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Billions in Global Deals, Flying Above the Fray for Unicorn Prefab Builder

August 10th, 2018 No comments

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While manufactured housing professionals are struggling at historically low levels, Robbie Antonio is demonstrating his ability to do billions of dollars in deals globally.

 

This is an exciting period for the company as we continue to expand our footprint worldwide. Bahrain is an important part of this expansion because of its strategic location and its very strong economy,” said Robbie Antonio, founder and CEO of Revolution Precrafted, per Deal Street.

With CNBC Asia, Antonio briefly explains where he’s come from in the 3 years since he began Revolution Precrafted Properties.

 

In May, Revolution Precrafted announced a deal to supply over 2,000 residential villas in Puerto Rico,” stated Deal Street. “The residential villas will have an average cost of $250,000 and will take three years to complete.”

MHLivingNews and MHProNews have tracked their results for years.

Why?

Because they are a reminder of what could happen right here in the U.S., for those with the moxie to ‘buck the system’ and dare to deliver for investors, buyers, and businesses who aim at solving the affordable housing crisis with the tools that are already available.

Two Great Laws Already on the Books NOW,  Can Unlock Billion$ Annually for Manufactured Housing Industry Businesse$, Investor$

Established in December 2015, Revolution Precrafted sells highly customizable prefabricated properties, including pavilions, homes, condos, hotels, adaptive amenity spaces, transposable restaurants, pop-up retail shops, gyms, and even customized clamping that can be ordered on the company’s website,” said the recent of a steady train of coverage for the marketing-savvy Antonio.

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Still from CNBC video.

So far this year [2018], Revolution Precrafted has sealed more than $6.5-billion worth of deals overseas. These include the $3.2-billion World Islands deal with Seven Tides in Dubai, the $1.2-billion Okkyin project in Myanmar, the $300-million dealership in the Caribbean, and most recently, a luxury resort project in Okinawa.”

A twenty-year track of the RV business shows a steady rise.

What RV Industry’s 2018, Prior Results Reveal for Manufactured Housing

So why hasn’t HUD Code manufactured housing, done the same?

The Rollohome story reminds us that it is doable, rapidly.

While Antonio is proving you can serve the classes and live with them too, the biggest market is still the needs of the masses.

It comes down to SWOT.

SWOTAnalysisDailyBusinessNewsMHProNews

The four quads of a good SWOT analysis. Strengths, Weaknesses, Opportunities, Threats.

Understanding where the risks and opportunities are, and navigating them. “We Provide, You Decide.” © ## (News, analysis and commentary.)

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

Related Reports:

Billion Dollar Startup Modular Builder, Using Robotics, Could Soon Rival Clayton Homes’ Total Sales

 

Fresh Facts, Figures, Future of Affordable Housing -Comparisons- Conventional Site-Built v Mobile/Manufactured Home Industry Data

“Thou Shall Not Steal,” $2 Trillion Annually Lost to Lack of Affordable Homes, Making the Manufactured Home Case

FEDs, MHI, Buffett’s Berkshire’s Clayton Homes Moat, Affordable Housing, and Billion$ in Manufactured Home Market Manipulation

HousingEconomics Releases New Data on U.S. Housing, Comparing MH and Stick Built Data

August 6th, 2018 No comments

 

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The ratio of single family housing starts to new manufactured home shipments, through June 2018, is more than 16 to 1. While that does represent upside, it also reflects how misunderstood manufactured homes are today.

HousingEconomics is part of the National Association of Home Builders ® (NAHB), an outlet for NAR data.

 

According to their website, “The NAHB Economics Group has provided research and analytical solutions to member companies and professional economists since 1970.” And “you can rely on the premier data source for the U.S. housing industry: HousingEconomics.com.”

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Reliable data, what a nice thought.  MHI, are you listening?

Fresh Facts, Figures, Future of Affordable Housing -Comparisons- Conventional Site-Built v Mobile/Manufactured Home Industry Data

When manufactured housing (MH) facts are compared to conventional housing, manufactured homes fare well.

BuildingPermitsUSAndRegionalDailyBusinesNewsMHProNews

So why is it that when the data from NAHB’s HousingEconomics for single and multi-family housing starts is compared to manufactured housing (MH), that the ratios for HUDVille’s MHs are so modest?

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Part of the answer is found in the linked reports, found below.  That’s “News Through the Lens of Manufactured Homes, and Factory Built Housing.” © ## (News, analysis, and commentary.)

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Related Reports:

Manufactured Housing Shipment Totals, June 2018

 

They Did It Before…Sunday Morning Manufactured Home Industry News Headline Recap July Aug 5, 2018

 

“Fixing Our Industry’s Terrible” Public Relations, a Proven Strategy

Significant Slowdown of New HUD Code Manufactured Home Production Growth in June, Per Latest Data

“Thou Shall Not Steal,” $2 Trillion Annually Lost to Lack of Affordable Homes, Making the Manufactured Home Case

 

Blackstone Brilliantly Bets Big On Manufactured Housing, Enters Manufactured Home Communities Contest

July 27th, 2018 Comments off

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Blackstone Group LP has made its first bet on manufactured housing by buying a portfolio of communities sold by Tricon Capital Group Inc., according to people with knowledge of the matter,” said Bloomberg earlier today.

As the Daily Business News on MHProNews reported earlier this month, Tricon sold their portfolio to an undisclosed buyer.  Bloomberg says that buyer is The Blackstone Group (BX).

Sale of $172 Million Manufactured Home Community Portfolio Completed

“…a principal investor and asset manager focused on the residential real estate industry, has completed the previously-announced sale of its 14-park manufactured housing investment vertical known as Tricon Lifestyle Communities (“TLC”) to an institutional asset manager for a gross transaction value of approximately $172 million.”

A Blackstone representative declined to comment and a Tricon representative didn’t respond to requests for comment,” said Bloomberg.

Manufactured housing communities are comprised of prefabricated homes often located near common facilities such as pools and recreation halls. This area of real estate is in favor with investors, in part because of the rising costs of homebuilding. The average price of a new manufactured home in the U.S. was $73,400, according to U.S. Census Bureau data that was last updated in February,” was Bloomberg’s better-than-average mainstream media description of the industry.

Blackstone isn’t the first institutional investor to dive into manufactured housing,” their report correctly noted. “Singapore’s sovereign wealth fund GIC Pte. in 2016 was part of a group that acquired a majority stake in YES! Communities.”

TriconLifestyleCommunitiesManufacturedHousingLandLeaseBusinessDailyBusinessNewsMHProNews

Tricon announced that they planed ‘an orderly exit’ from manufactured home communities in 2018, per a 2017 company statement. The details of that deal are now becoming more clear.  Given their size, this has the potential to be as significant to the industry as Berkshire Hathaway’s entry into manufactured housing in 2003. 

Centerbridge Partners LP was an early investor in Carefree Communities Inc., which was acquired by Sun Communities Inc. in 2016. Apollo Global Management LLC owns a majority stake in Gold River, California-based Inspire Communities and Carlyle Group LP has also been active in the sector,” wrote Bloomberg’s Gillian Tan.

Evercore ISI analysts said in a note this month that they expect manufactured housing fundamentals to remain strong,” said Tan, “with projected core same-store net operating income growth of 4 percent to 4.5 percent annually over the next three years, substantially above the 2.5 percent average growth the firm expects from U.S. real estate investment trusts.”

Equity LifeStyle Properties Inc. and Sun Communities, two REITs with sizable exposure to manufactured housing, have both outperformed the Bloomberg U.S. REITs Index over the past 12 months,” per Tan’s report.

 

About Blackstone

Our investments are designed to preserve and grow our limited partners’ capital, provide financial security for millions of retirees, sovereign wealth funds, and other institutional and individual investors, and contribute to overall economic growth,” per the “Who We Are” on their corporate website.

