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 Jim Glasgow of Palace Way Management. Jim and Andrew have a great discussion about various topics including: property zoning needs for manufactured housing, different housing types and the need for affordability, ground up development processes, budgeting within a ground up mobile home park development and also what backlogs and supply chain constraints there are in the current construction market and how this is effecting real estate. Jim has over a decade of experience in real estate investing and syndication. He also has experience on the corporate side as an executive and business owner. His experience in real estate includes residential properties, mobile home park investing, commercial real estate properties, land, real estate development, and construction. He is a general partner at Palace Way Management and Palace Way Syndicates and is currently developing mobile home parks and industrial business parks in Texas.   ***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   Talking Points: 00:21 - Welcome to the Passive Mobile Home Park Investing Podcast 01:40 - Jim's journey into real estate and an overview of his portfolio 07:41 - Jim's process to developing the numbers for his ground up development budget 10:10 - The types of housing Jim prefers on his mobile home park lots 14:22 - Market study and analysis 16:25 - Jim's partners 17:20 - The contract process 18:47 - Important advice for limited partners or passive investors in mobile home parks 21:23 - Zoning restrictions 26:23 - Getting a good rate of return 30:00 - The origin of Jim's startup money 32:30 - How long will the backlogs last 35:08 - Reaching out to Jim Glasgow 35:52 - Conclusion    Links & Mentions from This Episode: Jim's email: edwardjim59@yahoo.com Palace Way Management: https://palaceway.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: "[Larger deals and ground up developing mobile home parks] really need to be a hundred units or higher to make the numbers work, and 250-500 is the sweet spot for development and because of the cost of development." - Jim Glasgow "The cost of the home, single wides are going to vary from installed with skirting tied down, with a storage room in the backyard, front porch, back porch, two car parking space and we're looking at about $60,000-$80,000 on a single and we're looking to from $70,000-$110,000 on a double." - Jim Glasgow "It's rapidly becoming the in-thing to do and it's going to be happening all over the United States. Over the next five years, you're going to see a lot of new mobile home park developments." - Jim Glasgow "When you're buying into a development, you're buying the wholesale. You're not paying retail." - Jim Glasgow

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 MHP legend Mike Conlon. Mike is currently leading Affordable Communities Group, also known as ACG, with his vast knowledge of the manufactured housing industry having been in it for over 15 years. Andrew and Mike discuss the future of the mobile home park industry and how it will fare with our potentially rocky economy. Mike also answers Andrew's questions about property managers, mobile home park investments versus apartment investments, and mobile home park value-add components. Mike Conlon is President and CEO of Affordable Communities Group, LLC who currently owns 44 mobile home communities and RV parks with approximately 6,200 spaces in 6 states. Mike is also the author of "Unconventional Wealth: How to Become A Main Street Millionaire Helping Others Get What They Need."   ***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 2,100 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 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 01:32 - Mike's story and his journey into Mobile Home Park investing 05:58 - The toughest hurdle for most operators in Mobile Home Park ownership 08:36 - Big differentials between apartments and Mobile Home Parks 09:45 - How Mike educated himself on Mobile Home Parks and good advice 16:20 - The most difficult value-add in Mobile Home Parks 18:42 - Mike's team at Affordable Communities Group, LLC 20:54 - How to find and keep good on site managers 22:54 - The toughest hurdle for operators in Mobile Home Parks right now 25:40 - The future of Mobile Home Park investing and how they fit in with the direction of the economy 33:00 - Recent negative press with big groups in mobile home parks 37:52 - The investment fund model vs. syndications 40:23 - Mike's perfect Mobile Home Park and why 43:19 - Mike's opinion about third party property management 44:37 - Connecting with Mike Conlon 45:15 - One last tip 46:06 - Conclusion       Links & Mentions from This Episode: Mike's email: mconlon1@gmail.com Affortable Communties Group website: https://acgmhc.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 got some guidelines now, but I think the toughest thing is just not to have paralysis by analysis where you're just too afraid to jump in." - Mike Conlon  "You just got to go do it now." - Mike Conlon "I think right now, if you're younger and newer in the business, you're going to make your money from the value add deals because everything is expensive." - Mike Conlon "Get good people, treat them well and overpay them what they can get anywhere else." - Mike Conlon

