How to Handle Tenant Turnover in Mobile Home Park Investments
Managing tenant turnover efficiently can be essential for maintaining the profitability of mobile home parks. On average, tenant turnover rates in mobile […]
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Interested in learning more about Passive Mobile Home Park Investing?
Interested in learning more about 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 interviews Zach Dixon from Green River Capital Partners.
Zach Dixon bought his first rental property in 2017 and since then he and his wife, Rachel, have acquired 300+ mobile home park lots.
In this episode, Zach and Andrew dive into many golden nuggets on mobile home park investing, including: the nuances of mobile home rehabs and point out that while manufactured homes may be simply built, it doesn’t mean replacing mobile home parts is a simple process.
Zach talks about how starting small in mobile home park investing isn’t a bad thing, his theories on renovating mobile homes and why it is important to make sure that the numbers make sense. Zach also shares with us what he feels is the most important aspect mobile home park owners should address in maintaining a mobile home.
***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 3,000 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 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. Check out KeelTeam.com to learn more.
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:
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 500 total 5-star reviews, 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 value-add 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.
00:21 – Welcome to the Passive Mobile Home Park Investing Podcast
01:15 – Small goals lead to big outcomes
04:43 – Tenancy, community, and maintenance in mobile home parks
07:40 – The struggle of financing smaller mobile home parks
09:30 – Putting mobile home park deals together
14:00 – Education in the mobile home park industry and mistakes made within due diligence processes
18:00 – Demand, mobile home park tenant base, and trust
24:45 – City utilities and city-maintained streets
25:40 – Do the numbers make sense to you?
28:00 – Renovation of mobile homes
31:00 – Reaching out to Zach Dixon
31:21 – Conclusion
SUBSCRIBE TO THE PASSIVE MOBILE HOME PARK INVESTING PODCAST YOUTUBE CHANNEL: https://www.youtube.com/channel/UCy9uI3KGQmFgABsr9lUtRTQ
Green River Capital Partners Instagram: https://www.instagram.com/greenrivercapital/?hl=en
Zach Dixon’s business email: greenrivercapitalpartners@gmail.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
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Twitter: @MHPinvestors
Andrew: Welcome to the Passive Mobile Home Park Investing podcast. This is your host, Andrew Keel. Today, we have an amazing guest in Mr. Zach Dixon.
Before we dive in, I want to ask you a real quick favor. Would you mind please taking an extra 30 seconds to head over to iTunes and rate this podcast with 5 stars? This helps us get more listeners, and it literally means the world to me. I check every single one of these reviews, and it just really fills up my cup. Thanks for making my day with that review of the show. All right, let’s dive in.
Zach Dixon bought his first rental property in 2017. Since then, he and his wife, Rachel, have acquired over 300 mobile home park lots as well as some apartment units and single-family home rentals.
Zach, we’re excited to welcome you to the show, brother.
Zach: Thanks for having me. I’m really excited to be here actually.
Andrew: Would you mind starting out by telling our listeners about your story? I know you were a cop or a detective for many years, so maybe you can start by sharing your story and how in the world you got into manufactured housing communities.
Zach: My wife and I had talked about investing in real estate for some time. We wanted to do it, and we’ve seen the benefits of it.
Like you mentioned, I was working as a cop. As you know, cop salaries aren’t the highest.
Looking back, our goals were very small. As I’m sure, a lot of people look back in hindsight and are like, wow, why did I have such small goals? I just wanted to add income to my salary. I just wanted a little bit more income.
We started looking at real estate, and it was going to be single-family homes. But even in the area of Colorado where we live, those were kind of out of our price range, if you will.
We actually found a single mobile home on a piece of land—basically a single-family—and we purchased that. All in, we were $17,000, which was a really good deal.
We rented it for two years and turned it around and sold it for, I believe, $49,000. But in the meantime, in those two years, we were also buying other small multifamily. It wasn’t until a couple of years after buying our first one that we bought our first mobile home park.
We got familiar with mobile homes. I have a little bit of a background in construction—done that most of my life—so to me, they’re easy to work on. I know a lot of people don’t think that.
