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Posts Tagged ‘frank rolfe’

Tunica Forecast—Terrific for Growth

March 27th, 2017 Comments off

The doors Spring open at the Tunica Manufactured Home Show Tuesday, March 28 at 12:45 PM as attendees are greeted by SCMHI executives.

Frank Rolfe, credit:MHProNews

Seminars kick off promptly at 1:00 PM as Frank Rolfe, one of today’s most publicized personalities in the world of manufactured housing, sparks the Getting Positive Media Coverage, Engaging the Media panel discussion. A successful partner in Mobile Home University and RV Horizons, Rolfe has been featured in The New York Times and Bloomberg.

Joining him on the panel will be Tom Fath, a partner in New Durham Estates, and while a bit more low key than Rolfe, he and his family have nevertheless realized a 400 percent growth in new home sales.

 

Tom Fath, credit: MHProNews

From 2:30 to 3:30 PM, 30-year + industry veteran, L. A. “Tony” Kovach, publisher of MHLivingNews and MHProNews, will lead a seminar on Attract and Sell more Qualified Customers by Engaging the Public through the Media. With articles and interviews published in numerous mainstream media, including the Chicago Sun Times NewsGroup and The Hill, Kovach will share facts, figures, tips and other strategies to increase your bottom line via positive media.

L. A. “Tony” Kovach, credit:MHProNews

Q and A will follow both presentations.             

From 3:40 to 5:00 PM Leading Manufactured Home Industry Lenders will present their strategies on attracting and selling more well qualified customers—both chattel and home/land– in a wide-ranging panel discussion, with updates on programs that you may not know about.

All seminars will be held in the Magnolia Room at the Resorts Casino.

http://tunicashow.com/

(Image credits are as shown above.)

 

Submitted by Matthew J. Silver to the Daily Business News for MHProNews.

 

 

 

All Eyes on Tunica for Manufactured Housing This Week

March 27th, 2017 Comments off
AllEyesonTunicaforManufacturedHousingThisWeekcreditTunicaShow1-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Tunica Show.

The 2017 Tunica Manufactured Home show officially kicks off tomorrow with in-depth educational seminars, and with information focused on growth for you, and for the industry.

Kicking off at 1pm in the Resorts Hotel Magnolia Room, the “Getting Positive Media Coverage, Engaging the Media” panel discussion features Frank Rolfe, partner in RV Horizons and Mobile Home University (MHU), who has been featured about a dozen times in recent years, in the New York Times, Bloomberg and other news publications.

Frank Rolfe.

This panel also features Millennial and third-generation family-owned community partner, Tom Fath, who will share his experiences at how they boosted new home sales some 400 percent, using the same lending programs they had previously. They increased sales as well as margins on new and pre-owned homes.

This not to be missed panel will be moderated by MHProNews and MHLivingNews Publisher L. A. ‘Tony’ Kovach.

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L. A. ‘Tony’ Kovach addressing industry professionals in an educational session.

At 2:30p, Kovach takes center stage with a deep dive into solutions with his presentation, “Attract and Sell More Qualified Customers Engaging the Public Through Media.”

Interviewed and featured in the likes of the Chicago Sun Times, The Hill and dozens of other mainstream media publications, Kovach’s marketing clients have documented growth by engaging the public through media.

He will share facts, figures, tips, and strategies that can create positive media to attract and sell more qualified customers for your location(s).

These proven tools are the key to attracting and selling more cash and well-qualified credit customers.

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Credit: Tunica Show.

At 3:40pm, it’s “Lessons Learned – MH Industry Lenders Panel – Manufactured Home Industry Lenders Share Their Tips on Attracting, Selling More Well Qualified Credit Customers, where top industry lenders will share what their top locations do to attract and close customers.

Expect key insights from lenders on programs that you may not currently use or know about.

 

If You Go 

All seminars will be held at the Resorts Casino, in the Magnolia Room. This area is located on the second level of the casino. The SCMHI luncheon will be held on the third level at the Resorts Hotel in the “event center” on Wednesday, March 29th and Thursday, March 30th.

 

Weather in View

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Credit: Weather.

