The Mobile Home Park Lawyer Podcast

EP 132 | Checking The List for Mobile Home Purchases and Sales

Ferd Niemann talks to his father about what you need to know when you buy or sell a mobile home. Organized into a checklist, father and son huddle to discuss the details and important steps to take in order to land the best deals possible and how to do it the right way. From sales to purchase, to accounting, to deeds, learn from their experience and make their checklist yours to avoid mistakes that will cost you time or money in your mobile home investment journey.

 

Highlights of the episode:

00:00:00 - Episode Introduction

00:00:37 - Start of the topic

00:00:51 - introduction of the guest

00:01:16 - Sales checklist

00:02:06 - Seller’s information and other details

00:02:24 - Lease, payment, and documents

00:03:48 - Titles and bill of sale

00:06:45 - Insurance

00:07:11 - Utilities

00:07:48 - Informing the government and bureaucracy

00:10:02 - Purchase checklist

00:13:05 - Checking for “clean” title

00:13:33 - Taxes

00:14:28 - Arranging cashier’s check

00:15:16 - Arranging for delivery

00:15:33 - Preparing the pad

00:19:33 - Ads

00:20:48 - Wrapping up

 

Notable Quotes

"Pretty simple stuff but if you mess it up it’s gonna hurt."

"The details are really important."

 

Connecting with the Guest:

Website: https://themobilehomelawyer.com/

Facebook:https://www.facebook.com/ferd.niemanniii 

LinkedIn: https://www.linkedin.com/in/ferd-niemann-iii-897456b8 

 

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/

 

#devilsinthedetails

#checklist

#mobilehome

EP 131 | Case Study: How To Make Seven Figures On One Park Ten Minutes From Home

In this week’s episode, Ferd shows us how to increase the value of a park to make $1,000,000 in net cash out proceeds just 26 months after the initial purchase. Ferd walks through the persistence it took to earn this deal and the strategy that led to tax-free dollars in his pocket while being in his hometown of low market rents. Ferd and his father accomplished this without needing to buy an apartment or having to gouge their tenants. In contrast, tenants were left happy with a newly improved community while Ferd and his father turned a couple hundred thousand dollars down, into over $1,000,000 in just about two years. If you are looking for ways to increase and appraise your park’s VALUE the right and efficient way, this episode is for you. Don't miss out!

 

Highlights of the episode:

 

00:00:00 - Episode Introduction

00:00:33 - Start of the topic:

00:01:10 - Introduction of case study

00:04:25 - Parking Pad

00:06:05 - Subdivision Process

00:07:20 - Demo Homes

00:08:07 - Buying Right

00:09:03 - Real Property Evaluation

00:10:37 - Putting Billboard

00:12:19 - Delaying the re-finance

00:12:55 - 13 pads debt-free

00:13:28 - Appraised deal

00:15:08 - Treating Tenants Properly

 

Notable Quotes

"Just be persistent... Persistence is key"

"You don't need to gouge your tenants to make real money"

"You can do things right, treat people right, improve their lives"

 

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/

 

#BuyingRight

#AppraisedDeal

#DecentMoney

EP 130 | Case Study: How To Add $500k On 20 Pads In One Year

This week on The Mobile Home Park Lawyer Podcast, Ferd dives into a 20 pad home park that turned into a highly profitable investment in a very short amount of time. He uses this case study to emphasize how buying the right property is more important than the amount of volume of property you buy. If you’ve heard the expression less is more but never quite made sense of it — this episode will show you why, but most importantly, it will give you clear insights on the power of buying right.

 

Highlights of the episode:

00:00:00 - Episode Introduction

00:00:33 - Start of the topic: What's your measuring stick? 

00:02:40 - 20 Pads Home Park  

00:03:21 - Renovation

00:03:27 - Market Rent

00:04:14 - Playground Amenity and Driveway

00:04:34 - 40,000 all in renovations 

00:05:34 - Value Ad

00:06:07 - Easy Peasy Deal

00:06:43 - Lesson 

00:07:06 - Septic Sewer Issue

00:07:35 - Deal worth a million one

 

Notable Quotes

"Buy right don't denigrate that it's only a 20-pad park and you can make a decent amount of money"

"Some people out there would look down at me like "oh my gosh you only have 20 pads why would you buy a 20 pad park" this is why you buy it right."

 

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/

 

#BuyingRight

#20PadsHomePark

#DecentMoney

EP 129 | What You Need to Know About Private Utilities with Phillip Merrill

On this episode of The Mobile Home Park Lawyer Podcast, we have our special guest Phillip Merrill, owner of Merrill Water who handles all the water needs, not limited to Mobile Home Parks.

