Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we dive deep into tax strategies and opportunities for mobile home park investors with Margaret Asher, a seasoned CPA with over 15 years of experience specializing in real estate accounting and tax services. Margaret shares her expertise on cost segregation studies, bonus depreciation, 1031 exchanges, and other critical tax-saving strategies that make mobile home parks an attractive investment.

Highlights of the episode:

Connect with the Guest: 

Email: [email protected]

Welcome back to the Mobile Home Park Lawyer Podcast! In this solo episode, we dive deep into tackling one of the most persistent challenges for mobile home park owners: finding and fixing water leaks. Drawing on personal experiences and input from industry experts, Ferd shares actionable strategies and lessons learned when dealing with water loss, inaccurate billing, and maintenance inefficiencies in mobile home parks.

Explore practical solutions like using submeters, isolating leaks with zone valves, and leveraging new technologies like thermal drones. You’ll also hear stories from the trenches, including creative (and sometimes unconventional) methods like witching sticks and sonar leak detection. Whether you’re a park owner or operator, this episode is packed with tips and advice to help you save money, conserve water, and better manage your properties.

If you’re dealing with water loss in your park or looking to improve operational efficiency, this episode is a must-listen. Tune in now for insightful stories and practical advice!

Highlights of the episode:

01:19 - Basic water loss solutions: Master meters and submeters

03:00 - Leak detection machines and witching sticks

05:15 - Sectioning parks with additional shut-off valves

07:01 - Costly lessons from draining fire hydrants

09:02 - Identifying leaks through historical property data

11:00 - Underground clay tiles and misidentified leak locations

12:45 - Risky but effective over-pressurizing techniques to find leaks

15:50 - Ensuring accurate city billing

18:12 - Hidden leaks from poorly capped lines and infrastructure

21:20 - Practice tips for maintaining property maps and anticipating future leaks

22:45 - Closing remarks and thanks to contributors

Connect 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 #WaterLeaks #RealEstateInvesting #MaintenanceSolutions #PropertyManagement 

Welcome back to the Mobile Home Park Lawyer Podcast! In this insightful episode, we’re joined by John Neet, a seasoned expert in mobile home park appraisals and valuation. John shares his vast knowledge on the complexities of rent control, the nuances of regional regulations, and how these factors impact property valuations, particularly in states like California with highly regulated markets.

John discusses the intricacies of rent control policies and how they affect market value, tenant dynamics, and owner strategies. He sheds light on unique valuation challenges, such as factoring in vacant pads and fractional interests, while also delving into the current landscape of investment in mobile home parks. With decades of experience on the West Coast, John provides valuable perspectives on the future of regulatory changes and their potential to expand eastward, offering listeners essential insights into market trends and long-term investment strategies.

Whether you're managing a small portfolio or a large one, this episode will give you a comprehensive look at property management challenges and opportunities in the mobile home park industry. Tune in now for a discussion filled with practical advice for any property manager or investor!

Highlights of the episode:

00:34 - Guest Intro: John Neet

01:11 - Appraising mobile home parks and focus on the Western U.S.

03:30 - Rent control and its impact on California markets

05:45 - Localized rent control challenges

09:00 - Creative strategies for addressing rent control limitations

13:02 - Valuation of vacant pads

17:45 - Discussing cap rates in today’s economic environment

22:20 - Fractional interest valuation and ownership complexities

27:35 - Understanding local regulations for accurate appraisals

31:42 - Shifts in buyer demographics and new trends in park ownership

37:20 - The future of regulatory impacts expanding eastward

43:56 - Closing insights and how to contact John Neet

Connect 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

Connect with the Guest: 

Website: https://www.johnneet.com/

Linkedin: https://www.linkedin.com/in/john-neet-b9b3ab12/

#RentControl #PropertyManagement #MobileHomePark #RealEstateInvesting #ValuationStrategies

Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we’re joined by Luis Platt, who shares his unique journey from brokerage to becoming a vendor in the mobile home park (MHP) industry, now specializing in high-speed internet solutions with Quickbit Internet. 

