Archive

Posts Tagged ‘kenneth rishel’

The Louisville Show is a Must Attend Event

December 1st, 2010 No comments

Louisville Manufactured Housing Show - January 12-14, 2011The Louisville Show is rich in history and tradition, and for many of us, memories of times gone by. For some, that would be reason enough to attend, because they see the Show as important and worthy of support as an industry statement of who and what we are. This show has chronicled our history and progress from 8′ wide “wobble boxes” to 32′-wide HUD Codes that are structurally superior to most site built housing.

Others need much more to take the time and money to make the trek to Louisville. For them, the Show offers a chance to network with others in the industry and learn things they don’t know that could affect their choices and decisions in their businesses. In the past, much of this has been informal, but now Dennis Hill has stepped it up, and garnered experts to put on seminars and workshops on a variety of subjects vital to those planning on staying in the industry, at no charge to the attendees of the Show. These seminars are reason enough for community owners and retailers to attend.

The seminars are just the beginning, however. The Show is, as it should be, the biggest and best place to gather information about the new homes and products that are available. It is amazing how many retailers and community owners think they know what’s out there, that actually don’t know about products and homes they should be considering. This is the place to discuss why levers on doors, wider doorways and halls, and taller toilets can significantly increase sales when marketed properly. This is the place to learn about selling brand new homes into a community for $32,000.00 and still have a real profit of $5,000 or more.

It is the place to learn about the latest trends in financing from Title I, to low interest loans to A credit borrowers, to the burgeoning new opportunity that owner assisted captive finance presents. It is a place to learn about new trends in set-up and installation, from skirting to lower perimeter enclosures as well as marketing techniques to generate more foot traffic.

The Show also offers the opportunity to catch up with old friends and meet new ones. It also creates a venue to relax after hours with others who appreciate Roger Miller’s “King of the Road” at places like Howl at the Moon, or for industry rich conversation over dinner at the Brown Hotel. What more in the way of reasons does one need to be there?

##

Ken Rishel of Rishel Consulting Group and Precision Capital Funding is the industry-acknowledged expert on owner assisted chattel financing. In addition, he was a highly successful community retailer and community owner, as well as working with an outside lender during their growth to a national force in manufactured housing. He has been on the Board of Directors of two state associations, was appointed by the Governor to serve as the first chairman of the State of Illinois Manufactured Housing Quality Assurance Board, and is a nationally recognized and sought speaker within the manufactured housing industry. He serves on the MHI Task Force on Dodd-Frank, and his company was the MHI winner of the 2010 Service Supplier of the Year Award. He is also the author of the Chattel Finance Newsletter, which has over 9,000 subscribers.

Information on the Louisville Manufactured Housing Show is available here.

It is Time to Stand Up and Be Counted

July 20th, 2010 No comments

By Ken Rishel

Anyone familiar with the Captive Finance Newsletter knows I have very little faith in any government backed chattel finance program coming to fruition or, if it does, being the answer to the manufactured housing industry’s prayers. If it happens, it will only double the current sales volume and that is not enough. However, it is worth some effort to try to make it happen because doubling industry sales is an important thing, even if it isn’t the whole answer. While I still believe that owner assisted financing is the real answer, I am asking you to join me in a last ditch effort to help MHI in their efforts to make this thing work.

For those of you who don’t know, MHI made a plea last week at their Summer Meeting in Washington DC for industry members to email the government and their Congressmen and Senators asking FHFA to not ignore their duty to serve. Greg O’ Berry of Hometown America went even farther and suggested both at the MHI meeting and in this ezine that community owners and operators ask their residents to also email everyone explaining that the value of their investments in their homes would be adversely affected if government backed chattel financing did not come to fruition.

Because I am skeptical about this program ever emerging and because I am so focused on more complete solutions, I have not lifted a finger to help. I have however, come to realize that is the wrong attitude. Nothing is ever won by people finding fault, or not trying to make something work, and I now do not want to feel as if I did nothing when something could make a difference. This manufactured housing industry is something special, and all of us owe it more than we can ever repay. We just need to realize it, and pay up in some measure. I know that, because that is what has kept me running 16 hours a day while being called a fear merchant for the last several years, when I could have been on a beach in Hawaii watching my wife learn the Hula. I know it, but I didn’t act on it when it came to this issue. I am ashamed of my lack of action. To those of you who have already gotten involved, I apologize for my lack of action.

Perhaps it was Greg’s impassioned plea, but it struck me that all of us in this industry, no matter how cynical, could at least stand up and be counted on this issue. As a result, I am emailing everyone that makes sense tonight ( FHFA, Congressmen, and Senators) after I finish this article to you. My question is, “What are you going to do”? Will you make the same effort after reading this? Will you reach out to others and persuade them to do the same? If you are a community owner, operator, or manager, will you follow Greg’s lead and ask your residents to do the same? Will you stand up and be counted?

Ken Rishel of Precision Capital Funding is a leading expert in chattel financing of manufactured homes and in starting and running owner assisted finance operations. His organization was named MHI’s Service Supplier of the Year for 2010, and he authors and publishes the Chattel Finance Newsletter which goes out to over 9,000 people on a monthly basis.