The Mobile Home Park Lawyer Podcast

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

In today’s episode, we welcome Enon Winkler. He is a mobile home and RV broker who owns and operates mobile home parks while doing some third party management from time to time. He crushed it at multifamily back in 2004-2009, and continues to be vertically integrated with the properties that he owns at present. Basically, our guest is a jack of all trades.  Enon empowers his people to be entrepreneurial, and to do what it takes to go the extra mile. For him, it's all about figuring things out and creating a team culture where everyone really thrives on getting stuff done and learning. Together with his partners, they manage a bunch of third party properties, and they just selectively kind of pick and choose which ones they want to manage. It takes a lot of bandwidth to manage properties and they do not want to get too far out of their radius. Tune in to this episode to learn more about Enon’s story and how important it is to stay engaged in this industry!   Highlights of the episode:   00:01:20 Guest Background: Enon Winkler 00:12:08 What Else Is Going On in the Marketplace? 00:16:55 Our Offer Today Changes Tomorrow 00:23:29 How to Overcome Holding Paper 00:29:41 Rent Increases and its Factors 00:42:59 Closing   Connecting with the Guest: LinkedIn: https://www.linkedin.com/in/enon-winkler/ Website: https://otherstreet.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   #multifamily #thinkingoutsidethebox #thirdpartymanagement

In today’s episode, we welcome Bryce McMurry to discuss how you can grow your portfolio with the help of his expertise in the contractor field. Bryan and his partners have “adding value to properties” as their niche in their construction projects. He emphasizes that property values may be stagnant because of a shortage of construction skills. However, there could be a lot of time management involved. That is why when real success happens in your business, the ability to effectively manage your workload is a crucial factor. A new survey finds that excessive workload is one of the main reasons developers are turning away from construction, so being able to manage your employees' workload and other tasks is very important.  Bryan advises; “Don't be the guy that's just hanging out in the office. Go on site. Walk the property, and talk personally to all the contractors.” This way, you add value to your property and improve how you properly manage your business.   Highlights of the episode: 00:01:11 Guest Background: Bryce McMurry 00:02:14 How to Capitalize on Construction Projects 00:07:08 Hiring Experts 00:13:53 Managing Workload 00:20:54 Advantages of Metal 00:26:52 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   #construction #addingvalue #workloadmanagement

In today’s episode, we discuss how not to pay taxes. Did you know that when you invest in real estate, you face tax problems? And not just when you sell the property, but at every step along the way. Wouldn't it be nice if there were a service that dutifully executed all of your 1031 transactions? A 1031 tax-deferred transaction can be a well thought out strategy for deferring taxes but missteps in execution can be expensive. There is little room for error when it comes to executing TIC Drop and Swap 1031 transactions, so it is vital to have an experienced tax attorney or accountant overseeing the entire transaction and ensuring that all forms are filed correctly, as well as making sure your money stays in the hands of your investors. Tune in to ensure a successful transaction as Jonathan and I share our knowledge, tricks and experiences.   Highlights of the episode:   00:00:40 Introduction 00:02:48 The Process of TIC Drop and Swap 1031 00:08:39 Membership Interest 00:14:29 Mutual Cooperation Language 00:20:50 Closing Construction Letter 00:26:20 Bills of Sale and Assignment of Leases 00:31:02 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   #tax-free #1031transactions #legalities