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. The firm was founded in 1985 by Stephen A. Schwarzman, our Chairman and Chief Executive Officer, and Peter G. Peterson, who retired as Senior Chairman in 2008,” per the company.

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Thirty years later, we are a firm of nearly 2,300 employees in 25 offices worldwide. Our portfolio companies employ more than 460,000 people across the globe,” which also touts that “At Blackstone, we apply our capabilities as a leading global investment firm to deliver solutions, unlock value and propel growth. The capital we deploy on behalf of our investors fuels the development of businesses and communities. The investments we make are the wellsprings of future opportunity. Through this work, we seek to ensure a secure retirement for millions.”

Blackstone has been added to our Daily Business News evening closing ticker for manufactured home industry connected tracked stocks.

For those not yet familiar with the appeal to the manufactured home industry, or the communities sector, the related reports further below will prove insightful. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

 

 

 

Related Reports:

Realtor University, Journal for the Center of Real Estate Studies, Makes Corrections– “The Market for Manufactured Homes,” by Scholastica ‘Gay’ Cororaton, CBE

Harvard’s Joint Center for Housing Studies 2018 – Affordability, Manufactured Homes, and Modular Housing Report

Hundreds of New Manufactured Home Communities Opened, But How Many Have Closed? Industry Research Result$

“Why Advocates Need to Rethink Manufactured Home Quality,” Harvard, GSE, Genz, “High Satisfaction”

 

Jeb Hensarling & Maxine Waters Unveil Bipartisan Capital Markets Reform Legislation

July 17th, 2018 Comments off
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Official photos of both Maxine Waters (D-CA) and Jeb Hensarling (R-TX) are provided by Wikipedia.

WASHINGTON, D.C. “House Financial Services Committee Chairman Jeb Hensarling (R-TX) and Ranking Member Maxine Waters (D-CA) announced Monday that they have reached an agreement on a package of strong, bipartisan capital-formation legislation to help America’s small businesses and entrepreneurs and to protect investors,” stated a released to the Daily Business News on MHProNews.

The legislative package is known as the “JOBS and Investor Confidence Act of 2018.” It’s comprised of 32 individual pieces of legislation that have passed the Committee or House this Congress with broad bipartisan support, stated a House Financial Services release to the Daily Business News.

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Jeb Hensarling, official photo.

Over the last several months, our Committee has been working hard to put forth a number of capital-formation bills that are designed to breathe new life into markets that are suffocating under aging regulations,” said Hensarling. “Thanks to the efforts of the Ranking Member and Members of the Committee on both sides of the aisle, we have a strong bipartisan package that will play an important role in sustaining long-term economic growth and global competitiveness.”

A stronger economy, more jobs for America’s families, and strong investor protections are top priorities for Committee

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Maxine Waters. Official photo,

Democrats,” Waters said. “I want to thank the Chairman and the staff of the Committee on both sides of the aisle for the work that they have been doing, working together to live up to what we always say—that we all support small businesses, their access to capital and protecting investors. This is true bipartisanship we are witnessing today.”

 

 

HouseFinancialServicesCommitteePressReleaseDailyBusinessNewsMHproNews598

— Start of balance of House Financial Services Committee report —

The bipartisan bills that comprise the package are:

H.R. 79, Helping Angels Lead Our Startups (HALOS) Act – Sponsored by Rep. Steve Chabot (R-OH) and cosponsored by Rep. Kyrsten Sinema (D-AZ), this bill defines an “angel investor group” and clarifies a regulation issued by the Securities and Exchange Commission (SEC) to ensure that startups have the opportunity to make a presentation to interested parties without running afoul of the securities laws.

It passed the House on January 10, 2017 with strong bipartisan support, 344-73.

H.R. 435, The Credit Access and Inclusion Act of 2017 – Sponsored by Rep. Keith Ellison (D-MN) and cosponsored by Rep. Robert Pittenger (R-NC), the bill amends the Fair Credit Reporting Act (FCRA) to authorize an entity, including the Department of Housing and Urban Development (HUD) to furnish data to consumer reporting agencies regarding an individual’s history of on-time payments with respect to a lease, or contracts for utilities and telecommunications services.

The bill passed the House by voice vote on June 25, 2018.

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H.R. 477, Small Business Mergers, Acquisitions, Sales & Brokerage Simplification Act of 2017 – Sponsored by Rep. Bill Huizenga (R-MI) and cosponsored by Rep. Brian Higgins (D-NY), the bill alleviates costs to small business owners by simplifying the securities registration system for mergers and acquisition brokers who help transfer the ownership of small, privately held companies.  It also disqualifies “bad actors” from utilizing the simplified process and does not allow transactions involving shell companies.

H.R. 477 passed the House with unanimous bipartisan support, 426-0, on December 7, 2017.

H.R. 1585, Fair Investment Opportunities for Professional Experts Act – Sponsored by Reps. David Schweikert (R-AZ) and cosponsored by Reps. French Hill (R-AR), Carolyn Maloney (D-NY) and Kyrsten Sinema (D-AZ), H.R. 1585 modernizes the definition of accredited investor so those who do not have a high income or high net worth but do have the education and job experience to evaluate investment risks and merits can participate in the growth of promising companies.  This change will provide more Americans with greater investment opportunities and enable the businesses they invest in to create more jobs.

It passed the house by voice vote on November 1, 2017.

H.R. 1645, Fostering Innovation Act – Sponsored by Rep. Kyrsten Sinema (D-AZ) and cosponsored by Rep. Trey Hollingsworth (R-IN), the “Fostering Innovation Act of 2017” amends Section 404(b) of the Sarbanes-Oxley Act (SOX) to extend the exemption to comply with the law for certain low-revenue emerging growth companies (EGCs) that would otherwise lose their exempt status at the end of the five-year period that applies under current law.

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The bill passed the Financial Services Committee with a bipartisan vote of 48-12 on October 12, 2017.

H.R. 2219, End Banking for Human Traffickers Act of 2018 – Sponsored by Rep. Ed Royce (R-CA) and cosponsored by Rep. Carolyn Maloney (D-NY), H.R. 2219 amends the Victims of Trafficking and Violence Protection Act of 2000 to add the Treasury Secretary to the President’s Interagency Task Force to Monitor and Combat Trafficking, requires the task force to submit to Congress an analysis of anti-money laundering (AML) efforts of the U.S. government and financial institutions relating to severe forms of trafficking in persons, and requires the Treasury Secretary to designate an office within the Office of Terrorism and Financial Intelligence to coordinate efforts to combat the illicit financing of human trafficking.

It passed the House with overwhelming bipartisan support, 408-2, on April 10, 2018.

H.R. 2364, Investing in Main Street Act – Sponsored by Rep. Judy Chu (D-CA) and cosponsored by Rep. Stephen Knight (R-CA), the bill amends the Small Business Investment Act by increasing the percentage a financial institution or federal savings association can invest in a small business investment company (SBIC) to 15 percent and require the financial institution or the federal savings association to be approved by their federal regulator prior to investing more than five percent.

H.R. 2364 passed the House by voice vote on July 24, 2017.

H.R. 3555, Exchange Regulatory Improvement Act – Sponsored by Rep. Barry Loudermilk (R-GA) and cosponsored by Reps. Lee Zeldin (R-NY), Gregory Meeks (D-NY) and David Scott (D-GA), the “Exchange Regulatory Improvement Act,” as amended, requires the SEC to set forth the facts and circumstances it considers in determining what is a “facility” of an exchange.

The bill passed the Financial Services Committee on July 11, 2018 by voice vote.

