George Allen « George Allen / EducateMHC Blog

October 13, 2013

New SSRD & More #s & $s from MHI Mtg.

Filed under: Uncategorized — George Allen @ 4:14 am

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 the national advocacy voice, statistical research reporter, & communication resource for LLLCommunities, of all sizes, throughout North America!’

Ways to respond: ‘Critical responses & helpful ideas for future blog coverage, via email gfa7156@aol.com or Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764.’

COMING SOON: ‘From Park to Community & Beyond…’

II.

Updated & New ‘Signature Series Resource Documents’ in November issue of the Allen Letter professional journal!

III.

More #s & $s from MHI’s Annual Meeting, Carl$bad, CA.

***

COMING SOON: ‘From Park to Community & Beyond…’

‘Contemporary Archetype of Truly Affordable Housing in the U.S.’ didn’t start out to be ‘the defining document of what’s good & not-so-good about HUD – Code manufactured housing (finance), and its’ realty component, land-lease-lifestyle communities’, but that’s what it’s becoming! How so? Not long after it was published as a feature in the Allen Letter professional journal, and shortly before being showcased in chapter # 6 of Bruce Savage’s new book, The First 20 Years!, a national realty finance publication picked it up, to eventually make a major statement regarding our industry’s chattel finance imbroglio, and its’ effect on land-lease-lifestyle communities nationwide.

During the negotiation stage of this international publication opportunity, the question kept coming up, ‘To be consistent, what term should we use to describe this realty asset class that’s, heretofore, been associated with HUD – Code manufactured housing?’ That’s when the decision was made to begin researching, and now soon publish, a second article in what’s become a three part series, this one tentatively titled, ‘From Park to Community & Beyond…’

Most of the work is done. The retrospective traces this unique realty asset class’ terminology from “…trailers and trailer camps or parks; in the 1960s & early 70s, mobile homes & mobile home parks; from the late 1970s through 1980s & 90s, manufactured housing or manufactured homes, & manufactured home communities.” To today’s houses & homes, in general; Community Series Homes or CSH models in particular; and, land-lease-lifestyle communities or simply, communities.

Did you notice? The hyphenation of land-lease-lifestyle communities? Now that’s a very recent adjustment, appearing for the first time right here, suggested by grammarians who were consulted for advice in the matter. You’ll learn more about the adjustment when this second of the three part series of articles is published in an upcoming issue of the Allen Letter professional journal.

The third article? Still in the design stage, though likely to do with a sorry bit of manufactured housing history, finally identified with a label, in Part II of this blog posting.

If you haven’t yet obtained a copy of The First 20 Years!, or need to subscribe to the Allen Letter professional journal, so as not to miss ‘Contemporary Archetype of Truly Affordable Housing in the U.S.’, and ‘From Park to Community & Beyond…’, simply phone the above – referenced Official MHIndustry HOTLINE: (877)MFD-HSNG or 633-4764. In the meantime, get used to ‘land-lease-lifestyle community’, or LLLCommunity in short. It’s an apt word sign for today, and a precursor of our business future.

II.

Updated & New ‘Signature Series Resource Documents’ in November issue of the Allen Letter professional journal!

First the old being updated, then the new. Most readers of this weekly blog posting know there’re – until today, a dozen Signature Series Resource Documents, or in short, SSRDs. These begin with publication of the annual (25th anniversary in 2014) ALLEN REPORT (A.k.a. ‘Who’s Who Among Land-lease-lifestyle Community Owners/operators Throughout North America!), in January; thru the popular Lenders’ Registry; and, eventually the industry historian’s ‘Paradigm Shifts of Mobile & Manufactured Housing….’, featured in the November issue of the Allen Letter professional journal. For the first time, all SSRDs are published ‘under one cover’ in chapter # 5 of Bruce Savage’s new book, The First 20 Years! Got your copy yet?

There’re two significant adjustments afoot. This year’s update of the industry’s paradigm shifts, designates years 1998 thru 2000 as being manufactured housing’s Enronesque Period. For readers who ‘lived & worked’ through that troublesome period in our industry’s history, you know ‘why’. If not, suggest you go back and reread ‘Upside Down in a Mobilehome Park’, an expose’ published in the July 2000 edition of the Allen Letter. (Phone 317/346-7156 for a FREE copy of the article if need be.) Then the label will make more sense; as enronesque (an adjective), is generally defined as relating to accounting methods meant to deceive, e.g. Business owners are cautioned to ’avoid Enron-esque Retirement Plans.’

The second significant adjustment – or in this case, addition, to the SSRD identifying paradigm shifts, has to do with announcing year 2014 as the start of a NEW ERA for land-lease-lifestyle community owners/operators, large and small, nationwide! This has to do not only with LLLCommunities becoming an increasingly cash business, given the difficulty securing chattel capital for qualified new/resale homeowners, and finding qualified prospective homebuyers; but other apt reasons as well. For the interesting details, read the October issue of the Allen Letter professional journal! And no further information here, until after NCC’s Fall Leadership Forum in downtown Chicago later this week.

The new, #13 SSRD? As yet unnamed; but an expansion on manufactured housing and LLLCommunity data and statistics contained in the highly popular Industry Briefing Sheet complement to information published online by the Manufactured Housing Institute. This new SSRD, tentatively titled ‘Past & Present Statistics, Trends & Consolidations throughout the HUD – Code Manufactured Housing Industry & Land-lease-lifestyle Community Real Estate Asset Class, during Two Distinct Periods in MHIndustry & LLLCommunity History: pre – HUD Code & post – HUD Code’. Some of this timely and salient statistical data is available nowhere else! Watch upcoming issues of the Allen Letter professional journal for the debut of this new and informative #13 SSRD.

III.

More #s & $s from MHI’s Annual Meeting, Carl$bad, CA.

$6.95 for a candy bar and $5.95 per minutes of online time, in the resort/spa’s business center. That’s how I’ll remember my two day visit at LaCosta, the high – priced site of MHI’s annual meeting a couple weeks ago.

Already told you, in last week’s blog posting, for the first time in four or five years, MHI finally attracted more than 100 (actually 116 per registration list) attendees! Of that number, there were at least 25 state manufactured housing executives present – the most highly represented segment of the MHIndustry – and for good reason. Why? Ask them.

And where land-lease-lifestyle community owners/operators are concerned, there were approximately nine ‘owners’ & eight ‘operators’ listed, but only seven of each category could be accounted for during the National Communities Council meeting on 30 September. Also interesting that eight ‘new’ NCC members were identified as having joined the division since the last (‘closed’) NCC meeting in February of this year, while 10 members resigned – plus at least one more since the aforementioned ‘rejected proxy’ election that day , for a net loss of three. Bottom line? After 17 years of representation and advocacy in behalf of an estimated 50,000 LLLCommunities nationwide, total NCC membership count continues to languish at ‘less than 100’ individuals and corporations.

Here’s a triplet of interesting $ facts. Given MHI’s 2014 preliminary operating budget of slightly more than $2,000,000., the manufacturers’ division is expected to contribute 60 percent of that amount in dues (floor fees) – DOWN from the 75+ percent, of decades past; and, the NCC is expected to contribute 17% of the total amount – UP from 0%, 17 years ago when there was no NCC division – and that’s from fewer than 100 direct, dues – paying members! Makes one wonder how the political complexion at MHI might/would change, if/when LLLCommunity owners/operators saw enough VALUE to join the institute en masse. For example, 400 NCC members dues (Versus the fewer than 100 members today!) would likely equal or exceed the 60 percent expected of manufacturers today. Hmm. Perhaps said VALUE would be recognized and appreciated if and when 1) timely & useful research (e.g. annual ALLEN REPORT), 2) helpful resources (e.g. 12, now 13 SSRDs!), 3) print & online communication (e.g. pithy newsletters every month, along with blog postings – like this one, every week), 4) superb peer networking & deal – making opportunities (e.g. annual Networking Roundtable & periodic FOCUS Groups), along with 5) a professional property management education & certification program (e.g. Manufactured Housing Manager® with nearly 1,000 MHMs® already in place), exists and thrives, supplementing national advocacy efforts already in place!

However, with ‘big property portfolio players’ now in control of our collective future, for yet another year, don’t look for ALL that to happen anytime soon; certainly not within the confines of existing national trade bodies. The end game? Whether this Measure of VALUE will eventually be adopted within said entities, or be forced to continue, in a ‘for profit’ or ‘not for profit’ manner, elsewhere?

Oh, by the way, there were far more insurance firms and executives present at this year’s MHI annual meeting than there were independent ‘street’ MHRetailers.

A Final Thought. If you’re planning to attend the NCC’s Fall Leadership Forum in downtown Chicago this week, make and take along a copy of Part III of this blog posting; and Be Prepared & Gutsy Enough, to enter the VALUE measure into group discussion at the appropriate time – if there is an appropriate time! Who knows, YOU alone might be the catalyst to alter the very nature and timing of the aforementioned ‘NEW ERA for land-lease-lifestyle community owners/operators, of all sizes, nationwide’, in the offing for year 2014. Are YOU up to the challenge? I’ll be there to support you! GFA

***

George Allen, CPM®Emeritus, MHM®Master
Box # 47024, Indpls, IN. 46247 (317) 346-7156

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October 3, 2013

Setting Bully Stage for ‘Next 20 Years’?

Filed under: Uncategorized — George Allen @ 3:42 am

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.’

Setting the Bully Stage for ‘The Next 20 Years?’*1

– OR –

Sculpting, figuratively speaking, a New Mt. Rushmore in Chicago

Ever get the feeling you’re ‘being played’ by someone, even a friend, perhaps a national advocacy body, for reasons other than those stated or presumably obvious? Well, that’s the sense I’ve been pondering since ending last week’s highly successful 22nd annual Networking Roundtable*2, and now looking ahead to this mysterious Fall Leadership Forum hosted by the Manufactured Housing Institute’s (‘MHI’) National Communities Council (‘NCC’) division.*3

To begin with, what national trade body needs ‘yet another meeting’, scarcely two weeks after its annual membership meeting? However, that strange scenario started making some sense, as I read Ken Rishel’s feature, ‘NCC Fall Leadership Forum & the Building of Mt. Rushmore’ in the September issue of his free online newsletter, Manufactured Housing Chattel Finance.*4 Are you a subscriber? You should be!

