In this episode of The Mobile Home Park Investing Podcast, Kevin shares the mic with Tim Kelly, Founder of Kelly Investment Group in Pensacola, FL.
Kevin began his investing career by house hacking while still serving full-time as a Chief Petty Officer in the United States Navy in Pensacola. With a few more multifamily deals under his belt, Kevin “switched teams” so to speak to investing almost exclusively in Mobile Home Communities -- some of which include Mobile & Troy Alabama.
Enjoy this episode as the two dissect the strategies for raising funds for your first deals, and other due diligence principles.
[6:05] What is Tim’s background?
[10:35] Why did Tim switch from Multi-Family to Mobile Home Parks?
[14:24] What was Tim’s first deal like?
[26:03] What is Tim & Kevin’s thoughts on Park-Owned Homes?
[39:31] What’s Tim’s criteria for a “Good” Deal?
[41:29] Tim’s final closing thoughts.
In this episode of the Mobile Home Park Investing Podcast, Kevin shares the mic with Michael Renz; An Environmental Geologist and Founder of Renz & Associates, INC.
Michael’s Renz’s boutique firm specializes in the conduction of environmental studies for sites potentially impacted by pollution by hazardous materials, and providing remediation for any potential problems. Examples include cleanup from oil spills, leaking underground storage tanks, ruptured pipelines, dumpsites and the like.
Every investor needs to understand the importance of conducting an environmental survey on their property before a purchase, as it can carry a potentially huge liability. Enjoy this episode as Michael covers what to look for, and various stories from working in the field.
[6:23] Michael’s Background
[15:55] What’s the strangest discovery Michael has made during an examination?
[24:48] What is the average turnaround time and cost of a Phase I environmental study?
[29:08] When is a Phase II environmental study initiated?
[34:08] What kind of questions do buyers need to ask a firm for an environmental assessment?