Archive

Posts Tagged ‘not mobile home park’

Mexico City, Florida Manufactured Home Community, Drone Photo, Video – 6 Months after Hurricane Michael

April 8th, 2019 Comments off

MexicoCityFLmanufacturedhomecommunityPostHurricaneMichaelDailyBusinessNewsMHpronews

More than 800 houses, condominiums and other dwellings were destroyed in Mexico Beach, nearly half of the town’s residential units, according to a report in the Wall Street Journal. Of the residences still standing, less than 400 have both electricity and running water,” said the Weather Channel about the aftermath of Hurricane Michael.

 

Michael roared ashore as a Category 4 hurricane with winds up to 155 miles per hour on April 10, six months ago this week. The storm killed 49 people and cut a swath of devastation across 12 counties, but none more so than Bay County and Mexico Beach,” per that same source in a report linked here.

A disaster recovery firm made the video posted below, which sums up the stark devastation that occurred in Mexico City from Hurricane Michael.

 

 

On October 10, 2018 Category 4 Hurricane Michael made landfall along Florida’s Golf Coast. The impact was… devastating. Destruction was unprecedented. Recovery will take years. CDR Maguire was prepared. Bay County Alone: 15 Million Cubic Yards of Debris, $400M estimated Public Assistance Funds, 75% of Housing Inventory sustained damage,” said the CDR Maguire Team’s YouTube page.

With that backdrop, check out this still below from drone video this week – one of 8 photos from the Panama City News Herald, at this link here.  The photo posted below shows what appears to be a hard-hit manufactured home community in Mexico City, FL.   While some homes are badly damaged or destroyed, there are clearly newer HUD Code manufactured homes that fared as well or better than many of the conventional and commercial construction in the same area.

That’s why the National Association of Realtor’s Scholastica ‘Gay’ Cororaton said what she did, as quoted below.

CompareMobileHomeTrailersPastManufacturedHomesSaferMoreDurableQuoteScholasticaGayCororationPhotoSmallPercentageDamagedDuringHUrricanesMHProNews

No one at MHProNews has claimed that manufactured homes are tornado or hurricane proof.  What we’ve said repeatedly is that properly installed, they can be as durable as conventional ‘stick built’ housing, sometimes more so. Given the amazing price savings, that’s impressive, isn’t it?

 

MexicoCityFLmanufacturedHomeCommunityPostHurricaneMichaelDailyBusinessNewsMHProNews

 

We’ll plan a report soon for MHLivingNews on this topic. Watch for it, because that will be for the general public. Until then, keep these facts in mind every time you have questions from others.  And don’t forget, we already have several reports on MHLivingNews – including powerful video footage – of manufactured homes that survived tornadoes, hurricanes, windstorms, and more.  There are facts from weather experts found on MHLivingNews, and no where else.

See those links in the related reports, beyond the byline and notices, further below.

There are years of recovery efforts ahead in parts of the Florida panhandle, South Georgia and other areas hit by Hurricane Michael.  Some will likely never return.  Some feel forgotten, per local reports.  But the recovery does plod on.

There has been so many tragedies – like this one in Mexico City, FL – that nevertheless have a potential silver lining for our industry and consumers seeking to recover more quickly or for lower costs. The manufactured home industry doesn’t have to oversell, all that the honest independents and other good professionals in our business must do is tell the truth loud, and proud. No hype is needed. If we do so, the truth well told is an overall good reflection on the honest professionals in our industry.

That’s tonight’s installment of “News through the lens of manufactured homes, and factory built housing.” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: 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 do.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

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:

You can click on the image/text boxes to learn more about that topic.

