Interview with Mike Conlon of Affordable Communities Group

Passive Mobile Home Park Investing

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 MHP legend Mike Conlon. Mike is currently leading Affordable Communities Group, also known as ACG, with his vast knowledge of the manufactured housing industry having been in it for over 15 years. Andrew and Mike discuss the future of the mobile home park industry and how it will fare with our potentially rocky economy. Mike also answers Andrew's questions about property managers, mobile home park investments versus apartment investments, and mobile home park value-add components.

Mike Conlon is President and CEO of Affordable Communities Group, LLC who currently owns 44 mobile home communities and RV parks with approximately 6,200 spaces in 6 states. Mike is also the author of "Unconventional Wealth: How to Become A Main Street Millionaire Helping Others Get What They Need."

***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 2,100 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.

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

01:32 - Mike's story and his journey into Mobile Home Park investing

05:58 - The toughest hurdle for most operators in Mobile Home Park ownership

08:36 - Big differentials between apartments and Mobile Home Parks

09:45 - How Mike educated himself on Mobile Home Parks and good advice

16:20 - The most difficult value-add in Mobile Home Parks

18:42 - Mike's team at Affordable Communities Group, LLC

20:54 - How to find and keep good on site managers

22:54 - The toughest hurdle for operators in Mobile Home Parks right now

25:40 - The future of Mobile Home Park investing and how they fit in with the direction of the economy

33:00 - Recent negative press with big groups in mobile home parks

37:52 - The investment fund model vs. syndications

40:23 - Mike's perfect Mobile Home Park and why

43:19 - Mike's opinion about third party property management

44:37 - Connecting with Mike Conlon

45:15 - One last tip

46:06 - Conclusion

Links & Mentions from This Episode:

Mike's email: [e-mail]

Affortable Communties Group website: https://acgmhc.com/

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 got some guidelines now, but I think the toughest thing is just not to have paralysis by analysis where you're just too afraid to jump in." - Mike Conlon

"You just got to go do it now." - Mike Conlon

"I think right now, if you're younger and newer in the business, you're going to make your money from the value add deals because everything is expensive." - Mike Conlon

"Get good people, treat them well and overpay them what they can get anywhere else." - Mike Conlon