On this episode of the Mobile Home Park Lawyer Podcast, Ferd covers a case study. Ferd discusses how to turn zero into one million dollars with one park in two years. Ferd shares some tips and lessons he learned from this deal along with some reasons why the MHP industry is worth investing in and how it’s fun to invest in!
HIGHLIGHTS:
0:00 – Intro
0:26 – Ferd mentions how this case study covers a fun deal which he learned some lessons from
1:12 – Ferd begins to inform us about this specific deal
2:39 – Ferd mentions how when he first start looking at syndication, there wasn’t much information out there
4:07 – Ferd mentions how he used to do real estate/ retail development
6:39 – Ferd speaks about how he offered to buy the lot like a trailer park and how he’d work from experience
9:15 – Ferd talks about how high-end security cameras were put in place and mentions how that didn’t work due to poor WIFI. Ferd also talks about the lesson he learned from this
12:56 – Ferd states “lesson learned – be lucky”
14:51 – Ferd explains how his competition was three of the five largest MHP owners in the country were within two miles of Ferd’s MHP
15:01 – Ferd informs us how he crushed his competition
18:01 – Ferd states that mobile home permits/occupancy permits to infill lots
19:49 – Ferd talks about how he had a licensed electrician on his payroll and explains how that gave him an advantage over his competitors
24:01 – Ferd speaks about how a competitor demoed 60 houses in two weeks and started over
27:25 – Ferd mentions how submetering and implementing rules played a part in the success of this lot
30:02 – Ferd speaks about how he tied the deal up and the process he went through
33:32 – Ferd mentions how no one believed he could pull this deal off
39:07 – Ferd speaks about how his third option was to speak to investment funds
40:20 – Ferd mentions how he ended up funding the deal by himself and how he used investor capital for this deal
40:29 – Ferd states that this story is how to turn zero into one million
41:38 – Ferd mentions how one of the investors he wanted to invest in this lot said that they had never paid a fee that high and his response was “well you’re going to have to”
44:59 – Ferd states that the trailer park business is fun.