Fast forward, we started really trying to acquire parks. We fell in love with the model and tried to figure out why it wasn’t being talked about more. As you know, now it is being talked about. It’s a big deal. A lot of institutions, money going into them, and a lot more banks are financing them now, whereas before they weren’t.
Andrew: That is fantastic. That very first mobile home was your first rental that you got. You got it for $17,000. That’s amazing. Was that off-market or a listed deal?
Zach: It was a listed deal. I think Rachel saw it on Facebook. It was a listed deal in 2017 back when everybody wished they could have bought more. I wish I could have bought more then, but we’ve learned a lot.
Going back to our goals at the time we bought the first one, we got excited, and my big fancy goal was like, man, if I could have 15 of these things by the time I’m 60–65 and add another $100,000 to my income, I’ll be good. Obviously, those goals changed very quickly, which is a good thing.
Andrew: That’s fantastic, man. Why jump into mobile home park investing versus staying in the single-family home now? What was it, and how did you get educated on the possibility of manufactured housing?
Zach: At the time we started, I’m sure you’ve heard of BiggerPockets podcasts. I believe this was before even Brandon was buying mobile home parks. I didn’t really hear a lot about mobile home parks. It was kind of a new concept. I knew about them but wasn’t super familiar with them.
What made me really fall in love with the mobile home park model is by this time, we had multifamily. As you know, with apartments, you have a turnover. You go in and typically, it depends on how great the tenant was, you’re going to redo all the flooring, painting, and just a whole bunch of stuff.
But if you can get a park where you’re, in essence, doing a land lease and other people own their homes, there are quite a few advantages to that model.
One, what I’ve seen—and I guess this is the consensus—is tenants typically stay longer. You have a longer tenancy. There’s more sense of community, and people take pride in ownership. Then, the biggest one for me is there’s no maintenance other than your infrastructure, roads if those are privately owned, trees, and whatnot.
The big aha moment for us is you don’t make as much per lot as you would per apartment, but you have a lot less headache. In my opinion, it’s a lot more stable. It’s affordable housing.
Andrew: You came across it, it’s affordable housing, you kind of get more bang for your buck in terms of the number of units, and you came across it on BiggerPockets. Then you said, okay, I want to buy a mobile home park. Then what did you do? Did you look at listed deals? Did you start talking to brokers? How did you get that first park, and when did you close on that one?
Zach: That one would have been 2019, end of 2018, and that was in North Carolina. That was a smaller park. It was listed. I had called about it, talked to the broker, did a drive-through of it, and then just stopped pursuing it. I realized, hey, I should probably go back and look at that park. I think that’s a good deal. The numbers make sense.
At that time, it was actually expired. We still did the deal, but a little bit of a backstory, the financing, as you are aware of, was very difficult. I may not have called 50 banks, but I got a lot of banks, and everybody was like no.
Finally, I found a bank […] quite a small local bank in North Carolina, and they financed it, 70% of the purchase price. That was our first one. Obviously, financing has historically been the big hurdle to investing in mobile home parks.
Andrew: Why? Is it because you didn’t have a track record, or is it just finding a bank that wants to finance and hold this as collateral? Why has it been a struggle for you?
Zach: At the time, I didn’t think there’s a lot of publicity around the parks. It was looked on as the lowest of the lowest, and it seemed like banks didn’t really want to touch it. There are issues with trailers being able to be pulled in and out, which is a large part of if it’s producing a certain amount of income and you go pull all the trailers out, the bank has really no income. They just have the land.
I think that was part of it. But since then, we’ve had quite a bit better luck. Actually, today, I just got a call from a banker who said we got approved for two refinances. Interest rate and environment were now pretty good terms, so it definitely has changed. I think it’s starting to get some of the attention it deserves.
Andrew: Tell us about your model. What does the typical park look like that you’re looking to buy? You have 300 lots. Are those 30 lots or 100 lots? What do those look like?
Zach: They vary. Our largest park is 90 lots. Our smallest is eight with a single-family home, and that’s in a very hot market.
We have historically gone after the smaller parks as a niche. For a while, it didn’t seem like there was as much competition or as much focus being given to the smaller parks. Now, they’re all pretty popular. I feel like if for us, we could make the numbers work on the smaller parks.
