The Mobile Home Park Broker's Tips & Tricks To Investing

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Ed Bridgman, president of EOB Consulting. They discussed the services his team delivers to mobile home and RV community owners. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: This is a return visit to the podcast for Ed, who addressed several additional topics of interest for mobile home park and RV community owners and investors. Max and Ed started the conversation with the challenges related to monitoring (and getting paid for the electricity used by RV community guests. (Max, 00:59) RV destination owners are starting to understand the importance of metering guests' electricity consumption. But most don't have the infrastructure in place to do it effectively. (Ed, 1:21) Those owners are starting to understand the importance of individually charging guests for their electricity use. Ed used as an example a guest to his own state-of-the-art Homestead RV Community. The guest arrived in a 32-foot RV decked out with an extensive solar panel array and about 800 pounds of batteries, so Ed didn't expect this guest to use much, if any, community power. (Ed, 2:03) What Ed didn't expect was for the guest to boondock under tree cover. As a result, he wasn't able to recharge his solar batteries, and the guest ended up using $45 worth of community electricity in just a few days. (Ed, 3:35) As another example, Ed had several RVs arriving together over the Christmas holiday. Several had heated floors, and each consumed 125 to 150 kw of community electricity. In other cases, guests might have electric cars or golf carts being recharged through the park electrical, or have freezers, space heaters, air conditioners or other big appliances tapping in. The point is, park owners must charge individually for consumption or go broke. (Ed, 3:47) Besides encouraging RV park owners to monitor electrical use, Ed also consults on helping new owners of parks turn a profit on a previously unprofitable property. (Max, 5:09) Ed gets called by both sellers and buyers. He helps sellers appraise their property for sale value, and will walk a property with the prospective buyer to suggest actions to increase park value and satisfy lender concerns. When investors are building parks, he'll consult during the layout design stage to find potential problems and opportunities. (Ed, 5:46) Ed's review can be so comprehensive as to include interviewing city officials and local businesses to see about the regulatory and employment environment. For instance, he might call Walmart to see if rumors are true about the company building a new distribution center just miles from the park. He also researches local affordable housing demand and the market competition, and looks for other advantages or obstacles to profitability. (Ed, 7:01) With all that he learns, he creates a CAD site layout for new builds or existing structures, emphasizing strategies that might be used to maximize park value. With that, they arrive at a preliminary ten-year budget that goes into a spreadsheet to give a good idea of expected capital expenditures and when the company can expect to earn a return on initial investment. (Ed, 8:02) For this consulting service, Ed charges a flat rate of $20,000 plus lodging and travel expenses. (Ed, 9:35) Through this service, Ed and his team design and maximize the profitability of an average of about three client properties a month. And through his own Homestead RV Community, they have over 240 guest reviews, for a Google review rating of 4.9.. (Ed, 10:44) The company website, at EOB_Consulting.com, includes a section called Step by Step. This is a free and informative tutorial that lists actions you should take in developing your own RV park, whether from new construction or purchase. It includes a thorough explanation of the five different destination RV communities. (Ed, 12:19) Ed can be reached either through his website, EOB.Consulting.com, or by calling him at (512) 785-1379. You can also learn more about Ed's own property, Homestead RV Community, billed as "the most technologically advanced RV destination in the world." Just visit HomeRVC.com and take a virtual tour. (Ed, 13:30) When thinking about buying or selling an RV community, it pays to start with a consultation with Ed Bridgman of EOB Consulting. When the for-sale sign goes up on your mobile home park or RV community, trust The Mobile Home Park Broker and our innovative Community Price Maximizer platform to optimize your park value and sale price. Drop Max Baker a line at [email protected] or give him a call at (678) 932-0200. Power Quotes in This Episode: "...we come ou

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Ed Bridgman, president of EOB Consulting and a go-to expert in the field of RV communities. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: Max's podcast guest, Ed Bridgman, is an industry expert who Max and his wife, Kathryn, met at SECO 2022. Ed makes feasibility studies and works with client who want to build RV communities. (Max, 0:22) Ed has a degree in electrical engineering and an MBA. In working at Motorola, he was one of five co-authors of Six Sigma, which developed processes for businesses to utilize to gain greater efficiency and generate less waste while pleasing customers and turning a profit. That won his and his team the first Malcolm Baldridge Award, which was granted by President Ronald Reagan. Ed spent the next thirty years as a consultant. (Ed, 1:52) He owned a tiny home community in 2010 and learned more about Gulf Coast tourism when he read about BP Oil starting to invest $24 billion to support tourism, in part to pay for an oil spill. This is how he began to research the RV community industry and the opportunities to be found. He discovered, for instance, that 247,300 new RVs were sold in 2010, but by 2022, that annual figure had jumped to 614,100. (Ed, 3:28) However, the number of places for putting RVs during the season and off-season were not keeping up with the RV manufacturing numbers and customer demand. There were about six or seven more new RVs being manufactured than hosting and storage locations. (Ed, 5:00) So many people with million-dollar RVs are restricted by zoning codes from keeping them in their driveway or on the street in front of their homes. So where do they store their beast? (Max, 5:59) For about the last decade, EOB Consulting has been in the business of designing and building RV and boat storage facilities. (Ed, 6:58) There are five different kinds of RV destinations, each serving a very different need. First, there are the short-term parking places where RV owners can pull in to take a nap or break from driving while getting from one destination to another. The second destination type is a campground. (Ed, 7:49) The campground has few, if any, amenities because it's located in close proximity to a recreational destination such as Epcot Center, Disney World, Mt. Rushmore, etc. The entertainment comes from that venue. RVers will stay at such campground typically for several days or a couple of weeks at most. (Ed, 10:00) The third type of RV destination is the resort. That's where RVers might stay for a long weekend or take a vacation. The resort must provide entertainment options since this sort of destination isn't in close proximity to larger entertainment districts, and the RVers don't expect to go elsewhere. So resorts have pools, fitness centers, party rooms and other similar amenities for vacationers. (Ed, 11:21) The fourth type of destination is for RVers who wish to live in their vehicles for extended periods, such as snowbirds who come from cold environments to stay in the Sun Belt all winter. These destinations are communities, where RVers get to know their neighbors and, if they're still working, continue to work remotely from wifi-enabled RVs that can be used as offices. (Ed, 12:44) The fifth type of RV destination is a hybrid, in which RVers might more permanently settle in to a campground or resort type of destination. (Ed, 15:00) The challenge RV destination developers have is in fully understanding the different needs associated with the different types of destinations. RVers who wish to live long-term in a community will need more of a neighborhood feel than those in a resort or campground environment, who must be provided different levels of entertainment options. (Ed, 16:28) Manufacturers are becoming more diversified now, from creating RVs with slideouts for those who'll park their vehicles and stay longer, to simple "tube" vehicles for RVers who will "boondock" with their vehicle, which is parking it somewhere primitive without even electrical or water/sewer hookups and roughing it. (Ed, 18:16) Another industry trend regards homeowners who used to have second brick-and-mortar homes for seasonal use, but the high cost of homes has made this less of an option.Now that second home is an RV. Those people might buy a luxury RV and permanently install it in warmer locations to serve as their winter home. (Ed, 21:10) One big challenge in designing RV destinations is accessing city water and sewer. So an estimated 90 percent of Ed's storage locations include septic systems. (Ed, 23:02) Today, Ed's designing climate-controlled boat and RV facili

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed park owner Steve Case about his industry experience and involvement with SECO. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: - Steve Case has conducted numerous mobile home park transactions, and was a co-founder of the innovative and highly influential Mobile Home University series of educational programs. (Max, 1:10) - Steve started investing in mobile home parks while he was still an active-duty Air Force pilot planning his eventual retirement. In 1999 he became interested in the industry and started by networking with, and picking the brains of, legendary industry mentors Lonnie Scruggs and Lonnie Too. Steve bought his first park in 2000, after reading and studying Lonnie's book on the topic, and later ran a few deals with Lonnie. (Steve, 1:54) - Along with partner Corey Donaldson, Steve started Mobile Home Park University in 2004 as a prime industry educational resource. By the time he retired from the Air Force in 2006, Steve owned six or seven mobile home parks and about as many self-storage facilities, all of them in the Southeast. Through Mobile Home Park University, he brought in such industry heavy hitters as Lonnie, Dike Spottiford, Dave Reynolds and Frank Rolf to speak. They also ran boot camps for more in-depth industry training. (Dave, 2:50) - By 2008, Steve's commitments to a growing family led to him taking a backseat in the educational program. Eventually, he and Corey sold mobilehomeuniversity.com to Frank Rolf and Dave Reynolds. (Steve, 3:50) - In potentially running deals with their students, Frank and Dave run the program a little differently than Steve and his partner had, but it's just as informative and innovative. (Steve, 4:27) - One of the first things Max did after becoming a mobile home park broker was to take Frank and Dave's home study course. He found it to be very valuable. (Max, 5:22) - More recently, Steve was also a co-founder of the Southeast Community Owners (SECO), a very influential industry association and annual trade show to this day. The specific audience for SECO includes mom-and-pop mobile home park owners, rather than big corporate entities. SECO is a non-profit, and virtually every penny is raises goes to help support U.S. military veterans who are park residents in financial need. (Max, 6:16) - Steve had met Spencer Rohn, a fellow board member, when asked to join the board of the Georgia Manufactured Housing Association. He and Spencer discussed the need for establishing an organization that would address the education and networking needs of those who owned parks, as well as those who were considering buying or selling parks, or were otherwise interested in joining or growing their place in the industry. They founded SECO in around 2008, initially with as few as eight or ten participants, and it's steadily grown since as an important annual event. (Steve, 7:11) - Today, the name is misleading since the organization isn't exclusive to community owners in the Southeast U.S. anymore. They come from all over the country. In addition to park owners, attendees have included manufacturers, brokers, vendors and others even peripherally connected to the industry. While Steve went largely inactive by around 2018, Spencer asked him to take on the educational element of the program this year. In response, Steve put together a program of twelve educational sessions with park operators. (Steve, 8:03) - Speakers involved with this year's program, which will take place September 10-13 in Atlanta, include Ben Braband, Cole Phillips and Jefferson Lilly, among others. Whether you're a rookie or have been in the industry for years, there's something for all. One of the popular topics, for instance, is the importance of due diligence and how to do it right. (Steve, 9:08) - There will also be a series of round-tables which might include 700 to 800 participants this year. There will be two industry-expert hosts at each table, and participants can ask questions and get answers directly from the pros. (Steve, 10:04) - In addition to being a great networking and granular educational resource, SECO performs a valuable service to military vets in need. That's a no-brainers since so many of the people in the industry and involved with SECO are themselves military vets. That includes Max (U.S. Marines), Steve (U.S. Air Force), Dave Reynolds (Army), and Spencer Rohn (Navy), among others. (Max, 13:06) - A recent example of where SECO donations went is a vet in need of air conditioning in his home who wa helped through the referral of park owner David Roden. This year, since the even

In this episode of The MHP Broker's Tips and Tricks Closing Cocktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed two top company brokers, Paul Schaaf and Ryan Ramseur, who worked together to close a 73-pad mobile home park in South Carolina. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: Max spoke with brokers Paul Schaaf and Ryan Ramseur on a large mobile home park in South Carolina, a community sale that the two teamed up on. (Max, 0:22) It's a very desirable park, with a high occupancy rate. Mostly well-maintained park-owned homes with stable, long-term tenants at a good location right off of I-95 in SC. Rents were well under market rates, which would be very appealing to buyers. The low expense ratio of close to 30% was highly desirable, too. (Paul, 1:28) The ratio was so low because the tenants were responsible and took good care of the homes. And when irresponsible tenants left, the park owners were able to quickly replace them with more reliable tenants, keeping expenses low. (Paul, 2:32) One challenge to the sale was that the property was individually parceled out. This created headaches with obtaining titles and surveys, but no contract deadlines were missed. (Paul, 3:34) The issue of transfer taxes, how much they are and who pays them, can be a challenge in South Carolina. It reminded Max of a Florida transaction consisting of individually parceled homes in which they found during the close that $70,000 was owed in transfer taxes. (Max,4:02) The transfer taxes weren't particularly high on this deal, so there were no unpleasant surprises. The cost was dealt with upfront and the buyer was okay with assuming the cost on account of the significant upside in the investment. (Paul, 4:30 and 4:48) The financing was hassle-free in that the buyer had already found a lender and acquired pre-approval, and Paul and Ryan were able to close the deal in 60 days. The biggest hurdle was in making sure they had titles to all property, and minor confusion on transfer taxes owed. (Paul, 6:34) Besides some minor challenges in getting all books and records together from the seller, the deal went pretty easy. It helped that there was a reliable buyer who'd already obtained financing, and they had a timely closing. (Ryan, 6:57) Want to buy or sell your own RV park or mobile home community? Trust The Mobile Home Park Broker and its superhero brokers such as Paul Schaaf and Ryan Ramseur to get you the best outcome with the fewest hassles. Just drop Max Baker a line at [email protected] or give him a call at (678) 932-0200. Power Quotes in This Episode: "Then the rents were significantly below market, so the buyer was really excited about all the meat on the bone." (Paul, 1:28) "We just had the right pieces to the puzzle to really understand the deal from the front end of it and there were no big surprises at the end of it." (Paul, 4:30) "So that's one thing that we've started doing here at our firm is negotiating the transfer taxes upfront when we're at the contract stage of the deal, because we almost lost that Florida deal because of the $70,000 transfer tax that we had to deal with. But now, in this stage in the game, we try to get that upfront, negotiated. Who's paying and how much? Because as we always say here, guys, surprises kill deals, problems don't. Right?" (Max, 5:19) "With this particular owner, they had invested a lot of their time and money in the park. We understand that and we're just trying to make sure we can tell the best story about it and get a return on all that sweat equity. We're always trying to look out for all of that investment each owner has put into their park and that's what we're looking to do on future deals, to make sure every seller is taken care of. So that's really it." (Paul, 7:28)

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed top broker Eric Wanck about his success with three recent transactions, including a five-park Tennessee deal. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: - Leading MHP broker Eric Wanck was interviewed by Max on Eric's success in closing three recent across the country. Let's begin with the five-park deal in TN. (Max, 1:16) - This involved one owner of a total of 88 pads in five TN locations. The portfolio has mostly park-owned homes (POH) in place, which brings its own set of challenges. The seller's motivation was a planned retirement. The eventual buyer was someone Eric had worked with in the past, though never been able to bring to contract. (Eric, 1:40) - One week from the anticipated close date, the buyer contacted Eric to say that the bank had changed the financing terms, and they couldn't close. (Eric, 2:16) - Eric had seen that sort of thing happen in the past, but never so near a close date. He went over the options and suggested that the buyer drop the price slightly to make the bank happy and the deal work. It took an additional two or three weeks to close, but the seller was still happy with the closing price and transaction. (Eric, 2:48) - To Max, this illustrated an ongoing challenge with banks, which he blames on swiftly rising interest rates. One successful strategy that's worked for him is to attempt to steer deals to credit unions, which are more motivated to work with buyers and sellers. (Max, 4:05) - The Byron Mobile Home Park was the second recent win for broker Eric Wanck. The challenge here was unrealistic price expectations on the part of the seller. It was the second time they tried to bring this park to market, but it had only about a 60%-65% occupancy rate. Eric suggested that they first work to add value by increasing the occupancy before listing Byron. The seller took the park off market for about a year and a half, and increased the occupancy level to a very impressive 85%, which made it much easier to get their desired price. (Eric, 4:40) - The fairly large park had more than 70 pads, which increased its desirability. It was a rare case in which the seller brought the prospective buyer to the attention of Eric, rather than the other way around. They closed the deal smoothly at a strong price, and everyone was happy. (Eric, 5:18) - The third recent deal, the Fitzgerald park in South Georgia, is an example of Eric building such great relationships with buyers that they later turn to him as sellers. This "second-time deal" came in a part of the country where lot rents are still incredibly cheap and park deals are particularly valuable. This park had good books and records and the price was reasonable. (Eric, 6:47) - Lot rents even in these lower-cost regions are rising, due to inflation, and that makes the parks more attractive to investors than ever. (Max, 7:21) - Eric's advice to investors is to pay a fair price and don't worry about the underwriting or financing. He can help buyers obtain financing if problems arise. (Eric, 9:06) Looking to buy or sell an RV park or mobile home community? Max's team can help you through the process. Just drop Max Baker a line at [email protected] or give him a call at (678) 932-0200. Or email Eric at [email protected]. Power Quotes in This Episode: (Regarding the five-park TN deal.) "We were one week away from closing. And the buyer called me, saying, 'Look, the bank's changed their finance terms. It's completely thrown off our numbers, and we can't close.'" (Eric, 2:16) "...we've had it happen where banks are changing terms midstream, and it's very frustrating. But to be so close to the finish line, and then almost have a little bait and switch, you know, had us kind of going back to the drawing board." (Eric, 2:48) "One thing we've been able to source here is debt through credit unions." (Max, 4:05) (Regarding the Byron deal) "…at the end of the day, it's about getting it done, and everybody's happy, and we put money in their pocket." (Eric, 5:18) (Regarding the Fitzgerald deal) "I love deals that come around to me multiple times…it's about building relationships." (Eric, 6:05) "Demand for affordable housing continues to increase." (Max, 7:21) "I would encourage (investors) not to try to price in a price hike on your rate in your offers. You know, because I've seen some buyers doing this whether adding a buffer so, hey, if it goes up 50 bps on me, I still have room." (Eric, 8:18) "If financing ends up being a snag, then we can always revisit that and I can have a conversation with the seller. But I see a lot of deals not

