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Episodes
The Mobile Home Park Lawyer Podcast with Ferd Niemann IV.
Episodes
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
Wednesday Aug 24, 2022
Wednesday Aug 24, 2022
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
Wednesday Aug 17, 2022
Wednesday Aug 17, 2022
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
Wednesday Aug 10, 2022
Wednesday Aug 10, 2022
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
Wednesday Aug 03, 2022
Wednesday Aug 03, 2022
In today’s episode, we talk to Paul Bradley. Paul is a mobile home park operator who first stepped into the industry in 1988 when he was still 24 years old. As a young professional back then, he began working for an organization called New Hampshire Community Loan Fund, and since then made it his mission to help low-income people own homes, hence why he founded ROC USA in May 2008.
Paul emphasizes the importance of support. Their cooperatives work with low-income communities to help future residents own homes while being able to secure long-term gains. Paul inspires us how profit with a mission works, especially within low-income communities.
Highlights of the episode:
00:00:45 Guest Intro: Paul Bradley
00:01:17 Guest Shares His Background
00:02:11 The Leap
00:05:37 Difference Between Mobile Home Parks and Owner-Occupied Homes
00:09:24 Value Proposition
00:11:13 Equity
00:14:16 The Fear of Escalating Rents
00:15:43 Increasing Costs
00:19:50 Assessment Ratio and Other Sensitivities
00:26:44 Risk of Transfer
00:30:27 Putting Viable Opportunity
00:35:50 Who Pays for the Due Diligence
00:40:29 Closing
Connecting with the Guest:
Website: https://rocusa.org/
LinkedIn: https://www.linkedin.com/in/paul-bradley-01369813/
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
#beobjective
#havingamission
#cooperatives
Wednesday Jul 27, 2022
Wednesday Jul 27, 2022
In today’s episode, we talk to Dustin Maxwell. Dustin is a commercial airline pilot who lives overseas while managing and owning mobile home parks throughout the United States, but mostly in the Southeast.
Dustin always had a business sense. He emphasizes on building connections with people, reaching out and putting yourself out there. Having open channels of communication, an organizational structure and some standard operating procedures are a must, especially when managing mobile home parks. He states that mobile home park owners must have a plan so they can be proactive instead of reactive.
Dustin joins Ferd to share insights on how mobile home parks can help solve problems in our lives. It should be acknowledged that in the scope of real estate, it is not like studying for a test that either you pass or fail. In real estate, you should have so much power and control just depending on how much work you put into it. You should spend the time researching and educating yourself on it.
Highlights of the episode:
00:00:38 Guest Intro : Dustin Maxwell
00:01:05 Guest Shares His Background
00:03:16 How the Guest Source Deals and Manages Mobile Home Parks
00:10:51 How the Guest Operates Mobile Home Parks
00:13:46 Managing Scope of Works Remotely and Those That Can’t Be Done Remotely
00:15:16 Issues About Water Bill
00:20:57 Tips, Tricks, and Lessons Learned
00:22:54 Taking Accountability For Your Mistakes
00:26:20 Other Strategies From the Guest
00:27:50 Taking Action
00:35:03 Guest Contact Information
00:35:54 Closing
Connecting with the Guest:
Website: https://jetsettercapital.com/
LinkedIn: https://www.linkedin.com/in/dustin-maxwell-06780699/
Email: dustin.maxwell@expressjet.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
#beingproactive
#mobilehomepark
#realestate