Andrew: Same here. I’ve seen that. With those 30-lot parks, you’re able to get it at an 11% cap going in. I think there is an opportunity there now.
Are you raising money? Are you doing JV deals with equity partners? How are you putting these deals together?
Zach: Backing up, we bought our second park. We were super excited about it. We bought that one with bank financing as well. We did extremely well. We held it for not even seven months before an investor came in and offered us over three times what we paid for it.
Andrew: What did you do with that one? Was it a big value-add project?
Zach: I’ll tell you the story. It was actually an off-market park. It was from our hometown in North Carolina where both my wife and I grew up in Wilkesboro North Carolina.
We’re driving one morning to get coffee, and I thought I’d go drive around and look for some parks. I actually stopped in by the mobile home dealer, and I was talking to the lady there. I was like, hey, you don’t have any good deals on parks? She’s like, well, there’s that one over off Armory Road. I’m like, all right, who owns it? She told me. I’m like, that’s our realtor that we used on our first park. Turns out he didn’t know that he managed it.
I called him and got some details. This was during COVID, so maybe it was our third park. A lot of stuff is going on. Long story short, we bought it for $300,000, US bank financing. Seven months later, we got an offer. We raised the rent a little bit. We didn’t really do any value-add but got an offer for $945,000.
Andrew: Wow, how many lots was that?
Zach: That was only 24.
Andrew: Wow, 24 lots. You picked that up for $300,000. That’s phenomenal.
Zach: That was a big boost for us because then we were able to take that money. I didn’t realize it at the time. Typically, it’s a two-year waiting period, but because we didn’t go it, we weren’t anticipating flipping this. We hadn’t even really added any value other than raising their lot rents a little bit.
We got advice from our CPA and attorney, and they’re like, yeah, you could 1031 this even though it’s been seven or eight months. We did that. We rolled that into several other properties.
That was a big boost. It was around that time, maybe even a little before we started exploring the benefits of private money or lending from individuals.
That’s what we do now. We do a lot of owner financing if we can. Obviously, that’s always preferred, especially if you can get good terms and everything.
We’ve started using private money, and our model is if we can get a park with private money either 100% or a good portion of it, owner financing, or bank financing—we found banks that’ll work with us that way—backing up, preferably private money because then you can buy it outright, add whatever value you need to add, raise rents, infill, whatnot, and then you can refinance it. That’s actually what we’re doing. We’re in the process of refinancing a couple of deals that we got with private money.
Andrew: Pretty cool.
Zach: That’s what we’ve done lately.
Andrew: Awesome. You guys are based out of Chattanooga now, is that right?
Zach: We actually live in Colorado.
Andrew: In what part of Colorado?
Zach: Southwest Colorado. Do you know where Telluride is? It’s about 30 minutes outside of Telluride.
Andrew: Very cool. Where’s your portfolio at? Is it mostly in the Carolinas?
Zach: We have some stuff here in Colorado, and then we have South Dakota, West Virginia, North Carolina, and Florida.
Andrew: Okay, so kind of spread out.
Zach: Quite a bit, yeah.
Andrew: Do you manage all that in-house?
Zach: We do. Rachel and I do all of our own management. We’re probably to the point where we’re going to start exploring some different options with that because it’s quite a bit and we’re growing. We just closed a park two days ago, and then we have three […] close by the end of the year.
Andrew: You got a lot of work to do.
Zach: It’s to the point where we would like to try to hire management for at least a good portion of it.
Andrew: Awesome. What do you think is the toughest hurdle to mobile home park investing that’s been your experience thus far?
Zach: I would say knowledge. Being educated, going into this educated, and knowing what you’re getting yourself into is probably one of the more important things, knowing what to look for.
Andrew: How would you do that, to know what to do in due diligence and things like that?
Zach: Trial and error. I listen to podcasts. Frank Rolfe, I’m sure you’ve heard of him. I listen to his podcast. That was a helpful little short clippet of stuff to do on due diligence. That and trial and error.
Andrew: Have you ever been to a boot camp?
Zach: I have not.
Andrew: So it’s podcasts, being resourceful online, self-educating, and trial and error. What do you think is the best strategy right now? What’s your strategy for these next parks you’re looking to buy? What’s the size? What do they look like? What is the big value-add that you bring to the parks that you purchase?
