The Mobile Home Park Lawyer Podcast

In this insightful episode, we welcome Derek Vickers, the owner of Victory Real Estate Group, who brings his expertise in the mobile home park business to the forefront. Derek shares his unique perspectives on various aspects of the industry, shedding light on how he tackles different areas and navigates challenges.   We delve into the endless demand for mobile home parks in Tampa and discuss effective ways to test market demand to ensure successful investments. Derek also offers valuable insights on Fannie Mae financing and highlights the potential limitations that park-owned homes can have on exit rates.   One of the key takeaways from this episode is the importance of considering exit strategies when seeking deals in the market. Derek emphasizes the significance of thoroughly understanding budgets, emphasizing that missed prices, rather than misprices, often have a more significant impact.   Furthermore, we touch upon the common oversight of sellers neglecting to thoroughly read loan documents, highlighting the potential risks and implications. Derek's experiences and expertise serve as a valuable guide for real estate professionals in navigating these crucial aspects of the mobile home park business.   Tune in to this episode to gain practical knowledge and insights that will help you make informed decisions and maximize your success in the mobile home park industry. Highlights of the episode: 00:00:37 Guest Introduction & Background: Derek Vickers 00:01:08 How Derek Got Into the Business 00:04:14 About Derek’s Park Homes 00:07:14 The Demand in Tampa Is Endless 00:08:46 How Do You Test Market Demand? 00:13:49 Prospectus 00:18:17 Fannie Mae Financing 00:21:55 Park-Owned Homes Could Limit Your Exits Rate 00:24:34 When Looking for a Deal, Look at an Exit Strategy 00:27:58 “What Ruins the Budget Is Not a Misprice, But a Missed Price” 00:31:56 A Lot of Times, Sellers Don’t Even Read the Loan Docs 00:34:43 Closing 00:45:41 Make Sure to Get All Your Titles 00:46:20 Closing   Connecting with MHP Law:    Website: https://themobilehomelawyer.com/ Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069 LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/ Instagram: https://www.instagram.com/themhplawyer   Connecting with Guest:    LinkedIn: https://www.linkedin.com/in/derek-vickers-0774b146/ Instagram: https://www.instagram.com/derekvickers885/ Linktree: https://linktr.ee/derekvickers885  Website: https://www.victoryrealestategroup.com/   #MobileHomeParkInsights #RealEstateExpertise #InvestmentStrategies

In this episode, Jason Janda, CEO of Rochester Property Group, LLC, a practicing attorney and mobile home park owner and investor, shares his expertise on deal sourcing and due diligence in the real estate industry. He has mentioned an interesting take on possibly using drone videos to attract potential buyers, as well as the differences between refundable and non-refundable deposits.   We also explore safety policies regarding electricity and piping issues that can arise in mobile home parks. Jason shares his insights on how to avoid damage to park infrastructure caused by garage sale signs, and the importance of considering business calculations when making investment decisions.   Additionally, we discuss the legal implications of the eviction moratorium and common legal flaws in the acquisition process. This episode emphasizes the importance of getting zoning right and ensuring all titles are obtained in order to avoid legal challenges down the line.   Throughout the episode, we provide practical tips and advice for those in the real estate industry, and highlight the importance of thorough research and due diligence in making informed investment decisions. Highlights of the episode: 00:00:36 Guest Introduction & Background: Jason Janda 00:05:14 Are You a Man of Your Word? 00:08:44 Drone Video to Bring Further Traffic to Your Property 00:12:07 Non-Refundable vs. Refundable 00:15:41 Electricity Safety Policies 00:18:33 Piping Issues for MHPs in the Seventies 00:22:47 How Garage Sales Signs Ruin the Wood 00:26:09 Putting Less Weight on the Tax Return 00:29:04 Eviction Moratorium 00:34:06 Legal Flaws 00:39:10 Getting the Zoning Right Is a Big Deal 00:43:54 Business Calculation 00:45:41 Make Sure to Get All Your Titles 00:46:20 Closing   Connecting with MHP Law:    Website: https://themobilehomelawyer.com/ Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069 LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/ Instagram: https://www.instagram.com/themhplawyer   Connecting with Guest:    LinkedIn: https://www.linkedin.com/in/jasonjanda/ Website: http://www.rochesterpg.com/    #RealEstateInvestingTips #DueDiligenceMatters #MobileHomeParkInvesting

