Interview with Shawn Dwyer of Golden Oak REI

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 a special guest, Shawn Dwyer of Golden Oak REI.

Shawn Dwyer has 19 years experience as a tech executive for a Fortune Top 30 Corporation and owns an 87 lot mobile home park in Maryland, which he bought in September 2022.

Although Shawn is fairly new to the Mobile Home Park industry, he offers a fresh and unique perspective. In this episode of the Passive Mobile Home Park Investing Podcast, Shawn Dwyer and Andrew chat about the hurdles, lessons and experiences that Shawn has faced within his first mobile home park investment venture over the last year. Shawn also talks about how he missed out on his “Unicorn mobile home park property,” how he sourced and acquired his first mobile home park by partnering with an experienced operator, and what he thinks will happen to the Mobile Home Park asset class in the near future.

***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 2,500 lots under management. His team currently manages over 40 manufactured housing communities across more than 10 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. Check out KeelTeam.com to learn more.

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.

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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

00:46 - Shawn Dwyer’s story and how he got into Mobile Home Park investing

03:51 - Leadership qualities needed for working in mobile home parks

06:37 - The acquisition of his 1st mobile home park investment

08:34 - Lessons learned from his first mobile home park and his future plans with Mobile Home Park investing

11:55 - Shawn’s mobile home park investing strategy

14:17 - Lessons learned in regards to mobile home park utilities

16:53 - Infill on vacant mobile home park lots and finding MHP contractors

19:53 - The affordability of housing and Mobile Homes as a solution?

23:03 - Funding equity & finding partners when investing in mobile home parks

25:27 - Tips for mobile home park syndication deals

26:43 - Unicorn properties, Shawn’s perfect mobile home park looks like this

29:34 - How large lot rent increases can hurt a mobile home park community

31:00 - The importance of staying educated in the mobile home park industry

32:30 - Reaching out to Shawn Dwyer (mobile home park investor)

32:47 - Conclusion

Links & Mentions from This Episode:

Golden Oak REI: https://goldenoakrei.com/

“The Mobile Home Park Manifesto” by Glenn Esterson, The MHP Expert: https://www.themhpexpert.com/buy-the-book-the-mhp-manifesto/

“Trailer Cash: How To Cash in On the Low-Income Housing Investment Boom” by Jamie Smith: https://www.amazon.com/Trailer-Cash-Low-Income-Housing-Investment/dp/193524535X

Keel Team's official website: https://www.keelteam.com/

Andrew Keel's personal website: https://www.andrewkeel.com/

Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel

Passive Mobile Home Park Investing Podcast Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Passive mobile home park investing podcast Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

“For myself, it's looking for more of those stabilized deals with a little bit of value add capability, whether it be rent increases, utility bill backs, moving in some additional homes, doing some upgrades.” - Shawn Dwyer

“We checked with water operators ahead of time, as well as the power company and the community in the area very infrequently loses power. So as of right now, there's not much risk.” - Shawn Dwyer

“The affordability factor is real. Your service workers, where are they going to live?” - Shawn Dwyer

“Know what the area looks like. Do your due diligence to understand what that area looks like for not only growth, jobs, but what sort of housing options are out there for folks.” - Shawn Dwyer