182.6K
Downloads
197
Episodes
The Mobile Home Park Lawyer Podcast with Ferd Niemann IV.
Episodes
Wednesday Jul 20, 2022
Wednesday Jul 20, 2022
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
Wednesday Jul 13, 2022
Wednesday Jul 13, 2022
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
Wednesday May 04, 2022
Wednesday May 04, 2022
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
Friday Apr 29, 2022
Friday Apr 29, 2022
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
Wednesday Apr 20, 2022
Wednesday Apr 20, 2022
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
Wednesday Apr 13, 2022
Wednesday Apr 13, 2022
It’s always critical to your deal the level of due diligence you can apply before purchasing a property. In this episode of the MHP Lawyer Podcast, Ferd Niemann shares his own due diligence list specific to mobile home parks and highlights the importance behind each one of them to how they can be leveraged strategically to manipulate the contract and timing associated with your offer.
The devil is in the details and the victory is in the details of the contract. Tune into this episode to use the ultimate seller deliverable list that will change the way you write your contract and change the outcome of the offers that you write.
Highlights of the episode:
00:47 - The importance of a seller due diligence list
03:20 - Copies of existing surveys
04:12 - Third-party reports
06:01 - Copies of the permits
06:25 - Copies of leases
06:39 - Private utilities and insurance policies
07:06 - Right of first refusal
07:13 - When to get copies of property tax bills
08:15 - Letters of non-compliance
08:46 - Copies of utility bills
08:56 - Copies of vendor contracts
09:50 - List of the 5 best and worst aspects of the property
10:21 - P&Ls
10:45 - Tax returns
11:15 - Capital expenditures
11:29 - Age, type, and material of the structure
12:24 - List of infrastructures and refurbishing issues
13:08 - Personal property included in the sale
14:29 - Criminal activity and problem tenants
14:52 - Copies of title
15:21 - Copy of any title policy or insurance
Notable Quotes
“The part of this due diligence list, for purposes of due diligence, is also kind of a way to extend your inspection period and your closing period.” - Ferd Niemann
“It’s crucial to understand property taxes. It’s one of the most important variables in the operating expenses that I see brokers lying about all the time, and I see buyers and sellers not understanding all the time. ” - Ferd Niemann
“The devil’s in the details, but sometimes the victories are in the details of contracts.” - 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
#DueDiligence
#Checklist
#MHP
Thursday Apr 07, 2022
Thursday Apr 07, 2022
This week's episode is about the pros and cons of owning a small mobile home park. Ferd Niemann shares the pros and cons of buying a small mobile home park. While some pros exist such as getting a chance to connect with tenants on a more personal level, cons also do exist such as not having the ability to hire a full time property manager. In addition to this discussion of contrast between the two, Ferd also weighs in by using his personal experience as a small mobile home park owner and addresses the problems that he faced and had overcome.
Highlights of the episode:
00:20 - What Is A small park
01:21 - Initial Cons of owning a small park
03:24 - Paying The Park In Cash
03:40 - Not having a full time manager
03:52 - Finding at a higher cap rate
05:00 - Easier to Zone
05:23 - Less tenants equal less headaches
05:34 - 1 vacant unit will be a big hit to the business
06:06 - Getting more personal with the tenants
06:34 - Issues with scaling
07:53 - Conclusion
Notable Quotes
“In general, smaller parks are going to cost less, it’d be cheaper and require less cash.” - Ferd Niemann
“It may be a nice trial park, depending on where you are financially.” - Ferd Niemann
“You could know all the tenants by name” - 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
#SmallMHP
#ProsAndCons
#MHP
Thursday Mar 31, 2022
Thursday Mar 31, 2022
Jamie Simerly has experience in installing sewer and water utilities for new residential and commercial construction. He has been with Homestead Inspection since 2019. Homestead Inspection is a family-owned and operated business with over 30 years of residential building experience and over 24 years in home inspection services.