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 Victor Alves of Vecno Capital. Victor shares his thoughts on why paying attention to the small details in regards to mobile home park property management is super important. Andrew and Victor also discuss the most important things they think passive investors need to look out for when investing into mobile home parks. Victor shares why budgeting out repairs ahead of time are important in the real estate industry and specifically mobile home park investing. Victor and his wife Nina Alves are real estate entrepreneurs. Together, they founded Vecno Capital which is a vertically integrated real estate investment company. They have experience in managing and acquiring investment properties such as multi-family apartments, manufactured housing communities and single family homes.   ***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 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 01:27 - Victor’s history and journey into the mobile home park industry 03:12 - His first mobile home park related education 04:20 - Victor’s portfolio 05:25 - The toughest hurdle 06:26 - Execution and filling in vacant lots 07:15 - Victor’s process of finding used mobile homes 08:41 - Vecno Capital operations/ property management 10:10 - Finding MHP deals 11:00 - Comparing single family rentals to mobile home parks 12:52 - The most important things passive investors need to look out for 14:20 - Utilities: public versus private 15:37 - Victor’s perfect mobile home park 16:54 - Mistakes to learn from 21:39 - The future of the mobile home park industry (in the next five to ten years) 23:00 - What makes Vecno Capital different 24:21 - Conclusion   Links & Mentions from This Episode:  Vecno Capital: https://vecnocapital.com/ Victor Alves, LinkedIn: https://www.linkedin.com/in/victoracalves/ 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 do multifamily as well because I love that asset class, but my focus and heart is in mobile home parks.” - Victor Alves “Like with most people, the toughest part is infill.” - Victor Alves “Depending on the age, you’ll see a lot of maintenance. ‘Cause when you’re a new owner, you want everything fixed.” - Victor Alves “You have to learn how to be flexible but at the same time, don’t let it slide too much so it doesn’t become a habit.” - Victor Alves “Understand the asset. Understand the location. What’s the driver? What’s driving the economy in those cities?” - Victor Alves, on what passive investors need to know

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 Steven Blank of Blank Family Communities. Steven shares his perspective on the future of the mobile home park industry, and the lessons he has learned through growing up in the mobile home park industry. Steven and Andrew have a great discussion on mobile home parks and how to be successful as a passive investor in the space. Steven started in the mobile home park industry at the age of 15, working on a maintenance crew at Franklin Companies. In 2011, Steven stepped into the corporate side and learned the ins and outs of the mobile home park industry from his family’s mobile home park portfolio. He then proceeded to help grow two of the fastest growing MHP operators in the country and was involved in over 80 mobile home communities’ acquisitions and sales. He founded Blank Family Communities in 2019.   ***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   Talking Points: 00:21 - Welcome to the Passive Mobile Home Park Investing Podcast 01:21 - Steven’s story 03:43 - The toughest hurdle 05:24 - Managing the infill process 07:25 - Finding Grade-A quality, insured vendors 08:20 - Sourcing new homes 10:41 - Third-party property management for mobile home parks 12:30 - Community size 13:38 - Things that give third parties a bad rep 18:59 - The most important things passive investors need to look out for 22:04 - “[MHP] isn’t recession proof.” 24:22 - Some of the bigger mistakes Steven has seen 26:02 - The future of the MHP business 29:15 - Blank Family Communities 30:35 - One last tip 31:31 - Conclusion   Links & Mentions from This Episode: Blank Family Communities: https://blankfamilycommunities.com/ Steven Blank, LinkedIn: https://www.linkedin.com/in/steven-blank-66b4a674/ 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 issue that I came into contact with that I think a lot of people do, especially as they're growing their portfolio is, you see a deal that makes sense on its own, so therefore, you want to pursue it.” - Steven Blank  “Ordering the right house for your market is key because if I over-order a house that the market's not going to support, it's not going to be a profitable venture for me.” - Steven Blank “We're sourcing more used homes than we used to. Finding just a transport company is extremely difficult because they can still get work wherever they want.” - Steven Blank “Understand that the business model that you're investing in and then understanding that some of the things that MH is being hailed as are really not true.” - Steven Blank “When an economy suffers, our tenants suffer first.” - Steven Blank

