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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.

 

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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

ManufacturedHomeCommunitiesGraphicManufacturedHousingInstituteNationalCommunityCouncilDailyBusinessNewsMHProNews-768x388

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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Manufactured Housing National Research Report, Marcus & Millichap Manufactured Home Industry Performance Data

May 2nd, 2018 Comments off

MarcusMillichapManufacturedHousingNationalResearchReport

Potential for Higher Returns Lures New Buyers, Generating Competition; Supply of For-Sale Listings Remains Tight, Boosting Prices,”
Marcus & Millichap (M&M) National Report, First Half of 2018

 

A new research report has been provided by brokerage firm Marcus & Millichap to the Daily Business News.

For those in MHVille who don’t know Marcus & Millichap Inc (MMI), the following description is from their website.

NationalManufacturedHousingRegionsSubregionsMapMMIManufacrturedHomeCommunityIndustryDailyBusinessNewsMHProNews

Powered by Culture: George M. Marcus and William A. Millichap revolutionized the real estate brokerage industry. Marcus & Millichap was designed to go far beyond simply facilitating real estate transactions. It was developed as an entire system dedicated to maximizing value for real estate investors.”

As part of our ongoing periodic series on the true state of the manufactured housing industry, the following summary provided to MHProNews by MMI.  How good are they?  Here’s what a market snapshot tells you investors think of MMI.  Money talks.

MarcusMillichap(MMI)GoogleTickerManufacturedHousingIndustryDailyBusinessNewsMHProNews600

 

Investment Highlights

Buyers are flush with capital amid a scarce supply of available listings throughout most areas of the nation, which has resulted in more off-market transactions. Heightened demand is producing aggressive pricing that keeps cap rates steady despite the rise in interest rates.

In some areas of the country, for-sale listings are further reduced by resident groups in manufactured home communities exercising their right of first refusal and making offers to purchase the park.

PopulationShift65PlusMMIManufacturedHousingINdustryDailyBusinessNewsMHProNews

Exchange buyers remain active. Many of these investors are trading out of other commercial real estate product types, such as apartments, and are unfamiliar with owning a manufactured home community. In many instances the potential for higher returns is luring them to consider park ownership and they are willing to pay a premium to own, helping to drive prices higher.

Communities on well and septic are still slower to trade. Some buyers are searching for a value-add opportunity in parks that have the potential to be hooked up to these city services.”

MarcusMillichapListingsClosedPropertiesManufactuedHomeCommunitiesMHousingIndustryDailyBusinessNewsMHProNews

The MMI research and data reflects the growing demand for manufactured home communities that industry professionals have been reporting for several years, as was noted in last night’s snapshot report on RHP Properties.

Manufactured Home Communities Giant RHP Propertie$ Deal, plus Manufactured Housing Industry Connected Stocks, Market, Data Updates

 

East Region Mid-Atlantic Trends Vacancy:

Strong demand for affordable housing produced a 70-basis-point reduction in vacancy to an average of 6.6 percent during 2017. Vacancy was especially tight in Baltimore at 2.5 percent. Rents: The average rent rose 3.8 percent in 2017 to $381 per month, bolstered by a 5.1 percent surge in Baltimore. Rents have climbed 14 percent over the last five years.”

ManufacturedHomeCommunityPriceAppreciationTrendsMMIManufacuredHomeIndustryProfessionalDailyBusinessNewsMHproNews

The above gives you the flavor of the document, which is a free download.

MetroPerformanceMMIManufacturedHousingIndustryDaiilyBusinessNewsMHProNews

You can sign up for their full national report at this link, here.

 

The Takeaways? 

The facts speak for themselves.  But there are many takeaways, including that manufactured home communities – and the industry at large – could be doing significantly better than they already are.

But we’ll drill that down in an upcoming summary report on manufactured home communities, that should be ready by next week. Investors, industry professionals and advocates, stay tuned.  Newcomer?  Sign up for our industry leading emailed update headline news, below. ## (News, analysis and commentary.)

