Interview with Chad Freeman of MHPinvestors

Episode 74 March 29, 2022 00:31:38
Interview with Chad Freeman of MHPinvestors
Passive Mobile Home Park Investing
Interview with Chad Freeman of MHPinvestors
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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 Chad Freeman from MHPinvestors. Chad has a unique perspective on the manufactured housing industry and the real estate businesses as a whole. He shares his insights on the future of the mobile home park industry, mobile home park investing, and the lessons he has learned throughout his time investing in real estate. Chad and Andrew discuss the hurdles the industry could potentially face, as well as the perks during recessionary times.

Chad has been a part of the real estate industry since 2005. He made the jump from residential real estate to commercial real estate and has overseen all aspects of a business. Chad, is a pilot currently and also is taking the lead in scaling his company MHPinvestors to new heights with his co-founder.

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.

 

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast
01:21 - Chad’s story and journey into manufactured housing
05:50 - Chad’s first mobile home park and his current portfolio
11:11 - The toughest hurdle in the mobile home park business for Chad
12:17 - Managing mobile home parks
13:00 - What to look out for when investing in mobile home parks (most important)
14:56 - Chad’s perfect mobile home park
16:50 - Submetering and infill value add
17:54 - Financing new manufactured homes
18:35 - Mistakes that Chad has learned from
21:17 - The cost to infill a used home versus a new mobile home

 

 

Links & Mentions from This Episode: 

Google Voice number: 702-706-6904
Chad Freeman, email: i[email protected]
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/
Twitter: @MHPinvestors

  

 

Quotes: 

“I had no clue what I was doing. I didn't even know what due diligence meant. I bought this place in Elizabeth Seaport, which you don't want to buy a place there, I'll just say that.” - Chad Freeman

“When you purchase the correct property, I think it's hands down the best investment you can make anywhere in real estate today.” - Chad Freeman

“We had people telling us on the phone, do you guys have any idea how hard it is to break into this business when you don't want any properties? I just took it as a challenge and made it happen.” - Chad Freeman

“Do some research on who you're dealing with.” - Chad Freeman

 

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