H.R. 3903, Encouraging Public Offerings Act of 2017 – Sponsored by Rep. Ted Budd (R-NC) and cosponsored by Rep. Gregory Meeks (D-NY), the “Encouraging Public Offerings Act of 2017” amends the Securities Act of 1933 to expand to all public companies certain provisions of Title I of the Jumpstart Our Business Startups (JOBS) Act, which previously applied only to an EGC. Specifically, the legislation allows issuers to submit to the SEC for confidential review, before publicly filing, draft registration statements for Initial Public Offerings (IPOs) and for follow-on offerings within one year of an IPO. Additionally, this bill allows all companies to “test-the-waters” before filing an IPO, which means they may meet with qualified institutional buyers and other institutional accredited investors to gauge those investors’ interest in the offering.

It passed the House with unanimous bipartisan support, 419-0, on November 1, 2017.

H.R. 3972, Family Office Technical Correction Act – Sponsored by Rep. Carolyn Maloney (D-NY), H.R. 3972 clarifies that family offices and family clients, as defined in section 275.202(a)(11)(G)-1 of title 17, Code of Federal Regulations, are accredited investors under Regulation D of the SEC.

H.R. 3972 passed the House by voice vote on October 24, 2017.

H.R. 4281, Expanding Access to Capital for Job Creators Act – Sponsored by Rep. Ruben Kihuen (D-NV) and cosponsored by Rep. Alex Mooney (R-WV), the “Expanding Access to Capital for Rural Job Creators Act” amends the Securities Exchange Act of 1934 to have the SEC’s Advocate for Small Business Capital Formation identify any unique challenges to rural area small businesses when identifying problems that small businesses have with securing access to capital. H.R. 4281 also requires that the annual report made by the SEC’s Small Business Advocate include a summary of any unique issues encountered by rural area small businesses.

The bill passed the Financial Services Committee with unanimous bipartisan support, 60-0, on November 15, 2017.

H.R. 4292, Financial Institution Living Will Improvement Act of 2017 – Sponsored by Rep. Lee Zeldin (R-NY) and cosponsored by Rep. Carolyn Maloney (D-NY), the bill amends the “Dodd-Frank Wall Street Reform and Consumer Protection Act” to reform the resolution plan submission “living will” process by requiring bank holding companies to submit to the Federal Reserve Board (Federal Reserve) and the Federal Deposit Insurance Corporation (FDIC) resolution plans every two years. This bill requires the Federal Reserve and FDIC to provide feedback regarding a resolution plan within six months after a bank holding company submission. This bill also requires the Federal Reserve and FDIC to publicly disclose the assessment framework used to review the adequacy of resolution plans.

It passed the House on January 30, 2018 with unanimous support, 414-0.

H.R. 4294, Prevention of Private Information Dissemination Act of 2017 – Sponsored by Rep. David Kustoff (R-TN), the “Prevention of Private Information Dissemination Act of 2017” establishes criminal penalties for the unauthorized disclosure of living will and stress test determinations and other individually identifiable information by federal officials, consistent with existing penalties for other unauthorized disclosure of confidential records by federal officials.

It passed the House on June 26, 2018 with overwhelming bipartisan support, 392-2.

H.R. 4537, International Insurance Standards Act – Sponsored by Rep. Sean Duffy (R-WI) and cosponsored by Rep. Denny Heck (D-WA), the bill ensures that international insurance standards and agreements are consistent with our domestic insurance system and provides greater Congressional oversight and transparency on international insurance standard negotiations.

The bill passed the House by voice vote on July 10, 2018.

H.R. 4566, Alleviating Stress Test Burdens to Help Investors Act (Secs. 2 and 3) – Sponsored by Rep. Bruce Poliquin (R-ME), the section of this legislation to be included in JOBS Act 3.0 amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to exempt nonbank financial institutions not  primarily regulated by either a federal banking agency or the Federal Housing Finance Agency from the Dodd-Frank Act’s mandatory company-run stress-testing requirements. Additionally, the bill clarifies that the SEC and the Commodity Futures Trading Commission retain their authority to issue regulations to require nonbank financial companies to conduct periodic analysis of the financial condition of such companies under adverse economic conditions.

The full bill previously passed the House on March 20, 2018 with a strong bipartisan vote of 395-19.

H.R. 4768, National Strategy for Combating the Financing of Transnational Criminal Organizations Act – Sponsored by Rep. David Kustoff (R-TN) and cosponsored by Rep. Kyrsten Sinema (D-AZ), H.R. 4768 requires the President, through the Secretary of the Treasury, to develop a national strategy to combat the financial networks of transnational criminal organizations (TCOs) not later than one year after the enactment of this Act and every two years thereafter. In particular, the strategy will assess the most significant TCO threats and the individuals, entities, and networks that provide financial support or facilitation to those TCOs.  It also reviews current goals, priorities, and actions against TCOs’ financial support networks and will recommend new ways to deter and prosecute those who financially enable TCOs.

H.R. 4768 passed the House by voice vote on March 6, 2018.

H.R. 5288, Common Sense Credit Union Capital Relief Act – Sponsored by Rep. Bill Posey (R-FL) and cosponsored by Rep. Denny Heck (D-WA), the bill delays the effective date of the rule used by the National Credit Union Administration titled “Risk-Based Capital” from 2019 to 2021.

H.R. 5749, Options Markets Stability Act – Sponsored by Rep. Randy Hultgren (R-IL) and cosponsored by Rep. Bill Foster (D-IL), the legislation requires the prudential regulators to implement a risk-adjusted approach to value centrally-cleared exchange-listed derivatives as it relates to capital rules to better and more accurately reflect exposure and to promote  market-making activity.

On July 10, 2018, the bill passed the House with a unanimous vote of 385-0.

H.R. 5783, Cooperate with Law Enforcement Agencies and Watch Act of 2018 – Sponsored by Rep. French Hill (R-AR) and cosponsored by Rep. Bill Foster (D-IL), the “Cooperate with Law Enforcement Agencies and Watch Act of 2018” provides a safe harbor for financial institutions that maintain a customer account at the request of a Federal, State, tribal or local law enforcement agency.

The bill passed the House with overwhelming bipartisan support, 379-4, on June 25, 2018.

H.R. 5877, Main Street Growth Act – Sponsored by Rep. Tom Emmer (R-MN), the “Main Street Growth Act” amends the Securities Exchange Act of 1934 to allow for the registration of venture exchanges with the SEC to provide a venue that is tailored to the needs of small and emerging companies and offers qualifying companies one venue in which their securities can trade.

It passed the House by voice vote on July 10, 2018.

H.R. 5953, Building Up Independent Lives and Dreams (BUILD) Act – Sponsored by Rep. Barry Loudermilk (R-GA) and Rep. Brad Sherman (D-CA), H.R. 5953 allows certain non-profits that are conducting charitable mortgage loan transactions to use either the truth in lending (TIL), good faith estimate (GFE), and HUD-1 forms, or those required under the TILA-RESPA Integrated Disclosure (TRID) rule.

H.R. 5953 passed the House by voice vote on July 10, 2018.

H.R. 5970, Modernizing Disclosures for Investors Act – Sponsored by Rep. Ann Wagner (R-MO), the “Modernizing Disclosures for Investors Act” requires the SEC to provide a report to Congress with a cost-benefit analysis of EGCs’ use of SEC Form 10-Q, including the costs and benefits to investors and other market participants of the current requirements for reporting on Form 10-Q, as well as the expected impact of the use of alternative formats of quarterly reporting for EGCs. The bill also directs the SEC to report to Congress with recommendations for decreasing costs, increasing transparency, and increasing efficiency of quarterly financial reporting by EGCs.

The House passed H.R. 5970 by voice vote on July 10, 2018.

H.R. 6069, Fight Illicit Networks and Detect (FIND) Trafficking Act – Sponsored by Rep. Juan Vargas (D-CA) and cosponsored by Rep. Keith Rothfus (R-PA), the “FIND Trafficking Act” requires the Comptroller General of the United States to carry out a study on how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or drug trafficking, and for other purposes.

