George Allen / EducateMHC Blog Mobile Home & Land Lease Community Advocate & Expert

March 16, 2022


Filed under: Uncategorized — George Allen @ 10:28 am

Blog Posting # 681. Copyright @ 18 March 2022. EducateMHC

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ‘mobile home parks’, comprise the real estate component of manufactured housing!

EducateMHC is the online national advocate, realty asset class historian, trend spotter, education resource & textbook supplier for land lease communities throughout North America!

To input this blog and or connect with EducateMHC, telephone (317) 881-3815, email and or visit Previous phone #s no longer connected.

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INTRODUCTION: This week’s posting is chockfull of financial advice, program change, and what a couple of our colleagues are doing with their retirement time and resources. Enjoy! GFA



Did you see or read ‘Making Sound Financing Decisions in a Chaotic World’, penned by Tony Petosa, Nick Bertino, Erik Edwards, and Matt Herskowitz, all loan originators with Wells Fargo Bank?

Well, if not, here’s one of nine paragraphs that were chock full of good & timely advice relative to financing and refinancing land lease communities in today’s hectic investment climate.

“As far as acquisition financing is concerned, most commercial real estate investors recognize cap rates have continued to compress in recent years, particularly among land lease communities, which proved to be one of the most resilient asset classes throughout the COVID-19 pandemic. In order to try to maximize returns, we have seen some borrowers seek out interest-only loans at the highest leverage level possible. However, this type of financing structure in an increasing interest rate environment may be putting one’s property at refinance risk in the future. While 2007 may seem like a long time ago, it is important to remember that many commercial real estate owners at that time, who had taken out high leverage, short-term, interest-only loans, found themselves in quite a bind when those loans matured in a more conservative lending environment with higher rates. It is worth keeping the tough lessons learned from the last downturn in mind as we head into what may be an increasing interest rate environment.” (lightly edited. GFA)

To receive your own copy of the complete document, reach out to Also nick.bertino, erik.edwards, and matthew.herskowitz – all at Tell them ‘George Allen sent me!’



Here’s how the Press Release begins: “For nearly two decades, Prosperity Now, first as CFED (‘Corporation for Enterprise Development’), has housed the Innovations in Manufactured Homes (‘I’M HOME’) program…the nation’s leading resource for manufactured housing policy education, programming, communications, and events.” And here’s how the Press Release kinda ‘ends’: “Over the next few months, we will transition the program to the Lincoln Institute of Land Policy, a nonprofit, private operating foundation that seeks to improve quality of life through the effective use, taxation, and stewardship of land.”

Research into the Lincoln Institute of Land Policy finds it was founded in 1946 and is headquartered in Cambridge, Massachusetts. But more important, to manufactured housing aficionados, is the reality this institute is one of 20 members of the Underserved Mortgage Market Coalition – a coalition urging FHFA and both GSEs (Fannie Mae & Freddie Mac) to improve their loan performance (availability) serving families presently not in the traditional mortgage market. This includes elusive home-only mortgages needed by prospective buyers of manufactured homes being sited within land lease communities.

Next Step and ROC USA are the only two manufactured housing and land lease community-related organizations that I saw, presently among the 20 members of the Underserved Mortgage market Coalition. Neither MHI or MHARR are included among the coalition membership, and probably for good reason. (?)

As a personal aside, I’ve read the Lincoln Institute of Land Policy magazine for many years and have always viewed it, based on editorial and subject content, as a quasi-academic magazine sans a social and financial activist presence. Perhaps this is about to change as they seek to improve the quality of life for folk in need of chattel capital to finance their purchase of a manufactured home. Guess we’ll have to wait and see….

And this sidebar. When I googled ‘Innovations in Manufactured Homes’, guess what popped up ahead of Prosperity Now’s program? Innovations in Manufactured Homes – Clayton Homes. No surprise there, really, as Clayton has long been a leader in innovative manufactured housing.



So, what do land lease community owners/operators do when they retire? Some become world travelers, others sportsmen (hunters), some novelists, while still others take on altruistic and service projects of one sort or another. To that end, Charles Irion’s new mystery/adventure novel landed on my doorstep recently. And given the war turmoil in Ukraine these days, I was pleased to see ‘one of our own’ step forward to assist in unique rescue operations.

‘Murdered by Gods – Timbuktu’ is Irion’s latest novel and I’m looking forward to getting started on it. This is his 16th book, featuring a heady mix of fiction and non-fiction works over the past few decades. And know what? I already know it’s going to be a good ‘attention getting’ read! I’ve watched his wordsmithing and style improve with each book, and the last few have been difficult to put down until the end. Google Charles Irion and order his books via

Then there’s Anne-Marie Wiseman. Remember her? She helped grow a land lease community portfolio a while back, managed it for years, and retired when the properties sold. Well, if you were present at the Networking Roundtable in Colorado Springs in 1999, you’ll recall Anne-Marie being present with two Borzoi Russian Wolfhounds, now generally referred to as being The Borzoi. Well, she’s director of the National Borzoi Rescue Foundation-International, working out of Florida. And just within the past couple weeks, she’s arranged for the rescue of several Borzoi from the Ukraine. To reach and support her efforts, telephone (844) NBRFZOI; better yet, email her via

Know of other recent retirees who’re doing something interesting, charitable, adventuresome or in service to society? Let me now via

George Allen, CPM, MHM

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