Mobile Home Park Mastery

Latest Episodes:

Considerations When A Manager Wants A Raise Mar 27, 2023

Show notes

America is in a labor tsunami in which it’s harder to find and retain workers than ever before. In this environment, many mobile home park owners face the reality of managers asking for more money. But should you give in to their demands? In this Mobile Home Park Mastery podcast, we will review how manager compensation works and share thoughts on navigating this new reality.

The Science Behind Selling $70,000 Singlewides Mar 20, 2023

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Mobile home prices have nearly doubled since the advent of Covid, and that has put a stress test on selling “trailers”. However, many mobile home parks continue to sell new homes despite the higher prices. In this Mobile Home Park Mastery podcast, we’re going to make some observations on what is needed to sell a $70,000 mobile home in today’s market.

The Playbook On Bank Failure Mar 13, 2023

Show notes

The collapse of Silicon Valley Bank – the second largest in U.S. history – may be ushering in a new era of banking collapse. In this Mobile Home Park Mastery podcast, we’re going to scientifically review the risk of mobile home park loans and explore some of the lessons I learned from the 1987 Texas Savings and Loan Crash.

Unlocking The Roots of A Sense of Community Mar 06, 2023

Show notes

A few years ago Time magazine declared that “mobile home parks are the gated communities of the less affluent” and raved about their strong sense of community. In this Mobile Home Park Mastery podcast we’re going to drill down on the origins of that sense of community and what park owners can do to foster a stronger bond between residents.

Off-Site Vs. On-Site Managers Feb 27, 2023

Show notes

As the mobile home park industry evolves, owners are constantly pondering not only what the new role of community manager is becoming but also the necessity of them living on-site. Larger parks have allowed for on-site or off-site manager possibilities for years, but smaller parks have been relegated to strictly on-site options. However, those lines may be blurring. In this Mobile Home Park Mastery podcast, we will examine the issue of off-site vs. on-site managers.

Why Credit Scores Don’t Mean Much In Affordable Housing Feb 21, 2023

Show notes

Mobile home lenders set very low expectations on customer credit scores yet enjoy very low default rates. This seems to be contrary to all the physics of extending credit but it’s supported by fact. In this Mobile Home Park Mastery podcast we’re going to dig deeper into the topic of why a low FICO works just fine when it comes to customers buying mobile homes.

The Limits On Grandfathering Protection Feb 13, 2023

Show notes

Even though all cities hate mobile home parks, they tolerate them because of property laws governing legal non-conforming use – also known as “grandfathering”. But not all mobile home parks share that protection. In this Mobile Home Park Mastery podcast, we’re going to review the attributes that make a mobile home park at risk and without “grandfathering” rights.

Building A Firewall Feb 06, 2023

Show notes

Owning a mobile home park is a noble calling, but you must protect yourself from the residents you are trying to help. While 99% of park customers are wonderful people, there is that 1% that want to take advantage of your role as the owner to try to borrow money, harass you, get out of rules violations, get your manager fired – basically try to drive you nuts. The solution is to build a firewall between your customers and you. In this Mobile Home Park Mastery podcast, we’ll go through the simple steps to do just that.

The Many Similarities Between Mobile Home Parks And Dollar Stores Jan 30, 2023

Show notes

Mobile home parks have always been viewed as the lowest-cost form of housing while dollar stores serve that same niche in the retail sector. Yet there are many more similarities between “trailer parks” and “Dollar Tree” than meets the eye. In this Mobile Home Park Mastery podcast, we’ll review the similarities and why both businesses are underappreciated – a fact that’s about to change.

Navigating Wrap Notes Jan 23, 2023

Show notes

With interest rates up significantly, some sellers may propose a construction called a “wrap” in which you leave the existing mortgage intact as part of the deal. But does that work? In this Mobile Home Park Mastery podcast we’re going to review the good and bad aspects of this deal construction and discuss methods to mitigate the risk.

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