Blog # 262 Copyright 2013 8September 2013
Perspective. ‘Land lease lifestyle communities, a.k.a. manufactured home communities & earlier, ‘mobile home parks’, are the real estate component of manufactured housing.’
Purpose of this blog. ‘To be a national Advocacy voice, statistical Research reporter, & communications Resource for LLLCommunities, of all sizes, throughout North America!
Opportunities to respond. ‘Critiques, reactions, & suggestions for future blog coverage: gfa7156@aol.com or Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764.’
I.
What’s the $$$ Buzz About?
Networking Roundtable Set to Celebrate 20 years Camaraderie; ‘Splain’ all ‘bout Chattel Capital Sourcing; Talk of a Private Equity Fund; Promote One’s Brand via Social Media; Examine Good & Bad Realty Deals; Talk to a Dozen+ RE Lenders; &, Learn to Use the ‘5RPs of Marketing’ in Three MH & LLLCommunity Scenarios….
But here today, we’ll focus only on Chattel Capital Sourcing! With permission, I’m quoting from recent email exchanges between one of the manufactured housing industry’s most respected state association executives, and a land lease lifestyle community owner/operator with two decades of hands – on experience, self – financing new and resale home transactions among his properties.
“Yes, ‘stupid money’, especially pertaining to chattel financing available to independent (street) MHRetailers, is likely (Let’s hope!) a thing of the past. However, low interest rates, fewer lending/investing alternatives, tighter credit, more banking regulations, and new willingness on the part of many LLLCommunity owners to truly WORK WITH lenders, appears to be why more (new) lenders are ‘sniffing around’ the manufactured housing industry today. (Some will be at the Networking Roundtable! GFA)
In the meantime, most independent third party chattel lenders (i.e. until recently known as the Big Four + One) or ‘A’ lenders, are apparently doing as much manufactured housing business as they have an appetite for, by focusing on borrowers whose minimum FICO scores are above 650 points. That singular criterion eliminates upwards of 90 percent of those interested in buying new manufactured homes in most all age land lease lifestyle communities! When processing applications for site rent, home rent, or lease – option contracts, LLLCommunity owners generally place more emphasis on front – end & back – end, debt – to – income (or DTI) ratios, employment factors, and rental or criminal histories.*1 In fact, for many LLLCommunity owners/operators, the sole use for FICO scores, is to determine if the applicant should be referred to an ‘A’ lender. (That’s a 180 degree reversal from 20 years ago! GFA)
Furthermore, and confirming the point made in the previous paragraph, severe attrition among independent (street) MHRetailers during the past ten years, and past severe chattel finance losses, suggest the present and future financing ‘play’, these days, may well lie with LLLCommunities, where lenders & property owners form symbiotic relationships, beneficial to all THREE parties involved in a MH finance transaction: the lender or source of capital, the community owner, and prospective homebuyer/mortgagor/site lessee.
To this end, new concepts are being floated to see what gets traction. For example, some involve the purchase of existing chattel notes, and other seller – finance vehicles (e.g. rental and lease – option contracts), and expectation the lender/buyer assumes all risk, citing outrageous cost of funds, @ 15 – 20% per year, to the LLLCommunity owner. Only those note sellers who’re desperate, or holding worthless paper, are likely to be interested; likely resulting, over time, in a potential lose – lose transaction for all involved. (One of several motivations sparking interest in launching a Private Equity Fund. Discussion scheduled at the Networking Roundtable. GFA)
The 21st Mortgage Corporation’s 1 ½ year old C.A.S.H. Program, and the novel in – house finance program offered by Legacy Homes (Texas) are good examples of mutually beneficial relationships much more acceptable to LLLCommunity owners. Both are relatively new and still being tweaked. Word ‘on the street’ is announcements are in the offing, citing significant improvements to both programs – maybe even at the upcoming Networking Roundtable.
Another, mutually beneficial concept being considered for possible rollout, involves a hybrid floor plan program, where floor plan financing routinely provided by a HUD – Code home manufacturer to a MHRetailer (In this case, a LLLCommunity selling homes on – site), is extended to the point when the newly sold home is occupied! This concept is especially appealing to those manufacturers with strong balance sheets, and who are comfortable with the profitability of conventional floor plan financing. (You will only learn about this alternative, at the Networking Roundtable. GFA)
Yet another interesting and recent development, involves new working relationships LLLCommunity owners are establishing with local banks, to fund the acquisition of new homes, and in some cases, effecting the origination and servicing of home mortgages on – site. Various combinations of recourse and underwriting criteria are assuring profitable returns to the lenders; isolation from S.A.F.E. Act licensing for LLLCommunity owners; and, attractive financing for the homebuyer/mortgagor/site lessee. And at least one effort is underway to establish this type ‘small bank’ program throughout an entire geographical region.