On The Surface; Rishel suggests industry leaders will “…discuss the future of land lease communities and, in no small part, the future of the manufactured housing industry itself.” Really? I’ve been in receipt of the same promotional mailings as Ken, and nothing seen or read to date, suggests such a grand and timely scheme. So, is he right, wrong, or have something else in mind?

Below The Surface; Ken drops hint after hint of turmoil, disunity, and cliquishness between and among various MHIndustry & LLLCommunity asset class leaders. He suggests the Fall Leadership Forum might be the place to unify, and bring peace and prosperity back to our collective business and advocacy dealings. I think not; for reasons cited in these paragraphs. Here’s the first one: ‘Have Danny Ghorbani and key members of the Manufactured Housing Association for Regulatory Reform (‘MHARR’) been formally invited to participate in this event? Without them, there is no unity!

The full and true story of this Mt. Rushmore – like sculpting saga begins eight months ago, when the NCC chairman convened a ‘closed meeting’ during MHI’s annual Legislative Conference, in Arlington, VA – attended only by his executive committee and a few friends. To date, there’s been NO public disclosure of what transpired during that secret meeting – except for some vague but unrealized plans for the future of the NCC. But it’s obvious; the upcoming Fall Leadership Forum is one expensive fruit of that shrouded session. The forum agenda? Phone MHI and ask; while you’re at it, inquire who the unnamed presenters are, besides Sam Zell?*5 Knowing that, would help some decide whether to attend or stay away. Again, per Ken Rishel’s article, this Leadership Forum might be – could be, akin to preparing the bully foundation for, figuratively speaking, sculpting a new Mt. Rushmore – this time in downtown Chicago.

So, is this grand future planning exercise, if indeed that’s what it is, for the manufactured housing industry and LLLCommunities, the sole or dual purpose of the Fall Leadership Forum? Methinks not! Quiet, behind the scenes maneuvering during the past eight months, including a plethora of hot – & – cold personal relationships, suggests something more elusive, even pervasive is afoot. Maybe even eventual usurping of ‘for profit’ LLLCommunity research reporting, resource distribution, print & online communication, peer networking & deal – making opportunities, as well as property management training & certification, by either Chicago area portfolio owners/operators of this unique, income – producing property type – or a national advocacy body. Let’s look further and deeper into these two suppositions, one at a time…

Political influence in the Illinois state capitol, Springfield and beyond? Well, it’s a – happening. First, the (needed) purging of staid, lackluster leadership from the Illinois Manufactured Housing Association. This was accomplished at that body’s annual meeting this Spring. Now political influence is being wielded in a new, refreshing and aggressive fashion, presumably for ‘the good of the manufactured housing industry & land lease lifestyle community asset class’. And what better way to solidify that emerging state of affairs, and sustain lobbying momentum, than to pressure Illinois businessmen and women to participate in this upcoming, extravagantly expensive Fall Leadership Forum? Furthermore; anyone want to bet whether raising money for state and national PAC funds will be part of the three day agenda?

Ensuring LLLCommunity owners/operators, of all sizes, from coast to coast, continue to receive the research reporting, resource distribution, print & online communication, peer networking & deal – making opportunities, as well as the property management training & certification services they’ve enjoyed for the past 30+ years, has become an issue of some importance these past few years. When MHI failed in its’ bid to acquire even a few of those unique products/services (i.e. rights to the annual Networking Roundtable, ALLEN REPORT, Lenders’ Registry, and exclusive 500+/- name portfolio contact data base.*6), all sorts of alternative succession vehicles have been proposed, but not effected to date. Scheduling this Fall Leadership Forum, less than a month after the aforementioned, highly successful 22nd Networking Roundtable, and in the very same host city, is – in this industry observer’s opinion – an obvious indicator the NCC is inclined to at least attempt to usurp this valuable educational, peer networking & deal – making opportunity. What’s next? Depends on the whim of the next elected chairman of that body and MHI.*7

Personally. What’s been most troubling about this quasi ‘sculpting process’, of the past eight months, has been the duplicity exhibited by friend and foe alike, among some within the manufactured housing industry, and a few – though certainly not the majority – of the largest size LLLCommunity portfolio players! But then, I suppose secret proceedings (e.g. Aforementioned February 2013 NCC meeting), behind closed door strategy sessions, and – worst of all, undisclosed personal, corporate, and trade body ‘double dealing agendas’ (e.g. Using elected office for personal or corporate gain, where access to selective resources – legal and otherwise, are concerned) trend in that duplicitous direction. If necessary, reread previous paragraphs.

Historically. This ‘sculpting process’ is NOT the way 19 (then) manufactured home community owner/operator pioneers Set the Stage on 31 August 1993, for national advocacy birthed and matured during the 20 years between 1993 & 2013! So, why do today’s leaders Set their Bully Stage, in the secret manner just described, selectively involving (i.e. by dint of high meeting participation costs) just the wealthiest and most successful businessmen and women from throughout the MHIndustry & LLLCommunity asset class? For a refreshing reminder of how leadership used to function, read Bruce Savage’s The first 20 Years!

Will what transpires at this Fall Leadership Forum sculpt the next 20 years of manufactured housing and its’ land lease lifestyle community component, between 2013 & 2033? OR, will the resulting grand scheme simply implode on itself – or, as a Mt. Rushmore – like sculpture, break apart, per missteps just described?

***

End Notes.

1. A play on the title of Bruce Savage’s new book, The First 20 Years!, published by PMN Publishing, Franklin, IN., 2013. Available via the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764 for $24.95 postpaid

2. 22nd International Networking Roundtable drew more than 220 land lease lifestyle community owners/operators, & their preferred lenders, from 25 states.

3. NCC annual meeting @ 30 September in Carlsbad, CA., and NCC Leadership Forum in Chicago on 16 – 18 October 2013. For more information, phone (703) 558-0666 – and tell Jenny Hodge, ‘George Allen suggested I call….’

4. To sign up for a free subscription, phone (217) 971-3968 – and tell Ken, ‘George Allen suggested I call….’

5. Besides resource @ end note # 3, phone (703) 558-0678

6. Reportedly, $55, 000 paid over a five year period, and requiring a ‘non – compete agreement for life’ from GFA Management, Inc., dba PMN Publishing & George Allen.

7. This blog manuscript was prepared prior to MHI’s annual meeting in Carlsbad, CA., @ 9/30 & 10/1/2013. During that event, attended by 116 MHI members – according to the distributed attendee list, it was formally announced the next annual meeting, in 2014, would occur during the same time frame as the 23rd annual International Networking Roundtable….

George Allen, CPM & MHM
Box # 47024, Indpls, IN. 46247

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September 29, 2013

Four Announcements & Several Pithy Thoughts

Filed under: Uncategorized — George Allen @ 4:59 am

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.’

Four Announcements & Several Pithy Thoughts…

25th Anniversary ALLEN REPORT questionnaire deadline is 30 September
500 land lease lifestyle community (a.k.a. manufactured home community) portfolio owners/operators have been surveyed! FAX completed questionnaire to (317) 346-7158. The 25th AR debuts 1/1/2014 in the Allen Letter professional journal. Subscribe via the MHIndustry HOTLINE above.

II.

‘First public discussion to plan a Private Equity Fund, geared to support LLLCommunity owners purchasing new and resale manufactured homes, was held 19 September, at the Networking Roundtable in Bloomingdale, IL. More than 50 participated & 20 completed a survey gauging their interest.’ Contact: mnainvestments@comcast.net and garykenner@msn.com

III.

Susan McCarty & George Allen announce Community-Investor’s ‘not so quiet role anymore’, as Buyer Consultant Representative, for qualified and motivated investors, intent on acquiring one or more land lease lifestyle communities (a.k.a. LLLCommunities). Phone (317) 889-6465 &/or smc4464@sbcglobal.net This, a special, quiet, personal service for 20 years!

IV.

‘Champion Home Builders opens second plant in Lake City, FL., to Meet Growing Demand’ for HUD – Code homes! The Redman brand “…Riverview series (of home designs)… will target homebuyers seeking cost – effective housing options in manufactured home communities.” See these and other Community Series Home models, on display, at the upcoming SECO event, 8-10 October. Contact spencer@roane.com for details. This 100% LLLCommunity owner planned & hosted regional show has become the ‘must attend’ manufactured housing venue of Fall 2013!

‘NEW ERA for land lease lifestyle communities (to be) characterized by national political & regulatory advocacy, statistical research reporting, timely print & online communication, monthly distribution of 12 helpful resources, superb peer networking & realty deal – making opportunities, as well as professional property management training & certification, for communities of all sizes, nationwide!’ Read of progress here, following MHI’s National Communities Council meetings on 9/30 & 10/16 – 18/2013.

VI.

From MHARR’s Washington Update, 23 September. “Vanderbilt – GNMA Sole Source Contract to Service FHA Title I Manufactured Housing Loans Raises Questions & Concerns”…

”…GNMA was willing to take ‘a second look’ at the ’10-10’ criteria and potentially revise downward, based on more recent loan performance information; and had specifically requested such information from industry finance companies and their Washington, D.C. representation in 2010, but received no response. While it’s positive the MHIndustry has a qualified lender (Vanderbilt) under the existing rules, the disproportionate influence of it, and other lender(s?) shaping the industry’s consumer finance policies in Washington, D.C., should be a concern for the entire industry.” (Lightly edited. GFA) There’s much more to this story. Phone (202) 783-4087.

VII.

Did you know? ‘Expensive national meeting venues ensure the most financially successful businessmen and women, and high – salaried executives, retain continued primary control regarding which trade advocacy matters are addressed, and how and by whom.’ That truism played out recently, when a grassroots member of one national advocacy body recommended New Business items for a national meeting agenda, and was told they had to be pre – approved by the division’s chairman. Hmm. Makes one wonder whether a bevy of proxy votes will be accepted or rejected next time there’s a national election of officers? Guess we’ll soon see….

***

George Allen, CPM & MHM
Box # 47024, Indpls, IN. 46247.

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September 22, 2013

Networking R’table Success; NEW ERA Redux

Filed under: Uncategorized — George Allen @ 4:35 am

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 Resource 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.’

Roundtable Begins New Manufactured Housing Tradition!

II.

Fall Meeting Schedule Mucked Up All the More…

III.

A Contrarian View of NEW ERA Dawning for LLLCommunities?

IV.

