Interview with Jimmy Johnson of Sanddollar Communities

Episode 57 June 22, 2021 00:42:35
Interview with Jimmy Johnson of Sanddollar Communities
Passive Mobile Home Park Investing
Interview with Jimmy Johnson of Sanddollar Communities

Jun 22 2021 | 00:42:35

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Show Notes

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 Jimmy Johnson of Sanddollar Communities. Jimmy shares his story about his unique entry into the manufactured housing industry. He also gives his advice for new passive mobile home park investors and active trailer park operators. Jimmy offers his expertise on a few items including:  the future of the mobile home park industry and his process for hiring and employing great on-site managers. He also shares his insights on working with significant others.

Jimmy Johnson is the founder of Sanddollar Communities, which focuses on the sourcing of off market, direct to seller, mobile home parks. He has closed 34 mobile home parks in 14 different states. Jimmy also has founded Sanddollar Communities Management, a mobile home park property management firm that manages a growing portfolio of over 1,300 sites across the country. Jimmy lives in Tampa, Florida and is an avid boater & fisherman.

 

***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.

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.

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 100 total 5-star reviews by the end of 2021, 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!

 

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:26 - Jimmy Johnson’s story and journey into manufactured housing
05:28 - Jimmy’s first mobile home park
07:09 - What does it mean to assign a deal?
09:00 - The toughest part of the process for Jimmy
11:00 - Jimmy’s MHP management process
14:00 - Jimmy’s key performance indicators (KPI’s)
16:00 - How Jimmy finds deals
18:26 - Advice for new LP’s (limited partners) investing in their first mobile home park
23:23 - Jimmy’s deal criteria
26:38 - Working with loved ones
28:49 - Jimmy’s perfect mobile home park
31:00 - Common operator mistakes
34:40 - The future of the manufactured housing industry
37:56 - Sanddollar Communities
40:58 - Getting in contact with Jimmy
41:42 - Conclusion

 

Links & Mentions from This Episode: 

Sanddollar Communities: https://sanddollarcommunities.com/
Jimmy Johnson email: [email protected]
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPin...
Andrew Keel Instagram page: https://www.instagram.com/passivemhpi...
Twitter: @MHPinvestors

  

Quotes: 

“[Managers] are kind of the backbone of a good deal and a good, successful park.” - Jimmy Johnson

“Just try to have the best relationships possible. Because we’ve been referred from previous sellers.” - Jimmy Johnson, on how he finds deals

“I haven’t outsourced the marketing. It’s something that I really love to do.” - Jimmy Johnson

“I think that’s what a passive investor should look for, 100% transparency.” - Jimmy Johnson

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