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 Chad Freeman from MHPinvestors. Chad has a unique perspective on the manufactured housing industry and the real estate businesses as a whole. He shares his insights on the future of the mobile home park industry, mobile home park investing, and the lessons he has learned throughout his time investing in real estate. Chad and Andrew discuss the hurdles the industry could potentially face, as well as the perks during recessionary times. Chad has been a part of the real estate industry since 2005. He made the jump from residential real estate to commercial real estate and has overseen all aspects of a business. Chad, is a pilot currently and also is taking the lead in scaling his company MHPinvestors to new heights with his co-founder.   ***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   Talking Points: 00:21 - Welcome to the Passive Mobile Home Park Investing Podcast 01:21 - Chad’s story and journey into manufactured housing 05:50 - Chad’s first mobile home park and his current portfolio 11:11 - The toughest hurdle in the mobile home park business for Chad 12:17 - Managing mobile home parks 13:00 - What to look out for when investing in mobile home parks (most important) 14:56 - Chad’s perfect mobile home park 16:50 - Submetering and infill value add 17:54 - Financing new manufactured homes 18:35 - Mistakes that Chad has learned from 21:17 - The cost to infill a used home versus a new mobile home     Links & Mentions from This Episode:  MPH Investors: https://mhpinvestors.com/ Chad Freeman, LinkedIn: https://www.linkedin.com/in/chad-freeman-90967411a/ Google Voice number: 702-706-6904 Chad Freeman, email: info@mhpinvestors.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 had no clue what I was doing. I didn't even know what due diligence meant. I bought this place in Elizabeth Seaport, which you don't want to buy a place there, I'll just say that.” - Chad Freeman “When you purchase the correct property, I think it's hands down the best investment you can make anywhere in real estate today.” - Chad Freeman “We had people telling us on the phone, do you guys have any idea how hard it is to break into this business when you don't want any properties? I just took it as a challenge and made it happen.” - Chad Freeman “Do some research on who you're dealing with.” - Chad Freeman  

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 Dan Gibson from 43 Properties. Dan answers Andrew's questions with a unique perspective, as he is someone who stumbled accidently into mobile home park investing. Dan is based out of St. Louis, MO and he along with his brother and father have learned a great deal from owning mobile home parks. Dan emphasizes the importance of keeping good documentation so it's easier when you sell, he also recommends sticking to the basics. In this episode Dan shares his tips for passive investors who want to invest passively as limited partners into the mobile home park asset class via syndications. Dan is passionate about helping people and doing a great job and it shows through his enthusiasm and expertise. Dan has been investing in real estate for over 12 years now and is the CEO of his commercial real estate investment company based in St. Louis, MO. His company 43 Properties specializes in mobile home parks and self storage investments. He started the business with his Dad and brother and grew their company's portfolio to over $50 Million in assets under management.   ***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   Talking Points: 00:21 - Welcome to the Passive Mobile Home Park Investing Podcast 01:26 - How Dan Gibson got into mobile home parks 04:30 - Dan’s portfolio 07:22 - The toughest hurdle for Dan in the mobile home park business 09:17 - Exiting MHP's with park-owned mobile homes 12:30 - The most important things passive investors need to look out for when investing into mobile home parks 14:13 - Public and private utilities 16:45 - Dan’s perfect mobile home park 22:06 - Mistakes that Dan has made 28:48 - Where is the mobile home park industry headed 32:00 - Inflation and the economy 35:03 - What makes 43 Properties different from everyone else 38:20 - Getting a hold of Dan 39:31 - Conclusion    Links & Mentions from This Episode:  Dan’s email: dan@43holdings.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:  “We tried to lease-to-own as many park-owned homes as we could.” - Dan Gibson  “In terms of other items that come to mind when I think of that, for a passive investor it would be management. No matter what kind of asset class, it’s always going to be number one to focus on.” - Dan Gibson  “I think you'll also be surprised, too, at how many really good people live there. They just live on a budget and that’s what they can afford.” - Dan Gibson  “That’s the magic. It’s easy to talk numbers and get excited about, you made this or made that, but you are changing people’s lives when you come in and improve the community.” - Dan Gibson “Now that I’ve gone through the back end on an exit, I thought we had good documentation. We were maybe 50% or 60% of where we needed to be. And I thought we really were on top of that kind of stuff. So don’t be lax on that.” - Dan Gibson 

Nick Najjar, founder of Elephant Capital Partners and mobile home park operator in MO and IL, shares his path from first park purchase to building systems for scaling operations. He discusses deal sourcing through off-market outreach, in-house management structures, value-add rehab challenges, and key due diligence checks for passive investors. Practical and forward-looking conversation on MHP resilience and expansion.

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 Justin Donald. Justin is the author of “The Lifestyle Investor”, a book discussing non-traditional ways investors can create the lifestyle they want through cash flow investing. Today, Andrew and Justin discuss mobile home park investing in-depth. In this episode, the guys discuss what passive investors should look out for when investing into their first mobile home park. Justin Donald shares a few of his stories from his first mobile home park investment and what he has learned since in this alternative commercial real estate asset class. Justin Donald’s ethos is to create wealth without creating a job. Tune in for several golden nuggets and don’t forget to pickup a copy of “The Lifestyle Investor” book 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 2,000 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.   Talking Points: 00:21 - Welcome to the Passive Mobile Home Park Investing Podcast 02:16 - How Justin started investing 05:45 - Justin’s first few mobile home parks 15:30 - Mistakes we can learn from 17:57 - The most important things that LPs need to look out for when investing in MHPs 21:36 - Justin’s perfect mobile home park 23:55 - How Justin implements his philosophy into investing 29:15 - The future of the mobile home park industry 31:40 - Getting a hold of Justin 33:32 - How Justin stays up to date on investment strategies 35:22 - Conclusion     Links & Mentions from This Episode: Justin Donald Website: https://justindonald.com/ A free copy of the book: lifestyleinvestorbook.com Love Justice International: https://www.lovejustice.ngo/ “The Lifestyle Investor: The 10 Commandments of Cash Flow Investing for Passive Income and Financial Freedom” by Justin Donald (proceeds go to Love Justice International): https://www.amazon.com/Lifestyle-Investor-Commandments-InvestingFinancial/dp/1636800122 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/PassiveMHPin... Andrew Keel Instagram page: https://www.instagram.com/passivemhpi... Twitter: @MHPinvestors    Quotes:  “I remember having some sleepless nights. Like, ‘What am I thinking? This is– You’re just going to put $65,000 into a mobile home park? I mean, come on!’” - Justin Donald, on his internal battles during his first MHP “My first mobile home park wasn’t very pleasing to the eye but I just knew it was the right thing.” - Justin Donald “I just followed a playlist that worked and it worked.” - Justin Donald “I love mobile home parks. I still think that it’s the best investment in real estate.” - Justin Donald 