25TH ALLEN REPORT will be distributed 1 January 2014, as a lagniappe in that month’s issue of the Allen Letter professional journal, if YOU return your completed land lease lifestyle community questionnaire by 30 September, via (317) 346-7158

***

Roundtable Begins New Manufactured Housing Tradition!

And that’s not all it did – not by a long shot. If you’re reading this, and are an owner/operator of land lease lifestyle communities, you missed ‘the big one’! How so? Read about the 22nd Networking Roundtable in Bruce Savage’s upcoming lagniappe feature, enclosed with the October issue of the Allen Letter professional journal. Not a subscriber? Phone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764 to do so – today! By the way, Bruce’s story will contain the names & contact information for all 20+/- presenters at this year’s event, making the article a ‘keeper’, for future reference.

‘Celebrating 20 Years of Camaraderie!’ among LLLCommunity owners/operators nationwide, set one heckuva positive, friendly, and productive tone for this year’s 22nd annual Networking Roundtable. That tone was enhanced by YES! Communities’ founder and chairman Gary McDaniel; accompanied by distribution of Bruce Savage’s new book, The First 20 Years! to everyone present. And the icing on the 2 ½ day legacy cake was sweetened by the presence of the chairman and executive VP of the RV/MH Heritage Foundation’s Hall of Fame, Museum & Library in Elkhart, IN. Indeed, ‘History Was All Over the Place!’ at this year’s venue….

Traditions. Given 22 years of history behind it, it’s not surprising to learn there’re at least four such commemorations are in place every time LLLCommunity owners/operators from throughout the U.S. come together for their annual Networking Roundtable. Two of them have been in place since the event was postponed in 2001 due to the ‘911’ national tragedy. To this day, every Roundtable event begins with the audience standing and reciting the Pledge of Allegiance to the American flag! And Friday morning, at 7AM one to two dozen Roundtable participants gather for an informal prayer meeting for our nation and its’ leaders.

The other two traditions? One’s unusual and one isn’t. During the first session of every Roundtable, everyone – usually around 200 individuals, stands and introduces themselves to the entire group. And that’s how the Networking bets jump – started! Then, throughout the 2 ½ day event, someone representing the Manufactured Housing Institute or MHI, usually Rick Rand, ACM, from Great Value Homes in WI., collects thousands of dollars for the institute’s PAC Fund. Maybe not a ‘tradition’ in some folk’s eyes, but surely is where LLLCommunity owners/operators are concerned.

This year’s New Tradition? ‘A Toast to the Community Owner!’ was composed, and first shared publicly, on 23 August 2010, in honor of the late Bud Zeman, a Chicago multi -community owner. At that time 24 of his peers came together for dinner at the famous Rosewood Restaurant in Rosemont, IL., to socialize and honor Bud’s memory. Since then, the poetic toast has been slightly revised and embellished. It goes like this:

Until every homesite is filled, and every bill paid.
With mortgage refinancing approved and dollars on the way.
We’ll ply this trailer trade, selling & financing affordable homes, factory made,
Knowing lesser men truly fear this business we embrace with our peers.
‘So, to community owners everywhere, I offer this toast to our worthy trade’:
“May hitches hold, site rent flow, and all our homes be sold!”

Hopefully, the public offering of ‘A Toast to the Community Owner!’ will become usual fare, a tradition, at every venue where land lease lifestyle community owners/operators gather.

II.

Fall Meeting Schedule Mucked Up All the More….

Three meetings have come and gone, one has been postponed. Yet there’s still at least 14 national, regional, and some special statewide ones to occur before 8 November 2013. Whew! Why do we do this to ourselves?

29 September – 1 October @ MHI’s annual meeting in Carlsbad, CA. (703) 558-0678. If you’re a direct, dues – paying member of MHI, make it a point to attend yet another high – priced venue.

30 September, 1:45 – 3:45PM @ MHI’s National Communities Council meeting, also in Carlsbad, CA. (703) 558-0666. As we’ve hinted before, ‘a NEW ERA for land lease lifestyle communities’ might begin at this ‘first full membership meeting of the NCC in a year’! If you missed reading the NEW ERA Mission Statement in last week’s blog posting at this web site, go back and review it before attending the NCC meeting.

8 – 10 October @ 3rd annual SECO Super Symposium in Forsyth, GA. (865) 385-9675. This is ONE MEETING THIS FALL I’ll sorely miss – that I HOPE YOU ATTEND! Why? It’s been planned, and will be hosted, 100% by LLLCommunity owners/operators – and no one else. It’s replete with timely seminars on cutting edge topics (e.g. Where & how to find chattel $ capital for home sales on – site, and much more), PLUS there’ll be at least eight new HUD – Code homes on display! What other manufactured housing trade show this Fall can boast such as program? NO ONE! Oh, and it’s, by far, the most cost effective (i.e. economical) regional/national venue this Fall!

9 October in Indianapolis, IN., IMHA/RVIC’s annual (luncheon) meeting. Not a regional event, but one that generally manages to attract a fair share of national talent relative to the RV/MH sister industries. (317) 247-6258.

10 – 11 October. MHC of Arizona meeting and seminars in Tucson, AZ. (470) 345-4202. Susan Brenton has planned this venue to be ‘land lease lifestyle community – heavy’, with emphasis on the ‘5 – RPs of Marketing’, relative to new and resale home sales on – site, and the leasing of rental homesites via: RIGHT Product, Place, Price, Promotion, People!

15 – 17 October @ WMA’s annual convention & expo in Reno, NV. (916) 448-7002, and talk to Sheila Dey. Does this state association ever bring anyone in from outside California to interact with their members?

15 – 19 October @ Institute of Real Estate Management’s Leadership Conference in Scottsdale, AZ. (312) 329-6000. Frankly, this event should see several dozen LLLCommunity owners/operators in attendance each year, but there’s rarely more than a handful – that’s how far afield, as a realty asset class, we are from embracing professional property management. How many Certified Property Managers® do you have on your regional and executive level property management staff?

16 – 18 October @ MHI’s National Communities Council division’s Leadership Forum in downtown Chicago, IL. (703) 558-0666. Sam Zell is the publicized draw for this high – priced meeting. Will be interesting to see what transpires at this ‘second NCC meeting in little more than two weeks time’, and where none of the presenters’ names and credentials have been made public to date. Wonder why?

17 & 18 October @ Legacy Homes’ first of two sequential plant shows in Fort Worth, TX. Mark Ledet via (817) 632-3351. Why is this cited as a national or regional event? To highlight the fact this HUD – Code home manufacturer, unlike its’ competitors, is routinely reaching out to market new homes to land lease lifestyle community owners/operators. They were well – represented at the Networking Roundtable a month earlier, as well.

20 & 21 October @ Legacy Homes’ second sequential plant show in Fort Worth, TX. Mark Ledet via (817) 632-3351. Guess if you missed the first one – by being in downtown Chicago at the NCC’s Leadership Forum, you can catch this one. And know there’re celebrity guests at both events.

23 & 24 New York Housing Association’s annual meeting at Turning Stone Resort in New York. (518) 867-3242. Talk to Nancy Geer. Not one of Nancy’s usual Super Symposium events, this time around; maybe next year.

29 October @ Michigan MHAssociation’s annual meeting, featuring that entity’s possible entry into the world of for – profit financing of manufactured housing, recreational vehicles, self – storage facilities, and more. If a Michigan businessman or woman, phone Tim DeWitt for info: (517) 349-3300X18

5 – 7 November @ London Computer’s annual Rent Manager® Conference on Marco Island, FL. Primarily for Rent Manager® users. Contact regional sales rep for details and an ‘invite’, if qualified. Here too, I’ll be covering the ‘5 – RPs of Marketing’ new and resale manufactured homes on – site in LLLCommunities, and leasing of vacant rental homesites.

5 – 8 November @ Urban Land Institute’s Fall Meeting in Chicago, IL. Manufactured Housing Communities Council or MHCC, to meet during that time frame. Randy Rowe of Green Courte Partners is co – host of ULI’s meeting. Sam Zell, again, is a guest speaker.

So, how much of this mucked – up Fall schedule of mostly MH – related meetings will you be attending? I’m planning to be present of six of them. See you there! GFA

III.

A Contrarian View of NEW ERA Dawning for LLLCommunities?

Last week’s ‘Status Quo Slow or Game Changer Quick’ lead posting touched more than one nerve among the blog’s readership. In fact, one might opine, the ‘status quo slow’ folk remain in the driver’s seat.

“The change you promote (i.e. Dawning of a NEW ERA for land lease lifestyle communities), from my perspective is this: ‘LLLCommunity owners to collectively band together? Not Likely! Management companies comprised of LLLCommunity owners to come together? Not Likely! REITs to join together with all other LLLCommunity owners? Not at all likely! Why? Too many are selfish distribution – minded folks living in the past, clinging to old business models, seeking guidance from HUD – Code home manufacturers and MHRetailers – neither of which are ‘solutions ‘for LLLCommunity owners. Heck, they’ve probably never seen a P&L for a LLLCommunity. The LLLCommunity ‘big boys’ (i.e. large property portfolio folk) are consolidating. Why is that? Well, the writing – for ending chattel $ – is on the wall! The future is rentals! How so? Close the GSEs first, then eliminate chattel $, continue to promote elimination of the mortgage interest income tax deduction or cap it, and do away with ‘motor vehicle titling’ for homes going into LLLCommunities. A lead indicator? Hedge Funds now own tens of thousands – or more, rental homes across the country. Hey, just follow the money!” (Lightly edited. GFA)

Too simplistic a view to be universally right? Perhaps. Perhaps not. As we participate in various state, regional, and national MHIndustry & LLLCommunity – related venues this Fall, let’s Make it a Point to Observe, from afar & up close, how often or rarely, various LLLCommunity segments, large and small, identified in the previous paragraph, ‘play well together’ or Not! I’m certainly hearing more ‘consolidation disparity talk’ than ever before – even as We ‘Celebrated 20 Years of Camaraderie!’, at the recent 22nd annual International Networking Roundtable. Perhaps an inclination toward ‘Game Changer Quick’, but don’t get too comfortable with that thought.

For when a well known industry leader tells me, in effect, ‘expensive national meeting venues ensure the most financially successful businessmen and women retain continued primary control regarding which trade advocacy matters are addressed and how’; well, that’s clearly ‘Status Quo Slow’, a long long way from ‘Game Changer Quick’, dontcha think? So, in the weeks and months ahead, to the end of year 2013, Pay Close Attention! ***

George Allen, CPM & MHM, Box # 47024, Indianapolis, IN> 46247

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September 15, 2013

Status Quo Slow or Game Changer Quick, & Mission Statement…

Filed under: Uncategorized — George Allen @ 4:38 am

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 Resource 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.’

