The Mobile Home Park Lawyer Podcast

Today, we discuss the risks that come with property acquisition. In today's real estate market, home purchases may not always result in what you expected. It's not just the property itself, but also the hidden traps of the contracts that can bite you. Whether you are buying a new or existing home, duplex, triplex, or commercial property, there are many legal matters to consider. Buying a home can be a time-consuming and daunting process, especially with the ever-changing regulatory climate. But did you know that some title insurance providers may be exposed to the risk of future licensing or regulatory requirements? If you don't protect yourself right away, it will be too late — after your money is lost. Listen to this episode and learn how you can protect yourself.   Highlights of the episode: 00:01:08 Letter of Intent 00:03:24 Contract 00:04:10 Endorsement Offer 00:04:41 Survey  00:05:59 Phase One Environmental 00:08:23 City’s Police Power 00:09:04 Concerning Bank Documents 00:13:00 Closing Instruction Letter 00:16:30 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   #legalrisks #propertyacquisition #legalrequirements

Today, we discuss both the rights and responsibilities of tenants and landlords when it comes to property real estate renting and or leasing. A landlord’s desire for security and a tenant’s right to a safe and habitable residence are often at odds. A lease agreement is more than just a piece of paper — it lays out the legal terms agreed upon by two parties. As in any contract, breach of the agreement can be grounds for eviction. Navigating the eviction process can be a challenge. Learn about the steps involved, deadlines and requirements for the landlord, tenant and court when it comes to eviction in the leasing of real estate.   Highlights of the episode: 00:00:37 Guest Introduction 00:02:37 Eviction Process 00:04:49 Eviction Notices 00:06:10 How to Prove a Non-third Party  00:17:20 Who Initiates the Process 00:18:24 What to Do When You Can’t Find the Person 00:22:00 Unlawful Detainer 00:27:32 Witness 00:32:26 What Happens if the Person Doesn’t Leave 00:39:20 Writ of Restitution 00:43:08 Tax Refund 00:45:39 What Happens When You Don’t Write a Lease   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   #evictionprocess #leasing #tenants

Networking has become more robust in this day and age. Being in the right place at the right time and referrals through word of mouth has always been a reliable method of getting more business. But you’d be surprised how many opportunities there are in places like the Facebook Marketplace. Let’s explore these opportunities with Mitchel Armstrong as he shows us how he expanded his hustle to find some great deals and lenders online.   Highlights of the episode:   00:00:32 Guest Introduction 00:01:32 How to make your first jump into Real Estate 00:02:20 Flipping a bad Property situation into a Good one 00:03:25 Using Zillow Effectively 00:06:17 How to get an Easy Contract in a short period of time 00:12:19 Finding a bigger investor VS several small investors 00:20:20 The Next Move on Extra Income 00:33:55 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   #HowToHustleOnline #FindingLendersandDeals #ProftingThroughWordOfMouth

Today, we discuss the importance of a written correspondence especially for investors. Most real estate transactions require some form of written contract, and it's very important that this portion of the transaction be addressed quickly and efficiently! Even simple verbal agreements can cause major problems, especially during periods of high volume. Many investors rely on automatically generated e-contracts which have been customized to their needs. A lot of people don't realize that the way you word a letter can have significant consequences on its outcome. A written correspondence is vital to protect your interests and is essential to protect both the buyer and the seller. It provides the recipient with clear notice and evidence of your intentions in a timely manner.  Hence why it's so important to be precise when writing a legal correspondence in real estate.   Highlights of the episode: 00:00:32 Podcast Intro 00:01:58 Basic Good Practices 00:07:24 Subscription Agreement 00:09:54 Target Internal Return Quote 00:10:36 Property Management Agreement Assumptions 00:13:19 Capacity Offering 00:17:42 Sample Execution Letters 00:23:12 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   #writtencorrespondence #investors #agreements

Today, we discuss what a Master Lease is and how and when you can use this for purchase.  Master Lease is a controlling lease that gives the lessee the right to control and sublease the property during the lease. The lessee has equitable title to the property while the owner retains the legal title. It is commonly used in commercial real estate deals. When you want to purchase intermediate amounts of space and want to obtain maximum flexibility without being bound by long-term commitments, then you surely should consider using a master lease.   Highlights of the episode: 00:00:31 Podcast Intro 00:01:45 What Is a Master Lease 00:04:11 General Pros of a Master Lease 00:07:22 Tenant Buyer 00:10:35 Property Management Agreement 00:15:08 Operational Control  00:17:25 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   #masterlease #buyer #purchasingpower