 

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Affordable Housing Focus Group – Comparing Housing Options – Conventional Houses, Condo, Rentals, and Manufactured Homes – Up for Growth, National Association of Realtor, Studies

 

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RVHorizon/MHP Funds Investing/Mobile Home Univ Communities Leader, Frank Rolfe’s Hidden Gem

April 30th, 2018 Comments off

Before diving into RVHorizon’s/MHP Funds leader Frank Rolfe’s hidden gem, an acknowledgement ought to be paid to his partner Dave Reynolds, and others in their rising enterprise. No one person in an operation of that size does it all solo.

 

When we say Rolfe’s “hidden gem,” it’s an insight that’s been hiding in plain sight since the video below was first produced.

This preface is warranted. It’s difficult to solve any problem(s) or challenge(s) that are not fully understood. Is that self-evident?

For example, even if a doctor has a guess as to a patient’s condition, a good MD does tests before proposing a diagnosis.  Only after tests does the physician suggest possible treatments. Treatments ideally are evidence and fact-based. “Clinical.” That’s the scientific way, and it fits business too.

Thus, the same should be true for Manufactured Home (MH) professionals and investors facing an obvious but often overlooked or ignored challenge.

Frank Rolfe says several things in less than a minute in this video. We’ll focus on only one. It’s this. Most people have little or no clue as to what manufactured housing truly is.  Because so many in the news media doesn’t get it about MH, neither does the public.

In front of dozens of pros, Darren Krolewski of MHVillage made a very similar statement in Tunica. Darren said that when talking to the general public, it takes them time to explain what a manufactured home is.

Both described a similar problem.

That’s an important initial step. Namely, understanding a root issue.

But the solution?

Has the solution to this challenge been clearly proposed or articulated? If so, please show me. Because what we often see is a search for things like a higher volume of traffic. Traffic is important. But the reality is that often, the traffic level is fine; what’s needed is a better method of converting the existing traffic you already have into more positive action-steps by possible buyers.

 

Modern Housing Options

The vast majority of adults in America know what an apartment, duplex, townhouse, rental, condo, or single family house is. People know what a tiny house is. Many if not most understand RVs.

By contrast, millions may know ‘something’ about manufactured housing. But what they think they know is often inaccurate. Others are ignorant, as Frank and Darren said. We know this from our own years of public engagement experiences.

That lack of knowledge or misunderstandings about manufactured homes (MH) are the opportunity in disguise for MH Industry professionals and investors. Learn the correct systems, apply them properly, and watch sales rapidly rise.

 

Candor and Compelling Facts over Fiction and Emotions

There’s plenty of excuses, self-delusions, and false-beliefs floating around MHVille. That’s not uncommon in America in general today.

But realities like those that Frank and Darren raised ought to be acknowledged. Then, the root cause(s) of those realities must be addressed. Only when that occurs can opportunities and profits be pursued and maximized.

This is one of the most fundamental challenges that individual MH locations must face. Because change occurs at the person and business level.

As the publisher of the industry’s top two trade media, and as a multi-decade professional services provider, we’ve dealt with this at a pragmatic level for years. ManufacturedHomeLivingNews.com is a specific part of the solution.

That’s a foundational start. But there’s more needed to tie that specific foundation to individual businesses and locations.  Those that properly have, see positive results.

James McGee and Chet Murphree say something essential near the end of this video. They’re spot on with their point. What comes before it is useful and interesting, but the punchline – the best – was saved for last in the video montage below.

 

 

How Serious Is the Challenge Frank and Darren Stated?

In our professional visits to communities and retail centers, often similar problems to what Frank and Darren pointed to are spotted. A property or sales center may be okay to wonderful, but still isn’t performing as well as local market conditions suggest they should be.

Among the core problems at the location level? Low conversion ratios of lookers to buyers.

For some years, before we travel, before we’ve charged potential marketing and sales clients a dime, we ask very specific questions.

Among them, will you as a client be open minded about addressing challenges that are found? Will you take constructive advice in a positive way?

We’re not in the hurt feelings business. Like an MD, we as publishers and as business growth service providers strive to deal in evidence-based realities.

