The Mobile Home Park Mastery Podcast

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Welcome to the Mobile Home Park Mastery Podcast where you will learn how to identify, evaluate, negotiate, perform due diligence on, finance, turn-around and operate mobile home parks! Your host is Frank Rolfe, the 5th largest mobile home park owner in the United State with his partner Dave Reynolds.

Considerations When A Manager Wants A Raise: Episode 289

America is in a labor tsunami in which it’s harder to find and retain workers than ever before. In this environment, many mobile home park owners face the reality of managers asking for more money. But should you give in to their demands? In this Mobile Home Park Mastery podcast, we will review how manager compensation works and share thoughts on navigating this new reality.

Listen To Episode 289

The Science Behind Selling $70,000 Singlewides: Episode 288

Mobile home prices have nearly doubled since the advent of Covid, and that has put a stress test on selling “trailers”. However, many mobile home parks continue to sell new homes despite the higher prices. In this Mobile Home Park Mastery podcast, we’re going to make some observations on what is needed to sell a $70,000 mobile home in today’s market.

Listen To Episode 288

The Playbook On Bank Failure: Episode 287

The collapse of Silicon Valley Bank – the second largest in U.S. history – may be ushering in a new era of banking collapse. In this Mobile Home Park Mastery podcast, we’re going to scientifically review the risk of mobile home park loans and explore some of the lessons I learned from the 1987 Texas Savings and Loan Crash.

Listen To Episode 287

Unlocking The Roots of A Sense of Community: Episode 286

A few years ago Time magazine declared that “mobile home parks are the gated communities of the less affluent” and raved about their strong sense of community. In this Mobile Home Park Mastery podcast we’re going to drill down on the origins of that sense of community and what park owners can do to foster a stronger bond between residents.

Listen To Episode 286

Off-Site Vs. On-Site Managers: Episode 285

As the mobile home park industry evolves, owners are constantly pondering not only what the new role of community manager is becoming but also the necessity of them living on-site. Larger parks have allowed for on-site or off-site manager possibilities for years, but smaller parks have been relegated to strictly on-site options. However, those lines may be blurring. In this Mobile Home Park Mastery podcast, we will examine the issue of off-site vs. on-site managers.

Listen To Episode 285

Why Credit Scores Don’t Mean Much In Affordable Housing: Episode 284

Mobile home lenders set very low expectations on customer credit scores yet enjoy very low default rates. This seems to be contrary to all the physics of extending credit but it’s supported by fact. In this Mobile Home Park Mastery podcast we’re going to dig deeper into the topic of why a low FICO works just fine when it comes to customers buying mobile homes.

Listen To Episode 284

The Limits On Grandfathering Protection: Episode 283

Even though all cities hate mobile home parks, they tolerate them because of property laws governing legal non-conforming use – also known as “grandfathering”. But not all mobile home parks share that protection. In this Mobile Home Park Mastery podcast, we’re going to review the attributes that make a mobile home park at risk and without “grandfathering” rights.

Listen To Episode 283

Building A Firewall: Episode 282

Owning a mobile home park is a noble calling, but you must protect yourself from the residents you are trying to help. While 99% of park customers are wonderful people, there is that 1% that want to take advantage of your role as the owner to try to borrow money, harass you, get out of rules violations, get your manager fired – basically try to drive you nuts. The solution is to build a firewall between your customers and you. In this Mobile Home Park Mastery podcast, we’ll go through the simple steps to do just that.

Listen To Episode 282

The Many Similarities Between Mobile Home Parks And Dollar Stores: Episode 281

Mobile home parks have always been viewed as the lowest-cost form of housing while dollar stores serve that same niche in the retail sector. Yet there are many more similarities between “trailer parks” and “Dollar Tree” than meets the eye. In this Mobile Home Park Mastery podcast, we’ll review the similarities and why both businesses are underappreciated – a fact that’s about to change.

Listen To Episode 281

Navigating Wrap Notes: Episode 280

With interest rates up significantly, some sellers may propose a construction called a “wrap” in which you leave the existing mortgage intact as part of the deal. But does that work? In this Mobile Home Park Mastery podcast we’re going to review the good and bad aspects of this deal construction and discuss methods to mitigate the risk.

Listen To Episode 280

There’s Nothing Uplifting About Lift Stations: Episode 279

When a mobile home park sits lower than the city’s main sewer line, the only way to get the property’s sewage pushed upstream is with a “lift station”. Yet many mobile home park buyers don’t know what these are, how they work, and what the dangers are. In this Mobile Home Park Mastery podcast we’re going to drill down on this unique feature of many communities to understand the fine points to buying and operating a “lift station”.

Listen To Episode 279

Life Isn’t Fair: Episode 278

Webster’s defines “fair” as “impartial and just, without favoritism or discrimination”. And obviously, based on this definition, life in 2023 will not be “fair”. In this Mobile Home Park Mastery podcast we’re going to review the unfair opportunities that are out there, how to take advantage of them, and why there’s nothing morally wrong in doing so.

