The Mobile Home Park Lawyer Podcast Ferd Niemann IV

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 PlanThe 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 FacedHowever, 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 LearnedDespite 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-103814958118069LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/Instagram: https://www.instagram.com/themhplawyer
#MobileHomePark #RealEstateInvestment #Deals

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

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

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

Welcome to our latest episode! Get ready to embark on another enlightening journey as we dive into the world of mobile home investing with Rachel Hernandez, best-selling author, real estate investor, and speaker renowned for her expertise in Adventures in Mobile Homes podcast.
With over a decade of experience in real estate, Rachel has carved her path from landlord to mobile home investment specialist. Her accolades include #1 bestselling books on Amazon, recognition as the top writer for mobile homes on Quora, and features in esteemed publications such as Forbes and Motley Fool.
In this episode, Rachel shares invaluable strategies for generating wealth in mobile home parks, drawing from her extensive hands-on experience. From tackling difficult tenants and pest problems to navigating the intricate structure of wholesaling deals, Rachel provides a comprehensive guide to success in the mobile home industry.
Join us as Rachel sheds light on the pivotal role of sales representatives, unveils the challenges and frustrations inherent in buying and selling mobile homes, and offers indispensable tips for aspiring mobile home investors.
Don't miss out on this exclusive opportunity to glean insights from Rachel Hernandez, where expertise meets inspiration, and the keys to successful mobile home investing await. Tune in now and unlock the secrets to financial freedom in the dynamic realm of mobile home parks!
 
Highlights of the episode:
00:00:36 Guest Introduction & Background: Rachel Hernandez
00:01:04 Strategies for generating wealth in mobile home parks
00:05:03 Dealing with a difficult tenant and rat problem in mobile home investing
00:10:00 The role of sales representatives in the mobile home industry
00:15:00 The structure and approach of wholesaling deals
00:20:02 Challenges and frustrations in buying and selling mobile homes
00:25:01 Tips for successful mobile home investing
00:30:01 The benefits and motivations behind exchanging homes in mobile home parks
 
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://adventuresinmobilehomes.com/
Linkedin:  https://www.linkedin.com/in/mobilehomegurl/
Youtube: https://www.youtube.com/c/AdventuresinMobileHomes
Facebook: https://www.facebook.com/adventuresinmobilehomes
 
#MobileHomeInvesting #WholesalingDeals #MobileHomeSales

Welcome to our latest episode! Let’s delve into the dynamic world of property management and pet regulations with our esteemed guest, Victoria Cowart. Victoria brings a wealth of expertise as the Director of Education & Outreach for PetScreening, coupled with years of hands-on experience in multifamily housing communities and HOAs.
 
As a leading industry expert and educator, Victoria's mission is to empower property managers with the knowledge they need to navigate the complexities of pet-related laws and regulations. With a track record of guiding both large property management companies and independent rental owners, Victoria is dedicated to maximizing income while avoiding common pitfalls in mobile home parks and other rental properties.
 
In this episode, Victoria sheds light on crucial topics such as clarifying the distinction between service animals and support animals, balancing the needs of assistance animals with property owner rights, and addressing discrimination towards certain dog breeds. She also emphasizes the importance of fostering a pet-friendly community and provides valuable insights into documentation guidelines for assistance animals in rental properties.
 
Victoria shares practical strategies for handling pet-related issues, including the rights to reliable documentation and potential challenges in managing complaints. Additionally, Victoria walks us through real-world scenarios, such as navigating the approval process for Emotional Support Animals and the significance of implementing pet fees in communities.
 
Tune in now for an enlightening conversation with Victoria Cowart, where expertise meets passion, and the intricacies of property management and pet regulations come to the forefront. Gain invaluable insights that will empower you to create thriving, pet-friendly communities while safeguarding the interests of property owners and residents alike
 
Highlights of the episode:
00:00:45 Guest Introduction & Background: Victoria Cowart
00:01:03 Maximizing income and avoiding pitfalls in mobile home parks
00:05:00 Clarifying the distinction between service animals and support animals
00:10:00 Balancing the needs of assistance animals and property owners
00:15:01 Addressing discrimination towards certain dog breeds
00:20:00 The importance of caring for pets in the community
00:25:02 Guidelines for documentation of assistance animals in rental properties
00:30:01 Rights to reliable documentation and potential issues in handling complaints
00:35:00 The issue of an unauthorized Rottweiler in a building and the process for obtaining approval for an Emotional Support Animal
00:35:00 The importance of pet fees in communities
 
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.petscreening.com/
Linkedin: https://www.linkedin.com/in/victoria-cowart-cpm-naaei-faculty-3745984/
X: https://twitter.com/VictoriaCowart
 
#PetRegulations #MobileHomeParkInvesting #PropertyManagementInsights