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Aaron ("Chacha") Chachamovits, president of a website design and creation company serving the mobile home park industry known as Rodesi. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: Today's interview is with Aaron Chachamovits, also known affectionately as Chacha. He owns a website development company called Rodesi. (Max, 0:22) In 2017, Aaron started working for Snickfish, a title management company serving the mobile home park community. He was handling marketing, sales, web development, advertising and other areas, when he decided to go on his own. His company would provide web development and design services for the mobile home park industry. He named it Rodesi, a name that combined the name of his son, Roman, and the word "design," which is Aaron's career passion. Through Rodesi, Aaron began to pitch smaller park owners who want a web presence as impressive as Sun Communities and RHP. (Aaron, 1:19) Rodesi provides park owners with a website that's highly functional and user-friendly for tenants and park owners alike, able to handle billing, rent payments, and other areas. Basically, the intent is to provide clients both a marketing tool and an automated streamlined online operation for dual audiences. (Aaron, 4:32) His company's website functionality includes listings platforms, enabling park owners to list and prospective tenants to easily find and apply for pads or mobile homes for sale or rent. There are also forms on client websites that make it easier for residents and prospects to work with park employees in sales, back office and other areas. (Aaron, 4:57) Rodesi has also integrated Rent Manager functionality and resident application forms into newly created sites. (Aaron, 6:25) Rodesi-designed websites also give tenants multiple ways of paying their rent online, including Zego and CashPay. This is both more convenient for residents and it removes one level of labor for park owners. (Aaron, 6:40) Rodesi will soon be fully automating the listing process and offering clients turnkey hosting, maintenance and listings creation of client websites through ParkWeb. Yet another key service offered park owners through Rodesi is branding, including logo development and a branding identity package. (Aaron, 7:02) Rodesi can build separate websites for park communities, and to attract investors. It's important to segment these two audiences and not try to communicate with both on the same website. (Aaron, 8:02) In Aaron's two years in business he's learned the importance of staying structured. In creating and following and documenting processes and systems to achieve success and avoid getting lost in the high day to day workload. (Aaron, 9:34) Max remembers a quote from real estate guru Ron LeGrand: "The less I do, the more money I make." This illustrates the importance of automating tasks and relying on processes and systems to break the workday down and simplify it. (Max, 10:26) Aaron also learned the importance of planning by mapping out future activity at least by the quarter if not over the longer term. (Aaron, 11:41) Aaron can be contacted a number of ways. He likes taking calls at (888) 222-4451. But you can also reach him at Rodesi.co or [email protected] if you're a park owner who'd like to explore the possibility of Aaron and his company creating or improving your digital presence. You can also reach out to Max if you'd like him to put you in touch with Aaron and his company. Just drop Max a line at [email protected] or give him a call at 678-932-0200. Power Quotes in This Episode: (On his inspiration for starting Rodesi) "Hey, nobody is servicing mobile home park owners and RV park owners the way they need. Why can't we provide web design and web development for these guys like Sun Communities and RHP?" (Aaron, 1:19) "...it's more than just a website. Rodesi focuses on mobile home park owners and RV park owners' web presence, period." (Aaron, 4:32) "So if someone goes to your community pages, right, they'll see all the available listings or whether it be RV pads, open locks, or just mobile homes for sale, or rent. Those are all listed in each of the community pages, as well as the general search page where people can filter through those listings." (Aaron, 4:57) "...we make it really simple and easy for current residents to know how to pay their rent, whether it's through Zego, CashPay, or I don't know, if you'd have them go deposit it in your bank, we simplify that and make it really simple for them. So, they stop asking your managers the same questions over and over." (Aaron, 6:40) "I w

In this episode of The MHP Broker's Tips and Tricks Closing Cocktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed rockstar broker Paul Schaaf about his experience selling Muldraugh, a mobile home park in Kentucky. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: Leading company broker Paul Schaaf was interviewed by Max on his recent transaction selling Muldraugh MHP in Kentucky. (Max, 0:22) This was a park that had been owned and operated by the sellers for around 30 years. The couple wanted to retire, and asked Paul to help them exit the property properly. Paul helped them prepare the park for an optimal transaction by getting their books and financial records in order and boosting rents to market value to make the revenue more appealing to investors. As a result of all of this upfront attention and diligence, they got a few offers almost immediately. They quickly found a buyer and closed in the 28th day of a 30-day close. (Paul, 1:25) The seller extended some lending to expedite the deal, but under very good terms for both parties. The community consisted of mostly park-owned homes, in addition to a eight-plex dwelling. In all, it was a very attractive package of housing inventory, with rents that supported the shell value of the homes. (Paul, 2:49) Paul helped establish the value of the homes and the eight-plex. The approximately 37 homes had their value set individually, for about $34,000 apiece. This was a very good price for POHs in this market. Paul also showcased the maintenance and upkeep performed, and the low turnover rate on each home. They were further able to show that when a unit did become available, it was filled in as little as a week or two--a very positive finding. (Paul, 3:32) The valuation of the eight-plex unit was set by taking into consideration all of the rents and the expenses on it. (Paul, 4:34) The buyers were experienced investors, having owned parks in several other states. The area appealed to them due to the thriving local economy, with jobs associated with a new Ford billion-dollar auto battery plant and a $1.7 billion core plate steel mill. These and other employers made it a strong area for economic development, with workers who'd need abundant affordable housing. (Paul, 4:47) When it comes time to sell your mobile home community in Kentucky or elsewhere, let The Mobile Home Park Broker go to work for you, with our innovative Community Price Maximizer platform to optimize your park value. Just drop Max Baker a line at [email protected] or give him a call at (678) 932-0200. Work for Max, or ask for Paul. Power Quotes in This Episode: "It was just a great relationship established between us and the owner, and they trusted us to get the job done and we were very successful. We actually rolled this out to the market and immediately had a few offers." (Paul, 1:25) "So, it was a big home value. But it helped having all the titles together, you know, (and) good pictures of each unit." (Paul, 3:32) "We're here to make sure everyone is satisfied at the end of the day, and looking forward to more opportunities coming up here in the rest of the year." (Paul, 5:48)

In this episode of The MHP Broker's Tips and Tricks Closing Cocktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed top broker Ryan Ramseur about two of his recent transaction successes. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: - Max spoke with broker Ryan Ramseur on his recent transaction wins in Orange, Texas and in Fayetteville, North Carolina. (Max, 0:22) - White Oak Mobile Home Park, in Orange, Texas wis a very stable, 25-pad park that had been under "mom and pop" ownership. It's located about halfway between Beaumont, TX and Lake Charles, Louisiana, on the border of the two states. The community boasts large lots, city water and sewer, and all park-owned homes. (Ryan, 1:18) - It was a very well-kept park with stable, long-term tenants who also showed pride in the community. It was obvious that the seller had invested both time and capital in the park, so Ryan was able to quickly draw buyer interest. It took just ten days on market before he had an executed contract from a local investor with a portfolio of parks in the general area. (Ryan, 1:47) - The winning bid was an all-cash offer. (Ryan, 2:47) - The second recent deal was Evergreen MHP, in the fast-growing Fayetteville, North Carolina metro. Because of its booming economy, centered on Fort Bragg, Fayetteville is one of the five fastest growing cities in the nation. This created a lot of interest in Evergreen. The park was also popular to investors because the current owners had invested significantly to turn it around. They had upgraded most of the infrastructure, including installing electric water meters on every site, new landscaping and the repaving of all roads. They'd also turned all park-owned homes into rent-to-own (RTO) through 21st Mortgage Corporation. (Ryan, 3:34) - The sellers were able to show the park to be a turnkey operation, with direct-billed water and sewer, and very low operating expenses in a major and still-growing metro. Ryuan was able to get as many as seven or eight serious offers in just a week or two before finding a buyer and closing relatively quickly. (Ryan, 4:33) - As for industry market trends in general, buyers and sellers seem to be a little leery of the economy, but the market is still active. (Ryan, 6:25) Want to buy or sell your RV park or mobile home community in Texas, North Carolina or just about anywhere in the nation? Just drop Max Baker a line at [email protected] or give him or Ryan a call at (678) 932-0200. Power Quotes in This Episode: "Given the layout of the park (White Oak) and the income there, it was pretty much a no-brainer for (buyers)." (Ryan, 1:47) "If you're looking to do a lease-to-own program, ("21st Mortgage has) some great incentives for sellers, as well." (Ryan, 4:33) "Buyers, you know, I think are still a little sceptical of what's going on with interest rates and where the market's heading, understandably, and sellers are still kind of grappling with the way that things are currently with the market." (Ryan, 5:43) "If sellers have realistic expectations about where the market is today, part of what we do is to be very transparent upfront. And our job is to show them where the market is, and where we see deals trading." (Ryan, 5:43)

In this episode of The MHP Broker's Tips and Tricks Closing Cocktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed top broker Eric Wanck about two of his recent transaction successes. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: - Top-performing broker Eric Wanck was interviewed by Max on Eric's success closing two recent deals, one in South Atlanta and the other near Lake Oconee in central Georgia. (Max, 0:22) - Eric had made contact with the then-owner of Fernwood Mobile Home Park in South Atlanta five or six years ago, but nothing happened at that time. More recently, the property came up as an estate sale by inheritors who wanted to unload it. The park was a serious challenge in that it had more than 100 pads but only about 19 tenants in a challenging location, making the transaction "a big heavy lift," in Eric's words. Nonetheless, he had a local buyer in mind, and made a deal come together in a relatively smooth transaction. (Eric, 1:37) - A potential deal-killer was the fact that the park had an on-site sewage treatment plant (which can be considered an issue/obstacle by some prospective buyers). (Max, 2:33) - However, the buyer conducted due diligence on the condition of the plant and found it to by well maintained and in good working order, and not an obstacle to the transaction. (Eric, 2:36) - Yet another challenge was that Eric was working against another buyer not represented by The MHP Broker, but Eric's buyer offered more and closed the deal. (Max, 2:57) - Eric's second deal, Eagle View, on exclusive Lake Oconee, was far from a typical mobile home park. - The very desirable park consists of 25 luxury double-wide tenant-owned mobile homes, each on half an acre of land right on the shore of this exclusive lake. (Eric, 4:06) - Eric had several interested backup buyers lined up, but an investor from California jumped in with a bid over the property's list price. He was great to work with, and the appraisal and financing went off without a hitch. The buyer was highly motivated to leave California and eager to resettle in the more conservative and landlord-friendly southeast. (Eric, 4:42) - If you'd like to work with Eric on a deal, call him at The MHP Broker or email him at [email protected]. Want to buy or sell an RV park or mobile home community? Just drop Max Baker a line at [email protected] or give him a call at (678) 932-0200. Or email Eric at [email protected]. Power Quotes in This Episode: (Regarding the Fernwood park in South Atlanta.) "So this was over 100 pads, and there's currently about 19 tenants in the park. So this was a big heavy lift, but we knew the buyer for this, they were local, this is their bread and butter." (Eric, 1:37) "...all the park owners out there that are listening to this, just know that we do come across sewage treatment plants and they do sell. We do a lot of upfront due diligence on them…" (Max, 2:57) (Regarding Eagle View) "…they put double-wides, it was all double-wides. Twenty-five homes and they're sitting on nice half-acre parcels. And I joke with the buyer on this because I said 'hey, if you didn't buy it, I was gonna buy it.' It's just that unique of a deal and as Max said, 'if you can get real estate on Lake Oconee it's worth buying.'" (Eric, 4:06) "...everybody's moving to the South because they are landlord-friendly states, one of the last few states in the nation, before they go out dodo-bird style." (Max, 5:12) "The double-wide dream neighborhood community. I would call it double-wide dreams because you sit there and you're double-wide, looking out at the lake, and just enjoying all the cruisers with a cold cruiser in your hand, y'all." (Max, 5:34)

In this Closing Cocktails episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed rock star broker Eric Wanck regarding the ins and outs of his recent 4-park Kentucky sale. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: This interview is with The MHP Broker's Eric Wanck, a superstar mobile home park and RV community broker who recently sold a 4-park package in Kentucky. (Max, 1:31) There were a lot of park-owned homes (POH) in this portfolio, which can sometimes scare off investors. But there was a stable tenant base and very good cash flow, which increased interest. The rent rolls were impressive. (Eric, 1:46) The overall global occupancy was in the high 80 percents, and low 90s by the time the sale closed. Those numbers are good with the pad count at nearly 100 total. (Eric, 3:09) The park had a great local management situation in which the third party handled everything from rent collection and deposits to daily maintenance and park upkeep. This made for a very passive, turnkey operation for the current owner as well as for the new owner if they want to continue the relationship. (Eric, 3:30) The global expense ratio was around 10 or 11 percent, which is pretty normal. (Eric, 4:30) The park owner was fortunate to be able to find a good onsite manager, because most management companies don't want to be involved with mobile home parks. (Max, 4:40) The fact that there was city water and sewer (with some septic) and direct billed also increased buyer interest. (Eric, 5:47) The buyer was a local investor who was very familiar with the Kentucky real estate market and already owned some single-family units in the area. (Eric, 6:06) There was no financing contingency in that the buyer had already secured bank financing. That removed one serious hurdle to all such deals. (Eric, 6:25) Eric didn't look forward to the bank appraisal since the high number of park-owned homes can sometimes make lenders hesitant. While the initial appraisal came in a little low, Eric was able to plead his case and successfully boost the numbers. (Eric, 6:50) The portfolio was the third deal this year in which Eric had to get the appraisers to "move the needle" by further educating them on rent rolls or other park advantages that justify a higher appraisal. (Eric, 7:40) Reach out to Max Baker if you'd like him to learn how we can help you get the maximum price for your park. Just drop him a line at [email protected] or call The Mobile Home Park Broker at 678-932-0200. Power Quotes in This Episode: "…strong rent rolls make for easy closings." (Eric, 2:45) "Now there was a great local manager that the seller put in place. Not only did they handle the management portion, collecting rents, deposits, knocking on people's doors for rent, but they also handled all the maintenance. Kind of the dream setup for an owner." (Eric, 3:30) "This was somebody that was familiar with the Kentucky area and just having that familiarity of where this was located helped a lot." (Eric, 6:06) "Kind of a dream scenario on the broker side. We didn't have to worry about a financing contingency, even though it did go through a bank. So, it just shows you we had some financial strength from this buyer." (Eric, 6:25) "Never think that the deal is done or dead." (Eric, 7:40) "We're able to move the needle a lot of times for these appraisals that come in low." (Max, 8:32) "You know, these are very complicated transactions at the end of the day, a lot of variables, but we have the track record, and we know how to get them from A to B." (Eric, 9:12)

In this episode of The MHP Broker's Tips and Tricks Closing Cocktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed rockstar company broker Paul Schaaf, who discussed details of his recent sale of Sunrise Village, a mobile home park in Texas. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: Max spoke with broker Paul Schaaf about his primary challenge and ultimate victory in selling this Texas mobile home park. (Max, 0:58) The park owners were, themselves, licensed real estate agents who nonetheless approached Paul about selling their park. (Paul, 1:21) They could have sold their property on their own, but they recognized that Paul and The MHP Broker had more specialized knowledge and experience in this niche of the industry and could get the job done quicker and easier and at a better financial return. They were right. After multiple offers, Paul found a prospective buyer after having the park on the market for just a week or so. From there, they closed in around 45 days, with a buyer who had financing. (Paul, 1:43) Paul credited having a great buyer who knew the industry and was highly motivated to get the job done. But even at that, there was one potentially high-risk hitch during due diligence. (Paul, 2:29) There was a phase one environmental discovery that the property had long ago been used as a service station or tire shop and that at that time it had held a long-gone gas tank. The prospective buyer wanted assurance that there would be no costly need for soil remediation once they became the owner, (Paul, 2:57) It cost a little money upfront, but the soil was tested and quickly found to be clean and problem-free. (Paul, 3:28) The buyer obviously felt it was worth proceeding with the transaction. The park's in a prime location, adjacent to a Walmart Supercenter and a hotel, and with good road frontage in a growing area. The park was becoming hybrid, with some RVs moving into unoccupied lots. The occupancy was just around 75 percent, giving the buyer plenty of opportunity to increase revenue by infilling. The utilities were provided by the city, with direct billing to residents--making this part of ownership turnkey. The park also had an onsite manager who was willing to stay on. And the seller was motivated to close and to move on with other investments that interested them more. So everyone was happy and highly motivated to close. (Paul, 4:28) As far as the financing went, the buyer brought significant cash and they were able to get approval in a week or so from a lender they'd worked with on previous commercial deals. The only thing that slowed the sale at all was that phase one discovery, which proved to be just a minor hitch. (Paul, 5:37) The lesson, from Paul's perspective, is that sellers must be as organized as possible, and then find well-qualified and motivated buyers. That involves having a broker who knows the business and can help get them over whatever unexpected "speed bumps" might be found along the way. (Paul, 6:16) Want to buy or sell your own mobile home park or RV community? Trust The Mobile Home Park Broker and its superhero brokers to get you the best outcome with the fewest hassles. Just drop Max Baker a line at [email protected] or give him a call at (678) 932-0200. Power Quotes in This Episode: (On the client trusting Paul and The MHP Broker to represent him rather than handling the sale himself despite being a licensed real estate agent) "…It saved him stress. And we also got him more money than he probably could have done on his own." (Paul, 1:43) (On the soil testing) "…Everything checked out, it was quick, the dirt was solid." (Paul, 3:28) (Such hitches are) "…not common, but they do happen from time to time and as a brokerage firm we've been through enough that we know how to navigate them…successfully…" (Max, 3:42)