The bill passed the House on June 25, 2018 by voice vote.

H.R. 6139, Improving Investment Research for Small and Emerging Issuers Act – Sponsored by Rep. Bill Huizenga (R-MI) and cosponsored by Rep. Maxine Waters (D-CA), the bill requires the SEC to carry out a study to evaluate the issues affecting the provision of and reliance upon investment research into small issuers and pre-IPO companies, including EGCs and other small issuers.

It passed the House by voice vote on July 10, 2018.

H.R. 6177, Developing and Empowering our Aspiring Leaders (DEAL) Act – Sponsored by Rep. Trey Hollingsworth (R-IN), the “DEAL Act” requires the SEC to revise the definition of a qualifying investment to include equity securities acquired in a secondary transaction.

The bill passed the Financial Services Committee on July 11, 2018 on voice vote.

H.R. 6319, Expanding Investment in Small Businesses Act – Sponsored by Rep. Randy Hultgren (R-IL), the “Expanding Investment in Small Businesses Act” requires the SEC to study whether the current diversified fund limit threshold for mutual funds constrains their ability to take meaningful positions in small-cap companies.

The Financial Services Committee passed the bill by voice vote on July 11, 2018.

H.R. 6320, Promoting Transparent Standards for Corporate Insiders Act – Sponsored by Rep. Maxine Waters (D-CA), the “Promoting Transparent Standards for Corporate Insiders Act” requires the SEC to consider certain types of amendments to Rule 10b5-1 to ensure that corporate insiders are not able to indirectly engage in illegal insider trading through changes to their trading plans.

The bill passed the Financial Services Committee on July 11, 2018 by voice vote.  

H.R. 6321, Investment Adviser Regulatory Flexibility Improvement Act – Sponsored by Rep. Gwen Moore (D-WI) and cosponsored by Rep. Bill Huizenga (R-MI), the “Investment Adviser Regulatory Flexibility Improvement Act” directs the SEC to consider alternative methods for businesses or organizations to qualify as a “small business” or “small organization” for the purposes of assessing the regulatory impact on investment advisers.

H.R. 6321 passed the Financial Services Committee by voice vote on July 11, 2018.

H.R. 6322, Enhancing Multi-Class Share Disclosures Act — Sponsored by Rep. Gregory Meeks (D-NY), the “Enhancing Multi-Class Share Disclosures Act” requires issuers with a multi-class share structure to make certain disclosures in any proxy or consent solicitation material that provide enhanced transparency regarding certain shareholders’ voting power.

It passed the Financial Services Committee by voice vote on July 11, 2018.

H.R. 6323, National Senior Investor Initiative Act of 2018 – Sponsored by Rep. Josh Gottheimer (D-NJ) and cosponsored by Rep. Trey Hollingsworth (R-IN), the “National Senior Investor Initiative Act of 2018” or the “Senior Security Act of 2018” creates an interdivisional task force at the SEC, to examine and identify challenges facing senior investors and requires the Government Accountability Office to study the economic costs of the exploitation of senior citizens.

The Financial Services Committee passed the bill by voice vote on July 11, 2018.

H.R. 6324, Middle Market IPO Underwriting Cost Act – Sponsored by Rep. Jim Himes (D-CT), the “Middle Market IPO Underwriting Cost Act” requires the SEC, in consultation with the Financial Industry Regulatory Authority, to study the direct and indirect costs associated with small and medium-sized companies to undertake initial public offerings.

The bill passed the Financial Services Committee on July 11, 2018 by voice vote.

H.R. 6380, Crowdfunding Amendments Act – Sponsored by Reps. Patrick McHenry (R-NC) and Maxine Waters (D-CA), the “Crowdfunding Amendments Act” allows crowdfunding investors to pool their money together into a fund that is advised by a registered investment advisor.

—- end of extended press release —

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Doug Schoen, Clinton Adviser, warns – “Democrats must advance an agenda…to create a society of opportunity for all – not guaranteed outcomes achieved through wealth redistribution.”

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Manufactured Home Shipments, State by State Breakdown, May 2018 Official HUD Data

July 6th, 2018 Comments off

NewManufacturedHomeShipmentDataStateByStateMay2018OfficialHUDManufacturedHousingDataDailyBusinessNewsMHProNews

The Institute for Building Technology and Safety (IBTS) compiles data for the U.S. Department of Housing and Urban Development (HUD) on manufactured home shipments.

 

For May of 2018, the new HUD Code manufactured home shipments by state, is as shown below, per IBTS.

ManufacturedHomeIndustryShipmentReportByStateMay2018DailyBusinessNewsMHProNews598x1505

Notice those shipments to Hawaii?

There were almost as many shipments to Hawaii as to Rhode Island, and more to the island-state than were shipped into Alaska.

The data should be considered against the following backdrops.

MobileHomeShipmentsManufacturedHomeShipmentChartMHIAShipmentsMHIndustryChampionSkylineHUDCodeDailyBusinessNewsMHProNews

What was accomplished previously in sustainable shipment levels, can clearly be done again.

Trading Economics includes the following factoids.

The volatile multi-family segment jumped 11.3 percent to 404 thousand and single-family starts, the largest segment of the market, went up 3.9 percent to 936 thousand. Overall, housing starts surged in the Midwest (62.2 percent to 266 thousand) but fell in the South (-0.9 percent to 653 thousand), the West (-4.1 percent to 329 thousand) and the Northeast (-15 percent to 102 thousand).”

USHousingStarts2008-May2018TradingEconomicsManufacturedHousingIndustryDailyBusinessNewsMHProNews
They also said, “Building permits fell 4.6 percent to a seasonally adjusted annual rate of 1,301 thousand, while markets were expecting a smaller 1.4 percent drop to 1,350 thousand. Multi-family authorizations declined 8.8 percent to 457 thousand and single-family permits went down 2.2 percent to 844 thousand. Overall, building permits fell in the South (-13.9 percent to 626 thousand) and in the West (-4.6 percent to 331 thousand) but jumped in the Midwest (7.2 percent to 209 thousand) and the Northeast (42.1 percent to 135 thousand),” per Trading Economics.

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Yesterday’s deep dive into the report shown below demonstrated the quality and respect that third party researchers have shown for years to modern manufactured homes.

“Why Advocates Need to Rethink Manufactured Home Quality,” Harvard, GSE, Genz, “High Satisfaction”

Yet, the industry is recovering slowly.  Why?  Once more, the article linked above suggests several arguable reasons.

There are millions of new housing units that will be needed as the population grows.

The National Association of Realtors, among others, have said that 8.3 million housing units are needed.

LawrenceYunNARShort8.3MillionHousingUnitsRisingRentsHousingPricesCuredOnlyByMoreBuilding

Collage by MHProNews.

Softbank is investing hundreds of millions of dollars into modular start-up, Katerra.

Billion Dollar Startup Modular Builder, Using Robotics, Could Soon Rival Clayton Homes’ Total Sales

With hundreds of billions in capital money for industry growth is available, for long-term thinkers.

Billions in American Cash Flowing Back to U.S., Repartition Yields Capital for Manufactured Housing or Other Projects

There is a growing groundswell for change, as exemplified by the new national association that was recently announced.

New Manufactured Home Industry National Association Related Statements

The recent Harvard study mentions manufactured and modular homes too.  The data reveals the reality that there is considerable runway for growth, for long-term doers. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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HUD Code Manufactured Home Production Report, May 2018, State-by-State Total

Wheat, Chaff, and the Monday Morning Manufactured Housing Sales, Marketing Meeting

 

Achieving the American Dream, with Quality, Appealing, Affordable Home Ownership

 

Manufactured Housing Program Review Addressed by HUD Secretary Carson during Oversight Hearing

 

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On the Eve of Independence Day, from July 4, 1776 to Today

July 3rd, 2018 Comments off

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MHProNews celebrates success, but won’t shy away from valid concerns.