In this episode, we take a closer look at fair housing laws and the challenges that cities and individuals face in upholding them. We explore the topic of zoning and how it can impact fair housing, as well as the legal action that can be taken against cities that violate fair housing laws. We also discuss the importance of exhausting administrative remedies before pursuing litigation, and how disparate treatment can be a key factor in fair housing cases. Furthermore, we examine a recent law stating that mobile home lots can be abandoned, and the potential for discrimination in this context. Throughout the episode, we provide insightful commentary on the complexities of fair housing law and the ongoing efforts to combat discrimination. We also highlight the importance of advocacy and education in promoting fair housing practices and ensuring equal access to housing for all. Highlights of the episode: 00:01:36 Zoning 00:05:04 Suing of Cities 00:10:42 Exhausting Ministry Remedies 00:11:03 Disparate Treatment 00:14:11 Mobile Home Lot Can Be Abandoned 00:17:01 Proving Discrimination 00:19:17 Closing   Connecting with MHP Law:    Website: https://themobilehomelawyer.com/ Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069 LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/ Instagram: https://www.instagram.com/themhplawyer   #FairHousing #HousingEquity #AdvocacyForAll

In today’s episode, we delve into the current state of the real estate market and the impact it has on property management operations. The episode explores how acquisitions have decreased due to the current interest rate environment and how operators are turning to improving their operations to increase resident satisfaction. Throughout the episode, we provide insightful commentary on the importance of ancillary services in enhancing the overall resident experience. We also highlight the impact that these services have on a property's reputation and the potential for increased occupancy rates and resident retention. Overall, the episode offers a comprehensive analysis of the current state of the real estate market and how operators can enhance their operations to provide greater value to their residents. It provides useful insights for property managers and investors alike, highlighting the importance of investing in ancillary services to increase resident satisfaction and drive long-term success. Highlights of the episode: 00:01:18 How Ancillary Services Provide Value in Resident Satisfaction 00:03:09 Ghost Showings or Virtual Showings 00:05:24 Standard to Customized  Reporting 00:09:13 Control Who the Trash Company Is 00:11:23 Collaborate With a Local Charity or School for Other Government Services 00:15:07 Outsourcing 00:18:37 Home Insurances 00:21:47 Putting in Cost Saving Devices 00:24:07 Closing   Connecting with MHP Law:    Website: https://themobilehomelawyer.com/ Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069 LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/ Instagram: https://www.instagram.com/themhplawyer   #RealEstateMarketAnalysis #ResidentSatisfaction #InvestingInAncillaryServices  

In today's episode, we are joined by Ken Schefler of Yale Advisors, who shares his journey to becoming a realtor. Ken had a diverse career before entering commercial real estate, including working as a writer for movie scripts and TV shows. He reflects on the ups and downs of the entertainment industry, where success doesn't always equate to having work produced and released. Ken discusses how Yale Advisors offers a comprehensive range of services, including a brokerage team, equity opportunities, and a financing team that works with banks for debt solutions. He highlights the collaborative and value-driven approach of Yale Advisors, aiming to provide value across the real estate spectrum for operators and LPs alike. Ken also touches on the current state of the market, describing it as a transitional period. Don't miss this insightful episode as Ken shares his experiences and expertise in the real estate industry! Highlights of the episode: 00:00:37 Guest Introduction: Ken Schefler 00:06:56 Ken’s Views on the Next Quarter or the Rest of the Year 00:09:56 Premium Markets 00:15:51 Price Factor 00:20:49 The Implication of Due Diligence on Buyers 00:25:22 Who Do You Give Your Time To? 00:31:34 Other Tips or Wisdom as Far as the Market Is Concerned 00:37:28 Creating More Inventory 00:44:03 Misrepresentation 00:49:13 Closing   Connecting with MHP Law:    Website: https://themobilehomelawyer.com/ Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069 LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/ Instagram: https://www.instagram.com/themhplawyer   #RealtorJourney #RealEstateInsights #YaleAdvisors