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed three representatives from Women Advancing in Manufactured Housing, or WAMH. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: - This interview is with Justine Natalie, Maria Horton and Max's wife, Kathryn Baker. All three women are involved with a young non-profit organization, Women Advancing in Manufactured Housing (WAMH). (Max, 00:22) - The idea of WAMH originated with a group of women who were all members of Southeast Community Owners (SECO) and started a chat line to network and converse about their experiences, needs and opportunities. They put a panel discussion together for a SECO meeting and decided to expand their concept into becoming this new organization. (Justine, 1:41) - The purpose of the group is to help women in the industry network, to recognize their achievements and offer education and support, but the over-arching goal is really to help everyone in the industry regardless of gender. The group started by offering webinars and Zoom meetings featuring successful women in the industry who could inspire other women. (Maria, 2:57) - The group initially started connecting with members and running contests through LinkedIn. (Maria, 4:06) - Justine owns an industry consulting group called Dynamic MH Solutions. She works with manufactured home community owners in multiple facets of their operations. She and partner Mike Schaeffler started the business in 2021. (Justine, 5:27) - Maria has worked for Newport Pacific, a property management company, for the last 18 years and worked for another company in the same line of business for three years before that. She also has her brokers license and sells manufactured homes, and is on several industry groups locally and statewide in California. (Maria, 6:24) - Kathryn handles the day-to-day operations and manages team members at Mobile Home Park Broker, the company she co-owns with her husband, Max. (kathryn, 9:01) - One of the pursuits the group is working on now is WAHM Workwear for Success, an initiative which is centered around the clothing for women and men in the industry.This includes proper attire both for those who are working in the office or with others, such as salespeople, and for park workers who might have to climb under mobile homes or otherwise work outdoors. (Justine, 11:10) - Another initiative by WAHM is an educational excellence program held in partnership with the Manufactured Housing Educational Institute. The winner of this scholarship gets to take for free any one of 39 courses offered by MHEI on all aspects of succeeding in the manufactured homes industry. (Justine, 14:09) - Those interested in joining the group or getting further involved can go to WAHM's new website at womenadvancingmanufacturedhousing.com. You can also join the LinkedIn WAHM group. The group also has corporate support at three sponsorship levels: The $250 sponsors are called Single Wide Supporters. (Justine, 15:01) - In ascending order, the group also has Double Wide ($500) and Triple Wide ($1,000 and more) supporters. (Justine, 16:41) - Those interested in joining or learning more about WAHM can also call Maria directly at (949) 500-4794. (Maria, 18:06) - Or call Justine at (303) 619-7948. (Justine, 18:14) - In addition to co-chairs Maria and Justine, other members of the WAHM executive committee are Deputy-Chair Sherrie Clevenger, Secretary Kim Schultz-Rainford and Treasurer Maryun Barberan. (Justine, 20:06) - In general, WAHM wants to uplift the reputation of mobile home parks as being a high quality lifestyle totally divorced from the old image of trailer parks. (Maria, 21:22) - The women in the group have followed many avenues of employment in the industry from park operators to sales and leasing agents, and others. (Justine, 23:36) - Key sponsors so far include Pentagon Properties, Manage America, Dynamic MH Solutions and Nelson Communities (Triple Wide Supporters), Rent Manager, Zippy and Legacy Housing (Double Wide Supporter) and Mobile Insurance and Affordable Casa Group (Single Wide supporters). (Justine, 30:53) Besides the phone numbers given, you can also reach out to Max and Kathryn if you'd like him to learn more about WAHM. Just drop them a line at [email protected] or call The Mobile Home Park Broker at (678) 932-0200. Power Quotes in This Episode: (At SECO) "…we were all virtually chatting and…it became very clear very quickly that there was a need for a female-based group where people could find other females within the industry, and network with them." (Justine, 1:41) "So we started thinking of having webinars or Zoom meetings where

In this episode of The MHP Broker's Tips and Tricks Closing Cocktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed leading company broker Ryan Ramseur about his recent deal selling Hawk's Nest, a metro Tampa mobile home park. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: - Top-performing The MHP broker Ryan Ramseur got interviewed by Max on his recent transaction selling Hawk's Nest Mobile Home Park in metro Tampa, FL. (Max, 0:22) - This was a 43-pad park with a well water and septic system for which the park owner was also the licensed operator. One major sales perk was that the owner was willing to stay on for awhile after the sale to help the new owner get established and make the transition as smooth as possible. (Ryan, 1:23) - Ryan was able to get almost list price for the property, which was a stable asset and a turnkey operation. He was also able to show the new owner the potential for increasing rents to get them up to market value. (Ryan, 2:06) - One takeaway that Ryan learned was that pride of ownership really shows, and increases the value of a park. The seller was very much a hands-on, involved owner who knew every tenant by name. By steadily investing in your property you can command a higher price when you go to sell. (Ryan, 2:42) Want to buy or sell an RV park or mobile home community in the Tampa area or elsewhere through our innovative Community Price Maximizer platform? Just drop Max Baker a line at [email protected] or give him a call at (678) 932-0200. You can also get in touch with Ryan directly at [email protected]. Power Quotes in This Episode: "It's nice when you have sellers that you know care enough about the incoming owner not to leave anybody hanging, and and willing to do whatever they can to make sure that the transition runs smoothly." (Ryan, 1:23) "Whether they have a third party management company, or whether they're very hands-on, and (as a buyer) having visited the property multiple times, you really get the takeaway of pride of ownership." (Ryan, 2:42) "When you're invested in your business, it shows on the back end, and you're able to command a higher price ultimately." (Ryan, 2:42)

In this episode of The MHP Broker's Tips and Tricks Closing Cocktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed rising star broker Paul Schaaf about his challenges and ultimate triumph in brokering the Darlington SC 2-park mobile home park portfolio. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: - Max interviewed The MHP Broker's Paul Schaaf regarding what he went through in successfully selling a two-park portfolio in Darlington, SC. (Max, 1:13) - This was a mom and pop operation with a lot of park-owned homes. This would be an advantage for a buyer in that rents in that booming market could go for nearly $1,000 a month after some remodeling work. (Paul, 1:25) - But the parks got a short appraisal. That was unexpected to Paul since lot rents were at about $100 under market. He tried contesting the appraisal, but that failed. So he got buyer and seller together and found that they both still wanted to complete the transaction. They were all on the same team, so Paul was able to get the seller to agree to a carry back financing program to self-finance the deal. (Paul, 2:11) - This deal was like many from The MHP Broker, in that the sale went through to the first prospective buyer. Max credits that to the careful front-end due diligence the company always performs in order to put the right buyer in front of the seller. (Max, 3:17) - One reason Paul believed in the sale price, and tried to stay as close to it as possible, was the presence of a storage unit that sat empty and wasn't currently bringing in any income, but he felt it had nice potential for a buyer. (Paul, 4:37) - The deal came about from a referral. This emphasizes the impact of doing great work for clients so they refer your company to friends and associates, and it further demonstrates the power and influence of the The MHP Broker brand in satisfying clients. (Paul, 5:14) Want to learn more about how The Mobile Home Park Broker team can save even the most challenging transaction and close your deal? Drop Max Baker a line at [email protected] or give him a call at 678-932-0200. Power Quotes in This Episode: "There's always a little bit of drama, but we're able to get through it and close the deal at the end of the day." (Paul, 4:37) "Our brand is so strong that we can continue to fill the pipeline with listings and make sure we're doing a good job. So, referrals would be the key takeaway I'm thinking of right now." (Paul, 5:14) "Problems don't kill deals, surprises do. And Paul is one of the biggest researchers on our team to make sure that your contract and close ratio is as close to 100% as possible." (Max, 5:47)

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Ryan Narus, a syndicator and the owner of multiple mobile home parks. Ryan discussed the many ways that digital automation has improved the business for himself and his team. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: · Max interviewed Ryan Narus, the owner of 74 mobile home parks, with some 4,000 total lots, in six southeast U.S. states. (Max, 0:22) · The interview primarily focused on Ryan's success with automation, especially with the digital application Rent Manager. (Max, 2:02) · While some might think of automation as the technology that kills jobs and replaces workers with robots, Ryan sees an entirely different side, one in which today's digital technology can improve productivity and even create jobs in the long run. (Ryan, 3:27) · Ryan first got into computer programming and his appreciation for automation in pursuing his bachelors and MBA degrees at Wake Forest University, especially while studying business analytics. Therefore, he's never had a fear of encroaching technology, and sees the multiple benefits. That's why he embraced Rent Manager, an application that automates much of the day-to-day duties of mobile home park management, as soon as he explored it. (Ryan, 4:02) · Ryan even found drawing up lot leases, a particularly labor-intensive park management job, to be fast and easy and more efficient with Rent Manager. (Ryan, 5:09) · Such menial tasks as lease signings and termination agreements and recording the handover of keys are now automated, so Ryan's park managers don't have to knock on doors. By signing certain automated documents, residents leaving voluntarily can be reminded to turn in keys so park managers don't have to chase them down and the former residents don't get mistakenly labeled as being evicted. (Ryan, 5:58) · Ryan estimates that today about 95 percent of the time spent on his company's books and most of his accounting is automated. And he never has to handle checks or money orders. (Ryan, 6:29) · Ryan saw the benefits when nearly everyone in his workforce came down with COVID at one time or another, and he no longer had the manpower to do the many small tasks that could be automated. With Rent Manager, his team and investors get daily automated reports that land in their inboxes every day by the time they awake. It was also during this time when Ryan came to appreciate Metron, the digital water management system his company's mobile home parks use. Metron eliminates the act of physically reading meters, tabulating and turning in data, and billing residents. And residents benefit from the daily data by not receiving surprise water bills at the end of the month, due to the accumulated cost of undiscovered leaks. (Ryan, 7:08) · Ryan hasn't laid off a single employee as a result of the automation his company now relies upon. Instead, workers who no longer have to take on the tedious everyday tasks the automation can better handle now have the time to focus on their talents and the work they really want to pursue. (Ryan :40) · The training on Rent Manager is immersive. Ryan lets his employees learn and improve on the system by doing, even though there is almost always initial frustration on his workers' part. He mentioned that the app also offers Rent Manager University, an advanced training service if employees need it. (Ryan, 9:42) · Metron's WaterScope software is especially valued by Ryan and his company. With it, they get daily data on everything the water meters show, such as water usage per gallon, per minute, per unit. This immediately alerts park operators to unusual water usage, and potential leaks or unwarranted excessive use (such as from filling pools). (Ryan, 13:19) · Ryan pays about $7 a month per meter for the new meter system, including data reading and alerts. (Ryan, 19:44) · Ryan related an unwanted memory from the pre-technology days when he had to take a day's drive from Spartanburg to Charlotte to physically read meters at a park in the pouring rain. He first had to pump mud and rain off of the meters so he could read them and got bit by ants in the process. This contrasts with today's method of getting daily automated readings as an email or text message. (Ryan, 19:56) · As for Ryan's book reading habits, he tends to jump from book to book and read several at a time. Favorites right now include The Referral Engine: Teaching Your Business to Market Itself, by John Jantsch, and Deep Work: Rules for Focused Success in a Distracted World, by Cal Newport. And anything by Robert Greene. (Ryan, 22:09) · Check out Ryan's own podcast, Mobile Home Park

In this episode of The MHP Broker's Tips and Tricks Closing Cocktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed rising star broker Paul Schaaf about his challenges and quick success in the recent sale of Grace Mobile Home Park. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: - The challenge with the sale of this park was that Paul was dealing with the family of the park owners who'd recently died. None of the survivors knew much about mobile home parks or how to market them. They needed Paul to evaluate the park and the sale opportunity. It was primarily a park-owned home asset. (Paul, 1:27) - Paul's first task was to educate his clients on the marketing of a mobile home park, and to set realistic expectations. (Paul, 2:08) - Paul quickly got some solid offers for the park, and went with a regional buyer who knew the market. He carefully conducted due diligence on the buyer, made sure the buyer was comfortable with the transaction, and held hands with the sellers to make sure they understood every step in the process and could provide all documentation needed to complete the closing. As a result, the park closed in an incredibly fast 35 days. (Paul, 2:32) - Paul's experience with this sale reinforced The Mobile Home Park Broker commitment to a strong contract-to-close ratio through due diligence and by doing business repeatedly with trusted entities. Many competitors need to bring five or six "buyers" to a seller before successfully closing with that last one. That's the result of weak due diligence, which can complicate and painfully slow down transactions. (Max, 3:14) - One key takeaway to this deal was that the parties came together through a referral from a satisfied former client, which emphasizes the importance of maintaining a strong brand with a reputation for good, clean transactions that generate enthusiastic referrals. (Paul, 4:33) Looking into the possibility of selling your community? Ask The Mobile Home Park Broker team how they maintain their high contract-to-close ratio to sell your park as quickly and as cleanly as possible. Drop Max Baker a line at [email protected] or give him a call at 678-932-0200. Power Quotes in This Episode: "They really appreciated our thoroughness and service every step of the way and it was a good transaction between all parties." (Paul, 2:19) "Typically, when we put your community under contract it's going to close the very first time." (Max, 3:14) "Our brand is so strong that we can continue to fill the pipeline with listings and make sure we do a good job." (Paul, 4:33) "(Paul and our other dealers)...make sure that your contract-to-close ratio is as close to 100% as possible." (Max, 5:05)

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Gabriel Elendu of ABT Water Management. Gabe's company sells, installs and services digital water meter systems to manufactured home communities all over the country. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: · Max interviewed Gabriel Elendu for this episode. Gabe has been with his family's business, ABT Water Management, for the last seven years. (Max, 0:22) · One trend Gabe is seeing all over the country is the high and rising cost of water, and park owners trying to contend with that and the additional challenge of dilapidated water metering systems. (Gabriel, 2:20) · Currently, the focus is on helping existing customers sort out their system needs. (Gabriel, 2:25) · The infrastructure into which the meter is placed plays a big part on how well your park's meters will perform. That can means such obstacles as no heater tape or non-working outlets. (Gabriel, 3:51) · Full line replacement is often recommended. (Gabriel, 4:37) · The local climate often plays a part in how well water meters will perform. (Max, 5:28) · Another way to wear out the device prematurely is to install it vertically when it's not supposed to be installed that way. (Gabriel, 5:34) · In reading the data, some systems pick up a signal just like a cellphone, while others operate off of a fixed-signal radio service. The cellular service technology is especially appropriate in rural areas and other locations where WiFi service isn't common. If broadband is readily available, the radio service works fine. (Gabriel, 6:13) · These new "smart meters" eliminate human error in reading meters, and can send water usage data back to the park owner the next day rather than at the end of the billing period. That way, increased usage patterns by residents can be realized much sooner, before the bills escalate dangerously. You'll also know almost immediately if residents are tampering with the meter to escape paying the full amount. (Gabriel, 7:47) · The meter system from Metron is so durable that it comes with a 20-year warranty, covering the entire system, including the radio. (Gabriel, 9:44) · The smart meters sell for $249.50, plus $2320 for the centralized data receiving station (which digitally reads the water usage data). (Gabriel, 10:45) · Gabriel's company can also do the installation of a smart water meter for around $250 to $300, or the new owner can hire their own plumber to install. The installation cost can increase or decrease depending on such factors as the number of units to be installed, and the distance that must be traveled. (Gabriel, 11:48) · It's quite possible to pay off a meter installation in nine months to two years, in water savings and billing accuracy. (Gabriel, 12:18) · ABT Water Management only charges a fee of $5 per month for data reading and reporting, and the billing of all tenants. (Gabriel, 14:09) · ABT can collect water bill payments from your tenants and send park owners a monthly check so the owners can send it to their municipality. (Gabriel, 15:13) · The meters operate off of a lithium ion battery that costs about $50 and comes with a 10-year warranty. (Gabriel, 17:59) · As far as books of interest to business owners, Gabriel recommends Be the One: to Execute Your Trust, by David Robinson and Eckhart Tolle's The Power of Now. (Gabriel, 20:29) · Gabriel is also known as rap singer Gabe Gizz, with a presence on Instagram. (Max, 21:04) · In addition to performing his own music, Gabriel has started a record label and has signed 16 other artists. (Gabriel, 22:37) · You can find him at [email protected], or find Gabe Gizz on Instagram. (Gabriel, 23:47) Want to learn more about smart meters or other trends, strategies and technologies that make community ownership easier and more profitable? Just drop Max a line at [email protected] or give him a call at 678-932-0200. He can put you in touch with Gabriel Elendu at ABT Water Management. Or reach out to Gabe directly at [email protected]. Power Quotes in This Episode: "...what I've seen is a bigger factor, more so than the actual build of the meter, is the infrastructure that the meter is going into. So, if you have a dilapidated infrastructure, if you have, you know, no heat tape, which we see a lot… your power outlets aren't working underneath…the environment that the meter is going in is going to play a role rather than the actual meter itself." (Gabriel, 3:51) "...as opposed to getting your bill at the end of the month and having a huge bill, we're actually detecting the high usage of water the next day because our meter's flagged for a 24-hou

