Andrew Keel, CEO of Keel Team LLC, heads a ‘MHU Top 100’ company managing 2,000+ lots across manufactured housing communities. He has 30+ communities, 11 self-storage facilities, and a $97M+ real estate portfolio. As host of The Passive Mobile Home Park Investing Podcast with 150+ 5-star reviews, Andrew excels in transforming under-managed housing and storage sites. His hands-on strategies boost occupancy, trim costs, and heighten asset value, making him a driving force in the industry.
Here’s some of the topics we covered:
- From Sales Manager To Mobile Home Park Buyer
- Fix and Flip, Single Family, and Wholesaling Real Estate
- Cold Calling Pitch Example That Andrew’s Team Uses
- Hidden Tricks For Mobile Home Park Deals
- Disadvantages of Mobile Home Parks As An Asset Class
- Advantages of Mobile Home Parks As An Asset Class
- Average Cap Rates For Mobile Home Parks
- How To Talk To Elderly Sellers & Build a Relationship
- Andrew’s Iron-man Experience
To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com
Full Transcript Below
00:00:00:00 – 00:00:16:19
Rod
Welcome to another edition of Life Time Cash Flow Through Real Estate Investing. I’m Radcliffe and I’m thrilled you’re here. We’re going to have a different topic today at today’s interview. We’re going to talk about mobile home park investing, which is something I know a lot about and like a lot. And so we’re gonna have a lot of fun today.
00:00:16:20 – 00:00:32:11
Rod
So the gentleman we’re interviewing, his name is Andrew Kiehl, and he is the CEO of Kiehl team. Oh, that’s cool. Kind of like SEAL team. Love that. And he’s in 2000 lots. He’s also in some self-storage. And we may talk about why he’s not doing that anymore. And we’re going to some fun today. Welcome, brother.
00:00:32:17 – 00:00:33:15
Andrew
Hey, thanks for having me.
00:00:33:16 – 00:00:45:24
Rod
Absolutely. So why don’t you start the way we always start out and just give you a little bit of your history? You know, where you came from, what you do before real estate, why real estate, and maybe the different asset class transitions you made.
00:00:45:26 – 00:00:56:15
Andrew
Yeah. So I started out, you know, as a sales manager selling marketing materials in Orlando, coming through at this on the side, I started getting into.
00:00:56:17 – 00:00:59:29
Rod
Like, like you talking about like pens with names on them and of, like.
00:00:59:29 – 00:01:11:09
Andrew
Names on them, like design, You guys like designs. And we specifically targeted realtors. And Keller Williams was like our main brokerage that went to all their conferences, you know, the trade show booths, all that kind of stuff.
00:01:11:10 – 00:01:23:27
Rod
Well, listen, you’re sitting in a in a coveted seat here. I interviewed Jay Pepper, son, who was a coauthor of The One Thing with Gary Keller. So, yeah, there you go. Very cool. Now, Kerry Keller Williams is an awesomely run organization. Sorry, interrupted. Please continue.
00:01:24:00 – 00:01:42:23
Andrew
Yeah. No. So I did that for four years, you know, had a good time on the side. I started fixing and flipping and wholesaling in Orlando. In Orlando. And through doing that, I sent out some yellow letters and got a response on two manufactured homes up in Ocala.
00:01:42:25 – 00:01:58:24
Rod
And so so what he’s talking about, guys, if you’ve never done your real estate, you know, they call it they call it yellow letters or bulk email or all these crazy things that that where you send something that is unusual and that grabs people’s attention. So it’s an actual letter on yellow paper is what he’s talking about.
00:01:58:28 – 00:02:18:16
Andrew
Exactly right. Exactly. So got you know, we’re flipping just a couple of houses a year. Income was inconsistent, but it was like on the side of the sales gig. And yeah, I got a lead on these two manufactured homes and the guy wanted 20 $200 cash. He had the titles. I didn’t know anything about them. I just knew they had to cost more than 20 $200 to build these things, right?
00:02:18:22 – 00:02:27:13
Andrew
So I went up there and bottom, came down and got on YouTube and typed in how to make money with mobile homes in. This guy named Lonnie Scruggs popped up. Oh, good God. Have you heard of that now?
00:02:27:13 – 00:02:33:17
Rod
Oh, my God. He’s been around forever. Yeah, like Lonnie Scrubs has been around a long time. So, anyway, you read his book?
00:02:33:24 – 00:02:43:04
Andrew
Read his book? Deals on wheels. Right. And basically goes up a little bit and then sold them on contract to and buyers that we’re going to be leaving.
00:02:43:04 – 00:02:44:21
Rod
Them on the lots where they were leaving.
00:02:44:21 – 00:02:45:01
Andrew
Them where they.
00:02:45:01 – 00:02:47:26
Rod
Were. So you got the 2020 200 Got you a lot, too?
00:02:48:02 – 00:03:03:21
Andrew
No, no, no, no. These were in a park. Well, they were in this was just for the homes. Got, you know, had two titles. Got you 1100 bucks apiece to buy these homes and I’ve cleaned them out a little bit. You know, they were old and, you know, fixed them up very minimal. Right. Like less than 500 bucks and then put them on Craigslist.
00:03:03:21 – 00:03:20:20
Andrew
And the demand was just off the charts. It was like crazy, like 25 people were like, here’s here’s my money. And I listed them for 20 $500 down in $250 a month for five years. Wow. And the demand was just in crazy, you know, insane. So I went on to do, like 19 more of those Lonnie deals. Wow.
00:03:20:22 – 00:03:46:10
Andrew
And that covered all my monthly expenses. It was just my wife and I at the time. We had a small little apartment, and I was able to then leave my day job because my expenses were covered. And, you know, I met a park owner in Ocala, actually, that, like, kind of took me under his wing and and was actually giving me homes to rehab and then to sell because he just wanted the lot rent, which at the time I was like, oh, this guy is not a very savvy investor.
00:03:46:10 – 00:03:47:05
Andrew
He’s giving you the.
00:03:47:05 – 00:03:49:12
Rod
Home learn since then. Yes.
00:03:49:15 – 00:04:05:01
Andrew
Yes. So I was I thought I had it made. And then he he he taught me about like syndicating and how you can raise money from investors. You don’t have to have all the money yourself for the down payment and such. And I just went all in. I just literally stopped flipping houses and just just dove into.
00:04:05:03 – 00:04:10:09
Rod
To buying parks. Yeah, that’s right. What size parks did you first buy? Just curious How many Lots.
00:04:10:11 – 00:04:13:03
Andrew
My very first park was 67. Lots. Oh, that’s good size.