Captive finance. This typically refers to either an in – house finance program that originates and services home mortgages, or a separate lending business altogether from the LLLCommunity operation. Since such practices, in the first instance, are prohibited without S.A.F.E. Act licenses, in – house origination/servicing efforts are, or should be, practically non – existent. Other LLLCommunity operations opt for the second alternative. And there are LLLCommunity owners who effect captive finance programs, employing lease – option contracts in states where the use of such arrangements doesn’t require S.A.F.E. Act licenses. An interesting captive finance twist, that likely avoids S.A.F.E. Act licensure, is offered by a few chattel lenders who originate home mortgages, then sell them back to the LLLCommunity owners, while retaining the servicing of said mortgages. And one recent arrival on the third party independent chattel lender scene apparently originates home mortgages on homes sold by the host LLLCommunity, using funds supplied by the property owner per se. (Mr. ‘Captive Finance’ will be presenting at the Networking Roundtable! GFA)
Finally; there’s the old, albeit effective, practice of working with private investors to finance the acquisition of new homes and mortgaging thereof. Millions of private investor accounts, many with balances well over $100,000. actively search, online and off, for practical ways to beat today’s record low ROI opportunities, and the highly volatile stock market. This reality now includes IRA custodians, who routinely include manufactured housing ‘How To’ investing sessions during their annual conferences. (Want to attend one of these? Info available at Networking Roundtable! GFA)
There are even attractive chattel finance alternatives available – in California, when siting solar power energy equipped, highly energy efficient homes. There, LLLCommunity owners are offered a 50% financing purchase option, at low interest, by lenders who believe these specially – equipped, nearly ‘off power grid’ homes are a major WIN WIN for the property owner and the renter or home buyer; in large part, because of major utility cost savings. Last year’s Roundtable featured one of these specialty homes!
Bottom line for LLLCommunity owners/operators in need of chattel capital for new home purchases on – site and mortgaging of same? All is not gloom and doom in this investment arena; there’s more than one ray of bright light shining through to the MHIndustry and LLLCommunity asset class! Most of these ideas – and more, will be formal topics of discussion at the 18 – 20 September Networking Roundtable in Bloomingdale, IL; the Equity Trust annual meeting in Orlando during October; as well as SECO’s Third Annual Super Symposium in Forsyth, GA., 8 – 10 October. Ask, if you want more information….” *2
End Notes.
1. For those reading this blog posting, who’d like to learn more about the calculation of front end and back end debt – to – income (‘DTI’) ratios, read ‘Contemporary Archetype of Affordable Housing in the U.S.’, featured in the August issue of the Allen Letter professional journal, and or chapter six of the new book, The First 20 Years!. Both available from PMN Publishing via the MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. Sample Allen Letter is FREE, or one year subscription @ $134.95 (12 monthly issues). The book is $19.95.
2. SECO Super Symposium is a two day seminar and new home exhibit planned and hosted entirely by land lease lifestyle community owners/operators in the Southeast. Last year’s event attracted more than 150 attendees; more than that expected this year.
***
II.
And That’s Not All That’s Happening!
Here’s a taste of Three Things to On Their Way Now, & or Coming During, & After this Year’s 22nd annual International Networking Roundtable, 18 – 20 September, in Bloomingdale, IL.
* The cover letter and questionnaire, used to research, prepare, and publish the annual ALLEN REPORT, a.k.a. ‘Who’s Who Among Land Lease Lifestyle Community Portfolio Owners/operators Throughout North America!’ is ‘on its’ way’ to 500+/- known firms in the U.S. and Canada. If and when you receive the mailer, please complete it and return to, via FAX (317/346-7158), on or before 30 September 2013 – coincidentally, the date of MHI’s NCC meeting in Carlsbad, CA. The 25th anniversary edition of the annual ALLEN REPORT will be distributed as a lagniappe (FREE) in the January 2014 issue of the Allen Letter professional journal. Otherwise, the retail price of the ALLEN REPORT is $500.00/copy. So, if not presently an Allen Letter subscriber, phone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764 to subscribe @ $134.95/year (12 monthly issues). Being the 25th anniversary year of the ALLEN REPORT, a very special edition is being planned. As a LLLCommunity owner/operators, you will surely want to have a copy to refer to regularly throughout the year 2014 and beyond.