Good idea to take an umbrella this week, with a chance of scattered showers in the forecast.

 

You can find additional details on the show linked here, or by visiting the Tunica Show page: http://tunicashow.com/ ##

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

 

 

AllEyesonTunicaforManufacturedHousingThisWeekcredit-postedtothedailybusinessnewsmhpronewsmhlivingnews

MHProNews, MHLivingNews in Focus: 2017 Tunica Manufactured Housing Show

March 24th, 2017 Comments off
MHProNewsMHLivingNewsinFocus2017TunicaManufacturedHousingShowcreditTunicaShow-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Tunica Home Show.

As the manufactured housing industry prepares for the Tunica Manufactured Housing Show beginning next week, two power packed panels are on the agenda for Tuesday, March 28th.

MHProNews and MHLivingNews Publisher L.A. “Tony” Kovach moderates a panel featuring Manufactured Home Communities star and media-magnet Frank Rolfe, who will be joined by Millennial and third-generation family-owned community partner, Tom Fath, on the “Engaging the Media” panel beginning at 1pm Central.

FrankRolfeMHURVHorizonsPhotoCreditManufacturedHousingIndustryDailyBusinessNewsMHProNews

Frank Rolfe, part of a panel at the Tunica Manufactured Housing Show, credit, MHProNews.

Fath will share his experiences at how they boosted new home sales some 400 percent, using the same lending programs they had previously. They increased sales as well as margins on new and pre-owned homes.

TomFathNewDurhamEstates-ManufacturedHousingIndustryManufacturedHomeCommunity-IndustryVoices-MHProNews-

Tom Fath.

While Rolfe and Fath have different approaches to the media, each uses media to drive their respective narratives – and business.

(Editor’s Note: MHI has not formally responded to an invitation to have their communication VP present on this panel, but the latest indirect indication obtained by MHProNews is that they will not be participating.)

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L A ‘Tony’ Kovach, credit, MHVillage.

Then, at 2:30pm Central, Kovach is front and center with his presentation “Attract and Sell More Qualified Customers Engaging the Public Through Media,” sharing facts, figures, tips, and strategies to create positive media that will attract and sell more qualified customers for your location(s). This is a proven tool to attracting and selling more cash and well-qualified credit customers.

show-me-the-money-tunica-manufactured-housing-show-posted-daily-business-news-mhpronews-com-

Click the image above to learn more. Credit, Show Ways Unlimited, MHProNews.com.

To learn about the manufactured home lenders panel discussion, and more about the education above, click here.

2017 Tunica Manufactured Housing Show takes place at the Resorts & Hollywood Casinos in Tunica, Mississippi. For more information on the show, click here. ##

 

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Frank Rolfe–Manufactured Home Communities, Prospective HomeOwners Win with Trump

March 22nd, 2017 Comments off
Its-EvolutionaryTrailerHouse-MobileHome-ManufacturedHome-modular-manufacturedhomelivingnews-comWB-660x330

There has been an evolution from trailer houses, to mobile homes, to today’s manufactured homes.  To see that article, click image above. Credit: MHLivingNews.

Manufactured home community sector maverick, Frank Rolfe, has sounded off in a recent commentary, breaking down the reasons that manufactured home community owners, and prospective home buyers, win with the Administration of President Donald Trump.

According to the NuWire release, Rolfe had plenty to say.

Whether you are Democrat or Republican, there is no question that mobile home park [sic] owners are likely to do very well under the Trump presidency. Here is an outline of the different issues that will help mobile home park [sic] owners, based on the agenda discussed so far,” said Rolfe.

Rolfe and his partners operate one of the largest portfolios of manufactured home communities in the nation.  His boot camps, books and talks draws potential investors. Rolfe’s been called a “media-magnet.”

The most notable place his news release used what many want in terms of correct industry terminology was in the bio, which stated he has over 25,000 home sites in 28 states and draws to a close by saying, “To learn more about Frank’s views on the manufactured home community industry...” 

He isn’t shy about his opinions.

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Kurt Kelley. Credit: MHProNews.

