In today's episode, we have the pleasure of speaking with Franco Perez, an expert in helping residents upgrade their homes. Franco is the Founder of Franco Mobile Homes, a company that specializes in providing financing solutions for home improvements.
Franco sheds light on the importance of home improvement and how it can increase the value of one's property. He talks about the common misconceptions surrounding home upgrades and how they are working to dispel those myths.
We then explore the ways in which Franco Mobile Homes’ financing model works. Franco explains how they evaluate potential customers, the types of loans they offer, and how they work with contractors to ensure the quality of the work being done. He also discusses some of the challenges they face in the industry, such as the lack of awareness about available financing options and the need for more education on the benefits of home improvement.
Don't miss this informative episode as we help residents upgrade their homes!




Highlights of the episode:
00:00:37 Guest Introduction: Franco Perez
00:03:35 What Franco Does With Older Homes
00:07:25 Challenges
00:09:09 How to Get an Affordable Home
00:14:50 Bad Myths or Bad Stigmas About Mobile Homes
00:16:34 Code Violations
00:21:27 How Much Money Have You Actually Spent Just Renting?
00:24:27 Luck With Municipalities
00:28:08 About Liking Your Neighbors
00:30:57 Other Tips and Tricks
00:31:56 Closing
 
Connecting with MHP Law:   
Website: https://themobilehomelawyer.com/
Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069
LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/
Instagram: https://www.instagram.com/themhplawyer
 
#FrancoMobileHomes #HomeImprovementFinancing #UpgradeYourHome

Ep. 167 | Interview With Franco Perez on Helping Residents Upgrade Their Homes

The Mobile Home Park Lawyer Podcast with Ferd Niemann IV.

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Welcome to another episode of the Mobile Home Park Lawyer Podcast with your host, Ferd Niemann. In this Independence Day special, we celebrate freedom and community while diving deep into the world of mobile home parks. 
In this episode, Ferd dives into a case study that showcases how to manage a mobile home park investment when everything seems to go wrong. This real-life example highlights the challenges and lessons learned from a deal that didn't go as planned, yet still resulted in a modest profit. The deal, located in Missouri, spanned from early 2021 to late 2023, covering 22 months of ownership. The park, consisting of 36 sites, was initially under contract for $850,000 but was ultimately purchased for $650,000 and later sold for just under $1.8 million.
Business Plan

The business plan included various improvements: repairing roads, sub-metering water and sewer, infilling homes, renovating and demolishing homes, and adding signage. The park also featured small amenities like a playground and picnic area.
Challenges Faced

However, numerous challenges arose throughout the process. These included acquisition issues like disagreements on pricing and retraining negotiations, as well as operational hurdles such as cost overruns, problems with concrete measurements, lot slopes, and unexpected electrical upgrades. Additionally, changing city regulations on home placements and power line requirements added to the complexity. The park also faced tenant problems, including evictions and vandalism.
Lessons Learned

Despite these obstacles, several key lessons were learned. The importance of thorough due diligence and planning for unforeseen expenses became clear. Flexibility in adapting to new challenges and regulations proved essential. Effective community management, especially in handling problematic tenants and improving park safety, was crucial.
Tune in to this insightful episode to learn more about surviving and thriving in the mobile home park industry.
Timestamps:

00:00 Buying and selling mobile home parks, with a focus on value-add strategies and lessons learned.

02:10 Real estate deal with cost overruns and permitting issues. 

06:40 Electrical issues in a housing development. 

09:51 Electrical code violations in a mobile home park. 

15:38 Drug use and crime in a neighborhood, including a violent incident and a renovation project. 

21:22 Winter home challenges and repairs. 

24:28 Challenges with a mobile home park, including tenant issues and cost overruns. 

29:31 Challenges and lessons learned from renovating a mobile home park. 
Connecting with MHP Law:   

Website: https://themobilehomelawyer.com/

Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069

LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/

Instagram: https://www.instagram.com/themhplawyer
#MobileHomePark #RealEstateInvestment #Deals

EP. 190 | Case Study: How to Survive a Deal when Everything Seems to Go Wrong

Welcome back to the Mobile Home Park Lawyer Podcast! Today, we're excited to bring you a wealth of knowledge from our distinguished guest, Jordan Savitzky, with 50 West Capital. Jordan is an experienced entrepreneur with a background in various business ventures, including real estate and mobile home park (MHP) investments.
 