Luis discusses the increasing need for reliable internet connectivity in MHPs and how fiber optic technology can help park owners attract higher-income tenants, enhance security, and improve overall property management efficiency. He explains how fiber optic internet infrastructure benefits residents who work from home, game, or rely on stable connections for daily needs, and how it can even help lower insurance premiums. From security enhancements to supporting work-from-home lifestyles, Luis offers valuable insights into how digital infrastructure is changing the landscape of mobile home park living and management. 

Whether you're managing a small portfolio or a large one, this episode will give you a look into the future of property management technology and how it can help your business grow. Tune in now for a great conversation filled with practical advice for any property manager or investor!

Highlights of the episode:

00:32 - Guest Intro: Luis Platt 

03:25 - Transition to Quickbit Internet and its role in the MHP sector

05:00 - Fiber optic technology without digging

06:50 - Benefits of high-speed fiber optic internet for MHP residents

options

11:10 - Future-proofing communities with digital infrastructure

15:01 - Leveraging internet connectivity for better security and cost savings

20:31 - Impact of connectivity on residents' job opportunities and lifestyle

24:22 - Addressing challenges and misconceptions around MHP internet solutions

26:57 - Closing thoughts and how to contact Luis Platt

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.kwikbitinternet.com/

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

Instagram: https://www.instagram.com/kwikbitinternet/

#PropertyManagement #MobileHomePark #FiberOptic #TenantConnectivity #RealEstateTech

Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we’re joined by Tanner Buuck, team lead at Yardi for manufactured housing sales. Tanner provides valuable insights into the world of property management software, sharing how technology is modernizing the operations of mobile home park communities. He discusses the challenges operators face, such as streamlining accounts receivable, improving tenant communications, and automating operations like utility billing and invoicing. Tanner highlights the tools that Yardi offers to simplify these tasks, making property management more efficient.

From utilizing AI, implementing resident portals, and the benefits of automating collections to leveraging CRM systems for better marketing, Tanner provides actionable tips for operators to maximize efficiency in managing their properties. 

Whether you're managing a small portfolio or a large one, this episode will give you a look into the future of property management technology and how it can help your business grow. Tune in now for a great conversation filled with practical advice for any property manager or investor!

Highlights of the episode:

00:00:48 - Guest Intro: Tanner Buuck

00:05:02 - Challenges operators face with modernizing operations

00:06:40 - Streamlining accounts receivable and utilizing property management software

00:08:47 - The evolution of AI in multifamily and manufactured housing

00:12:20 - Automating invoicing and improving operational efficiency

00:15:10 - Utilizing CRM tools to manage leads and tenant engagement

00:19:08 - Implementing resident portals and the importance of online payment systems

00:21:50 - Managing utility bill backs and compliance

00:26:30 - Automation in accounting and maintenance management

00:31:10 - Closing thoughts and where to find more information

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.yardibreeze.com/

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

Instagram: https://www.instagram.com/YardiBreeze/   

#PropertyManagement #MobileHomePark #RealEstateTech #TenantManagement

Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we dive into the complex but crucial topic of the Right of First Refusal (ROFR) provisions in mobile home park (MHP) contracts and leases. Host Ferd Niemann breaks down the pros and cons of these provisions for both tenants and landlords, sharing insights on how the growing trend of statutory ROFR is impacting MHP transactions in various states.

Ferd covers why ROFR is gaining traction in 16 states and discusses real-life examples where these provisions come into play, including the financial, operational, and legal challenges landlords face when selling parks. He also explores how these rules can protect tenants from sudden evictions and provide opportunities for them to own the parks they live in, while also addressing the strain these provisions can place on the landlord-tenant relationship.

Whether you’re a park owner navigating state laws or a tenant exploring your rights, this episode will equip you with practical knowledge to handle the complexities of ROFR in real estate transactions. Tune in now for a comprehensive breakdown of this timely issue.

