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Forbes Focus on Manufactured Home Communities, Spotlights Sam Zell’s Equity LifeStyle Properties (ELS), MHC Investing

December 31st, 2018 Comments off

 

ForbesBradJohnsonEvergreenManufacturedHomeCommunitiesSamZellEquityLifestyleELSMHCInvestingFMHAMHProNews600

The writer of the Forbes column cited and linked below is a manufactured home community owner named Brad Johnson.  Johnson, not unlike RV Horizon’s Frank Rolfe, misuses the terminology, perhaps for SEO or other reasons.

 

Johnson in Forbes cites Sam Zell’s Equity LifeStyle Properties or ELS.  It’s Zell who made it a repeated public point to poo-pooh the ‘t-word.’

 

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Collage by MHProNews. ELS photo and community photos are provided under fair use guidelines. Photo of Sam Zell, by MHProNews.

 

By contrast, former modest community owner and blogger George F. Allen, in his trade-mark inconsistencies, wags a finger at those who don’t say “land lease communities,” yet recently added the term “mobile home” to his blog’s header. Don’t try to figure retired Marine G.F. Allen (GFA) out. He’s arguably only consistent when it comes to what he thinks are his own interests, say former clients of his. The rest, per sources and experience with GFA, are details and commentary.

 

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But the point is that there’s plenty of variables in the manufactured home community world on the use of correct or incorrect terminology. Some insist on it, others could care less, and some are blatant hypocrites.

Before pressing ahead, the reason we at MHProNews and MHLivingNews believe proper terminology matters is ironically alluded to indirectly by the Forbes writer, Johnson.

Mobile home parks’ are arguably better appreciated today than in some years gone by, for reasons cited in Johnson’s generally useful column.  But despite consistent returns, and their ability to weather recessions, etc. what’s more properly known as a manufactured home community (MHC) are nevertheless not seen as ‘sexy’ investments.

‘Trailer parks’ are understandably even less appealing to the general public.

The answer isn’t to go with the flow on terminology or industry challenges. Dead fish go with the flow.  But to effect lasting image change belongs to those who make it happen in their own local market(s). Anecdotal evidence suggests that residents’ value – and that of the industry – is being denigrated by the ‘t’ word, and is diluted by saying “mobile home,” if in fact someone is describing a HUD Code manufactured home.

 

TrailerHouseMobileHomeManufacturedHomeFactoryBuiltHousingEvolution101MHProNews-MHLivingNews

You must meet people where they are. Terminology must be taught and caught. Make a habit of using the correct terminology.

Unless the units were built before June 15, 1976 – then ‘mobile home’ is simply not the correct terminology, period.  Steve Duke, JD, in his pithy quote for MHLivingNews below underscored that point.

 

TerminologyMattersBecausetheTerminologyDescribestheConstructionStandardsHomeBuiltToSteveDukeLMHAaMHLivingNewsMHProNewsBiggerPocketsSunshineHomesRedBayAL

The terminology matters because
the terminology determines the
construction standards a home was
built to,” Steve Duke, LMHA.

 

That said, one of the fascinating points obliquely made by Johnson is an oblique slam at the Manufactured Housing Institute (MHI) and their National Communities Council (NCC) for a ‘lack of sound data.’

ELS is used by Johnson as a publicly available standard for good metrics. Quoting:

“…Sam Zell’s Equity LifeStyle (ELS), the largest company in the mobile home park space (and our best proxy for industry data, which is nonexistent).”

MHProNews has for years similarly cited Sun, ELS, and/or UMH Properties for their published data.

Why?

Because accurate information is otherwise largely lacking. Shame on the industry’s post-production association – MHI – for not curing those data deficits. Instead, MHI has arguably have made it worse to the degree that they weaponize favored firms claims vs less favored ones, even if the favored firms information is incorrect. Case in point.  Each of the three current/former MHI/NCC member firms noted in the related report found in the linked-textbox below have different data points on manufactured home communities. MHI took the lowest total, from MHVillage – though sources at MHVillage have privately admitted that their MH Community count is too low.

 

Frank Rolfe, Dave Reynolds, George Allen, Manufactured Home Community Controversy Continues

 

One of several problems not mentioned by Johnson in the Forbes column further below is that the MH Communities sector is actually shrinking.

That may drive up demand short-to-mid term, as Johnson notes. Contrary to what Johnson suggested, there are some new communities being added, as the graphic below indicates.  Some manufactured home communities are also expanding the number of existing sites, on adjacent previously-vacant land.

DataCompMHVillageNewManufacturedHomeCommunityOpeningsNotMobileHomeParksManufacturedHomeIndustryResearchDataReportsMHProNews

But despite a modest number of new opening MHCs, the overall trend for the number of communities in manufactured housing is down, due to community closures.

An analyst or investor can slide-rule that vexing trend in various ways.

But who do you know in the Investment World that argues that multifamily housing apartments are struggling because so many are being built every year? Think about that.

Manufactured housing in general – or even the demonstrably more stable manufactured home communities – are arguably underperforming. That means that a savvy investor enjoys good potential upside. Among the headwinds? Regulatory and stigma. The later is again why proper terminology should be consistently used.  Capital has returned to the U.S. and to this sector of the industry, as MHProNews has reported, and both of those are a plus.

Let’s see how the Florida Manufactured Housing Association (FMHA) framed their battle against stigma for the public in a video supplied by their “Hand Built Homes” campaign, as shared 11 months ago to MHLivingNews.

 

 

With that introduction and analysis, let’s look at what Johnson wrote in Forbes, found at this link here, or from the in depth quotes below his headline and featured image.

 

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Mobile home park investing is not an exciting cryptocurrency, a high-flying tech startup or a trophy office tower you brag about owning. A mobile home park is just a parking lot filled with single- or double-wides that kicks off a lot of cash flow.

I co-own a portfolio of 23 mobile home parks and help real estate investors grow their portfolios with mobile home park investments. There are a lot of unique aspects to the industry that make mobile home parks compelling investments. But, for some strange reason people do not gather around me at parties to learn about the intricacies of them. So, to keep your attention, let’s focus on just one strength most parks share: consistency.

A portfolio of mobile home parks purchased at the right price is a remarkably bankable investment. Mobile home parks deliver profits year in and year out, whereas their cousins (apartment buildings) are often far more erratic. Why?