Weather Expert’s Surprising, Bombshell Statement on Tornado Deaths and Affordable Manufactured Homes

 

The Manufactured Homes, Tornadoes and Windstorms! The Story Not Being Told by Most in the Media: Lives Saved with Proper Installation

Realtor University ® “The Market for Manufactured Homes,” Research by Scholastica Cororaton, Certified Business Economist, Highlights

 

Hurricane Irma Florida Survivor Relates First-Hand Manufactured Home Safety, Durability Experience

“I knew right from the beginning.” When President Trump, First Lady Melania, VP Pence Toured Manufactured Home Community

Is Extreme Weather Declining, Rising? Climate Depot Report, Housing Windstorm Safety Redux

 

 

 

 

 

 

 

 

 

 

 

 

 

Feds Bring Charges Against Manufactured Home Community Owner

October 27th, 2018 Comments off

 

FedsBringFairHousingChargesAgainstManufacturedHomeCommunityOwnerDailyBusinessNewsMHProNews

In a release to the Daily Business News on MHProNews, the Department of Housing and Urban Development (HUD) has notified the industry’s professionals of charges brought under the Fair Housing Act of discrimination against a Tennessee manufactured home community owner.

 

The HUD media release included a copy of the complaint, which redacted the names of two female residents and the name of the community. That legal complaint referred to the location as a 21 site “mobile home park.”

 

Perhaps for that reason, the HUD press release used the term “mobile home park*,” so the  * was added in the release by MHProNews, and a HUD PR spokesperson was advised to look for – and hopefully avoid that – in the future.

 

TerminologyMattersBecausetheTerminologyDescribestheConstructionStandardsHomeBuiltToSteveDukeLMHAaMHLivingNewsMHProNewsBiggerPocketsSunshineHomesRedBayAL

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

 

The charges, which are linked here as a download, contains sexually explicit language and suggestions.

HUD’s full release, including the aforementioned *, is as shown below.

HUDNewsheaderManufacturedHousingIndsutryDailyBusinessNewsMHProNews

HUD CHARGES TENNESSEE LANDLORD WITH SEXUAL HARRASSMENT

 WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today charged Chad David Ables, the owner of a mobile home park* in Lexington, TN, with discrimination for allegedly pressuring two female tenants, a same-sex couple, to perform sexual favors for him instead of paying rent. Read HUD’s Charge.

The Fair Housing Act prohibits sexual harassment of tenants and other forms of housing discrimination based on race, sex, color, national origin, disability, religion and familial status.

“No one should have to submit to unwelcomed sexual advances as a condition for remaining in their home,” said Anna María Farías, HUD’s Assistant Secretary for Fair Housing and Equal Opportunity.  “Today’s charge sends a clear message to all landlords that HUD is committed to taking action against landlords whose behavior violate the Fair Housing Act.”

HUD’s charge alleges that Ables showed the couple sexually explicit pictures and videos of women he identified as tenants, boasted that he had engaged in sexual acts with multiple female tenants, and asked the couple to give him nude photos or videos in exchange for rent.  HUD’s charge further alleges that the owner disconnected the water to the couple’s unit after they rebuffed his advances.

The couple and their children eventually moved out after the owner accused them of paying their rent late and issued them a notice to vacate the property.

“Subjecting female tenants to sexual harassment is illegal, and HUD will continue to enforce the Fair Housing Act against property owners who engage in such misconduct,” said Paul Compton, HUD’s General Counsel. “HUD is steadfastly committed to protecting the right of tenants to be free from sexual or other discriminatory harassment by their landlords.”

HUD’s charge will be heard by a United States Administrative Law Judge unless any party to the charge elects to have the case heard in federal district court. If an administrative law judge finds after a hearing that discrimination has occurred, he may award damages to the complainant for harm caused by discrimination. The judge may also order injunctive relief and other equitable relief, as well as payment of attorney fees. In addition, the judge may impose fines to vindicate the public interest. If the matter is decided in federal court, the judge may also award punitive damages.

In July, HUD and the U.S. Department of Justice (DOJ) released a public service announcement (PSA) to raise awareness of housing-related sexual harassment The goal of this campaign is to make it easier for victims all over the country to find resources and report harassment. Watch the public service announcement (PSA). HUD and DOJ are also providing training materials [shown below] on preventing and addressing harassment in housing to public housing staff, private landlords who accept housing vouchers, and residents of public housing and voucher housing.