As for Frank, he takes heat for stating facts and truth publicly when others don’t.  He’s the Donald Trump of our industry.” said Kurt Kelley, JD, a financial services provider, industry writer, and colleague of Rolfe’s.

Speaking on the 2008 SAFE Act and Dodd-Frank in 2010, which created the Consumer Financial Protection Bureau, Rolfe sees their repeal being the key to the dream of homeownership.

DaveReynoldsFrankRolfeRVhorizonsMobileHomeParkStoreMobileHomeUniversityBootCamps-postedDailyBusinessNewsMHProNews

Dave Reynolds (l), Frank Rolfe (r), of

Mobile Home University, Mobile Home Park Store and RV Horizons.

If SAFE and Dodd-Frank were repealed, it would allow park owners [sic] to go back to writing mortgages on their homes and letting people be homeowners instead of mere renters. And mobile home parks [sic] work better when the residents all [own] their own homes, and are stakeholders in the business model, said Rolfe.

Rolfe has been outspoken recently regarding MHI, when it comes to defending the industry he loves and works in.

The folks at MHI – the industry lobby group – are nice people, but what’s with the concept of silence is golden? Negative articles on the industry are met with ‘no comment.’ Positive news opportunities are met with ‘no comment.’ I’ve never seen anything like it,” said Rolfe in a feature linked here.

CreditsBattleshipMissouriWikiCommons-MHILogoMHI-FrankRolfeMHU-CollageCreditMHProNews

Images on MHProNews are routinely used under fair use guidelines, as is the case with the images in the collage above.

Speaking on other areas he deemed important, Rolfe pointed out infrastructure, and a focus on the heartland, as promising signs coming from the Trump Administration.

A large number of mobile home park [sic] residents are contractors and laborers, and this group will receive a huge bonus in the form of new employment to repair our nation’s infrastructure. As these bridges, roads, airport and other projects are fairly much equally spread throughout the country; this directive will have a huge impact on many major mobile home park [sic] markets. And greater employment trickles down to other employers that are basic staples of mobile home park [sic] jobs, such as fast food,” said Rolfe.

Bob_Crawford_and_Frank_Rolfe

Bob Crawford, Frank Rolfe in panel discussion on industry issues, both took aim at what they see as MHI’s misses and failures. Credit, Inside MH Road Show, MHProNews.  Rolfe will be presenting in next week at the educational day for the Tunica Show, to learn more, click here.

If you assume that the ‘red’ states will gain more focus than the ‘blue’ states under the new administration, then that could have a very positive impact on the heartland of America, which holds the majority of mobile home parks [sic] in the U.S.,” he explained.

There are simply not many mobile home parks [sic] in the ‘blue’ states – except for Illinois.” While a popular writer and speaker, Rolfe at times makes a statement that requires a second look.  Deep blue California, for example, has thousands of manufactured home communities. 

The reason is that real estate values are very high on the coasts, and this has resulted in many mobile home parks [sic] being torn down and re-developed over time,” he added, which is a trend that the Daily Business News has often highlighted.

Additionally, most cities stopped allowing new parks [sic] to be built in the 1980s, yet many fast-growing metro areas – such as found in California and Florida – had explosive growth in more recent times and therefore precluded mobile home park [sic] construction.

In conclusion, Rolfe sees better opportunities for manufactured home owners over the next few years.

Every change in Presidential administration opens new avenues for business. The Trump presidency suggests many areas of change that our beneficial to mobile home park [sic] owners,” said Rolfe.

For more from Frank Rolfe, including his commentary on MHI, click here. ##

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Marty Lavin Lashes the Manufactured Housing Institute’s (MHI) Latest Initiative

February 21st, 2017 Comments off
MartyLavinLashesManufacturedHousingInstituteMHIDruckerWorldWideRoperReportDailyBusinessNewsMHProNews

The Manufactured Housing Institute (MHI) Logo is their property, and is used here under fair use guidelines. Lion tamer, GraphicStock, Lavin photo and collage credit, MHProNews.

Is anyone “…eating this dog food?”

emailed comment to MHProNews about Marty Lavin’s topic.

