Manage episode 291549056 series 2735199
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 manufactured housing community investment fund manager Mark Khuri. Mark is the co-founder of SMK Capital Management, an investment firm which provides investors with passive income and growth through the creation of partnerships in private commercial real estate opportunities. Mark has been investing in real estate for over 15 years and has transacted in over $1 billion worth of real estate, including mobile home parks, self-storage, multifamily, and others.
Today, Andrew and Mark talk about what the future of mobile home park investing looks like. They discuss Mark’s unique perspective as he provides his expert opinion on the industry direction with possible inflation on the horizon. They also talk about Mark’s niche alternative investments, including ATM’s. The guys also touch on the $15 minimum wage, Mark’s perfect mobile home park, and the story of how Mark got into real estate and mobile home parks specifically.
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.
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.
Links & Mentions from This Episode:
“It’s been a while since I’ve quoted that information but, my gosh, mobile homes are just not mobile and there’s plenty of data to prove that. Very good fundamentals there for sure.” - Mark Khuri
“You can have the nicest mobile home park in the best part of town and if you’ve got the wrong people operating it, managing it, overseeing it, et cetera, you’ll lose money.” - Mark Khuri
“Typically what we look for in this space is to be the most affordable housing solution in the area.” - Mark Khuri
“We’ve never lost any money, investor money, in commercial real estate investing and we’re proud of that.” - Mark Khuri