00:04:13:09 – 00:04:27:11
Rod
I was. You know, most people are. They don’t understand. You don’t want to get under like 40 or 50 because you need a manager on site. Otherwise, you’re the manager. That’s right. So, okay, so. So you got some good advice? Yeah. You learned under Frank and Dave. These are a couple of guys that teach people how to buy mobile home.
00:04:27:11 – 00:04:46:15
Rod
Parks have been around forever. I even went to a couple of their bootcamps myself. Like we talked about we store before we started recording. And guys, there’s a there’s a clue there. Okay, I want to learn mobile home parks. I’ve bought and sold more real estate than most people will ever sell in their lifetimes. And I went to a bootcamp to learn what I wanted to learn.
00:04:46:21 – 00:05:07:12
Rod
And you guys know my boot camps coming up for multifamily. So if you want to learn multifamily, get your butt to my boot camp. If you dm me on any social and remind me, I’ll get you in 497 bucks. It’s three days in Orlando where Andy’s from and and there’s, you know, it’s not a big sales pitch. So anyway, I just wanted to digress for a moment.
00:05:07:12 – 00:05:14:08
Rod
I mentioned that, but so So you start buying parks. Did you do this by yourself or did you team up with somebody?
00:05:14:10 – 00:05:30:00
Andrew
Did it by myself, But I had mentors, you know, I had the Frank and Dave Boot camp, also a really nice gentleman in the Orlando area where I’m from. Ryan Smith of Elevation Capital kind of took me under his wing and helped me, you know, get on my journey to kind of identify the first park and things like that.
00:05:30:00 – 00:05:32:09
Andrew
But yeah, it was.
00:05:32:11 – 00:05:49:08
Rod
There you go and you’re off to the races. So, you know, I it’s hard for me not to just spout what I know here because I’ve learned so much because I was going to do this. As I was telling you, I had eight virtual assistants literally map out pretty much every mobile home park in the country. And I’ll see the guys.
00:05:49:08 – 00:06:11:20
Rod
The thing of it is with mobile home parks is a lot of them are misclassified on the county records. And so what I do is I’d have these these these Vas virtual assistants in the Philippines actually, and they would go on Google Earth and they would we used an overlay that showed who the owners were if they circled over a particular asset and they would find mobile home parks that weren’t classified.
00:06:11:20 – 00:06:31:01
Rod
So we found deals nobody knew about. And and just as an aside, I was paying six of them a dollar 93 an hour each full time. So I had six people working for under 12 bucks an hour. True story. And I wasn’t taking advantage of them. They were happy to get it. But, you know, but mobile home parks is kind of its own little world.
00:06:31:01 – 00:06:37:19
Rod
And so talk about let’s start with how you found them. Did you do the same thing or what did you do to find.
00:06:37:21 – 00:06:47:22
Andrew
Very similar things? So Frank and Dave, as part of the boot camp, they give you a list of, you know, 44,000 mobile home parks and we just re Skip traced them and Oh, you.
00:06:47:24 – 00:06:54:10
Rod
Okay because that’s a real picked over list I so so you re skip trace and refined who the current ownership was. Got it Yeah I was smart Yeah.
00:06:54:15 – 00:07:01:25
Andrew
And then we just started called Colin and that’s the same thing with was when we got into storage is just cold calling and all of our stuff has been bought off market.
00:07:01:25 – 00:07:03:25
Rod
So you personally doing the cold calling.
00:07:03:27 – 00:07:05:25
Andrew
Not not at this point we have but back.
00:07:05:25 – 00:07:06:08
Rod
When we bought.
00:07:06:10 – 00:07:07:21
Andrew
But back then it was me. Yeah.
00:07:07:27 – 00:07:10:01
Rod
So you’ve got a team of people still doing cold calling.
00:07:10:02 – 00:07:12:12
Andrew
That’s right. Yep. Four people part time.
00:07:12:14 – 00:07:13:29
Rod
Give me the pitch.
00:07:14:01 – 00:07:30:20
Andrew
So we are. That’s a good that’s good. So the first question we ask is we and we assume that we know the person, so we’ll be like, Hey Rod. And then the guy, you know, the seller would be like, Hello? Yes. You know, like thinking it’s an old friend or something. We say, Hey, I’m calling about that mobile home park over there on one, two, three Main Street.
00:07:30:22 – 00:07:47:17
Andrew
And they say, okay, yes, you say, Yeah. Would you be interested in hearing an offer for that? And then they would say, Oh no, I’m not interested in selling, right? I mean, like, are you you’re not at least open to hearing an offer. And then they would, you know, you just kind of bait them into it and they say, no, no, I’m not interested.
00:07:47:17 – 00:08:03:03
Andrew
And then you just go right into the questions that you need to get the offer. So you say, okay, how many lots do you have? Oh, it’s 51 lots. And you say, Oh, and, and then you confirm because our our CRM pulls it up on, on Google. So is this the one that’s right across. Just want to confirm this is the right ones is the one across from the Taco Bell over there on.
00:08:03:03 – 00:08:04:19
Rod
Main which makes them think you drove by it.
00:08:04:19 – 00:08:12:19
Andrew
Exactly right And then you confirm it and then you start asking, okay, and how’s the utility set up? Is it public or private? Okay. And then.
00:08:12:22 – 00:08:17:03
Rod
By the way, that’s the biggest question, probably the most important question. When you’re buying a mobile home park.
00:08:17:08 – 00:08:18:01
Andrew
It definitely is.
00:08:18:07 – 00:08:18:22
Rod
Yeah. Yeah.
00:08:18:23 – 00:08:21:05
Andrew
Because the utilities, I mean, they can get I’ve seen everything.
00:08:21:05 – 00:08:40:27
Rod
I’ve seen ponds, those ponds. Michigan go to the lagoons. Yeah. All the crap goes into this lagoon. Yeah. True story. And you do not want to mess with those and you know, and even the sewer plants, I mean the sewage plants, if one of those goes out, it can be 1,000,000 million bucks easily. Yeah. Yeah. So, so you know, there’s some pitfalls and we’re going to talk about that a little more.
00:08:40:27 – 00:08:49:14
Rod
I’m sure I’m bumpin ahead. So so that was that’s kind of the pitch. And then then, you know, and then how do you what’s the pitch close. What’s, what’s the final cost.
00:08:49:14 – 00:09:02:06
Andrew
It will give it will make him a, you know, a quick value. Right. And you say, hey, you know what, a lot rent, we’ll do our little equation and say, okay, well, you know, it looks like we walk him through. Okay, you know it bringing in this much per month, this much annually, you know, typically is around 35.
00:09:02:11 – 00:09:03:29
Rod
And hung up by this point.