In this episode, Jamie will deep dive into the common problems investors face with sewer lines such as identifying a previous repair, a tree root clog, and more. He also discusses why Orangeburg pipes still exist today even though they’ve been disallowed by the government. Finally, Jamie shares his typical quotes in service at Homestead inspection so that you can have a baseline in your market or even possibly inquire about his services should you need them for your properties.
Highlights of the episode:
00:32 - Introduction of Jamie Simerly
01:03 - Background of Jamie Simerly
02:42 - How to do sewer surveys
05:53 - Determining an Orangeburg pipe
08:44 - Why you should check your sewer line
09:30 - Other materials you should avoid for your sewer line
12:43 - Failure points of clay pipes
17:21 - Common fixes for clay pipes
18:43 - Different Types of sewer piping problems
18:57 - How to tell if it’s had a previous repair
20:08 - How to tell if it’s a tree root clog
22:16 - Why there shouldn’t be water sitting on the pipe
23:52 - Checking out on the disconnects
24:35 - Pricing for Jamie’s services
27:54 - Knowing if your manhole is connected to the sewer line
30:27 - Talk to people in the community first
33:11 - How to reach Jamie
Notable Quotes
“If you don’t have it properly cleaned out and descalled, then you don’t know what you’re dealing with until it breaks” - Jamie Simerly
“If you don’t have enough room to actually put a 4 inch pipe into a line that’s been reduced down to 2 inches, then you won’t be able to sleeve it at all.” - Jamie Simerly
“We want to give you the most information that we can, possible, out of us going out and doing a sewer survey.” - Jamie Simerly
Connecting with Guest
Phone Number: (816) 883-1090
Website: https://www.homestead-inspection.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
#Sewerline
#TypesOfPipes
#SewerSurvey
Thursday Mar 24, 2022
Thursday Mar 24, 2022
In this episode, Ferd Niemann shares his thoughts on why the concept of rent control should be removed. Ferd expands on the detrimental long-term effects of Rent Control such as low quantity and quality of housing. He also discusses the three types of Rent Control (strict price, vacancy control, and vacancy de-control) which are all real-world examples of the impacts they can have on the future market. Finally, Ferd notes that other investors may not know that they are victims of Rent Control and why Rent Control isn’t institutionalized.
Highlights of the episode:
00:32 - Introduction
03:25 - Why Rent Control Is Bad In The Long Term
06:08 - Types of Rent Control
12:00 - Long Term Impact of Rent Control
13:48 - Why Rent control isn’t institutionalized
19:35 - Conclusion
Notable Quotes
“Capital goes where it is welcome, and it stays where it’s appreciated.” - Ferd Niemann
“If my expenses keep going up and my revenue is fixed; I’m going to choose not going to do some of the discretionary stuff.” - Ferd Niemann
“In the development game, I'm not going to add more risk in capital if you’re not going to increase my upside.” - 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
#RentControl
#RentRegulation
#AffordableHousing
Thursday Mar 17, 2022
Thursday Mar 17, 2022
In this episode, Ferd Niemann discusses the importance of hiring a great property manager in the mobile home park business. Ferd expands on the importance of hiring slow and sometimes needing to fire fast. Ferd reviews the soft and hard skills that it takes to become a great property manager along with the core values that he and his team look to align with when hiring. If you’re looking to hire a property manager for your mobile home park, you’ll want to listen to the ‘12 steps to hire best’ clearly outlined in this episode.
Highlights of the episode:
00:32 - Introduction
01:31 - Recent experience at Mcdonald’s
03:19 - Why having a good property manager is essential
08:16 - Skills that all employees need to have
11:22 - 12 Steps to a proper hire
Notable Quotes
“I’d much rather pay somebody 30k base and 30k in commissions than pay someone 40k base. What I found is that the guy/gal that will take the lower base is hungry for commissions and they’re my best players.” - Ferd Niemann
“Not having the person here is a pain, but hiring the wrong person and then having to fire them or they quit and then do it all over again is a bigger pain.” - Ferd Niemann
“I’m calling references at this point because they can make or break the deal sometimes.” - 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
#TeamBuilding
#HiringProcess
#PropertyManager