Interview with Mike Conlon of Affordable Communities Group

46:49
 
שתפו
 

Manage episode 328062569 series 2735199
על ידי Andrew Keel התגלה על ידי Player FM והקהילה שלנו - זכויות היוצרים שמורות למפרסם, לא ל-Player FM, והשמע מוזרם ישירות מהשרתים שלכם. הירשמו כדי לעקוב אחר עדכונים ב-Player FM, או הדביקו את כתובת העדכונים באפליקציות פודקאסט אחרות.

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 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: mconlon1@gmail.com
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/

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

89 פרקים