* The Dawning of a NEW ERA, is something more and more land lease lifestyle community owners/operators talk about openly these days. Hard to say when ‘that talk’ began; but in my opinion, it was as far back as 27 February 2008, at the first National State of the Asset Class (‘NSAC’) caucus, held on – site at FountainView LLLCommunity on the west side of Tampa, FL. There and then, more than 100 businessmen and women gathered to collectively plan the future of their realty asset class, agreeing on a Five Point Plan, later elaborated upon at a Networking Roundtable, by Randy Rowe, founder and chairman of Green Courte Partners/American Landlease. To date, no other national forum, with more than 100 LLLCommunity owners/operators in attendance, has provided a like opportunity!
NEW ERA ‘talk’ took on some urgency, a couple years later, when I publicly announced, via the Allen Letter professional journal, plans to retire. The question became: WHO will take on the statistical Research, online and print Communication (weekly blog & two monthly newsletters), peer Networking (annual roundtables & periodic FOCUS Groups), as well as professional Property Management training & certification (via Manufactured Housing Manager® or MHM®) program responsibilities, and hosting of realty deal – making opportunities for land lease lifestyle community owners/operators, large and small, nationwide?
An early attempt to sell some or all these research, communication, networking, and training resources to a national advocacy body failed. And, to date, there’s been little success in identifying individuals with appropriate writing and verbal communication skills, underscored by industry and asset class experience (preferably with ownership cred), and high motivation – no, PASSION, for advancing the cause of affordable housing via manufactured housing and the land lease lifestyle community realty asset class! For that matter, if YOU, or someone you know, characterizes the three point SUCCESS formula of that entrepreneurial job description, let me know ASAP via the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. We are making progress….
NEW ERA talk continues among small to mid – sized LLLCommunity owners/operators nationwide, and may even – though not planned for or scheduled to happen, ‘come to a head’ during, and or immediately following, the NCC meeting, in Carlsbad, CA., on 3 September 2013.
HOW SO? Well, that depends, to large degree, on two groups of land lease lifestyle community owners/operators, and how they decide, with or without my participation – as an elected leader – or not, to implement the following ‘platform’ description of what 50,000+/- LLLCommunities, large and small and nationwide, should expect from a…
‘NEW ERA for land lease lifestyle communities, characterized by these seven functions:
1) effective national political and regulatory matters – related ADVOCACY;
2) ongoing operations statistical RESEARCH & reporting, e.g. annual ALLEN REPORT, RE lenders’ registry, etc.);
3) routine & timely print & online COMMUNICATION via a weekly blog posting & monthly subscriber – supported newsletters;
4) widespread RESOURCE distribution (e.g. Helpful How To Info, various directories, a trade term glossary, & ongoing documented history of the asset class);
5) superb peer NETWORKING at annual Roundtables & Forums, and periodic FOCUS Groups;
6) realty deal – making opportunities;
7) professional property management training & certification, via MHM® & ACM® programs, for properties of all sizes!’
With that said, what groups of land lease lifestyle community owners/operators influence when and how this NEW ERA will emerge?
80+/- direct, dues – paying members of MHI’s National Communities Council (‘NCC’) division, and
36+/- LLLCommunity owners who’ve offered advice and supported the concept of a NEW ERA these past couple years – even though the movement didn’t have a formal name.
So, if YOU own one or more LLLCommunities, and want to influence and bring about an exciting NEW ERA for our unique, income – producing property type – OR express your personal and corporate satisfaction with the present day status quo,
Consider becoming a direct, dues – paying member of MHI’s NCC, by phoning (703) 558-0666 and get involved, by attending NCC meetings in February and June 2014
And or
Phoning the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764, to express your support, and desire to participate during the months ahead.
* Watch your upcoming issues of the Allen CONFIDENTIAL! And Allen Letter professional journal business newsletters for a NEW Signature Series Resource Document, to join the dozen already in place (Think annual ALLEN REPORT, & RE Lenders Registry, and 10 other SSRDs). This one is untitled, but will contain all pre & post HUD annual new home shipment totals, with the latter years tagged in accords with ‘what happened’ that year; which HUD – Code home manufacturers garner more than 80% national market share of manufactured housing; and a brief history of LLLCommunity consolidation, from 1975 to the present day.
