Interview with Alex Donnolo of Mavdon Investments

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 reconnects with a previous guest on the show, Alex Donnolo of Mavdon Investments.

Alex Donnolo is the founder of Mavdon Investments, founded in 2019 and owns a $15 million portfolio of commercial real estate totaling over 600 units with a specialty in mobile home parks and RV parks.

In this episode, Andrew and Alex discuss Alex’s unique strategies for investing in real estate, his in house property management team and how he acquires mobile home park investments. They also talk about infill, the benefits of tenant owned homes versus park owned homes and the metrics Alex uses when investing in a mobile home park.

With his background in commercial real estate and his keen eye for a good mobile home park investing deal, Alex shares with listeners why he feels smaller is sometimes better.

***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

01:00 - Alex Donnolo’s background and journey into mobile home park and RV park investing

05:55 - Keeping everything as simple as possible

12:20 - Buying smaller mobile home park investments

19:25 - Properly inspecting mobile home park utilities

21:07 - How to replenish capital

22:45 - Mobile home park investors, taxes, and due diligence

27:18 - Alex’s perfect mobile home park

31:07 - Aging mobile homes and “grandfathered-in” mobile home parks

33:19 - Reaching out to Alex Donnolo

33:38 - Conclusion

Resources/Links:

Alex’s website: https://www.alexdonnolo.com/

Alex’s instagram: https://www.instagram.com/alexdonnolo

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Links & Mentions from This Episode:

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:

“For me, it's easier to take sort of a small development or acquisition fee, like a $25 ,000 acquisition fee and do four deals a month or three deals a month kind of deal, then try and bank everything on one big project.” - Alex Donnolo

“We've hit our exits on these and sometimes we just need to sell. Rather than refinance, we sell.” - Alex Donnolo

“It's so easy to just pick up wholesaler wholesale deals work with those guys I get pocket list things from brokers.” - Alex Donnolo

“The small amenities matter.” - Alex Donnolo