Mobile home parks are an interesting branch of passive real estate investments, and today we have a fascinating conversation about finding success and profit in this sector with Andrew Keel, from Keel Team. The CEO and Founder of the company, Andrew has managed to build a great portfolio and business around a hands-on approach to mobile homes, and we get the inside scoop from him on what has enabled him to do this. Andrew kicks things off by talking about how and why he landed in this type of asset class, and the factors and talents that have contributed to his passion and progress. From there, we get into a little about his geographic choices, how his philosophy has grown and evolved, and some of his thoughts on the current state of the market. We also touch on property management ideas, financing tools, and much more, so tune in to hear it all!
Key Points From This Episode:
- How Andrew found his way into investing in mobile home parks.
- Andrew explains a little about the MHU and what they provide.
- The evolution of Andrew's investment and strategy.
- Andrew talks about the market, competition, and pricing over the last five years.
- How to go about building relationships and Andrew's approach with owners.
- The best value ad opportunities in Andrew's work.
- Low-hanging fruit that is not worth pursuing; Andrew talks about the hurdles he avoids.
- Andrew's best practices for property management.
- Financing and debt; Andrew talks about the typical practices at Keel Team.
- The hold strategy that Andrew and his team prefer.
- How the economic environment is impacting equity right now.
- The story of Andrew's third mobile home park and a close call with some gifted chili!
- How Andrew's experiences with Iron Man have improved his determination in business.
- The best place to find and connect with Andrew online!
Links Mentioned in Today’s Episode:
The Passive Mobile Home Park Investing Podcast
Passive Income Through Multifamily Real Estate Facebook Group
