The Mobile Home Park Lawyer Podcast

Ep. 152 | Ferd Niemann on Being Obstinate and How It Can Save the Day

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

Ep. 151 | Ferd Niemann on the Factors to Consider when Selecting a Title Company

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

Ep. 150 | Interview With Jonathan Gilmore: Escrow Holdback Agreement

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

Ep. 149 | Interview with Paul Bradley: How to Sell Your Mobile Home Parks to Your Residents

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

Ep. 148 | How to Break Into Mobile Home Parks

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

Ep. 147 | Working with the Community to Improve and Build a Portfolio

In today’s episode, we talk to Craig Napoliello. Craig is a real estate hustler, owned a couple of multi-family properties, but now focuses on mobile home parks. Craig got into mobile home parks for about three years now and ended up selling 1031 of his multi-family properties to deepen his interest in real estate. After having encountered several highs and lows, Craig, together with his partner Kevin, find mobile home parks as a fundamental operation to not only sustain income, but also take it as a motivation to provide other families a great place to live.

 

Craig joins Ferd to share insights about how inspiring the realm of mobile home parks can be. Craig points out that there is real work to be done into making mobile home parks successful. If you want to have a high-quality and well-respected business, then you must be willing to take a lot of work. Despite trial and errors along the way, you must learn to love what you do.

 

Highlights of the episode:

00:00:48 Guest Intro : Craig Napoliello

00:01:28 Craig’s Background

00:03:08 Introducing His Business Partner

00:04:52 How Personal Business Relationships Can Be Challenging

00:06:34 Going to North Carolina

00:08:10 Reflecting on New Opportunities

00:10:37 Importance of Partnering With Experts in Your Field

00:12:27 Being Courageous to Take It All

00:13:19 How Craig Navigated Through the Loose Ends

00:16:10 Finding Deals

00:17:41 Number of Deals Closed Through Referrals

00:22:30 Thank You’s as Testimonials

00:23:28 Exerting Extra Effort

00:25:59 Ups and Downs That We Can Learn From

00:26:35 Learning to Love What You Do

00:30:30 Advantages and Disadvantages of Mobile Home Parks

00:39:00 Cautions

00:50:09 Closing

 

Connecting with the Guest:

Linkedin: https://www.linkedin.com/in/craig-napoliello-b5122a58/

Email: craig@40oaks.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

 

#wholesale

#mobilehomepark

#sidehustle

Ep. 146 | How to Minimize Tax Impact and Win as a Mobile Home Park Owner

In today’s episode, we will be having a conversation with Gerard O’Sullivan. Gerard O'Sullivan  is a successful businessman and a mobile home park investor and operator. He has been investing actively and passively in multifamily for 20 years and just recently got into mobile home parks for 2 years. He learned that while the depreciation on multifamily assets is good, the depreciation on mobile home parks is even better.

 

Gerard joins Ferd to share insights about: (1) the amount of commitment, time and effort there is in being a business owner; (2) how taxes can become a primary driver in business; (3) how real estate can be used as a tax strategy; and (4) how he was able to maximize his finances in the MHP space.

 

Highlights of the episode:

00:00:39 Guest Intro: Gerard O’Sullivan

00:01:24 Background of the Guest

00:02:20 Getting Into Business in Your Early Twenties

00:04:45 Real Estate Space

00:05:38 Tax as Maturity Driver

00:08:02 Beginning of Multifamily World 

00:08:32 How to Take Advantage of Bonus Depreciation

00:14:19 Tax Code in the IRS

00:18:42 Cost Segregation

00:21:30 Learning New Spaces and Gathering New Experiences

00:38:51 Balance Between Work and Family

 

Connecting with the Guest:

Website: https://spindriftcapitalpartners.com/ 

Contact: 516-445-2974

 

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

 

#powerintaxes

#mobilehomeparks

#realestate

Ep. 145 | How To Wholesale and Buy Mobile Home Parks as a Side Hustle

In today’s episode, we talk to Eric Lindsey. Eric is a real estate hustler, owns and flips mobile home parks while investing in homes and apartments. Eric got into Mobile home parks four to five years ago as a solution to address his job instability in the construction arena. After having encountered several layoffs, finding a secure job but then facing corporate politics along the way, it was then evident for him to seek and double down on other income sources.

Eric joins Ferd to share insights about wholesaling mobile home parks as a great way to get training wheels for ownership. Eric deeps dive into his processes and best practices on how to operate mobile home parks as a side hustle.

Highlights of the episode:

00:00:38 Guest Intro: Eric Lindsey
00:01:04 Eric’s background
00:04:24 What Eric sees in today’s marketplace
00:05:59 Wholesale as a training wheel step to ownership
00:11:28 The process of wholesale on homes, parks, and apartments
00:14:12 Ways to locate mobile homes 
00:17:07 Wholesaling a mobile home on a handshake and best practices
00:19:00 Convincing people to just wire the money
00:22:09 Tips and tricks for people who want to get into the MHP space

Connecting with the Guest:

Website: https://ericlindseyrei.com/
LinkedIn: https://www.linkedin.com/in/eric-lindsey-15b937123/?trk=public_profile_browsemap
Email: moonlightequitiesgoup@gmail.com
Facebook: https://www.facebook.com/MoonlightSideHustle/
Podcast: “The Moonlight Real Estate Side Hustles and Syndications Show”

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

#wholesale
#mobilehomepark
#sidehustle

Ep. 144 | Contractor Paperwork for Pros and Schmos

In this episode, Ferd talks about the differences between hiring a Pro versus a Schmo contractor. He also explains why pros are expensive compared to Schmos. Ferd also discusses why there is a need to have general liability insurance for workers or contractors. 

Listen to the episode as we learn more about the best practices for hiring pros versus schmo contractors and identify how and when to hire one or the other.

Highlights of the episode:

00:00:32 Pros vs Schmos Contractor
00:04:37 General Liability Insurance
00:06:29 Why you should never hire a schmo
00:07:26 Pro is expensive while the waiver is risky
00:10:07 COI certificate insurance
00:15:08 When do you need to hire a pro or a schmo
00:19:42 Best practices for hiring pros vs schmos

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

#Schmos
#GeneralLiabilityInsurance
#Hiringcontractors

Ep. 143 | Should I Accept Section 8 for My Mobile Homes

Section 8 is an opportunity for low-income families and residents to rent apartments and housing at fair market rates.

In this episode, Ferd Niemann shares with us real-life experiences and examples of section 8, whether a landlord or tenant should allow this arrangement and the cost that comes with it.

Highlights of the episode:

1:57 - What is section 8?
2:09 - Pros of Section 8
2:54 - Cons of Section 8
4:29 - Is section 8 favorable among MH
4:56 - Regulators of Section 8
6:28 - Old stereotypes on low-income tenants
7:26 - Different real-life encounters under section 8
20:45 - Wrapping up on section 8

Notable Quotes 

4:11 - “Just because people are poor doesn’t mean they shouldn’t have the same kind of housing or livability standard” - Ferd Niemann

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

#Section8
#MobileHomes
#realestateopportunities