George Allen, CPM & MHM
Box # 47024, Indpls, IN. 46247
(317) 346-7156
Blog # 262 Copyright 2013 8September 2013
Perspective. ‘Land lease lifestyle communities, a.k.a. manufactured home communities & earlier, ‘mobile home parks’, are the real estate component of manufactured housing.’
Purpose of this blog. ‘To be a national Advocacy voice, statistical Research reporter, & communications Resource for LLLCommunities, of all sizes, throughout North America!
Opportunities to respond. ‘Critiques, reactions, & suggestions for future blog coverage: gfa7156@aol.com or Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764.’
I.
What’s the $$$ Buzz About?
Networking Roundtable Set to Celebrate 20 years Camaraderie; ‘Splain’ all ‘bout Chattel Capital Sourcing; Talk of a Private Equity Fund; Promote One’s Brand via Social Media; Examine Good & Bad Realty Deals; Talk to a Dozen+ RE Lenders; &, Learn to Use the ‘5RPs of Marketing’ in Three MH & LLLCommunity Scenarios….
But here today, we’ll focus only on Chattel Capital Sourcing! With permission, I’m quoting from recent email exchanges between one of the manufactured housing industry’s most respected state association executives, and a land lease lifestyle community owner/operator with two decades of hands – on experience, self – financing new and resale home transactions among his properties.
“Yes, ‘stupid money’, especially pertaining to chattel financing available to independent (street) MHRetailers, is likely (Let’s hope!) a thing of the past. However, low interest rates, fewer lending/investing alternatives, tighter credit, more banking regulations, and new willingness on the part of many LLLCommunity owners to truly WORK WITH lenders, appears to be why more (new) lenders are ‘sniffing around’ the manufactured housing industry today. (Some will be at the Networking Roundtable! GFA)
In the meantime, most independent third party chattel lenders (i.e. until recently known as the Big Four + One) or ‘A’ lenders, are apparently doing as much manufactured housing business as they have an appetite for, by focusing on borrowers whose minimum FICO scores are above 650 points. That singular criterion eliminates upwards of 90 percent of those interested in buying new manufactured homes in most all age land lease lifestyle communities! When processing applications for site rent, home rent, or lease – option contracts, LLLCommunity owners generally place more emphasis on front – end & back – end, debt – to – income (or DTI) ratios, employment factors, and rental or criminal histories.*1 In fact, for many LLLCommunity owners/operators, the sole use for FICO scores, is to determine if the applicant should be referred to an ‘A’ lender. (That’s a 180 degree reversal from 20 years ago! GFA)
Furthermore, and confirming the point made in the previous paragraph, severe attrition among independent (street) MHRetailers during the past ten years, and past severe chattel finance losses, suggest the present and future financing ‘play’, these days, may well lie with LLLCommunities, where lenders & property owners form symbiotic relationships, beneficial to all THREE parties involved in a MH finance transaction: the lender or source of capital, the community owner, and prospective homebuyer/mortgagor/site lessee.
To this end, new concepts are being floated to see what gets traction. For example, some involve the purchase of existing chattel notes, and other seller – finance vehicles (e.g. rental and lease – option contracts), and expectation the lender/buyer assumes all risk, citing outrageous cost of funds, @ 15 – 20% per year, to the LLLCommunity owner. Only those note sellers who’re desperate, or holding worthless paper, are likely to be interested; likely resulting, over time, in a potential lose – lose transaction for all involved. (One of several motivations sparking interest in launching a Private Equity Fund. Discussion scheduled at the Networking Roundtable. GFA)
The 21st Mortgage Corporation’s 1 ½ year old C.A.S.H. Program, and the novel in – house finance program offered by Legacy Homes (Texas) are good examples of mutually beneficial relationships much more acceptable to LLLCommunity owners. Both are relatively new and still being tweaked. Word ‘on the street’ is announcements are in the offing, citing significant improvements to both programs – maybe even at the upcoming Networking Roundtable.
Another, mutually beneficial concept being considered for possible rollout, involves a hybrid floor plan program, where floor plan financing routinely provided by a HUD – Code home manufacturer to a MHRetailer (In this case, a LLLCommunity selling homes on – site), is extended to the point when the newly sold home is occupied! This concept is especially appealing to those manufacturers with strong balance sheets, and who are comfortable with the profitability of conventional floor plan financing. (You will only learn about this alternative, at the Networking Roundtable. GFA)
Yet another interesting and recent development, involves new working relationships LLLCommunity owners are establishing with local banks, to fund the acquisition of new homes, and in some cases, effecting the origination and servicing of home mortgages on – site. Various combinations of recourse and underwriting criteria are assuring profitable returns to the lenders; isolation from S.A.F.E. Act licensing for LLLCommunity owners; and, attractive financing for the homebuyer/mortgagor/site lessee. And at least one effort is underway to establish this type ‘small bank’ program throughout an entire geographical region.
