Warren Buffet recently released his annual letter to Berkshire Hathaway, Inc. shareholders. What was unique this year was that he based his letter on income properties, not his corporate investments. And Mobile Home U has been teaching these same theories for almost a decade.

I was out looking at used cars one day in the early 1980's. As I walked around the auto lot, looking through the window of a convertible, a salesman came up to me and said “what do I have to do to sell you that car today?” That’s a great attitude. It means that the salesman is going to help me make my wish come true if I will only honestly tell him my circumstances and what I need to get in order to close the deal. Mobile homes are not cars, but that same sales pitch can be used for park-owned homes that the Manager is frequently called on to sell.

We are all born with basic skills, but then we rely on our parents and educational institutions to teach us what to do with those skills. And one skill that never seems to be accurately taught in high school, college or by mom and dad is how to be a good landlord. And this causes many real estate investors to either outright fail, or to miss the full potential of their property.

Mobile home parks all pretty much look alike. So why do some make so much money while others not only lose money but also add on a stack of perpetual management problems? The answer is that there are fundamental differences between successful and unsuccessful mobile home parks, and you can only figure out which type of park you are looking at - a winner or a loser - through a complete property inspection, which is typically called "due diligence". Without using due diligence, you are not really investing in a mobile home park as much as you are gambling with your money.

Superbowl XLVIII is over, and it's time for reflection on exactly what happened. Whether you were a Bronco or Seahawk fan, there were some important lessons demonstrated in this year's contest. And they are all apply to the mobile home park industry every day.

There are at least a thousand ways you can invest your money. So why should you put it in mobile home parks? Well, there's a variety of reasons that even the top investors in the U.S. - from Warren Buffet to The Carlyle Group (the biggest private equity group in the U.S.) -- are choosing this industry. And the reasons they are excited about affordable housing are only increasing.

Consulting experts is often a great way to save on the learning curve, and to get off on the right foot. However, not all mobile home park consultants are created equal and, in some cases, they can actually hurt you more than help you. Here are the correct questions you need answered before selecting a consultant for a mobile home park deal.

Mobile home parks are one topic that most Americans are never taught in high school or college - or even heard of unless they seek the subject out. Since they are starting from scratch, it is imperative that most investors be properly trained in the niche before they risk their investment dollars. Like anything else, there is a skill set to being a successful mobile home park investor, and these are skills that you must be taught. So how do you best proceed in obtaining mobile home park investing instruction?

People ask us all the time why, since we're one of the largest mobile home park owners in the U.S. and are extremely bullish on the industry, we don't build new ones. They'll call us with raw land that they want to sell us to build a new park on. The truth is that we would never build a new park from scratch. We don't recommend that anyone does. But now let us explain why that is not hypocritical.

Recently, one of our employees received an email from a valued client. The email said that important information was attached and to open the attached weblink to retrieve it. The employee opened the weblink and found a Google sign in page. The employee was asked to sign into their Google account to get the promised information. The employee did. Next, a message stated that there was a problem and the link couldn’t be opened at this time.

Properly classifying workers as independent contractors or employees is important. For workers classified as employees, whether they are labeled salary or hourly is equally important. In a prior column, independent contractors and employees were defined. This column focuses on whether an employee should be compensated with a salary or an hourly wage.

Several media outlets have recently used my old quote that the mobile home park “is like a Waffle House where the customers are chained to their booths”. However, they have taken the quote completely out of context, and the truth takes the air out of their sensationalism, unfortunately for them. So I would like to set the record straight before anyone else uses it inappropriately.

We all know that media groups have to peddle stories, but not since the prime of Jerry Springer have article titles been so lacking in credentials. Although the writer was unable to insert space aliens into the title, or a sighting of Big Foot, it still contains plenty of fantasy. So let’s break it down into easy, truthful pieces.

The Guardian recently requested free passes to attend our Mobile Home Park Boot Camp, which we happily gave them. We get requests from media outlets all the time, which are gathering information for a story. The Guardian said that they were doing a piece on alternative investments, but we knew better. Still, we like to give any legitimate group the truth about the mobile home park business, so that they can at least get their facts straight about the affordable housing industry. However, this reporter apparently was not paying attention in class, or was trying to make a name for himself. Regardless, there are a few points that need to be made to bring the article into perspective.