00:09:04:02 – 00:09:17:28
Andrew
Typically, you know, we’re just baiting them, keeping them on. You know, people are trying to just be nice and and listen to you. Listen to you. But but yeah, then we give a value. And typically they’re like, oh, no, you know, I’m nowhere near that. And you just fire back real quick. Like, okay, what number would work? And then we just try to start again.
00:09:18:02 – 00:09:23:17
Rod
Kids Wow, Wow. So, so and I’m sure that you pay them hourly and then you spiff them if they get an appointment.
00:09:23:21 – 00:09:31:03
Andrew
That’s right. Yeah. Or they get an appointment or they get a deal that closes, you know, and then like those are be the cold callers and they would funnel it up to the closers as a warm lead.
00:09:31:08 – 00:09:32:14
Rod
You have more than one closer.
00:09:32:17 – 00:09:32:29
Andrew
We do we have.
00:09:32:29 – 00:09:36:03
Rod
Two to closers. Wow that’s that’s high volume four.
00:09:36:03 – 00:09:42:29
Andrew
And the reason is is because we have a whole wholesaling wing. Oh, we wholesale storage and mobile home parks as well. And that kind of helps fuel the funnel.
00:09:43:00 – 00:09:48:12
Rod
Gotcha. Gotcha. Interesting. Interesting. And this is all in Orlando. You actually have an office where they work. Are they virtual?
00:09:48:15 – 00:09:49:06
Andrew
They’re all virtual.
00:09:49:06 – 00:10:04:07
Rod
They’re all virtual. Yeah. Okay. The reason I’m asking is I’m actually thinking about doing something similar myself. I’m thinking about doing peripheral business off to the side, and I’ve been debating a sales team for it. But, you know, I look at Grant Cardone, I look at people like Ryan Pineda and they’ve got it all in house. So they’ve got, you know, bells.
00:10:04:07 – 00:10:19:02
Rod
They ring and they got boards and they got contests and all that stuff. And so I was wondering if if you could be very effective, virtually So sorry. I’m going to digress for a minute, guys. Just humor me because I’m this is for my own edification. How do you hold them accountable for the calls? How do you motivate them?
00:10:19:02 – 00:10:23:17
Rod
How do you keep that a culture that makes sense on your sales team if they’re all virtual?
00:10:23:20 – 00:10:29:21
Andrew
Yeah. So the first thing is the call tracking. We use smartphone and then we have a smart dialer that like dials.
00:10:29:21 – 00:10:30:06
Rod
For them well.
00:10:30:06 – 00:10:41:04
Andrew
Dial forms and we keep track of the call numbers. We have a sales manager that’s doing, you know, twice weekly meetings where they’re getting we’re listening to their calls and giving them feedback. Okay. Um, but yeah, I mean I.
00:10:41:04 – 00:10:42:15
Rod
Think tests and stuff like there’s.
00:10:42:15 – 00:10:48:20
Andrew
Contests and different, you know, scenarios that we kind of incentivize and things like that.
00:10:48:22 – 00:10:56:27
Rod
So that’s how you find them. So let’s talk about the challenges with mobile home parks. I alluded to the big one, but let’s let’s elaborate on that one and please tell us about challenges.
00:10:57:03 – 00:11:01:15
Andrew
Yeah. So I think the private utilities is something we stay away from, you know, Well, water.
00:11:01:17 – 00:11:23:02
Rod
You won’t even do it. Yeah. So, so like, well, water and a septic system because if that well goes out you are effed in the water, right. Yeah. I remember when Kevin, we were talking about my friend Kevin Bob, who’s one of my best friends, and he does mobile home parks in a big way as well. And, and he, he did do some private, but he would always price out connecting to public acting.
00:11:23:05 – 00:11:23:25
Andrew
Yeah.
00:11:23:27 – 00:11:28:09
Rod
And so, So you don’t even mess with private. If it’s not public, you’re not interested.
00:11:28:09 – 00:11:44:28
Andrew
Exactly. And right now there’s there’s so many mobile home parks out there that are owned by mom and pops, like 70% of still parks are still still owned by mom and pops, that own one asset. Wow. So when we’re targeting, you know, these these these people, we’re targeting public utilities because we don’t want to mess with it. There’s liability, too.
00:11:44:28 – 00:11:51:27
Andrew
You know, you had to get chlorine reads every day. And if your person isn’t doing that, you could potentially poison. Right? Right. An entire community.
00:11:51:27 – 00:11:54:02
Rod
Or the whole community get shut down or get.
00:11:54:02 – 00:11:54:14
Andrew
Shut down.
00:11:54:14 – 00:12:03:28
Rod
Yeah. And then where are you? Yeah. So. Okay, so just public utilities. Anything else as far as pitfalls that someone should avoid if they’re ever thinking about, you know, doing this for business?
00:12:03:28 – 00:12:25:10
Andrew
Yeah. I think you touched on one is size. Size matters. The more you have, you can have more scale and your expenses are going to be lower, you know, due diligence is so important. You know, when I took the Frank and Dave Boot camp, right, I give you this book that’s like the 30 day due diligence handbook, and there’s like 50 checklist items, you know, our due diligence checklist now is over 350 items alone because every.
00:12:25:10 – 00:12:39:15
Rod
Stuff was so cursory. Yeah, I mean, yeah, yeah, I don’t want to slam them, but but, you know, it was very cursory. I remember. Yeah. And due diligence is critical. You know, even in our multifamily space, we’ve got these huge due diligence checklists and you’ve got it. You’ve got to.
00:12:39:15 – 00:12:39:21
Andrew
Go.
00:12:39:22 – 00:12:41:10
Rod
Got to kick over all the rocks, man, because.
00:12:41:10 – 00:12:45:01
Andrew
Yeah, and you learn stuff, I’m sure from every deal you’ve probably picked up something. Just like we.
00:12:45:03 – 00:12:46:12
Rod
Said, we’re always adding things and.
00:12:46:12 – 00:12:51:06
Andrew
It’s, it’s scary because we’ve made mistakes. You know, one of the mistakes we made was here.
00:12:51:09 – 00:12:52:17
Rod
I want to do Z. Give us a give us.
00:12:52:17 – 00:13:03:13
Andrew
Yeah, this is on my third mobile home park I ever bought. We were bringing in 20 brand new homes to fill vacant lots that were there. Right. And this is north of Memphis in a place called Covington, Tennessee.
00:13:03:13 – 00:13:04:10
Rod
I know it very well.
00:13:04:10 – 00:13:15:10
Andrew
And long story short, there wasn’t enough transformers and we got an electrical and electrician to go out and inspect all the pedestals. And he said, Oh, yeah, everything’s fine. You know, everything’s good.
00:13:15:10 – 00:13:16:13
Rod
You didn’t look at the main, but.