Zach: I don’t think we talked about this yet but tenant-owned homes versus park-owned homes. We obviously prefer tenant-owned homes, so we are attempting to purchase parks that are primarily tenant-owned homes.
We don’t mind park-owned. We have a decent amount of park-owned, but like I said, our model is really to acquire these things with private money or at least a good portion of it and then hold it and value-add through infill which has been a little tough in the last couple of years. As you know, prices of new homes have gone up a bunch, but you can still find used homes at a decent price.
Andrew: About how many homes have you guys infilled since you started buying parks?
Zach: Not enough.
Andrew: How many do you think?
Zach: Ten maybe, and then we’ve converted quite a few park-owned homes to tenant-owned homes. We’ve done that quite a bit.
With that, if you can buy the parks based as if they were all tenant-owned homes, then that makes it obviously easier to convert. If you go and buy a park with numbers based on the park-owned homes and try to convert, a lot of times it doesn’t work.
Andrew: Totally. Okay, that’s some of your strategies. Have you submetered a park yet, taking the water […] and putting Metron Farnier meters on it or something like that to bill back?
Zach: We have. We’ve actually done that only one time. Most everything we buy now is already submetered not necessarily by Metron or whatever, but it’s typically through the city it’s already submetered, which is nice.
We have done that in one park, and that was actually pretty straightforward. We hired a plumber to go in and do it. He actually was reading it for us for the first little bit where he had a service and it was fairly affordable, so it was a good thing that saved a decent amount of money because in that park, the water and sewer bill was actually quite high.
Andrew: Tell us, Zach, what are the top couple of mistakes that you would say you’ve made in mobile home park investing that you know all of our listeners can learn from?
Zach: Probably not doing good enough due diligence. I’m pretty thorough when it comes to due diligence, but we did buy a park where I didn’t go in all the park-owned homes because there was an excuse for this home and why they weren’t home in this home. I was like, all right, well, they look okay from the outside. Come to find out they weren’t.
Really doing thorough due diligence, I would say, is a big one.
Andrew: Do you own any parks with private utilities like wells, septics, lagoons, or anything like that?
Zach: No wells. We own two parks on septic tanks.
Andrew: The rest are just public utilities and city water. That’s cool.
If you were talking to one of your private money partners or a potential investor, what would you tell them are the most important things that they should look out for when investing in a mobile home park? If you are going to invest passively, what would you want to know about the deal to get comfortable with it?
Zach: I would want to make sure it was in a good area and that there was good demand for housing. I know it’s a little tricky nowadays. It seems like there’s demand everywhere and there kind of is, but see what kind of tenant base you have, jobs, and whatnot.
Andrew: Are there any specific ways to do that aside from going to the park?
Zach: I’ve only done this a couple of times. Run test ads. You can run a test ad for a lot and a home and see what kind of response you get. I think that’s a common way to judge the demand for that type of housing in a particular market. That’s a good way.
Talking to realtors and property managers, seeing like, hey, is there a good demand? We get so many phone calls every day looking for rentals. That’s another good way to judge the demand in an area.
Andrew: That would be the main thing you’d tell. If you were going to passively invest in a deal, you want to make sure the market’s solid. Is there anything else you would look at if you were going to passively invest with me or another operator? You saw a deal, what would it look like?
Zach: That’s where I get excited. I get excited about this topic of investing passively with somebody.
I think the number one thing—and you probably experienced this—is trusting the operator. If I could say anything, the market, demand, and all that stuff, in my opinion, goes out the window.
I would rather say, okay, this guy, Andrew, he’s been investing for so many years. He knows his stuff. He’s gotten these kinds of returns. That’s where I’m going to put most of my decision-making based off of, the track record, because without a track record, especially now, there’s a lot of new syndicators and new people doing this. That’s the scary part to me.
If I was going to invest, there are a lot of benefits to it. You don’t have to manage the property, find the property, get the financing, and deal with all the headaches, yet you can still get a really good return on your money.
Andrew: I totally agree. I bought six parks myself this year that I syndicated, but I’ve also invested in five passively because I like to put the money to work. If I trust the operator and I like the deal, I like that because it’s a lot of work.
