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 Dylan Stewart from Northstar Investors. Today Andrew and Dylan discuss how consistent messaging from management and proper maintenance in mobile home parks can lead to consistent distributions to investors. They also discuss the differences in quality on newer land-lease community assets versus older assets and how scaling too quickly can negatively impact mobile home park operations. Dylan is CEO of Northstar Investors, Northstar specializes in Mobile home park & RV Park investments in Texas & Ohio. Their current portfolio totals over 500 lots. After graduating from high school in 2017 Dylan dove right into single-family real estate investing, he completed many wholesale deals in his local market then pivoted in 2018 to run a virtual wholesaling operation primarily in St. Louis, MO. Since the spring of 2020, his company only focuses on finding, buying, and stabilizing value-add mobile home parks & RV parks.   ***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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 200 total 5-star reviews by the end of 2023, 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 00:41 - Dylan's history and journey into mobile home park investing 03:39 - Toughest hurdles in mobile home park investing 06:32 - How Dylan's MHP investing strategy has changed over the years 10:10 - RV park dynamic 13:20 - Financing for mobile home park and RV park hybrids 15:17 - Where Dylan sees opportunity right now 17:55 - Mistakes we can learn from 19:24 - What passive investors should know before investing in mobile home parks 21:24 - The future of mobile home park investing 24:27 - Getting a hold of Dylan 24:50 - Conclusion   Resources/Links: Northstar Investors: http://northstarinvestors.com/ Dylan's email: ds@northstarinvestors.com Dylan on LinkedIn: https://www.linkedin.com/in/dylan-stewart-812545130 Dylan on Facebook: https://www.facebook.com/dylan.stewart.906/ Dylan's previous episode: https://podcasts.apple.com/us/podcast/interview-with-dylan-stewart-and-alex-donnolo/id1520681893?i=1000524622355   SUBSCRIBE TO THE PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNELhttps://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: "We're trying to get and become specialists in the Texas market, specifically starting out in Dallas-Fort Worth." - Dylan Stewart "I think just the hardest thing is, of course, integrating everybody-the full team-when you look at the site managers, construction managers, contractors, our in-house regional managers, COOs, owners, and our virtual assistants." - Dylan Stewart "When you're trying to build a company, it's hard to scale without data and information." - Dylan Stewart "The biggest pivot that we're continuing to make is focusing on longer horizons to where we focus on buying better assets." - Dylan Stewart

Craig Schneider, managing partner at RYZE Communities who revitalizes underperforming mobile home, RV, and multifamily parks. He discusses why park-owned homes work at scale. He explains the importance of a strong maintenance team and local relationships. He talks about focusing geographically, financing choices, and why mobile homes hold up in down markets.

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 Gabe Petersen from Kaizen Properties. Gabe and Andrew discuss utility infrastructure in Gabe's 1st mobile home park and how Gabe got educated on due diligence within the mobile home park space. Gabe also shares what he would have done differently before buying a mobile home park and his take on how the impending recession will affect mobile home parks and self-storage. Gabe Petersen is the founder of Kaizen Properties and the host of The Real Estate Investing Club podcast. Gabe started his career as a management consultant for Fortune 500 companies in Seattle, Washington, he soon realized the corporate world did not fit the vision he had for his life. It wasn't until he bought his first broken-down triplex in Tacoma, Washington that he truly found his path in real estate. He now repositions commercial real estate across the United States - with a special focus on RV and Mobile home parks.   ***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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 200 total 5-star reviews by the end of 2023, 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 01:23 - How Gabe Petersen got started in real estate 04:18 - Gabe's first mobile home park purchase 08:48 - Gabe's current portfolio 10:42 - Education on mobile home parks and RV parks 12:40 - Gabe's move to Self-Storage 13:25 - The hardest part of the business 16:35 - Self-Storage versus Mobile Home Parks 21:56 - The most important things that passive investors need to look out for before investing in mobile home parks 27:49 - The impending recession and mobile home parks 29:07 - "Your tenant base is the most fragile" 31:15 - Gabe's perfect mobile home park 32:07 - Getting a hold of Gabe Petersen 32:26 - Conclusion   Links & Mentions from This Episode: The Real Estate Investing Club: https://www.therealestateinvestingclub.com/?r_done=1 Gabe's Email: gabe@therealestateinvestingclub.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: "[Self-education on MHPs] was really just looking online and reading about people who have gone through it." - Gabe Petersen "I really liked self storage just because it's very easy to automate, so I jumped in." - Gabe Petersen "I'm doing my first syndication with an 80,000 square foot self storage facility coming up here soon." - Gabe Petersen "The problem with self storage is, first of all, you have way more people than you do with mobile home parks." - Gabe Petersen