00:13:16:13 – 00:13:41:14
Andrew
We didn’t look at the main infrastructure. So these brand new homes, you know, they have you know, they have higher requirements, right. Than the older homes that were, you know, 60 amp compared to the 20 AMP or 200 amp. Now, so long story short, we’re having brownouts in these brand new homes and people weren’t getting enough juice. So there was daisy chains, there was like four transformers for the whole park and there was like 25 homes per transformer that that the juice was running off.
00:13:41:14 – 00:13:55:27
Andrew
So we had to go. And typically the power company would pay for those and replace and add the new transformers. Well this company would not. And we had to put them in and, you know, pay for that out of pocket. We didn’t raise that money, so we had to do a capital call.
00:13:56:02 – 00:13:56:22
Rod
How much?
00:13:56:24 – 00:14:00:16
Andrew
It was 60,000. Wow. Which, you know, at the end of the day.
00:14:00:16 – 00:14:06:04
Rod
Syndicated that deal. We and you actually raised that you had to do a capital call in the investors because you were skinny on it.
00:14:06:05 – 00:14:09:04
Andrew
That’s right. Back in 20 2018.
00:14:09:04 – 00:14:27:02
Rod
Wow. So there’s a lot of capital calls happening right now, I will tell you. Oh, big time. You know, I, I my my attorney that we use that my warriors all use big attorney in Dallas. He said half his business right now is capital calls forbearances and foreclosures half. Yeah. So it’s coming the trains coming down the track.
00:14:27:02 – 00:14:49:20
Rod
Well the beautiful thing about mobile home parks is they’re fairly immune from economic downturn because they’re pretty much the bottom rung on the demographic scale. And you’re not going to have people move out and find a cheaper place. Okay, So there is that. Let’s continue with the disadvantages, because I you know, I want to chat about the advantages because there’s a big one and we both know what it is.
00:14:49:20 – 00:14:52:14
Rod
But but talk to any more disadvantages that that I.
00:14:52:14 – 00:15:11:14
Andrew
Think, you know, a lot of people say, hey, the tenants own their homes. This is going to be completely passive. It can be easy to manage. And that’s just the farthest thing from the truth, right? It is heavily affordable housing. It’s it’s it’s management intensive. And there’s also not like with multifamily apartments, there’s a lot of great third party property managers, right?
00:15:11:14 – 00:15:13:27
Andrew
You can find. Yeah you don’t a mobile home parks.
00:15:13:29 – 00:15:35:17
Rod
Really none made maybe an A-class asset you know like here in Florida that’s got two or 300 doors. Yeah you could bring a management company in. Most of those are vertically integrated though because they can but but in the smaller stuff like you’re talking about. Yeah. No way. So so manage, you’re pretty much managing yourself. And I would say I forgot to mention this, my brother Al, he works with Kevin and manages his parks.
00:15:35:22 – 00:15:52:09
Rod
He’s in several parks. But the reason I knew about the size of these parks is, is he bought a 12 unit up in Tampa and he said it was the bane of his existence. And and you know, big mistakes are don’t buy a small mobile home park please. At least 40, 50 units, ideally 50 plus. Is that.
00:15:52:09 – 00:15:53:26
Andrew
That’s right. That’s our criteria. 50.
00:15:53:26 – 00:16:00:00
Rod
Okay. Yeah. So any other any other challenges or can we move on to the advantages?
00:16:00:05 – 00:16:00:25
Andrew
Let’s move on to.
00:16:00:26 – 00:16:04:02
Rod
All right. So the advantages so what’s the biggest advantage?
00:16:04:04 – 00:16:13:02
Andrew
I think it’s the supply constraint. You know, we’re like they’re not like there’s more mobile home parks torn down every year than there are new ones being built by a.
00:16:13:02 – 00:16:26:14
Rod
Long no no. Nobody wants a mobile home park in their backyard. So nobody I don’t care who you are. That’s not the one I was looking for. The one I was looking for is if someone does not pay you their lot rent, okay? They have to move their home.
00:16:26:21 – 00:16:27:04
Andrew
That’s right.
00:16:27:10 – 00:16:28:09
Rod
What does that cost?
00:16:28:15 – 00:16:29:22
Andrew
Oh, yeah. Around 5000.
00:16:29:22 – 00:16:44:16
Rod
5000 bucks just to move their home so they can’t afford to pay you their two, three, four or $500 in lot rent. How the hell are they going to come up with 5000 to move the home? So they will typically leave and then you resell the home to a to a somebody. Correct. Am I speaking to an attorney?
00:16:44:16 – 00:16:44:21
Rod
Yeah.
00:16:44:21 – 00:16:47:17
Andrew
You can file for abandonment, right? Get the title to their home.
00:16:47:20 – 00:17:05:10
Rod
Right. You end up owning the home. And and so, you know, that’s one of the big advantages. And, you know, people, you know, somebody will listen to this and say, you freakin sharks and, you know, it’s business. It is what it is when you were a Haiti victim, people. But it’s part of business. And, you know, it’s it’s sad but it but it happens.
00:17:05:12 – 00:17:08:11
Andrew
In on a win, right? It’s not a win when we have to evict someone. Oh no it’s.
00:17:08:11 – 00:17:20:29
Rod
A pain in the butt. No. And the place is probably trash. You got to put a lot of money into it. You know, these things don’t hold up like an apartment complex or apartment community. I mean, they are the walls are paper thin. Their floors are paper thin. You know, those.
00:17:20:29 – 00:17:23:13
Andrew
Are different sizes. Yeah. You have to sort of order rooms.
00:17:23:13 – 00:17:29:24
Rod
For hard to find windows, doors, cabinets, everything is different. And it’s hard to find that stuff and it’s a pain.
00:17:29:26 – 00:17:39:22
Andrew
And that’s a great reason that a lot of people don’t realize because some of these guys are like, Oh, I can get this thing to cash flow so much because I’ll just keep owning all the units right? I don’t have all park owned homes.
00:17:39:22 – 00:17:54:05
Rod
Oh, yeah, Yeah. So hold on, hold on, hold on. Let me let me elaborate on what you’re saying. So. So, guys, there’s two scenarios here. One is you just rent a lot rent. So everybody comes in there, owns their home. The other scenario is you own the homes and rent them out like you would a house or an apartment.
00:17:54:08 – 00:17:56:28
Rod
And don’t do that. Okay? Tell them why.
00:17:56:28 – 00:18:11:04
Andrew
That’s exactly right. Tell them because the repairs and maintenance expenses are higher than they would be on an apartment complex or otherwise. Because if you’re running a like a flat apartment complex, you’re going to have repairs and maintenance, you’re going to be in these units all the time. And that’s what you don’t.