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Kurt Kelly, president and CEO of Mobile Insurance. Kurt's company specializes in selling mobile home community insurance products to park owners. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: · Today's interview is with Mobile Insurance owner, Kurt Kelly. Kurt has been a faithful advertiser in Max's newsletter for ten years. (Max, 0:22) · The company Kurt leads was once owned by General Electric. In the 1990s, GE did most of the financing for commercial and consumer mobile home sales. (Kurt, 2:01) · In 1991, GE decided to get out of the business, which would have put Kurt's stepfather out of business, so the older man bought what was left of Mobile Insurance, and ran it. (Kurt, 2:21) · Kurt joined his stepfather in the business in 1996 and took it over in 1998. Kurt took inspiration and lessons from Jack Welch, the former CEO of GE, when running his own business. (Kurt, 2:52) · Kurt works with a network of insurance companies across the nation that specialize in some aspect of insurance needs for community owners. He sees one key responsibility as helping park owners realistically evaluate their mobile home values. He points out one park owners who had his newer homes severely undervalued at $10,000 to $12,000 each for insurance purposes and would have gone bankrupt if the park has sustained significant damage such as by tornado or hailstorm. (Kurt, 3:59) · Max pointed out that he's seen parks both undervalued and overvalued for coverage. (Max, 5:24) · Today, the main problem is that parks are undervalued in about 95 percent of cases because of the escalating rise in the value of parks, though improper valuation either way can lead to major loss. For instance, if your park worth an estimated $1 million is insured for $2 million, your insurer will settle for replacement cost or what you insured the park for, whichever is less. So you're probably only going to get $1 million. (Kurt, 6:14) · Coverage is getting more expensive because of climate change. Now we're seeing more severe storms everywhere, and fires in the West. This increases building costs so that building that might have been built for $200,000 just three years ago might cost $300,000 to build today. When the structure is more expensive, so is the insurance. (Kurt, 8:24) · Property owners should therefore look at their valuation annually, so their insurance keeps up with rising value. Kurt offered a personal example of what can happen if property is undervalued. He owns a condo in a building in a ski resort in Montana. The building was insured for $15 million, but informal appraisals put the replacement cost at more like $50 million. If the building burned to the ground, they'd be severely underinsured and condo unit owners would get pennies on their investment. (Kurt, 10:02) · General liability insurance is important for park owners, but they must be aware of what the exclusions on coverage are. (Kurt, 11:26) · Such exclusions such as for contractor bodily injury, swimming pool accidents or animal bites might cost owners plenty. Park owners also need to get site revenue insurance. If a tornado knocks everything out for six months to a year, you won't be making any revenue for that long. (Max, 11:43) · Cyber liability is a new need for park investors today. (Kurt, 12:39) · People in the business tend to have big chunks of cash sitting around in bank accounts between deals. Cyber criminals know this and make every attempt to get it. Both Kurt and Max have experienced serious attempts at high-dollar cyber theft. (Kurt, 12:52) · Wire transfers can be particularly risky, so, in addition to having cyber insurance, it's important to have protocols worked out with your bank as to how transaction requests are handled. (Kurt, 15:04) · Among Kurt's business book recommendations is Never Split the Difference, by Chris Voss. It's on the art of negotiating, from a former FBI negotiator. Kurt, 17:06) · If anyone is looking for mobile home community insurance, or just has questions on the topic, they can reach out to Kurt by calling his cell phone at (281) 460-8384, or dropping him an email at [email protected]. Reach out to Max to learn more about winning strategies in the mobile home park industry and to find out how to sell your property for the best possible price. Just drop Max a line at [email protected] or give him a call at 678-932-0200. And be sure to check out Kurt Kelly at Mobile Insurance for all of your mobile home community insurance questions or needs. Power Quotes in This Episode: "(GE was) going to spin off the little insurance ag

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Sam Hales, president and CEO of the Saratoga Group. We talked about Sam's strategy of founding his own construction company to work on all of his various projects rather than having to hire locally every time. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: · Today's interview is with mobile park owner Sam Hales of the Saratoga Group. Sam is a mobile home park owner with whom The Mobile Home Park Broker has closed several deals. (Max, 0:22) · Sam is one of the top owners in the country, with 97 parks and a total of more than 6,100 lots in 17 states, with more deals closing in the next 30 days. (Max, 0:55) · Sam loves operating in the southeast U.S. and in certain Midwest states. (Sam, 1:32) · When Sam and Max met at SECO, Sam mentioned his new strategy of bringing in his own construction contractor and crew rather than being at the mercy of local contractors for park projects. (Max, 1:50) · When Sam bought a 312-lot park in Kentucky, he inherited a serious sewer line repair challenge. (Sam, 3:45) · His first two local bids were each for over $2 million. (Sam, 3:59) · Local contractors seemed to know they could charge what they wanted because they were the only game in town. And they saw it as a one-off project, so they figured to get as much as they could. Even when Sam got a bid from someone he'd worked with before, it still came in at $1.7 million, which was still way too much. (Sam, 4:23) · Then Sam got to talking to a contractor who was doing construction on his home in Tennessee, and found that the contractor had built mobile home parks from scratch in the past. So Sam made him a deal to send him and his crew to the Kentucky park for a couple months, set them up in RVs and with per diem living expenses and pay them by the hour. (Sam, 5:49) · The final bill came to $230,000, vs. the quotes for $1.7 million to $2 million-plus he'd received from local contractors. (Sam, 6:30) · The contractor they brought in was a problem-solver who could figure out how to get things done in fewer steps and was able to cut out over half of the scope of the work. (Sam, 7:18) · Now this same contractor and his crew are working on a drainage problem at a Memphis park of Sam's. (Sam, 7:21) · And from there the team will go to a park in Marietta, GA that Max sold them. Two old buildings need to be torn down and replaced with additional lots. (Sam, 7:59) · Sam found that by controlling one construction company and sending them where needed, he could control his project priorities and get the work done when needed, and at a cost savings over constantly having to bid and hire locally. (Sam, 8:23) · After seeing the success of this working arrangement over his first few projects, Sam's now in the process of officially establishing a construction company and hiring his contractor and team. He can use this approach not only for handling work projects in his parks, but also for building communities from scratch. (Sam, 8:54) · Sam has an experienced project manager on payroll, and his brother is an engineer to handle all job planning. (Sam, 10:24) · The contractor loves being free of the administrative responsibilities of running a company, and being able to focus his time and attention on construction, so he loves the arrangement. (Sam, 14:05) · His contractor also hated the constant hassle with getting paid so he can pay his crew. (Sam, 15:02) · It took awhile before the contractor saw that he was regularly getting paid per schedule by Sam, so that was a big worry he no longer had to focus on. (Sam, 15:44) · Sam's attention now is on economic challenges he sees on the horizon. He's reading books and listening to economists to position his company for ongoing success, whatever happens over the next year or two. (Sam, 16:26) · Sam thinks his company can ride out a recession since he's in a somewhat recession-proof industry. (Sam, 18:12) · Max remembered a situation when he started out, in 2009, where a lot of mobile home park residents in Alabama were foreign-born day laborers. When the authorities showed up to the parks and requested green cards, the parks emptied out. This is an example of how the ever-changing political landscape can have a serious impact on the economics of park owners. (Max, 19:05) · Sam's parks are about half occupied by Hispanics. He's not concerned about residents being detained and deported, but if the economy dries up will there be enough work for his tenants? If not, will they leave the parks and return to their home countries? (Sam, 21:20) · Sam doubts that this will be a problem, because economic con

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Jimmy Cotty, the executive director of the Georgia Manufactured Housing Association, or GMHA. This and every Tips and Tricks podcast episode is brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: Jimmy Cotty has been executive director of the Georgia Manufactured Housing Associaton (GMHA) since April, 2022. (Jimmy, 1:13) Jimmy was previously executive director of the Georgia Ready-Mix Concrete Association for 12 years. Before that, he was with sister organization, the Georgia Construction Aggregate Association. So, going back to 2006, Jimmy has significant relevant association experience in the state. (Jimmy, 1:52) Jimmy sees his primary mission as making the state more business-friendly to the manufactured housing industry in general. (Jimmy, 3:43) Coming out of the last recession, former Governor Nathan Deal made it his mission to make Georgia more business friendly, and current Governor Brian Kemp has continued that tradition. As a result, over the last eight or ten years the state has earned the number one ranking for business friendliness from a number of leading business publications and economic development organizations. (Jimmy, 7:17) More growth means more jobs, and not just in the major cities, and an increased need for affordable housing throughout the state. (Jimmy, 8:20) The state needs to develop a housing policy in which housing needs are broken down geographically, so that workers don't have to live some two hours away from their jobs. (Jimmy, 9:11) Builders are eager to build the $400,000 to $500,000 homes, but where is more affordable housing being developed? That's where manufactured housing and communities come in. (Jimmy, 9:47) The loss of laborers and tradespeople is hurting the home construction industry too. (Jimmy, 10:49) Research from Max's sister company, Mobile Home Wholesalers, has shown that one in ten people nationally live in a mobile or manufactured home. In Georgia, the rate is one in eight, making the state one of the highest in terms of residents living in manufactured housing. One result of that statistic is that there are some 4,000 used mobile home sale transactions conducted monthly in the state. So there's great opportunity here. (Max, 11:54) The first challenge to the industry is perception. Local communities are taken in by the stereotype of trashy mobile home parks, and don't see today's quality housing construction in manufactured homes. (Jimmy, 13:27) Local zoning ordinances can make it difficult to nearly impossible to establish manufacturing home communities in some places in the state. (Jimmy, 14:10) State taxes on home sales are also a challenge. Working the tax into a monthly house payment makes the manufactured home unaffordable to some prospective homeowners, so we've got to look into how we can tax these homebuyers more fairly. (Jimmy, 15:33) Some county tax commissioners have a better understanding than others on the value of affordable property taxes that encourage the establishment of new and higher quality mobile homes over the older and less attractive stock. (Jimmy, 19:43) Max saw, in talking with industry people in Alabama, that a big obstacle everywhere within the industry is the lack of home movers and installers. Most are getting p into their sixties or beyond and retiring or dying. Greater effort must be made to bring younger people into the trade. (Max, 20:41) Those who remain in the moving/installation industry can charge outrageous rates, which can make mobile homes beyond the means of many residents. (Max, 21:58) Jimmy has found the absence of commercial truckers to be an impediment in every industry he's been in. He's talked to insurance commissioners about it, and sees it as a further knock on the quality of the mobile home housing if the stock isn't installed right. (Jimmy, 23:59) The GMHA has added quality healthcare benefits as an additional incentive to join the association. (Jimmy, 25:13) Cybersecurity is another feature of membership they're exploring, for members who must use digital programs to handle sensitive personal information to pre-qualify tenants. They're also looking into the possibility of offering property insurance to members. The more services and features GMHA can offer, the more they can increase membership. (Jimmy, 26:12) GMHA is also establishing chapters across the state so more people can meet face-to-face regionally. (Jimmy, 27:12) The GMHA has, and continues to build upon, a great and fruitful relationship with the state's Realtors Association. (Jimmy, 28:54) The GMHA is also working on building connections with the Georgia Association of Tax Officials and

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Lance Latham, president of the Alabama chapter of the Manufactured Housing Association. This is part of Max's informative series of podcast discussions with MHA leaders across the country. This and every Tips and Tricks podcast episode are brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: Lance Latham has a political background as chief of staff for the Alabama legislature. He's been with the Alabama chapter of the Manufactured Homes Association (MHA) for the last six years, working his way up from deputy director to executive director. (Lance, 1:11) Alabama has 17 manufactured home plants. (Lance, 2:31) Alabama sells its manufactured homes throughout the southeast, in parts of the Midwest, and even near the Washington D.C. area. The market is now slowing slightly, but that's a good thing because it was so overheated for so long. (Lance, 2:34) An interesting phenomenon Max has noticed, through his sister company wholesaling used homes to mobile home communities, is that new homes are now priced even slightly lower than homes that are a year or two old, just on the basis of supply and demand. (Max, 3:15) Supply and labor shortages had driven pricing up for new homes during COVID, but these challenges are working themselves out and that's reducing costs. (Lance, 3:58) Today, used homes represent about one-third of manufactured home installations in Alabama. This includes both homeowners selling their own, and rent-to-own (RTO) options by community owners. (Lance, 4:28) The top major challenge being addressed by the Alabama MHA is the scarcity of younger home movers/installers. Most are in their sixties, and few are in their thirties. This raises the price of manufactured housing to make it beyond the budgets of many potential buyers. The Alabama MHA is tackling the problem by partnering with community colleges in the state. (Lance, 5:23 and 5:44) The MHA is developing a training and certification program－or "boot camp"－to graduate a core of knowledgeable and more affordable installers. (Lance, 6:25) That's a program that would also be a valuable add to the Georgia market, in that the absence of qualified movers/installers slows down the installation process and raises costs in the Peach State too. (Max, 6:55) It's costing manufacturers tens of millions of dollars (or more) to correct installation problems due to incompetence. This is a major complaint of homeowners, and one that can be solved with qualified, educated installers. (Lance, 8:01) The state started the program at Bevill State Community College in Sumiton, and has introduced it in additional community colleges throughout the state. (Lance, 9:11) With the price of site-built housing continuously rising, it's a great time to introduce new market audiences to the concept of manufactured housing, including demographics that might not have considered such housing before, and have no idea about the high-quality construction standards of today's manufactured homes. (Lance, 10:32 and 11:06) As a way of promoting that quality distinction, the Alabama MHA is conducting Promotions with the University of Alabama and Auburn University to pick contestants who can win a $75,000 down payment on a manufactured home. (Lance, 11:35) The Alabama chapter is also making a point to educate local zoning board members and city counselors on the quality of the homes as a way to address their concerns for new communities without establishing adversarial relationships. (Lance, 12:08) Alabama park owners can join the state's chapter of the Manufactured Housing Association by checking out the website at alamha.org. Contact Linda Drumheller, the chapter's director of member services. Membership costs $75 per location per year. Benefits include guidance on and samples of lease agreements and pet policy language, marketing guidance to help park owners get residents, statistical information regarding installations, sales and other valuable data, and other benefits. (Lance, 20:40 and 21:30) Reach out to Max to learn more about the accomplishments of MHA chapters and trends in the mobile home park industry. You'll also find out how to sell your property for the best possible price. Just drop Max a line at [email protected] or give him a call at 678-932-0200. Power Quotes on This Episode: (On Alabama's leadership in building manufactured homes.) "Only Texas builds more homes than we do." (Lance, 2:20) "We have a sister company called Mobile Home Wholesalers. We wholesale used homes to park owner and we're noticing that the new home pricing is actually cheaper than the one- or two-year-old homes, as the pricing for used home is

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Frank Rolfe, a Top 10 Community owner and co-founder of the highly respected CRE University. This and every Tips and Tricks podcast episode are brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: Frank Rolfe is a legend in the business as the co-owner, with Dave Reynolds, of some 200 communities in 25 states, with 300 employees. Frank also co-founded CREUniversity, a leading educational resource for commercial real estate investors. (Max, 0:22) Frank's daily planning process involves starting his workdays by first plotting the phone calls he intends to make and the trips or activities that will also make up his day. (Frank, 2:43) The goal is to plan out every minute of the day for maximum productivity. Though Frank uses Google Calendar, he's never stepped away from keeping old-school hand-written notes, his primary form of day planning. He also does a lot of driving between properties. He used to have offices in various communities, but he now works from his home or car. (Frank, 3:02) In addition to daily plans, Frank has long-range plans projected five and ten years into the future, and still has records from such planning from as far back as 1980. (Frank, 4:49) Here are the top five lessons, or "aha moments" Frank has learned and profited from during the course of his career… 1.) Don't be afraid to make needed personnel changes. (Frank, 6:02) 2.) Think like a lender. In other words, be able to judge your park like a banker would, and keep it in the kind of condition that would impress such a lender. (Frank, 7:29) 3.) Take "other people's money" very seriously. When investors trust you with their funds, that should create a lot of pressure to use that money to the benefit of the investor. The pressure is (and should be) much greater than when you're spending your own money. (Frank, 7:57) 4.) Each of the 50 states is different in terms of rules, laws, regulations, statutes and cultures regarding mobile home parks. The way you'll operate your park depends greatly on where it's located. (Frank, 8:26) 5.) Moderation is important in business operation in this industry. Think before doing. (Frank, 8:26) 6.) Even the mobile home park owner associations are different culturally, from one state to another. (Max, 12:44) Some park owners can grow aggressively, taking on new partners and sources of funding to continually add park inventory. But that's not for everyone. Some park owners would be better off staying small. Just know what you can comfortably take on. (Frank, 14:19) It's a quality of life issue. Constant growth, with its risks, could make your life worse rather than better. (Frank, 14:49) Frank's own company grew organically from the 1990s, when it was nearly impossible to be taken seriously by banker when you wanted to invest in mobile home parks. That's really changed lately, though. (Frank, 15:54) It's easy to get arrogant and over-confident if you have initial success in business. It can make you think you're a business wizard, and that can lead to failures down the road. So stay humble. Know your strengths and weaknesses. (Frank, 16:51) Over the next five to ten years, Frank sees much higher rents and unsustainably high new-home prices. (Frank, 18:57) As the cost of affordable housing continues to rise in the U.S., Frank sees an ever-expanding market for mobile home housing. (Frank, 20:10) Now the emphasis has to be on figuring out how to manufacture more affordable new mobile homes. (Frank, 22:13) Frank agrees with Max that there's a market for tiny homes. But the obstacle he sees is that homes manufactured to gain HUD seals aren't as cool or highly sought as homes not built to such specs. This is the challenge the industry will face, but there's great upside if they can figure it out. (Frank, 22:54) When Frank co-founded CREUniversity in the 1990s it was because there was no information out there on mobile home park investing. He found two old books, and that's about all of the educational resources on the market (besides the hucksters). There was an opportunity and a need, so CREUniversity came into existence. (Frank, 29:18) Frank picks and choose chapters from various business books to read, but one of his all-time favorites is Am I Being Too Subtle: Straight Talk from a Business Rebel, by Sam Zell. He highly recommends it. (Frank, 35:58) Reach out to Max to learn more about trends in the mobile home park industry and find out how to sell your property for the best possible price. Just drop Max a line at [email protected] or give him a call at 678-932-0200. Power Quotes on This Episode: "(CREUniversity is) the best educational platform…for m