Phillip grew up in the water well drilling business working directly with his father. After college, he joined the family business and then branched out into operating and managing community water systems. He is known for his 22 years of experience in the drinking water and wastewater sector.

Phillip shares multiple wastewater systems applicable to mobile home parks, especially their Package Plants. We take a deep dive into the discussion of lagoons, septic, wells, each of their pros and cons as well as costs associated with each. If you are a mobile home park owner who has encountered challenges with your water system, this episode is for you!

 

Highlights of the episode: 

00:00:00 - Episode Introduction

00:00:30 - Introduction of guest

00:01:27 - Background of the Guest

00:03:57 - Waste Water System

00:04:40 - What is a Package Plants

00:10:00 - Cost of a Package Plants

00:11:23 - Lifespan: Steel Vs. Cement

00:11:23 - Cost of having package plants

00:15:20 - Risk from the government

00:17:04 - Anti-backsliding

00:18:48 - Pros and cons of Lagoon

00:23:12 - All About Septic

00:25:35 - Relevant of Soil in Septic

00:26:47 - Getting rid of leech fields

00:28:18 - Killers of lagoons: Sludge

00:31:22 - Seepage Test

00:32:58 - Sludge Survey

00:35:11 - All about Well

00:37:21 - Cost of having a Well

00:40:03 - All-in cost if the well fails

00:41:39 - Tips from Phillip Merrill

 

 

Notable Quotes

"The other hidden cost that I want to mention is on your refinance or your eventual sale you're going to get hit on the cap rate"

 

"It's not one of those ponds you know, you don't fish in it, you don't swim in it. Just stay away from the pond"

 

"The bubbler is it literally looks like a water fountain and it creates water up which is active so it creates more waves and ripples which is eventually essentially creates oxygen and allows more bugs and more rapidity to the process which then thereby requires a smaller surface area"

 

Connecting with the Guest

Website: https://merrillwater.com/ https://merrillwater.com/mobilehomeparkresources/

Linkedin: https://www.linkedin.com/in/phillip-merrill-747255b7

Email: info@merillwater.com

Call for INFO: 503-734-7400

 

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/

 

#MHPWaterSystem

#PackagedPlants

#MobileHomeParkInvesting

EP 128 | Is The MHP Star Rating Relevant with Ferd Niemann

Welcome back to The Mobile Home Park Lawyer Podcast. In this week’s episode, Ferd enlightens us about the relevance of the Mobile Home Park Star Rating System. Star ratings help identify and categorize Parks based on certain criteria. This system also works as a guide for MHP improvements.

 

Discover the one to five-star criteria and its overall relevance to mobile home park investing by tuning into this episode. As Ferd has, you’ll also want to get familiar.

 

Highlights of the episode:

 

00:00 - Episode Intro

01:26 - History of the Star Rating System

03:24 - One Star Rating Criteria

04:48 - Two-Star Rating Criteria

05:23 - Three-Star Rating Criteria

06:01 - Four Star Rating Criteria

08:00 - Five Star Rating Criteria

11:35 - Closing thoughts

 

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/

 

#StarRatings

#WoodallRatingSystem

#MobileHomeParks

#Investment

EP 127 | 25 Factors of a Bad Investment

Ferd shares several factors on how he determines a bad investment from a good one. Ferd points out 25 factors that won't necessarily individually break the deal, but will at least give you some reference points to think through prior to making your mobile home park investment. Tune in to find out what 25 factors you must know, before making your next mobile home park investment.

 

Highlights of the episode:

00:00 - Episode Introduction

00:38 - Start of the topic: Spotting a bad Investment

04:00 - Paying for the Upside

06:49 - Partner with No skin in the Game

07:09 - Zoning, Set-back, and Bad Seller Issues

09:15 - Bad Water Systems

10:23 - Potential Property Desk Job

11:03 - Trees can be a problem

11:55 - Drainage Issues

14:18 - Old Houses

14:48 - Vendor Availability

16:20 - Extro

 

Notable Quotes

11:06 Trees are nice for shade, they look nice, make a better neighborhood but trees can be a problem, they drop leaves which make a mess..."

 

Connecting with the Guest

 

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/

 

#BadInvestment

#SetBacks

#mobilehomeparkinvesting

EP 126 | Interview With MHP Owner Ryan Smith Evaluating Risk, Reward, and Opportunities

This week we are joined by Ryan Smith, a mobile home park owner —  founder of Elevation Capital Group.

Elevation is a respected leader in the alternative real estate investment arena and exclusively focuses on two very niched property types: manufactured housing communities and storage facilities. Through its affiliates, Elevation has acquired over $600 million worth of properties while holding interest in more than 175 assets across 30 states.