00:18:11:04 – 00:18:28:15
Rod
Huge repair maintenance. Remember, this is the toughest demographic out there. Okay. This is the I don’t want to belabor it. I bet. I mean, it’s affordable housing. It’s. Yeah, Well, okay. I would I would say it’s wrong below that personally. But I mean, you know, it’s a lot of a lot of I’m like I say, a ton of crime.
00:18:28:15 – 00:18:57:05
Rod
But but it’s a tough it’s a tough crowd. You know, you mess with you mess with me. You mess with the whole trailer park right. Anyway, so, so, so but but other advantages, like you said, are they’re not building them anymore. So So if you can find them and and you’ve got that you know they’re fairly well locked in on the rent if you’re not too aggressive, you know, with raising it they’re still getting a better deal and then likely get anywhere else.
00:18:57:08 – 00:19:12:28
Rod
You know, you allow them to buy the home on terms, they buy the home on terms. And then once they’ve paid it off, then they’re only paying the lot rent. And, you know, I would guess that that that that reduces, you know, collection issues and eviction issues. Would that be an accurate statement? Totally. Okay. Because I’ve never operated one.
00:19:12:28 – 00:19:16:14
Rod
I’ve just I’ve dug into it in a big way, but I never actually pulled the trigger.
00:19:16:14 – 00:19:21:23
Andrew
So on that, when when the tenants own their homes. Right. The annual turnovers typically 5%, that’s it.
00:19:21:23 – 00:19:22:05
Rod
Okay.
00:19:22:05 – 00:19:27:24
Andrew
But if you got the park owned homes and they’re like, you know, making payments towards it, you’re going to have a more, you know, 50%.
00:19:27:27 – 00:19:32:05
Rod
Turnover and tons of maintenance costs. So they’re really tough on them. Yeah.
00:19:32:05 – 00:19:49:23
Andrew
And you know, sorry to cut you off there. Yeah. Another advantage is the financing. You know, there’s Fannie Mae and Freddie Mac are in the space and they have requirements where they want the parks to have 25% or less park owned homes. So that’s another reason why, you know, if you want the best in class financing, you buy it.
00:19:49:23 – 00:20:10:26
Rod
You buy the really nice parks like that. They’ve got it. I know they’ve got to have streets and curbs and some other things that that Fannie requires says right. From what I remember, you know and I suppose another disadvantage or or challenge potential challenge and I have this ever happened to you where a competing park will offer to buy people out of their homes and steal the homes?
00:20:11:00 – 00:20:19:14
Andrew
Yes. Okay. Yeah, that happens. And sparingly. It’s only happened to us once. I see. And, um. Yeah, I won’t mention it was a bigger group.
00:20:19:17 – 00:20:20:01
Rod
That was.
00:20:20:02 – 00:20:29:16
Andrew
Was doing that but yeah yeah that can happen where they try to like pull your coach, your home coach, your homes and pull them over to their place right. But it’s a two way street right.
00:20:29:17 – 00:20:31:25
Rod
Yeah. Yeah. You going to reciprocate. Yeah.
00:20:31:27 – 00:20:38:08
Andrew
Just good. Doesn’t lead down a good path. Right? So usually we just have a gentleman’s agreement. Hey, let’s just stay out of my park. Will stay out of it.
00:20:38:09 – 00:20:54:26
Rod
Right, right, right, right. Okay. Talk about the value. Add peace in a mobile home parks. You know, we know what it is in multifamily, you know, And I don’t. So I want to I want you to speak to where it’s similar and where it isn’t like in multifamily, any increase in the net operating income is an exponential increase to the value.
00:20:54:28 – 00:21:06:03
Rod
Same thing. Same thing. Same same. Okay. So, so when you go in and buy a park, talk about the process that you go through to increase the know why.
00:21:06:06 – 00:21:19:28
Andrew
Yeah, this is this is we only buy value add mobile home park occupancy is the easy one, right? You come in, the mom and pop owner is own it for 30 years and it’s 65% occupied. You bring in homes to fill the vacant lots. That’s that’s the place to actually.
00:21:19:28 – 00:21:21:14
Rod
Bring in used or new.
00:21:21:17 – 00:21:29:15
Andrew
What do you typically do both you know it depends on the still it’s harder it’s definitely harder but you know in certain markets you can okay you know.
00:21:29:18 – 00:21:31:14
Rod
What markets you in just as an aside the.
00:21:31:14 – 00:21:39:09
Andrew
Secondary Midwestern markets is what we’re targeting. So your Sioux Falls, South Dakota, Des Moines, Iowa, as well. You know, Fort Wayne and Indianapolis, those two.
00:21:39:16 – 00:21:43:08
Rod
Okay, gotcha. Gotcha. But you go in, you fill up the empty lots.
00:21:43:08 – 00:21:45:05
Andrew
Fill up the vacant lot.
00:21:45:05 – 00:21:47:23
Rod
Can you make money on the new ones?
00:21:47:25 – 00:21:49:18
Andrew
A lot of times you don’t. You just break.
00:21:49:18 – 00:21:57:04
Rod
Even, okay? No break. But but ultimately, once they’re paid off or sold or whatever, then you’re okay. But you got to get them in there to do it.
00:21:57:04 – 00:21:59:26
Andrew
And there’s financing programs for Buffalo.
00:21:59:26 – 00:22:00:26
Rod
Owns the big one, right?
00:22:00:26 – 00:22:02:12
Andrew
That’s right. 21st mortgage.
00:22:02:12 – 00:22:05:18
Rod
First mortgage. But not just the mortgage. The actual manufacturer, is it?
00:22:05:25 – 00:22:08:24
Andrew
CLAYTON Yeah, that’s right. Clayton Homes is owned by Berkshire.
00:22:08:24 – 00:22:10:05
Rod
Right, right, right.
00:22:10:07 – 00:22:11:22
Andrew
So that’s the first piece would be.
00:22:11:27 – 00:22:13:22
Rod
If you get the homes and then what.
00:22:13:24 – 00:22:16:06
Andrew
You know rehabbing vacant homes is another big one.
00:22:16:06 – 00:22:30:20
Rod
Right? So that’s common, guys. You’ll be shocked if you buy a mobile home park, how many down units they may have because they’re just completely destroyed. The owners tired, doesn’t want to screw with them holes in the floors. You see units missing, roof leaks, you name it.
00:22:30:20 – 00:22:45:12
Andrew
Right? Totally. All of that. And you know, the owner, when he bought it, he was Mr. Fix it. He was doing all the repairs himself. Now he’s 74. He wants to retire and he doesn’t want to deal with it. Right. So he one would go vacant and he’d just leave it. But a lot of times you come in, you spend five or six grand to fill a unit.