 

We welcome outside oversight and criticism as it allows us to objectively evaluate our actions.”

Sam Landy, explaining UMH Properties perspective on media, public critiques.

 

Let’s fight bad information with good information, and not have to resort to unAmerican activities like censorship of the media.”

Richard Nodel, principal of Nodel Parks.

 

 

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Marty Lavin, JD.

I like to say to myself “If you live long enough, you’ll see it all,” says Manufactured Housing Institute (MHI) award winner, Marty Lavin, JD.  “I have now lived long enough to see a second MHI effort to do “major consumer research” to “profile the housing needs and opportunities for the industry among various underserved homebuyers.” Who can forget the first effort?”

For those who have forgotten – or those too new to the manufactured housing industry who’ve never known – Lavin walks readers of his unsolicited op-ed through the first consumer research done by the Roper organization for MHI over a decade ago.

The respected, and award-winning, Lavin spent several decades in manufactured home retail, communities and lending. He is also an expert witness, which leads him to assignments that often requires a pro-consumer perspective. His critique comes on the heals of a broadside by Frank Rolfe, previously reported on the Daily Business News at this link here.

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Richard “Dick” Jennison. Credit: MHI.

In view of the history on this thing, it is logical to be skeptical of the entire process,” says a dubious Lavin, who expressed his doubts about Richard “Dick” Jennison’s announcement, potential and timetable.

Lavin was part of the last task force, saying: “I was very much involved in the Roper effort, which died an ignoble death, dealt a crushing blow to the industry (from which it hasn’t recovered), supposedly couldn’t be afforded financially then, and the industry condition seems even weaker now.”

MHI has offered no response to Lavin’s op-ed, even though there are facts they could bring to light that might be persuasive for some.

MHI did, however, include the following quote in their recent emailed message to members. “This initiative will help us develop a robust, fact-based analysis to drive strategy and serve as a basis for change,” wrote MHI’s communication director, for MHI President and CEO Richard “Dick” Jennison.

On the flip side of this MHI effort is Rolfe, who said: “The folks at MHI – the industry lobby group – are nice people, but what’s with the concept of silence is golden? Negative articles on the industry are met with ‘no comment.’ Positive news opportunities are met with ‘no comment.’ I’ve never seen anything like it.”

CreditsBattleshipMissouriWikiCommons-MHILogoMHI-FrankRolfeMHU-CollageCreditMHProNews

Images on MHProNews are routinely used under fair use guidlines, as is the case with the images in the collage above.

We always hear about the tornadoes, flooding, fires, residents getting evicted from their homes so a shopping center can be built, unreasonable rent increases, how manufactured homes depreciate in value, etc,” said MHI member and association defender, Darren Krolewski. “I think it’s less about the industry not responding appropriately, than it is us constantly having to play defense when we do.”

Interestingly, Krolewski’s points noted above presaged some of Lavin’s stated concerns about MHI’s plan.

To see Marty Lavin’s complete commentary and history on the current and prior MHI effort, see: DÉJÀ VU AGAIN? A New Manufactured Housing Institute (MHI) Initiative. ##

(Image credits are as shown above.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News on MHProNews.com

Anti Community MHAction Targets Frank Rolfe, RV Horizons and ELS

January 5th, 2017 Comments off
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I’ve watched such groups attack a manufactured home community – by misusing the media – with such gusto, that they harmed the value of every resident owned home at that property,” said consultant and publisher, L. A. ‘Tony’ Kovach. Image credit, MHAction, and collage/text credit by MHProNews under fair use guidelines.

Small-to-large manufactured home community (MHC) operations are no strangers to the ire of anti-investor activists.

MHAction is one such group.  They’re seeking to grow their influence with MHC residents, media, policy advocates, regulatory and legislative bodies.

Part of their strategy is to use the news media to attack higher-profile MH business operations.

Manufactured homeowners and residents across the country are outraged by the business practices of RV Horizons,” said MHAction in a public post by the group.

RV Horizons Inc. owner Frank Rolfe thinks owning a manufactured home community is like, “a Waffle House where everyone is chained to the booths,” proclaims the group’s recent Facebook post, aimed at increasing the number who sign a petition for investigations of Rolfe and his partner’s business.