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed Cole Phillips, president of Phillips Investment Properties, on his experiences buying and managing the mobile home setup and major renovations of a Mobile Home Park in Perry, GA. We also chatted a bit about SECO22, this year's edition of the Southeast Community Owners annual conference. This and every Tips and Tricks podcast episode are brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: Cole Phillips is a park owner and third-party service provider to the industry. (Max, 1:03) This edition of Tips and Tricks discussed Cole's work with a mobile home park in Perry, GA. In addition to owning parks, Cole's company also specializes in such services as setups, which is moving mobile home into client parks, and dealing with movers. (Max, 1:37) Cole had looked at the park years before, with his partner Steve Case, and both had shown no interest. The park was in shabby shape and in trouble with the city of Perry. In early 2021, a broker contacted Cole and asked him to look at the park again. By then it was in such bad shape that the city was fining it on a daily basis. The difference at that tim was that the city had done a beautiful job of renovating the surrounding neighborhood, so Cole convinced his partner to take another hard-edged look. If the city let them do things their way, they'd step in, buy the park and make the necessary renovations. (Cole, 2:37) Cole called the first meeting with about 10 city officials, introduced themselves and pitched their track record with parks. He said they'd document what they did, every step of the way. (Cole, 5:23) Cole pitched some pretty aggressive proposed improvements, including the removal of what would turn out to be 200 trees and major road repair and repaving. For proof of what they could do, they showcased their park in Centerville, just 15 miles down the road and said they wanted to do the same thing in Perry. (6:30) By the time Cole went to the second meeting with the same local team, they'd brought up additional questions and apparently got the answers they wanted to hear. The city officials were anxious to add affordable housing to the neighborhood. The daily fines with the current park owner had reached six figures, but the officials said they'd discontinue the daily fines if Cole's company bought the park and they made the improvements within an agreeable timeline. That was the carrot. The stick was that if Cole's company missed the timeline or didn't complete the improvements as agreed upon, the fines would continue. Cole enthusiastically agreed. (Cole, 7:47) Cole signed with the city and took on the project in February, 2021. (Cole, 9:25) By December of that same year, ten months after they'd started, the project was successfully completed. (Cole, 10:05) Beyond the park itself, the true benefit was that the company now had an entire town's worth of officials as references to the fact that Cole and his people made ambitious promises--and lived up to them. Park owners often have an adversarial relationship with cities, but he showed how at least one company could work in harmony with a city to not only beautify but bring back to life a park and make it a city showcase. (Cole,10:28) There are now 60 brand new homes on that property. They're still working on final touches. (Cole, 11:47) One of Cole's main services is still home setup for other park owners. He'll bring in homes, and deal with the movers. He estimates that he's setup an average of about 375 homes a year over the last five pre-COVID years. (Cole,13:53) COVID impacted that total considerably, because manufacturers were slowed down, but business is returning. (Cole,14:09) For SECO22, which is Oct. 3-6 in Stone Mountain Park in suburban Atlanta, Cole will have some presence, but not as much as usual. He'll probably be part of a panel discussion to discuss the Perry project and other issues, but he won't have a booth because he's just too busy. (Cole, 17:09) SECO22 will be the first physical show after COVID turned the conference virtual for the last two years, and about 500 people are expected. (Max, 18:03) Reach out to Max to see how The Mobile Home Park Broker can evaluate your community, help you get the best selling price, and, if needed, bring in such partners as Phillips Investment Properties and other experts to increase the value of your community. Just drop Max a line at [email protected] or give him a call at 678-932-0200. Power Quotes on This Episode: "(Cole's company is the) here-are-the-keys type of third party that you can hire to come in and essentially get your homes in there, and deal with all of the knucklehead movers that are

MHP Brokers Tips and Tricks Podcast, Underwriting 101 In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, will talk about the basics of underwriting mobile home parks and RV communities. This and every Tips and Tricks podcast episode are brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: This is the first of what will be multiple Tips and Tricks podcasts on the variables in underwriting mobile home parks principally, but also RV communities. Think of this initial podcast as an introduction to the subject, a sort of Underwriting 101. (:56) We're not appraisers, but we conduct the evaluations of communities that lenders often refer to in appraising communities. (:56) Utilities are often the number one variable we rely on. Your water system variables on city water include mass metered systems, direct billed and sub-metered. Then there's well water. Direct billed systems are best in that the resident deals directly with the utility for water and sewer, leaving you totally out of it. Mass metered and sub-metered systems are less desirable to investors, in that the meters can break down over time and you might end up paying for more water than you think your community is using. And, of course, you have to bill your tenants for water. (:56) After direct billed systems, well water can work out okay as long as the well is drilled deep enough and doesn't go dry. Owners in some states can turn a small profit in billing tenants for their well water, but North Carolina, for instance, is very critical on charging tenants for water this way. So it just depends on the state. (2:57) Lagoons are common as water sources in some parts of the country. Owners might think of them as "free" water, but the cost of filtration and sewer treatment equipment can get ridiculously high. (5:03) Septic tanks are another variable. Some can be at large as a three- or four-bedroom home while others might be two or three times that size! I'll have more to say about septic tanks in future underwriting-themed podcasts. (7:08) Yet another variable is park-owned vs. tenant-owned homes. Most parks consist of POHs, but you have more TOHs in the inner cities. These are desirable because you can have lower cap rates with them, and less responsibility in terms of maintenance and upkeep. Parks that sell the fastest are those with TOHs, direct billed water and sewer and paved roads maintained by the city. In other words, the less you the owner must do, the more valuable the property. (8:12) Paved roads are the most desired, with dedicated gravel and dirt roads much less valuable, but less of a problem if they're owned by the city. You can call for maintenance and repairs rather than having the handle them yourself. Concrete roads are problematic because they crack easily and frequently have potholes. (9:42) When investing, you must also look at the property management situation. Some parks have third-party property managers, some have inside managers (they live there and work for rent reduction). The most problematic is the park in which the mom and pop owners are the managers. When they leave or retire, it can take significant time to put new management in place. In the meantime you get tenant complaints and maybe even new vacancies. So this is the most high-risk variable in this area. (11:09) Good clean and complete books and records are most desired and can reduce the cap rate because they decrease investors' risk. (13:25) Occupancy rates are perhaps the most critical variable when selling your park. One that's fully or largely occupied gives the new owner less to do and will usually come in at a lower cap rate. (14:06) On a related note, now is also a good time for park owners to invest in good used mobile homes as prices come down from the highs during the pandemic. (15:04) Reach out to Max to see how The Mobile Home Park Broker can evaluate your community and help you get the best selling price possible. Just drop him a line at [email protected] or give him a call at 678-932-0200. Power Quotes on This Episode: "This is the creme de la creme when it comes to mobile home communities, city water and sewer, direct billed." (2:57) "...if you've got a community that's direct billed, paved roads owned by the city and not private, all tenant-owned homes, lot rents in the $300 and up, I can tell you right now I can make three phone calls and get you a six cap on something like that, especially in a primary market. (8:12) "Management is a huge variable, because you've got some management companies that are massive, and sometimes they're outsourced. Sometimes there is none and sometimes there's a mom and pop doing it. Obviously, the ones that are the less risky are

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, will explain the principles of Lifestyle Design and how it creates better work/life balance. Then he'll offer eight tips that can help get you and your company there. This and every Tips and Tricks podcast episode are brought to you by The MHP Broker's' proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details. Here Are the Show Highlights: Max explains how the lifestyle design concept improved the way he does business. And it supports his belief that the fundamentals of business need to be "boring." That is, the process should be established and closely followed to avoid unpleasant surprises. (0:58) He discusses how, when he started The MHP Broker in 2009, it was one of three jobs he held down just to survive. He worked 80-hour workweeks and wracked up credit card debt of nearly $30,000. He also had an unreliable partner who soon left the business. (1:46) As difficult as it was, it was what he had to do to keep on going until he could make a success of his company. It's why people come from all over the world to the U.S. because it really is possible to live the American Dream with a whole lot of hard work. But it wasn't the life Max wanted to live over the long run. (2:55) Gradually, over time, he came to see how he could gain a better work/life balance by running his business through lifestyle design. He lays out eight concepts of lifestyle design, starting with reading two inspirational and highly recommended books on business: The 4-Hour Workweek, by Tim Ferriss, and The World is Flat: A Brief History of the Twenty-First Century, by the noted economist Thomas Friedmann. One lesson he learned from the books was how to work virtually, in collaboration with professionals with unique talents from all over the world. His first and most valuable remote collaborator was a woman from the Philippines who, like Max, regularly turned in 70-hour workweeks. She worked closely with Max for two years and helped him grow his company. The MHP Broker now rents office space in Bangalore, India, and employs a staff of eight there to handle project management, research, property management, accounting, HR, calendar management and other responsibilities that don't require a physical presence. (3:53) The number two tip for achieving better work/life balance and lifestyle design in work is regular planning. Max and his wife, Kathryn, hold quarterly and annual meetings. The key is to not just plan business activities long-range, but to figure out how to become a better person, as well. (5:21) The number three concept is to treat your employees fairly and better structure your expectations of them. You can do this by expecting them to specialize in one to three areas. In this way, they won't feel lost or intimidated, and you can expect to see winning results because they're well trained, comfortable with their responsibilities and confident that they know what they're doing. (6:27) The number four tip is to always have training manuals. When you put policies, procedures and expectations in writing, fewer mistakes are made. Max's company currently uses the digital work management platform Asana in this regard. Everyone knows and can use the program and the content stored there. (8:00) Tip five is to stay flexible and keep your mind open for new and better ways of doing business. Read, listen and discuss. Don't ever think you know it all, no matter how long you've been in business or your position of power. (8:48) Tip number six: eat right and stay active. Max and Kathryn hold walking meetings. And they (usually) try to eat nutritiously. Diet and exercise add to the "life" aspect of work/like balance. (9:34) The number seven tip to lifestyle design in life and business is to be good to yourself. Earlier in his career, Max was extremely hard on himself, and that would cause periodic burnout. He took to writing in a journal, exercising and even seeing a therapist to learn how to be less self-critical and improve the quality of his life. (11:30) Max's last tip is to refrain from always comparing yourself to the competition and other super-successful people. You'll always feel like you suffer in comparison. Work instead on becoming a better you. That's more productive and a better way to live your life. (12:50) Reach out to Max if you'd like to hear more about lifestyle design as a better way of running your business and your life. Just drop Max a line at [email protected] or give him a call at 678-932-0200. Power Quotes on This Episode: "…the fundamentals (of your business) need to be about as boring as watching a snail cross the road." (0:58) "I think I made $3,500 on my very first deal and the credit card debt was close to $30,000 even with the three jobs I

In this episode of The MHP Broker's Tips and Tricks podcast, the husband and wife team of Max and Kathryn Baker explain how they make the most of running a business while not neglecting to nurture a relationship. Max and Kathryn are the married co-owners of The MHP Broker. This and all of the Tips and Tricks podcast episodes are brought to you by their proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through MHP Broker. Guaranteed. Ask Max for details. Here Are Show Highlights: Both read The Daily Stoic: 366 Meditations on Wisdom, Perseverance, and the Art of Living, a daily devotional book of stoic philosophy by Ryan Holiday and Stephen Hanselman. Words to live by in the Baker household and business offices. (Kathryn, 0:36) The philosophical and inspirational book has taught Max how to be more grounded and to be a better leader, and both have learned to be more grateful for their accomplishments. (Max, 2:06) They've also learned how to stay in touch with what's going on in the lives of their team members through The Daily Stoic. This is a skill that's imperative especially to a virtual company such as theirs, with everyone working remotely. So they're not often face to face. (Kathryn, 3:10) The Bakers operated their company virtually even before the pandemic. It wasn't always easy. The second thing they learned, how to let each other create their own lanes, let them work as a duo, neither reporting to the other but maintaining their own sets of responsibilities. (Max, 3:41) Kathryn felt that their first year together in business was the worst. Max was already involved with his company, and Kathryn felt he had a tendency to give orders to her just like he did to everyone else. Once they learned the magic of staying in their own lanes, they could coexist as equals. (Kathryn, 4:52) Max had to learn to be a better communicator. Once he'd mastered that, it made their work life and personal lives both work better. (Max, 6:02) Max credits a client friend and his wife, successful California business owners, for teaching them the importance of staying in their own lanes and not constantly looking over each other's shoulder. (Max, 6:58) The third tip is to have a weekly high-level breakfast or lunch meeting. The Bakers both look forward to this combination of social, business and relationship catch-up. They start giving agenda topics to their assistant all week long, so they have specific high-level topics to discuss at their meetings. (Max, 7:33) Before adopting the weekly meeting strategy, business discussions might intrude on their most personal moments. Since their meetings, there's much less work time breaking into personal time. (Kathryn, 8:41) Tip number four is to have date nights. It's something they carefully plan now. (Max, 10:44) "Daydreaming" is an allowable form of after hours work talk. That's a matter of looking at the big picture elements of work, their future goals and dreams, a conversation topic that's pleasurable for both of them. (Kathryn, 11:59) Advice that works for Max (but not Kathryn) is to read The Superior Man for guidance on how to become a better man and better in a relationship. (Max, 12:33) The Bakers use quarterly and annual meetings of just the two of them to set long-range and big picture planning, and to review the outcome of big picture plans they made earlier. (Max, 13:40) As a component of this, they have a meeting early each year to plan out that whole year and put it all on a calendar. (Kathryn, 15:25) Useful tip number seven for running a successful couples business is to "listen, don't talk." Max learned the importance of this skill as a sales guy, interacting with clients. (Max, 17:47) The last piece of advice for couples running a business is to take long walks together and use the time to communicate. It's also great exercise and stress relief! (Max, 18:16) Working with your spouse isn't for everyone, but it works for the Bakers--once they took that challenging first year to figure out how to do it right. (Kathryn, 20:47) Reach out to Max and Kathryn if you're trying to run a business with a spouse or loved one. Both Bakers have been there, and have advice to offer. Just drop the a line at [email protected] or give them a call at 678-932-0200. Power Quotes on This Episode: "(The Daily Stoic) lets you stay grounded and less ego-centered, less emotional…" (Max, 2:06) "...as a company that's virtual and has been virtual, even before the pandemic, we have really excelled in our culture here at the firm and do pretty well with it." (Max, 3:41) "The first year that we worked together was the hardest because that was where we really learned that we had to create our own lanes."(Kathryn, 4:52) "...in the beginning, you're just going to be emotional and upset with one another Frustrated. We went through all of that." (Max, 6:02) "...who can be upset when they're havin

In this brief Closing Cocktail episode of The MHP Broker's Tips and Tricks podcast, Max Baker interviews MHP broker Ryan Ramseur on his recent close on FL 46-pad Mobile Home Park, an RV community between Tampa and Gainesville on Florida's popular Gulf Coast. Max is the co-founder of The MHP Broker. This and all of the Tips and Tricks podcast episodes are brought to you by our proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through us. Guaranteed. Ask us for details. Here Are Show Highlights: Congratulations on Ryan's very recently close on FL 46-pad Mobile Home Park, a small- to medium-size RV park on Florida's Gulf Coast. (Max, 0:22) Ryan got the listing on a cold call to the park owner. The offer came in two days before the park was scheduled to be marketed by Ryan. The seller wanted to take the full price offer, with great terms, from someone he was already working with on another deal. (Ryan, 1:11) The park had a good mix of park-owned and tenant-owned homes, 90 percent occupancy and all public utilities. Rents are below market in a very beautiful area with manatee (and tourist) sightings. (Ryan, 1:11) Transactions that go that smoothly are rare, especially with small to medium mom-and-pop parks. Typically, the company doesn't prefer parks to sell until they've done the marketing so the actual value can be established, but this happened organically. The seller was already doing business with this buyer, so it went quickly. (Max, 2:16) The way this deal came together illustrated the importance of buyers reaching out and staying in touch with brokers like Ryan if they're looking for deals, because those deals can move very quickly. (Max, 2:16) Don't send an email because all of the MHP brokers get hundreds of them daily. Instead, phone or text. Come with proof of funding, show your real estate investment portfolio and the financing you have lined up. (Max, 3:26) The only real challenge was that this deal was tied to another deal Ryan wasn't involved in. That was kind of a unique situation. The park was offered at an 8.3 cap. They had recently sold another RV park nearby for a 6.5 cap, so they knew the price was right. (Ryan, 4:12) Ryan's got a ton of other deals going on in Florida. The market there is extremely hot for RV and mobile home communities, so you have to contact him by phone at (678) 932-0200 if you're looking to make a deal. (Max, 5:19) Call Ryan or Max if you'd like to make a deal on hot-selling RV or mobile home communities in Florida or elsewhere in the southeast U.S. Call us up or text us at (678) 932-0200. Power Quotes on This Episode: "They were below market rates…definitely a value-add potential for any new owner coming in." (Ryan, 1:11) "Things went very smoothly from start to finish, and quite frankly I wish they were all like that." (Ryan, 1:11) "The seller said, 'Hey, this guy is interested, and he's buying something else from us.'" (Max, 1:11) "The fastest way to get to the back of the line when it comes to brokering deals as a buyer is not coming to the table with all your stuff (proof of financing and past real estate investment action) lined up." (Max, 3:26) "I would have loved to have seen it on the market." (Ryan, 4:12) "At the end of the day, the seller was happy." (Ryan, 5:13)