00:22:45:14 – 00:22:53:20
Andrew
You start getting your 350 a month lot rent and now you just added 35, $40,000 to the value of the asset. Right. So it’s worth it. I mean.
00:22:53:21 – 00:23:09:02
Rod
Let me let me let me explain that in the math to that to you guys. Okay. So let’s say you increase let’s say you increase 350, let’s say 350 a month times 12 did to the bottom line. That’s 4200. What’s the what’s an average cap rate on on.
00:23:09:05 – 00:23:10:16
Andrew
I’d say a seven cap right now.
00:23:10:16 – 00:23:16:27
Rod
Okay. So divided by .07. So that’s a 60,000 or increase in value.
00:23:16:29 – 00:23:18:15
Andrew
There would be some expenses. Okay.
00:23:18:21 – 00:23:24:09
Rod
So so 4030 to 40 to 50. Still hell of a lot better than then, you know, the five.
00:23:24:09 – 00:23:27:19
Andrew
To six grand to have it. Right, right, right. Yeah.
00:23:27:21 – 00:23:49:02
Rod
By the way, the thing I was looking for before we came on here was and I took a picture of it because I couldn’t get it to print was Newmark just came up with their a multifamily housing cap rate analysis. Okay, there’s this came out and I’ll send it to you. You probably get it already. But but so the average cap rate in 2016 was 7.46%.
00:23:49:02 – 00:23:57:20
Rod
Okay. It dropped down in 2022 to 5.12 in 23. It’s now 5.84 for mobile home parks, mobile home parks.
00:23:57:27 – 00:23:58:07
Andrew
Yeah.
00:23:58:07 – 00:24:02:14
Rod
So that’s now. Right. And it said it’s rejecting back up because the economy I think.
00:24:02:14 – 00:24:08:29
Andrew
I think with those cap rates they’re looking at like the the high end cyan stuff that because you’re mobilized.
00:24:09:02 – 00:24:25:12
Rod
Yeah you’re talking stabilized class A, B stuff. Okay all right. Fair enough. I want to ask you about it just because it happened to pop up and I knew I was interviewing and I’m like, shit, Got to ask him about this. So. So. So what cap rates do you think? You know that do do you buy based on cap rates, returns all the above.
00:24:25:12 – 00:24:26:03
Rod
What do you buy based on.
00:24:26:03 – 00:24:35:02
Andrew
Recent looking at returns? So we’re looking at like, hey, what is the cap rate going to be like end of year three after we implemented our value add plan and sub metered water versus.
00:24:35:04 – 00:24:37:20
Rod
Cap rate isn’t as important as what the pro forma cap rate.
00:24:37:20 – 00:24:38:10
Andrew
Is really not.
00:24:38:11 – 00:24:43:16
Rod
Okay. All right. And how much how much solar financing have you done on these deals?
00:24:43:19 – 00:24:57:18
Andrew
Oh, man, we just closed a $4 million loan, $4 million, 100% LTV loan on one of these 136 lot mobile home park just south in Nashville. So it is possible because again, you’re dealing with mom and pops.
00:24:57:20 – 00:24:59:09
Rod
Wow. And they just wanted the cash flow.
00:24:59:09 – 00:25:01:17
Andrew
He wanted the cash flow. He didn’t want the management. And he was.
00:25:01:17 – 00:25:03:12
Rod
Also you to. How did he trust you?
00:25:03:18 – 00:25:06:15
Andrew
I spent so much time down. I spent a ton of time. Okay.
00:25:06:15 – 00:25:07:14
Rod
You became friends with.
00:25:07:14 – 00:25:11:26
Andrew
He’s him and I. I mean, I could call him right now. He wants to, you know, hang out and.
00:25:11:26 – 00:25:18:02
Rod
Guys, guys, there’s a there’s an I talk about this at my boot camp. And if you’re going to do seller financing, how old is he?
00:25:18:04 – 00:25:19:06
Andrew
74. 75.
00:25:19:06 – 00:25:39:29
Rod
There you go. If you’re when you know when you’re targeting people. And I tell, you know, the mobile multifamily space, if you go do a male or male people that have owned 20 plus years, Right? Why? Because they’re retirees, number one. Number two, they’re fully depreciated. There’s no more tax write offs. Number three, they’re not going to take that money from that high risk investment and put it into another high risk investment.
00:25:40:03 – 00:25:56:19
Rod
They they just want cash flow in most cases. And so you want to have a conversation, something like this. Mr.. Mrs.. SMITH Listen, I’m going to pay $4 million for your property if, if I pay, you know, if I got new debt and just paid you four, you’d end up with 65, $0.70 on the dollar. So here’s what you get.
00:25:56:19 – 00:26:14:24
Rod
Now, if you put that money in the bank, this is what your payment would be. Now, if you work with me, in your case, you did a half percent financing and I’ve done that too. But I’m going to give you enough of a down payment. So, you know, I’m serious. Number one, I’m going to pay an interest rate that’s fair, you know, five, six, 7%, whatever the numbers make work out to be.
00:26:14:26 – 00:26:28:29
Rod
And you’re only going to pay taxes on the amount you get from me every year. And your payment for me is going to be three times what you’d get at the bank. And it usually is. And I will tell you, if you meet a retired seller and you don’t offer that, you’re you’re hurting them, okay? Not just yourself.
00:26:28:29 – 00:26:46:19
Rod
You’re crazy not to do it. And and then the next piece is seller bonding, which is what we just talked about. When you’re dealing with retirees, they’re more interested in the relationship then than than the asset. So you bond with them, not to screw them. I’ll hunt you down, but to create a win win situation, that’s a win win for them.
00:26:46:22 – 00:27:02:23
Rod
Right? Right. And so bonding is super important. You focus on the relationship, you bond with them and you’re creating credible deals. I’ve done nothing down deals as well in the millions as well. And I’ve done deals where I didn’t make a payment for a year because the property was so frickin trashed that I had to and I didn’t have a lot of money back then.
00:27:02:23 – 00:27:09:23
Rod
I said I got to put the money into the property and the truth and they trusted me and that it is because I bonded. So that’s what you’re talking about, correct?
00:27:09:23 – 00:27:22:20
Andrew
That’s 100% right. Yeah. And it’s all about the bonding, building that rapport. But one thing you said you’re doing the seller a disservice if you don’t offer this, because a lot of people are like, you know, dancing around it, Right? It’s like, no, you need to get it out there.
00:27:22:26 – 00:27:39:19
Rod
Right? Because because they’re going to get killed by tax. They are. And, you know, at some point the rates are going to come back down and they’re going to be stuck at 1% or 0% interest again. And, you know, and then they could be, you know, be the lender on the deal, getting a nice return, not getting killed by taxes every year.