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 Derek Vickers from Vicktory Real Estate Group. Derek and Andrew discuss the most important aspects that limited partners and passive investors need to look out for when investing into mobile home parks passively. They also discuss how interest rates are changing investing strategies and how park owned homes are likely a higher risk than tenant owned homes during a tougher economy. Derek started his mobile home park investing journey with his first mobile home park purchase in September 2020 after 10 years in the insurance business as a sales manager. He currently owns and operates 2,000 lots across 38 different mobile home parks throughout the southeast, 23 of those being in Florida. Victory Real Estate Group specializes in turning around neglected mobile home parks by increasing occupancy, converting park owned homes to tenant owned mobile homes and reducing operating expenses. With a busy schedule Derek enjoys spending time with his wife and daughter and has another baby on the way!   ***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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 200 total 5-star reviews by the end of 2023, 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.   Talking Points: 00:21- Welcome to the Passive Mobile Home Park Investing Podcast 02:10- Derek's journey into manufactured housing communities 08:00- Balancing mobile home park management and sales when you're going through a lot of growth 10:40- Derek's first mobile home park deal 11:40- How Derek self-educated before cold calling mobile home parks 13:40- The toughest hurdle to overcome in mobile home park investing 18:04- Derek's current mobile home park investing strategy 21:10- How Derek converts parks from park-owned homes to tenant-owned homes 23:50- Smaller parks versus bigger parks: management and expense ratios 25:30- Mistakes that Derek made 28:30- The most important things that limited partners and passive investors need to look out for when investing into mobile home parks 29:49- Derek's perfect mobile home park 31:00- What the future of mobile home park investing looks like 33:24- Getting a hold of Derek 34:03- Conclusion   Links & Mentions from This Episode: Derek Vickers' email:derekvickers885@gmail.com Derek Vickers' instagram:https://www.instagram.com/derekvickers885/ Derek Vickers' twitter:https://twitter.com/derekvickers885?lang=en Derek Vickers' tiktok:https://www.tiktok.com/discover/derekvickers885 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: “That first park was probably like I learned on level 10 at level 1, so there was no gradient. It was just all in.” - Derek Vickers “I think people just underestimate the work involved and the things that are actually involved in this because the operations can be tough and I understand that.” - Derek Vickers “You need to get reliable and trustworthy people on your team.” - Derek Vickers “Make sure you're going through all of your due diligence checklist.” - Derek Vickers

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 Craig Napoliello of 40 Oaks Properties. Andrew and Craig discuss the benefits of geographical targeting when managing mobile home parks from an operational standpoint, monetizing park owned homes versus tenant owned homes, and the significant benefits of scalability when buying mobile home parks. Craig worked as a fixed-income trader for a large portion of his career and now works at a fintech firm. After he acknowledged his growing interest in real estate and dabbled in single-family home investments, he began his multi-family journey in the beginning of 2019. When he's not at his W-2 job, Craig loves to learn new ways to build generational wealth through mobile home parks and other investment real estate.   ***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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 100 total 5-star reviews by the end of 2021, 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 01:25 - Craig's journey into real estate investing 06:25 - Funding: raising money for deals or personal money 09:30 - Craig's first MHP deal in North Carolina 15:06 - The toughest hurdle to overcome in mobile home park investing 15:31 - Craig's management company 17:45 - Learning from mistakes in manufactured housing communities 19:20 - Tenant-owned homes, park-owned homes, and rent-to-own 24:30 - Changes in viewpoints from when Craig bought his first MHC portfolio 28:15 - Buying smaller mobile homeparks 31:48 - Important points passive investors should know about the mobile home park space 35:33 - Bringing over skills from Craig's W2 job. 37:32 - Getting a hold of Craig 37:52 - One final tip 39:15 - Conclusion     Links & Mentions from This Episode: Craig's email: craig@40oaks.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: "If I think that manufactured housing is a better vehicle for my investments, why am I not doing that?" - Craig Napoliello "If the opportunity is there, I should be doing everything in my power to bridge the gap financially." - Craig Napoliello "It was super important to them what was going to happen to the park and we made them feel comfortable about that. This gentleman was a little less worried about that, but I'd say that he wanted to be treated like the master of his domain." - Craig Napoliello "Like everything else during COVID and this inflationary period, the prices of used cars have gone up. We've seen things in our market." - Craig Napoliello

