Interview with Glenn Yaney of Vertical Equity Partners

Passive Mobile Home Park Investing

Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. In this episode of the Passive Mobile Home Park Investing Podcast our host Andrew Keel interviews Glenn Yaney of Vertical Equity Partners.

Glenn Yaney began his real estate investing career back in 2012 as a property manager in Tampa Bay, later advancing into the role of leasing manager for the state of Florida at American Homes 4 Rent. In 2020, he partnered with Garrett Smith to become a General Partner at Vertical Equity Partners. Together, they manage a diverse portfolio of over 400 rental units, ranging from mobile home parks to apartment complexes, all handled and managed in-house by their dedicated property management team.

In today's episode, Andrew Keel and Glenn Yaney explore the differences between tenant-owned and park-owned mobile homes, they also dive into the intricacies of mobile home park septic systems and leach fields, and discuss two capital raising investment strategies for mobile home park deals: debt and equity. Glenn also recounts his transition from Corporate America to mobile home park owner.

Tune into this episode of the Passive Mobile Home Park Investing Podcast with Andrew Keel and Glenn Yaney to learn about the significance of tenant retention and tenant satisfaction in order to foster thriving manufactured housing communities.

***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

01:12 - Glenn Yaney’s journey from Corporate America (American Homes 4 Rent) to mobile home park investor

13:21 - Glenn Yaney’s portfolio in the Tampa, Florida MSA

17:40 - Learning through experience when investing in mobile home parks: leach fields, septic tanks, and mobile home park-owned homes

21:35 - Sourcing mobile home park deals through brokers

24:35 - Rough mobile home parks are sometimes the best mobile home parks to invest in.

28:03 - Two ways to invest in mobile home parks: debt and equity

34:53 - Prospectus with mobile home parks in Florida

37:37 - Reaching out to Glenn Yaney

38:00 - Focus on the mobile home parks with tenant-owned homes

39:49 - Conclusion

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Links & Mentions from This Episode:

The Millionaire Journey Podcast: https://podcasts.apple.com/us/podcast/the-millionaire-journey-podcast/id1728886342

Glenn Yaney Twitter/X: https://x.com/GlennYaney

Vertical Equity Partners: https://www.verticalequityproperties.com/

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:

“These are all lessons that would have been hard to learn without going through the work.” - Glenn Yaney

“A lot of (mobile home park) brokers do favor people who rely on them.” - Glenn Yaney

“Building relationships (in the Mobile home park asset class) is key, for sure.” - Andrew Keel

“You want it to be a nice place to live. I want to go to bed at night knowing that I’ve done the right thing.” - Glenn Yaney