Interview with Owner/ Operator Roger King of Kings Unlimited LLC

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 interviews Roger King, founder of Kings Unlimited LLC.

Roger King operates a multifaceted real estate portfolio exceeding $50 million in asset value, strategically spread out across 13 states throughout the United States. Notably, his main focus is on fixing up and investing in mobile home parks.

In this episode, Andrew Keel and Roger King explore the importance of avoiding analysis paralysis and embracing calculated risks for substantial success in mobile home park investing. They discuss and emphasize the necessity of taking chances to achieve significant (above market average) returns. Additionally, they dive into their mobile home park investing deal criteria, with Andrew setting a threshold of above 50 lots and access to public utilities within 40 minutes of a metropolitan statistical area (MSA) and a population of at least 50,000. Roger, on the other hand, discusses his preference for properties at least hovering around 60% occupancy to ensure cash flow from day one.

Roger King shares pearls of wisdom detailing his proven model and strategy for mobile home park investing, along with insights from his 27 year real estate investing journey. Through his experience, listeners will gain valuable insights into the actions that have propelled Roger to success in mobile home park investing, affording him the luxury of reaping rewards while unwinding on the beaches of Puerto Rico where he lives for the tax benefits(which they talk about) and lifestyle preference.

***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 3,000 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 value-add 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

01:26 - Roger King’s journey into manufactured housing community investing

03:50 - Living in Puerto Rico and the tax benefits for real estate investors

09:20 - Roger King’s first mobile home park investment deal

13:00 - Finding the right people within the mobile home park asset class

16:38 - Getting mobile home park deals done while interest rates are high

21:44 - Roger’s current mobile home park investing criteria and mobile home park investing strategy

27:45 - Understanding what the ethics are of a mobile home park general partner

30:50 - Bite-sized mistakes made when investing in mobile home parks

32:36 - Roger’s perfect Mobile Home Park

33:00 - Interest rates will start to drop and mobile home park prices will increase??

36:48 - The rough mobile home park communities are deteriorating

39:00 - Getting a hold of Roger King of Kings Unlimited LLC

40:31 - Get into this particular sector: mobile home park investments rock!

42:11 - Conclusion

Links & Mentions from This Episode:

Roger King: https://www.rogerking.com/

Roger King’s FB page: https://www.facebook.com/rogerkingrealestate1

Roger King on Instagram: https://www.instagram.com/therealrogerking/

Connect with Roger on LinkedIn: https://www.linkedin.com/in/therealrogerking/?originalSubdomain=pr

Check out Roger’s YouTube videos: https://www.youtube.com/@therealrogerking

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:

“The toughest hurdle, I would say right now, and I believe it's changed, is if you're buying a (mobile home) park and your intention is to fix it up, reposition it, like the majority of our work is, are the contractors and pricing materials.” - Roger King

“We're getting much more discerning with those experiences. We've got a good (mobile home) park, we've had a not so good park, we've had some small parks, we've had some big parks.” - Roger King

“Passive investing isn’t fully passive.” - Roger King

“The specifics for the manager has to get ironed out on Day -10.” - Roger King

“The onsite manager can make or break the deal.” - Andrew Keel