Last April, HUD marked the 50th anniversary of the Fair Housing Act, joining local communities, housing advocates, and fair housing organizations across the country in a coordinated campaign to enhance awareness of fair housing rights.

Persons who believe they have experienced discrimination may file a complaint by contacting HUD’s Office of Fair Housing and Equal Opportunity at (800) 669-9777 (voice) or (800) 927-9275 (TTY).

HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.

###


MHProNews for several years carried articles by the Fair Housing Lady, Nadeen Green, JD, which provided tips and training on avoiding the sorts of things that can result in fair housing complaints.  Green retired over a year ago, which ended that series.

An article on fair housing/sexual harassment related issues is linked further below, which includes a video on what not to do.  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

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:

Sexual Harassment in Housing – HUD and DOJ Campaign PSA Launched

Sexual Harassment-Not Just Hollywood, Media, Politicos-Manufactured Housing Workplace Claims, High Profile MH Cases Too?

Manufactured Housing Institute (MHI), Women, #MeToo and Insider Information

 

 

 

 

 

City Orders Manufactured Home Community Closure, Residents Only Have Weeks

September 27th, 2018 Comments off

 

NorthernHousingCommunityNotMobileHomeParkSchofieldWILoopnetWausauDailyBusinessNewsMHProNews

It’s a place that the residents of dozens of mobile and manufactured housing dwellers have called their home for years. At least one resident says they have been there for over 5 decades.

 

Residents of troubled Northern Housing Community at 281 Grand Ave. in Schofield, near Wausau, WI have been given until October 19th, 2018 to vacate the manufactured home community.

While it’s a local issue, it’s part of a broader issue that community owners on various parts of the country have said has been, and continues to impact manufactured home community owners/operators. See prior report on the Daily Business News on MHProNews at the link below.

NorthernHousingCommunityAKA-NorthernMobileHomePark281GrandAveSchofiledWIDailyBusinessNewsMHProNews

Lois Ruether has lived at the community for nearly 56 years, says the Wausau Daily Herald, expressed frustration that city leaders’ held a discussion that occurred “behind closed doors.”  Ruether said residents who attended Tuesday’s meeting weren’t able to ask questions.

Local officials said they cited the community owner over a year ago for numerous violations, and that they were not fully by addressed by their deadline.

Shane VanderWaal, an attorney for the city of Schofield said they will commence legal action on or after Nov. 5 if the land-lease community doesn’t meet the closure deadline.

They’re operating a business without a license,” VanderWaal reportedly said. “They need to stop operating that business. That entails obviously no more residents.”

Ruether said she and her husband have found another possible place to move, but told local media, “Where do you get the money to move?”

The USA Today owned publication used improper terminology words like “trailer,” and mobile home park,” during the course of their report.

LoopNet reports the property as “off-market,” but for sale for an undisclosed price.  The featured image at the top was from LoopNet’s site. Their listing ID number is 9091301 and the date it was created was 9.8.2017.  It’s a factoid that local media has not reported.  There’s several ways to consider that detail, but it is one that begs for consideration.

NorthernHousingCommunity281GrandAveSchofiledWIDailyBusinessNewsMHPronews

See the related reports further below, noting the prior Closure by Collusion?” The attorney for the property has not commented, since the statement above. See Daily Business News report linked below. “We Provide, You Decide.” © ## (News, analysis, and commentary.)

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

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:

Reprieve in Community Closure Collision, Another Round Ahead?

 

“Unconstitutional Taking,” “Gentrification on Trial” in Recent Oak Hill Manufactured Home Community Ruling

 

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

Appeal in Manufactured Home Community Closure Case Denied

September 17th, 2018 Comments off

AppealManufacturedHomeCommunityClosureCaseDenieWausauSchofieldWIDailyBUsinessNEwsMHProNEws

An attorney representing the City of Schofield, Wisconsin says an appeal to keep the Northern Housing Community open, has been denied, WSAW tells the Daily Business News on MHProNews.