In this brief episode of The MHP Broker's Tips and Tricks podcast, Max Baker explains the meaning behind the star system used to describe the layout and condition of mobile home parks. Max is the co-founder of The MHP Broker. This and all of the Tips and Tricks podcast episodes are brought to you by our proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through us. Guaranteed. Ask us for details. Here Are Show Highlights: Mobile home parks are given one to five stars to rate them qualitatively. ( 00:48) A park with a one-star rating is in the poorest condition. There are likely to have older homes in bad shape and dirt roads (mis)managed by the park owner. On occasion, you'll see dirt roads that look to be in pretty good shape, but they're often owned and managed by the local community. Often, these one-star parks are out in the country or around very small towns. (01 :19) Two-star communities are a step up. You might have gravel roads and newer homes, maybe from the 1980s and 90s era. The curb appeal is a little better than a park that gets a one-star rating. What I think of as a "high two" rating is one in which the water and sewer situation is slightly better than a "low two" park. You might also see less clutter in the yards, so the aesthetics are slightly better. Two-star communities aren't usually found outside of larger cities, though they're worth more if they are. They're usually around mid-size cities. (2:30) Three-star communities are what we typically see and sell. The homes are newer and in better shape, the roads are paved and the water/sewer situation might be well and septic or city water and sewer lagoons. That's better than the water/sewer infrastructure in one- or two-star parks. (3:21) Four-star communities are similar to the threes, but they have such amenities as playgrounds or a pool. These amenities might be a little tired-looking, but they add more appeal to a community. (3:59) I've only had an opportunity to sell maybe six five-star parks in my career. They don't come on the market very often. They have very nice amenities, and the setting looks more like the grounds of a class A apartment complex. Many of these five-star communities are now owned by REITs, and aren't likely to go on the market anytime soon. (4:28) Call Max if you'd like our frank estimate of how many stars your own mobile home park community rates. Just drop us a line at [email protected] or give Maxwell Baker a call at 678-932-0200. Power Quotes on This Episode: "You don't really see (one-star parks) too much anymore because there's a lot of investment coming in to the industry." (1:19) "Those two-stars can make a lot of money, depending on where they are." (2:30) "This is our bread and butter." (three-star communities) (3:21) "They have amenities." (four-star communities) (3:59) "These five-stars have the amenities, just like the fours, but they're super duper nice…excellent curb appeal." (4:28)

In this brief Closing Cocktail episode of The MHP Broker's Tips and Tricks, we chatted with superstar MHP broker Paul Schaaf about his experience selling SC 7-Pad Mobile Home Park in Greenville, South Carolina. As always, this episode is hosted by Maxwell Baker, the co-founder of The MHP Broker, and brought to you by our proprietary Community Price Maximizer. Use our four-step system through which we'll help you sell your mobile home park or RV community and guarantee you a higher price. Ask us for details. Here Are Show Highlights: The MHP Broker's Paul Schaaf recently closed on SC 7-Pad Mobile Home Park, a mobile home park in Greenville, SC. (Max, 00:22) Paul had an existing relationship with the ownership group, having both bought and sold properties for them in the past, so they called him when they wanted to deal. (Paul, 00:59) Paul's clear understanding of the seller and the transparency shared with him about the park made it easier for him to find a buyer and transact a sale. (Paul, 1:59) There was one challenge that could have been more of an obstacle if Paul didn't have the respect of both parties. A park-owned home was in bad shape that had to be rehabbed before the sale. The work wasn't able to be undertaken by the time of the buyer's on-site tour due to COVID complications, but it was completed afterwards. Paul was able to send photos of the work, and that was enough for the buyer since they'd obviously grown to trust him. Other than that, everything went smoothly. (Paul, 2:21) It was an off-market deal. That's only about 15 percent of The MHP Broker's deals, but it's becoming more of a trend in the market today. (Max, 3:10) SC 7-Pad Mobile Home Park represents a good example of how quick and easy an off-market deal can when brokers know what they're doing and have earned a position of trust. Let us help you sell your park, whether off-market or on. Just drop us a line at [email protected] or give Maxwell Baker a call at 678-932-0200. Power Quotes on This Episode: (Regarding working within an established business relationship) "We knew each other and trusted each other right away. And we were able to pretty much find the right buyer, because we understood the ins and outs of the seller, and how they've improved the park, understood their books and records, and could paint a clear and sound picture for the buying party." (Paul, 1:54) (On completing rehab of a home and getting sign-off without the buyer actually seeing the work.) "...we have gained a level of trust with the buy side and the sell side that, hey, these are the pictures the job (that) has been completed and everyone signed off on it. So it was that level of agreement that we were able to surpass that hurdle of a home that needed work." (Paul, 2:21) "I'd say 15% of what we normally do is off market. But as the market is changing, y'all,we've obviously got to adapt, so we're seeing a lot more off-market opportunities." (Max, 3:10)

In this brief "two-fer" Closing Cocktail episode of The MHP Broker's Tips and Tricks, we discussed two recent deals spearheaded by MHP Broker Eric Wanck. Both communities are in Georgia. We'll first go into the 60-Pad Mobile Home Park deal and then discuss GA 85-Pad Mobile Home Park As always, this episode is hosted by Maxwell Baker, the co-founder of The MHP Broker, and brought to you by our proprietary Community Price Maximizer. Use our four-step system through which we'll help you sell your mobile home park or RV community and guarantee you a higher price. Ask us for details. Here Are Show Highlights: Eric stayed in touch with the owner of GA 60-Pad Mobile Home Park, in South Georgia, for a good six or seven months before his patience paid off and the park owner decided to list it with him. (Eric, 0:51) Eric was ready. He had a buyer lined up, someone he'd been talking to for awhile, and the owner had a good offer quickly put in front of him. (Eric, 1:30) 60-Pad Mobile Home Park came to Eric's attention as a company lead through MHP Broker's ongoing marketing campaign. It was a tidy park, with some new homes on a large footprint. Probably the nicest park in that town. Eric made that point to the buyer, and expressed that 60-Pad Mobile Home Park. would quickly find a buyer, if not him. The sale closed successfully. (Eric, 2:17) GA 85-Pad Mobile Home Park, Eric's other recent deal, is a very popular RV community in North Atlanta with a nine month waiting list for tenants. This seller also came to Eric's attention via a company lead. The seller already had an offer and wanted Eric to consult on the price. Eric toured the park and loved it. Wesley Oaks was in a very hot market and Eric helped his client set a fair and very competitive price. (Eric, 3:16) It came in at a very competitive 7 CAP. (Max, 4:00) The lesson of the hot market for Eric is that prospective buyers really have to stay in touch with brokers because so many properties get sold about as quickly as they get listed. Those who want to invest in this housing should get back to their brokers within about 24 hours if the broker presents an offer. Both of these recent deals are examples of how quickly good properties turn (Eric, 4:33) Related to that last point, buyers need to make sure they're ready to go if they do find a park that interests them. That means already having a lender relationship, cash lined up, and maybe a template contract that can at least serve as a starting point. (Eric, 6:10) 60-Pad Mobile Home Park and GA 85-Pad Mobile Home Park are two vibrant examples of how hot the market is at this time, especially in Georgia, for manufactured housing communities. Call us. Let us help you sell your park for the most competitive price possible. Just drop us a line at [email protected] or give Maxwell Baker a call at 678-932-0200. Power Quotes on This Episode: "I always take the approach that I'm never a salesy guy. I'm here throughout the entire process to hold your hand, answer questions. But the last thing that I think most (park owners) want to hear is the guy breathing down your throat every seven days, 'Hey, when are you going to list? When are you going to list, when can we sell?'" (Eric, 1:30) "I had some great folks that I've worked with before I knew they were in this market. They were looking for parks, they have cash on hand, you know, we're able to put a contract in front of them within 48 hours." (Eric, 1:30) "I really think that (60-Pad Mobile Home Park ) was probably the nicest park in town. Very well laid out, a lot of acreage, some newer homes were brought into the park. And that was just my Selling point to the buyer. I said, 'If you don't want to buy this, there's going to be three More that probably are willing to step in and take this as well.'" (Eric, 2:17) "This one (GA 85-Pad Mobile Home Park) is a nice little trophy deal." (Eric, 2:55) "I saw the park, met with him and it really impressed me as not only a great location in North Atlanta, but that this was an RV park that had an eight to nine-month waiting list." (Eric, 3:16) "No problems with appraisals. Very clean deal, which I like." (Eric, 4:05) "North Atlanta is a very hot market." (Max, 4:17) "I think the market kind of dictates how quick sometimes you got to move." (Eric, 4:33) "As long as you're staying in front of me, ask me, 'Hey, what's new on the radar?' Because deals cross my desk, they never make it to market. Sometimes there are off- market deals, such as the ones that we're discussing and it really is timing being your best friend. Sometimes I had a deal across my desk on a Monday and you just happen to call me on a Tuesday. And hey, you're going to get an opportunity to hear about that." (Eric, 5:34) ( Paul, 1:54) (On completing rehab of a home and getting sign-off without the buyer actually seeing the work.) "...we have gained a level of trust with the buy-side and the sell side that, hey, these are the pictures the job (that) has been comple

MHP Podcast Matt Cohen Interview for Gama Sonic In this episode of The MHP Broker's Tips and Tricks, we chat with Matt Cohen of Tel Aviv, Israel-based Gama Sonic Solar Lighting. The company produces top quality outdoor solar lighting solutions for mobile home parks and RV communities. As always, this episode is hosted by Maxwell Baker, the co-founder of The MHP Broker, and brought to you by our proprietary Community Price Maximizer. Use our four-step system through which we'll help you navigate, and guarantee you a higher price when you sell your mobile home or RV community. Here Are Show Highlights: Matt Cohen has been with Gama Sonic USA as Director of Commercial Sales since 2013. (1:13) The company's commercial grade solar lights are installed in parks and communities all over the country (3:18) The lights are manufactured with powder-coated cast aluminum mano crystaline solar panels integrated with tempered glass, and have lithium ion rechargeable batteries and SME LEDs. (3:18) All components except batteries come with five-year warranties and ten-year lifespans. The poles on which the lighting is mounted will last indefinitely. (4:00) The three-year replacement batteries cost $25. (4:39) The lights are typically used in parks and communities as streetlights and entrance and signage lighting, and have great attributes for brightness and aesthetics. (5:03) The lighting is installed into small concrete pad There's no wiring, no digging, no trenching or electrical work. The customer needs only to pour the concrete pads into which the pole is installed. (5:56) The solar-powered lights radiate from dusk to dawn. The batteries help the lights hold a charge even after four or five straight nights following sunless days. (6:36) The lighting costs between $300 and $900 for the lights and $175 to about $385 for the poles. (7:18) Shipping is free from Atlanta to anywhere in the Continental USA. (9:40) For more information and to place orders, contact Matt Cohen of Gama Sonic USA at 727-688-5030. He can also be reached at [email protected]. (9:55) Orders can also be placed at the company website, but listeners will get a special discount by contacting Matt direct by phone or email. (10:27) Max highly recommends outdoor park and community lighting from Gama Sonic Solar Lighting. To find our how to contact Matt Cohen at Gama Sonic USA, just drop us a line at [email protected] or give me a call at 678-932-0200. Power Quotes on This Episode From Guest Matt Cohen of Gama Sonic USA: "Every year our engineers are creating, developing and manufacturing new lights after listening to what customers want and need." (1:13) "They're high quality products, not the cheap products that you buy in bulk at some of these discount stores and things like that. These are the long-lasting five-year warranty solar lights that people are loving and continuously buying more of." (3:18) "The LEDs, the photo cells, the solar panels, they have a lifespan of ten years, after whichtime you'll need to replace the head of the light, but the poles themselves will last indefinitely."(4:00) "They come on automatically, even in the winter months, when you have 14 hours of darkness." (6:36) "The higher up you go, the wider (but dimmer) the spread of light." (8:18) "If they contact me directly, I'm going to be able to work with them and give them better pricing than they'll be able to find on our website." (10:27)

In this brief Closing Cocktail episode of The MHP Broker's Tips and Tricks, we chatted with MHP broker Paul Schaaf and what he did to close on SC 77-Pad Mobile Home Park, a sweet park in South Carolina. As always, this episode is hosted by Maxwell Baker, the co-founder of The MHP Broker, and brought to you by our proprietary Community Price Maximizer. Use our four-step system through which we'll help you navigate, and guarantee you a higher price when you sell your mobile home park or RV community. Here Are Show Highlights: Paul recently closed on SC 77-Pad Mobile Home Park, a nice little "value-add" mobile home park in growing Hartsville, South Carolina before it even hit the market. (Max, 0:22) The owner had been in possession of the park for 20 years, She was reluctant to sell, but she knew it was time. (Paul, 1:23) A prime selling point was that there were all public utilities, and all billed back to the tenants. It was also in an Opportunity Zone, a major tax advantage. (Paul, 1:23) The value-add was due to the fact that the current owner was only operating at about one-third of pad capacity. A new owner could end up with a total of some 80 pads. (Paul, 1:23) The owner needed help with her Section Eight and tax situation. (Paul, 1:23) That's always a challenge in high-tax South Carolina. (Max, 2:31) Paul was able to help both buyer and seller successfully navigate the multiple tax challenges to the point where the seller was happy and Paul thinks the new owner will list the park with MHP when the time comes to sell. Despite its rather tricky tax situation, SC 77-Pad Mobile Home Park was a successful close. Let us help you sell your park. Just drop us a line at [email protected] or give me a call at 678-932-0200. Power Quotes on This Episode: "It was definitely a fun business transaction." (Paul, 1:23) "The owner was just a delight to work with." (Paul, 1:23) "We were able to get a very good price for this deal for the seller. The buyer had to navigate the tax variables. They're going to increase occupancy and I'm assuming they'll probably end up letting us list it for them exclusively on the back end, because it helped him out with the taxes." (Max, 2:44)

In this episode of The MHP Broker's Tips and Tricks, we define stoicism and explain six ways its practice can yield benefits for the buyers, sellers, operators and brokers of mobile home and RV communities. As always, this episode is hosted by Maxwell Baker, the co-founder of The MHP Broker, and brought to you by our proprietary Community Price Maximizer. Just use this four-step system which we'll help you navigate, and we'll guarantee you a higher price when you sell your mobile home or RV community. Here Are Some Show Highlights: Stoicism in business is a philosophy and a strategy for reacting to events and proactively taking action to gain benefits in multiple ways. (0:43) Stoicism can be best understood in terms of the advantages it brings in these six areas. (1:48) It calms the monkey brain. This is when emotions run high and a business person is distracted and loses the ability to focus in on one area. This high-energy overthinking will keep you off balance and unable to make progress in any one area. Max found that the practice of stoicism made him more centered and productive. He recommends "Getting Things Done" by David Allen as a great reference to help lead readers to greater focus and organization. (2:16) The second advantage through stoicism is the ability to accept failure as a cost of taking action. Max has learned to think of failure by himsef or anyone in his organization as a valuable learning experience and the occasional by-product of moving forward. If the stoic brain can get over the fear of failure, the business person can take calculated risks with significant upside. Don't fear that "awkward feeling in your gut" when you make a move. (4:09) Max's third stoic advantage can be gained by controlling the ego. An unchecked ego leads to another source of fear, because it can make someone back off from taking action for worry that they'll look bad in the eyes of others if they fail. Ego can also lead to over-confidence and the cocky belief that the individual knows all they need to know on a subject. It can alienate you from clients and your own people. Stay humble, Max advises. (6:49) The fourth stoicism advantage is the ability to stay focuses on growth instead of "more." Growth-mindedness is a focus on organic accomplishment rather than constantly targeting consumption. By maintaining his own focus of steady and well-rounded growth and achievement rather than "the money thing," Max has always felt able to make sure his people shared in the success of the company, leading to more joy in his own life. (8:38) Max's fifth platform of success through stoicism in business is simply gratefulness. This is a matter of taking the time and brain space to be appreciative for what you've accomplished rather than always chasing more, more, more. Max has learned gratefulness, in part, by reading (and highly recommending) "The Daily Stoic" by Ryan Alexander. Gratefulness makes business people more pleasant and authentic, and others want to deal with those who have those traits. (10:43) The final advantage or platform in stoic thinking for Max is a strategic short-term memory. Yes, you want to remember the lessons in failure, but then let the past be the past. Too much concentration on your business failures or personal shortcomings can leave you paralyzed and unable to move forward for fear of repeating those past mistakes. Max learned to keep his focus more on the here and now. This gives him the courage to pursue deals that he might have misplayed at some point in the past. (12:04) Max thinks that stoicism in business in general and the mobile home business in particular is a fascinating topic. He'd love to talk about it with you. "Just drop us a line at [email protected] or give me a call at 678-932-0200." Power Quotes From Max on This Episode "Monkey brain will kill your productivity and energy." (2:16) "Stoicism has really helped me stay in the moment." (3:14) "You've got to have that awkward feeling in your gut." (4:09) "Failure is just a speed bump to your success in the future." (5:20) "Ego kills your momentum when it comes to investing…" (6:49) "Does getting a bigger company and more cash and more assets make me happier? Actually, it doesn't." (8:38) "...I really feel that stoicism helped me with that, and I focused more on the growth factor than the money thing." (9:45)