Listen To Episode 278

Snow, Wind And Thermal Zones: Episode 277

We all know the government enacted the HUD SEAL program back around 1976. But are you aware there's some other requirements that HUD placed on mobile homes that are important that you be aware of? This is Frank Rolfe with the Mobile Home Park Mastery podcast. We're going to talk about snow loads, wind loads, and thermal zones.

Listen To Episode 277

Addressing The Elephant In The Room: Episode 276

It’s pretty clear that we’re heading for a U.S. recession in 2023. So what will that do to the mobile home park industry, and what are the statistics from the 2000 and 2007 recessions to support these observations? That’s the goal of this Mobile Home Park Mastery podcast: to dissect what the 2023 recession may look like and what the impact might be.

Listen To Episode 276

Sharing Is Not Always Caring: Episode 275

When you have two mobile home parks in the same basic market, you always wonder if you would be better off hiring one manager to supervise both or having two separate managers to do the job. The concept of “sharing” management is not restricted to just mobile home parks, as many other industries have tested and employed it. However, mobile home park manager “sharing” has its own unique issues to consider. That’s the topic of this Mobile Home Park Mastery podcast.

Listen To Episode 275

The Impossible Job of Being Both Good Guy and Bad: Episode 274

Mobile home park managers have an extremely difficult role. They are supposed to wear two hats: 1) the nice person and 2) the tough person. This is extremely confusing to residents and often fails to accomplish what you desire as the owner. In this Mobile Home Park Mastery podcast we’re going to explore why this is not a healthy situation for your property and offer tips on giving the manager a more clear role in the community.

Listen To Episode 274

Protecting Your Community in a Lawless America: Episode 273

America is at a breaking point on crime. It’s rampant, the system is overwhelmed, and in many states the judicial system itself has become dysfunctional. In times like these it’s up to the community owner to help to make their property the safest it can be. Not through adding expensive security personnel, but instead by enacting common sense strategies and enhancements to the mobile home park that help to deter and report crime when it occurs. That’s the focus of this Mobile Home Park Mastery podcast.

Listen To Episode 273

What If Interest Rates Never Come Down?: Episode 272

Interest rates have skyrocketed around 4 points in 2022 – the largest jump in 40 years. While interest rates typically run in cycles, what if they never return to earlier levels and these new rates are not a fad but the new norm? In this Mobile Home Park Mastery podcast, we’re going o discuss the ramifications of these higher rates and project the impact if they never go down again.

Listen To Episode 272

The Impact of Higher 30-Year Single-Family Mortgage Rates: Episode 271

Mortgage rates are now at 7.25% which is about double from where things stood in January. What impact does this shocking news story have on the mobile home park industry? In this Mobile Home Park Mastery Podcast we’re going to discuss the many byproducts of higher home mortgage rates – most of which are positive by nature and reflective of U.S. megatrends.

Listen To Episode 271

New Life For Old Trailers: Episode 270

For over a decade –from the moment that financial institutions popped up to finance new and used mobile homes– older park-owned units were often relegated to the scrap heap. But the soaring price of new and slightly used homes has rekindled the notion of bringing many of these formerly doomed homes back to life. In this episode we’re going to discuss the building blocks to determining if an old home could or should be salvaged and tricks we’ve learned about doing it the correct way.

Listen To Episode 270

Whining Even When You’re Winning: Episode 269

A new study shows that mobile home values are up 34.6% since 2016 – nearly matching the 35.4% increase of single-family homes. You would think that would be good news for the 8% of Americans that live in mobile homes. But NPR is determined to show that even when park residents are big winners it’s all part of an evil plot by corporate owners. So we’re going to dissect their latest ridiculous article.

Listen To Episode 269

How To Reduce Stress From Community Ownership: Episode 268

Stress can contribute to many health problems, such as high blood pressure, heart disease, obesity and diabetes. Some of it is the normal condition that comes with taking risk and achieving success, but a huge portion is simply created by your own actions when better options are available. In this Mobile Home Park Mastery podcast we’re going to focus on what causes stress in the mobile home park business, how to manage it, and how to reduce it.

Listen To Episode 268

Options To Sidestep Conventional Banking: Episode 267

Jerome Powell at the Fed has ushered in an era of interest rate instability that has not been experienced in over 40 years. This has created an environment in which traditional banking is not always the attractive solution to getting deals done. But what are the alternatives to sidestep traditional lending? That’s the focus of this Mobile Home Park Mastery podcast.

Listen To Episode 267

Sometimes The Best Deals Are The Ones You Don’t Do: Episode 266

Being a successful park buyer requires discipline. You can’t let your desire to make a deal get in the way of the underlying premise of making money. So how can you guard against acquisitions that are the opposite of portfolio-builders? That’s the topic of this Mobile Home Park Mastery podcast.

Listen To Episode 266

Before You Can Have Return On Capital You Must Have Return Of Capital: Episode 265

In the search for income, many investors overlook the simple fact that there is no income until your capital is safely returned. When you seek the measure of an investment’s performance the only one that matters is the total return at the end, not simply a couple good years along the way. In this Mobile Home Park Mastery podcast we’re going to review why mobile home parks are superior in their return levels because they virtually always start off with your capital back through superior investment construction.

Listen To Episode 265