 

The industry has for year been caught up in the ebb and flow of local, state, and federal politics.

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We don’t mind poking a little fun at ourselves too…

No one in MHVille is covering political or economic issues impacting manufactured homes more than MHProNews.

BrancoCartoonsTrumpVoiceActivatedFireworksManufactruredHousingINdustryDailyBUsinessNewsMHproNews

The Daily Business News has been – and continues to be – focused on the causes of manufactured housing underperforming during America’s affordable housing crisis.

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The industry’s leading trade media focuses on incidents, events, controversies, realities, and solutions.

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This is one of several topics that could drive voter turnout on both sides of the left-right political divide.

That said, there’s also a periodic need for a lighter side.

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Frankly, sometimes humor is a great way to make certain points.

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We are evidence and reason based, and these cartoons spark thinking.

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Safe travels for all our readers who are or will be traveling.

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Politically Incorrect Cartoon Commentaries, Lighter Side of Making America and Manufactured Housing Great Again

 

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HUD Code Manufactured Home Production Report, May 2018, State-by-State Total

July 3rd, 2018 Comments off

 

HUDCodeManufacturedHousingIndustryMay2018ProductionReportByStateDailyBusinessNewsMHProNews

The Institute for Building Technology & Safety (IBTS) released the statistics for May 2018 this morning.

The data is shown as below, based upon facts compiled for the U.S. Department of Housing and Urban Development (HUD).

ManufacturedHousingProductionReportByStateIBTSMay2018ManufacturedHousingIndustryDailyBuisnessNewsMHProNews600x1720

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A more complete breakdown of HUD Code new manufactured home shipments data will be published later this week. 

Manufactured Home Production and Shipment Report, April 2018, per MHARR, HUD, IBTS

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Factory-Crafted Home Living, Reimagined – “The Art Park” vs. MHCs – Interview with Robbie Antonio, Founder of Unicorn Revolution Precrafted Homes

June 20th, 2018 Comments off
TheArtParkRobbieAntonioRevolutionPreCraftedHomesManufacturedModularPrefabHousingIndustryDailyBusinessNewsMHProNews

Still from the video below. Text, collage by MHProNews.

Housing is a global need, and Asia is the largest market. As the Daily Business News recently reported, U.S. based Hometown America is one of several operations in manufactured housing that has ties to Asia, some of which are deepening.  Hometown’s recently announced deal is valued at nearly ½ a billion dollars.

 

CNBC is a division of NBCUniversal, and their “Managing Asia” program is about the Asia Pacific region, featuring CEOs, entrepreneurs and other business leaders.

Divestopedia defines a unicorn like this, “…a unicorn refers to any tech startup company that reaches a $1 billion dollar market value as determined by private or public investment. The term was originally coined by Aileen Lee, founder of Cowboy Ventures.”

In a release to MHProNews, CNBC’s Christine Tan provided the following transcript of an interview with Robbie Antonio, or Revolution Precrafted, a firm which asserts their focus on “Modern Prefab Homes by World Renowned Architects & Designers.”

Here in the U.S. “trailer parks” evolved into “mobile home parks” of 5 (+/-) decades ago have become what a number of industry professionals today refer to as “land lease communities” or “manufactured home communities.”

Forget all of that for the next few minutes, save as history and background.

Then, consider what Robbie Antonio is doing to bring factory-crafted homes into the future. Note how Antonio is attracting global attention, including well qualified buyers and investors alike.

The project that Tan is asking Antonio about is the one in the video, below.

 

 

Christine Tan: You know Robbie, we’re here at this 150 hectare park at Batulao Artscapes which you call a living Art Park. What can one experience by living here?

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Robbie Antonio. Credit: Design Bloom & Revolution Precrafted Properties.

Robbie Antonio: I’ve seen other art parks around the world and many of them are just museums and you get to see art and then you go back home. Imagine living in it. Imagine living in a David Salle house, Elizabeth de Portzamparc house, and really being surrounded by this magical environment.

C: What is the price point? How cheap can a prefabricated housing be?

R: The house and lot here is less than 50,000 dollars which is about 3 million pesos or so

C: Your family has been in real estate for almost 30 years. You started Revolution Precrafted in 2015 to essentially create a startup for prefab housing. How did you stumble upon the idea?

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R: I come from the real estate world and I’ve been doing this for over 10 years. In New York, I built my own company called Antonio Development where I did a project in the Plaza District, the most sought after area in all of Manhattan, close to Central Park where nothing has been made in 20 years. So when I did that with Mr I.M Pei, it was the first round of residential products I had ever done. At the very early age of 28 I started the idea of positioning buildings in a proper format, came back to Manila and did a flurry of branded towers with fashion companies such as Armani, Missoni and Versace. I did Trump Tower and also projects with Hollywood icons such as Paris Hilton where I did 9 towers with them. In mid-2015, I wanted to do something extremely disruptive. I wanted to be an asset-light, no inventory business and global.

C: So you were tired of the old model?

R: Yes, to begin with, and second I was looking at major unicorns like Airbnb and Uber from miles away and I basically said this to myself: “What do they have in common?” I asked myself this for a straight week. No inventory, asset-light, using technology and truly global.

I feel that I’m a man of the world and I did not want to just do projects here in Asia. I wanted to look at the world as if it were all the same country and I wanted to be global without being asset heavy. Then it just dawned upon me. It was like a Eureka moment, an epiphany in the middle of 2015. I wanted to investigate an industry called the prefab market, a space which allows you to get from Point A to Point B very succinctly.

It’s a means to the end, not the end. The end is to truly be everywhere, ubiquitous, and I wanted to be prevalent and omnipresent in all the regions of the world. I’ve told my team I want to be in 25 different countries this year, 55 by next year, 85 in 2020 and possibly go public then.

C: You’re not worried about cannibalizing your family’s real estate business?

R: Why would you talk about cannibalization when you should be talking about complementary businesses?

C: How so?

R: We’re in Batulao, it’s a 145 hectare development. This specifically is a Century Properties Development, the only 1 I’m doing out of 11 countries and all the master plans we have closed. Case in point you have David Salle’s house there, Elizabeth de Portzamparc’s house here. Most of these developers outsource construction and supplying of construction to an entity anyway so that’s adding value, not cannibalization.

C: So I know it’s your own business but what did your father say when you told him about it?

R: I told him after the fact. I said this is what I’m doing, I’ve been working on this and I’m recently launching this in Miami Art Basel which had just happened a week or 2 weeks before. So I’m very independent, I’ve always been an independent person. To be emancipated and to really feel empowered is something that is integral to my existence.

C: You literally introduced brand to the whole concept of prefabricated housing by listing well known designers like the late Zaha Hadid and Tom Dixon to create these pre-fabricated housing for you. How do you get these high-end well known architects and designers to create something? They’re so used to big budgets, how do you get them to create something at a fraction of the cost? How big a challenge was it?

R: That’s the point. That’s why it was so intriguing for a lot of people and that’s why it was so intriguing for me. I always say in business that if someone’s in, I’m out. So that really means I always want to be a first mover in anything I do, and for this particular case as you just stated a lot of these brands are used to doing mega mansions or mega museums. Jean Nouvel’s did the Louvre Abu Dhabi, a billion dollar project but now we’re doing a Jean Nouvel museum here for not even 0.5% of that. So it was this antithetical rationale and business concept that was intriguing for them.

StillFromRevolutionPrecraftedPropertiesVideoTheArtParkManufacturedHomeLivingNewsMHProNews600x

Collage based upon still from video above.

C: They took it as a challenge?

R: Of course! If you have the foremost brands in design and architecture doing really expensive structures with probably no budgets at all, you get people to think a little bit more. That sets parameters like a mathematical equation and gets people to challenge themselves more.

C: I can understand architects, but you recently just signed on Manny Pacquiao –

R: That was last night, haha.

