Passive Mobile Home Park Investing

Interview with Brad Rymer the former CFO of RV Horizons

Passive Mobile Home Park Investing
Interview with Brad Rymer the former CFO of RV Horizons
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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 Brad Rymer about mobile home park investing, tips for getting into the manufactured housing industry, and stories from his point-of-view as the president of Cloverleaf Capital Group and formerly as the CFO of one of the top five manufactured home community portfolio owners in the United States (RV Horizons).

Currently based out of Denver Colorado, Brad Rymer has been president of Cloverleaf Capital Group. Cloverleaf Capital is a mobile home park loan broker which specializes on loans under $1 million dollars. Prior to co-founding and becoming President of Cloverleaf, Mr. Rymer served as the CFO of RV Horizons. At RV Horizons, he had many responsibilities including serving as the company's Business Intelligence Officer in 2018. Brad received an MBA from Regis University and a BA in Fine Arts from Wabash College and began his real estate career with Marcus & Millichap in 2000 as a specialist in sales and marketing.

Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,500 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:
 
00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
00:51 - Brad’s journey into manufactured housing communities
04:24 - The most important things passive investors need to look out for when investing in mobile home parks
06:18 - Common mistakes on mobile home park financials that people should look out for
09:34 - The most valuable lessons Brad learned from his time as CFO at RV Horizons
11:25 - Lessons about mobile home parks which operators and investors should know
14:40 - Which models performed better over Brad’s time as CFO
22:00 - The analytics and data in mobile home parks
25:59 - The hurdles that the manufactured housing industry faces moving forward
29:50 - What happened in the multi-family sector
31:56 - How a $15 minimum wage would affect the industry
33:38 - Brad’s perfect mobile home park
34:55 - The value proposition at Cloverleaf Capital Group
38:00 - Brad’s last tip for operators and investors
40:32 - Getting a hold of Brad Rymer
00:00 - Conclusion

 

Links & Mentions from This Episode: 

Brad’s phone number at Cloverleaf: (303) 525-4850
Brad’s email address: brad@cloverleafcapitalgroup.com
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: 

“I think that the major thing that is important is knowing that the person who's driving the ship, the captain who's driving the ship knows the route.” - Brad Rymer

“In the current market's status, we’re in the cap rate compression area.” - Brad Rymer

“I would shrink that by 100–150 basis points today, and I'd say, buying it at a 7% cap and hoping to underwrite today at a 9%, or maybe selling it three, five years down the road at a 7% cap, maybe even lower.” - Brad Rymer

“There is some new development, but I would still say that developing new communities is going to be difficult.” - Brad Rymer


Brought to you by Andrew Keel of Passive Mobile Home Park Investing