In today's episode, we have the pleasure of speaking with Franco Perez, an expert in helping residents upgrade their homes. Franco is the Founder of Franco Mobile Homes, a company that specializes in providing financing solutions for home improvements. Franco sheds light on the importance of home improvement and how it can increase the value of one's property. He talks about the common misconceptions surrounding home upgrades and how they are working to dispel those myths. We then explore the ways in which Franco Mobile Homes’ financing model works. Franco explains how they evaluate potential customers, the types of loans they offer, and how they work with contractors to ensure the quality of the work being done. He also discusses some of the challenges they face in the industry, such as the lack of awareness about available financing options and the need for more education on the benefits of home improvement. Don't miss this informative episode as we help residents upgrade their homes! Highlights of the episode: 00:00:37 Guest Introduction: Franco Perez 00:03:35 What Franco Does With Older Homes 00:07:25 Challenges 00:09:09 How to Get an Affordable Home 00:14:50 Bad Myths or Bad Stigmas About Mobile Homes 00:16:34 Code Violations 00:21:27 How Much Money Have You Actually Spent Just Renting? 00:24:27 Luck With Municipalities 00:28:08 About Liking Your Neighbors 00:30:57 Other Tips and Tricks 00:31:56 Closing   Connecting with MHP Law:    Website: https://themobilehomelawyer.com/ Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069 LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/ Instagram: https://www.instagram.com/themhplawyer   #FrancoMobileHomes #HomeImprovementFinancing #UpgradeYourHome

In today’s episode, we will be highlighting our guest’s expertise in financing mobile home sales. Our guest is Scott Macneil, the CEO of Performance Equity Partners. He will be providing some background on the mobile home industry and how PEP has been able to help finance these sales. Scott explains that the mobile home industry is often overlooked, despite being an affordable housing solution for many Americans. He goes on to describe how PEP provides financing solutions that are tailored to the needs of mobile home dealers, allowing them to sell more homes to customers who might not be able to get traditional bank financing. We then delve into the specific ways in which PEP's financing model works. Scott talks about how they evaluate potential customers and dealers, what types of loans they offer, and how they manage risk. He also discusses some of the challenges they face in the mobile home industry, such as the stigma associated with mobile homes and the lack of data available to lenders. Tune in for another great episode!   Highlights of the episode: 00:00:36 Guest Introduction: Scott Macneil 00:04:08 Financing a Manufactured Home That’s in a Land Lease Community 00:09:03 Restrictions on Payments 00:11:12 Reestablishing Good Credit 00:14:09 Applying Rules Universally and Across the Board 00:16:38 Certain Rate at Certain States Having an Interest Rate Cap 00:16:57 Other Requirements 00:21:35 Lending Program on the Commercial Side 00:22:47 Loan Term and Prepayment Years or Penalties 00:26:09 Manufactured Housing 00:29:25 Closing   Connecting with MHP Law:    Website: https://themobilehomelawyer.com/ Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069 LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/ Instagram: https://www.instagram.com/themhplawyer   #MobileHomeFinancing #PEPFinance #AffordableHousingSolution

