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Episodes
The Mobile Home Park Lawyer Podcast with Ferd Niemann IV.
Episodes
Wednesday Nov 06, 2024
Wednesday Nov 06, 2024
Welcome back to the Mobile Home Park Lawyer Podcast! In this insightful episode, we’re joined by John Neet, a seasoned expert in mobile home park appraisals and valuation. John shares his vast knowledge on the complexities of rent control, the nuances of regional regulations, and how these factors impact property valuations, particularly in states like California with highly regulated markets.
John discusses the intricacies of rent control policies and how they affect market value, tenant dynamics, and owner strategies. He sheds light on unique valuation challenges, such as factoring in vacant pads and fractional interests, while also delving into the current landscape of investment in mobile home parks. With decades of experience on the West Coast, John provides valuable perspectives on the future of regulatory changes and their potential to expand eastward, offering listeners essential insights into market trends and long-term investment strategies.
Whether you're managing a small portfolio or a large one, this episode will give you a comprehensive look at property management challenges and opportunities in the mobile home park industry. Tune in now for a discussion filled with practical advice for any property manager or investor!
Highlights of the episode:
00:34 - Guest Intro: John Neet
01:11 - Appraising mobile home parks and focus on the Western U.S.
03:30 - Rent control and its impact on California markets
05:45 - Localized rent control challenges
09:00 - Creative strategies for addressing rent control limitations
13:02 - Valuation of vacant pads
17:45 - Discussing cap rates in today’s economic environment
22:20 - Fractional interest valuation and ownership complexities
27:35 - Understanding local regulations for accurate appraisals
31:42 - Shifts in buyer demographics and new trends in park ownership
37:20 - The future of regulatory impacts expanding eastward
43:56 - Closing insights and how to contact John Neet
Connect 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
Connect with the Guest:
Website: https://www.johnneet.com/
Linkedin: https://www.linkedin.com/in/john-neet-b9b3ab12/
#RentControl #PropertyManagement #MobileHomePark #RealEstateInvesting #ValuationStrategies
Thursday Oct 31, 2024
Thursday Oct 31, 2024
Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we’re joined by Luis Platt, who shares his unique journey from brokerage to becoming a vendor in the mobile home park (MHP) industry, now specializing in high-speed internet solutions with Quickbit Internet.
Luis discusses the increasing need for reliable internet connectivity in MHPs and how fiber optic technology can help park owners attract higher-income tenants, enhance security, and improve overall property management efficiency. He explains how fiber optic internet infrastructure benefits residents who work from home, game, or rely on stable connections for daily needs, and how it can even help lower insurance premiums. From security enhancements to supporting work-from-home lifestyles, Luis offers valuable insights into how digital infrastructure is changing the landscape of mobile home park living and management.
Whether you're managing a small portfolio or a large one, this episode will give you a look into the future of property management technology and how it can help your business grow. Tune in now for a great conversation filled with practical advice for any property manager or investor!
Highlights of the episode:
00:32 - Guest Intro: Luis Platt
03:25 - Transition to Quickbit Internet and its role in the MHP sector
05:00 - Fiber optic technology without digging
06:50 - Benefits of high-speed fiber optic internet for MHP residents
options
11:10 - Future-proofing communities with digital infrastructure
15:01 - Leveraging internet connectivity for better security and cost savings
20:31 - Impact of connectivity on residents' job opportunities and lifestyle
24:22 - Addressing challenges and misconceptions around MHP internet solutions
26:57 - Closing thoughts and how to contact Luis Platt
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:
Website: https://www.kwikbitinternet.com/
Linkedin: https://www.linkedin.com/in/luisplatt/
Instagram: https://www.instagram.com/kwikbitinternet/
#PropertyManagement #MobileHomePark #FiberOptic #TenantConnectivity #RealEstateTech
Thursday Oct 24, 2024
Thursday Oct 24, 2024
Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we’re joined by Tanner Buuck, team lead at Yardi for manufactured housing sales. Tanner provides valuable insights into the world of property management software, sharing how technology is modernizing the operations of mobile home park communities. He discusses the challenges operators face, such as streamlining accounts receivable, improving tenant communications, and automating operations like utility billing and invoicing. Tanner highlights the tools that Yardi offers to simplify these tasks, making property management more efficient.
From utilizing AI, implementing resident portals, and the benefits of automating collections to leveraging CRM systems for better marketing, Tanner provides actionable tips for operators to maximize efficiency in managing their properties.
Whether you're managing a small portfolio or a large one, this episode will give you a look into the future of property management technology and how it can help your business grow. Tune in now for a great conversation filled with practical advice for any property manager or investor!