 

Residents and the owners of the community have both opposed the closure.

Last April, the Schofield City Council revoked the license for Northern Housing Community, citing several safety violations. As part of that decision, residents were asked to be out of the community by August 1st, 2018.

In July, the owners of the park filed appealed the City’s decision to Circuit Court. As part of the appeal, the ruling that residents had to be out by August 1st was delayed.

The City of Schofield’s attorney, Lee Turonie, said they filed a Motion to Dismiss the property owner’s appeal, which was granted. Turonie argues that means the ruling that residents need to be out of the community – that’s located on a high-traffic road – can now be enforced again.

NorthernHousingCommunityAKA-NorthernMobileHomePark281GrandAveSchofiledWIDailyBusinessNewsMHProNews

However, Turonie admits the community can appeal the Circuit Court decision to a higher court, if they choose.

NorthernHousingCommunity281GrandAveSchofieldWausauWisconsinManufacrturedHomeCommunityIndustryDailyBusinessNewsMHProNews600
Mark Hazelbacker, an attorney representing the owners of the Northern Housing Community, says he has not had a chance to speak with his clients about what they plan to do next. He hopes to have that conversation tomorrow, said WSAU.

Hazelbacker says his primary concern is making sure no one becomes homeless as a result of this decision.

Among the issues for the broader industry is the growing pattern of undermining community owners rights to maintain their property, in the face of pressures by others to close.

There have also been cases where manufactured home owners on privately owned land have also been threatened – or in fact, forced – off land based on arbitrary economic or other factors that seemingly target owners of older mobile homes or manufactured homes.

MHProNews will continue to monitor this case, and if there is an appeal, will report that type of update. “We Provide, You Decide.” ©. ##  (News, analysis, and commentary.)

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

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

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:

Lawsuit Filed Against City to Defend Manufactured Home Owners Rights, led by Equal Justice Non-Profit

 

“Undesirable” – Community Owner Sues City for Fraud

Manufactured Home Communities, Retailers, Developers Face Disruptive, Troubling Trend

 

SECO Woes – Southeast Community Owners Symposium – Tom Lackey, Industry Pros, & MH Consumer Legal Clouds

 

Manufactured Home Community Owners Lost Troubling Creekside Appeals Case

 

Arsons in Manufactured Home Community, Fear, Spark Investigations

July 16th, 2018 Comments off
ArsonsManufacturedHomeCommunityCherryLaneEstatesSomersetPADailyBusinessINewsMHProNews

Collage by MHProNews. The visual evidence suggest some of the homes involved may be pre-HUD Code mobile homes, not a true manufactured homes.

State police and Somerset Borough officials are investigating the 11th arson since May in a Pennsylvania manufactured home community. 

 

The latest fire was in a vacant home on Sunday, at Cherry Lane Estates, per the Tribune-Review.

Police Chief Randy Cox said the blaze was “definitely arson,” per the Tribune Democrat. It’s the 13th blaze that appears to be arson in the community since 2016.  Somerset Fire Chief Michael Livengood has provided briefings to the local media about the string of allegedly connected arson-related fires.

CherryLaneEstatesManufacturedHomeCommunityNotMObileHomeParkSomersetPADailyBusinessNewsMHProNews

Alerted by the community’s manager, a couple of residents – Ashley and Mike Wheatley – began to look for a person who appeared to be acting suspiciously. “You guys up? Look out the window,” the text from the manager read, said Mike Wheatley. 

My wife and I came out and started looking down between [the homes],” Wheatley said. “As we were down there, I could see the back window had an orange glow. I said, ‘It’s already burning. Call someone.” 

The Wheatleys have lived at Cherry Lane Estates for roughly a year. They don’t plan to move, but are taking extra precautions. 