‘Status Quo Slow’ or ‘Game Changer Quick’?

II.

NEW ERA Mission Statement for Land Lease Lifestyle Communities!

***

‘Status Quo Slow’ or ‘Game Changer Quick’?

Had a Pithy Topic in Mind & This Title; Then Along Came These Emails…

To this day, I regard Charles (‘Chuck’) Fanaro, developer/operator of beautiful Saddlebrook Farms land lease lifestyle community (A.k.a. manufactured home community) in Grayslake, IL. (West of Chicago), and owner of Hi – Tec Housing, Inc., in Elkhart, IN., (a HUD – Code home manufacturer) to be one of the most visionary entrepreneur businessmen during the 70 year history of HUD- Code manufactured housing!

And lately, I’ve come to regard Steven Lefler, vice president of Modular Lifestyles, Inc., domiciled in southern California, in similar fashion. Steven’s vision and expertise is in the realm of innovative HUD – Code home design, characterized by solar – power off – grid capability and near independence from water resources. Additionally, the firm he works for routinely retrofits functionally obsolete rental homesites, in decades old ‘mobile home parks’ in California, with Solar Green Porch Homes. Reach him via steve@modularlifestyles.com

As the result of a recent exchange of emails between us, I reached out to a couple dozen individuals I consider to be national leaders throughout the HUD – Code manufactured housing industry and the LLLCommunity realty asset class. What follows from here, is a lightly edited version of those email conversations between us, beginning shortly after his reading of last week’s (8 September) blog posting at this website.

STEVEN to GEORGE. There’s an attractive chattel finance alternative available in California, when siting solar power energy – equipped, highly energy efficient homes! LLLCommunity owners are offered a 50% financing purchase option, at low interest rates, by lenders who believe these specially – equipped, nearly ‘off power grid’ homes are a major WIN – WIN for the property owner, as well as the renter or buyer of said home; in large part due to the major utility cost savings.

Furthermore, in California we’re being mandated to have Modular Lifestyle type homes in place by year 2020! We just happened to have designed and developed working HUD – Code homes that fully comply, well before others will be ‘forced to do so’. We are image busters as well, having been recognized as ‘Best in Class’ among retrofitted LLLCommunities, given installations of our innovative, energy efficient housing model.”

Then we banter back and forth about Steven’s plans to incorporate wheel chair lifts into Solar Green Porch Homes; and my ‘decades past’ experience with LLLCommunity portfolio owners/operators in search of ways to keep older, increasingly feeble residents on – site in their properties. And how – due to younger, healthier retired residents’ angst about such ‘new features’, these plans were scrapped. What features? Ramping existing driveways up to door threshold level to ease ingress and egress from vehicles into homes; installation of grab bars, emergency call devices, and wheelchair accessible vanities throughout the home. Why the angst? These features were viewed as unwanted daily reminders of what ‘they’ could expect in years to come – when they became frail and feeble.

Steve then talked and defined Universal Design (i.e. ‘Broad spectrum of ideas meant to produce buildings, products, and environments inherently accessible to older people, those with and without disabilities’) as it related to HUD – Code manufactured homes, citing failures on their part, as he saw it, to be sensitive to changing homebuyer demographics, not having a national brand marketing program, image issues, and the like. It was at this point; I decided to share his forward – looking message with peers in the MHIndustry and LLLCommunity asset class, via blast email, and now this blog posting.

GEORGE to STEVEN. “In a few short paragraphs, you clearly – in my opinion – identify the sorry lack of national and regional market sensitivity (e.g. regarding changing demographics, etc), trend foresight per ‘housing needs’, MHIndustry strategic planning, and more (e.g. national brand promotion, image improvement, etc.), all perennially characteristic of our factory – built housing business model, and in large part, it’s unique, income – producing property type or component as well.

My hope is, one or more of the mostly entrepreneur businessmen and women (receiving this email message & reading this blog posting), will agree with the content of the previous paragraph – and use the type forward – thinking you espouse, maybe even some of the critique I oft voice in our blog and op/ed pieces, to get motivated to finally say collectively:

It’s time NOW, to figure out HOW to bring MHIndustry & LLLCommunity asset class ‘thinkers’ & ‘do’ers’ together in an inexpensive national, retreat style forum – along the lines of two National State of the Asset Class caucuses we facilitated in 2008 & 2009, to finally and effectively address various market, brand, and image matters – in an open, creative, strategic, industry wide fashion! Such a gathering must be Open to all businessmen and women willing to pay a reasonable price to participate, whether a national advocacy body member or not.

I know I’ve often talked about ‘doing this’ in the past, and frankly, if the lions’ share of participants were to be LLLCommunity owners/operators, I’d do so in a heartbeat! But this matter, the way you articulate it – and in truth, the way it must happen, has to involve every major segment of the entire MHIndustry, especially LLLCommunity owners/operators! That’s why such an inexpensive national, retreat style two day venue, maybe even this Winter, must be organized and promoted by One – or the Other, of the two present day advocacy bodies; better yet, both of them working together!

All I can do here is; once again, make the continuing and pressing need for grand thinking, strategic planning, and needed action known; along with the sincere hope this timely Change Challenge Opportunity finally falls on receptive leadership ears. Otherwise, our unique business culture continues adrift – one more reason to believe the MHIndustry will continue on at a snail’s pace of only 50,000+/- new HUD – Code homes shipped per year ad infinitum!

Yet another reason for this ‘stuck in neutral @ 50,000+/- homes shipped’ belief? GSE reform! If pending GSE reform legislation does not contain definitive and mandatory language, to the effect HUD – Code manufactured housing’s chattel mortgage securitization SHALL be included as an integral part of said reform, rather than just saying, ‘may’ be included, we’ll – as an industry, be ‘dead in the water’ going forward – much to the pleasure of our housing competitors, maybe even some folk within the MHIndustry.

Well, I’ve thrown out the Change Challenge Opportunity. Now let’s see if one or more of our MHIndustry Leaders picks it up and, figuratively speaking, Runs with it ‘Game Changer Quick’; or once again, let’s everyone remain stuck in ‘Status Quo Slow’?

II.

NEW ERA Mission Statement for Land Lease Lifestyle Communities!

A NEWER ERA for land lease lifestyle communities (A.k.a. manufactured home communities) will be characterized by 1) effective national political and regulatory matters – related advocacy, 2) ongoing operational statistical research reporting, 3) routine and timely print and online communication, 4) widespread resources distribution, 5) superb peer networking, 6) realty deal – making opportunities, and 7) professional property management training and certification; for properties of all sizes, from coast to coast!

***

George Allen, CPM & MHM
Box # 47024, Indianapolis, IN. 46247

(317) 346-7156

Comments (0)

September 8, 2013

Wha’s the Chattel $$$Buzz All About?

Filed under: Uncategorized — George Allen @ 4:19 am

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.’

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

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.’

What’s the $$$ Buzz About?

End Notes.

***

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.

‘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.

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.

George Allen, CPM & MHM
Box # 47024, Indpls, IN. 46247
(317) 346-7156

Comments (0)

September 1, 2013

Only 18 Days; & Growing Pains = Groaning Pains

Filed under: Uncategorized — George Allen @ 4:00 am

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!

Opportunity to respond. ‘Critiques, reactions, & suggestions for future blog coverage: gfa7156@aol.com or Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764.’

Only 18 Days & Counting….

II.

When Growing Pains Become Groaning Pains

***

Only 18 Days & Counting….

22nd annual International Networking Roundtable,
in Bloomingdale, IL. @ 18 – 20 2013

Here’s how this year’s only national educational, peer networking, and realty deal – making event, designed specifically for land lease lifestyle community owners/operators, is shaping up ‘two weeks out’:

• If you’re ‘in the market’ to acquire LLLCommunities, you’ll be present at Marcus & Millichap’s Investors’ Symposium on Wednesday afternoon. At least three other national real estate brokerages will be present and including their listings among the more than 50 being showcased between 4 & 6PM.

• Gala Reception Wednesday evening is sponsored by Wells Fargo Multi – Family Capital Group. Frankly, ‘anyone who’s anyone’ throughout the LLLCommunity real estate asset class will be present that evening, from 6 – 8PM. It’s a veritable smorgasbord of national leaders, freelance consultants, and legendary players.

• Thursday morning! There’s no more exciting a day than when the Roundtable event begins. At this time, everyone will receive a copy of Bruce Savage’s new book, The First 20 Years!, the most comprehensive list of industry contacts available anywhere in the industry/asset class, and more!

• What other trade event do you attend, during the course of the year and as a matter of course, gives every single person gathered, an opportunity to stand and introduce themselves to the entire audience? This is one of the most popular and enduring features of the annual Roundtable event.

• Since this year’s theme is ‘Celebrating 20 Years of Camaraderie!’, there’s no more fitting a keynote presenter than Gary McDaniel, founder and chairman of YES! Communities, out of Denver, CO. Gary, among his achievements is former chairman of MHI, and before that, of the National Communities Council division.

• The RV/MH Heritage Foundation’s Hall of Fame, Museum & Library will be featured during the second keynote presentation of the day. Most LLLCommunity owners/operators are unfamiliar with this guardian of our industry and asset class’ legacy in Elkhart, IN. This is our opportunity to learn, and to show our support!

• Following this exciting start to the festivities, there’ll be more than a dozen educational seminars and panels Thursday and Friday; covering everything from product branding, electrical code, types of RVs, ‘ROCs’, RE deals good & bad, social media, ‘5-RPs of Marketing’, small owners emphasis, platform purchasing, benchmark statistics, and more.

• Thursday afternoon there’ll be a two hour forum, led by LLLCommunity owners interested in exploring the idea of starting a Private Equity Fund, for the purpose of providing chattel capital to qualified LLLCommunity owners/operators

• Friday morning, following the ever – popular Real Estate Lenders Panel, there’ll be ‘the first ever’ summary of all the chattel capital programs in effect today, from the ‘Big Five + One’ firms to several home manufacturer partnership programs, to online crowd funding, and more.