C: What has boxing got to do with housing?

R: I’m going to do sports cities around the world with him.

C: That’s your latest addition?

R: That was yesterday, he’s our 76th one. I told everyone in my office that I’m going to stop when we hit 100 and take a break.

RevolutionPreCraftedYoungGunsLegendsRobbieAntonioTrump-ModularPreFabHomeMHLivingNewDailyBusinessNews

MHLivingNews and MHProNews were the first in the manufactured home space to spotlight this rising star in prefab housing. Note the thinking of Robbie is similar to that of builder-businessman Donald Trump – “I like thinking big. If you are going to be thinking anyway, you might as well think big.” https://www.manufacturedhomelivingnews.com/young-guns-legends-robbie-antonio-eric-trump-high-end-designer-prefabs-class-for-the-masses-revolution-pre-crafted-properties/

C: How did you convince Manny Pacquiao to sign with you?

R: First we’re the only branded housing company in the world, bar none. So ultimately it’s a choice of doing it with some entity that has not done it or it’s not within their business plan, or doesn’t understand the full ethos of high impact design and doing it at an accessible price point.

He’s a humanitarian and that’s what I like about him. So we’re talking about creating sports cities and fitness centres under his name and his design, possibly even his land and really trying to change his neighborhood. That’s what I found also enthralling about the entire conversation, and we’re going to go after it. I don’t go for brands just because they’re famous; I go for people who are relevant.

C: So, you’ve got housing, you’ve got this, and you’ve got sports cities and sport complexes, what’s next?

R: At Revolution we’re doing multiple products in multiple geographies. I want to be in 6 regions in the world pretty much everywhere in the world. We’ve hit 4, definitely Asia with our projects in Myanmar, Philippines and Indonesia. For Dubai, our mega project in 9 islands in the world, we’re a foreign group doing something there where not even locals have actually announced so it has been something really interesting to us. I just came from Bahrain where I spoke and we’re definitely going to enter that market as well.

C: But what’s next? Office towers? Skyscrapers? What’s next for Robbie Antonio?

R: We’re going to go vertical, and we’re going to do prefab condominiums and prefab hotels later on this year. We’re actually going to do an Art Hotel here which is still relevant to the art concept. Aside from just creating products, we also engender creative and ingenious concepts for different master plans.

C: Revolution became profitable barely a year after it opened for business.

R: Yeah, the first quarter actually.

C: Did you ever think you would be so successful so quickly? You’re actually the Philippines’ first unicorn startup

R: I mean, I knew we were going to be successful, but I didn’t know the speed with which we were going to achieve this. A lot of these other mega startups, so-called unicorns have unbelievable valuations which raise a billion dollars so on and so forth, but I wanted to stay true to the integrity of the firm to be an asset light business model and to be everywhere.

C: You’ve signed up more than 7 billion dollars in deals in countries like Puerto Rico, Japan and Dubai, in more than 10 markets. Which overseas markets are you eyeing next?

R: I’m going to Europe next week, to 8 or 9 different countries. Scandinavian countries love modular prefab systems and I’m going to Norway, Sweden, Finland, also going to Poland as well and Spain. But this is a night each, this is no vacation. I haven’t had a single day of vacation since I started the company.

C: I understand the basic concept of your business model is that you manufacture parts of the home in the factory then you ship them on-site before assembling them like Lego bricks. How big a challenge is that, logistically?

R: Extremely complex. The prefab business has always been a fragmented industry, meaning that American prefab companies cater mostly to American end users and you go straight to retail. Asian ones are catering to Asians, Malaysian ones are catering to Malaysians and so forth, and it’s the same thing in Europe.

C: So you try to build the factories close to your projects?

R: No, that’s why I have a network, because the orders are coming from different parts of the world. In some cases for example Batulao is not all, fully prefab. Some are inserted on site in terms of some of the components.

C: So it’s basically cheaper to do it that way?

R: Yes, and faster. This goes back to the value proposition of Revolution. The first is speed, we’d like to say we produce things – we used to say at least 90 days, but now I produce in 45, 60 days.

C: So how safe is your housing, Robbie?

R: These are rigorously tested from the factories which go up to 250km/h seismic conditions to the highest degree, so these are very strong robust structures.

C: So just to clarify they can withstand a bad typhoon or a bad hurricane?

R: Why do you think we’re shipping in Puerto Rico and why do you think our orders are coming from there? Didn’t they just have a massive hurricane there last year? This is exactly why the value added is also helping people get to the points they usually can’t get to. For example, Islands, Dubai the World Islands is perfect. Puerto Rico, Vieques is perfect.

C: So you’re actually solving the world’s housing shortage problem?

R: In a way. I mean think about it right? It’s not all about design anymore. The amazing thing about it is it’s not a want, it’s a need and that’s something we’re trying to solve here.

StillFromRevolutionPrecraftedPropertiesVideoTheArtParkManufacturedHomeLivingNewsMHProNews

Still from video above.

C: I know you’ve done the math, so I know you’ve worked out how much it costs in terms of transportation costs and shipping, give me an idea how much it costs to actually ship such a big structure to market?

R: It’s actually not that much. Our containers ship a little bit over a thousand US Dollars only, so some of these homes can be put in 2 or 3 containers and you can do the math, when it gets from one point let’s say Southeast Asia to Australia.

C: So you’re inking all these multimillion dollar deals everywhere across the world. But are you investing enough in factories to support the kind of growth you see overseas?

R: We have an amazing network of global fabricators, and depending on where their orders are coming from and from which region in the world, I basically make that call and start producing these homes. So it’s a really B2B2C model where we partner and form a joint venture or we supply to a developer and they turn it out to the end user, and so far the sales have been super robust. For example, our project in Lakeshore Pampanga, the world’s first livable food bar, sold over a 1000 homes in about 2 months so it’s very enriching to see that people appreciate what you do.

C: Are you upping your investment in factories? What sort of amount are we talking about?

R: Absolutely. Ultimately later on I’d like to have different networks of different fabricators, but I’m not at that point right now. I’d like to create my own because I’m literally a control freak.

C: You want to set up your own factory?

R: Yeah.

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C: When will it happen?

R: As early as this year actually. I’m already having conversations with amazing technology providers and we’re just going to go make the investment

C: So how many of your own factories do you ultimately want to have?

R: Ideally I’d like to have 1 per region, so ultimately that will be 6. I’ll start with Asia because that’s where most of the orders are coming from.

C: So, late last year, you’ve actually raised an undisclosed amount of money in your second round of funding from Singaporean venture capital K2 Global. Given all these deals you’re inking and your need for investment in factories, how soon before your next capital raising exercise?

R: I’m probably not going to do a Series C because we don’t need the money until maybe next year. We’ve gotten good fresh round from institutional investors and large family offices so I think it won’t be until next year when I have hundreds or thousands of these homes already and different master plans to show, and I’ve reached the goal of hitting the 25 countries we have to have penetrated by the end of the year.

C: What are your plans to take Revolution public? What are you looking at?

R: I mean there are only 2 ways to go to exit out of this or to maintain it. One is to sell it to a company.

C: Are you interested in that?

R: Look, the biggest homebuilders in the world are in America and they’re worth 10-13 billion so how can they buy some entity which should be selling at more than that? So the only way to go like many of the unicorns you’ve seen is to go public

RobbieAntonioArtParkVisionToAmericaStilfromVideoManufacturedMOdularPrefabHomeDailyBusinessNewsMHProNews

C: Where would you list?

R: Probably America, UK, or Singapore

C: What sort of time frame are you looking at?

R: Maybe 2020 or 2021.

C: Give me a sense of how big you will be in 2020?

R: 85 countries, we hope – north of several billion dollars of revenue a year.

C: North of several billion dollars?

R: That’s for sure

C: What are you talking about, 10 billion, 20 billion?

