Business
Today I had the pleasure of speaking with Mobile Home Park investor and founder of the Keel Team, Andrew Keel. Andrew Keel is an Augustana University graduate who began as a Sales Manager then moved into the Real Estate Market in 2015. He then realized he needed something that could give a stable monthly cash flow. That’s when he found the magic of Mobile Home Parks. Andrew joins us today to talk about the value of this unique and growing asset class. Let’s jump into Andrew Keel’s story so you can start getting some quality knowledge on this field and the kind of strategies you will need to navigate it. Things you will learn in this episode: [00:01 - 08:05] Opening Segment Introducing the topic of "Knowledge" I welcome our guest, Andrew Keel, to the show Andrew tells his story about how he went from flipping houses to owning parks He started out as a sales rep for a marketing company meeting people in the real estate field Eventually left his job and started flipping houses Andrew talks about how he got a deal on his first mobile homes Andrew talks about going from owning Mobile Homes to wanting to buy a Mobile Park and its value [08:05 - 13:10] Insight into the Mobile Homes Market Allocating your first property Andrew talks about his first property and how he allocated each resource What is better about this asset class than just fixing flipping and wholesaling? Andrew talks about high rates of return and shrinking supply His experience with the Mobile Home market He talks about how this asset class could be better than just fixing, flipping, and wholesaling [13:10 - 28:00] Talking strategies What Andrew looks for in investment criteria Andrew breaks down what he looks for in the Midwest Using the Syndication model We talk about what class Andrew looks for before purchasing Andrew gives people wanting to go into Mobile Home Parks some advice He talks about starting out with small properties Check out the Mobile Home Park Academy by Kevin Bupp and MHU Bootcamp by Frank Rolf Andrew's experience as a landlord Typical hold while on the Syndication Model We talk about Andrew's long term strategy An overview of the competition in the field Andrew talks about the increasing awareness of the asset class Andrew’s 5-year goal Andrew talks about how he wants to double in size and expand the business Learning the value of getting creative with your owners final questions [28:00 - 31:44] Call To Action Three closing questions Pain point and weakness Andrew talks about the hiring process Favorite book Deals on Wheels - Lonny Scruggs Ideal place to live anywhere in the world Italy Get hold of Andrew on keelteam.com and check out the podcast the Passive Mobile Home Park - investing podcast. Final words from your host Tweetable Quotes: “You really want to own the Real Estate in the whole entire Mobile Home Park. That's where the wealth is built…. You’re going to create forever cash instead of just temporary cash.” - Andrew Keel “Mobile Home Parks have one of the highest rates of return out of any rental Real Estate…” - Andrew Keel Resources mentioned in the episode: Mobile Home Park Academy MHU Bootcamp Deals on Wheels Visit Elite Podcast Bookings, the #1 Real Estate Podcast Booking service, and get 25% off with our new Economy Plan. You can get more of Andrew on LinkedIn, or visit his website and meet the Keel team at www.keelteam.com. Also, be sure to check out his podcast The Passive Mobile Home Park - investing podcast. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes. To know more about me and all the real estate opportunities you can find, check out my website at MatthewBaltzell.com. Book a free 15-minute call with me. Click here!