• At this writing, there will be no HUD – Code homes on display. When I first asked around, I received a lukewarm reception – which surprised me. One would think these firms would jump at opportunities to exhibit Community Series Homes for LLLCommunity owners/operators to buy. Evidently not. Is it possible they’ve simply become complacent at shipping only 50 – 60,000 homes per year?

• Saving the Best for Last, is how participants oft describe the final hour of every Roundtable event. And this year will be no different, as we caucus in the main conference room to engage in discussion regarding industry issues, current trends, and whatever topics LLLCommunity owner/operator participants desire to parse.

Well, there you have it. No fewer than ten major reasons to make your way to Bloomingdale, IL., between 18 & 20 September, to participate in the only annual trade event designed exclusively for LLLCommunity owners/operators and their favorite lenders. For more information and or to register, visit community-investor.com or phone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764.

Postscript. Here’s what a former chief executive of one of the ‘Big 3 C’ HUD – Code home manufacturers (i.e. Clayton, Champion, Cavco), and past MHI chairman penned last week about this year’s 22nd annual Networking Roundtable: “I have a scheduling conflict, so cannot attend even a portion (of the program). It is great you have continued these confabs over the decades! Maybe this is another reason (land lease lifestyle) communities are now the bulk of the remaining (manufactured housing) industry!! Keep up the Good work. Best.”

II.

When Growing Pains Become Groaning Pains

The Historic Love – Hate Relationship Between Independent (street) MHRetailers and Land Lease Lifestyle Community (a.k.a. manufactured home community) Owners/operators is Renewing in Certain Local Housing Markets Across the U.S.

Amidst little fanfare, and even less recognition after the fact, a heterogeneous group of two dozen MHRetailers and LLLCommunity owners/operators gathered, at the invitation of Rainmaker Associates Bill, Judy & Chad Carr, in downtown Chicago, to explore past, present, and probable future interrelationships between these two distinct segments of the HUD – Code manufactured housing industry.

One result of this two day meeting was the drafting and circulation of a formal White Paper titled: ‘Street Retailer & Community Sales Centers’. Specific contributors to said White Paper included the Carrs, Dick Moore of TN, Ken Rishel of IL, Jim Reitzner, MHM® of WI, Greg Harmon, MHM® of OR, and yours truly.

And as opening paragraphs in the White Paper clearly indicate: In the past, “MHRetailers & LLLCommunities…have needed and worked with each other, to varying degrees of success.” However, (they) “…seem to be more at odds today, than ever before.”

The White Paper, in general terms, described the evolution, from ‘infill of vacant rental homesites in LLLCommunities by MHRetailers – during the 1970s & 1980s, to the late 1990s reality – when said retailers, for the most part, became general contractors. As such, they sold and sited ‘more homelike multisection manufactured homes’, a.k.a. ‘big box = big bucks’ units, as land/home packages, head – to – head against site or stick builders working developed ground conveyed fee simple. In effect, MHRetailers abandoned their traditional infill roll with LLLCommunities. And at first, this didn’t matter much, as the average physical occupancy, among LLLCommunities, hovered in the 95% range between 1995 the turn of the century.

When the annual new HUD – Code home shipment rate hit 372,843 units in 1998, another phenomenon began: the conversion of independent (street) MHRetailers into ‘company stores’ via expensive buyout. These previously independent businesses now were managed by salaried staff. This change squelched heretofore entrepreneurial business decision making, that shut off stock housing inventory glutting, when local housing markets were saturated. And anyone (reading this) who was around at the time, knows ‘the rest of the (sad) story’; that when new home markets became overstocked, qualified homebuyer caution was ignored, and in the end, we – as an industry – turned many (some say North of 250,000 deals) customers ‘upside down’ financially.

Well, during the next (almost) decade, roughly 2005 – 2015, the number of MHRetailers plummeted, according to MHI, from more than 1100 nationwide, to 400+/-. So where ‘many were lost’ to the land/home package misadventure; and many ‘independents’ became ‘company stores’; now even more closed their doors, as they were no longer able to secure chattel capital from the quickly shrinking independent chattel finance firms – who eventually became known as the ‘Big Four + One’, and recently, with the addition of Green Hill Financial to the mix, the ‘Big Five + One’.*1 And at the time, LLLCommunity owners/operators too played a role in this enronesque financial debacle, as many offered ‘rent free living’, for a period of time, to attract move – ins to fill, overall, tens of thousands of recently vacated rental homesites, whether they be new, ‘resale’ or ‘repo’ homes.

In a nod to the future, Bill Carr, freelance consultant to the MHRetail segment of the HUD – Code manufactured housing industry predicts the industry’s future will not see a return to 1100 salescenters, but rather a national market dominated by maybe 100 mega independent (street) MHRetailers who’re fully compliant with all state and federal financial regulations, and have relearned how to sell new HUD – Code and modular homes into land lease lifestyle communities, even compete successfully – in some local housing markets – with traditional site builders. But that is only part of the story….

All this (the previous paragraphs) brings us to the present day in MHRetailer/LLLCommunity owner/operators relations. Here’s what we’re hearing from across the U.S.

• From the LLLCommunity owner/operator: ‘MHRetailers have simply forgotten how to sell new HUD – Code homes into our properties! They don’t know us; they don’t know how to ‘sell’ us. My response? What have you, as owner/operator done, of late, to reacquaint local MHRetailers with your property? When was the last time you invited them on – site, say to judge a Home of the Month Contest, or simply to have lunch and ‘talk shop’ with them. Is your literature in full view at the salescenter? And as of 18 September, there’ll be a FREE new training aid available for you to give to them: ‘The 5 – RPs of Selling New HUD – Code Homes INTO LLLCommunities!’ *2 And that’s not all! For the first time in awhile, we’re hearing of disputes regarding protected or inviolable sales territories, granted MHRetailers by HUD – Code home manufacturers – even when said MHRetailer has never, say in a decade, sold a single home into the affected LLLCommunity or communities. Some might call this ‘restraint of trade.’

• From the independent (street) MHRetailer: ‘LLLCommunity owners/operators selling homes on – site ‘Kill & Steal Our Business’! How so? Well, believe it or not – if you haven’t heard this before, it’s not uncommon for property portfolio owners/operators to buy ‘quantities at a time’ of new, often Community Series Homes or CSH Models (Which is to say, smaller multisection or singlesection homes replete with durability – enhancing features. ‘Think about why…’*3), directly from the factory, then sell them at or near cost (minimum profit margin), to make ‘attractive deals’ to get homebuyers/site lessees to move in quickly and ‘Get the ol rent meter a – running again!’ No wonder local MHRetailers are reluctant to send otherwise ‘qualified prospects’ to nearby LLLCommunities to ‘pick out a vacant rental homesite’. They have every reason to believe the on – site sales team will hijack their customer, or the customer will get wind of the ‘better deal’ and switch MHRetailers. And that’s not all! For the first time in awhile, we’re hearing of LLLCommunities ‘closed’ to local MHRetailers; in effect, requiring would be homebuyers/site lessees, to buy their new (sometimes resale) home on – site, before leasing the rental homesite. Some might call this ‘restraint of trade’.

Point in all this? Are the business practices just described a preliminary sign of the manufactured housing industry’s long – awaited recovery? Or perhaps they’re some of the very practices that continue to dog the industry and its’ landlease real estate component; in effect, helping keep us – along with the difficulty in qualifying for chattel capital, at 50,000 – 60,000 new HUD – Code homes shipped each year, when we should be climbing back to the generally acclaimed sustainable shipment level of 250,000 new HUD Code homes per year. What do YOU think about this matter?

***

End Notes:

1. Big Four + One = 21st Mortgage Corporation, CU Factory – built Housing, Triad Financial Services, U.S. Bank – Manufactured Housing Finance, and (Clayton’s in – house) Vanderbilt Mortgage and Finance – and here some would now add (Cavco’s in – house) Countryplace Mortgage, as well as Legacy Home’s in – house lending arm.

2. ‘5-RPs of Marketing’ plastic 3”X 5” wallet cards! There’re two cards, based on the 5 – Ps of Marketing: Right Product, Right Place, Right Price, Right Promotion, Right People! One is designed for HUD – Code manufacturer and independent (street) MHRetailer use, and one for the on – site LLLCommunity salescenter – selling new and resale homes and leasing vacant rental homesites. To request one or both cards, phone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. And while you’re at it, ask yourself: ‘Who Else in the MHIndustry Makes Material Like This Available to Me?’ Don’t call for the card until after 18 September – when they’ll be distributed for the first time, to attendees at the 22nd annual Networking Roundtable in Bloomingdale, IL.

3. ‘Durability – enhancing features’ = plywood vs. particleboard, solid wood cabinets, panel floors vs. carpeting, and more. Most new homes purchased by LLLCommunity owners/operators today, will be used as rental units or contract sale homes. In either event, the expectation – rightly or wrongly – is the home will ‘turn’ from time to time – and the longer time span the better. But there’s more money to be saved ‘up front’, by toughening up the home when manufactured, than to incur the same (e.g. recarpeting) expenses over and over and over again. For a FREE list of Community Series Home features, and the Business Development Managers that sell them, request said list when phoning the above – referenced Official MHIndustry HOTLINE.

George Allen, CPM & MHM
GFA Management, Inc.,
Box # 47024, Indpls, IN. 46247
(317) 346-7156

Comments (0)

August 25, 2013

NEW Opportunity, NEW Paradigm, New Private Equity Fund! & ?

Filed under: Uncategorized — George Allen @ 4:21 am

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!

Opportunity to respond. ‘Critiques, reactions, & suggestions for future blog coverage: gfa7156@aol.com or Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764.’

$$$ EXPECTATION DISCONNECT OF THE YEAR =
a MANUFACTURED HOUSING OPPORTUNITY!

II.

Where Others Fear to Tread…

‘The Question’ & Manufactured Housing’s Past, Present, Future Paradigms.

III.

BERKSHIRE HATHAWAY Home Services Revisited!

IV.

FLASH NEWS
Would YOU Like to Increase Your Cash Flow?

Getting Ready for MHI’s annual meeting
& the NCC division Meeting, 1 October…

$$$ EXPECTATION DISCONNECT OF THE YEAR =
A MANUFACTURED HOUSING OPPORTUNITY!

MONEY magazine recently polled subscribers, and asked this question:

‘What’s Most Important To You When Deciding On a Great Place to Live?’