America takes pride in the concept of freedom of competition. That's the reason that the Federal Government blocks potential mergers through anti-trust complaints. And the reason that we have laws against unfair competition. We're the country that puts people in jail for price fixing, and even elects our President through freedom of choice. So how in the world did mobile home park owners get such an unfair advantage - the ability to completely avoid free competition and operate in an environment free of competitive forces?

In the past, most lawsuits against small business revolved around bodily injury or tangible property damage. Product liability, slip and fall claims, injured employees and damaged property accounted for most losses. Prudent business practices and traditional insurance are good defenses against these risks. But with today’s rapidly growing computer centric world, that’s changed.

The mobile home park industry has attempted to re-invent itself many times in the past. Unfortunately, it always seems to revolve around just changing its name, and nothing else. And the name change does little to actually accomplish anything of value, but only serves to confuse people on a product that is already chock full of misconceptions. So here's an analysis of why the "land-lease" name is not the greatest idea.

New Court rulings and Federal laws are opening the door to allow a parade of dogs and other animals onto your property. In many instances, either the Americans with Disabilities Act (ADA) or the Fair Housing Act (FHA) give your tenants the right to keep a dog or other pet even though your community rules would otherwise prohibit such. Disabled people may request that they be allowed to keep "service animals" and "emotional support animals." Presuming the tenant and animal meet the proper definitions, community management must allow the animal to stay. A "service animal" is defined as a dog that is trained to do work or perform tasks for a person with a disability. "Emotional Support Animals" are broadly defined as any animals, whether trained or not, which provide emotional support and alleviate symptoms of a disability.

Here are two conflicting things lawyers often say. The first is, "You better have it in writing." Many contracts must be in writing to be enforceable, particularly if they last longer than six months, involve real estate, or are for more than $500. Having an agreement in writing helps clarify any terms which may cause confusion. The second is, “If only my enemy had sent me a letter.” When this happens, you can now prove your adversary’s thoughts with their own words. There’s no better evidence than that. This article is about the beauty of not putting it in writing.

If you have been worried about America’s spending binge not resulting in action, here’s some fine news. The Federal government is putting your money (actually, much of the money is borrowed) to work. A $138 million federal employee compliance worksite enforcement effort is underway in 2013. Federal agents are tasked with verifying that employers fully comply with 21 different federal labor laws. Even the smallest companies must comply with some of the laws and are audit targets. In short, your company’s chances of being audited have increased.

Business owners Mobile Insurance serves often ask me whether to report a loss to their insurance company. Payment of any part of a claim is in the short term best interest of the client. However, some claims may result in a lower payout than the additional future insurance premiums charged by an insurance company because of the reported claim. Therefore, the key question is whether you will receive more benefits for this claim than you will be charged in future additional premiums.

Whether you’re Republican or Democrat, there are some issues that are not in question. One is that we are facing a growing element of America that cannot afford traditional housing options. There are 10,000 people PER DAY who are retiring and converting to living on meager social security and tiny pensions. The average retiring American worker will be living on around $2,000 per month. And the number of American families living on $30,000 per year or less is now around 50% of our total population. It doesn’t matter who wins the election, the surge of demand for low-cost housing is going to continue to grow far greater than the supply can possible absorb.

I was surprised to learn recently, 75% of all civil matters filed in the U.S. are employment related. The average settlement of these claims is $40,000. In 10% of the cases that go to trial, the judgment exceeds $1,000,000. If you think you are in a solid conservative part of the country where you are insulated from these claims, know that good ol’ Texas has more employment law lawsuits than any other state.

Being served with a lawsuit is no fun. For many, it’s scary and confusing. A lawsuit (aka: Petition/Complaint/Claim for Relief/etc.) is a legal document that outlines someone else’s complaints against you. It’s a one sided story that may not have any basis in reality. Take a deep breath. Don’t panic. Here’s a plan.

The latest track shows Hurricane Isaac to be a Category 1 storm that will track through the New Orleans area then N, NW all the way through northern LA. This will likely affect our clients in Hammond, Gonzales, Alexandria, Denham Springs, Houma, Prairieville, Alexandria, Opelousas, Morgan City, Monroe, LA and South and Eastern Mississippi. Here's Ten key recommendations: