MHRetailers & LLLCommunity Owners Meet & Talk $
Blog # 245 Copyright 2013 5 May 2013
Perspective. ‘Land lease lifestyle communities, a.k.a. manufactured home communities & earlier, ‘mobile home parks’, are the real estate component of manufactured housing.’
WHAT YOU MISSED!
‘More Than a Baker’s Dozen Excellent Reasons’ to Attend the 22nd Networking Roundtable in Bloomingdale, IL. @ 18 – 20 September 2013!’
NOW AVAILABLE for the asking!
WHAT YOU MISSED!
There’s a sea change a – coming to the manufactured housing industry; and for many. it’s already here!!!!!
During the past 35 years, factory – built housing has experienced emergence and maturity of its’ HUD era; period of the ‘hudulars’, a ‘land – and – home package’ hiatus; and of late, an emphasis on land lease lifestyle community (a.k.a. manufactured home community) infill! And during the same 3 ½ decades, among the estimated 50,000 LLLCommunities nationwide, we’ve witnessed three waves of realty investment consolidation, resulting in 500+/- property portfolios; and, the stark operational necessity (i.e. read ‘survival’) to sell, and often self – finance, new and resale housing transactions on – site, to maintain rental homesite occupancy. Furthermore, we now find ourselves in the midst of an unprecedented period of federally and state – mandated compliance with pervasive housing finance regulations pertaining to chattel (personal property) capital lending.
This regulatory sea change has to do with one’s familiarity and compliance with the S.A.F.E. Act; and, Consumer Finance Protection Bureau or CFPB rules and regulations pertaining to the Red Flag Rule, Safeguard Rule, Disposal Act, the Patriot Act, OFAC, Anti – Money Laundering, EEOC, FACTA, TILA, ECOA, RESPA, MDIA, FCRA, Debt Collection & Servicing, Privacy, UDAA, Escrow funds, Risk Based Pricing, Leasing, HOePA, and more.
So, ‘WHAT DID YOU MISS this past week?’ Independent (street) MHRetailers and land lease lifestyle community owners/operators, who routinely sell homes on – site in 20 or more states, convened in Davenport, Iowa, for the 2nd National Retailer Summit. This seminal biennial event, planned and hosted by consultant Bill Carr, is a valuable service to the manufactured housing industry and LLLCommunity asset class at large! No one else, corporate or trade association – wise, comes close to providing an opportunity and venue, for these two disparate – yet – now – linked – thru – diversity segments of the HUD – Code manufactured housing industry; to caucus and share Lessons Learned regarding the nature of various financing business models; and, how to be fully compliant with the plethora of state and federal regulations pertaining to chattel finance of new and resale manufactured homes. To maybe secure an ‘invite’ to the 3rd National Retailer Summit, phone (800) 336-0339 and talk to Bill Carr. He was assisted during this National Retailer Summit by Ken & Donna Rishel of Rishel Consulting, and yours truly. Speaking of the Rishels. If you haven’t participated in one of their chattel finance workshops, you should. Find out more by phoning (217) 971-3968.
What was covered? Well, for a complete summary, you’ll have to read the June issue of the Allen Letter professional journal. Phone the MHIndustry’s HOTLINE: (877) MFD-HSNG or 633-4764 to subscribe @ only $134.95/year for 12 monthly issues.
In the meantime, here’s a brief overview of major topics covered during the 2nd National Retailer Summit:
• Identification & review of 18 distinct, but appropriate, financing business models
• Use of Sales Transaction Analysis Forms to document & articulate profitability
• Review of all the aforementioned federal regulations under the CFPB’s authority
• Captive Finance as alternative to traditional independent retail financing of homes
• Introduction to Private Investor Financing of manufactured homes in communities
• Role of matrix and underwriting guidelines to guide one’s home financing efforts
• Review of differing perspectives between MHRetailers & LLLCommunity owners, relative to ‘making $ deals now’ mentality vs. ‘annuity income over time’
How can YOU afford NOT to have been present at such a valuable Open Discussion Learning Opportunity? Hopefully we’ll see you at the next go – round, probably in late October or early November this Fall.
A personal pique, is that NO national MHIndustry advocacy body to date, offers this sort of Open Forum, to and for members, whereby timely and needed practical guidance – in this instance, regarding chattel finance regulatory compliance, is shared! GFA
‘More than A Baker’s Dozen of Excellent Reasons’ to Attend the 22nd Networking Roundtable in Bloomingdale, IL @ 18-20 September 2013!
Here’re Reasons Why Land Lease Lifestyle Community Owners/operators Regard the Annual Networking Roundtable to be the Asset Class’ Preeminent Educational, Interpersonal Networking, & Deal – making Event…
• 20+ contemporary topic & panel presentations in two days; Yes, 20+!
• Maximum interpersonal networking during nine social & meal events
• An Investor’s Symposium for would – be buyers of LLLCommunities
• Inspect & order new Community Series Homes from those exhibited
• Best Deal – making Opportunities ever, for LLLCommunity owners
• Experience a mix of old (circa 2001) & new asset class traditions….
• Learn the key role of our RV/MH Hall of Fame, museum & library
• Learn to create your Brand Marketing Platform, using social media
• Receive 3 new plastic Training Aid cards: ‘5RPs @ Marketing-Sales’
• Meet& Learn from a dozen or more real estate mortgage originators!
• Be exposed to every form of public & private chattel capital finance!
• Consider RV business and sites, to diversity your business model
• Meet Green Hill Financial, Corporate Shield, & other new $ players!
• Time for a Chattel Capital Fund ‘by & for’ LLLCommunity owners?
The brochures for the 22nd annual International Networking Roundtable will initially be distributed with the June 2013 issue of the Allen Letter professional journal, and will also be available on the website: community-investor.com OR, phone the above – referenced MHIndustry’s HOTLINE!
Remember; 18 – 20 September 2013, in Bloomingdale, IL. See you there!
NOW AVAILABLE for the asking!
Land Lease Lifestyle Community’s Official Industry Standard Chart of (Operating Expense) Accounts
Operating Expense Ratios, or OERs!
Veteran LLLCommunity owners/operators have been using the 1992 era Official Industry Standard Chart of (Operating Expense) Accounts, and accompanying Operating Expense Ratios or OERs, for decades. Well, with recent input from ARA MHC Group, a Denver, Colorado – based real estate brokerage specializing in this realty asset class, we’ve recently updated the helpful chart, finally dropping references to the Texas A & M data, and Horner group information, and adding ‘stats’ provided by ARA MHC Group.
Blank column space has been left on the recently revised chart, to facilitate adding even more OER data, hopefully from one or another of the national real estate brokerages also specializing in marketing LLLCommunities nationwide. Anyone listening out there?
Want a FREE copy of this recently revised Official Industry Standard Chart of Accounts & OERs? Simply phone the Official MHIndustry HOTLINE: (877) MFD-HSNG or633-4764 and ask for it. Copies are also being distributed, as lagniappes, with the May issue of the Allen Letter professional journal.
George Allen, CPM & MHM
Box # 47024, Indpls, IN. 46247