Compared to apartment buildings, mobile home parks tend to:

  • Have dramatically lower turnover: Only about 2% of the homes leave our parks per year, versus the average apartment tenant yearly turnover, which was 53% in 2015.
  • Have lower operating and capital expenses due to fewer maintenance costs and amenities: We rent land, which is pretty cheap to maintain.
  • Have less volatile rents due to reduced competition. There is essentially no new supplyof mobile home parks. Strict zoning laws make them nearly impossible to build. Compare that to apartments buildings, of which more than 350,000 new unitswere built last year. That’s a never-ending supply of new competition for existing apartments. That sounds horrible. Who wants to go out in the cold and slay a new dragon every year? I’d rather be back at the castle by the fireplace counting land rent.

All these differences translate to consistent profits. Consider the profit track record of Sam Zell’s Equity LifeStyle (ELS), the largest company in the mobile home park space (and our best proxy for industry data, which is nonexistent). ELS has achieved positive profit growth in every quarter since 1998. That’s impressive: America suffered a huge housing crisis in 2007, but ELS grew profits anyway. This isn’t a fluke or something unique to ELS. This consistency is structural to the industry.

Comparison To Other Commercial Property Types

To fully understand the lower capital advantage mobile home parks have over other non-multifamily real estate assets, here are the remaining major commercial asset types and their roadblocks to consistent cash flow performance.

  • Office properties:Occupancy is highly susceptible to recessions and requires huge ongoing capital expenditures relating to building systems and staffing. Office landlords must spend hundreds of thousands and often millions on new tenant improvements and broker leasing commissions. These costs are paid upfront. If the tenant goes bankrupt on day one of the lease, the landlord cries.
  • Retail properties:These are highly susceptible to recessions, and many are currently being methodically crushed by online retailers.
  • Hotel properties:These come with high fixed expenses — and you can’t fire the staff if occupancy is low one night.
  • Industrial properties:Though industrial properties tend to have the lowest ongoing capital needs next to mobile home parks, tenant concentration can be an issue. If your largest tenant defaults, you’re in trouble.

In contrast, mobile home parks are virtually recession-resistant, with low fixed costs and minimal capital needs. They have lower turnover rates, don’t require much staffing and have highly diversified tenant bases. In other words, they are consistent.

How To Make Your First Mobile Home Park Investment

If you’re a passive investor interested in co-owning parks, there are quality sponsors out there that you can invest with. If you would rather roll up your sleeves and do the work yourself, here are a few suggestions:

  • Don’t start small:Counterintuitively, you don’t want to crawl before you walk in mobile home park investing. Buy a park large enough (~50 spaces) to provide tenant diversity and support an on-site (or nearby) property manager. If you go small, you’ll become the de facto property manager and will need to personally collect rents and enforce the rules.
  • Narrow your search:You’re going to have a hard time competing against larger, more established players on brokered deals. Don’t plan on finding a great deal online. It took me years and a lot of cold calling to develop consistent deal flow. If it’s your first deal, your best strategy is to focus on a couple of markets and deal directly with the owners.
  • Stay away from private utilities: If at all possible, stay far, far away from private utilities. The costs to replace private electrical, gas, water or sewer systems are often six figures and sometimes seven figures depending on the size and type of system. Do you want 100 families calling you in the middle of the night to report a gas leak? Unless you’re very lonely or very bored, probably not.
  • Secure long-term debt:When mobile home parks fail, it’s often because a short-term loan came due and the owner couldn’t refinance.
  • Make sure you have time to oversee the asset: Mobile home parks do not run themselves. You need the right team, software and systems to manage them for you. Or you need to do it all yourself. If you’re looking for mailbox money, look elsewhere.

Conclusion

Consistency can be boring, but it’s critical for long-term investment success. You can’t increase cash flow if you have to keep reinvesting in the property just to keep things afloat. If you can’t grow profits, you’ll be far too dependent on market timing and interest rates to achieve compelling returns.

The mobile home park industry has been reliably profitable due to its structural advantages that keeps mobile home park supply, tenant turnover, ongoing capital and recurring expenses low. This enables investors to compound capital as revenue growth flows to the bottom line and is not diluted by surprise capital expenses. ##

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The above was not part of Johnson’s column.  In fairness to the NCC, they have produced this listing of the top 50 MHC operations, which has some value. But more detailed data on communities is inconsistent and contradictory, as Johnson writing in Forbes, and the graphics below from MHI members, all reflect.  MHI’s data is arguably an embarrassment to the industry, Johnson is not alone in slamming it,  and it clearly needs to be corrected. We alone in MH trade publishing have called MHI to account for this #nettlesome problem. 

TopManufacturedHomeCommunitiesSkylineChampionIRDailyBusinessNewsMHProNews

This graphic from Sun Communities (SUI) uses what appears to be MHVillage/DataComp figures. Insiders there have told MHProNews that they know their count is off (under) by thousands, yet this is the count that MHI has used more recently. One of several problems with a false community count is this –> if the total number of guesstimated sites are anywhere near accurate, then more communities means fewer average sites per community. See the below, all from MHI or MHI members, and the numbers are all over on the community count.

ManufacturedHousingIndustry50000CommunitiesCavcoManufacturedHousingInstituteMHIDailyBusinessNewsManufacturedHousingIndustryFactCheckMHProNews

This claim by CAVCO is arguably dated and in error. Frank Rolfe with RV Horizons argues for 44,000, based upon what he said was a ‘hand count’ done over a two year period of time. Rolfe admits that it may be as high as 45,000, but those would be tiny communities of say 2 or 3 spaces, he said to MHProNews.

ManufacturedHomesMadeInAmericaDataInfographicManufacturedHousingInstituteLogoMHILogoMHProNewsFactCheck

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For our original report, using MHI’s graphic, and citing Rolfe’s, Allen’s and MHI’s data in the text by the arrow. http://www.MHProNews.com/blogs/daily-business-news/manufactured-housing-institute-outgoing-chair-tim-williams-remarks-vs-mhi-ceo-richard-dick-jennison-comments-fact-checks/

 

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All image credits are as shown, and images or third party documents that may be attached are provided under fair use guidelines. 

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Graphic, data, per Sun Communities (SUI).

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Graphic, data, per Sun Communities (SUI).

 

Grab your coffee or energy drink. This is your latest wake up call.

Opportunities knock, but they come dressed in overalls.

