Interview with Ryan Hill and Brett Bowman of Suncrest Capital

Episode 84 July 05, 2022 00:36:40
Interview with Ryan Hill and Brett Bowman of Suncrest Capital
Passive Mobile Home Park Investing
Interview with Ryan Hill and Brett Bowman of Suncrest Capital
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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 Brett Bowman and Ryan Hill from Suncrest Capital. Brett, Ryan and Andrew discuss the following in this value packed episode: different tools/ software they use for managing mobile home parks, some lessons they have learned along the way and their preference in regards to tenant-owned homes and park-owned homes. Both Ryan and Brett have full time day jobs in addition to managing their portfolio of mobile home parks, on this episode they share with us how they balance their time and what transferable skills they've obtained from their initial profession.

Suncrest Capital is a fast-growing real estate management company with over 600 lots and over $30 million in assets under management. Brett has previously invested in a variety of property types, from multi-family and single-family rentals, industrial lots, to mobile home communities. Ryan has more than thirteen years of experience in real estate and has had over $41 million in sales transactions over his career. He is both a mobile home park owner and an operator. Both Brett and Ryan are chief officers at Suncrest Capital, with Brett being a chief investment officer and Ryan wearing the hat of chief operating officer.

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. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. Thanks ahead of time for making my day with your five-star review of the show.

Would you like to see 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
02:00 - Brett and Ryan's journey
04:00 - Ryan's first mobile home park
05:45 - How their other jobs help them manage mobile home parks
06:45 - Mistakes they have learned from
11:35 - Suncrest's strike zone for mobile home parks
14:00 - Brett and Ryan's thoughts on infill
16:00 - Their six-month order with Legacy Housing
17:50 - Getting educated on mobile home parks
21:00 - Some hard lessons about the industry
24:45 - Tools that Ryan and Brett use
26:26 - Advice for passive investors looking to invest in their first mobile home park deal
29:55 - Their perfect mobile home park
32:16 - Tenant-owned versus park-owned homes
32:52 - The future of the mobile home park industry
35:00 - Getting a hold of Brett and Ryan
00:00 - Conclusion

  

 

Links & Mentions from This Episode:

PEPs (Performance Equity Partners): http://peplending.com/
Keel Team's official website: https://www.keelteam.com/
Andrew Keel's official website: https://www.andrewkeel.com/

 

Quotes:

"Just becoming adept at creating efficient systems and leveraging the talents of other people to achieve your goal. It's similar in education with teachers and staff in helping students learn the best they can." - Ryan, on how being an elementary school principal has helped him manage operations of mobile home parks

"In my mind, the most painful lessons are usually people-related in a sense that hiring the wrong person or having the right person maybe and doing the wrong job, for example.." - Brett

"We have a team of VA's. They comb Facebook marketplace and in radius around the markets that we're in, finding used homes." - Ryan

"One of the things that we've been implementing in the last few months, we read this book called 'Traction' by Gino Wickman. I highly recommend it if you haven't read it before. It's all about creating systems, really for startups." - Brett

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