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 Glenn Esterson, one of the leading brokers in the mobile home park industry. Glenn has over 20 years of experience as a real estate broker and in this episode he gives us his advice for limited partner investors getting started in the mobile home park space. Glenn and Andrew also discuss the current state of the mobile home industry given the recent woes in the economy with inflation and all. Glenn is the author of the Mobile Home Park Manifesto and is currently a Marcus and Millichap commercial real estate broker with a speciality in manufactured housing.   ***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 - Glenn’s story and journey into manufactured housing 10:00 - Putting your improvements up front 12:15 - The toughest hurdle for most operators in the mobile home park business 15:14 - What operators overlook and not account for in their pro formas 17:30 - Things that get overlooked in underwriting 19:41 - Common expense ratios 22:00 - Important things passive investors need to look out for when investing in mobile home parks 26:00 - Glenn’s perfect mobile home park 28:17 - The future of mobile home parks 33:40 - The current state of the mobile home park industry 39:34 - Getting a hold of Glenn 40:23 - Glenn’s top tip 41:30 - Conclusion   Links & Mentions from This Episode: The Mobile Home Park Manifesto: Ethical and profitable investing in non-institutional grade land lease communities, by Glenn Esterson The MHP Expert Website: https://www.themhpexpert.com/ Glenn’s cell number: 423-483-0492 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/PassiveMHPin... Andrew Keel Instagram page: https://www.instagram.com/passivemhpi... Twitter: @MHPinvestors   Quotes: “Put your improvements in upfront. Raise your money upfront for the roads, for the landscape, for the septics that need to get repaired.” - Glenn Esterson “There's a way for everybody to accomplish their financial goals without it just being stuffing it down the poor guy's throat.” - Glenn Esterson “If I was an MH investor, I would be very, very cautious about who I'm giving my money to. There are a lot of new groups coming in promising some big stuff and they haven't been through a down cycle yet.” - Glenn Esterson  “Robotics and AI are going to change the future for us. For better or worse, you're going to have to learn how to accommodate that.” - Glenn Esterson “Buyers, when they price things, they're always looking backward or they're trying to convince the seller and the broker that, hey, nothing in this area sold for that number, and your rents are blah, blah, blah. But as a broker, we're always looking forward.” - Glenn Esterson

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 Denis Shapiro of SIH Capital Group. Denis has a unique background that has enabled him to build the skills necessary to be successful throughout his investing career. Today, Denis shares his background and previous experiences with Passive Mobile Home Park Investing Podcast listeners. On this episode Denis Shapiro offers advice to limited partner investors as he discusses his thoughts on the economic future of the mobile home park industry, inflation and interest rates in the United States. Denis began investing in real estate in 2012 when the market was just beginning to recover from the global financial crisis. He built a cash flowing portfolio with alternative assets such as notes, ATMs, mobile home parks,  tech startups, and commercial properties. He co-founded an investment club for accredited investors in 2019. Following the success of his investor club, he launched SIH Capital Group. SIH provides accredited investors with a simplified strategy to invest for passive income.    ***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   Talking Points: 00:21 - Welcome to the Passive Mobile Home Park Investing Podcast 01:32 - Denis Shapiro's background and journey 05:33 - Investing in a fund of fund with many different syndicators 08:10 - Buying a JV deal with someone he heard on a podcast 09:50 - Out-of-state trailer park operators 13:15 - Is a mobile home park fund a good option for passive investors? 14:45 - The process of starting your own accredited investor group 20:32 – General Partner and Limited Partner splits 22:24 - Inflation and the state of the economy in the United States 24:17 - Interest rates in the next five years 25:38 - The most important things Limited Partners need to look out for when investing in mobile home parks 27:56 - Questions to ask operators to qualify if they're going to be a good operator 29:00 - Denis’ perfect mobile home park 29:15 - SIH Capital Group 29:56 - Getting a hold of Denis 31:11 - Conclusion   Links & Mentions from This Episode:  SIH Capital Group: https://sihcapitalgroup.com/ The Alternative Investment Almanac: Expert Insights on Building Personal Wealth in NonTraditional Ways, by Denis Shapiro 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/PassiveMHPin... Andrew Keel Instagram page: https://www.instagram.com/passivemhpi... Twitter: @MHPinvestors   Quotes:  “They had nothing but great things to say. I think at the end of the day, the most important thing is that reputation.” - Denis Shapiro  “If you're not willing to network when you're investing in private securities, you probably are gambling more than you should be.” - Denis Shapiro  “Learning that language is super, supercritical. Once you actually get to the conferences, network with a few people. And then this is the key. After the event, don't just say, hey, let's stay in touch. Say, hey, we're in December, how's January 5th?” - Denis Shapiro “I find that operators respond to you the quickest before you send the money in. I remember so many operators I've removed from my list because I would look at their debt.” - Denis Shapiro