In this episode, Jordan shares his journey from private equity to real estate, emphasizing his approach to learning by doing and the importance of thorough due diligence. He offers valuable insights into strategies for finding the right deals, navigating the challenges of different markets, and operational tips that can make or break your investment.
 
Jordan discusses the nuances of managing park-owned homes, the importance of due diligence, and the value of having a working capital budget. He also highlights the significance of finding the right tenants and shares personal anecdotes about tenant screening and operational adjustments that have contributed to his success in the MHP space.
 
Don't miss this insightful conversation that dives deep into the operational and strategic aspects of mobile home park investments. Whether you're a seasoned investor or just starting, Jordan's experiences and advice will help you navigate the complexities of the MHP market! Tune in Now!
 
Highlights of the episode:
00:00:07 Introduction and overview by Ferd Niemann
00:00:34 Welcome and introduction of guest Jordan Savitzky
00:05:04 Initial deal criteria and lessons learned from the first deals
00:07:46 Importance of due diligence and working with experts
00:14:57 Value of park-owned homes and strategies for managing them
00:19:08 Tenant screening and the importance of finding the right tenants
00:26:52 Operational tips and experiences post-closing
00:36:29 Strategies for marketing and attracting the ideal tenant demographic
 
Connecting with MHP Law:   
Website: https://themobilehomelawyer.com/
Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069
LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/
Instagram: https://www.instagram.com/themhplawyer
 
Connecting with Guest:   
Email: jordan@50westcapital.com
Linkedin 50West: https://www.linkedin.com/company/50west-capital/
Linkedin Jordan: https://www.linkedin.com/in/jordan-savitsky-64505b23/
 
#MobileHomePark #RealEstateInvestment #OperationalInsights

Ep. 190 | Case Study: Interview with Jordan Savitzky on Mobile Home Park Investments and Operational Insights

Welcome back to the Mobile Home Park Lawyer Podcast! Today, we have an engaging episode featuring Frank Rizzo, co-founder of Stone Capital. Frank is a value-add specialist with extensive experience in redeveloping mobile home parks and other real estate assets.
 
In this episode, Frank shares his journey in the mobile home park industry, focusing on deep value-add opportunities, infill strategies, and infrastructure improvements. He discusses the importance of thorough market analysis, balancing the challenges of infill projects, and the strategic considerations for acquiring parks with varying occupancy levels.
 
Frank and Ferd dive into operational tips, including the benefits of early infrastructure improvements, the significance of tree and road work, and the nuanced approach to rent increases. Frank also highlights the challenges and successes of managing multiple parks within the same market and shares valuable lessons learned from his extensive experience.
 
Tune in now to gain insights on value-add strategies, market dynamics, and practical tips for optimizing mobile home park investments!
 
Highlights of the episode:
00:00:34 Welcome and introduction of guest Frank Rizo
00:01:05 Frank's background and entry into the mobile home park industry
00:03:15 Balancing infill projects and market absorption rates
00:05:54 Operational challenges and the importance of team logistics
00:13:26 Strategic approaches to rent increases and community improvements
00:27:15 Value-add success story in Laurinburg, North Carolina
00:33:14 Tips and lessons learned for value-add investments
00:39:01 The importance of having a good attorney
 
Connecting with MHP Law:   
Website: https://themobilehomelawyer.com/
Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069
LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/
Instagram: https://www.instagram.com/themhplawyer
 
Connecting with Guest:   
Website: https://www.stonecapinv.com/
Linkedin: https://www.linkedin.com/in/frank-rizzo-20818843/
 
#MobileHomeParkInvesting #ValueAdd #OperationalTips

Ep. 189 | Case Study: Interview With Frank Rizzo on How To Tackle Value Add Turnaround Projects

Welcome to a new episode! Today, we take a deep dive into the world of real estate investment and market dynamics with our distinguished guest, Walter Johnson, Founder & CEO of SONOS Capital.
 
With over 16 years of experience spanning the Real Estate and Banking Industries, Walter brings a wealth of expertise to the table. Known for his adept leadership and passion for continuous improvement, Walter has served in various capacities, from Real Estate Investor & Vice President to High Converting Banker & Sales Manager.
 
