California. With his YouTube channel, Franco Perez reaches the younger generation, showing them that owning your own home is feasible.  After years of dedication to his vision, Franco has established a devoted team to unlock the pathway to homeownership and help families establish financial security through mobile home ownership. Andrew and Franco discuss what they feel created the mobile home park stigma, the Mobile Home Park asset class in San Jose, the economics of the area, the importance of educating the younger generation and some of the pitfalls that new investors, owners, and manufactured housing developers may experience within the mobile home park industry.   ***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 01:50 - Franco Perez’s background and journey into the Mobile Home Park industry 06:31 - The gap between renting and what people can afford 10:19 - The importance of knowing the value of your mobile home 13:45 - The stigma of mobile home parks in San Jose, CA 16:45 - Environmentally friendly mobile home park building and green production 19:58 - The “Not In My Backyard” Mentality (NIMBY) 21:40 - The cumbersome process of renovating a manufactured home 24:13 - Appreciation and equity  25:00 - Entities that want to close down Mobile Home Park communities 28:12 - The Economics of the Area: Where is the money flowing? 30:25 - Getting past the stigma of mobile home parks by reaching out to younger generations 32:35 - Reaching out to Franco Perez, contact info 33:18 - Conclusion    Links & Mentions from This Episode:  Franco Mobile Homes: https://www.francomobilehomes.com/  Franco’s YouTube Channel: https://www.youtube.com/channel/UCgQ4otKTfwxGJkUqH-dGEYg  Franco Mobile Homes Instagram: https://www.instagram.com/sexymobilehomes/?hl=en  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:  “People don't have an excuse to go into a mobile home community unless you know somebody that lives there.” - Franco Perez “I use this analogy a lot, but cars were originally only built for the rich and wealthy and it was only until they built it on an assembly line in a streamlined way that we got cars accessible to everybody.” - Franco Perez “But because it's in an assembly line, in a process way, we can now optimize. How do we waste less material?” - Franco Perez “Our team does a good job of pushing the stigmas with the smart tech and all of that. So I'd love for you guys to be able to kind of see that firsthand.” - Franco Perez

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 Pasha Esfandiary of Evoke Capital.  Pasha comes from a very non-traditional background. At the age of 19 he started playing professional poker and by the age of 26, he decided that playing poker wasn’t the lifestyle he wanted. Pasha then started his career in residential real estate, flipping houses he found at auctions. Pasha has since been involved in over $250 million of real estate transactions across multiple asset types. These include residential homes, boutique motels and the purchasing and management of large multifamily properties. He is now solely focused on acquiring mobile home park investments with his new firm, Evoke Capital. Pasha’s journey from professional poker player to mobile home park investor has facilitated many lessons and strategies, he is now on the road to writing a book about it all. Today he shares with us many of those lessons, strategies and stories.   ***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 00:55 - Pasha Esfandiary’s path into mobile home park investing 05:24 - Pasha’s professional poker journey and how it’s helped him invest in mobile home parks  08:00 - The strategy for Pasha’s first mobile home park deal 09:50 - Pasha Esfandiary’s Current portfolio and rapid growth 10:52 - Being investor-forward and customer-forward 14:00 - Building a great team 15:00 - The evolution of Pasha’s approach 18:35 - The importance of your pro forma and underwriting 21:00 - Do the incentives align for each other? Investors and operators  22:47 - Asking a lot of questions will sniff out bad GP’s 24:35 - Pasha’s perfect mobile home park 25:20 - Learning from others and reading everything you can 26:33 - The three metrics that Pasha looks for in mobile home park investment deals 27:38 - A year into the future for the Mobile Home Park industry 30:24 - Pasha’s dud deal 31:50 - Nationwide rent control? 33:40 - Raising mobile home park rent, but also giving tenants value 34:45 - Reaching out to Pasha Esfandiary 35:19 - Focus on the velocity of capital 36:01 - Conclusion   Links & Mentions from This Episode:  Pasha’s email: pasha@evokecapital.net  Evoke Capital: https://www.evokecapital.net/ 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:  “Poker is a game of incomplete information. Everyone’s trying to lie to you. Everyone’s trying to bluff you. Everyone’s trying to tell you a different story.” -  Pasha Esfandiary “In real estate, you essentially can have 95 to 99 % of all the information when you're buying and deal with enough education.” -  Pasha Esfandiary “Previous success is an indicator of post -success, in my opinion.” -  Pasha Esfandiary “We keep our heads down and just ask, ‘Does this property work?’” -  Pasha Esfandiary

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 Abraham Anderson of Capital Communities. Abraham exploded onto the mobile home park investing scene after attending the Frank and Dave MHU mobile home park boot camp in 2019. Abraham was a top salesman for a national insurance company in a prior career and with those skills he has excelled through cold calling park owners. Within 4 years, Abraham has become a top 50 mobile home park owner with over 2,500 lots in 40 communities. Abraham Anderson owns mobile home parks across 6 states and he is also the host of the Capital Cashflow Podcast. Abraham shares with us his Mobile Home Park Investing strategy, how he managed to close his favorite mobile home park deal, why he only buys in red states, as well as his view on the future of the mobile home park asset class. Abraham and Andrew discuss which metrics to use in evaluating a mobile home park's performance, the importance of affordable housing and the increased demand for mobile home park communities.  He might be fairly new to the MHP industry, but Abraham Anderson has a wealth of knowledge to share 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 01:50 - Abraham Anderson’s story and mobile home park investing journey 06:00 - Abraham’s first mobile home park deal 08:41 - Abraham’s favorite trailer park investing deal: 358 spots 10:29 - His team and how they handle management 11:23 - His Mobile Home Park Investing strategy through the years 14:43 - Funding and sourcing mobile home park deals 15:30 - Playing the long game 17:48 - Changing people 20:09 - Investing in people and property 21:07 - Mobile Home Park Investing Metrics, WalMart, and affordable housing 23:22 - Location, location, location 24:14 - Mobile Home Park investing - Demand is on the rise 26:50 - Rental rate increases 32:00 - Buying mobile home parks in red states 35:37 - Reaching out to Abraham Anderson 36:15 - Getting over the fear 37:25 - Conclusion     Links & Mentions from This Episode:  Capital Cashflow: https://capitalcashflow.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 just have to get more creative and look at, ‘All right, well, this property here, what can I buy it for?’” - Abraham Anderson “My end goal with all of these is to get them into a Fannie Mae or Freddie Mac loan and they have a minimum size of about 50 lots.” - Abraham Anderson “Just keep your funnel full of deals.” - Abraham Anderson “There's still the stigma with mobile home parks, but that is going away. So if you can get into parks right now and you can buy a deal, you know, and it checks all the boxes and you're not overpaying, then it’s only gonna get better.” - Abraham Anderson

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 the extremely accomplished and knowledgeable Mobile Home Park Sales Broker Kris Wessel, Senior VP at NAI Martens. Kris Wessel has over twenty years of commercial real estate experience, with a particular emphasis in manufactured housing communities. He has been associated with Mobile Home Park community transactions dating back as far as 2008 and has cultivated a client list of more than 1,500 active buyers for the mobile home park real estate asset class throughout the midwest and southeastern United States. In today’s episode, Kris and Andrew discuss the history of the Mobile Home Park sales market and what has changed in the current 2023 market as of this recording. Kris shares with us the importance of due diligence, his take on the mobile home park investment market in the midwest, and why mobile home park operations can be the most difficult part of the industry.   ***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 01:39 - How Kris Wessel got into mobile home park investment sales 05:26 - Transaction volumes and the current trailer park sales market 13:09 - Cap rate changes in the Midwest 15:24 - Commercial bank debt terms 18:45 - The hair on the deal 20:32 - Big institutional buyers versus smaller MHP investors 22:03 - Planning ahead for the future 26:04 - Why mobile home park operations are so difficult 27:44 - Vetting potential mobile home park investment partners 31:26 - Evaluating the assumptions: raising LOT rent, infill, and sales models 35:20 - Good demand for affordable housing 38:52 - Underestimating the mobile home park industry 40:50 - Reaching out to Kris Wessel 41:30 - Due diligence on mobile home parks 41:53 - Conclusion     Links & Mentions from This Episode: NAI Martens - Manufactured Housing Communities: https://naimartens.com/mhc-3/ 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 demand for mobile home communities since that very first one has really been unabated and and really has grown.” - Kris Wessel “I guess the good news is that if we're getting mixed signals, then hopefully it isn't climbing way higher.” - Kris Wessel “We've seen people that got into the business and maybe underestimated the operation side.” - Kris Wessel “Do your diligence on the operator and their track record and if that's strong.” - Kris Wessel

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 the highly experienced cost segregation expert Eden Markowitz from Madison Specs, one of the largest cost segregation firms in the country with over 17 years of experience. In today's episode Eden and Andrew discuss why Mobile Home Parks are one of the best asset classes in commercial real estate for COST SEGREGATION! They do a deep dive into what cost segregation is, Why it is so important right now for Mobile Home Park investors and what the best ways to use it are in order to maximize your tax savings via accelerated depreciation. Tune in now to learn how you can maximize your tax savings via passive mobile home park investing!   ***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 01:34 - What is a cost segregation report? And when should you order one? 06:00 - Writing off CAPEX expenses 08:13 - Structural versus land improvements 10:50 - Bonus depreciation and the different parts of a mobile home park 14:00 - Tax savings 14:50 - Bonus depreciation phase out, 80% in 2023 16:00 - Flipping mobile home parks and the 25% depreciation recapture tax rate 17:45 - The 1031 Exchange 20:05 - The requirements for getting the real estate professional status (irs perspective) 21:09 - Getting a cost seg on a $200,000 purchase price? 22:06 - Are there additional audit risks with getting a cost seg report? 23:25 - Case Study for a property with a purchase price of a million dollars 27:35 - Goodwill allocation 31:00 - Quick calculation for cost segregation savings 32:00 - The importance of timeliness and documentation 33:22 - Depreciation against capital gains tax 36:34 - Educate yourself and spread the word on cost segregation and saving money on taxes 37:51 - Reaching out to Eden 38:00 - Conclusion   Links & Mentions from This Episode: LinkedIn: https://www.linkedin.com/in/eden-markowitz-11869982 Facebook: https://www.facebook.com/eden.markowitz/ Eden’s email: emarkowitz@medicinspecs.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: “Cost segregation basically is accelerating your depreciation.” - Eden Markowitz “So improvements are always great for cost seg studies. It's kind of a different way because we're not looking at existing structures. We're looking at your budgets and what you spend on it.” - Eden Markowitz “The bonus depreciation is really a big deal for mobile home parks.” - Andrew Keel “Just as a rule of thumb, probably somewhere between 400k and 600k tax deduction for that year if you purchase a park for a million bucks.” - Eden Markowitz

Kirby Horton, Co-CEO at The Firm and 16+ year manufactured housing operator, shares his journey from Navy and benefits work into large-scale infill and value-add park investing. He discusses scaling Lonnie deals into park ownership. He outlines team-building, managing high-volume home deliveries, navigating municipal resistance, and the nuts and bolts of massive infill operations.

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 an amazing guest in Mr. Tim Woodbridge. Tim Woodbridge purchased his first mobile home park in December of 2019 and since then he has grown a portfolio of 9 Mobile Home Parks totaling just under 300 lots. He specializes in value-add multifamily assets, most of which were distressed and in need of a total makeover. Tim, a former registered nurse for over 8 years, graduated from Northern Arizona University in 2012 with a BS in nursing, he was able to, within just 2 years, quit nursing and jump into mobile home park investing full time! A lot has changed in the last few years within the mobile home park investing space and Tim talks about the lessons he has learned during those formative years. He talks about how his mobile home park investing strategy has changed, as well as his view on the future of the mobile home park asset class. Tim focuses on helping educate those interested in investing in mobile home parks, and he reiterates the importance of keeping up to date with industry knowledge and trends. He also mentions that while you’re actively investing and operating within the mobile home park asset class, it’s important to keep an open mind on alternate ways of operating mobile home communities.   ***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. 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 01:40 - Tim’s journey into the world of mobile home park investing 06:33 - Getting educated in the mobile home park industry 11:57 - Adjusting your expectations of people 14:28 - How Tim’s strategy in mobile home park investing has changed over the years 17:08 - Mistakes you make when you’re too hungry for your first deal 21:00 - Due diligence in mobile home communities (especially with plumbing) 24:00 - Figuring things out the best you can and knowing when to ask for help 25:30 - Being open and honest 27:41 There’s no perfect mobile home park, but there are perfect on-site mobile home park managers 31:31 - Bringing in mobile homes (infill) and fixing mobile home park roads 34:18 - Being bullish on mobile home parks 37:00 - Government threats 39:41 - Getting in touch with Tim Woodbridge (mobile home park investor) 41:55 - The importance of networking 43:50 - Conclusion   Links & Mentions from This Episode: Tim’s Facebook: https://www.facebook.com/tim.woodbridge.54/ Tim’s Instagram: https://www.instagram.com/tim.woodbridge/?hl=en 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: “Naturally, I'm kind of like, how can I build rapport with someone? That's just how I am.” - Tim Woodbridge “You know what they say, get in the right rooms, get around the right people. And that’s so true.” - Tim Woodbridge “I grew up in creative real estate. So like, that's, that's interesting to me. Like creative deal structure, how can we make this a win-win?” - Tim Woodbridge “Things don’t happen as cheaply as you expect they would.” - Tim Woodbridge

Matthew Ricciardella, founder and CEO of Crystal View Capital with decades in real estate and $500M+ AUM, shares his rise from first park purchase to scaling funds and self-managing thousands of sites. He discusses value-add plays like submetering and repaving, infill strategies to fill vacant lots, operating pitfalls to avoid, sourcing and financing used homes, and buying in regulated blue states while building in-house management.