Interview with Elias Weiner from the BoaVida Group

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 talks with experienced mobile home park owner/ operator Elias Weiner from the BoaVida Group. Today Andrew and Elias converse about how the mobile home park business has changed, interest rates and cap rates when refinancing, different value-add initiatives and the upcoming tiny homes movement.

Elias is the founder and President at The BoaVida Group. The BoaVida Group is a mobile home park and RV park real estate investment company that owns and operates over 165 properties with more than 20,000 home spaces. Elias is the 10th largest owner and operator of manufactured housing communities in the country.

 

***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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.

Book a 1 on 1 consultation with Andrew Keel to discuss:

• A deal review
• Due diligence questions
• How to raise capital from investors
• Mistakes to avoid, and more!

Click Here: https://intro.co/AndrewKeel

 

Would you like to see 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

02:38 - Elias Weiner's story

10:05 - Raising money: syndications versus investment funds (in mobile home park investing)
14:10 - The toughest hurdle for MHP operators
18:20 - Management of mobile home parks
19:58 - How Elias' mobile home park investment strategy has changed over the years
22:24 - Utilities in mobile home parks
25:33 - Value add components inside manufactured housing communities
27:30 - The best investment opportunity right now (MHP related)
31:14 - Projections for rent growth
32:40 - Interest rates and cap rates (Are MHP's recession resistant?)
36:13 - The most important things that passive investors need to look for before they invest into mobile home parks
39:10 - Tiny homes movement
40:27 - Getting a hold of Elias Weiner
41:55 - Conclusion

 

 

Links & Mentions from This Episode:

BonaVida Group: https://www.theboavidagroup.com/

Elias email: [email protected]

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 

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

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

Twitter: @MHPinvestors

 

Quotes:

“The more you can get involved in the beginning on [the better], like how the dealership side of the business works” - Elias Weiner

“The biggest risk is not doing anything, is just sitting there idle.” - Elias Weiner

“I'll typically figure out what I think the true market rent is, and then I'll make sure that I'm there or just past there in year five..” - Elias Weiner 

“The beauty of real estate investing is, first of all, multifamily, whether it's apartments or mobile home parks, are one of the most predictable safest types of real estate investing.” - Elias Weiner