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Whatever their motivations, attacking private capital doesn’t attract more investors.  That de facto harms those who would upgrade existing or build new quality manufactured home communities.  MHProNews does not represent either of these two operations at any level, but editorially recognizes that groups such as MHAction attacking industry firms often harms others in the business too.  An industry response can be useful to set-the-record straight.

If you live in a community owned by RV Horizons, and are concerned by their business practices, click to sign a petition asking state Attorney Generals to investigate,” MHAction says.

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A new Masthead blog post outlines the facts that manufactured housing industry pros must grapple with in dealing with this new breed of media-savvy activists.

MHAction Disrupting Manufactured Housing Industry Business as Usual

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Dave Reynolds (l), Frank Rolfe (r), of Mobile Home University, Mobile Home Park Store and RV Horizons. Provided under fair use guidelines.

MHProNews has previously interviewed Frank Rolfe about adverse press coverage he and his firm have received, one of those interviews with Rolfe is found at the link here.

A detailed, fact-based reaction to MHAction’s media-based attack on ELS is linked here.

For balance, MHProNews contacted MHAction, asking for details and specific questions about their operation – including the sources for their funding.  As of this post’s publication time, with over a week since our inquiries, MHAction has not responded.

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Tom Fath, a manufactured home owner who lives on the property he helps manage, told MHProNews that in the NPR story, there was no excuse for the property owner, but noted that: “Where is the tenant accountability? Homes are personal property (Unless units are rentals) and there is trash and debris everywhere.” Negative media coverage paints an inaccurate picture of manufactured home owners as being victims or unhappy with their lifestyle, when surveys and studies by third parties reveal that MH owners are happy with their homes and lifestyle. Image from the MHAction Facebook page.

The Daily Business News will continue to monitor this and other such groups.  ##

(Image Credits are as shown above.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.

Frank Rolfe, Bob Crawford Video Comments on Current and New MH Association

June 13th, 2016 Comments off

Bob_Crawford_and_Frank_RolfeIn a video presentation, Frank Rolfe, a partner with Dave Reynolds in Mobile Home University, RV Horizons and MHP Funds, says he can call his congressional representative in Missouri and find out the chances of legislation passing that could positively affect the manufactured home industry, like altering Dodd-Frank.

Since it is often a one or two percent chance, Rolfe says Congress is like a business, and unless it is a hot-button issue, it is not likely to be changed, as MHProNews understands. He says everybody in the (MH) industry knows that Dodd-Frank is screwed up. If the party in the White House changes, there is a chance that many regulations will be repealed and perhaps that will include changes to Dodd-Frank. Other than that, based on feedback from his congressman, he has rather lost hope for a change.

Bob Crawford, the right hand man for industry legend Dick Moore, said Dodd-Frank was an overreaction on the part of the government, and while he does not envision Dodd-Frank being eliminated totally, he echoes Rolfe’s view that a change in the White House and the retention of incumbents could lead to some changes to the Act.

He says it will take a grass-roots effort for everyone to put pressure on their Representatives and Senators to make the needed changes because it is not in the interest of anyone in the Consumer Financial Protection Bureau to change.

Crawford says there has long been discussion about a post production national organization that represents retailers and community owners that could bring focus to this issue with representatives in Washington. He says the state associations do a good job looking out for their constituency, but they have to be nice to their representatives in trying to get rulings that benefit the industry and their particular issues.

Crawford envisions the new association as being more able to try and convince lawmakers of the need for change. “It is something that is sorely needed by this industry, and I would line up behind the first person who would take on this position,” he says.

Frank Rolfe says since the housing bubble in 2008 and the ensuing Dodd-Frank/CFPB debacle, he anticipates state associations will be more active in taking on community owner issues.