00:27:39:24 – 00:27:40:11
Rod
Hello.
00:27:40:11 – 00:27:41:18
Andrew
That’s secured by the.
00:27:41:18 – 00:27:54:23
Rod
Secured by the real estate that they know love and trust. Yes. Right now it’s a no brainer. So yeah, that definitely have that conversation if you’re you know, if you’re going to go direct a seller on deals, be it multifamily, mobile home parks, whatever it is.
00:27:54:27 – 00:28:04:17
Andrew
And I think one of the big things also that we we did is we said, Hey, Mr. Seller, look at our budget. Look what we’re going to do to this place, right? We’re going to take $1.5 million and we’re going to reinvest.
00:28:04:17 – 00:28:07:21
Rod
Instead of giving it to you, we’re going to put it into this asset. Yes. Okay.
00:28:07:21 – 00:28:09:16
Andrew
We’re going to redo all the roads. We’re going to do it.
00:28:09:16 – 00:28:14:25
Rod
And you committed to that, I’m guessing in the PSA, you committed to that or did you do that verbally? I mean, that.
00:28:14:25 – 00:28:25:03
Andrew
Was that was verbally. This is a he was a very handshake type of guy. But we’re really doing it. We raised the money like it’s it’s going to happen. And he was excited to see that, you know, he didn’t he did want to have to do it himself.
00:28:25:03 – 00:28:41:20
Rod
They love it. They built it or they bought it forever. Yeah, They’ve got the emotional attachment. Totally. Yeah. Love it. Love it. So. So self-storage. I know you’ve done some self-storage. I’m seeing headwinds big time on self-storage. Talk about that a little bit.
00:28:41:23 – 00:28:53:26
Andrew
My black eye. I mean, in 2021, we were like, Hey, we’re going to go into some self-storage, diversify, you know, get into two asset classes. Ultimately, we thought it was going to be easier to manage.
00:28:53:27 – 00:28:55:14
Rod
Well, sure. It sure seems you.
00:28:55:14 – 00:28:56:24
Andrew
Look at it and you’re like.
00:28:56:24 – 00:29:02:12
Rod
Okay, the hose it out, you kick it, you put their stuff up for auction, you hose it out, you’re onto the next person.
00:29:02:14 – 00:29:14:05
Andrew
But it’s not the case. You know, we we underestimated expense ratios. You know, we were buying like 30,000 net rentable square feet, you know, mom and pop owned facilities. Same thing in mobile home parks, buying them off markets.
00:29:14:05 – 00:29:16:01
Rod
The big expense, the utilities.
00:29:16:03 – 00:29:28:05
Andrew
It’s a lot of just, you know, insurance packages. The management and marketing is the big one in marketing, like figuring out marketing and and being able to be on the pricing. You know, you.
00:29:28:05 – 00:29:32:25
Rod
Want it so you’re competitive. That’s right there mystery shopping every week or the promos.
00:29:33:00 – 00:29:47:03
Andrew
Exactly. And I think like just the turnover of like hey 10% of our tenant of our tenants are going to move out every month and we have to refill month every month. So it’s like you really got to stay on that. And and yeah, I mean, we were new to it. We made mistakes. How many?
00:29:47:06 – 00:29:48:21
Rod
How many? How many? How many do you buy?
00:29:48:24 – 00:29:50:19
Andrew
We bought 11 self-storage facilities.
00:29:50:22 – 00:29:52:06
Rod
Yeah, you still have them.
00:29:52:08 – 00:29:53:09
Andrew
They’re up for sale right now.
00:29:53:09 – 00:29:55:16
Rod
They are. And I got terrible time to sell.
00:29:55:16 – 00:30:01:23
Andrew
It’s not a great time to sell, but we bought them. We bought. Okay, You’re okay. We’ll be okay and the investors will be full.
00:30:01:23 – 00:30:03:13
Rod
But yeah, Bridge debt or regular?
00:30:03:13 – 00:30:12:03
Andrew
It’s regular debt. So all of our deals are bought with like local banks, you know, five year fixed, typically ten year balloons. But still, you know, that’s we didn’t do great.
00:30:12:04 – 00:30:28:23
Rod
Yeah, I’ll tell you, you know, I told my team that one of the big questions I want to ask on any deal that’s for sale right now is why? Why? Okay. And like, we’ve got an eye on our deal right now, and I think we’re doing another one today. My team’s meeting on it right now, big one here in Florida.
00:30:28:25 – 00:30:54:05
Rod
And they have three months left until their loan resets. They have to freakin sell. And so I was just talking about this on a previous interview today. You know, it’s going to be surety of clothes moving forward more than anything else. The pricing is not going to be as important. It’s they they need to know you can close and I’m doing a fund to by the way And by the way, guys, if you’re accredited, we’re going to be doing an opportunity fund to capitalize on some of the incredible opportunity that’s coming.
00:30:54:05 – 00:31:08:09
Rod
I’m not going to I’m just going to tease that right now. But it’ll be set up in the next week or two and I will be addressing it and and putting it out there because we need to get money together and get ready to take advantage of these these assets that are coming. And they are coming. And trust me, they’re coming.
00:31:08:14 – 00:31:26:07
Rod
We’re seeing it already. So I know that mobile home parks, manufactured home trailer parks, you know, quote unquote, they get a bad rep, they get a lot of bad press. Nobody wants them in their neighborhood, blah, blah, blah. You know, And so talk about that for a minute, because that’s not that’s a common conversation.
00:31:26:10 – 00:31:35:04
Andrew
Yeah, I think the same thing in multifamily, right? There’s a couple of bad eggs that can come in and make some make some moves that make everybody look bad, Right? Oh.
00:31:35:06 – 00:31:50:24
Rod
An example would be the Wall Street Journal article about the guy in Houston. You know that one of my one of my competitors students that lost 3000 plus doors and I think 100 million investor capital, that’s a black guy for sure. But but I haven’t seen anything recently in the mobile home park.
00:31:50:26 – 00:32:01:23
Andrew
There’s there’s been some articles, you know, because there’s there’s Wall Street money that’s coming in and they they’re raising rents really fast on these people. And you know, they’re not really doing anything.
00:32:01:23 – 00:32:06:27
Rod
Kevin even got hammered on one a while back this many years ago. But they, they, they I mean, they made a poster child.
00:32:06:27 – 00:32:18:27
Andrew
But Kevin, you know, but if you look at Kevin, like he’s just like, like myself, we’re investing in the properties and then we’re raising the rents. We’re not just coming in and saying, Hey, you’re 250 a month, we’re going to 508. Nothing else change bad.
00:32:19:02 – 00:32:20:19
Rod
Just had to set a new owner.
