012. Driving Cost Savings While Building a $125M Manufactured Housing Portfolio with Andrew Keel

Major League Real Estate Podcast

Andrew Keel shares his journey in the mobile home park industry and how he scaled his business to over 40 syndications and $125 million in assets under management. He discusses the challenges and management of mobile home parks, the importance of building a strong team, and the use of virtual assistants. Andrew also highlights the benefits of offshoring and the role of technology in managing a large organization. He explores the potential of manufactured housing and the need for more efficient construction methods. Additionally, he addresses the affordable housing crisis and the challenges faced by cities in embracing mobile home parks. The conversation explores the challenges of mobile home ownership, the potential shift towards mobile home parks, the difficulties in addressing the issue, the changing perception of manufactured homes, potential solutions and financing options, the need for backing and advocacy, streamlining business workflow, and contact information. Takeaways

• Building a strong team and utilizing virtual assistants can help streamline operations and increase efficiency in managing mobile home parks.
• Offshoring certain tasks can provide cost savings and allow for more dedicated and disciplined team members.
• The mobile home park industry offers unique investment opportunities, with the potential for high returns and lower expense ratios compared to other asset classes.
• Manufactured housing has the potential to address the affordable housing crisis, but there are challenges in terms of zoning and public perception that need to be overcome.
• Efficient construction methods, such as modular housing, can reduce waste and increase productivity in the construction industry. Mobile home owners face challenges in creating equity and relocating their homes.
• There is a potential trend towards mobile home parks as a solution to the increasing demand and dwindling supply of affordable housing.
• Addressing the issue of affordable housing in mobile home parks is complex and requires navigating local zoning regulations.
• Changing the perception of manufactured homes is crucial in promoting their affordability and quality.
• Potential solutions include offering financing for the purchase of manufactured homes and advocating for supportive legislation.