Our goal is always to objectively identify the good, as well as what can or must be improved. Most successful locations are doing far more right than wrong. The good stuff remains unchanged. But when there’s a big fall off rate between visits and sales, there’s an obvious disconnect.

Most pros who hire a consultant or business development service provider get the reality that one must do something different, to achieve a different outcome.

That said, there are some who want a magic pill, a solution involving no practice changes. But isn’t that self-contradictory? If there was no change needed, then there would be no challenge.  Nor would there be a wondrous disguised opportunity that to correctly addressed, can yielded positive change. We tell those prospective clients who want magic without a sincere willingness to make any needed changes, thanks but no thanks.

 

The Sheer Size of the Problem Points to Immense Opportunities

Data publicly self-reported from MHVillage is useful in making this point. I’ve know Darren for well over a dozen years. He’s intelligent. Darren and his colleagues have a successful operation. So what follows shouldn’t be taken as a slam or a critique. This is an going to be a fast-based, objective look at their self-stated data.  Because frankly, it’s a common MH Industry issue. I applaud them for stating this in public and in writing.

The problem at retail centers (a.k.a. ‘Dealerships’) and communities is mirrored – not equal to, but suggested by – the MHVillage statistics.  Here are the impressive numbers on their website.  25 million unique visitors in a year, equaled about 80,000 sales.

MHVillage’s own data set says they convert only about 1/3 of 1 percent of shoppers.

You read that correctly, that’s .0032 percent (just a fraction less than a third of one percent) visits to purchases. Furthermore, their average sales price demonstrates – and Darren confirmed – that the vast majority of those purchases are used homes, not new ones.

While industry giant Clayton Homes doesn’t publish their data, anecdotal statements from their team members to the Daily Business News, and some known data suggest their results are similar to MHVillage’s, only they are more new home sales focused.

What do facts like the above mean to a business like yours?

I asked Darren, publicly on stage, and face-to-face afterwards with several standing nearby. He politely admitted, he doesn’t know the answer.

Ok, let’s lend him, and all others a hand. Here’s the logic of it.

  • Millions of people are looking online for housing.
  • Some come in, and shop in person.
  • There’s obviously two big fallouts or disconnects.
  • The first is drop-off is online, the next one is on site.

These bullets point to unsolved challenges, unresolved concerns, that the home shopping public has.  But when the home shopper’s concerns are properly understood and dealt with, they are far more likely to buy.  That’s why the data also points to huge opportunities. When there’s an 8.3 million affordable housing unit shortage in the U.S., that’s a wakeup call for our MH Industry and investors.

Just as consumers approach manufactured housing with some ignorance and skepticism, prospective business clients come to us with a similar, but different mix.  Some doubt they can sustainably grow sales at their business several hundred percent. But its true.  We don’t reveal client data, unless we both mutually agree to do so.  Here is a link to a client interview that freely stated how rapidly they grew.

Once properly begun, clients see the sales totals rising, the logistics of growth is often the greatest challenge. But businesses have to make those initial steps to get started to realize that change is possible, and the logistics can also be navigated, in honest, ethical, sustainable ways.

Real Estate Conversions Compared to MH Conversions

Facts are facts.

I spoke recently with a marketer who does both real estate and manufactured home marketing. He candidly said that they have exactly that same experience. Namely, that far more convert – call or message, come in, and buy – in real estate than for manufactured homes.

Restated, a higher percentage of shoppers pull the trigger in real estate to buy conventional housing, than manufactured home pros routinely experience.

 

Frank Rolfe’s Hidden Gem

Properly acting upon reality is a key part of the secret for increased, sustainable success.

So long as huge swaths of buyers in your market misunderstand or don’t get it about manufactured homes, the conversion ratios will remain low.

The good news is that a professional or investor can deal with this locally.  You don’t have to wait for anything magic to happen in Washington, Omaha, Arlington, or anywhere else.  You can make the difference in your market, by going to the root issues.