R: No, that’s probably a valuation but that will be very difficult to achieve in terms of revenue and high profitability. The greatest thing for our business would be if we can achieve the sort of scale where we can be truly global, supply everywhere, and be very highly profitable.

C: What is highly profitable to you? What sort of figure are you looking at?

R: 30, 35% margin

C: And is that something you’re looking at?

R: So, think about it. We have total project revenues about 7.2. About a 3rd of that goes to construction, that’s our revenue. So you can just do the math accordingly and then we make about 30% of that, so that’s what we’re expecting from the current deals. I haven’t even got to Europe yet though, but that’ll be next week.

C: Do you worry about expanding too fast?

R: Do I worry about expanding too fast? I don’t think I’m expanding fast enough in fact.

C: Really?

R: I’m a man of instant gratification and quite frankly I need to see things done very quickly. Expediency is integral and I always say my biggest weakness which is actually my biggest strength as well, is my impatience. I like to see things in a jiffy.

C: Will you be happy just heading Revolution Precrafted? Is there something else in the pipeline you want to kick off?

R: Not at all, I don’t think this is the ultimate legacy.

C: What other things are you planning?

R: I think we’re doing something great here.

C: But what projects would interest you? Does it have to be a 100 million dollar idea or 200 million dollar idea?

R: No, it’s got to be a several billion-dollar idea for me to jump and be excited about something, and it’s not just about the math believe it or not. It’s about truly changing the way people think about something. That’s what really interests me, the challenge of that. The sheer challenge and difficulty of achieving something that is seemingly insurmountable challenges me.

C: You father is well known Philippine real estate tycoon Jose Antonio of Century Properties. You’ve joined him in the ranks to be among Forbes’ 50 richest in the Philippines. How does it feel like to create your own business, to be successful in your own right?

R: It’s obviously gratifying. I know a lot of people and friends from different countries who are of the 2nd or 3rd generation and I respect that but I respect the founders more. I mean growing a business is very impressive, but starting a successful business is the most difficult thing.

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C: So you don’t want to be seen as the 2nd generation, you want to build something in your own right, in your own right?

R: I’ve already done it, so I think that’s the point of this exercise. And look, I don’t know what you call that, insecurity. Sometimes when I interview people I actually like people who are because they always have something to prove and when you have something to prove you work harder than everyone else.

C: You have something to prove all the time?

R: To myself. Not to anyone else, but to myself.

C: So your family is in real estate, your father obviously running Century Properties. Any valuable lessons you picked up from him over the years as young boy watching him grow his business?

R: I mean I obviously thank him because my love for real estate came from him so I will never take that away from him. But the desire to do something differently, the desire to create something is truly inborn and sort of innate with me, so I always try to innovate, disrupt an industry or industries.

C: Whether it’s Paris Hilton, Lenny Kravitz or Adrien Brody, you in particular hang out with the who’s who in the celebrity world. What’s it like having friends in such high places? Is it mostly business or mostly pleasure?

R: First, I don’t just hang out with celebrities. I mean a lot of people think that but a lot of it is they’re my friends. Some of them are my very good friends or my best friends. To me work is play; to me a trip in Spain has got to be filled with meetings aside from other things. It’s all intertwined in one.

C: So you always try to find a way to turn a personal relationship into a business relationship? You’re always looking for an opportunity?

R: I always think, “Is there a deal here?”

C: So when you’re talking to Lenny Kravitz or Adrien Brody, you’re always thinking is there something I can do with them?

R: I bet you half of them are thinking the same way! So I might as well just make the first move, some of them may come to deals and some of them may not be deals and that’s really ok,

I get back to them in a couple of months or weeks when I have something formidable because I want everyone to be excited by this.

C: You’re one of the most well connected young Filipinos today. You’ve been described as someone with a magnetic personality that no one can say no to. Are you really that persuasive when it comes to closing a deal?

R: First I think I give the value proposition in a succinct and formidable manner where they can truly understand it and buy into it. I think obtaining 76 of the world’s best architects and designers is not an easy thing and I’ve been doing this prior to this, so I’ve totaled it to about 84, probably more than any human being in the world

C: So you just turn on that Robbie Antonio charm to get people to say yes to you?

R: No, I mean, I think it’s just my personality. I’m very much driven by obtaining these things

C: Do people ever say no to you?

R: Of course some people do. Very few, but some people do. Most say yes and we’d like to keep it that way

C: You’re 41 years old, born in the Philippines. You studied many years in the US, got your Economics degree there, an MBA from Stanford, spent 5 years working in the US, joined your father’s business in 2009, and then really founded Revolution Precrafted in 2015. How would you describe your leadership and your management style? What is Robbie Antonio like?

R: I’m hardcore. I have an almost West Point type of leadership, military style. In fact I love interviewing military people, people who have business backgrounds because they’re very disciplined. I wake up my team up at like 4:35 in the morning.

C: You wake them up at 4:35 in the morning?

R: Yeah, I basically Whatsapp all of them and I ask for reports and all that and I’m probably the last person they hear from in the evening.

C: Is it true you have a rule in the office where employees have to answer a text or an email within 10 minutes of getting it and accomplish the task within 24 hours?

R: Yeah, that is correct and if I don’t hear from them, I have 1 of my assistants (and I have 4) contact them to get me a response.

C: Why is speed important to you?

R: Because it’s always a race. People say it’s not a sprint, it’s a marathon, but I strongly disagree. It’s both, it’s always a sprint and then you need to be sustainable to make it a marathon.

C: And finally as one who’s won awards and really made the journey, what advice would you give other young entrepreneurs on how to build great disruptive businesses?

R: Think bold, always think big and achieve it no matter what people say. Be passionate, be obsessed, do it all. Know your rights and never, never, ever give up. Once you give up it becomes a habit and you don’t ever want that to happen. ## (News, analysis, and commentary.)

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Related Reports:

$1.1BillionDollarPreFabProjectRobbieAntonioRevolutionPreCrafttedHomesDailyBusinessNewsManufacturedModularPrefabHomeIndustryMHProNews

Robbie’s Revolution Precrafted’s $1.1 Billion-Dollar PreFab Project

 

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Owners Report Increased Profits, Compensation, Expansion Plans

June 19th, 2018 Comments off


OwnersReportIncreasedProfit$CompensationandExpansionPlansPresCEOJuanitaDugganNIFBManufacturedHousingIndustryDailyBusinessNewsMHProNews

The Small Business Optimism Index increased in May to the second highest level in the NFIB survey’s 45-year history,” said the National Federation of Independent Businesses (NFIB) to the Daily Business News in a release. “The index rose to 107.8, a three-point gain, with small businesses reporting high numbers in several key areas including compensation, profits, and sales trends.”

Hundreds of manufactured housing firms are represented by the NFIB, as a source with the Washington, D.C. based organization told MHProNews in 2017.  All told, some 325,000 small businesses of all kinds are NFIB members.

Main Street optimism is on a stratospheric trajectory thanks to recent tax cuts and regulatory changes. For years, owners have continuously signaled that when taxes and regulations ease, earnings and employee compensation increase,” said NFIB President and CEO Juanita Duggan.

The NFIB is celebrating 75 years serving as “the voice of small business.”

Their May 2018 report hit several records:

  • Compensation increases hit a 45-year high at a record net 35 percent.
  • Positive earnings trends reached a survey high at a net three percent.
  • Positive sales trends are at the highest level since 1995.
  • Expansion plans are the most robust in survey history.

Small business owners are continuing an 18-month streak of unprecedented optimism which is leading to more hiring and raising wages,” said NFIB Chief Economist Bill Dunkelberg.

SmallBusinessOptimismIndexMay2018ManufacturedHousingIndustryDailyBusinessNewsMHProNews

While they continue to face challenges in hiring qualified workers, they now have more resources to commit to attracting candidates.”