From where we started recording, one of the typical questions is what kind of mistakes have you made? What can we learn from it? You were like, yeah, it’s always something, right? Every day, it’s always something, especially when you’re self-managing those first 500 lots. It’s a lot. You’re doing everything from opening the mail to paying the bills and doing the collections and follow-up calls. It’s a lot. I’ve totally been there.
Zach: Because it is a lot of work, I think a lot of times, it’s easy to look at somebody that’s doing this and be like, oh, that’s so easy, making good money, and all this. It’s true, there are tons of benefits. I love mobile home parks as a whole. They’re very secure and there are tons of benefits, but at the same time, like you said, there is a lot of work.
This is what I explain to people who are maybe interested in investing passively. If I get on a rant and talk about it, I can go buy a park. Let’s just say I find a 10% cap rate. That means if I go in and buy that thing all cash, I’m going to get an 8%–10% return on my money.
Whereas I could do the same thing and get the same return by passively investing. You don’t get the appreciation, but you get a lot of other stuff. You get peace of mind and the true mailbox money, if you will, so there are tons of benefits in investing.
Andrew: And some syndicators will share a piece of the upside too, so it’s not just the said interest rate you’re getting. You’re getting a piece of the actual equity. In our syndications, we give a piece of the upside to the LPs.
But let’s play devil’s advocate for a second, why not invest in mobile home parks? What’s the top reason you’d say someone should not invest in the asset class?
Zach: I would say going back to my original comment, if you don’t trust the operator, there’s a lot of room for error. What you see a lot of times is these people who buy parks are excited. They may overpay, and then they just let it run.
We’ve bought parks like this where they just kind of put it on autopilot and it doesn’t run very long or very smoothly that way. You come in, get that, and revive that park back to life, but that would be my first caution to not buy mobile home parks if I was playing the devil’s advocate or investing passively.
Like I said, going back to trusting your operator because they will know what’s a good deal and how to run it properly to maximize your return. Other than that, I can’t really think of another reason to not invest honestly.
Andrew: That’s great feedback because from knowing other operators and knowing their strengths and weaknesses, I think that’s a really important note. If they’re on it, doing this every day, and giving this attention, they can be very successful. But if they’re not, things can go south really fast.
I remember a podcast. It was a guy who worked for Freddie Mac. This was years ago. I remember him saying the default rate on mobile home park loans is very low. It’s one of the lowest, but when a mobile home park goes bad, it’s 50% worse than any other asset class to bring back to life because it’s very expensive. The homes are either trashed, or you got to tear them down and bring them in, so it’s very capital-intensive when one goes bad. You need an operator that’s on it, for sure.
Zach, what does the perfect mobile home park look like in your eyes, and why?
Zach: I would start with city utilities. City water sewer directly billed to the tenants, if you can, whether that’s through Metron, bill back, or just through the city.
All tenant-owned homes. And then I would say the cherry on top would be if you can find—we own one like this—where it’s all city-maintained streets. That’s basically an entire city block. You have the little driveways, but everything else is scraped.
Andrew: Where they plow the snow and everything.
Zach: Plow the snow and upkeep the roads. That would be the ideal park.
Andrew: And it’s 100 lots, and you’re buying at a 10% cap.
Zach: Exactly.
Andrew: That’s awesome. What do you think is going to happen in the next few years with the direction the economy’s going? How do you think mobile home parks will fit in with that?
Zach: It’s hard to say. Every day I read a different article about how interest rates are going to go down next year. No, they’re not going to go down that much. They’re going to whatever.
My theory is—at least Rachel and I—no matter what the market’s doing, we just need the numbers to make sense to us and look at all the worst-case scenarios financially, and we’ll still buy. I think that mobile home parks are going to become more and more popular. As you know, they’re not making any more of them. Or if they are, there are a lot of stipulations and there are only a couple of states that allow it.
I think they’re going to become more popular. It’s an amazing, affordable housing option.
As we’ve already seen in the last five years, the popularity increased with—I can’t remember if it was Blackstone or BlackRock—one of the big companies that invested so many billions of dollars into mobile home parks.
