Interview with Derek Vickers from Vicktory Real Estate 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 Derek Vickers from Vicktory Real Estate Group. Derek and Andrew discuss the most important aspects that limited partners and passive investors need to look out for when investing into mobile home parks passively. They also discuss how interest rates are changing investing strategies and how park owned homes are likely a higher risk than tenant owned homes during a tougher economy.
Derek started his mobile home park investing journey with his first mobile home park purchase in September 2020 after 10 years in the insurance business as a sales manager. He currently owns and operates 2,000 lots across 38 different mobile home parks throughout the southeast, 23 of those being in Florida. Victory Real Estate Group specializes in turning around neglected mobile home parks by increasing occupancy, converting park owned homes to tenant owned mobile homes and reducing operating expenses. With a busy schedule Derek enjoys spending time with his wife and daughter and has another baby on the way!
 
***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 2,000 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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Talking Points:
00:21- Welcome to the Passive Mobile Home Park Investing Podcast
02:10- Derek's journey into manufactured housing communities
08:00- Balancing mobile home park management and sales when you're going through a lot of growth
10:40- Derek's first mobile home park deal
11:40- How Derek self-educated before cold calling mobile home parks
13:40- The toughest hurdle to overcome in mobile home park investing
18:04- Derek's current mobile home park investing strategy
21:10- How Derek converts parks from park-owned homes to tenant-owned homes
23:50- Smaller parks versus bigger parks: management and expense ratios
25:30- Mistakes that Derek made
28:30- The most important things that limited partners and passive investors need to look out