 

Ryan regularly shares lessons learned from the field on various podcasts and media outlets and in today’s episode, he joins us to discuss how to evaluate risk, collect rewards, and find opportunities in today’s market.

 

Highlights of the episode:

00:00 - Episode Intro
01:08 - Introduction of the guest
03:55 - Owning quality real estate
05:57 - Managing risks and avoiding being in the deep end
11:13 - Picking the battles
16:16 - Managing the risk
19:16 - Reaching the theoretical maximum of refinancing
22:06 - The current cap rate trends and predictions of the future
27:49 - Understanding the value of a dollar
32:58 - Closing thoughts 

 

Connecting with the Guest

Website: https://elevationcapitalgroup.com/

Linkedin: https://www.linkedin.com/in/ryansmithelevation/

 

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/

 

#Infills #FindingDeals #MHPLawyer #TheMHPLawyerPodcast #MHP #MobileHomeInvestment #MobileHomes

EP 125 | Mobile Home Park Owner From $5K to $300MM Portfolio

Welcome back to The Mobile Home Park Lawyer Podcast. This week we are joined by MHP Owner, Julio Jaramillo. Julio is an entrepreneur, business owner, RV/MHP owner/operator, and investor. Julio focuses on acquisitions and operations of mobile home parks in the midwest. 

Julio Jaramillo is the founder and managing member of Evergreen Communities.

In this episode, you will learn how to plan a deal, staging out on an infill, and how to pitch deals to your desired target.

 

Highlights of the episode:

 

[00:00:00] Episode Intro

[00:00:59] Introduction of the guest

[00:12:56] What the plans were to find a deal

[00:21:43] Staging out on an infill 

[00:27:57] Pitching a deal to rich people

[00:32:46] The passion and the know-how

[00:40:49] Your natural environment

[00:42:54] Closing thoughts 

 

Connecting with the Guest

Website: https://www.evergreencommunities.com

Linkedin: https://www.linkedin.com/in/julio-jaramillo-3a65337/

 

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/

 

#Infills #FindingDeals #MHPLawyer #TheMHPLawyerPodcast #MHP #MobileHomeInvestment #MobileHomes

EP 124 | Forty Things To Look For When Doing A Site Visit

This week on The Mobile Home Park Lawyer Podcast Ferd shows us the Do's and Don'ts when doing a site visit. Learn every detail that needs to be checked, look for, and consider before doing the investment. Join Ferd Niemann as he shares his strategy for a good Mobile Home Park Investment.

 

Highlights of the episode:

00:00 - Episode Introduction

00:40 - Start of the topic: Things to Look for in a Site Visit

01:34 - Purchase Price

02:36 - Condition of homes and vehicles

03:06 - Zoning

03:18 - Evaluation of Road Condition and type of Utilities

03:43 - Other Revenue Opportunity

03:49 - General assessment of the premises

04:05 - Layout of the Park

04:32 - Feel of the neighborhood

04:42 - Pride of Ownership

05:08 - Internet Providers

05:24 - Survey Amenities

06:10 - General Topography

07:00 - Taking Photos and Videos

 

Notable Quotes

"Generally look and see if there's the pride of homeownership... try to assess the parkland home and tenant on home counts and locations and whether they're single-wide or double-wide".

"When I go out on the property... always have a site map, always have a pen and paper ready and just take notes and then report back to team report back whoever's doing the budget, whoever's you know doing insurance. Everybody's doing CAPEX doing the ordering and go from there"

 

Connecting with the Guest

 

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/

 

#SiteVisit

#MobileHomeParkInvesting

#MobileHomeVisits

#MHP

#MobileHomeParkLawyer

#MHPInvesting

#MobileHomePark

EP 123 | Twenty Plus Post Closing Tasks

Welcome back to the Mobile Home Park Lawyer Podcast. In this episode, Ferd Niemann talks about the post-closing tasks after every property acquisition. Post-closing tasks are a critical part of the acquisition process to ensure that no aspects or details of the property acquisition are overlooked. Consequently, saving time and money.

 

Highlights of the episode:

00:00 - Episode Introduction

00:32 - Overview of the Post Closing Tasks

01:35 - Checklist of Post Closing Tasks

07:02 - Episode Closing

 

Notable Quotes

“Those things (post-closing tasks) are all pretty valuable to do right after closing -it’s hard to do it all first day but certainly in the weeks after closing, those 25-or-so items are pretty crucial” - 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/

 

#PropertyAcquisition

#DueDiligence

#RealEstate

#MHP

#MobileHomeParkInvesting