The Private Place Memorandum (PPM) is executed in a legal document that each and every single person has. It contains a unique aspect relating to the individual, but also to the public. Even though a PPM by its nature is private, in this episode, you'll be able to learn the reasons why you should do one and why most people do not like to write privately because of the possible self-disclosure.   Highlights of the episode: 00:00:38 Podcast Intro 00:01:13 Why People Don’t Like PPMs 00:03:00 Security 00:05:06 Capitalization 00:06:08 Two Types of Offerings 00:09:42 Third-Party Verification 00:14:54 Debt and Equity 00:17:00 Depreciation Allocation 00:17:21 Member Ownership 00:18:09 Key Manager Fees 00:23:23 Post Raids  00:29:16 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   #PPM #dataprivacy #legaldocuments

Banks want to lend money, but they're ultra-conservative. You need these tips to help you get approved.  This episode will help you qualify for a loan and understand how to work with bank representatives. It will also offer advice on how to help banks feel more comfortable in dealing with your situation and how to show them that you are worth their time and money. If you've been rejected by the bank or want to avoid getting turned down, here are the 10 steps to help you get your loan approved!   Highlights of the episode: 00:00:38 Podcast Intro 00:03:33 Client Fishing for a Loan 00:04:09 10 Steps 00:04:11 Identifying the Bank 00:05:16 Make an Application 00:06:03 Personal Financial Statement 00:10:10 Business Plan 00:12:35 Financial Analysis 00:13:23 Risks and Opportunities 00:13:41 Management Plan 00:14:04 Resume 0023:25 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   #bankloan #bankapproval #realestate

We all know that mobile home parks are a great way to achieve a sense of stability in our lives. However, one of the downsides of being so settled is that when something goes wrong—like a leaky pipe, gas lines or a rowdy neighbor, it can be tough to get things fixed.   When it comes to mobile home parks, being obstinate can mean the difference between a bad deal and one that will save you thousands. Not all park operators are reasonable, and if you don't know how to say no, your own obstinacy could cost you big.    In this episode, we look at how being obstinate can save the day!   Highlights of the episode: 00:00:00 Podcast Intro 00:00:42 Word of the Day: Obstinate 00:03:00 Negotiating 00:08:40 Zero Setbacks 00:12:00 Not Taking No for an Answer 00:18:20 Property Taxes 00:23:10 Retreat Shakedown 00:26:44 Lesson Learned    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   #beingobstinate #agreements #realestate

The title company you select is critical to your success when buying real estate. An experienced and reliable title company will be experienced in negotiating potentially challenging real estate closing situations smoothly. So, how can you ensure the title company you choose is a good choice? Tune in as Ferd discusses this topic.   Highlights of the episode: 00:00:32 Host Intro  00:03:19 How Do I Choose a Title Company? 00:06:17 Important Fees 00:08:40 Permits / Permission 00:16:32 Conclusion   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   #titlecompanies #agreements #realestate

In a neighborhood with no documentation of water and sewer lines, where the only hold back agreement will be your word, how do you know if the people who came before you did their plumbing right? In today’s episode, we will learn the importance of legal documentation as we discuss the pros and cons behind Escrow Holdback Agreements.   Our guest for today is Jonathan Gilmore. Jonathan is a real estate transactional attorney with over 12 years of experience, who is highly skilled in managing transactions involving land and buildings of every type and nature. Jonathan currently specializes in helping clients buy, sell, lease, finance, and raise capital for real estate deals in homebuilding, multi-family, manufactured housing and commercial real estate sectors.    Escrow Holdback Agreements are an important tool to protect buyers and sellers alike. However, they may sometimes confuse clients or delay the entire real estate closing process due to complicated legal clauses. This is why Jonathan emphasizes that if you are considering buying a property, you should know that there are certain legalities to consider.   Highlights of the episode: 00:00:38 Guest Intro : Jonathan Gilmore  00:01:10 What Is an Escrow Holdback Agreement? 00:05:30 Less Sophisticated Sellers 00:07:31 Closing Deliverable 00:10:00 Title Companies 00:12:35 Small Firm vs. Big Firm 00:15:45 Lender 00:18:00 What Happens if There’s a Fight? 00:20:00 Discussion of Rights 00:23:45 Assignability  00:24:59 Risks of Market and Supply Chain Change 00:29:00 Fire and Other Risks 00:36:40 Closing   Connecting with the Guest: LinkedIn: https://www.linkedin.com/in/jonathan-e-gilmore-5a3651182/   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   #escrow #agreements #realestate