00:32:20:19 – 00:32:23:10
Andrew
No, it’s it’s like, hey, we’re going to redo the roads, right?
00:32:23:12 – 00:32:35:22
Rod
We’re going to. By the way, guys, that’s what you do. You fix the place up before you hammer the rents. Even in multifamily, paint the outside reserve the parking lot, you know, put in new landscaping, and then you start doing something with the rents, right?
00:32:35:22 – 00:32:36:19
Andrew
That’s right. Yeah.
00:32:36:21 – 00:32:38:18
Rod
So there’s been some bad press from from these has.
00:32:38:18 – 00:32:59:26
Andrew
Been some some you know, scenarios where people have raised rents really fast on on, you know, people with fixed incomes and things like that without doing anything. And it gives everybody else a black eye. But I think, you know, all in all, there’s a lot of operators, most operators are doing it the right way. You know, these these are mobile home parks that haven’t been reinvested in by the mom and pop owners in a long time.
00:32:59:26 – 00:33:10:27
Andrew
And there’s a lot of deferred maintenance that needs to be fixed. Right. And if you come in and fix them, you know, you can salvage that asset that otherwise could have got bought by a multifamily developer. And they say, hey, you got to move all your homes.
00:33:10:27 – 00:33:12:20
Rod
Out, scrape all the homes and put something else.
00:33:12:20 – 00:33:14:29
Andrew
Highest and best uses now apartment complex.
00:33:14:29 – 00:33:43:13
Rod
Very often it can be something else besides mobile home parks. And so yeah, that’s a very valid point. And you know, and there’s a there’s a there’s a morality component to this. You know, I was and guys, I even hate to admit this publicly, so I probably get some hate and be like your puss, but I was going to buy a six plex here in Sarasota and I went and viewed it and the rents were about a thousand apiece per unit.
00:33:43:18 – 00:34:02:26
Rod
So. And they were a thousand low. Yeah. And I met all the tenants and I couldn’t do it. I couldn’t do it. I couldn’t, I couldn’t make six families move because they’d have to move to double the rents and I know somebody else did, but I just didn’t, I didn’t have it in me to do it. And so, you know, and I’ll get some, I’ll get somebody on the social on this thing, but are you big pussy.
00:34:02:26 – 00:34:23:12
Rod
You should have just Yeah. But anyway, I think you, you live, you operate from integrity. That’s our highest core value. You do what’s right even if it hurts and you know there’s a right way and a wrong way to do things here. That deal only made sense if I. If I doubled the rents because, you know, it was a Marcus and Millichap deal and they crank them as high as they can.
00:34:23:12 – 00:34:30:10
Rod
And I backed out and I pissed them off too. But I don’t. That’s okay. It was just the right move. So. But you do the right.
00:34:30:10 – 00:34:32:07
Andrew
There’s a social responsibility.
00:34:32:10 – 00:34:52:13
Rod
That’s right. Yeah, absolutely there is. And you know, that’s that’s how you that’s how you do it the right way. And I, you know, I’m, I’m, I believe in that. And well, let’s let’s, let’s shift to something which is kind of cool about you, which is you have run how many Ironman and and to talk about your athletic career.
00:34:52:16 – 00:35:14:03
Andrew
Yeah well I played football in college you know I loved working out staying in shape and I got a passion for triathlons and I started at the sprint level and worked up and I’ve now done six Ironman events. You know, one was a full Ironman and I’ve done five of the halves, the 70 point threes. And yeah, I usually do one or two a year and just it’s a passion of mine.
00:35:14:06 – 00:35:24:28
Rod
You know, you hear, you hear about, you know, hitting the wall when you’re, when you’re running it where, where it’s like it’s almost like you hit a brick wall and you’re like, Do I? And it’s and it’s mental. It’s a mental game, right? It’s like the seals that buds.
00:35:24:28 – 00:35:27:23
Andrew
That’s right. That’s right. And you notice the SEAL team.
00:35:27:23 – 00:35:28:04
Rod
Oh, I know.
00:35:28:04 – 00:35:30:08
Andrew
I got that. I got That is the SEAL.
00:35:30:08 – 00:35:31:08
Rod
Team love it. Yeah, that’s.
00:35:31:08 – 00:35:48:22
Andrew
Cool. But yeah, the biggest thing and I know you’re a big mindset guy that I’ve taken away from the Iron Man is literally like their whole motto is Anything is possible. And I have that poster up in my bathroom and I look at it every day and really, if you put your mind to it and you’d make that decision, like you said on a previous podcast, that’s 85% of it right there it is.
00:35:48:22 – 00:35:52:09
Rod
It’s all mindset. Yeah, I love that anything is possible. That’s their quote.
00:35:52:09 – 00:35:53:22
Andrew
That’s their quote. That’s their brand.
00:35:53:22 – 00:36:11:13
Rod
Love. Yeah. I mean, look at frickin Elon. Look what he’s done. I was at $4 billion startups. I mean, there’s you can’t do B or have in this country you just got to you know you make a decision you take that first step you take massive freakin action, you play to your strengths. You get a peer group that’s going to help you.
00:36:11:16 – 00:36:26:17
Rod
You maintain your focus, especially through the crap that’s coming. Make sure you’ve got your goals done. You know, if you listen to this and you haven’t done your goals, get your butt to rods links dot com at the bottom. I do a goal setting workshop every New Year’s Day. It’s got a guide you can download and I can try to sell you anything.
00:36:26:23 – 00:36:44:10
Rod
You know, people spend more time planning a frickin birthday party than they do designing their lives as designing your life. So go to Rod’s links and do my goal setting workshop. You know, do it three times a year because your goals evolve because, again, in what’s coming, your focus is going to be critical and you should be focused on what you want, not the crap on the news.
00:36:44:10 – 00:37:06:05
Rod
And it’s all crap on the news. You don’t even know what to believe anymore. So much crap. So, you know, stay focused on what you want and why you want it and you hone that focus. And this could be the greatest opportunity in your lifetime. What’s coming. And I don’t see that lately. So, you know, pick your vehicle, get up to speed as fast as you can, get connected with as many people as you can.
00:37:06:07 – 00:37:24:07
Rod
And you could be setting yourself up and your kids up and their kids and their kids and their kids. That’s how big a deal it could be. So, Andrew, I really appreciate you coming in here. This has been a lot of fun. And I know you drove a bit to get here from Orlando. It’s a two hour run, but I’m grateful that you took the time to come.
00:37:24:07 – 00:37:25:07
Rod
This has been a lot of fun, man.
00:37:25:12 – 00:37:27:01
Andrew
This has been. Thank you so much for having me.
00:37:27:01 – 00:37:27:22
Rod
Absolutely.