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 his business partner, John Squartino of Keel Team Real Estate Investments. Andrew and John discuss a few things including: park owned home sales within mobile home parks, rent collections protocols and the management of capital expenditure projects within mobile home parks. Andrew and John also talk about some of refinancing difficulties they have experienced this year during the FED's interest rate hikes, how value-add manufactured housing communities are their chosen investment strategy and what a perfect mobile home park looks like from a Chief Operating Officer's view point. Born and raised in Orlando, Florida John Attended the University of Central Florida graduating in 2013 with a Major in Marketing and a Minor in Sports Business Management. Upon graduation, John landed a job with a start-up sports technology company where he assisted in product development, marketing, and customer support. After four years of employment there a life-changing event occurred when he ran into a childhood friend; Andrew Keel. After a couple conversations revolving around mobile home parks, John decided to put a bow on the sports tech career and take this journey with Andrew in the mobile home park space. Fast forward 5 years, they have been able to acquire 34 mobile home communities and employ over 40 people across the world in their mobile home park property management company.   ***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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 200 total 5-star reviews by the end of 2022, 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.   Talking Points: 00:21 - Welcome to the Passive Mobile Home Park Investing Podcast 02:11- How John got into mobile home parks 04:36 - Frank and Dave MHU Bootcamp 05:31- Preconceptions about mobile home parks and the STIGMA 07:20 - Their first mobile home park 09:30 - The toughest hurdle for most operators in mobile home park ownership 10:37 - Comparisons of other asset classes: Apartments vs self storage vs mobile home parks 12:33 - Hardest value add component in mobile home park investing and the story of Norfolk MHC 18:12 - Best opportunity or strategy in the marketplace right now for mobile home park investing 21:18- Mistakes he has made in mobile home park investing 23:50 - Most important things that passive investors need to look out for when investing into mobile home parks 25:07 - John's perfect mobile home park 27:28 - The future of mobile home park investing according to John Squartino 29:11 - Getting a hold of John 00:00 - Conclusion 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: “I saw that you were selling mobile homes on your Facebook. I wasn’t sure if you were crazy or if you were crazy.” - John Squartino “I think one of the biggest hurdles has got to be just the managing of the property, property management as a whole.” - John Squartino  “Infill has got to be one of the hardest things, mainly because of there being so much red tape. Just because you do something in one community doesn't mean that you can do it that way in the next.” - John Squartino “You've got to be tenacious with it. The sense of urgency has got to be high.” - John Squartino

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 Miles Noland from Treeside Capital. Miles and Andrew discuss why mobile home parks are one of the best performing asset classes and the stability that mobile home park investments have previously provided during recessions. They also discuss the hurdles operators must overcome with on-site managers managing the mobile home parks and the important role the operations team plays to improve the income and expenses of mobile home park investments.Miles is a principal at Treeside capital and they invest in manufactured housing communities, RV parks, and self-storage facilities. They are based out of Cincinnati, OH and currently own and operate around 1,300 unitsworth around $33 million. Miles is also a former college baseball player and coach.   ***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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 valueand 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 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. Thanks ahead of time for making my day with your five-star review of the show.Would you like to see mobile home park CAPEX 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 Podcast01:21 - Miles’ story and how he got into manufactured housing05:44- Miles’ first MHP deal07:23 -The story behind Treeside Capital and their portfolio12:57 - The team at Treeside Capital15:30 - The toughest hurdle for operators in mobile home parks18:00 - The hardest value add component in mobile home park investments20:00- Infill in mobile home parks22:00- The best opportunity or strategy for mobile home park investing25:05- Mistakes to learn from27:47- What LP's need to look out for when investing in MHP's31:05 - Preparations for the future and possible recession32:43 - Getting a hold of Miles Noland33:22 - Conclusion   Links & Mentions from This Episode: Treeside Capital: https://treesidecapital.com/ Miles Noland, LinkedIn: https://www.linkedin.com/in/miles-noland-62a60a119/ 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 finally started doing some cold-calling and that’s when I got some traction.” - Miles Noland “I would say [of all the asset classes] mobile home parks are the most stable.” - Miles Noland  “That’s been one of the hardest things to do is build up a good team.” - Miles Noland “That’s one of my favorite questions, is just ‘Hey, can I get some advice?’ cause people want to help.” - Miles Noland

