About this episode
With 3,500 mobile home units under management, Andrew Keel is an expert at “forcing” value and “manufacturing” cash flow even from underperforming assets. He’s so dedicated to making each mobile home park investment work that he’s even lived on-site (with his family) to ensure value is being added from the second he closes. Through infill, diligent operations, and crucial fixed-rate debt, Andrew has been able to grow his portfolio at a time when many operators are forced to give up theirs. This wasn’t by luck, but by design, and Andrew’s advice can help any investor, whether investing in mobile home parks or other assets, add value, increase cash flow, and succeed in secondary and smaller markets. Andrew says two things can increase your cash flow, and three things can kill a deal quickly. If you get a few of these wrong, your NOI can evaporate, but thankfully, they’re not hard to spot.Passive investing in mobile home parks? Andrew tells you exactly what to look for in an operator to ensure they’ll be able to pull off what their pro forma plans call for. Insights from today’s episode:Two levers that can increase cash flow (significantly) on your next acquisition The right way to infill a mobile home park, and whether new homes or used homes are worth itInvesting in small secondary markets: The rules of thumb Andrew uses to gauge a market’s demand Three things that can kill a deal before it even starts (add to your due diligence checklist)Building your own in-house property management team and why it doesn’t need to be profitable to be worth it —Connect with Andrew on LinkedInInvest with Andrew and His TeamKeel Team YouTube Channel Recommended Resources:
