Interview with Zach Dixon of Green River Capital Partners

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 interviews Zach Dixon from Green River Capital Partners.

Zach Dixon bought his first rental property in 2017 and since then he and his wife, Rachel, have acquired 300+ mobile home park lots.

In this episode, Zach and Andrew dive into many golden nuggets on mobile home park investing, including: the nuances of mobile home rehabs and point out that while manufactured homes may be simply built, it doesn't mean replacing mobile home parts is a simple process. 

Zach talks about how starting small in mobile home park investing isn’t a bad thing, his theories on renovating mobile homes and why it is important to make sure that the numbers make sense.  Zach also shares with us what he feels is the most important aspect mobile home park owners should address in maintaining a mobile home.

***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 3,000 lots under management. His team currently manages over 40 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. Check out KeelTeam.com to learn more. 

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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Would you like to see value-add 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.

Talking Points:

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

01:15 - Small goals lead to big outcomes

04:43 - Tenancy, community, and maintenance in mobile home parks

07:40 - The struggle of financing smaller mobile home parks

09:30 - Putting mobile home park deals together 

14:00 - Education in the mobile home park industry and mistakes made within due diligence processes

18:00 - Demand, mobile home park tenant base, and trust

24:45 - City utilities and city-maintained streets

25:40 - Do the numbers make sense to you?

28:00 - Renovation of mobile homes

31:00 - Reaching out to Zach Dixon

31:21 - Conclusion

Links & Mentions from This Episode: 

Green River Capital Partners Instagram: https://www.instagram.com/greenrivercapital/?hl=en

Zach Dixon’s business 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: 

“You get peace of mind and the true mailbox money, if you will, so there are tons of benefits in [passively] investing.” - Zach Dixon

“I bought six parks myself this year that I syndicated, but I've also invested in five passively because I like to put the money to work. If I trust the operator and I like the deal, I like that (investing passively) because it's a lot of work.” - Andrew Keel

“No matter what the market's doing, we just need the numbers to make sense to us and look at all the worst-case scenarios financially, and we'll still buy.” - Zach Dixon

“Mobile homes are simply built but they have nuances to it.” - Andrew Keel