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The Mobile Home Park Lawyer Podcast with Ferd Niemann IV.
Episodes
Wednesday Mar 22, 2023
Wednesday Mar 22, 2023
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
Wednesday Mar 15, 2023
Wednesday Mar 15, 2023
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
Wednesday Mar 08, 2023
Wednesday Mar 08, 2023
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 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
Wednesday Dec 07, 2022
Wednesday Dec 07, 2022
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
Wednesday Nov 23, 2022
Wednesday Nov 23, 2022
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
Wednesday Nov 09, 2022
Wednesday Nov 09, 2022
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
Wednesday Nov 02, 2022
Wednesday Nov 02, 2022
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
Wednesday Oct 12, 2022
Wednesday Oct 12, 2022
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
Wednesday Oct 05, 2022
Wednesday Oct 05, 2022
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
Wednesday Oct 05, 2022
Wednesday Oct 05, 2022
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