Captive finance. This typically refers to either an in – house finance program that originates and services home mortgages, or a separate lending business altogether from the LLLCommunity operation. Since such practices, in the first instance, are prohibited without S.A.F.E. Act licenses, in – house origination/servicing efforts are, or should be, practically non – existent. Other LLLCommunity operations opt for the second alternative. And there are LLLCommunity owners who effect captive finance programs, employing lease – option contracts in states where the use of such arrangements doesn’t require S.A.F.E. Act licenses. An interesting captive finance twist, that likely avoids S.A.F.E. Act licensure, is offered by a few chattel lenders who originate home mortgages, then sell them back to the LLLCommunity owners, while retaining the servicing of said mortgages. And one recent arrival on the third party independent chattel lender scene apparently originates home mortgages on homes sold by the host LLLCommunity, using funds supplied by the property owner per se. (Mr. ‘Captive Finance’ will be presenting at the Networking Roundtable! GFA)
Finally; there’s the old, albeit effective, practice of working with private investors to finance the acquisition of new homes and mortgaging thereof. Millions of private investor accounts, many with balances well over $100,000. actively search, online and off, for practical ways to beat today’s record low ROI opportunities, and the highly volatile stock market. This reality now includes IRA custodians, who routinely include manufactured housing ‘How To’ investing sessions during their annual conferences. (Want to attend one of these? Info available at Networking Roundtable! GFA)
There are even attractive chattel finance alternatives available – in California, when siting solar power energy equipped, highly energy efficient homes. There, LLLCommunity owners are offered a 50% financing purchase option, at low interest, by lenders who believe these specially – equipped, nearly ‘off power grid’ homes are a major WIN WIN for the property owner and the renter or home buyer; in large part, because of major utility cost savings. Last year’s Roundtable featured one of these specialty homes!
Bottom line for LLLCommunity owners/operators in need of chattel capital for new home purchases on – site and mortgaging of same? All is not gloom and doom in this investment arena; there’s more than one ray of bright light shining through to the MHIndustry and LLLCommunity asset class! Most of these ideas – and more, will be formal topics of discussion at the 18 – 20 September Networking Roundtable in Bloomingdale, IL; the Equity Trust annual meeting in Orlando during October; as well as SECO’s Third Annual Super Symposium in Forsyth, GA., 8 – 10 October. Ask, if you want more information….” *2
End Notes.
1. For those reading this blog posting, who’d like to learn more about the calculation of front end and back end debt – to – income (‘DTI’) ratios, read ‘Contemporary Archetype of Affordable Housing in the U.S.’, featured in the August issue of the Allen Letter professional journal, and or chapter six of the new book, The First 20 Years!. Both available from PMN Publishing via the MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. Sample Allen Letter is FREE, or one year subscription @ $134.95 (12 monthly issues). The book is $19.95.
2. SECO Super Symposium is a two day seminar and new home exhibit planned and hosted entirely by land lease lifestyle community owners/operators in the Southeast. Last year’s event attracted more than 150 attendees; more than that expected this year.
***
II.
And That’s Not All That’s Happening!
Here’s a taste of Three Things to On Their Way Now, & or Coming During, & After this Year’s 22nd annual International Networking Roundtable, 18 – 20 September, in Bloomingdale, IL.
* The cover letter and questionnaire, used to research, prepare, and publish the annual ALLEN REPORT, a.k.a. ‘Who’s Who Among Land Lease Lifestyle Community Portfolio Owners/operators Throughout North America!’ is ‘on its’ way’ to 500+/- known firms in the U.S. and Canada. If and when you receive the mailer, please complete it and return to, via FAX (317/346-7158), on or before 30 September 2013 – coincidentally, the date of MHI’s NCC meeting in Carlsbad, CA. The 25th anniversary edition of the annual ALLEN REPORT will be distributed as a lagniappe (FREE) in the January 2014 issue of the Allen Letter professional journal. Otherwise, the retail price of the ALLEN REPORT is $500.00/copy. So, if not presently an Allen Letter subscriber, phone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764 to subscribe @ $134.95/year (12 monthly issues). Being the 25th anniversary year of the ALLEN REPORT, a very special edition is being planned. As a LLLCommunity owner/operators, you will surely want to have a copy to refer to regularly throughout the year 2014 and beyond.