Neighbors at Cherry Lane Estates have formed an ad hoc neighborhood watch in response to the arsons. 

CherryLaneEstatesManufacturedHomeCommunityArsonsNotMobileHomeParkDailyBusinessNewsMHproNews

Still from video below. The video was done prior to the 11th arson in the community since May, 2018.

I just wish somebody’d get caught already,” neighbor Jody Whipkey said. “We thought it was over and done with. Now we’ve got to worry about sleeping, got to be up all night,” Whipkey said. “I work. I work at 4:30 in the morning, you know, and it’s just, it’s hard.” 

Whipkey live across the street from Saturday’s fire. She said some are looking to move. 

We’re looking for a place. Everybody in here’s looking for a place to go, trying to find somewhere else to go because we’re afraid,” Whipkey said.

The reports have drawn a significant amount of local media, much of it using the common, but errant, terminology of “trailers” and “mobile home park.”  Its all part of the “other image campaign,” spoken of by MH industry professionals Marty Lavin, and others.

Pennsylvania Crime Stoppers is offering a reward for any information that leads to an arrest in the case.

Their number is 1-800 -4-PA-TIPS. All callers can remain anonymous. “We Provide, You Decide.”  © ## (News, analysis and commentary.)

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

Related Reports:

Friday the 13th, Mobile Homes, Fires, Tornado Magnets and the 2020 U.S. Census

 

Keeping the Home Fires from Burning: Fire Safety and the Modern Manufactured Home

Proper Definitions, Mobile Home, Manufactured Home, or Trailer House – Civil Rights, Respect, Public Policy, & Value Issues

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.EmailedMHProNewsHeadlineNewsDailyBusinessNews
2) To provide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Resources

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.

Northwestern Mutual’s Big Buy into Manufactured Housing 

August 10th, 2017 Comments off

NorthwesternMutualBuysinManufacturedHomeCommunityIndustryDailyBusinessNewsMHProNewsFinancing provided by large insurance companies is nothing new to the manufactured home community sector.

Direct ownership of a property by an insurance firm – as has just occurred in the purchase by Northwestern Mutual Life Insurance Company – that’s an evolutionary development the industry is waking up to.

The deal?

Per the Sarasota Herald Tribune, it was for some $80 million dollars for the purchase of The Gardens of Parrish by an affiliate of Northwestern Mutual, according to a recently filed deed.

CollageGardensofParrishManufacturedHomeCommunityParishManateeCountyFLGoogleMapDailyBusinessNewsMHProNews

Photo credits, the Gardens of Parrish.

The Gardens of Parish is a sprawling 645 home sites on 132 acres, located at 11300 N. U.S. 301 in Manatee County, Florida.

We met with the new owners and new management, and everything seems it is going to be in the future as it is now,” said Beni Barrett, president of The Gardens Homeowners Association.

TheGardensofParrishManufacturedHomeCommunityParishManateeCountyFLGoogleMapDailyBusinessNewsMHProNews

The homeowners association did not make an attempt to purchase, as is allowed under Florida law.

GeraWhiteForSale2014TheGardensofParrishManateeCoFloridaDailyBusinessNewsMHProNews

Photo credit, Gera White, 2014.

steve-adler-ceo-president-murex-properties-manufactured-home-communities-senior-communities-daily-business-news-mhpronews-com-

Steve Adler, Murex Properties.

Steve Adler led Murex Properties has been contracted by Northwestern Mutual to operate the community.  Adler has served as the chairman for the National Communities Council (NCC), and is active in the Florida Manufactured Housing Association.

Northwestern Mutual Milwaukee-based company reports $250.4 billion  in assets, $28.2 billion  in revenues and $1.6 trillion  worth of life insurance protection in force, per the Herald Tribune.

GardensofParrishManufacturedHomeCommunityParishManateeCountyFLGoogleMapDailyBusinessNewsMHProNews

Just as the Daily Business News has reported that –

the move by Northwestern Mutual is part of a trend which could be followed by tech giants such as Google and Facebook. ## (News, analysis.)