For the full interview, click here. ##

(Photo credit: MHProNews-Bob Crawford, left, and Frank Rolfe)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

Sunday Morning Recap-Manufactured Housing Industry News March 20-March 27, 2016

March 27th, 2016 Comments off

mhpronews_sunday_morningWhat’s New in public focused Manufactured HomeLivingNews.com

What Others Say about Sunshine Homes, Manufactured/Modular Homebuilder

Tragedy and Triumph – Widow shares her Celebration of Manufactured Home

What’s New in Manufactured Housing Industry Professional News

Tunica was tremendous, say attendees. Proposal would merge Fannie, Freddie. MHC to receive free wastewater system. Government impact on housing costs heard in Congress. Terrorism creates uncertainty. Ex-cons building modular homes. Sun acquires Carefree Communities, sets public offering to pay tab. Modular development in Fla. Keys. Zeman closes on three communities. MHC expansion approved in Minn. Trump support strong in MHCs. And much, much more in notions, news and views from factory-built housing around the globe.

Saturday, March 26, 2016

Proposal would Merge the GSEs, Ensuring Credit Access for Affordable Housing Initiatives

Friday, March 25

Thursday, March 24

Wednesday, March 23

HELP Act Designed to Expand Lending Opportunities in Rural Areas

Phenomenal,” “Best Show in Years” 2016 Tunica Show Flash Report

Zeman’s $9 Million Loan Acquires three MHCs in Michigan

Skyline, LPX Gain; MHCV Slips

MHC Owner wants Rent Hike in order to Sell Community

Sun Communities Raising Funds to Pay for Carefree Acquisition

For Profit Hires Ex-Cons to Build Modular Homes

Tuesday, March 22

Insider Trading at MH-related Firms

Sun Acquires Carefree Communities

Sun Communities Advances 3.95 Percent

Investment Writer Touts Financial Performance of MHCs

City Council Approves MHC Expansion in Minnesota

Monday, March 21

Feb. Existing Home Sales Drop, Falling -17.1% in Northeast

Deer Valley Stock Worth the Risk

After Rising 72.5%, Deer Valley Falls 11.59%

Trump Support Strong among Manufactured Home Residents

Frank Rolfe, Dick Moore’s Bob Crawford! MH Lenders! SuperCharged MH Marketing+Sales! Tuesday in Tunica!

Shares of UMH Properties Hit New High

Sunday Morning Recap-Manufactured Housing Industry News March 13-March 20, 2016 ##

(Photo credit: MHProNews)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Two Contrasting Interviews – Frank Rolfe, on recent Media Attention – Chris Parrish, former Chairman of the National Communities Council

September 1st, 2015 Comments off
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Two Entirely Distinct Interviews and Perspectives on Manufactured Housing Communities, MHI and the NCC are found in what we expect will be “read hot” interviews on MHProNews.com.

They are both from the MH Communities sector of manufactured housing. They live in different parts of the U.S.. They could readily be described as a study in contrasting styles and views.

As was reported on the Masthead blog, and the Daily Business News earlier today, the new September issue of MHProNews brings you two very different interviews with two very different industry personalities, who have MHCommunities in common.

On the one hand is Frank Rolfe, who has recently garnered more controversial mainstream media attention to MH. That attention brought a series of comments to MHProNews, so we opted to put those questions to him directly. His unedited responses to some pretty tough questions are found at the link below. Warning: some of his comments will be deemed contentious by many in MHLand.

http://www.MHProNews.com/home/featured-articles/september-2015/138-general-manufactured-housing-industry-topics/10162-controversial-media-reports-the-guardian-a-kvue-on-the-record-interview-with-frank-rolfe-of-mobile-home-university-mobilehomeparkstore-rv-horizons

On the other side of some issues that Frank seems to represent in the minds of many is Chris Parrish. The soft-spoken NC community operator has also garnered media and industry attention, but without the cloud of controversy. They take and bring two very different perspectives on MHI, the NCC and other topics. Each has their followers and fans. The Chris Parrish interview is linked below.

http://www.MHProNews.com/home/featured-articles/september-2015/138-general-manufactured-housing-industry-topics/10155-a-cup-of-coffee-withchris-parrish

15 more Featured Articles are now live on the MHProNews.com home page. Expect a record setting month, as there are over a dozen topics that will challenge, inform and inspire.