SmallBusinessOptimismGraphIndexMay2018ManufacturedHousingIndustryDailyBusinessNewsMHProNews

Access to credit continues as a non-issue with 37 percent of owners reporting all credit needs were satisfied and 43 percent saying they were not interested in a loan, down seven points from last month and the lowest reading since 2007,” said NFIB. “Only one percent reported that financing was their top business problem. Owners planning to build inventories rose three points to a net four percent, the nineteenth positive reading in the past 20 months.”

NFIB was an important part of the coalition that supported the Tax Cuts and Jobs Act. ## (News, analysis, and commentary.) 

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Facebook, Marketing & News – Manufactured Housing Pros, Sarah Miller, ‘Citizens Against Monopoly’ Sound the Alarm

June 19th, 2018 Comments off

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We got word that [Tuesday], Facebook Inc. is inviting Capitol Hill staffers to Washington DC’s “newest, most exclusive event venue” for free food and drinks. Events like this enable Facebook to peddle influence in the halls of power, and keep lawmakers from cracking down on its abuse of our democracy.”

So begins a statement by Sarah Miller, of Citizens Against Monopoly to the manufactured housing (MH) industry’s Daily Business News received at 8:15 PM last night. CAM is a subset of the Open Markets Institute, which promotes prosperity and liberty, including through their antitrust efforts.

MH industry marketing professionals are among the sources who have raised concerns over the enormous – and still growing – power that Facebook and Google have in marketing manufactured housing.

Voices across the left-right divide have increasingly been concerned too, because they exert so much sway over politicians.

But among those-laser focused on the issue is a group called Citizens Against Monopoly (CAM).

So we would like to extend the RSVP to you, the Citizens Against Monopoly community,” stated their message, about the latest Facebook lobbying move.

Some details about the Facebook event follow.

What:

“A Place to Connect, D.C.”, bringing together “the D.C. community and Facebook” for “conversation and product demos”

Where:

The Showroom, 1099 14th St NW, Washington, D.C.

When: 1:30 pm – 7:30 pm, June 19

RSVP

 

CAM on Facebook’s Lobbying

In the first quarter of 2018, Facebook spent $3.3 million lobbying the U.S. government, more than ever before,” CAM’s Miller told MHProNews.That’s a key part of how it builds power and evades accountability, and events like this one are part of the process.”

At “A Place to Connect,” Facebook’s #3 executive and top lobbyists will be schmoozing the people who are supposed to represent us, and trying to bamboozle Congress into believing that the company’s reforms are for real,” Miller said.

For instance, a former corporate lawyer who is now Facebook’s deputy chief privacy officer will try to argue that Facebook is stepping it up on privacy — all actual evidence to the contrary,” she asserts.

Industry readers may have seen Facebook’s ads on cable TV and elsewhere. Facebook is pitching their reforms to the public, ever since the Cambridge Analytica scandal broke.

But critics say that Facebook has failed to seriously address the fact that they played a significant role in former President Barack Obama’s 2012 re-election effort, as did Google. Given their enormous power in online search, Facebook and Google are among those forces that can help make or break a candidate.

Other presenters will be discussing Facebook’s role in the opioid crisis and its approach to election integrity, vital topics that are in the national interest. Facebook is billing the event as a “conversation” — if that’s the case, the people affected by Facebook’s bad behavior should be in the room to ask the tough questions,” Miller said to MHProNews.

With so much at stake in the debate over Facebook and the future of internet privacy, your voice deserves to be heard. So if you’re able, show up and ensure that the public is represented,” CAM stated.

 

Facts About Facebook, Google’s Growing Power

A December 2017 report by Statista said, “In fact, two companies, you may know them by the names of Google and Facebook, are so dominant in the online world that they account for more than 60 percent of global online ad revenues.”

Many mainstream news operations are alarmed at how much ad money – and thus political power – Facebook and Google have accumulated.  Warren Buffett is among those who have said that many media outlets will fail as a result.

GlobalAdSpendFacebookGoogleManufacturedHousingIndustryDailyBusinessNewsMHProNews

The trend lines are similar to the trend lines in manufactured housing consolidation, see that chart, further below.

Among the concerns are the fact that Facebook’s Mark Zuckerberg himself said in congressional testimony that there is a strong bias against conservatives, and for leftist, so-called “progressive” political causes.

New York Stern university’s Scott Galloway has been cited previously as a pro-tech voice, that believes that the Big Four must be broken up.

The RSVP is for the Facebook D.C. event is linked below.

RSVP

While most industry pros are unlikely to be able to attend on such short notice, Citizens Against Monopoly provide the following link to ask the Federal Trade Commission (FTC) to break up Facebook.

Sign the Freedom From Facebook petition: Tell the Federal Trade Commission to break up Facebook’s monopoly.

 

Industry Trade Media and Monopoly Reporting

Regular, longtime readers know that MHProNews has cited similar concerns over the monopolistic influence over the industry exerted by Warren Buffett’s Berkshire Hathaway. To see how others in the mainstream media have raised similar concerns about Berkshire Hathaway’s increasingly monopolistic domination of manufactured housing, see the related reports links below.

Among the manufactured home industry’s trade media, or those in MH who blog, etc., MHProNews has stood largely alone in raising concerns about monopoly power in the industry.

To their credit, the Manufactured Housing Association for Regulatory Reform (MHARR) in their reports has raised alarms over Berkshire Hathaway brands like Clayton Homes, 21st Mortgage and Vanderbilt.

But MH industry bloggers and publishers are happily taking ad money from the Manufactured Housing Institute (MHI), and are largely silent on the disturbing trends. Many in MHVille believe that MHI is dominated by Berkshire Hathaway and their related interests.

One industry blogger that does periodic MH news admitted that “1,000” manufactured home industry professionals are talking about the influence of monopoly in MH, but that only MHProNews is focused on the subject. That MH blogger succumbed months ago to running more pro-MHI news too.

Given the trend lines of industry consolidation, it is a subject that no industry professional or investor can reasonably ignore.

When Republican Senator Ted Cruz (TX) and Democratic Senator Elizabeth Warren (MA) are both speaking up about the corrosive influence of these monopolies, isn’t it time for more industry pros to sit up and take notice? These linked related reports can be read later, for more details.

Breakup “Massive Power” of Giants, “Subvert Our Democratic Process” Says Senator Cruz, & MH CEO’s Call for “Fully Competitive Housing Access”

Along with Apple and Microsoft, operations that are racing towards a trillion dollars in market cap which may be obtained next year, and how that can “suck the oxygen” out of the room for capital and competitors, as Galloway has said.

 

In the recently decided anti-trust case, some argued for AT&T that their survival is dependent on growth.

When a giant like AT&T, or Walmart are concerned about the rise of FANG or Amazon, and industry pros fret over the power of Berkshire Hathaway in MHVille, isn’t it a common-sense concern that federal regulators and advocates ought to address?

ClaytonHomesSkylineChampionCavcoIndustriesBalanceofIndustryManufacturedHousingIndustryConsolidationGraphicPieChartMHProNews

Graphic by MHProNews, using information provided by each corporation, or named entities. 

We Provide, You Decide.” © ## (News, analysis, and commentary.)

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Related Reports:

Clayton Homes, Top 25 Manufactured Housing Industry Report, Trend Lines

Wall Street Journal – Tech Giants are Monopolistic Threat to Businesses, U.S. Economy

“Audit the Algorithm!” – Mark Zuckerberg, Facebook and Google Monopoly – Manufactured Housing Marketers Notice

Progressive “Nation” Reports on Monopolies Cites Buffett, Clayton, Others – MH Industry Impact?

Smoking Gun 3 – Warren Buffett, Kevin Clayton, Clayton Homes, 21st Mortgage Corp Tim Williams – Manufactured Home Lending, Sales Grab?

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