Highlights of the episode:
00:00:48 - Guest Intro: Tanner Buuck
00:05:02 - Challenges operators face with modernizing operations
00:06:40 - Streamlining accounts receivable and utilizing property management software
00:08:47 - The evolution of AI in multifamily and manufactured housing
00:12:20 - Automating invoicing and improving operational efficiency
00:15:10 - Utilizing CRM tools to manage leads and tenant engagement
00:19:08 - Implementing resident portals and the importance of online payment systems
00:21:50 - Managing utility bill backs and compliance
00:26:30 - Automation in accounting and maintenance management
00:31:10 - Closing thoughts and where to find more information
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:
Website: https://www.yardibreeze.com/
Linkedin: https://www.linkedin.com/in/tbuuck/
Instagram: https://www.instagram.com/YardiBreeze/
#PropertyManagement #MobileHomePark #RealEstateTech #TenantManagement
Thursday Oct 17, 2024
Thursday Oct 17, 2024
Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we dive into the complex but crucial topic of the Right of First Refusal (ROFR) provisions in mobile home park (MHP) contracts and leases. Host Ferd Niemann breaks down the pros and cons of these provisions for both tenants and landlords, sharing insights on how the growing trend of statutory ROFR is impacting MHP transactions in various states.
Ferd covers why ROFR is gaining traction in 16 states and discusses real-life examples where these provisions come into play, including the financial, operational, and legal challenges landlords face when selling parks. He also explores how these rules can protect tenants from sudden evictions and provide opportunities for them to own the parks they live in, while also addressing the strain these provisions can place on the landlord-tenant relationship.
Whether you’re a park owner navigating state laws or a tenant exploring your rights, this episode will equip you with practical knowledge to handle the complexities of ROFR in real estate transactions. Tune in now for a comprehensive breakdown of this timely issue.
Highlights of the episode:
00:00:34 Introduction and overview by Ferd Niemann
00:01:05 What is Right of First Refusal (ROFR) and why it's becoming more common
00:03:15 How ROFR provisions impact landlords’ ability to sell mobile home parks
00:05:22 Key challenges tenants face in executing a ROFR
00:08:07 Financial and legal considerations for landlords
00:11:15 Real-life examples of ROFR transactions gone wrong
00:14:32 How ROFR can affect landlord-tenant relationships
00:17:02 Legislative trends and the growing influence of tenant rights in real estate
00:19:02 Final thoughts on navigating ROFR as a park owner or investor
00:20:00 Closing remarks and where to find more resources
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
#RightOfFirstRefusal #MobileHomePark #RealEstateInvestment #TenantRights
Thursday Jul 04, 2024
Thursday Jul 04, 2024
Welcome to another episode of the Mobile Home Park Lawyer Podcast! Today, we are excited to have Justin Donald, the founder of The Lifestyle Investor and author of the Wall Street Journal #1 bestseller "The Lifestyle Investor: The 10 Commandments of Cash Flow for Passive Income and Financial Freedom." Justin is on a mission to help people achieve financial freedom through low-risk cash flow investing.
Justin shares his journey from his early days of investing to building a nine-figure net worth and creating a lifestyle-centric approach to investing. He discusses the importance of passive income, the power of mobile home park investments, and the strategies he uses to simplify complex financial systems. Justin also provides insights into balancing life and business, the significance of finding the right team, and the value of joining masterminds and learning from successful investors.
Tune in to gain actionable advice on low-risk cash flow investing, building a lifestyle-focused investment portfolio, and achieving financial freedom.
Highlights of the episode:
00:00:34 Welcome and introduction of guest Justin Donald
00:01:05 Justin's background and journey into investing
00:02:00 Discovering mobile home parks as a profitable investment
00:05:00 Transition to full-time investing and achieving financial freedom
00:11:20 Building systems and hiring the right team
00:15:15 Importance of off-market deals and finding invisible opportunities
00:20:30 Challenges in the mobile home park industry
00:26:40 Strategies for maintaining and growing a portfolio
00:35:00 Overcoming local government challenges
00:39:30 Closing remarks and how to find Justin Donald
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:
Website: https://justindonald.com/
Podcast: https://justindonald.com/podcast/
Instagram: https://www.instagram.com/justindonald/?hl=en
Linkedin:https://www.linkedin.com/in/justinwdonald
Facebook: https://www.facebook.com/justin.donald.79
Twitter: https://twitter.com/JWDonald1
Youtube: https://www.youtube.com/channel/UCCM-bhk3FxHQRDXXlDU2r2Q
Linktree: https://linktr.ee/JustinDonald
Book “The Lifestyle Investor”
#MobileHomeParks #RealEstateInvestment #LowRiskInvesting
Friday Jun 28, 2024
Friday Jun 28, 2024
Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we are thrilled to have Aleksey Chernobelskiy, an expert advisor for Limited Partners (LPs) and General Partners (GPs), as our guest. Aleksey shares his extensive knowledge on vetting and managing LP investments, providing valuable insights for both seasoned and aspiring investors.
Aleksey delves into the current challenges in the real estate investment landscape, such as floating rate debt and the impact of changing cap rates. He explains the importance of thorough due diligence, understanding rate caps, and the nuances of capital calls. Aleksey also highlights the critical role of alignment of interests between GPs and LPs, and the significance of transparent communication and ethical practices in real estate syndications.
Tune in now to gain actionable advice on how to navigate the complexities of real estate investments, evaluate potential deals, and make informed decisions to optimize your portfolio.
Highlights of the episode:
00:00:34 Welcome and introduction of guest Aleksey Chernobelskiy
00:01:05 Aleksey's background and experience in real estate investment
00:03:15 Current challenges faced by GPs and impact on LPs
00:05:54 Understanding floating rate debt and rate caps
00:08:03 Evaluating capital calls and their implications
00:11:56 Alignment of interests between GPs and LPs
00:15:45 Importance of due diligence and transparent communication
00:20:04 Common pitfalls in real estate syndications
00:35:01 Aleksey's insights on ethical practices in real estate
00:39:37 Closing remarks and how to find Aleksey Chernobelskiy
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:
Website: https://www.centriocapital.com/
Email: aleksey@hey.com
Linkedin: https://www.linkedin.com/in/chernobelskiy/
X: https://x.com/chernobelskiy
#RealEstateInvestment #LPAdvice #MoblieHomeParks
Wednesday Jun 19, 2024
Wednesday Jun 19, 2024
Welcome back to the Mobile Home Park Lawyer Podcast! Today, we're excited to bring you a wealth of knowledge from our distinguished guest, Jordan Savitsky, with 50 West Capital. Jordan is an experienced entrepreneur with a background in various business ventures, including real estate and mobile home park (MHP) investments.
In this episode, Jordan shares his journey from private equity to real estate, emphasizing his approach to learning by doing and the importance of thorough due diligence. He offers valuable insights into strategies for finding the right deals, navigating the challenges of different markets, and operational tips that can make or break your investment.
Jordan discusses the nuances of managing park-owned homes, the importance of due diligence, and the value of having a working capital budget. He also highlights the significance of finding the right tenants and shares personal anecdotes about tenant screening and operational adjustments that have contributed to his success in the MHP space.
Don't miss this insightful conversation that dives deep into the operational and strategic aspects of mobile home park investments. Whether you're a seasoned investor or just starting, Jordan's experiences and advice will help you navigate the complexities of the MHP market! Tune in Now!
Highlights of the episode:
00:00:07 Introduction and overview by Ferd Niemann
00:00:34 Welcome and introduction of guest Jordan Savitsky
00:05:04 Initial deal criteria and lessons learned from the first deals
00:07:46 Importance of due diligence and working with experts
00:14:57 Value of park-owned homes and strategies for managing them
00:19:08 Tenant screening and the importance of finding the right tenants
00:26:52 Operational tips and experiences post-closing
00:36:29 Strategies for marketing and attracting the ideal tenant demographic
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:
Email: jordan@50westcapital.com
Linkedin 50West: https://www.linkedin.com/company/50west-capital/
Linkedin Jordan: https://www.linkedin.com/in/jordan-savitsky-64505b23/
#MobileHomePark #RealEstateInvestment #OperationalInsights
Sunday Jun 16, 2024
Sunday Jun 16, 2024
Welcome to another episode of the Mobile Home Park Lawyer Podcast with your host, Ferd Niemann. In this Independence Day special, we celebrate freedom and community while diving deep into the world of mobile home parks.
In this episode, Ferd dives into a case study that showcases how to manage a mobile home park investment when everything seems to go wrong. This real-life example highlights the challenges and lessons learned from a deal that didn't go as planned, yet still resulted in a modest profit. The deal, located in Missouri, spanned from early 2021 to late 2023, covering 22 months of ownership. The park, consisting of 36 sites, was initially under contract for $850,000 but was ultimately purchased for $650,000 and later sold for just under $1.8 million.
Business Plan
The business plan included various improvements: repairing roads, sub-metering water and sewer, infilling homes, renovating and demolishing homes, and adding signage. The park also featured small amenities like a playground and picnic area.