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

LATonyKovachMHProNews-com-

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

By L. A. ‘Tony” Kovach to the Daily Business News for MHProNews.com.

Barron’s – Will Freestone Capital Become Next Public Manufactured Home Community Operator?

July 25th, 2017 Comments off

FreestoneCapitalManagementBarronsManufactruiedHomeIndustryCommunitiesParksDailyBusinessNewssMHProNewsFreestone Capital Management, an investing firm based in Seattle, WA, has spent the last decade working their way into becoming one of the larger owners of manufactured home communities in the United States.

Now they are setting their sights on becoming even bigger.  And perhaps, going public.

It all started just after the 2008-09 financial crisis, when Freestone’s founder Gary Furukawa purchased three manufactured home communities.

After operating them for a few years the value of his investment was clear.

The case study by Freestone Capital Management found that benefits of owning manufactured home communities include the increasing demand for low-income housing, and relatively low capital expense, among other factors.

Per their website, Freestone is known for diversified endowment-type portfolios – and they work with both wealth management and investing management for their 950 clients.

ManufacturedHomeCommunityGraphicCreditFinancialServicesPerspectivesBradley-PostedMHProNews-

Manufactured Home Land-Lease Community is shown for illustration purposes only. Graphic credits, Financial Services Perspective, Bradley.

Investing in the manufactured home community sector on behalf of those clients made sense to them – and they’re preparing to continue to reap the benefits of this growing and much-needed industry.

According to Barrons, the firm has already invested $300 million in manufactured housing – specifically in communities that have around a 70 percent occupancy.

Right now, the report says that those investments are generating about a 7 percent yield.  But as occupancy grows – their obvious goal – the return on those investments should rise even more over time.

Our business case is to take [occupancy] to 95%, so the yield goes up a lot,” says Erik Morgan, senior advisor of the firm. “And we’re large enough to maybe take that private investment and make it public.”

ErikMorganSeniorPartnerInvestmentManagementFreeStoneCapitalDailyBusinessNewsManufacturedHomeLandLeaseCommunityResearchReportsMHProNewsWhile many investors are looking to move into the digital age, focusing their investments into stocks like Amazon and Microsoft, Freestone is looking into a more long-term venture that they expect to see yielding them and their investors big returns in the future.

Our focus is typically on trying to find great businesses trading at attractive prices and owning those businesses for a long time,” Morgan says.

Morgan, who was named Barron’s Best Advisor in Washington, started off his career investing in those same sorts of stocks like Amazon – which ended up being a good investment in the long-haul – but he decided that wasn’t the direction in which he wanted to see his career go.

These days, working with Gary Furukawa and 29 other investors at Freestone, Morgan says they are looking to invest in cheap stocks, rather than the hot stocks that pose a higher risk to them and their clients.

Amazon remains a strong long-term opportunity, especially given the signals from their recent bid for acquisition of Whole Foods Market.

But Morgan believes that more traditional investments, like real estate – specifically the manufactured home community sector – are and should be their current focus.

GaryFurukawaSeniorPartnerFreestoneCapitalManagementDailyBusinessNewsManufacturedHomeCommunityInvestorsResearchReportsDataMHProNews

With $300 million already invested in manufactured home land-lease communities, Gary Furukawa, Erik Morgan, and their 29 associates believe they are in the right market.

Affordable housing is something that will always be in demand. Manufactured homes appeal to more than just low-income workers, as even millionaires and celebrities own manufactured homes.

It’s clear they’re confident in their investment in manufactured home communities – and why wouldn’t they be? # # (News, analysis.)

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

JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz to Daily Business News for MHProNews.

 

 

 

 

 

Association Uses Scholarships to Boost Industry Image While Giving Back

July 12th, 2017 Comments off

SharingMHIndustryGoodNewsManufacturedHousingIndsutryResearchReportsWhen much of the news that hits the media about manufactured housing seems from the industry perspective to be biased or negative, it is refreshing when good news about the industry hits the ‘news wires.’