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 Andy Freeman from Enjoy Communities. Andrew and Andy discuss what passive investors should look out for before investing into mobile home parks. They also discuss how agency financing (Fannie Mae and Freddie Mac) and supplemental loans fit into the mobile home park model and the lessons that they have learned from managing mobile home parks in northern colder states. Andy Freeman is the founder of Enjoy Capital Group. Enjoy Capital is an emerging real estate private equity investment group with a growing portfolio of mobile home parks. They currently have over 300 lots under contract. Before this, Andy worked as the Vice President of acquisitions for Third IV Properties from 2020 - 2022 helping to facilitate the purchase of 10 mobile home parks in the midwest and actively participated as a member of the general partnership to help operate, enhance, and add value to these mobile home parks.   ***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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. Inorder 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. Thanks ahead of time for making my day with your five-star review of the show.   Talking Points: 00:21 - Welcome to the Passive Mobile Home Park Investing Podcast 01:30 - Andy's story and how he got into manufactured housing 04:22 - Partnering with others 05:05 - Mobile home parks in the midwest 06:21 - Enjoy Communities 08:00 - Utilities in mobile home parks 09:23 - The toughest hurdle for acquisitions 11:37 - Finding deals and cap rates for acquisition 15:30 - The hardest value-add component 17:53 - How Andy's strategy has changed over the years 19:20 - Mistakes to learn from 21:05 - Important things passive investors should look out for 24:55 - Tenant owned homes versus park owned homes 26:08 - Andy's team at Enjoy Communities 28:40 - Andy's perfect mobile home park 30:07 - The future of mobile home parks 00:00 - Getting a hold of Andy 00:00 - Conclusion    Links & Mentions from This Episode: Andy’s email: andy@enjoycommunities.com Enjoy Communities: http://www.enjoycommunities.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: “With Enjoy Communities, the whole goal was to acquire stabilized parks with a good tenant base and a good history of paying tenants. Especially in this current market, the whole goal is not to take on too many large value-add projects.” - Andy “Value-add just gets tossed around day in and day out. Bringing in homes is a challenge.” - Andy “At the beginning, I didn't necessarily look at the end game, which is the refinance.” - Andy “I don't know if I could have prepared for that or not, but just not knowing everything. You're going to make those mistakes and you learn by doing.” - Andy

Ryan Murdock, real estate investor and co-founder of Open Door Capital, built vertically integrated management for multifamily and mobile home parks. He discusses scaling from first acquisitions to 35+ parks. He covers why in-house property management matters, navigating today’s market opportunities, conservative underwriting, common sponsor red flags, and humane rent strategies.

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 tells his story. Today Andrew is on the other side of the mic as he is interviewed by his current COO and business partner, John Squartino. On today's episode Andrew shares with us where his passion for mobile home parks started, his personal opinion on what to look for before investing with mobile home park operators and the hardest component of value add in a mobile home park investment. Andrew also shares some of the mistakes and lessons he has learned over the years he has invested in mobile home parks. Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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 is also a father, husband and an entrepreneur who enjoys competing in Ironman triathlon events. 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 200 total 5 - star reviews by the end of 2022, 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. Talking Points: 00:21 - Welcome to the Passive Mobile Home Park Investing Podcast 03:35 - Andrew’s journey into manufactured housing 08:00 - Andrew’s first park and how he built The Keel Team 10:30 - The toughest hurdle for most operators in the MHP ownership world 12:11 - The hardest value-add component 16:00 - How Andrew’s strategy has changed over the years 18:13 - The best opportunity or strategy right now for MHP investors 19:28 - The mistakes that Andrew has made and learned from 22:50 - The most important thing passive investors need to look out for 24:15 - Andrew’s perfect mobile home park 26:22 - The future of MHP investing 28:35 - The best way to reach out to Andrew 29:05 - Conclusion 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: “I was astonished by the demand I had to buy these two mobile homes.” - Andrew “I was hooked. I was like, ‘Wow, this is where it’s at. The demand is here.’” - Andrew “Typically when we buy one, we put it on a five-year time horizon but with interest rates going up recently, we’ve just expedited that like crazy.” - Andrew “Infill has got to be the toughest. It’s not super complex, but there’s just so many moving parts and you need to stay on it.” - Andrew