Interview with Miles Noland from Treeside Capital

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 Miles Noland from Treeside Capital. Miles and Andrew discuss why mobile home parks are one of the best performing asset classes and the stability that mobile home park investments have previously provided during recessions. They also discuss the hurdles operators must overcome with on-site managers managing the mobile home parks and the important role the operations team plays to improve the income and expenses of mobile home park investments.

Miles is a principal at Treeside capital and they invest in manufactured housing communities, RV parks, and self-storage facilities. They are based out of Cincinnati, OH and currently own and operate around 1,300 units
worth around $33 million. Miles is also a former college baseball player and coach.

***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.

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Talking Points:

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

01:21 - Miles’ story and how he got into manufactured housing

05:44- Miles’ first MHP deal

07:23 -The story behind Treeside Capital and their portfolio

12:57 - The team at Treeside Capital

15:30 - The toughest hurdle for operators in mobile home parks

18:00 - The hardest value add component in mobile home park investments

20:00- Infill in mobile home parks

22:00- The best opportunity or strategy for mobile home park investing

25:05- Mistakes to learn from

27:47- What LP's need to look out for when investing in MHP's

31:05 - Preparations for the future and possible recession

32:43 - Getting a hold of Miles Noland

33:22 - Conclusion

Links & Mentions from This Episode:

Treeside Capital: https://treesidecapital.com/

Miles Noland, LinkedIn: https://www.linkedin.com/in/miles-noland-62a60a119/

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:

“I finally started doing some cold-calling and that’s when I got some traction.” - Miles Noland

“I would say [of all the asset classes] mobile home parks are the most stable.” - Miles Noland

 “That’s been one of the hardest things to do is build up a good team.” - Miles Noland

“That’s one of my favorite questions, is just ‘Hey, can I get some advice?’ cause people want to help.” - Miles Noland