35% responded, AFFORDABLE HOUSING; followed by 30% wanting top – ranked schools; 21% desiring lots of stuff to do; and, 14%, simply, good, high – paying jobs. (September 2013)

Well, here’s the Disconnect, cited by MONEY, and other news media stories of late:

$214,200 is typical price for a four – bedroom home in the U.S. these days! Nothing ‘generally affordable’ about that unless one is making more than $75,000.00 per year.

What an Opportunity for HUD – Code manufactured housing, and its’ real estate component, land lease lifestyle communities, IF we could get our (National Brand Marketing ) act together NOW or in the near future, introducing the American home – buying public to truly affordable housing & professionally – managed community living!.

Recalling last week’s blog (#259) posting at this website: community-investor.com…

‘Hey, Clayton Homes, Inc., the Manufactured Housing Institute, and Berkshire Hathaway Home Services, are YOU interested in accessing this ‘once in several decades manufactured housing opportunity, just waiting to happen or not? or !

***

II.

Where Others Fear to Tread….

‘The Question’, & Manufactured Housing’s Past, Present & Future Paradigm Answers….

The Question: ‘How Will Land Lease Lifestyle Community Owners/operators Participate Effectively in the Present Paradigm Shift Occurring Throughout the Manufactured Housing Industry?’

This question was posed recently by a housing design consultant, known and respected nationally, for his expertise in breathing new life into old, often functionally obsolete LLLCommunities on the West coast. How would YOU answer the question?

Well, first off, ‘Just what paradigm change is being referenced by the question?

To answer, we must take a look back at 50 years of manufactured housing industry history. While opinions will vary, most MHIndustry veterans would likely agree there’ve been at least two major paradigm shifts to date, and we’re now in the midst of an emerging third. Here’s how they pencil out:

1970s; the Early Heydays. That was when 80+% of new ‘mobile home’ shipments were 80+% ‘singlewides’ destined for placement in new ‘mobile home parks’ being developed from coast to coast, with 20+/-% ‘doublewides’ headed elsewhere and on – site. This first paradigm shift started prior to implementation of the HUD – Code, legislated in 1974 and enforced in 1976. Then followed a 20 year hiatus, where the (now) manufactured housing industry, essentially and effectively, ‘made lemonade (i.e. via performance – based, federally preemptive building code) out of the federal regulatory lemon’ forced upon it.

1990s; the Big Box = Big Bucks days. That was when 80+/-% of new manufactured home shipments were 80+/-% high – priced multisection homes intended for installation on ‘scattered building sites conveyed fee simple’, with 20%+/- singlesection homes placed on rental homesites in nearly full (now) land lease lifestyle communities (a.k.a. manufactured home communities) from coast to coast. This second paradigm shifted during the turn of the century, as a consequence of 1) widespread chattel capital abuse; 2) widespread portfolio consolidation of properties – oft accompanied by too soon, too high site rent increases; and in some regions, 3) tract developers siphoning away the front half of the industry’s traditional market, the ‘newly wed & nearly dead’. Said shift escalated, as independent (street) MHRetailers failed in their bid to compete, as general contractors effecting ‘land & home packages’, against site – built housing stick builders; with some MHRetailers acquired by HUD Code manufacturers and converted into ‘company stores’. And then, factories closed by the dozens. This second paradigm shift has pretty much run its’ course, and we’re now headed into a third one….

2010 and beyond. The new, oft less expensive, single and multisection home mix, trends toward more of the former going onto some of the estimated 250,000+/- vacant rental homesites scattered among 50,000+/- LLLCommunities nationwide. This emerging and different paradigm is characterized dissimilarly from the previous two, in significant fashion.

Today, LLLCommunity portfolio owners/operators, near routinely buy single, even multiple quantities of new HUD – Code homes (When they can’t find good quality resale or ‘repo’ homes to relocate), including specially – designed, smaller Community Series Homes, a.k.a. CSH Models, featuring durability – enhancing features like asphalt shingles, wood cabinetry, non – plastic sinks & tubs, and more. These new homes are utilized either as rental units or sold ‘on contract’, for little or the usual profit margin. More on this in the following paragraph. At this point in time, however, few single property owners actively participate in the purchase and resale of new HUD Code homes on – site, unless they’ve paid down their realty mortgages and have excess cash to invest in this do – it – yourself infill process.

Why and furthermore? Given the steep attrition among independent (street) MHRetailers nationwide (According to MHI, from 1100 down to 400+/- after turn of the century), including company stores, LLLCommunity owners are forced to effect their own infill, to the point of engaging in various forms of self – finance, ‘captive finance’, and manufacturer – partnered finance programs, to consummate on – site, new home sales and resale transactions. And where are the independent, third party chattel capital sources these days? While the heretofore ‘Big Four + 1’ chattel lenders, with the debut of Green Hill Financial, has become the ‘Big Five + 1’, chattel capital remains inaccessible, due to stiff underwriting standards, to the majority of would – be homebuyers desiring to live in LLLCommunities.*1

So, what else characterizes this post 2010, emerging manufactured housing and LLLCommunity paradigm? Besides buying new homes (‘Who’d have thunk it?’, 30 – 40 years ago, when ‘street dealers’ were omnipresent and king?) and self – financing them, there’re additional necessities of 1) ‘making do with what you’ve got’, and 2) ‘installing whatever type housing, permanent and temporary, that can be legally and practically installed on vacant rental homesites’. In the first instance, owner/operators now closely evaluate whether to have vacant (abandoned) homes removed from their property or rehabilitate them, versus incurring the purchase and carrying costs of acquiring, including transportation, newer model homes. In the second instance, the presence of ‘other types housing’ on – site, has become so prevalent across the country, that the 1980s & 90s term of choice, ‘manufactured home community’ is being supplanted with the more accurate, image – enhancing, descriptive handle, ‘land lease lifestyle community’, or in its’ abbreviated form, LLLCommunity.*2

There’s a corollary to this ‘post 2010 paradigm shift’, and it involves taking LLLCommunity – sited homes, new and old, to an enhanced level of energy efficiency, even to the point of removing them entirely, at times, from the local power grid, even most water usage! Think I jest? Here following is the best three part composite summary, of this emerging trend, I’ve read to date. It’s penned by Steven Lefler, VP of Modular Lifestyles, Inc., and lifestyle Services, Inc. Edited and reprinted here with permission:

“…a new product, the ‘Solar Powered Manufactured Home’*3, introduced into existing LLLCommunities, where pre – 1978 homes already exist, may be Key to improving consumer perception and success in achieving greater cash flow, dealing with chattel capital issues, and effecting migration to a mix of existing new rental and contract sale homes.

Furthermore, property owners must move away from street dealers! They, for the most part, ‘have no skin in the game’, when it comes to improving the home product in LLLCommunities, since they continue to offer (in some, if not many cases) cheaply made, not so low cost homes. And the home manufacturers they buy from, appear complacent in their business model, even the status quo of low shipment volume. No one is looking five to 10 years out, where housing Research & Development is concerned.*4

Finally; our younger generation is priced – out of the traditional housing market, suffer high unemployment, and are encumbered with student loan debt. But if they’re to be our target market, for rental, and eventual homeownership, we must find and have the right housing (low price, low cost to live) product! High mortgage debt, and the accompanying mortgage interest deduction, do not make for a good housing market, but rather create housing bubbles and eventual financial losses.”

In a recent (8/13/2013) online article, ‘What makes solar power contagious?’, the writer, Brooke Clark cites a recent paper by two marketing professors, ‘Peer Effects in the Diffusion of Solar Photovoltaic Panels’, to this end: “10 extra solar installations by someone in the same (local housing market) area, increased the incidence of additional solar power by 7.8%, (&) there’s a 10% increase in the number of people with solar panels, in a like area, when solar panel adoption occurs within the same postal zip code.”
So maybe we need to take a closer look at retrofitting existing manufactured homes, and ordering new ones, with solar panels and extreme water conservation devices….

A little more from Steven Lefler. Here’s a self – description that makes one desire to learn more about the contemporary reality of low carbon footprint, off grid, low water use manufactured and modular homes designed for in – LLLCommunity installation.

“…I am the only dealer/builder/community owner/community management company representative, and real estate agent (in the U.S.), diligently working toward proving our company’s 2020 California – compliant manufactured and modular ‘Net Zero’ Homes Work Well For Real People! Our goal is to establish this proven brand, using diverse climate communities as testing grounds, then to subcontract and license out to housing factories, a proven and affordable home model design, for scattered site and in community build – outs. As a company, we’ve been doing this for five years, and remain one of but a handful of home builders to receive the ‘CALIFORNIA ADVANCED HOME’ rebate.. Our motto? ‘If you built it right, they’ll come back to your community!’ “ Reach Steven Lefler by visiting modularlifestyles.com

Well, there you have it. The description of the new paradigm shift in which we now live and work as manufactured housing and LLLCommunity aficionados. And to top it off, there’s the additional challenge of making our already affordable, quality manufactured homes even more energy and water efficient, from end to end.

NOTE. This is one of those rare occasions where every reader should take time to read the End Notes to Part II, located at the end of this blog posting. GFA

III.

BERKSHIRE HATHAWAY Home Services Revisited!

Recalling last week’s blog posting, ‘BERKSHIRE HATHAWAY Home Services, a precursor for affordable manufactured housing?’, know one blog flogger (reader), after perusing the column, forwarded an online article from MODULAR HOME BUILDER, titled: ‘Who Speaks for Residential Modular Housing?’ This was a fascinating ‘read’! Why? Because it turns out the modular housing folk have the same darn shortfall as HUD Code manufactured housing: NO National Brand Marketing effort in place now, or envisioned anytime in the near future!

Here’s the most telling quote from this article: “…there is absolutely No
Nationwide Modular (Brand) Industry Marketing Plan.”

And when this not so rhetorical question was posed, ‘Who speaks for modular housing?’, the writer identified

1) NAHB’s Building Systems Council, commenting. “What is missing from their website is any kind of marketing for residential modular homes.” STRIKE ONE!

2) Modular Building Systems Association. Here the writer pens, “I give this a ranking of three out of 10 on the Modcoach, ‘Excellence in Marketing scale.” STRIKE TWO!

3) MHI’s Modular Housing Council’s website is characterized as “…they offer next to nothing in the way of marketing modular homes to prospective new home buyers.” STRIKE THREE!

For some reason, the writer does not describe the Modular Building Institute. Maybe because this trade body has a commercial structure bent, but it has had residential modular builders as members in the past, if not the present. In any case, residential modular housing, just like HUD – Code manufactured housing, effectively ‘STRIKES OUT!’ when it comes to (Not) having a National Brand Marketing!

Again, is all this surprising or not surprising to you; since many, if not most, HUD – Code home manufacturers also build modular units? Bottom Line: Neither the HUD – Code manufactured housing industry, or the modular housing industry, have a National Brand Marketing program in place, or one even on the drawing board!

Kinda ‘splains’, as a past employer was known to say to me at times, ‘Why factory – built housing, as a whole’ is languishing when it should be vanquishing hi – priced, site – built housing! And until the present day No National Brand Marketing reality changes, given we have two types of quality factory – built housing in hand, ‘housing affordability’ in the United States will continue to go a – begging!

Hey Warren, Kevin, Joe, Nathan, and Danny & John, are you reading, listening, paying attention to what restrains your/our respective factory – built housing business models today? An inquiring national audience would like to know….

IV.

FLASH NEWS

Would YOU Like to Increase Your Cash Flow?

Do YOU have empty rental homesites within one or more land lease lifestyle communities that need filling? Are YOU confident your property has a high local housing market demand for good quality homes, if they were available on – site? And, are you dismayed at the lack of accessibility to competitive chattel capital funding at this time?

Well, we’re a couple land lease lifestyle community owners/operators who’re also tired of the lack of chattel capital financing available for buying and reselling homes into our properties, and want to discuss options and develop some practical solutions! All options are open, including arrangements with financial institutions, manufacturers, even the creation of a private equity fund, to provide such capital to qualified, participating LLLCommunity owners!

We will be at the 22nd annual International Networking Roundtable, 18 – 20 September 2013, at the Hilton Chicago Indian Lakes Resort; specifically, Thursday afternoon, September 19th at 4PM. Specific in hotel location will be announced during the Roundtable earlier in the day. And the forum will be open to anyone interested in participating.

To register for the Networking Roundtable, phone the Official Manufactured Housing Industry HOTLINE: (877) MFD-HSNG or 633-4764.

Note. The creation of a private equity fund has become a topic of lively interest of late. Know that the September issue of the Allen Letter professional journal will feature an article co – authored by LLLCommunity owners/operators also very interested in taking this unprecedented step in manufactured housing industry history.

Getting Ready for MHI’s annual meeting,
& the NCC division meeting, 1 October…

Coming soon. A position paper relative to the National Communities Council division

***

End Notes.

1. Big Five + 1 = 21st Mortgage Corporation, CU Factory Built Lending, Triad Financial Services, Inc., U.S. Bank – Manufactured Housing Finance, and Green Hill Financial. Major regional and national chattel capital sources.

2. Types of housing now found in land lease lifestyle communities: pre – HUD ‘mobile homes’, post – HUD manufactured homes, modular homes (DE & elsewhere), ‘park model RVs’ (i.e. less than 400 square feet in size), ‘RVs for a season’ (seasonal & worker transient populations), even stick – built homes constructed on – site to look like HUD – Code homes (in FL. After hurricanes).

3. Reference to the Quest home (and its’ successors), exhibited at the 21st annual International Networking Roundtable in San Diego, during the Fall of 2012. According to Steve Lefler “… the Quest is a concept and educational tool used to attract people to Newport Pacific’s 80+ LLLCommunities – where the strategy is to position the firm’s communities as ‘Best in their Zip Code’, letting others stagnate in their operations. The purpose of the Quest home was not to sell industry folks, but be showcased at communities, fairs, and expos. There are only nine in existence today.”

4. Steve Lefler goes on to indicate the designers of the Quest home “have perfected a low cost HUD version; however, most are unaware of its’ existence.” This comment was in response to a veteran LLLCommunity owner’s observations after examining the Quest home: “My views are essentially the same as Steve Lefler’s – the economic circumstances of the 20 – 35 year time segment, combined with the sustainability ethic, make a Net Zero manufactured home (i.e. Quest home) the perfect solution. Here’s the problem. The Quest home, exhibited at the Roundtable prices out in the $70K range and is equivalent to the $25,000 HUD code home we just purchased (sans the remarkable energy efficiency). Why the high price? Because it’s a one – off, rather than mass – produced.

***

George Allen, CPM & MHM
Box # 47024, Indianapolis, IN. 46247
(317) 346-7156

Comments (0)

August 18, 2013

Berkshire Hathaway Home Services, precursor for affordable manufactured housing?

Filed under: Uncategorized — George Allen @ 3:52 am

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!

BERKSHIRE HATHAWAY Home Services,
a precursor for affordable manufactured housing?

RISMedia’s REAL ESTATE magazine, for the month of August 2013, describes BERKSHIRE HATHAWAY Real Services as being “…a residential real estate franchise brand…set to invigorate the real estate industry.” P. 3. This is such a grand story, its’ two principals command the cover photo of the magazine, and the Publisher’s Desk column (more about this later) gushes with enthusiasm; this followed by a five page feature story beginning on page 66.

Here’s what the magazine’s publisher has to say about branding in general, and the official launch of the ‘Berkshire Hathaway HomeServices’ brand in particular. All the while, watch for the logical, but as yet unrealized, tie – in to HUD – Code manufactured housing and its’ real estate component, the land lease lifestyle community (a.k.a. manufactured home community)….

Effective branding has always been an important cornerstone of the real estate
business. From the local independent firm to the national franchisor, real estate leaders of all shapes and sizes strive to maximize their brand and thereby create
that all important consumer recognition and loyalty.

That’s what makes the official launch of the Berkshire Hathaway HomeServices
Brand such a big deal. Perhaps enacting one of the most significant branding coups to date, the brokerage network – operated by HSF Affiliates – is banking on the power of Warren Buffet’s Berkshire Hathaway name to bring the concept of real estate branding to a whole new level! (Underlining for emphasis. GFA)

There it is! The potential double tie – in to, and with, HUD – Code manufactured housing and LLLCommunities! If I have to spell it out for you, here goes:

• Branding. HUD – Code manufactured housing has never had really it – thanks to entrepreneurial self interest & perennial internecine squabbling – but ever since Berkshire Hathaway acquired Clayton Homes, Inc., ‘MH branding’ has been on the minds (and in the fears) of manufactured housing aficionados and competitors alike, e.g. ‘When and how will it (MH branding) eventually happen?’ After all, given present ownership of Clayton Homes, Inc., Berkshire Hathaway already commands 48+/- percent of new manufactured housing market share nationwide – even amidst rumors of further soon growth in the Southeast. They’re there (brand positioned), it’s just not their focus – yet. So, if not yet, perhaps in the near future, we’ll see ‘an affordable housing franchise brand’ , or better yet, ‘MH brand’ also launched!

• Real Estate. And, HUD – Code manufactured housing is an inexpensive, quality housing type and affordable lifestyle, already in place, routinely siting new homes on scattered building sites conveyed fee simple, as well as into 50,000+/- multifamily rental properties nationwide! So, it’s but a hop – skip – and – a – jump to envision what a factory – built housing product, brand, and affordability awareness, like ‘Berkshire Hathaway Home Services’, would bring to the manufactured housing industry and land lease lifestyle community realty asset class.

Bottom line? BERKSHIRE HATHAWAY Home Services likely hits its’ realty brand stride during year 2014. And let’s hope a similar ‘affordable manufactured housing franchise brand’ isn’t far behind – whether launched via Clayton Homes, Inc. and its’ parent company; or, on a broader scale, via the Manufactured Housing Institute – and dare I suggest – better yet, a joint national brand marketing effort between MHI and the Manufactured Housing Association for Regulatory Reform!? After all, in the case of the institute, and its ‘Big 3 C’ members: Clayton, Champion & Cavco, they already corner more than 80 percent of the national market share of HUD – Code manufactured housing! So, let’s get the ball rolling together!

We’re already nearly there – but for pernicious self – interest and internecine squabbling, within the institute and between associations. Let’s overcome these bugbears and get on with recovery and a return to profitability! Hey, Warren, you listening? We hope so!

II.

Know What?

There’s more I could, and maybe should, share with you this Sunday morning. But the gist of Part I of this blog posting is important and timely enough to stand on its’ own! How so? Because if YOU buy into what’s penned here, and are not distracted by any other newsy notes and musings that’d otherwise follow in Parts III & IV following, YOU might be motivated to speak out to your state MHAssociation leaders, even our elected and salaried national advocates in and around Washington, DC., telling them

We’ve Waited Long Enough For Them to Wax Creative and Take Definitive Leadership Steps to Resurrect the HUD – Code Manufactured Housing Industry from its’ five year malaise of shipping but 50,000 new homes per year, and head back to the 250,000 shipment mark thought to be sustainable over the long haul!

WILL TELL YOU THIS. Not only are rumors afoot of further consolidation within the home manufacturing segment of the manufactured housing industry, but at least one HUD manufacturer has become so busy of late, in part due to a unique in – house finance program available to land lease lifestyle community purchasers of their new homes, that said firm has reached out to other manufacturer(s) to build new homes to their unique ‘specs’, to be shipped into the secondary manufacturer’s region, to save on freight costs. All this and much more, especially along the lines of ‘creative chattel finance alternatives’ will be disclosed at the 22nd International Networking Roundtable, 18 – 20 September, in Bloomingdale, IL! Registration already eclipses 50+% of the max number of attendees allowed. So, if not already signed – up for the 20+ educational sessions, nine peer networking events, and major realty deal – making opportunity, phone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764 Today!

***

George Allen, CPM & MHM
Box # 47024, Indpls, IN. 46247
(317) 346-7156

Comments (0)

August 11, 2013

Meetings $ & # Expose’, IPOs, & ‘DENSITY’

Filed under: Uncategorized — George Allen @ 3:50 am

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!

Anticipation Passion may be in the $s,
But Participation Proof is in the #s!

II.

IPO Time Once Again
for Land Lease Lifestyle Community Portfolios?

III.

IF NO MORE CHATTEL CAPITAL. WHAT’S NEXT?

***

Anticipation Passion may be in the $s,
But Participation Proof is in the #s!