We’ll dig into some of the solution for that in today’s episode of the Monday Morning Manufactured Housing Sales Meeting.  That will be posted later this morning just below. ##  (Business development, related news, analysis and commentary.)

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The Apprentice – Proper Understanding, Planning, and Execution – Monday Morning Manufactured Home Marketing and Sales Meeting

As a related thought, the reported reaction in Vegas to the Ducker Worldwide presentations suggests those backing that plan don’t have a solution useful to the majority. See that in the link here.

 

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FactoryBuiltCarsClothingAppliancesElectronicsCellsSmartPhonesHomesItJustFollowsLATonyKovachC2017MHproNewsBy L.A. “Tony” Kovach – Masthead commentary, for MHProNews.com.

Tony is the multiple award-winning managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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“No Other Options” – Frank Rolfe’s Pad, MH “Parks” Tug-of-War, Good, Bad or Meh for Manufactured Home Communities, MH Industry?

February 6th, 2018 Comments off

FrankRolfeHomeSainteGenevieveMONatGeoNationalGeographicMobileHomeParksManufacturedHomeCommunitiesDailyBusinessNewsMHProNews1063Frank Rolfe has become a well-known personality in the manufactured home industry.

He’s been called a genius. Others take issue. For example, sometimes, Rolfe says “mobile homes,” and they are indeed a pre-HUD Code home.  But other times, he says that, and he’s talking about a manufactured home.  On terminology alone, he’s controversial.

 

For some, Rolfe is an industry rock star. Others don’t understand, or don’t want to understand, why he is getting so much media, as well as manufactured housing industry, attention.

 

Particularly since that New York Times article hit, there’s been a wide range of industry reactions, as the article and quote below reflects.

 

Sensationalistic ‘Cold Hard Lessons of Mobile Home U’ New York Times article  by Gary Rivlin draws Manufactured Home Industry Ire, Desire and Fire

FrankRolfeMHIHypocrisyQuote-MHProNews

MHProNews and our sister site has covered those Rolfe-related controversies from a variety of perspectives.

Nat Geo says on their YouTube page about their series, “About Explorer: Explorer, the longest-running documentary series in cable television history, honored with nearly 60 Emmys and hundreds of other awards, continues as a series of major specials on the National Geographic Channel…”

Literally millions of Americans have read about or viewed our industry through the prism of Frank Rolfe words; he and his colleagues operations.

Against that backdrop is the first part of a two-part insights into the ongoing saga of Rolfe, and how he has influenced the public perception of manufactured homes and communities.

 

 

This NatGeo “Explorer video above is vintage Rolfe.

It could be used to inspire investors to take a deeper look into the industry.

It can also be used by resident activist groups, as has the video in the article, linked below.

 

All of it begs the question, what’s been the net impact of Rolfe on the manufactured home industry?  Particularly, the land-lease community sector?

FrankRolfe$2000MobileHomesNatGeoYouTubeDailyBusinessNewsMHProNews

Still from NatGeo video, posted above, on this Daily Business News report.

Or, how has he influenced the industry’s discussion about itself?

Frank Rolfe: Pressured into Silence? Manufactured Housing Industry, and Journalism

Some are strong defenders of Rolfe, saying he turns around problematic properties, and improves them.  He’s doing residents and those communities a valuable service.

 

 

Others believe he’s a lightning-rod, one used by resident activist groups such as MH Action, among others.

 

 

Whichever perspective you, or your circle, holds about Rolfe – what’s clear is the Rolfe has been a media magnet. Part of the landscape of the manufactured home industry, particularly the community sector, is shaped by this prominent Manufactured Housing Institute (MHI), National Communities Council (NCC) member.

FrankRolfeCoOwnerMHPFundsMobleHomeParksOwnerInvestorNatGeoYouTubeDailyBusinessNewsMHProNews575x326

Some members love it, others, not so much, when Rolfe says something factually true like this.  For millions of Americans, there is “no other option” for them to own than by living in a “mobile home park” like one he and his colleagues operate. “We Provide, You Decide.” © ## (News, analysis, fact-checks, and commentary.)

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SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted 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.