That right there should tell you. It’s going to come around, I believe, to where there are more and more mobile home parks. I forget the percentage of mobile home parks owned by mom-and-pop operators. You’re seeing it now. It’s going to slowly dwindle to where it’s going to be owned by big corporations because people are starting to see the benefits in mobile home parks.
Andrew: I think something like 70% are still owned by mom-and-pops, but most of those are baby boomers. They’re retiring now, so it’s trading hands, and there are more groups like yours and mine that are medium-size operators, and then there are the big boys that are going after the institutional quality assets.
I definitely think it’ll become more institutionalized and interesting, but I think it’ll take time because not every mom-and-pops wants to sell today.
Zach: That’s the big thing, trying to find somebody that wants to sell.
Andrew: You mentioned something earlier, Zach, that really intrigued me. You said that you think mobile homes are fairly easy to rehab, and you have a construction background. I’d love to hear why because I have some thoughts on this. I would love to get your insight.
Zach: Like I said, we do own a fair amount or a decent amount of park-owned homes mostly down in Florida. The challenge becomes trying to find people who know how to work on them.
I’m always just like, guys, it’s so simple. It’s not that hard but to the point where I base on the idea of do I start a company to rehab mobile homes, just do large scale, go to big operators, and be like, look, I will rehab 10 homes at a time, and then if you can systematize it to where you get your supplies?
I’ve been even trying to think of better ways to improve not necessarily the mobile home itself but the rehab process.
Really all it is is a frame. It’s a trailer. You have your floor choices, subfloor, and plywood. In older homes, it’s the particle board basically stalled as a board, and then you have your wall. A lot of times, the walls are built on top of the carpet.
It’s really interesting the way they’re built, but they really are built very simply, so if you understand how they work, they’re really easy to work on. The water lines run a certain way.
Andrew: And you have access. You enter the homes, and it’s a closed space. I see the benefit of it being easier to work on versus somebody’s older houses with concrete foundations and things like that, but at the same time, a lot of people don’t realize that the doors were a different size, the windows are of different sizes, and the drywall is a different thickness. Everything is a little bit different. The tubs are different sizes, and the fixtures in there are different.
It’s not like you can just go to Home Depot and get all the pieces you need to fix these things. Like you said, if you can systematize it, no, hey, for every house, I need this paint color, I need this size baseboards, I need these PEX water lines, you get the underbelly secured, and all that kind of stuff. It’s just so different too for homes in the south versus homes in the north where it gets cold. You got to get the water lines protected.
That’s interesting. I’ve never thought of it that way. They’re simply built. They have nuances to it.
Zach: I always tell people. Number one thing, take care of the roof. If you start having leaks in the roof, it’s going to obviously trickle down—no pun intended—and ruin everything. Any kind of leaks, get them taken care of. They’re simple.
Like you said, a lot of stuff is specific to mobile homes so that’s why if somebody has a decent amount of park-owned homes or trying to rehab, get with a supplier or somebody who knows mobile homes. They’re easy to work on. Unfortunately, you don’t find many people who can or are willing to.
Andrew: That’s the key, right?
Awesome, Zach. Dude, thank you so much for coming on the show and sharing a ton of nuggets about your journey. If any of our listeners would like to get a hold of you, what would be the best way for them to do so?
Zach: You can follow us on Instagram, @greenrivercapitalpartners, and then our email address is greenrivercapitalpartners@gmail.com. Either one of those is great.
Andrew: Awesome, man. Thank you so much for coming on the show, Zach.
Zach: All right, thanks for having me.
Andrew: That’s it for today, folks. Thank you so much for tuning in.
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Managing tenant turnover efficiently can be essential for maintaining the profitability of mobile home parks. On average, tenant turnover rates in mobile […]
In today’s episode, Andrew Keel continues his insightful mini-series on some of the top risks involved in mobile home park investing. This episode zeroes in on the risks specific to investing in mobile home parks in tertiary markets—areas with smaller populations that can offer both unique opportunities and significant challenges for trailer park investors.
Mobile home park investing can offer many benefits, but like any real estate venture, it can come with risks. Natural disasters such […]
Deferred maintenance in mobile home parks may seem daunting, but for investors, it presents a strategic opportunity. While properties with outstanding repairs […]