Amount of event registration fees and hotel overnight room rates oft predict, even presage (i.e. ‘give a warning of’) potential attendance at manufactured housing and land lease lifestyle community (a.k.a. manufactured home community) trade events and meetings. The 2013 Fall lineup of 16 national and regional gatherings, between 5 August & 5 November, offers a unique look into the near future, relative to participation level meeting planners and hosts might expect, based on 1) announced registration fees, 2) hotel overnight rack rates, and 3) past attendance numbers at like events.

For a complete list of the aforementioned 16 national and regional meetings, along with contact information, visit community-investor.com. Left click on the blog icon, then scroll back to blog # 257 and read the list therein.

For a comprehensive list of state MHAssociation meetings and training sessions, visit mhi.org. Left click on CALENDAR, but do NOT expect to find the aforementioned national and regional events listed there; e.g. NO RV/MH Hall of Fame Induction Banquet, NO 22nd annual Networking Roundtable, NO 3rd annual SECO Symposium, NO MHM® training & certification, NOT even ULI’s MHCC meeting! Why the omissions? It’s not like MHI didn’t receive Press Releases at least some of these ‘other events’. If you’re an MHI member, Ask WHY?! The institute either represents all segments of the manufactured housing industry or it doesn’t.

OK, let’s ‘run the $s & #s for four of what might be the biggest, most important national and regional meetings this Fall, where the HUD – Code manufactured housing industry and LLLCommunity real estate asset class are concerned.

• 22nd International Networking Roundtable for LLLCommunity owners/operators, 18 – 20 September, in Bloomingdale, IL. Registration is $395.00 for LLLCommunity owners/operators; resort hotel room rate X two nights = $278.00; and add $100.00 for ‘taxes, fees, miscellaneous’, for an event total of approximately $773.00, plus travel expenses. Last year’s attendance = 240 LLLCommunity owners/operators & their preferred lenders.

• MHI’s annual meeting, including the National Communities Council, 29 September – 1 October, in Carlsbad, CA. Registration is $399.00 for MHI members; resort hotel room rate X two nights = $438.00; and add $100.00 for ‘taxes, fees, miscellaneous’, for an event total of approximately $937.00, plus travel expenses. Last year’s attendance = slightly fewer than 100 MHI members, including only a dozen or so NCC members.

• 3rd annual SECO Symposium, 8 – 10 October, in Forsythe, GA. Registration is only $195.00 for LLLCommunity owners/operators; resort hotel room rate X two nights = $120.00; and add $100.00 for ‘taxes, fees, miscellaneous’, for an event total of approximately $415.00, plus travel expenses. Last year’s attendance = 142 paid registrants.

• 1st National Communities Council Leadership Forum, 16 – 18 October, in downtown Chicago. Registration is $549.00 for NCC members; downtown hotel room rate X two nights = $578.00; and add $100.00 for ‘taxes, fees, miscellaneous’, for an event total of approximately $1,227.00, plus travel expenses. No historical precedent for attendance estimate.

In summary; and given the accuracy of announced registration fees and quoted hotel rack rates, it appears the bottom line ‘per person’ cost to attend each of these four regional/national two day meetings, ranges from a LOW of only $415.00/person at the 3rd annual SECO Symposium in GA; to $773.00/per person at the 22nd annual International Networking Roundtable in IL; to $937.00/person at MHI’s annual meeting in CA; to a HIGH of $1,227/person, at the National Communities Council Leadership Forum in Chicago, IL. – or, in the latter instance, nearly triple what it’ll cost a LLLCommunity owner/operator to patronize the SECO event – where there’ll be six new HUD – Code homes on display!

Tried, albeit unsuccessfully, to resist commenting on the perennial problem of ‘high cost national meetings’ throughout the manufactured housing arena. Know what this wide range of meeting costs suggest (to me)? Someone at the national advocacy level is either 1) insensitive to the difficult economic times member companies and state MHAssociations suffer at present; OR, 2) are well aware of the matter, but also clearly realize how high meeting costs 1) Discourage Participation by anyone other than a few loyal and financially flush businessmen and women, along with high – salaried executives, all who write – off these meeting and hotel fees as deductible business expenses; and 2) Enable & Enhance ‘trade politic control’ for the few who do attend, often at the expense of peers who can’t or won’t waste the money! This is a situation that begs fixing, the sooner the better….

So, is this a new national advocacy association phenomenon? NO; it’s been the manufactured housing industry’s sorry, self – serving reality for decades!

II.

IPO Time Once Again
for Land Lease Lifestyle Community Portfolios?

Following quotes taken directly from the USA Today newspaper; ironically, on the same day the RV/MH Heritage Foundation hosted its’ annual Hall of Fame Induction Banquet, 5 August, in Elkhart, IN. Were YOU one of the 320 recreational vehicle and manufactured housing pioneers and businessmen and women present for this impressive soiree?

Title of the article lead in section B: ‘IPOs are back on the street’

“The world may not be ready for another dot-com boom, but Wall Street is definitely warming up to IPOs again.” (IPO = Initial Public Offering of a firm’s stock to the investing public)

“Companies are lining up to sell shares to the public for the first time, signaling the long – awaited reawakening of the market for initial public offerings might be happening.”

“It’s a strong year for the IPO market”, says Josef Schuster of IPOX Schuster. “It’s the best environment since the mid – 1990s for good companies. It’s amazing.”

FYI. The mid – 1990s, is when three (present day) real estate investment trusts, or REITs, were formed: ELS, Inc., (then MHC, Inc.), Chateau Communities, Inc. (now gone), and Sun Communities, Inc. UMH Properties (then United Mobile Homes) is not included in ‘the three’, as it became a REIT back in the 1980s, during the first such wave. Source of this REIT information? The 24th annual ALLEN REPORT, a.k.a. ‘Who’s Who Among Portfolio Owners/operators of Land Lease Lifestyle Communities (a.k.a. manufactured home communities), available for $500.00/copy from PMN Publishing via the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. OR, for FREE, when subscribing to the Allen Letter professional journal for only $134.95/year (12 monthly issues).

“The clip of IPOs this year is already on the verge of blowing away recent deal activity. There have been 116 IPOs this year, up 35% from this time last year. The number of IPOs is just about to pass the 128 done in all of 2012, and 125 in all of 2011.”

Three reasons, cited by the USA Today article, as to why the IPO market is finally showing signs of life:

The rising broad stock market

The Facebook effect. (After initially spooking investors, Facebook stock has rebounded.)

Strong performance of recent deals.

The article concludes with this warning: “You have to be selective and not just go in and think guaranteed returns.”

Well, with the foregoing in mind, this industry observer reached out to the four large LLLCommunity portfolio owners/operators rumored to be ‘growing & positioning themselves to go public’ in the near future with their own IPOs. Not unexpectedly, there were no replies. But then, that in itself, might be viewed ‘as a reply’. Hmm.

What do YOU think? Are we ready for more REITs in the LLLCommunity real estate asset class? Some would surely say YES to the broadened investment opportunity scenario. Others however, a resounding NO, recalling the out of whack (i.e. ‘out of sync with rent rates of other multifamily rental housing types in the same local housing markets) rental homesite rent rates laid at the feet of REITs formed during the aforesaid ‘second wave’ in the mid – 1990s. Proof? Recall the short – lived REITs now out of the business. See last page of 24th ALLEN REPORT for ‘name & number’ details.

And are we ready to have Wall Street analysts, once again, view our unique, income – producing property type as ‘growth stocks’ (expecting firms to pay a dividend every quarter, as opposed to reinvesting retained earnings for capital projects), rather than ‘value stocks’?

Whatever the case, when the new IPOs start rolling out; remember, you read about it here first!

III.

IF NO MORE CHATTEL CAPITAL. WHAT’S NEXT?

Though it genuinely pains me to say so, with each passing day and waning week, it’s looking more and more like the days of chattel capital financing new and resale homes in land lease lifestyle communities, as we’ve known it for decades, have come to an end. If TRUE, what is next?

Well, just this week, an email message crossed the PCs and desks of some owners/operators announcing the arrival of DENSITY, a.k.a. Legiance’s ‘Game Changer’. DENSITY? It’s an acronym for Develop Every Non – producing Site, Increasing Total Yield! Seriously.

Specifically and according to Dennis Duling, VP at Legiance Investments, Inc., DENSITY is a program “…for any (LLLCommunity) owner who has a community with high vacancy and limited capital.” The program’s sponsor will “…bring significant private capital (i.e. $1 – 10 million) to a community to: 1) renovate vacant homes, if appropriate; 2) bring in new homes to fill empty sites; and, 3) improve infrastructure where needed. In exchange, at the end of a period of two to three years, the community is sold or refinanced in order to cash out our investor(s) and allow Legiance, the investor, and the community owner, to share in the upside.” The deal can be structured as a joint venture or an outright purchase by Legiance. The firm is also agreeable to taking an equity stake in the community in lieu of a complete cash out from a ‘refi’ (refinance).

To be considered for the program, the LLLCommunity must be ‘C’ grade (or some would say 3 Star) or better, contain 60 – 200 rentable homesites, charge a minimum site rent rate of $275.00, have a vacancy level of 30 – 50%, and be able to document ‘solid demand’ in the local housing market.

OK, all that’s kinda the Good News. But keep in mind, this is a new $ program, likely with kinks to be worked out during the days ahead, relative to terminology, methodology, definitions, cited data, and more. If, however, you’re interested in learning more, contact Dennis Duling via (626) 653-2728. NOTE. The preceding is not to be taken as an endorsement of this or any other particular $ program, at this time. GFA

And know what? DENSITY is not the only NEW Program out and about these days. There are at least three HUD – Code manufactured housing factory cooperative home finance programs afoot, as well as budding interest in various manifestations of online crowd funding, and more. That’s why you need to plan NOW to participate in the 22nd annual International Networking Roundtable, 18 – 20 September, in Bloomingdale, IL. WHY? Well, Friday morning, immediately following the ‘always popular & heavily attended’ real estate lenders (loan originators) panel, there’ll be another group participation presentation, led by the most analytical LLLCommunity owner I know, focused on ‘What remains of the chattel capital market & beyond!’ YOU will not find a comparable program, anywhere, anytime, in the U.S. the rest of this year, and well into year 2014! Why? Because no one else is bold enough to take this sensitive, multifaceted subject on, in your behalf!

So, phone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764 today to get Roundtable information and or to register. Also visit community-investor.com online. For specific questions, reach GFA via (317) 346-7156.

***

George Allen, CPM & MHM
Box # 47024, Indpls, IN. 46247
(317) 346-7156

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