Challenges Faced
However, numerous challenges arose throughout the process. These included acquisition issues like disagreements on pricing and retraining negotiations, as well as operational hurdles such as cost overruns, problems with concrete measurements, lot slopes, and unexpected electrical upgrades. Additionally, changing city regulations on home placements and power line requirements added to the complexity. The park also faced tenant problems, including evictions and vandalism.
Lessons Learned
Despite these obstacles, several key lessons were learned. The importance of thorough due diligence and planning for unforeseen expenses became clear. Flexibility in adapting to new challenges and regulations proved essential. Effective community management, especially in handling problematic tenants and improving park safety, was crucial.
Tune in to this insightful episode to learn more about surviving and thriving in the mobile home park industry.
Timestamps:
00:00 Buying and selling mobile home parks, with a focus on value-add strategies and lessons learned.
02:10 Real estate deal with cost overruns and permitting issues.
06:40 Electrical issues in a housing development.
09:51 Electrical code violations in a mobile home park.
15:38 Drug use and crime in a neighborhood, including a violent incident and a renovation project.
21:22 Winter home challenges and repairs.
24:28 Challenges with a mobile home park, including tenant issues and cost overruns.
29:31 Challenges and lessons learned from renovating a mobile home park.
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
#MobileHomePark #RealEstateInvestment #Deals
Friday Jun 14, 2024
Friday Jun 14, 2024
Welcome back to the Mobile Home Park Lawyer Podcast! Today, we have an engaging episode featuring Frank Rizzo, co-founder of Stone Capital. Frank is a value-add specialist with extensive experience in redeveloping mobile home parks and other real estate assets.
In this episode, Frank shares his journey in the mobile home park industry, focusing on deep value-add opportunities, infill strategies, and infrastructure improvements. He discusses the importance of thorough market analysis, balancing the challenges of infill projects, and the strategic considerations for acquiring parks with varying occupancy levels.
Frank and Ferd dive into operational tips, including the benefits of early infrastructure improvements, the significance of tree and road work, and the nuanced approach to rent increases. Frank also highlights the challenges and successes of managing multiple parks within the same market and shares valuable lessons learned from his extensive experience.
Tune in now to gain insights on value-add strategies, market dynamics, and practical tips for optimizing mobile home park investments!
Highlights of the episode:
00:00:34 Welcome and introduction of guest Frank Rizo
00:01:05 Frank's background and entry into the mobile home park industry
00:03:15 Balancing infill projects and market absorption rates
00:05:54 Operational challenges and the importance of team logistics
00:13:26 Strategic approaches to rent increases and community improvements
00:27:15 Value-add success story in Laurinburg, North Carolina
00:33:14 Tips and lessons learned for value-add investments
00:39:01 The importance of having a good attorney
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:
Website: https://www.stonecapinv.com/
Linkedin: https://www.linkedin.com/in/frank-rizzo-20818843/
#MobileHomeParkInvesting #ValueAdd #OperationalTips
Friday May 17, 2024
Friday May 17, 2024
Welcome to a new episode! Today, we take a deep dive into the world of real estate investment and market dynamics with our distinguished guest, Walter Johnson, Founder & CEO of SONOS Capital.
With over 16 years of experience spanning the Real Estate and Banking Industries, Walter brings a wealth of expertise to the table. Known for his adept leadership and passion for continuous improvement, Walter has served in various capacities, from Real Estate Investor & Vice President to High Converting Banker & Sales Manager.
In this episode, Walter shares invaluable insights into strategies for finding and managing deals in the real estate market, navigating the challenges and potential benefits of dealing with private utilities, and implementing effective strategies for bringing in new homes to a mobile home park.
He also discusses the challenges and expansion plans in the real estate market, the potential for competition and consolidation in the mobile home park industry, and offers tips for increasing cash flow amidst market consolidation.
Don't miss this opportunity to gain wisdom from Walter Johnson as he navigates through these dynamic topics, offering guidance that could redefine your approach to real estate investment. Tune in now to discover cutting-edge strategies and ensure your investments thrive in today's ever-evolving market landscape!
Highlights of the episode:
00:00:07 Guest Introduction & Background: Walter Johnson
00:02:30 Strategies for finding and managing deals in the real estate market
00:04:58 The challenges and potential benefits of dealing with private utilities
00:09:59 Strategies for bringing in new homes to a mobile home park
00:14:58 Challenges and expansion plans in the real estate market
00:19:59 The potential for competition and consolidation in the mobile home park industry
00:24:54 Consolidation in the market and tips for increasing cash flow
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:
Website: www.sonoscapital.com
Linkedin: https://www.linkedin.com/company/sonos-capital/
#MobileHomePark #ManufacturedHomes #MarketInsights