Interview with Apurva Shah from JAYS Properties

Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode, Andrew talks with mobile home park owner and operator, Apurva Shah from JAYS Properties. Apurva's background in multiple asset classes has enabled him to have a unique entrepreneurial perspective on the mobile home park space. Apurva shares his journey on self education in the manufactured housing community space. Apurva also shares some of the mistakes he made as well as the important lessons he has learned throughout his mobile home park investing journey. Apurva provides wholesome advice for passive investors (limited partners) and he also shares his thoughts on the future of the manufactured housing community space.

Apurva is the Managing Partner at JAYS Properties, LLC his focus is on residential and commercial real estate investments, including value add, office, multifamily and mobile home parks. Apurva has completed over $50MM in real estate transactions and manages an eight figure portfolio.

***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 2,500 lots under management. His team currently manages 39 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

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

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• Due diligence questions
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• Mistakes to avoid, and more!

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Talking Points:

00:21 - Welcome to The Passive Mobile Home Park Investing Podcast

01:15 - Apurva's background and journey into the manufactured housing community space

04:16 - Apurva's first mobile home park deal in Michigan and his current portfolio

05:04 - How do car washes perform as an asset class?

06:46 - Research and self-education on different asset classes

10:53 - The toughest hurdle to overcome in mobile home park investing

13:31 - Apurva's perfect mobile home park looks like this!

14:30 - Private sewer systems managed by Apurva and his team

17:00 - The importance of due diligence

21:00 - Passive investors should vet all of their general partners

24:55 - What does the future in mobile home park investing look like?

28:45 - The biggest threats to the mobile home park industry

33:28 - Getting in contact with Apurva Shah

34:04 - Apurva's final piece of advice for passive mobile home park investors

35:10 - Conclusion

Links & Mentions from This Episode:

JAYS Properties: https://www.jaysinvestments.com/

Apurva's email: [email protected]

Keel Team's official website: https://www.keelteam.com/

Andrew Keel's official website: https://www.andrewkeel.com/

Andrew Keel's LinkedIn: https://www.linkedin.com/in/andrewkeel

Andrew Keel's Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Andrew Keel's Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

"Those wastewater treatment plants, those things are expensive." - Andrew Keel

"I think on our earliest deals, the biggest thing has been due diligence, doing the right due diligence upfront to make sure that you're not getting bit later on." - Apurva Shah

"What we tell our regional managers is, once a quarter, you need to go down there, talk with your tenants." - Apurva Shah

"When the market's down, real estate is continuing to outperform other asset classes or other investments." - Apurva Shah