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Episodes
The Mobile Home Park Lawyer Podcast with Ferd Niemann IV.
Episodes
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
Wednesday Sep 21, 2022
Wednesday Sep 21, 2022
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
Wednesday Sep 14, 2022
Wednesday Sep 14, 2022
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
Wednesday Sep 07, 2022
Wednesday Sep 07, 2022
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
Wednesday Aug 31, 2022
Wednesday Aug 31, 2022
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