Johnson made several valid points in Forbes, but some needed adjusting or were exaggerated, etc. as noted above.  Johnson who is clearly pro-industry, nevertheless had issues in his report.  This article in Forbes is but one of many possible examples of why a report in the mainstream should not be merely forwarded, without a sound commentary and analysis. Otherwise, misinformation mixed with accurate information only spreads.

 

PublishingHandPickedInformationCanBeWorsefortheImpressionItMakesOnManufacturedHomesandOurIndustryThanStatingEntirelyFalseInfo-BradLovinNCMHA

There are internal industry challenges that must be overcome. To better understand the issues, see the related report, below the notices and byline that follow, for more insights and details. “We Provide, You Decide.” © ## (News , analysis, and commentary.)

 

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“It’s a Terrible Idea,” Comments from Manufactured Home Community Owners, Senior Management, and Investors

December 7th, 2018 Comments off


ItsTerribleIdeaCommentsFromManufacturedHomeCommunityOwnersSeniormanagementProducersInvestorsDailyBusinessNewsMHProNews
Skimmer alert: the subject isn’t a video per se.  But we open this Daily Business News on MHProNews with a comment about a new video because it shines a light on broader issues that have drawn comments – also shared below – from a variety of industry personalities.  Many are from the manufactured home community sector.  But other voices from retail and production have weighed in too, as you will see.

 

A company president with interests in communities that has also done retail wrote a long missive that began as follows. “My first reaction when I saw the opening frames [of the Manufactured Housing Institute self-promotional video] was WTF?????  OBVIOUS to me at least that this was made for folks who DON’T know the real details behind the [manufactured housing industry’s current condition] story.  In a depressed industry, with competition slowly being choked out of existence, they [MHI] come out like we’re back in 1999!  What a joke.”

 

Terrible Idea

It’s a terrible idea,” said another large community owner during a 75-minute phone call to MHProNews,to have communities lumped in” with producers, retail, and other industry segments at the Manufactured Housing Institute (MHI). That pro said he hasn’t seen the MHI video, and said he could care less.

Why?

What has MHI done to alleviate any of the concerns” for communities, was the response.  Examples given by the caller included costly installations being mandated by HUD was part of that community owners comment.

He’s far from alone.

The Government Sponsored Enterprises (GSEs) of Fannie Mae and Freddie Mac and financing issues have sparked several responses from operations of varied sizes, from coast-to-coast.

MHI pays lip service to communities. Sure, they have their community focused events. But in terms of policies, what has MHI actually done? It’s still a retail and production-oriented organization.”

The dues paid by communities [to MHI] are not that bad,” said one. “But there’s no performance [by MHI] either. I’m waiting to see who will step up and do something that will be helpful for communities.”

MHI provides “a lot of sizzle, but the steak’s still kinda tough. We as an industry are still WAY below where all rationale says we should be, IF ONLY NORMAL MARKET FORCES WERE AT WORK HERE.  I have long felt that to NOT be the case, as you [MHProNews] are also verifying through your investigative reporting.”

Put differently, one of the hot-topics include a growing sense of manufactured home market manipulation and monopolistic practices.  There are many who believe that the industry should be performing far better, but that manipulation of the market has kept the industry at far below it’s capability.

 

 

A Wink and a Nod?

I have no doubt that deals are made [at MHI] with a wink and a nod” that benefits some operations at the expense of others stated a partner in a community operation.

Nathan Smith was a name that drew repeated fire. “What a likable guy, who sadly is working every ——ing day to get politicians elected who harm everything independent business people in our industry stand for and need [in order] to be successful.” Without saying so, it is likely a reaction to the report found by clicking on the hot-linked box below.

 

Nathan & Mary Lee Chance Smith, Leaders in ‘Anti-Trump Resistance,’ Manufactured Housing Impact?

 

I just want an organization that helps keep Big Brother off my back,” explained one, commenting about MHI. “We have modest working-class [MH] communities. There are no clubhouses. Having to put in high-cost pads only increases the costs to consumers. MHI’s promos only shows photos or video of freshly black topped streets, that have double wides1, garages, and swimming pools. Hey, that’s great for those few that actually do offer that, but that ignores the reality at over 80 percent of the properties in our industry. It’s like they [MHI] are embarrassed by the reality that millions are happy to have a home that they can call their own, even if it is modest, it’s theirs.”

 

1 – sic terminology error in the original.  More properly,
multi-sectional manufactured homes. Note to Industry
newcomers – percentages shared by reader comments
may or may not be precise, but can be understood
as broadly on point.

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One mentioned a comment by Kevin Clayton, on an occasion when he said that the industry should “…dance with those that brought them to the dance.” Meaning, the industry should not forget the entry level product.  “But this Clayton/MHI new class of homes absolutely ignores the ones that brought manufactured homes to the housing industry dance.  Not providing them with Fannie [Mae] and Freddie [Mac] lending is another case of leaders doing the opposite of what they’ve said. Their program does nothing for community owners, and all of our industry’s existing home owners. It’s outrageous.”

It’s why, one said, so many community people walked out last year from the MHI presentation at their Congress and Expo.  ICYMI, you can learn more about that by clicking on the box in the report linked below.

 

Manufactured Housing Institute “Walk Out,” “Cover Up,” and Shock at their Vegas Event

 

 

What’s Next?

There have been questions and comments about the new national manufactured home community organization.

MHProNews has spotlighted the emerging group, and without endorsing it, has noted that at least NMHCO has condemned MHI’s performance failures for communities, which is a hopeful sign that those organizing community owners not only understand the issues, but have plans to address them.

An industry veteran said the need for MHIdea and the new community organization could not be more pressing, saying in part that while most are figuring out how to do more or better business, “SOME in our industry focus on an entirely different goal every morning:  “What can I do today to make my competition go away?“”

One pro said that whatever MHI or Clayton say they want, automatically sparks skepticism.  She gave an example, citing the fact that MHVillage has launched MH Insider, which has praised Kevin Clayton and MHI makes.  That pro now questions not only that publication, but the parent operation too. “If someone is promoting those con artists,” that person alleged, “after the reports we’ve read [on MHProNews], they are either blind, naïve, or part of their con.”

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Submit confidential or on-the-record news tips, or comments at this linked email mailto:iReportMHNewsTips@mhmsm.com

Whistleblower! Ex-Clayton Homes Team Member on TV Denounces Manufactured Housing Giant’s Practices

 

Are Tech and Emerging Trends Threatening to Undermine MH Communities?

An interesting observation has been about the changes on the horizon in transportation. Out West, where Elon Musk and his Boring Company have been doing tests on the hyperloop, there’s a gnawing concern that in conjunction with other trends, that hyperloop could in time undermine community values in or near metro areas.

Some of us [in the community sector] have thought about or sell properties to big box stores or multifamily housing redevelopers. But as technology like hyperloop develops, it may become ever-more important to be resident satisfaction focused. While today, communities have great stability and lots of exit options, that may not always be the case. If so, that could be [a] good [development] for residents, and the industry, in the long run.

 

ElonMuskHyperloopBoringCompanyManufacturedHousingIndustryDailyBusinessNewsMHproNews

This may have been a reference to one of the reports on MHProNews on that topic, see one example, at this link here.

 

More people work from home than a decade ago,” observed another. “Their [a home owner’s] location doesn’t have to be near downtown, or even in a suburb. Where is there any drive [by MHI] to attract that [home buying] audience?

The fact that MHI used Nathan [Smith] to attack the new communities association in their so-called newsletter is [a] clear reason to believe that they know that there’s unrest among many NCC [National Community Council] members.”

Anyone who has gone to a few Congress and Expos knows that they have very low actual attendance at most of their breakout sessions,” said one. “They have a few keynotes [that get better attendance], but beyond those, most [community professionals] take off and talk business with others or are handling calls and messages.”

 

Regarding MHI/NCC meetings:

> Education could be better and more relevant, as often low attendance at actual sessions underscores.

> Lobbying on behalf of actual needs and concerns of communities is almost none-existent.

> Some argue that MHI is undermining communities, by favoring initiatives that tilt toward clients of what previously was known as Clayton Bank, 21st, Vanderbilt, or other Berkshire Hathaway brands operating in manufactured housing.

Some – as was indicated earlier – used choice, blunt words.

Nathan is a disgrace to our industry,” is one example. “How can he be in a leadership role? I wouldn’t be surprised if he helped that d-mned Richard Cordray in his Ohio campaign for governor [the comment came from several states away, Cordray was prior head to the Obama Administration CFPB]. Nathan’s whole schtick is like a carnival barker, an embarrassment to those of us who try to run an honest business.”

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DefinitonShtickWikipediaDailyBusinessNewsMHProNews

 

I wouldn’t mind supporting more than one association, if a new group actually wanted to do something real. Once they [a new organization] proved themselves, dropping out of MHI would be no problem.”

Other who aren’t in MHI – but may or may not be members of state associations – are hopeful too.

I’ve been told that the mixers and events [for MHI] exist for two main reasons. They want independents [retailers, communities] to come which raises money for MHI, but it also gives the portfolio operations a chance to —ing schmooze us into selling [to them]. That video you guys have of Nathan [Smith] laughing while he says he wants all the communities for himself says it all. You guys [MHProNews] need to use that Monopolistic Housing Institute logo more, because that’s like a meme that captures what they [MHI] are all about.”

 

 

 

Anger Over GSEs and Financing

 

While community owners like the rates and terms they get on refinancing a property with one of the GSEs, when the topic turns to lending on actual manufactured homes, they often get angry.

It’s worse than an insult to promote this Clayton [Homes] backed ‘new class of homes,” said one. “It undermines what the HUD Code stands for and has accomplished. MHI has essentially helped the GSEs avoid supporting 95% of what consumers want to buy, in favor of something that is totally unproven.”

A concerned producer and MHI member indicated that the lower rate offered by the GSEs on that new class of homes is cancelled out by the far higher cost of the product. That same producer soberly said that the majority of producers couldn’t build such a home the way they are configured.

Put differently, that professional was explaining why most of the 130 some plants producing homes in the U.S. are being undermined by this Clayton/MHI initiative, that they purportedly got the GSEs to buy into.

Another MHI only member producer stressed that modular homes already qualified for GSE lending. “This [new class of homes] was just unnecessary.”

There are clearly conflicting interests at MHI, and they always tilt toward what Berkshire Hathaway wants.”

The two most heard or read words?

Thank you,” with an example from one who added, “for giving voice to those of us who’ve been abused by a train of lies and broken promises.”

You [MHProNews] are smart to be mixing in those videos and reports that teach the basics of what made America great,” because “what the reality of what is happening to our country could cost everything we hold dear if we don’t change [the trajectory of] the culture.”

 

Articles on related topics are linked further below. NMHCO has promised a new, formal statement on their latest is in the works. MH Idea is also found further below. Quotes may or may not represent the views of MHProNews. That’s this afternoon’s “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

NOTICE: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two browsers.

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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.

 

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Largest 50 Manufactured Home Community Operations, per Manufactured Housing Institute, Analysis

April 24th, 2018 Comments off

50LargestManufacturedHomeCommunitiesManufacturedHousingInstiutteMHINationalCommunitiesCouncilNCCLogoTriStarEstatesManufacturedHomeIndustryMHProNews

Sun Communities of Southfield, Michigan, took the top spot with 83,294 home sites under management, followed by Equity LifeStyle Properties of Chicago with 73,700 home sites, RHP Properties of Farmington Hills, Michigan, with 60,163 sites, YES! Communities of Denver with 47,278 sites and MHP Funds of Cedaredge, Colorado, with 31,652 sites.” said the Manufactured Housing Institute (MHI) National Communities Council (NCC) release to the Daily Business News.

 

These 50 organizations have a total of more than 693,000 home sites with portfolios ranging in size from more than 80,000 sites to just under 3,000,”said the NCC’s statement.

The prior 2017 list was faulted by MHI/NCC members as double-counting some sites listed by RHP and Brookfield Asset Management, then shown as #3 and #5, respectively.

The NCC serves its members by being an effective advocate before public policy makers, the media and the general public,” is another standard line that has drawn the ire of members, who have told MHProNews that MHI (and by implication, the NCC) is “irrelevant” – ineffective at their own agenda – or fails to defend the industry’s members from flawed media reports.

2018Top50ManufacturedHomeCommunitiesListNotMObileHomeParksNCCNationalCommunitiesCouncilManufacturedHousingInsttitueDailyBusinessNewsMHProNEws

MHP Funds, currently #5, is a tandem of well known partners/investors headlined by Frank Rolfe and Dave Reynolds.  While Rolfe has ‘gone quiet’ on critics of MHI late last year, he has not walked back his stinging criticism of MHI in failing to defend the industry, harming all of those in the business.

 

Bob Crawford, president of award winning Dick Moore Housing, which sold its last community fairly recently, has given MHI a “5 out of 10” – a failing grade – in its lobbying efforts.


Jenny Hodge for NCC

jenny hodge mhi v p ncc

Jenny Hodge photo credit, MHI/NCC.

Jenny Hodge is a talented, well liked and respected member of the MHI team. At one point, she was seen by some as the heir apparent to the “floundering” or worse view held by some regarding their president, Richard “Dick” Jennison.

Jennison has since, say sources, gained the upper hand in the Arlington inner-office struggles.

Hodge’s release said, “With the tens of thousands of communities, we are trying to responsibly identify with this list who the up and coming operators are as we see signs of continued consolidation as the industry evolves into a more mature phase,” said Jenny Hodge, Vice President of Research and Market Analysis for MHI, according to their release.

Hodge added, “We are seeing more interest in manufactured housing from large institutional investors and smaller independent developers as well as individuals who want to live in high-quality affordable housing.”

Each of these statements by Hodge is upon considered examination, accurate.

What her first point obliquely underscore is part of the reason for MHI’s existence, which is to foster consolidation, according to a number of their critics. Thus the spreading nick-name for MHI, “the Monopolistic Housing Institute,” which the “I want them all for myself” statement by Nathan Smith nurtured.  Smith is the former MHI Chairman, a prominent Democratic operative, a NCC member, and a partner in SSK Communities.

 

 

MHProNews & MHI – Who is Telling it Like It Is?

It is natural to believe that your side, whichever side that may be, is the ‘right side.’

That said, it is important to note that MHProNews’ publisher has for over a year offered to publicly meet and debate the issues, concerns, and topics raised by MHProNews and/or MHLivingNews.  MHI has ducked, dodged, detracted and declined to accept the invite.

One must ask, why?

AcceptingTheProblemDailyBusinessNewsMoreCommunityClosuresThanOpeningsDailyBusinessNewsMHProNews_001

The MHI statistics are a mix of accurate and inaccurate. This year’s list appears to be clean and controversy free. The same can’t be said about the statistics that claim there are some 38,000 communities.  Their own members dispute that number, and that goes to the heart of what’s wrong with MHI, or NCC.

Frank Rolfe, Dave Reynolds, George Allen, Manufactured Home Community Controversy Continues

This isn’t a critique of Jenny Hodge, who is following orders.”  It is a critique of those who are seen as manipulating and “weaponizing” data and messages to their members.

If they had a good come-back, why don’t they present it?

Rather, they dodge those concerns by what a long-time MHI member told MHProNews is “Razzle Dazzle.” While his example was on a different topic, the principle is the same.

“Razzle Dazzle,” Says Former Manufactured Housing Institute Member

There are concerns by some that HUD Secretary Carson might, might by intent or not, give MHI an apparent win, when there is nothing that MHI has arguably done save keep the industry’s growth at lower levels, by failing to accomplish their own claimed agenda. For more details, the related reports will dot i’s and cross t’s that have as of this writing, gone unanswered by MHI, and which their surrogates have used only “razzle dazzle,” hoping to distract people with smoke and mirrors.

It’s a great industry, with numbers of very fine professionals, but some are holding up the industry from within, as Frank Rolfe and others have said.  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

(Third party images are provided under fair use guidelines.)

Related Reports:

Manufactured Housing – Regulatory, Other Roadblocks and Potential Solutions, Up for Growth Research, plus Urban Institute Report Revisited

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Frank Rolfe, Dave Reynolds, George Allen, Manufactured Home Community Controversy Continues

October 31st, 2017 Comments off
tristar-estates-bourbonnais-il-CreditMHC-MD-com, posted MHPorNews.com.

Arial photo credit of TriStar Estate, MHC-MD.com.

First reported here on the Daily Business News, others in the manufactured home publishing arena have since picked up and carried on their own expressed concerns and/or claims about the number of communities there are in manufactured housing industry.

Why Does the Controversy Matter?

Several reasons, which this report/analysis will explore.

First, it clearly matters enough to those writing –  Frank Rolfe, his partner Dave Reynolds and George Allen – to take the time to write it.  They are in the community space themselves, their operations are members of the Manufactured Housing Institute/National Communities Council (MHI/NCC).

Let’s briefly see what they’ve said.

ManufacturedHomeCommunitiesGraphicManufacturedHousingInstituteNationalCommunityCouncilDailyBusinessNewsMHProNews-768x388

Part of our original report, using MHI’s graphic, and citing Rolfe’s, Allen’s and MHI’s data in the text by the arrow. http://www.MHProNews.com/blogs/daily-business-news/manufactured-housing-institute-outgoing-chair-tim-williams-remarks-vs-mhi-ceo-richard-dick-jennison-comments-fact-checks/

George Allen on Community Controversy

George Allen, who’s blog laid out his case, revealed in the graphic below with key phrases from his column, summarizing Col. Allen’s key points.  Paragraphs of comments are on Allen’s site on this issue, so the below are the bullets.  His bottom line is that we can’t know the total, but he clearly felt it worth exploring.

GeorgeAllenCommunityInvestorBlogDailyBusinessNewsMHProNews

Frank Rolfe/Dave Reynolds on Community Count Controversy

DaveReynoldsFrankRolfeRVhorizonsMobileHomeParkStoreMobileHomeUniversityBootCamps-postedDailyBusinessNewsMHProNews

Dave Reynolds (l), Frank Rolfe (r), of Mobile Home University, Mobile Home Park Store, MHP Funds, and RV Horizons.

In an email to MHProNews and others, the partners in “Mobile Home University,” MHP Funds, RV Horizons and other ventures had this key point.

It took two of our employees two years to assemble this list. They started with the phone book. Then they augmented that with visual searches from aerials, discussions with city planning departments, and other unique sources. The end result was the complete list of parks in the U.S.”

Why Community Count Matters, Per Frank Rolfe

In a statement to MHProNews, Rolfe said that this issue relevant to the industry for a variety of good business reasons.  Those included, but may not be limited to:

  • Lenders want sound, accurate data about the industry (to Rolfe’s point, think GSEs/FHFA – lack of data is the reason the GSEs have given),
  • Investors also want sound accurate data about the industry,
  • Media wants useful information too, and Rolfe’s positions on MHI and their general lack of media engagement have been published here previously (example below), and also drew extensive comments at an industry association function, where Rolfe told MHPros – see the videos – some of his thinking on the importance of the industry getting accurate information out about the industry and communities.

 

MHI is Responding to “The Heat,” But Are Doing so Indirectly

After months of pressure from their own members and the industry – not limited to Frank Rolfe, MHARR, or MHProNews – there are at least three cases in recent months of various types of media engagement by MHI, that were not their previously critiqued advertorials.

Two of those three involved communities, and specifically the number of communities and closures.

The Washington Post, and Fredericksburg Free Lance-Star cited MHI’s SVP, as follows per the Star, “”We see these cases [manufactured home community closures] every week,” said Rick Robinson, general counsel of the Manufactured Housing Institute, which has launched a task force to combat what it believes are local government efforts to regulate trailer parks out of existence.”

What else did Robinson say that may not have made that editor’s cut?  We don’t know, because Robinson and MHI won’t say.  Yet, that information would be useful and was supplied to MHProNews for years, until MHI President Richard “Dick” Jennison, per sources, decided to do otherwise.

But that article in the Star was focused on the tear jerking story of community closures, and how they impact – harm citizens.  The Fredericksburg paper citied some problematic figures, which deserve to be corrected.  But once more, without MHI’s cooperation, that is a task made more difficult.

So incorrect information about the industry, and the number of homes, and communities stands.

Here’s one of several problematic points, quoted from the LanceStar:

Mobile homes [sic] are vanishing even as the cost of living in major metropolitan areas creeps steadily upward. In the early 2000s, there were 8 million manufactured homes in the country. Today, there are about 6.3 million, according to census estimates. The disappearances come in clusters.

In Richmond, 24 families were forced out after a 2014 housing code-violation sweep, prompting a federal discrimination lawsuit that resulted in new policies geared toward protecting mobile-home [sic] communities. In Palo Alto, California, nearly 400 mobile home residents are fighting to keep the city from shutting down their park to make way for new condominiums and apartments.”

A recent report on the Daily Business News analyzed a Huffington Post report by Sophie Quinton, which read in part as follows:

IshbelSanchezMapletonMobileHomeParkBoulderCO-PewHuffPo-postedManufacturedHousingIndustryDailyBusinessNewsMHProNews600

Part of the article by Sophie Quentin, published by HuffPo and analyzed by MHProNews, at this link here. http://www.mhpronews.com/blogs/daily-business-news/sophie-quinton-why-some-cities-are-buying-trailer-parks-sic-and-mobile-home-parks-sic-huffpo/

The Manufactured Housing Institute, an industry group, said it doesn’t appear that parks are closing down more often today than in the past. But in many parts of the country, affordable housing advocates say market conditions make it tempting for park owners to sell to a developer.” (Note, Italics added for emphasis.)

Concerns over community closures are what’s fueled DNC Vice Chair and Congressman Keith Ellison (D-MN) to push for new federal law about this issue. See that report, linked here.

Frank Rolfe’s Upcoming New Video Statement…

In a not yet produced video segment for MHProNews, Rolfe says on camera in front of dozens of industry pros words to the effect that many in the media believe that community closures are part of the industry’s business model.

Rolfe has spoken with several mainstream media outlets over the past few years.  If that impression of his is accurate, that is a serious issue to the industry, community owners and investors.

ManufacturedHousingIndustry50000CommunitiesCavcoManufacturedHousingInstituteMHIDailyBusinessNewsManufacturedHousingIndustryFactCheckMHProNews

MHI’s statistical contradictions and inaccuracy – as recently as checked yesterday for this report – could be fueling concerns for serious researchers, for the GSEs, etc.  These contradictory, problematic graphics by and citing MHI, are accurately reflected in this fact-check report.  The hope is to get MHI to correct their factual errors.

ManufacturedHomeCommunitiesGraphicManufacturedHousingInstituteNationalCommunityCouncilDailyBusinessNewsMHProNews-768x388

If in fact Rolfe is correct – and many in media believe that the industry has a common business model of holding land-lease communities only until they are sold off for redevelopment – that in turn fuels comments from the public previously cited by MHProNews.

CritiqueHighlyVisibleEcnouragesIndividu8alsRaiseStandardsDavidDidauQuoteMastheadBlogManufacuredHousingIndustryMHProNews

It’s misguided for anyone to try to spin this or other analysis into anything other than what it is. A fact check.  A search for accuracy, which Rolfe says is good for the industry. Faithful MHI members ought to want to see their association correct their factual errors. Corrected errors benefits everyone.

Variations of a common commented posted by the general public on articles related to manufactured home community closures reads like this, “never buy a home on rented land.”

That kind of concern is reflected by Paul Bradley’s statement to MHProNews quoted below.

PromotingHomeOwnershipMobileHomeParkClosurePaulBradleyROCUSA_postedManufacturedHousingIndustryVoices-MHProNews-

One way to address this is to segment true homeownership land lease communities and differentiate it from traditional ‘parks’ where closure remains a risk, not a certainty but a risk.

Then, we can promote secure homeownership through an image campaign with good fundamentals.  I think it’s our saving grace in public perception and our path to GSE home only financing, too!”

Bradley, it should be noted, enjoys one of the few pilot programs with a Government Sponsored Enterprise (GSE), see that report, linked here.

Factory-Built Home Finance Professional, Titus Dare’s Take

Titus Dare blasted MHI’s advertorials, as he said in his own words, linked here.

But finance professional Dare also laid out his 3 point case for industry advancement, linked here.  His summary read in part, “End the Fear, and the Growth Will Follow,” emphasizing that ““Come on in the water is fine” won’t work when trying to get the FHFA, GSEs or anyone else to come to the manufactured housing table on doing long term chattle-style (home only) mortgage lending.”

As a career banker and a true believer that MH can, and will, solve our housing crisis in America,” Dare told MHProNews in that linked op-ed.

TitusDareEageOneFinancial4SSafeSoundSanitarySustainable-postedIndustryVoicesMHProNews-com-

When he stresses education, it clearly implies education that is fact based and accurate. In Dare’s own words, he stressed what Rolfe did to that live audience in current and upcoming videos.

Calling on MHI to Correct and Maintain an Accurate Record

Based on our own experiences, it would take perhaps an hour or two tops for MHI to correct their reporting of the community count and update their graphics on their website.

Shouldn’t such an update be promptly done?  And shouldn’t it also be accompanied by an explanation/apology, that admits past confusion, but now commits to keeping the record straight moving ahead?

As it currently stands, MHI has documents and graphics that MHProNews and MHLivingNews have spotlighted as factual errors.  It seems possible – even likely, based upon some of the mainstream media accounts noted above and others – that failure to do so is leading to avoidable doubt and skepticism.

Rolfe, Reynolds, MHARR, MHProNews and others have directly and indirectly urged MHI to correct and maintain an accurate repository of information. What possible reason can they give for not doing so promptly?

As Rolfe has noted, investors, lenders, media, and the public are watching.  The GSEs want accurate data.

While accurate information isn’t the only issue that faces the industry, it is one that could be rapidly addressed and resolved. Isn’t it a worthy topic for the MHI/NCC Chicago meeting this week?

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

FiskingFiskDefinitionYourDictionaryManufacturedHousingIndustryDailyBusinessNewsMHProNews

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

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Note: Soheyla Kovach is a co-founder and managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews.com, MHLivingNews.com and manufactured home industry focused business development services.

Jenny Hodge, National Community Council, Public Time-Bomb Deployed on Manufactured Housing Institute, Prominent MHI Lender

May 3rd, 2017 Comments off
JennyHodgesMHINCCTimeBombDeployed

MHI, NCC logos and Jenny Hodge’s original photo, credits are MHI/NCC, and are shown here under fair use guidelines. Collage credits, MHProNews.com.

It’s axiomatic. Today’s news becomes tomorrow’s history. Journalist Alan Barth wrote, “News is only the first rough draft of history.” As confirmation hearings and political campaigns often prove, history can in turn make news. Most have had the experience of saying or writing something yesterday, that proved awkward days, months — or years later.

Thus, Andy Rooney’s advice, “Always keep your words soft and sweet, just in case you have to eat them.”

In another exclusive Flashback report on the Daily Business Reports, what the Manufactured Housing Institute (MHI’s) top staffer for the National Communities Council (NCC) – Jenny Hodge – stated then may come back to haunt the national association she works for, now…

Hodge on Transparency

jenny hodge mhi v p ncc

Jenny Hodge, photo credit, MHI/NCC, and is shown under fair use guidelines.

Our industry is certainly not immune to the forces of market transparency created by the ubiquitous influence of the Internet,” Hodge wrote in 2013, in an article entitled, Evolving the Model for Continued Improvement (see linked copy, below).

Hodge thoughtfully urged strategies mindful of the revelations that the internet created.

The problem?

MHI’s own perceived failures at transparency in communications.  Those alleged failures could be applied to their “weaponized” words – sent or spoken to their own members – and also to the public at large.

Member Frank Rolfe is just one of the more vocal ones who’s blasted MHI’s “hypocrisy,” and failure to communicate – or MHI doing so with transparency.

Eagle One Financial Senior Vice President, Titus Dare is another who said that MHI’s advertorials, are an embarrassing communications tool, one that the National Association of Home Builders (NAHB) would never use.

WeaponizedFakedNewsCostsMHIndustryBillionsManufacturedHousingIndustryDailyBusinessNewsGraphicStockMHProNews

To see the report above, click the image.

Hodge’s Time-Bomb Drops on MHI, MHI Lender

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Tim Williams, 21st Mortgage, current MHI Chairman – credit, LinkedIn.

As more and more loan portfolios are seen (and documented) to perform well, capital will reenter the space.” Hodge correctly pointed out that new capital wants data on loan performance.

MHI tells its members – and those in the world who might listen – that they want to promote chattel lending by the Government Sponsored Enterprises (GSEs, or Enterprises) of Fannie Mae and Freddie Mac.

However, there are numerous reports that MHI’s chairman, Tim Williams of 21st Mortgage, said in a meeting room in San Antonio that his company had not released loan performance data to FHFA/the GSEs.

Furthermore, in the same meeting, Williams said his company was concerned that if the GSE’s entered the manufactured home lending space, they [the GSE’s] may take the better “credit tranches,” leaving them with poorer ones.

Does Hodge’s words about “transparency” – and the need for prospective new lenders to have sound “and documented” data – apply to their positions allegedly expressed by MHI’s chairman and the company he leads?

CreditTranchesdefinedInvestopediapostedDailyBusinessNewsMHProNews

While one can certainly understand the desire of a lender to protect their market share, why does MHI tell their members, the industry at large, and those outside who will listen that they are working to get the Duty to Serve with chattel lending to become a reality, when their chairman has not done what Hodge says a lender – such as the GSE’s – naturally want and need in order to enter the market? Image credit is as shown above.

Tick, Tock, Tick, Tock…BOOM…

Applying Hodge’s time-bomb words implies the following.

The upshot from a lack of transparency, and lack of documented data by the industry’s largest lender would tend to push the GSEs away from doing chattel loans in manufactured home land-lease communities, or elsewhere.

If the rumors and claims reported by sources to MHProNews about the Enterprises doing – maybe – only one or two limited – and multi-year – pilot projects proves accurate, it’s precisely because they lacked the data and transparency the GSEs felt they needed.

That would in turn point back to the industry’s largest lender’s stated unwillingness to provide said data, and statements reportedly made by him with several dozen industry professionals in an MHI meeting in San Antonio, earlier this year.

Why Doesn’t MHI Push for Pam Danner’s Removal at HUD? 

Or Why Does MHI Keep Promoting Preserving Access?

Those questions may also find their candid, if awkward, answers in Hodge’s published article.

Another trend likely to continue is the increasing regulatory burden that has hurt the smaller, independent operators of manufactured home communities and resulted in continued industry consolidation.”

GotClout-questionmark-GetItHere-MHI-ManufacturedHousingInstitute-postedMHProNews-com-

MHI’s networking events – such as this week’s ‘Congress and Expo’ in Las Vegas – are considered by many to be worth-while for business. Beyond networking meetings, how has MHI done at achieving their own stated agenda in Washington, D.C..? When asked to comment or outline their lobbying accomplishments, MHI has been silent. When asked to explain why they complain in writing about HUD, yet are not seeking to change the person – Pam Danner – one or more there allegedly helped put in at HUD, MHI is silent. To a few who’ve heard from MHI leaders on the subject, they’ve told MHProNews that MHI says they’re moving on from the HUD program leadership discussion – meaning, they are okay with keeping Pam Danner.  Do they really want change that will ease regulatory burdens?  Or are they ok with “consolidations,” which Hodge’s column clearly says is the result of such burdensome regulations? 