Industry feedback on these interviews or other topics are welcomed. ##

(Image credits: Parrish Manor, Mobile Home U with text overlay by MHProNews).

Wall Street Is Waking Up to the Value of Manufactured Home Communities

March 2nd, 2015 Comments off

frank-rolfe-mh-park-ownerLong-time manufactured home community owner Frank Rolfe says that it comes as no surprise that manufactured home communities are finally receiving the type of respect they deserved years ago. “Because of the ridiculous stereotype the media created for ‘trailer park’ residents, many professional investors avoided this asset class altogether,” he said.

The word “mobile” in “mobile home” could not be farther from the truth, according to Rolfe. The actual statistic is that 98% of manufactured homes never move from the spot where they were originally delivered.  Fortunately, attitudes are changing.

He points out that recently, even the largest private equity group in the U.S. – the Carlyle Group – has started to invest in manufactured home communities. In addition, few people realize that Warren Buffet is now the largest owner of factory-built homes and financing, and that Sam Zell is the largest owner of manufactured home communities. So why is Wall Street so impressed with the manufactured home community business?

Rolfe says that the number one attraction for Wall Street investors to manufactured home communities is that these properties have the highest returns of any form of real estate investment. He feels this is probably because there are more sellers than buyers, thanks to decades of the “stigma” scaring off widespread investor interest.

Nuwire Investor tells MHProNews that manufactured home communities focus on the lowest earning demographic group in the U.S. – those that earn from minimum wage to around $15 per hour. Sixty percent of all new jobs created in the U.S. since the “Great Depression” of 2007 began are minimum wage. Affordable housing becomes even more in demand during times of economic hardship. It’s the same concept that is propelling Dollar Tree and Dollar General past their rivals.

Manufactured homes are the least expensive form of housing in the U.S. As a result, there is always room to push rents higher, as even a 100% increase in most markets maintains the status of being cheap. The average apartment rent in the U.S. is $1,030 per month. The average manufactured home lot rent is $250.

Rolfe, who is owner of one of the country’s largest group of manufactured home communities, says that one benefit of owning these communities is that they have an enviable expense ratio that runs typically 30% to 40% of gross. This is the lowest of all real estate sectors. One key driver to this is that manufactured home communities are all about renting land, and land does not require any repair & maintenance to the homes, although there is some upkeep required for water lines and septic / sewer systems.

Another thing that makes existing manufactured home communities valuable is the fact that there are few new communities being built. While you can develop a new apartment complex, retail center or self-storage facility virtually anywhere, Rolfe says it’s difficult to put in a new manufactured home community. Because of the “stigma” that manufactured home communities have been saddled with, this makes the likelihood of competitive communities springing up very doubtful.  Having no future new supply always makes values remain high and even increasing.

Rolfe has been an investor in manufactured home communities for almost two decades, having owned and operated more than 110 manufactured home communities during that time. He is currently ranked, with his partner Dave Reynolds, as the 10th largest community owner in the United States, with more than 13,000 lots in 20 states in the Great Plains and Midwest.

Rolfe’s first venture into this market was his purchase of a community in Dallas called Glenhaven.  His feels that his talent lies in buying poorly managed communities and turning them into model home communities. He said that he has always believed manufactured home communities are all about “affordable housing”.

“Beginning with Glenhaven, I noticed that a manufactured home community – when properly managed – offers a significantly better quality of life than a comparably priced apartment. Nobody likes to have neighbors banging on their walls and ceilings, or the lack of a yard or nearby parking – or just the lack of a feeling,” he explained. “It occurred to me that I could have my phone ringing off the hook if I could deliver an affordable detached dwelling with a yard that was safe, clean and respectable. That’s what I delivered at Glenhaven, and that’s what I’ve been doing ever since.”

Rolfe feels that nothing has much changed in the manufactured home community industry over the past 50 years, except for the perception of the industry. He says that Wall Street is suddenly waking up to the amazing advantages of investing in manufactured home communities, and the rest of America cannot be far behind. ##

(Photo Credit: NuWire Investor)

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Article submitted by Sandra Lane to – Daily Business News – MHProNews.