* The Dawning of a NEW ERA, is something more and more land lease lifestyle community owners/operators talk about openly these days. Hard to say when ‘that talk’ began; but in my opinion, it was as far back as 27 February 2008, at the first National State of the Asset Class (‘NSAC’) caucus, held on – site at FountainView LLLCommunity on the west side of Tampa, FL. There and then, more than 100 businessmen and women gathered to collectively plan the future of their realty asset class, agreeing on a Five Point Plan, later elaborated upon at a Networking Roundtable, by Randy Rowe, founder and chairman of Green Courte Partners/American Landlease. To date, no other national forum, with more than 100 LLLCommunity owners/operators in attendance, has provided a like opportunity!
NEW ERA ‘talk’ took on some urgency, a couple years later, when I publicly announced, via the Allen Letter professional journal, plans to retire. The question became: WHO will take on the statistical Research, online and print Communication (weekly blog & two monthly newsletters), peer Networking (annual roundtables & periodic FOCUS Groups), as well as professional Property Management training & certification (via Manufactured Housing Manager® or MHM®) program responsibilities, and hosting of realty deal – making opportunities for land lease lifestyle community owners/operators, large and small, nationwide?
An early attempt to sell some or all these research, communication, networking, and training resources to a national advocacy body failed. And, to date, there’s been little success in identifying individuals with appropriate writing and verbal communication skills, underscored by industry and asset class experience (preferably with ownership cred), and high motivation – no, PASSION, for advancing the cause of affordable housing via manufactured housing and the land lease lifestyle community realty asset class! For that matter, if YOU, or someone you know, characterizes the three point SUCCESS formula of that entrepreneurial job description, let me know ASAP via the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. We are making progress….
NEW ERA talk continues among small to mid – sized LLLCommunity owners/operators nationwide, and may even – though not planned for or scheduled to happen, ‘come to a head’ during, and or immediately following, the NCC meeting, in Carlsbad, CA., on 3 September 2013.
HOW SO? Well, that depends, to large degree, on two groups of land lease lifestyle community owners/operators, and how they decide, with or without my participation – as an elected leader – or not, to implement the following ‘platform’ description of what 50,000+/- LLLCommunities, large and small and nationwide, should expect from a…
‘NEW ERA for land lease lifestyle communities, characterized by these seven functions:
1) effective national political and regulatory matters – related ADVOCACY;
2) ongoing operations statistical RESEARCH & reporting, e.g. annual ALLEN REPORT, RE lenders’ registry, etc.);
3) routine & timely print & online COMMUNICATION via a weekly blog posting & monthly subscriber – supported newsletters;
4) widespread RESOURCE distribution (e.g. Helpful How To Info, various directories, a trade term glossary, & ongoing documented history of the asset class);
5) superb peer NETWORKING at annual Roundtables & Forums, and periodic FOCUS Groups;
6) realty deal – making opportunities;
7) professional property management training & certification, via MHM® & ACM® programs, for properties of all sizes!’
With that said, what groups of land lease lifestyle community owners/operators influence when and how this NEW ERA will emerge?
80+/- direct, dues – paying members of MHI’s National Communities Council (‘NCC’) division, and
36+/- LLLCommunity owners who’ve offered advice and supported the concept of a NEW ERA these past couple years – even though the movement didn’t have a formal name.
So, if YOU own one or more LLLCommunities, and want to influence and bring about an exciting NEW ERA for our unique, income – producing property type – OR express your personal and corporate satisfaction with the present day status quo,
Consider becoming a direct, dues – paying member of MHI’s NCC, by phoning (703) 558-0666 and get involved, by attending NCC meetings in February and June 2014
And or
Phoning the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764, to express your support, and desire to participate during the months ahead.
* Watch your upcoming issues of the Allen CONFIDENTIAL! And Allen Letter professional journal business newsletters for a NEW Signature Series Resource Document, to join the dozen already in place (Think annual ALLEN REPORT, & RE Lenders Registry, and 10 other SSRDs). This one is untitled, but will contain all pre & post HUD annual new home shipment totals, with the latter years tagged in accords with ‘what happened’ that year; which HUD – Code home manufacturers garner more than 80% national market share of manufactured housing; and a brief history of LLLCommunity consolidation, from 1975 to the present day.
George Allen, CPM & MHM
Box # 47024, Indpls, IN. 46247
(317) 346-7156