Manage episode 294461672 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 Dylan Stewart and Alex Donnolo of Mavdon Investments. Dylan and Alex bring their youthful enthusiasm and excitement to this week’s episode as they talk about their first mobile home park deal, the future of Mavdon Investments, their due diligence process, and their journey into the manufactured housing industry. Don’t let their youth fool you, Dylan and Alex are very knowledgable on the mobile home park business. They share what they’ve learned and how they continue to learn about this evolving industry. Don’t miss all of the golden nuggets this episode has to offer!
Dylan and Alex have always had entrepreneurship in their blood. Separately, they were both in the single-family home investing business before partnering and forming Mavdon investments.
Their first mobile home park deal came about at the end of 2018 just outside of St. Louis, Missouri. They’ve gone on to close on six more parks. They currently own 117 lots and are closing on another 176 this month! They have created and maintained a fantastic team and their goal is to help educate others in the business.
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.
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Links & Mentions from This Episode:
“We’ve got a great team around us so we can focus on doing what we need to do, so we can work in the business and work on the business.” - Dylan Stewart
“Being younger entrepreneurs, we want to master the operational side of things.” - Dylan Stewart
“Now our management system is really the key to our success.” - Alex Donnolo
“All we knew going in was that it was clean cash flow.” - Alex Donnolo