by Nadeen Green, JD
…do you solemnly swear that you have been a good dog, and that you have not attacked or bitten any other living creature?
Wouldn’t it be loverly if before a dog (pet or service animal) moved into your manufactured housing community that you could ask it about its previous history. Of course this is not a real plan, because dogs might not answer truthfully, even if under oath (maybe because they have been told to “lie” down so much).
by Eddie Hicks
It is my considered opinion that for the manufactured home land lease community industry to make serious gains, we are going to have to resolve a dichotomy. Who are we going to market and appeal to with our high value manufactured homes?
With the notable exception of seniors, most of our industries traditional home sales have been to buyer/residents using chattel mortgage financing with minimal down payments and fair to poor credit. That hasn't worked well in recent years largely because of the inherent high rate of loan defaults. And with past abuses, we have largely been abandoned by many investor sources. With the exception of the FHA Title I program, there is not much of a secondary market for our lender's notes. Unless we improve the financial and credit status of our home buyers, were are going to be stuck in this pattern, forever.
by Chrissy Jackson
Components are not people. Components are items that the people involved in creating the budget use to better enable them to forecast the financial future of the community. The more components that are available and the more that you use, the more accurate and complete your fiscal forecasting will be.
How can you see into the future? One of the best ways is to look at the past! That’s right. The historical financial performance of a community is the first component that should be reviewed when creating a new budget for the future. Look at the various categories. Be sure you understand what charges, costs, and other expenses were put into each expense category. Think in terms of the big picture.
by John Merchant, JD
OPM is every bit as addictive and dangerous as O P IU M and it's caused grief to many victims, both "users" and their money sources. OK, just a minute here! What's OPM?
As the more worldly and experienced realty investor knows, it means Other Peoples' Money (OPM) and I'd suppose most or all of us who weren't born with a built-in golden spoon have looked at or taken a bite or two of that apple at some stage of our housing and Real Estate Investment (REI) career.
To prove my point, anybody in the room you are in who has NEVER used money or credit belonging to somebody else (with their ostensible consent of course) please raise your hands.