Ep. 163 | Interview With MHP Owner and Operator Yoel Kelman on How to Grow an MHP Company

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

Ep.162 | Interview With MHP Owner and Broker Enon Winkler on How To Navigate A Challenging Capital Market

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

Ep. 161 | Interview With Bryce McMurry on Growing A Portfolio With A Contractor Mindset

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

Ep. 160 | Interview with Jonathan Gilmore on the Dutiful Execution of TIC Drop and Swap 1031 Transactions

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

Ep. 159 | Ferd Niemann on the Legal Risks For the Unweary, Navigating the Acquisition

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

Ep. 158 | Interview With Ryan White on Navigating the Evictions Process

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

Ep. 157 | Interview with Mitchel Armstrong on How To Hustle, Network, and Persevere Into MHP Success

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

Ep. 156 | Ferd Niemann on How To Write A Cover Letter to LP or Passive Investors

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

Ep. 155 | Ferd Niemann on How and When to Use a Master Lease with Option to Purchase

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

Ep. 154 | Ferd Niemann on Why and When Do I Need A PPM Over a Joint Venture

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