In this brief Closing Cocktails episode of The MHP Broker's Tips and Tricks, Max discussed with MHP broker Eric Wanck the inside story on two recent deals Eric handled: PA 37-Pad Mobile Home Park, and GA 34-Pad Mobile Home Park. As always, this episode is hosted by Maxwell Baker, the co-founder of The MHP Broker, and brought to you by our proprietary Community Price Maximizer. Use our four-step system through which we'll help you navigate, and guarantee you a higher price when you sell your mobile home park or RV community. Here Are Show Highlights: Eric actually found a buyer and got the park under contract even before Lillibridge was even listed. (Max, 1:24) Eric was talking with a PA investor he'd worked with before, and he felt that PA 37-Pad Mobile Home Park, which was still a week or two away from being listed, would be an ideal fit. (Eric, 1:35) The park sold for very close to the asking price, within around $10,000. (Eric, 2:37) PA 37-Pad Mobile Home Park is a very clean park, probably the nicest park in that small town. Paved roads, city water and sewer, mostly tenant-owned homes. (Eric, 2:47) It helped that they were able to get a PA banker who had worked with and understood the asset class, which is relatively rare. (Eric, 3:14) The one snag was that the appraiser completely ignored the five or six park-owned homes on the site, so the appraisal came in lower than expected, But Eric was able to work it out with the buyer and seller, to everyone's satisfaction. (Eric, 3:14) The 37-pad park sold at an 8.9 CAP rate. (Max, 4:13) GA 34-Pad Mobile Home Park was also brokered by Eric. It was an off-market deal with a lot of value-add upside. (Max, 5:23) Eric had been in contact with ownership for a year and a half, looking for a sale. Finally, the owner was ready. The property was in challenging condition, but Eric had a buyer lined up who saw the potential. (5:41) It was a strong all-cash buyer, a definite advantage to the seller. (Eric, 6:45) GA 34-Pad Mobile Home Park has city water and a septic system with no issues in due diligence. (Eric, 7:20) The park has 34 pads and went for a CAP rate of 8.8. Two very different deals in two states, and two satisfied sets of buyers and sellers. Let us help you sell your park. Just drop us a line at [email protected] or give me a call at 678-932-0200. Power Quotes on These Episodes: "(PA 37-Pad Mobile Home Park) just happened to be a great offer, one that the seller obviously agreed to. And we were able to put it in under contract before we took this to market. (Eric, 1:35) "Very nice, clean community, even though it was a smaller town, certainly one of the nicest parks, if not the nicest park in town. Paved roads, majority tenant- owned homes, city water and sewer." (Eric, 2:47) "We had a…Pennsylvania lender, very familiar with this asset class, and that always helps tremendously." (Eric, 3:14) "So (GA 34-Pad Mobile Home Park) is one of these parks that you might want to take someone with you when you go through it for the first time. But you know, just a lot of value add, though. And that's what a lot of folks are looking for these days." (Eric, 5:41) "(Cash is) what sellers are looking for. 'If you've got a strong cash buyer, bring them to me and we can talk.'" (Eric, 6:45)

In this episode of The MHP Broker's Tips and Tricks, we outline the multiple risks in selling your mobile home or RV community through a broker who represents buyers. Maxwell Baker explains the drawbacks for sellers in terms of fewer prospects, weaker or missed due diligence and a broker working for the buyer－not for you. As always, this episode is narrated by Max, co-founder of The MHP Broker, and brought to you by our proprietary Community Price Maximizer. Use our four-step system, and we guarantee you a higher price when you sell your mobile home or RV community. Here Are Some Show Highlights: Buyers and brokers have a lot of good reasons to want to sell you park off-market, but those reasons solely benefit them, not the seller. (1:36) When you only have one buyer for your property, and no backup buyer, you have little leverage for negotiation. (1:36) Brokers in off-market deals aren't as motivated to do appropriate market research and due diligence. (1:53) Those off-market brokers are likely to have a relatively small network of buyers they've worked with in the past, and that's all who'll see or know about your property. (2:15) These brokers will be paid by the buyer, so that's naturally where their loyalty is. (2:15) The buyers want to be in a position of power, the only ones looking at your property. (3:37) If you come to Max at that point to help close the sale, he's at a disadvantage becaue he doesn't have backup buyer and the groundwork's already been laid in favor of the prospective buyer. (3:37) Such off-market dealings can also lead to crappy contract-to-close ratios, with an unhealthy amount of deals falling through because of weak or non-existent due diligence. (5:14) The contract-to-close ratio at The Mobile Home Park Broker is in the upper 80% range, much higher than community owners are likely to get in an off-market deal. (6:38) About 90% of The MHP Broker deals are exclusive listings, because that give more power to the seller and usually leads to a much better deal. (7:25) Max's company also offers the advantage of seller-friendly contracts. He's seen off-market contracts that are 30 pages long, and put the buyer in control and leave sellers scratching their heads. (7:56) Want to learn more about the multiple advantages of becoming an exclusive listing of The Mobile Home Park Broker? Want to find out more about why you're better of steering clear of off-market brokers? Just drop us a line at [email protected] or give me a call at 678-932-0200. Power Quotes From Max on This Episode (Off-market deals are)…"just a higher probability for them and not (for) you as a seller." (1:37) "...these brokers are getting paid by the buyer..and you're going to be negotiating uphill." (2:15) "Brokers rarely do as much research or due diligence as they do when they exclusively list a property for sale, because it's a lot easier to just slam a deal together and make a bunch of money." (2:15) "...you don't have somebody who's hustling continuously to find you another buyer in case this guy blows out." (3:37) "...anytime you try and sell your community off market, there's going to be a higher probability of it falling out of contract." (5:14) "There's just a zillion things when it comes to selling your community that we have to take into consideration." (5:14) "The way we've built this company is very methodical; we're very like step by step. We have checks and balances all across the board and our close ratio is up in the upper 80s for exclusive listing once we put it under contract." (9:07)

This episode of The MHP Broker's Tips and Tricks podcast is short, but oh-so-sweet. It serves as an introduction to our critically important State of the Industry Report video link. You can get the link by simply submitting your profile to the MHP Broker website here. (link to web page to submit profile and get access?) This episode is narrated by Max, co-founder of The MHP Broker, and brought to you by our proprietary Community Price Maximizer. Use our custom four-step system, and we guarantee you a higher price when you sell your mobile home park or RV community exclusively with us. Here Are Some Show Highlights: The report examines data from five southeast U.S. states: Alabama, Florida, Georgia, North Carolina and South Carolina. (0:22) Users will gain valuable insight on such industry marketing factors as rent comps, sales comps, political status and other other investment-driven decision items for those considering investing in the mobile home park and RV community market. (0:22) Rent comps enable investors to see if they can get higher rent prices when they take possession. (1:36) Sales comps let investors see where the market is in a particular state and region, what average pad prices are on a local level, and which buyers are active. (1:36) The government data warns of restrictive local ordinances that affect mobile home communities, and future laws and regulations under consideration. (3:19) It's easy to access this valuable marketing data. Simply click this link(include link?) and sign up by filling out and submitting your profile. Then use The Mobile Home Park Broker State of the Industry Report video as it best serves your mobile home and RV community investment needs. Any more questions? Just drop us a line at [email protected] or give me a call at 678-932-0200. Power Quotes From Max on This Episode "This is an experiment. So we are always welcoming critical feedback so we can get better and help make you guys more educated as far as being able to invest in a state that you may not live in, or thinking about moving to or investing to or whatever it may be." (1:36) "...we're putting all this kind of data…into a one-pager, there's going to be a link in a video so that y'all can scroll down and click on what state you want to look at and sign up for our profile to create a profile before you come in." (3:19)

MHP Podcast Episode 8: Interview with MHP Broker Craig Nielson Mobile Home Park Broker associate Scott Nielson is a Texas-based broker who joined Maxwell Baker to discuss the very successful marketing strategy and sale of Branching Pines Mobile Home Park in southern Alabama. Branching Pines is a rather unique community in that it has both mobile home park and RV tenants and the ability to grow the community in either direction -- or both. Scott found the ideal buyers for this hybrid park in a pair of brothers who were equally interested in both market segments. It was an all-cash sale completed right on schedule, in just 60 days, despite the challenge of the industry's slow-down on the scheduling of appraisers. This episode reveals how the various obstacles were met and a sale was completed to the satisfaction of both seller and buyer through processes long-established at The Mobile Home Park Broker. Here Are The Show Highlights: Branching Pines had the ability to attract buyers with a focus on mobile home parks, RV communities or "combo deals" of both market segments. (1:21) While the hybrid nature of the community (both mobile home park and RV tenants) would have intimidated or turned off many buyers, Scott was able to find two brothers who were highly motivated to buy into both segments. (1:21) Appraisers in the industry are currently backed up for several weeks, slowing down the closing process considerably. But because of relationships established by The MHP Broker, Scott was able to book his appraisal for Branching Pines much sooner. (3:22) Also on the basis of long established MHP Broker relationships, Scott was able to help the buyers get swift financing on the deal. (3:22) The buyers and sellers were both so satisfied with the transaction that both parties are currently working with Scott on additional deals. (10:11) Max and his team were especially proud of the opportunity they had to donate some of the proceeds from the sale to Comfort Farms and other organizations in support of U.S. military vets and mobile home park community tenants in need. (10:28) Want to know more about the MH Broker approach to successful mobile home park and RV community sales? Drop me a line at [email protected] or give me a call at 678-932-0200. Power Quotes: "Our marketing material is so detailed and so well put together that it leaves very little for the buyer to imagine."(Nielson, 1:21) (On doing proper due diligence) "Problems don't kill deals; surprises do."(Baker, 3:22) "Impeccable front end due diligence will always help you close the deal on the back end." (Baker, 3:22) "Ultimately, we got the right buyer at the right time." (Nielson, 10:11)

MHP Podcast Levi Parham Interview Episode In this episode, we interview mobile home broker and used mobile home expert Levi Parham. We talked about market trends for used mobile homes and the benefits of such purchases to mobile home park owners. Then we touched on what's happening in the industry of mobile home movers. As always, this episode is hosted by Maxwell Baker, co-founder of The Mobile Home Park Broker, and brought to you by our proprietary Community Price Maximizer. With our system, we at MHP Broker guarantee you a higher price when you later sell your mobile home or RV community. Here Are Some Show Highlights: Max introduced Levi Parham, a broker partner who specializes in wholesaling individual used mobile homes predominately to park owners. (Max, 0:22) The market for used mobile homes is incredibly hot as a trickle-down to the skyrocketing costs of buying residential homes and the time and cost in getting new construction mobile homes. (Levi: 2:26) To illustrate how costs for used mobile homes have risen in a very short period: About two years ago Levi sold a 2000-era five bedroom, three bath double-wide in move-in condition to a community in Dallas, Georgia for $25,000. About six months ago he sold an inferior, 1996 three bedroom, two bath single-wide located just 30 minutes from the Dallas GA park for $27,000. (Levi, 3:35) Fifteen-year-old mobile homes in move-in condition simply aren't available anymore. (Levi, 4:13) Park owners must be willing to pay the market's higher price since their empty $300 pads earn them nothing for every month they're unoccupied. (Max, 4:59) Even if the park owner must spend $15,000 for a typical used mobile home, and then spend an additional $5,000 to move it and $2,000 on minor repairs, it can be a profitable venture based on the park's increased market value. (Levi, 5:42) Recently, two used mobile homes offered to park owners by Levi and rejected for cost issues were quickly picked up by members of the general public, proving there's a definite market at the higher price point. (Levi, 7:25) Levi has found there to be a great marketplace for used mobile homes advertised in Facebook, where his page gets 100,000 views a month. (Levi, 10:04) There's a huge opportunity for those who might want to enter the mobile home moving industry. Many existing firms are not operating on a professional basis. (Levi, 11:17) Entry in the moving industry can cost a half million dollars, but investment payback-plus can take as little as one to two years, though the major industry challenge is finding and keeping good workers. (Max, 13:23) Want to know more about the business of buying and selling used mobile homes? Contact Levi Parham by dropping him a line at [email protected] or through MHP Broker at our 678-932-0200 number. Power QuotesFrom Max and Levi Parham: "... if you went to a Clayton dealership today, you've got 12 to 18 months before you get a house. So, all the people then went to the used mobile home space." (Levi, 2:26) "...these higher quality houses that need very little repair, they're getting hard to come by." (Levi, 4:13) "...if a seller is looking to get a house removed from their property, how can you make that as easy as possible? So coming in being professional, truly having a piece of property that's already set up and zoned for a mobile home and all those things are in your favor, and you have that as a negotiating power." (Levi, 4:13) "But you have to understand that these $5,000, move in ready, 15-year-old houses justaren't available anymore." (Levi, 4:13) "Without homes inside your park, it is just a lot of dirt." (Levi, 17:50)

MHP Podcast Green Acres Deal Review with Eric Wanck In this episode, we check in with The Mobile Home Park Broker Eric Wanck and one of his most recent successes. Eric was the broker who sold Green Acres Mobile Home Park in the Atlanta metro. As always, this episode is hosted by Maxwell Baker, co-founder of The Mobile Home Park Broker, and brought to you by our proprietary Community Price Maximizer. With our four-step system, we guarantee you a higher price when you later sell your mobile home or RV community. Here Are Some Show Highlights: Eric has had a very successful year, including the sale of two or three parks in the last 30 days alone. (Max, 0:22) The highly desirable Green Acres MHP was one of Eric's most impressive recent sales. It's known as a "trophy park," one with more than 150 pads. In addition, the park contained mostly tenant-owned homes (TOH), which tend to be easier to sell. (Eric, 1:53) Eric had lined up five or six bids and had a buyer with a high 5 CAP bid in about 24 hours. (Eric, 1:53) Eric brought bidders, including the buyer, to the table from among investors he'd already established relationships with. The transaction reinforced the importance of sellers to connect with The MHP Broker on a regular basis so Eric remembers them when he comes across a deal he thinks would be ideal for them. (Eric, 3:39) One minor challenge for Eric was working with another broker as part of a connected land sale. Though representing the buyer, the broker was not experienced in the mobile home park industry, so wasn't able to take the lead in due diligence--which would normally be the responsibility of the buyer's broker. (Eric, 5:02) Eric and the company ended up with a happy seller and a buyer with whom they might do future business down the line. (Eric, 7:21) Want to learn more about the process we take at The Mobile Home Park Broker in successfully representing both buyers and sellers? Just drop me a line at [email protected] or give Eric or me a call at 678-932-0200. Power Quotes From Max and Eric Wanck on This Episode "...dude, you're killing it this year." (In recognizing Eric's results in 2021.)(Max, :22) "...within 24 hours we located a buyer at an amazing price." (Eric, 1:53) "...every 30 days, send me a text, send me an email, call, whatever it might be, and check in with me, because a lot of times it's timing and if I know that you're qualified, you have funds available, and I come across this lead today and you happen to call me tomorrow you're going to see it and I've put together a lot of deals where it really was a matter of timing with some of these buyers and sellers." (Eric, 3:39) "…we like to do business with people who like to do business with us." (Max, 4:29) "I think the fact that we're able to move quick, get it wrapped up and move into due diligence helped us get this deal done." (Eric, 5:02) "Whether we represent the buyer or seller, we're gonna get it done." (Eric, 5:02) "Telling your clients, the good, bad, the ugly, telling them if there's issues with the county, moving mobile homes into your park because of that, and not leaving that kind of stuff out, that's the type of long term relationship stuff that we do as a company for you, as the buyer and s" (Max, 6:55)

In this episode, we explain a deal that had its challenges from the first. It shows the value-add from getting the involvement of experienced brokers who've "seen it all" and can save even the most run-away deal. As always, this episode, hosted by Maxwell Baker and featuring MHP Broker's Eric Wanck, was brought to you by our proprietary Community Price Maximizer. With our system and our very experienced brokers like Eric, we'll guarantee you a higher price when you later sell your mobile home or RV community. Here Are The Show Highlights: Eric Wanck was recognized and congratulated for successfully selling three parks over the last 30 days. (Max, 0:22) One of those parks was a 90-pad mobile home park , a two-park side-by-side portfolio in Pennsylvania with a combined 104 pads. It was a deal that came with a "bit of hiccups," according to Max. (0:22) Both parks were on city utilities and water/sewer and sub-metered so tenants were responsible for payments, not the owner. And the homes were 90 percent tenant-owned homes (TOH), according to Eric. All of that was good news for a potential buyer, but the park was in decline, with old homes and management that had fallen behind in upkeep. That made the sale more challenging. Nonetheless, the location, the fact it included so many TOHs and other factors made it desirable for the right investor. (2:02) Eric had a couple different buyers on the deal, but one fell through during due diligence proceedings. This emphasized, for Eric, the reality that sometimes a park is on the market for awhile, but it doesn't mean the deal is troubled or the park can't be sold. He's gotten great response after a new marketing push for parks that have sat idle on the market for 90 days or longer. Sometimes "the time is right," and not before. (3:10) The seller brought a couple more homes into the community, sold one and kept the other as a rental during due diligence. That muddied the transaction terms mid-deal, but Eric got it sorted out. (5:33) Prospective buyers might spend a lot of money on various inspections and think they're stuck financially if they back out of the sale. But Max pointed out that his team can sometimes get that money back, so be sure to ask for their help. (6:43) Eric advised making sure both selling partners are on board during negotiations. He had a husband-wife team in one sale that seemed to be at odds and not communicating with one another. This could lead to "spinning your wheels" in trying to seal the deal. (7:57) Want to know more about The MHP Broker approach to buying and selling RV and mobile home park communities? Even the most challenging deals can lead to success for both parties. Just drop me a line at [email protected] or give me a call at 678-932-0200. Power Quotes From Max and Eric on Episode 10: "Our job is to prevent the deal from blowing up and there's always plenty of opportunities in all of these deals for it to blow up."(Max, 0:22) "There's a whole myriad of things that can go into what risk profile a buyer may have. We got a very good cap rate on this deal, a selling cap rate, low eights and that's good…considering the fact that these two parkswere distressed." (Eric, 2:02) "I tell sellers this all the time: sometimes that right buyer does not come through in the first 30 days. It may not be 60 days." (Eric, 3:10) "Having somebody ride shotgun on your journeywhen it comes to selling a community. (having a broker) that's sold well over 250 communities is going to make your life easier, the transition easier and ultimately get you more money in your pocket bookwhen you sell your mobile home community or RV community." (Max, 4:25) "If you're a buyer, and you are under contract, and you've got money spent on a survey and appraisal, a phase one, septic inspection, all these inspection reports that come out when you are buying a community and you blow out of it for who knows what reason, give us a call. We'll probably be able to place it and get you your money back on all of those third-party costs."(Max, 6:43)

