In this episode of the Mobile Home Park Investing Podcast, Kevin shares the mic with Andrew Lanoie; Founder and Principal of Park Place Communities and Four Peaks Partners based in Scottsdale, Arizona.
Andrew’s background is markedly different from most investors, originally holding a career in artist management in the entertainment industry of SoCal.
After the 2008 financial meltdown and seeing his parents lose significant wealth however, Andrew began to seek answers to why this happened to better shield himself from future events.
Andrew now manages a portfolio of manufactured home communities across the country, and is passionate about fostering a team around Park Place Communities and Four Peaks.
[7:18] At what point did Andrew get interested specifically in Manufactured Home Communities?
[9:59] What have been the biggest changes Andrew has observed in the MHP market?
[17:05] What was Andrew’s first MHP deal like?
[21:52] What is Andrew’s thoughts on Park Owned Homes?
[32:14] What’s Andrew’s long-term strategy?
[35:31] Andrew’s final closing thoughts.
In this episode of the Mobile Home Park Investing Podcast, Kevin shares the mic with Kurt Kelly; Mobile Home Insurance Expert based in Texas.
Often times, insuring your investment property will not come through a large insurance house like State Farm. There are many special cases mobile home park owners will need to account for in order to ensure all bases are covered.
Kurt goes through the list of 10 major pitfalls park owners face when choosing insurance, and how to deal with them.
[7:07] What is Kurt’s background?
[12:29] What is the first biggest mistake park owners make when finding insurance?
[22:34] Is there a point where you can actually overinsure?
[39:20] What is Data Breach and Discrimination coverage?
[51:22] Kurt’s final words of wisdom
When purchasing a new mobile home park, You will inevitably face many objections from sellers before reaching a close.
In this episode of the Mobile Home Park Investing Podcast, Kevin and Charles discuss the Top 10 Objections they’ve faced in their years of experience acquiring parks, along with how to handle each one.
[2:09] #1: Capital Gains Taxes
[8:39] #2: Income Loss
[14:49] #3: Property Burden
[18:12] #4: Tainting Reputation
[21:17] #5: Unfinished Business
[26:35] #6: Losing Purpose
[31:25] #7: Skewed Reality
[42:29] #8: Employed Family Members
[45:55] #9: Seller wants you to Pay for Upside
[55:43] #10: Price is too low
In this episode of The Mobile Home Park Investing Podcast, Kevin shares the mic with DJ Pendleton, Executive Director of the Texas Manufactured Home Association.
The Texas Manufactured Home Association is one of the most active and oldest manufactured home associations in the country, tasked with passing laws favorable to its parties and repelling laws that hurt members of its association.
Aside from serving as the lobbying arm representing mobile home community owners and their manufacturers, DJ also helps to provide resources and conferences beneficial to its members.
[3:03] What is DJ’s background?
[3:47] What is the history of the TMHA?
[7:32] How can community owners stay on top of local laws?
[13:48] How was the North Carolina Association able to get around local ordinances?
[20:01] How did the Texas Association come through for victims of Hurricane Harvey?