Highlights of the episode:

00:00:34 Introduction and overview by Ferd Niemann

00:01:05 What is Right of First Refusal (ROFR) and why it's becoming more common

00:03:15 How ROFR provisions impact landlords’ ability to sell mobile home parks

00:05:22 Key challenges tenants face in executing a ROFR

00:08:07 Financial and legal considerations for landlords

00:11:15 Real-life examples of ROFR transactions gone wrong

00:14:32 How ROFR can affect landlord-tenant relationships

00:17:02 Legislative trends and the growing influence of tenant rights in real estate

00:19:02 Final thoughts on navigating ROFR as a park owner or investor

00:20:00 Closing remarks and where to find more resources

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

#RightOfFirstRefusal #MobileHomePark #RealEstateInvestment #TenantRights 

Welcome to another episode of the Mobile Home Park Lawyer Podcast! Today, we are excited to have Justin Donald, the founder of The Lifestyle Investor and author of the Wall Street Journal #1 bestseller "The Lifestyle Investor: The 10 Commandments of Cash Flow for Passive Income and Financial Freedom." Justin is on a mission to help people achieve financial freedom through low-risk cash flow investing.

Justin shares his journey from his early days of investing to building a nine-figure net worth and creating a lifestyle-centric approach to investing. He discusses the importance of passive income, the power of mobile home park investments, and the strategies he uses to simplify complex financial systems. Justin also provides insights into balancing life and business, the significance of finding the right team, and the value of joining masterminds and learning from successful investors.

Tune in to gain actionable advice on low-risk cash flow investing, building a lifestyle-focused investment portfolio, and achieving financial freedom.

Highlights of the episode:

00:00:34 Welcome and introduction of guest Justin Donald

00:01:05 Justin's background and journey into investing

00:02:00 Discovering mobile home parks as a profitable investment

00:05:00 Transition to full-time investing and achieving financial freedom

00:11:20 Building systems and hiring the right team

00:15:15 Importance of off-market deals and finding invisible opportunities

00:20:30 Challenges in the mobile home park industry

00:26:40 Strategies for maintaining and growing a portfolio

00:35:00 Overcoming local government challenges

00:39:30 Closing remarks and how to find Justin Donald

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://justindonald.com/

Podcast: https://justindonald.com/podcast/

Instagram: https://www.instagram.com/justindonald/?hl=en

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

Facebook: https://www.facebook.com/justin.donald.79

Twitter: https://twitter.com/JWDonald1

Youtube: https://www.youtube.com/channel/UCCM-bhk3FxHQRDXXlDU2r2Q

Linktree: https://linktr.ee/JustinDonald

Book “The Lifestyle Investor”

#MobileHomeParks  #RealEstateInvestment #LowRiskInvesting

Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we are thrilled to have Aleksey Chernobelskiy, an expert advisor for Limited Partners (LPs) and General Partners (GPs), as our guest. Aleksey shares his extensive knowledge on vetting and managing LP investments, providing valuable insights for both seasoned and aspiring investors.

Aleksey delves into the current challenges in the real estate investment landscape, such as floating rate debt and the impact of changing cap rates. He explains the importance of thorough due diligence, understanding rate caps, and the nuances of capital calls. Aleksey also highlights the critical role of alignment of interests between GPs and LPs, and the significance of transparent communication and ethical practices in real estate syndications.

Tune in now to gain actionable advice on how to navigate the complexities of real estate investments, evaluate potential deals, and make informed decisions to optimize your portfolio.

Highlights of the episode:

00:00:34 Welcome and introduction of guest Aleksey Chernobelskiy

00:01:05 Aleksey's background and experience in real estate investment

00:03:15 Current challenges faced by GPs and impact on LPs

00:05:54 Understanding floating rate debt and rate caps

00:08:03 Evaluating capital calls and their implications

00:11:56 Alignment of interests between GPs and LPs

00:15:45 Importance of due diligence and transparent communication

00:20:04 Common pitfalls in real estate syndications

00:35:01 Aleksey's insights on ethical practices in real estate

00:39:37 Closing remarks and how to find Aleksey Chernobelskiy

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.centriocapital.com/

Email: [email protected]

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

X: https://x.com/chernobelskiy

#RealEstateInvestment #LPAdvice #MoblieHomeParks

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 Savitsky, 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 Savitsky

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: [email protected]

Linkedin 50West: https://www.linkedin.com/company/50west-capital/

Linkedin Jordan: https://www.linkedin.com/in/jordan-savitsky-64505b23/

#MobileHomePark #RealEstateInvestment #OperationalInsights

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

Challenges Faced

Lessons Learned

Tune in to this insightful episode to learn more about surviving and thriving in the mobile home park industry.

Timestamps:

Connecting with MHP Law:   

#MobileHomePark #RealEstateInvestment #Deals