JC 080: Investing in Manufactured Homes with Andrew Keel
Andrew Keel is the founder of the Keel Team, LLC. He and his team currently manage 16 manufactured housing communities and are continuing to grow. Andrew uses his expertise to turn around under-managed, manufactured housing communities by utilizing proven systems to maximize occupancy while reducing operating costs, thus generating revenue.
The Keel Team specializes in bringing in mobile homes to fill vacant lots, implementing utility bill pay back programs, and improving overall management and operating revenue. The result of his efforts significantly boosts the asset value and net operating income of these communities.
Andrew Keel joins John Carney today in The Real Estate Locker Room to amplify your mobile home game.
Six Key Points:
- Do a Lonnie Deal. Buy a mobile home in a mobile home park nearby, put work into the home, and sell the structure but keep the lot so you can collect the lot rent.
- You will have immediate success when you “become the bank” and finance the home. Owning a mobile home plus the lot has tax benefits, depreciation schedules, and creates wealth.
- In mobile home parks, you can own the lot the home is on. The tenants can own the mobile home itself. Therefore you are not responsible for home upkeep as a landlord. The annual turnover rate for a mobile home community is only 5-6%.
- Be obsessed and you will be successful. Go all in with your passion and learn everything you can. Find a mentor and build your team so that you can advance to a higher level of real estate.
- Find an experienced operator and invest passively with them for your 1st deal to learn from the operator and the process.
- Review your goals daily. It will train your mind to create solutions and options in your business and everyday life.
- Keep a healthy lifestyle.
Reach Out to Andrew Keel:
Thank you, Andrew, for taking the time to help us understand how to be successful in mobile home investments with the audience.
Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at www.johncarneyonline.com
© John Carney 2019
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