Interview with Jeremiah Boucher of Patriot Holdings

Passive Mobile Home Park Investing

Welcome to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Jeremiah Boucher, the founder and CEO of Patriot Holdings. Jeremiah shares his story from starting out cold-calling and wholesaling mobile home parks to building his commercial real estate empire. Jeremiah also gives his advice about active mobile home park ownership along with several tips for limited partner passive mobile home park investors. Mr. Boucher shares his insights on what the “perfect” mobile home park looks like in his eyes and also touches on the stigma in manufactured housing. Jeremiah Boucher is passionate about the mobile home park industry and his passion shines through in this quick 20 minute episode.

Jeremiah is the founder and CEO of Patriot Holdings, which is an alternative commercial real estate investment firm based out of Las Vegas, Nevada. Patriot Holdings focuses on cash flow producing properties, including: mobile home parks, self-storage facilities, and industrial properties. The firm has over 20 years of experience in these alternative investment classes and has built up a portfolio of over $90 million in assets under management.

***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 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten 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.

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. Are you getting value out of this show? If so, please head over to iTunes and leave the show a quick five-star review. I have a goal of hitting over 100 total 5-star reviews by the end of 2021, and it would mean the absolute world to me if you could help contribute to that. Thanks ahead of time for making my day with your five-star review of the show.

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

01:18 - Jeremiah’s journey into mobile home park investing

04:07 - The toughest hurdle for Jeremiah Boucher

12:37 - The most important things passive investors should look out for

13:55 - What limited partners need to know before investing money

16:00 - Jeremiah’s perfect mobile home park

17:41 - Common mistakes new mobile home park operators make

18:50 - Patriot Holdings and what makes them different

22:40 - Getting ahold of Jeremiah Boucher and Patriot Holdings

23:13 - Conclusion

Links & Mentions from This Episode:

Patriot Holdings website: https://patriotholdings.com/

Patriot Holdings Address: 4007 Dean Martin Dr, Las Vegas, Nevada 89103

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/PassiveMHPin...

Andrew Keel Instagram page: https://www.instagram.com/passivemhpi...

Twitter: @MHPinvestors

Quotes:

“I've been transitioning where it's really about quality not quantity of deals. I focus more on higher quality parks, quality residents, quality homes with pride of ownership.” - Jeremiah Boucher

“At the end of the day, it's an amazing asset class. I'm still 100% behind it. (On mobile home parks)” - Jeremiah Boucher

“When investing in a park, you gotta look at what is the long-term replacement plan.” - Jeremiah Boucher

“The problem right now is inventory. It’s also getting homes, that’s the challenge.” - Jeremiah Boucher