In February, MHProNews brought you information straight from First State Manufactured Housing Association (FSMHA) in Delaware about their $1,000 scholarship.

Their scholarship program has been one ways they like to “give back” to the community since 1999.

Since that year, FSMHA has awarded a total of $43,000 to 41 students, helping them pay for college tuition and expenses.

Unlike many scholarships, the Delaware manufactured housing association’s does not only look at things like GPA, essays and financial need.

FSMHAScholarshipQualifications

Credit, FSMHA.

The most important requirement on the FSMHA application is that the recipient be a resident of Delaware, and that they have lived in a manufactured home for at least a year before submitting for the scholarship.

They encourage more than just high-school seniors to apply. They cheer current college students and adults of all ages with a high school diploma to go or return to college, so they may apply as well. It can be used for any 2-year or 4-year degrees at an accredited university, college or technical school.

Applicants may reapply for the scholarship each year – as evident by the fact that one of this year’s recipients was also awarded the First State MHA scholarship in 2016.

And the Winners Are…

See last year’s scholarship winners here.

2017FirstStateMHAScholarshipWinnersDailyBusinessNewsManufacturedHomeIndustryProNews

Credit, First State Manufactured Housing Association.

This year the four different students who were awarded the $1,000 scholarship were Brianna Boyd, Brandon Bazemont, Kyle Hammond and second-time recipient Eric Nielsen.

First State Goes Beyond Scholarships

Scholarships are not the only way that FSMHA is contributing to their community.

GivingBackFirstStateManufacturedHousingAssoc

For example, last Christmas season, they were able to donate over $3,000 worth of non-perishable food items collected to food banks in Kent and Sussex counties. They were able to do this mostly through the generosity of the members of the association, which is comprised of all kinds of manufactured home industry professionals including retailers, communities, transporters, lenders, insurance companies and repair services.

Such acts of kindness and are great examples of how this association and the manufactured home communities that make up much of the membership are giving back to their communities.

CrystalPriceKOCOTV5NewsOKC-OK-manufacturedhousingIndustryDailyBusinessNewsMHProNews-575x315

In a time when manufactured homes and their residents are still subject by accounts – such as the one reported at this link yesterday – to the stigma of the “trailer-houses [sic] and “mobile homes” [sic] of the past, such positive efforts like FSMHA are to be celebrated. ## (News, Analysis)

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

JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz to the Daily Business News for MHProNews.com.

Another New Manufactured Home Community Plan Advances

June 24th, 2015 Comments off

Bloomington,_IL_city_hall-wikicommons-posted-dailybusinessnews-mhpronews-BLOOMINGTON — There is an emerging trend in various parts of the nation, where new manufactured home communities are being authorized by zoning officials and are being built. One of these examples is in Bloomington, IL, where the Pantagram’s  Maria Nagle tells MHProNews that a site plan for a new manufactured home community near G.J. Mecherle Memorial Park in the south part of town will be considered by their city council next month.

In a 5-3 vote Wednesday, Nagle says that “the Bloomington Planning Commission recommended the council approve the plan submitted by PMO Properties Manufactured Mobile Home Park east of Greyhound Drive and south of East Hamilton Road.”

MHProNews has reported such new developments in other parts of the U.S., including Texas, Pennsylvania and Tennessee. There are also expansions of existing communities underway literally from coast to coast.

The 8-acre site in Bloomington was previously Southgate Estates, an MH Community which was in foreclosure in 2011, and split into parcels sold to two separate buyers.  An engineering study on impact of the drainage system on storm sewers are among the hurdles still to be navigated.

The need for affordable housing is driving the trend in various markets, which is also causing investors in existing communities to flock to the MH land-lease sector in greater numbers. ##

(Note to Investors/Developers: see evolutionary story of trailers to mobile homes to manufactured homes at this link here.)

 

(Photo credit: WikiCommons)