In this episode, Walter shares invaluable insights into strategies for finding and managing deals in the real estate market, navigating the challenges and potential benefits of dealing with private utilities, and implementing effective strategies for bringing in new homes to a mobile home park.
 
He also discusses the challenges and expansion plans in the real estate market, the potential for competition and consolidation in the mobile home park industry, and offers tips for increasing cash flow amidst market consolidation.
 
Don't miss this opportunity to gain wisdom from Walter Johnson as he navigates through these dynamic topics, offering guidance that could redefine your approach to real estate investment. Tune in now to discover cutting-edge strategies and ensure your investments thrive in today's ever-evolving market landscape!
 
Highlights of the episode:
00:00:07 Guest Introduction & Background: Walter Johnson
00:02:30 Strategies for finding and managing deals in the real estate market
00:04:58 The challenges and potential benefits of dealing with private utilities
00:09:59 Strategies for bringing in new homes to a mobile home park
00:14:58 Challenges and expansion plans in the real estate market
00:19:59 The potential for competition and consolidation in the mobile home park industry
00:24:54 Consolidation in the market and tips for increasing cash flow
 
Connecting with MHP Law:   
Website: https://themobilehomelawyer.com/
Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069
LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/
Instagram: https://www.instagram.com/themhplawyer
Connecting with Guest:   
Website: www.sonoscapital.com
Linkedin: https://www.linkedin.com/company/sonos-capital/
 
#MobileHomePark #ManufacturedHomes #MarketInsights

Ep.188 | Interview with Walter Johnson on Marketing to Find Deals Directly

Welcome to a new episode! Today we take a deep dive into the world of manufactured housing and commercial real estate with our distinguished guest, Chuck Schierbeck II, MAI, MICP. As a seasoned Valuation Services Director and a real estate market analyst with a nationwide reputation, Chuck brings a wealth of knowledge and expertise in appraising and analyzing property across the United States.
 
With experience spanning four decades and assignments completed in over 40 states, Chuck has become a trusted voice in the industry, particularly in the niche of manufactured home communities. Whether it's office buildings, regional shopping malls, industrial facilities, or multifamily residential developments, Chuck has done it all.
 
In this episode, Chuck unpacks the current state of the real estate market in the wake of the pandemic, detailing how shifts in the market have impacted property values and sales. He'll delve into the intricate dynamics of property valuation, discussing the critical factors that influence the classification and worth of properties, and share his seasoned perspective on the specific expenses and ratios relevant to the manufactured housing industry.
 
Furthermore, Chuck will highlight the unique benefits and considerations of investing in a 55+ community in Buffalo, NY, and offer his expert advice on valuing properties and sidestepping common pitfalls. For those looking to enhance the occupancy and profitability of park home communities, Chuck's insights into effective strategies are invaluable.
 
Don't miss this chance to gain crucial insights from Charles Schierbeck as he navigates through these complex topics, offering guidance that could redefine your understanding of real estate investment. Tune in now to discover cutting-edge strategies and ensure your investments are both savvy and secure in today's ever-evolving market landscape!
 
Highlights of the episode:
00:00:36 Guest Introduction & Background: Chuck Schierbeck
00:02:50 The current state of the real estate market and its relation to the pandemic
00:04:58 The impact of the pandemic on the sales market and property values
00:09:57 Factors affecting property value and the classification of properties
00:14:27 The expenses and expense ratios in the manufactured housing industry
00:19:53 The benefits and considerations of a 55+ community in Buffalo, NY
00:24:58 Valuing properties and avoiding common mistakes
00:29:57 Exploring strategies for increasing occupancy and profitability in park home communities
00:34:59 Insights on real estate and upcoming event
 
Connecting with MHP Law:   
Website: https://themobilehomelawyer.com/
Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069
LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/
Instagram: https://www.instagram.com/themhplawyer
 
Connecting with Guest:   
Website: https://www.colliers.com/en
Linkedin: https://www.linkedin.com/in/schierbeck/
 
#MobileHomeInvesting #ManufacturedHomes #PropertyValuation

Ep. 167 | Interview With Franco Perez on Helping Residents Upgrade Their Homes

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