In the latest episode of The Mobile Home Parks, host Ferd Niemann discusses his experience as a mobile home park owner operator. Niemann shares a quote by Bill Gates that inspires his approach to work: "Give a lazy person a hard job because they'll find an easy way to do it." Although Niemann is far from lazy, he strives to work smarter, not harder. He shares his strategy of owning fewer parks but with a heavier workload to earn twice as much money and work half as much as his peers. Niemann also discusses his investment strategy and the metrics he uses to evaluate deals, such as IRR (internal rate of return), pref (preferred return), cash on cash, and equity multiple. He believes in taking a bigger split to maximize returns for his investors while ensuring there is limited risk. Niemann also emphasizes the importance of evaluating the probability of a business plan succeeding and not solely relying on Excel spreadsheets, which can be easily manipulated. Highlights of the episode: 00:00:37 Episode Introduction 00:02:20 Take a Bigger Split 00:07:50 Demoeding a Bunch of Homes 00:12:54 Abandoned Housing Process 00:16:59 Title Objection 00:20:31 Trapped Equity  00:25:07 Chopped Earnest Money 00:31:05 Getting Stuck on Taxable Hit 00:34:38 Closing   Connecting with MHP Law:    Website: https://themobilehomelawyer.com/ Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069 LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/ Instagram: https://www.instagram.com/themhplawyer   #mobilehomeparks #casestudy #investmentstrategies

In today's episode of the The Mobile Home Parks podcast, we sit down with Vincent Tao and Elizabeth Woods, who made the bold decision to leave their jobs and pursue a career in lease communities and apartment rentals. Despite the perceived challenges in the industry, Vincent and Elizabeth have found great success through their innovative strategies and unwavering determination. During the episode, they share their journey and experiences in the field, offering valuable insights and tips for anyone interested in the business. With their passion and expertise, Vincent and Elizabeth have become trailblazers in the industry, inspiring others to follow their dreams and create successful ventures in the mobile home park space. Don't miss this engaging and inspiring episode of The Mobile Home Parks!   Highlights of the episode: 00:00:41 Guest Introduction & Background: Vincent Tao & Elizabeth Woods 00:08:29 How They Found a Couple of Their Deals & Other Operations 00:14:46 Creative Strategies in the Mobile Home Park Space vs. Apartments 00:19:23 Virtual Assistant System 00:23:05 Rental Assistance Programs 00:26:32 Government Programs  00:30:00 Their Other Tips, Tricks and Stories  00:32:42 The Financing 00:37:04 Loan Brokers 00:38:39 Closing   Connecting with Guest:    LinkedIn: https://www.linkedin.com/in/kenschefler/ Website: https://yaleadvisors.com/   Connecting with MHP Law:    Website: https://themobilehomelawyer.com/ Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069 LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/ Instagram: https://www.instagram.com/themhplawyer   #mobilehomeparks #apartmentinvestment #leasecommunities

In today’s episode, we welcome Yoel Kelman of Three Pillar Communities. He is a big operator. Yoel started with a partner to invest in mobile home parks, and they've got parks all over the country. He also has a background in Accountancy and financial consultancy. While it may seem that the mobile home park business is an industry with few opportunities, the truth is that there are many hopeful owners who are looking to buy a mobile home park. There are actually many ways that you can grow a mobile home park company and make it profitable, and Yoel has gathered actionable growth tactics and strategies to help other operators and investors succeed. Tune in to another great episode!   Highlights of the episode: 00:00:36 Guest Introduction & Background: Yoel Kelman 00:08:11 Minimum Lot Size 00:18:48 Conservative Underwriting 00:27:24 Increasing Rates 00:31:19 Parking Ratio 00:35:06 Competitors 00:40:24 Closing   Connecting with the Guest: LinkedIn: https://www.linkedin.com/in/yoelkelman/ Website: https://threepillarcommunities.com/   Connecting with MHP Law:    Website: https://themobilehomelawyer.com/ Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069 LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/ Instagram: https://www.instagram.com/themhplawyer   #mobilehomeparks #parkoperators #realestateinvestment