If that’s true – and she isn’t alone in that belief – doesn’t that potent quote from Hodge expose what MHI is allowing to occur, precisely by not successfully addressing regulatory burdens? 

If MHI appears to be making a ‘good effort,’ but comes up short – the impact on independent communities – or retailers, HUD Code builders, others – is the same.

As Hodge aptly put it, “…increasing regulatory burden that has hurt the smaller, independent operators of manufactured home communities [and other businesses of all types in the industry] and resulted in continued industry consolidation.”

Several MHI members – and even more non-members – believe that the Arlington, VA based association is either mishandling, blowing smoke or fumbling opportunities in their self-promoted lobbying activities, which they style as “Housing Alerts.

Those MHI “alerts” may generate hundreds of emails from industry professionals who sincerely want regulatory relief.

MHI’s top staff cheer-lead around how many emails they generate.  They tout how many are co-sponsoring their Preserving Access bill.

But after years of effort – and millions spent – what positive change have they actually effected?  Where is their claimed “clout?”

If those who believe in conspiracy theories are correct – repeated failures by MHI to achieve promised goals leaves the heavy regulatory burdens intact.

Hodge’s analysis in 2013 stated those regulatory burdens push more industry professionals out-of-the-business.  That would impact thousands of “mom and pop” sized, and other industry companies. Those in turn would often sell to larger operations, which are more able to deal with those regulatory challenges.

The more things change, the more they stay the same,” Hodge said in her opening line.  When applied to how things are done at MHI, has Hodge’s keen statements proven to be true?

Does a close analysis of her article create a new – ironically inconsistent, and contradictory communications tension – in messaging from within MHI itself? ##

(For the full context of Hodge’s comments and the article Evolving the Model for Continued Improvement, please click here.)

(Image credits – when they are from third parties – are provided under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-(Editor’s notes: ICYMI – for RC William’s recent report on latest revelations on MHI’s lending efforts ‘on behalf of the industry,’  (Preserving Access, the PHH Case, etc.) in the nation’s capital, please click here.)

(News, commentary, analysis, and op-eds should not be construed to represent the views of sponsors – or anyone, other than the writer.)

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

 

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See the new, Magnificent May 2017 report – image credit, MHProNews.com/GraphicStock.

Frank Rolfes, knowing how to find Limelight, touts ways to purchase and run ‘mobile home parks’

December 10th, 2014 Comments off

manufactured-homes-com=credit-posted-daily-business-news-mhpronewsWhile there are those in the manufactured home community side of the industry that abhor the ‘t-word’ or having their properties called ‘a mobile home park,’ on the other end of the spectrum is Frank Rolfe.

First, give the man and his associates their due. Their total communities would place them around #10 among the larger community owners.

Rolfe finds his way into the news, through stories like the New York Times’ Cold Hard Lessons of Mobile Home U,’ which drew a flurry of commentary, for and against by industry pros. The article sparked a recent comment by Dana Hawkins-Simmons in the National Housing Institute’s (NHI) e-publication, Rooflinesseen here.

In a recent article, Rolfe sounded off in favor of the National Community Council (NCC) recent fall event in Chicago and the NCC’s Vice President, Jenny Hodge. He took that opportunity to ‘dis’ a rival – and unnamed – community owner and consultant, who once appeared routinely at MHI and NCC events, and has since been marginalized by those organizations.

Writing in the Journal of Mfd Housing, under the heading, “The end of B.S. – thank heavens,” Rofle asserts,What was notable at the event was the absence of many self-styled gurus who people used to listen to. They have been discarded as the industry has grown up and the professional owner/operators demand concrete qualifications of their experts.”

The “Mobile Home U” partner says that no one questioned him at the Chicago NCC event about his use of terminology. Indeed, with video footage of MHI’s current chairman using similar terminology, it might make it difficult for some industry members at an event with both present to do so.

Says Rolfe’s, “The industry is poised for a major shift for the good, and childish arguments have been cast aside to make way for more important adult topics and negotiations.” On this point, there is wide agreement.

Indeed, the industry is poised for a major shift, but the debate over the use of the ‘t-word’ or ‘mobile home’ terminology is far from over, as the new interview with Murex Properties and NCC Chairman Steve Adler suggests. In fact, the just-posted article on the “Great American Trailer Park Christmas Musical” points to the heart of the impact of the very challenge that Rolfe claims is no longer an issue, namely image.

Dana Hawkins-Simmons and others such as NextStep CEO Stacey Epperson take an opposing view, believing what you call something matters to the public and thus to the industry.

Indeed, ELS Chairman Sam Zell famously said at last year’s NCC event, “Pencil head, it’s not a trailer park.”

Writing in NuWire, Rolfe outlined options for purchasing and financing a manufactured home community. Such articles are Rolfe’s way of getting and staying in the limelight, in order to attract a steady stream of attendees to “bus tours” of MHCs and “boot camps.” These draw potential investors, those who aren’t chasing the same locations the larger portfolio operators seek.

The Mobile Home U partner’s suggested ways to buy a community include,

  • Seller Financing
  • Bank Loans
  • Conduit
  • Master Lease with Option
  • Assignment

Give Frank Rolfe his due. Their operation grows, he has a swashbuckling style listeners find entertaining. Many of this boot camp graduates have gone on to varying degrees of success. He and his peers market, market, market.

The debate over proper use of terminology will rage on, with one wing showcasing a great image, and the other wing of the industry saying the public calls it a ‘trailer’ and ‘mobile home,’ why shouldn’t we?

But is the photo shown above what people imagine when you say the word “trailer” or “mobile home?”

Perhaps the 1.32 billion dollar sale of image-and-brand-building American Land Lease to Sun Communities might have settled that debate, but at least for now, that hasn’t resonated with enough people on the ‘mobile home’ terminology wing of the industry. ##

joseine-josie-thompson-writer-daily-business-news-mhpronews-com50x50-(Photo Credit: Manufactured Homes)

Article submitted by Josie Thompson to – Daily Business News – MHProNews.