Interview with Mobile Home Park Fund Manager Kevin Bupp

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 about passively investing in mobile home parks with Kevin Bupp. Kevin is the host of the Mobile Home Park Investing Podcast as well as the Real Estate Investing for Cash Flow Podcast. Both of which are top ranked on iTunes. At his day job, Kevin is a fund manager for Sunrise Capital Investors, which focuses on niche market segments that are currently out of favor, inefficient, and have less competition. With over two decades of experience, Mr. Bupp also educates investors how to locate, negotiate, and acquire commercial real estate to generate cash flow and legacy wealth for their families. Today Kevin and Andrew talk about value add components, past experiences, risks involved with investing in trailer parks, the future of asset class, and Sunrise Capital Investors.

***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 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. 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:

00:19 - Welcome to the Passive Mobile Home Park Investing Podcast

01:24 - Kevin’s background and educational journey through real estate

07:00 - Great on-site manager s vs slum-lord managers

11:28 - Mayor Bobby Cartwritght

13:24 - The hardest part about the mobile home park business

20:57 - The biggest risks in passive investing

26:26 - The value add components

30:49 - What does the perfect mobile home park look like

31:42 - The typical park that Sunrise Capital acquires

35:28 - What does Sunrise specialize in?

40:07 - The future of asset prices

44:00 - Sunrise Capital team and operations

50:45 - What are Kevin’s typical general partner splits and fees

55:00 - Getting a hold of Kevin

00:00 - Conclusion

Links & Mentions from This Episode:

Kevin Bupp’s official website: https://www.kevinbupp.com/

Sunrise Capital Investors: https://sunrisecapitalinvestors.com/

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 am of the opinion you should probably risk your own money first before you go raising capital from others.” - Kevin Bupp

“It’s hard to create a company brand with 15-16 different managers managing that side of the business,” - Kevin Bupp, on accountability for on-site staff

“Any park that we buy, we want to know where there is an opportunity to increase the value.” - Kevin Bupp

“Up until COVID hit, for the past year and a half, we had (across the board) an incredibly difficult time finding quality contractors cause there was so much work out there.” - Kevin Bupp

“I can give you the basic mechanics of how it works but, like, my structure might not work for you because I don’t know who your investors are,” - Kevin Bupp on giving advice about fund structure.