MHP Podcast Episode 12: Dr. Becker Interview In this episode, we interview Dr. Charles Becker, a Duke University professor of economics and leading expert on the national economics of mobile homes and the mobile home park industry. As always, this episode is hosted by Maxwell Baker, co-founder of The Mobile Home Park Broker, and brought to you by our proprietary Community Price Maximizer. With our system, we at MHP Broker guarantee you a higher price when you later sell your mobile home or RV community. Here Are The Show Highlights: Duke University professor Charles Becker was introduced as a leading national mobile home park industry expert and author of academic articles on park evaluations, zoning and other factors that influence rents. He's the man! (Max, 0:22) Becker's recent and extensive research has shown the following trends: Mobile home parks thrive in less populated areas where there's less zoning, and that's where tenant rents are lower. (Dr. Becker, 1:54) While the South follows that pattern of still being able to base mobile home parks in less populated regions, rents are slowly escalating here. (Max, 3:38) Another cost factor is the climate. In the South, housing doesn't have to be as high quality construction because insulation costs are lower and there's no high volume of snow being dumped on roofs. (Dr. Becker, 4:16) The reduced need for higher quality construction has led to more mom and pop mobile home parks in the South because the cost of entry in the industry is lower than it would be in harsher weather conditions. (Max, 5:43) There are big qualitative differences in parks even in the same regions. (Dr. Becker, 6:40) There's a trend for some parks being converted into tiny home communities. These seem to have more appeal to a more educated market than mobile home parks. (Max, 7:21) Many metro areas are booming post-COVID while nearby rural areas are suffering. That's been a boon for city-based mobile home parks as a way of providing housing for those urban dwellers who can't afford higher apartment or stick housing rents. (Dr. Becker, 11:39) Becker sees a trend in which the quality of mobile home housing rises and the stigma against the communities is reduced as more people need the rent relief this housing provides. (Dr. Becker, 21:42) Want to know more about trends in the mobile home park industry? Just drop me a line at [email protected] or give me a call at 678-932-0200. Power Quotes From Max and Dr. Becker on Episode 12: "...facts, probabilities, and variables. Those are the three things that we are concerned about when it comes to evaluating risk on these mobile home communities. "(Max, 1:18) "It's a real tight market, it's very responsive in the areas around especially thriving cities. Then you have, you know, on the other side, you have fairly remote small towns and rural areas, especially up north where population is beginning to drain out." (Dr. Becker, 1:54) "Up in the Midwest and up north a lot rents are higher up there organically, it seems. And I was reading in your paper that it has to do with just the unavailability of land in causing rents to rise because of zoning…" (Max, 3:38) "...(lower rents are) because of the availability of land and the lack of zoning down here" (compared to higher rents up north) (Max, 3:38) "…all kinds of housing is going to be lower, because structures don't have to be as well insulated and you (don't) have tons of snow falling on your roof." (Dr. Becker, 4:16) "...here in Georgia, 80% of the mobile home communities are going to be 30 units and below. And it's just the majority of them are mom and pops." (Max, 5:43) "(Metro) areas are experiencing economic growth that we could not have imagined until fairly recently. But it's sucking the life out of some of the rural counties surrounding it." (Dr. Becker, 11:39) "You have small mom and pop manufactured home parks all over and demand for those has to be rising because normal folks can't afford the central city rents that have taken off as these areas have experienced booms." (Dr. Becker, 11:39)

MHP Podcast Episode 9: POH vs. TOH and How Each Type of Residence Should Be Valued In this episode, we explain the difference between a park-owned home (POH), a tenant-owned home (TOH) and a hybrid model that's a little of both. Then you'll learn how each type of housing unit is valued when determining a market price for the community you're thinking of buying or selling. As always, this episode, hosted by Maxwell Baker, was brought to you by The Mobile Home Park (MHP) Broker's proprietary Community Price Maximizer. With our system and our very experienced brokers, we'll guarantee you a higher price when you later sell your mobile home or RV community. Here Are The Show Highlights: A park-owned home (POH) is one which community owners own. They're responsible for repairs, and they lease these units to tenants much like they'd rent any apartment unit if they were a landlord. (:42) A tenant-owned home (TOH) is one that's owned by the resident. The park owner just rents the lot, or the space in an RV community. (3:00) In the hybrid model, the mobile home or RV is owned by the park owner, but some of the monthly payments are dedicated to financing the unit by the tenant n a rent-to-own lease arrangement. (1:08) Many investors prefer parks with TOHs for their hands-off simplicity, especially situations in which water, sewer, electrical and trash pickup are directly billed to the tenants.(3:00) POH communities are less highly sought by buyers because they're inherently riskier than TOH parks, so investors expect a higher return on investment. (2:51) The hybrid model can be problematic for investors and park owners. First of all, it can be difficult to legally determine whether a delinquent payer can be foreclosed on or must be evicted. That might be based on how much equity they've built up and the jurisdiction in which the park is located. (2:02)\ One of the most desirable models is when the city owns the roads, water and sewer lines and other infrastructure, because the park owner is not responsible for the cost or involvement in maintenance or repairs. (3:45) Other factors determining market price include lot size and location. (15:39) Want to know more about The MHP Broker approach to buying and selling RV and mobile home park communities based on the status of the homes in the park? Just drop me a line at [email protected] or give me a call at 678-932-0200. Power Quotes From Max on Episode 9: "(Homes in the hybrid model) are a little bit more complicated because when you go to sell them, there's four variables we as a company look at when it's time to look at these assets and these agreements."(1:08) "One of the rare things out there is the dedicated roads or public roads. So, in that instance, if you get a pothole you just call the municipality and they'll come out in theory and fix the pothole for you. That's like the cream on the top when it comes to mobile home parks. That's basically the infrastructure you want… (3:45) Tenant-owned homes are always going to be less risky than park-owned homes because… they have fewer variables…(and investors are) usually going to pay higher prices for these because they inherently do less to manage them…You can sit on the beach and drink your pina colada..." (4:22) (POH are) just tough to sell. We sell a lot of those because we're good at selling park owned home deals because we evaluate it properly. It really just depends on where the market is, how the infrastructure of the utilities is set up and management and lot size…" (14:23) "... the gold standard is the direct billed everything." (14.53)

MHP Podcast Episode 8: How to Get Your Mobile Home Park Appraisal Right Every Time No matter how many mobile home park or RV community deals investors have made in their careers, they can fall victim to three major errors when getting an appraisal for the purpose of buying a property. I'll explain these common errors, or obstacles, and show you how to maximize your profit potential by avoiding these Big Three no-nos. As always, this episode, hosted by Maxwell Baker, was brought to you by The Mobile Home Park (MHP) Broker's proprietary Community Price Maximizer. With our system and our very experienced brokers, we'll guarantee you a higher price when you later sell your mobile home or RV community. Here Are The Show Highlights: Appraisals are difficult, even if you're buying your second, third, fourth, fifth or tenth community. The MHP Brokers has worked with clients who own more than 100 mobile home parks or RV communities and even they struggle with appraisals. (1:08) There are three common appraisal obstacles or challenges that could screw up a deal for even a veteran buyer. (1:08) The first of these is getting a deal with artificially high, inflated lot rent numbers that can make a community look more valuable than it might be. (1:45) The second possible obstacle is getting a quote asking you to pay what might be the highest per pad price in the state when our sales data might have identified a more realistic figure based on our constantly updated market analysis. (2:06) The third error is when your lender receives bids and picks an appraiser with little or no experience with mobile home or RV parks. That's why it's so important to let us work with you. We work with appraisers all the time and can recommend appraisers with experience in this narrow field. The lender doesn't have to accept our recommendations, but they'll often add at least one of our contacts to the list of three from which they'll make their selection. (2:28) The MHP Broker 'appraisal in a box' is our systematic and organized marketing package of rent comps and other marketing information that can make the appraisal easier and more accurate. (3:58) Want to know more about The MHP Broker approach to accurate and beneficial appraisals on every park you attempt to buy? Don't hesitate to drop me a line at [email protected] or give me a call at 678-932-0200. Power Quotes From Max on Episode 8: "Since 2010, community lenders have had to source a minimum of three appraisers and then go through a blind bidding process to get the job."(3:15) "We pull fresh rent comps, we pull fresh sales comps, and we make sure that it's all in there to show (lenders) where the market is."(3:58) "We are very strict with our research crew in Indiawith getting rent comps, so we're very accurate. But a lot of these big name guys (competitors) will just fart up a number and just throw it in there. Be careful with that and make sure you do your own rent comps." (4:18) "Our research team spends a combined 315 hours a week databasing and finding real sales data for 15 different states that we operate in. We always have the most up-to-date sales data and trends for your community locally." (5:46)

MHP Podcast Episode 7: Interview with Ziv Carmel and Terry Johnson from Capstan Tax Strategies Terry Johnson and Ziv Carmel joined Maxwell Baker to discuss tax depreciation strategies that can optimize the value of your mobile home park investment. Terry and Ziv are with Capstan Tax Strategies, an engineering company that conducts cost segregation strategies for real estate investments to help owners maximize tax savings and leverage the investment to accelerate deprecation. They have conducted these reviews on numerous mobile home parks. Here Are The Show Highlights: Mobile home parks are advantageous in terms of tax depreciation potential since so many of the assets are "non-permanent," and therefore considered short-term assets that can depreciate in as few as 5 years. (3:54) The new federal tax benefit of bonus depreciation gives park owners the option of writing off the entire value of portions of the property in the first year. (12:21) The bonus depreciation benefit will phase out in the next few years, so mobile home park investors should take advantage soon. (13:32) Even if you have owned a community for years and didn't know about the special depreciation tax benefits available, you can"look back" on the depreciation benefit you've earned but not taken advantage of, and get credit. (15:38) Ziv Carmel and Terry Johnson can be reached at Capstan Tax Strategies, 215-885-7510. (22:52) Want to know more about depreciation and other tax advantages of mobile home park ownership? Drop me a line at [email protected] or give me a call at 678-932-0200. Power Quotes: "If it can be moved, it would be a non-permanent (structure) and a five-year asset." (Ziv,3:54) "Now you've got the option, should you choose to do 100% bonus, which means taking the entire value of the 15 and 5 year property and write it off in the first year." (Ziv, 12:21) "I think it's really energized the real estate market within what could have been probably a pretty tough market." (Terry, 13:32)

There's a big misconception in business that people run companies. People don't run companies; processes do. With the right processes in place, you can double the amount of homes you sell (without worrying that your employees will get burnt out). And the right processes make the entire sales process so easy a child could do it. In this episode, Ken Corbin — who has sold more homes at his address than any other address anywhere in the midwestern United States — joins me to reveal his processes and sales tricks that will make your bank account ring. Here Are The Show Highlights: The "3 P System" that helps you build a team of rock stars that will effortlessly fill empty lots (7:28) How creating a rock solid process can keep your employees from burning out (even if they're dealing with irritating tenants all day) (9:46) Why focusing on creating friendships can help you double the amount of deals you close (11:44) The "Walmart Pickup Truck Trick" that lets you seep into prospective buyers minds and discover everything you need to know to sell them (12:41) The plug-and-play "Pre-Approval Formula" that lets prospective buyers know exactly how big of a mobile home they can afford (and makes it easier to sell them one) (14:47) The overlooked, yet super effective "Staging Strategy" that will help you make $5-$10k more than you otherwise would've gotten (17:08) The rarely talked about reason why dirt-cheap mobile homes sit on the market for months (and the easy way to sell them this week) (21:08) The "Social Media Secret" that can flood you with new buyers (without breaking the bank) (24:20) If you're interested in learning more about the Community Prices Maximizing System that guarantees you'll get the highest possible price from your mobile park homes, shoot me an email at [email protected] or give me a call at 678-932-0200. If you'd like Ken's help in eliminating the growing pains when entering new markets, check out his website at https://callkencorbin.com/ or give him a call at 888-823-4945.

Minimalist living is all the rage — especially for millennials who can't afford the houses their parents bought. But the minimalist revolution is two-pronged: elderly people also want a place to downsize to in the neighborhoods they lived in for most of their life. That's why tiny home communities are one of the best investments to make right now. In this episode, Will Johnston, founder of the MicroLife Institute and first tiny home developer in Atlanta, joins me to share how to make out like a bandit from this coming revolution. Here Are The Show Highlights: Why listening to what society says will make you happy will slowly suffocate your happiness (1:18) The "Atlanta Soapbox Secret" that will help you launch that new business idea you're thinking of (6:18) Why single family homes are bankrupting big cities (and the tiny solution to fix it) (14:36) How a nonprofit shields you from greed accusations and allows you to create more positive change (even if you make a boatload of money) (18:07) The insidious way moving into a new neighborhood makes elderly people die sooner (20:11) The missing ingredient tiny home communities have that will give you more profits and happier tenants (26:27) If you're interested in learning more about the Community Prices Maximizing System that guarantees you'll get the highest possible price from your mobile park homes, shoot me an email at [email protected] or give me a call at 678-932-0200. If you'd like to learn about how Will can help you build a tiny home community, give him a call at 404-502-2195, email at [email protected], or check out his website at https://www.microlifeinstitute.org/.

RTO mobile park homes can be a powerful way to add coins to your piggy bank. The trouble is there are a lot of variables that can wreck your deal. In this episode, Eric Wanck, a fellow mobile home park broker, joins me to share his story about closing a RTO mobile park home in Arrowood. Here Are The Show Highlights: The 5 most important "closing variables" that help you make an extra 20% during closing (2:39) How buyer feedback reduces the learning curve for mobile park home RTOs and helps you make more money (5:56) Why email is the worst communication tool when trying to buy a mobile home park (7:59) How a good mobile park home closing attorney evaporates all the stress during the last couple days of closing (12:32) If you're interested in learning more about the Community Prices Maximizing System that guarantees you'll get the highest possible price from your mobile park homes, shoot me an email at [email protected] or give me a call at 678-932-0200. If you're looking for a park under $2 million, give Eric a call at 770-668-5448.

Building relationships with your clientele is the most effective way to make more money. Not only does it help you close the initial deal, but many buyers will come back for more deals — if you treat them properly. In this episode, Ryan Ramseur shares how building a relationship with his buyer helped him close his first mobile home park deal. Here Are The Show Highlights: The most overlooked, yet most effective method for closing more deals (1:39) How to get your buyers to come back to you for business on demand (3:00) Why focusing on relationships helps you close deals in 45 days or less (3:42) The dirt-simple way to put more moolah in your pockets this month (4:48) If you're interested in learning more about the Community Prices Maximizing System that guarantees you'll get the highest possible price from your mobile park homes, shoot me an email at [email protected] or give me a call at 678-932-0200. If you'd like to learn more about Ryan's deal or would like to connect with him, send him an email at [email protected].

Wouldn't it be nice if buyers chased you around to sell them a deal instead of the other way around? Well there's an easy way to do that — and that's by creating a bond with your buyers and knowing exactly which bells and whistles will them drool. In this closing cocktail episode, Craig Nielson joins me to reveal how to create this bond and irresistible offer with your buyers so you can close a deal in 45 days (or less). Here Are The Show Highlights: How elementary schools make it easier to close mobile home park deals (1:47) Why a mobile home park is the "missing ingredient" to building generational wealth (and how to leverage this to close more deals) (3:54) The "Engagement Bond" that makes buyers chase you instead of the other way around (4:58) Are you looking to buy a mobile park home? Here's how to find an off-market deal lickity split (5:44) Why email is the worst way to communicate if you're ready to buy a mobile park home (and what to do instead) (6:52) If you're interested in learning more about the Community Prices Maximizing System that guarantees you'll get the highest possible price from your mobile park homes, shoot me an email at [email protected] or give me a call at 678-932-0200. If you'd like to learn more about Craig's deal or would like to connect with him, send him an email at [email protected].

Finding a mobile home park broker can be tough. Mobile home parks are one of the hardest assets to close on — meaning, if you don't find the right broker you can sabotage your profits. But there are simple things you can do that will help you find the best broker for your mobile home park. One that will help you maximize your profits and minimize your headaches. In this episode, I'm revealing the top 3 tricks to choose a great mobile home park broker. Here Are The Show Highlights: How your gut can save you from working with shady mobile home park brokers (2:19) How 2 publicly available spreadsheets prevent you from getting scammed the next time you talk to a mobile home park broker (4:03) Why working with a "jack of all trades" real estate agent can wipe out all your profits from selling your mobile park home (5:23) 5 questions to ask mobile home park brokers that instantly separates the studs from the duds (7:34) If you're interested in learning more about the Community Prices Maximizing System that guarantees you'll get the highest possible price from your mobile park homes, shoot me an email at [email protected] or give me a call at 678-932-0200.