I’d be glad to help anyone who is looking to fill parks using the Cash program.
My name is Darren Oliver and I am the community specialist for Southern Homes in Alabama. We offer low end houses and can customize homes to fit your needs. Anything from 14x40 up to 16x90s. Double wides as well.
We are high volume and I can get you your houses in under 2 weeks. No waiting for 2 months and losing that rent money.
My contact information is
Darren Oliver - doliver@sehomes.com - 256-277-7223.
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We finally have the recording of this webinar available! Here is a link to view it!
We hope you enjoy it and find the information extremely valuable!
Thank you for the conference call of the CASH program.
It gives us a MUCH better view of how to increase the value of MHP’s.
Hats off to Frank and Dave and the rest of the MHU crew.
Mike Weiss
mweiss1031@gmail.com
Thanks Mike! We are glad you found it valuable!
Hi Brandon,
Would like to second that. Very helpful and informative discussion and Frank and you do a fabulous job in asking questions that listeners may have not have thought of.
Kudos!!!
Sounds like this program is gaining some traction. Follow up questions:
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SAFE Act and Dodd Frank, etc prohibits sales person from “steering” customer to a certain lender. How do you tell the shopper that the 4.5 % rate only applies to 21st without violating that rule? Would be nice to be able to advertise this program but same problem - it favors one lender.
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I have heard that 21st charges some steep closing costs and fees. What are all the fees associated with each loan?
Bret
Bret,
I will add this to our list of questions for the follow up interview.
We should have the scheduled very soon.
Brandon
We will hosting a follow up Q & A on June 30th at 2pm Central Time. To join this free interview, visit this page and fill out the registration form:
You can email your questions to brandon@creuniversity.com.
We look forward to having you on the call!
-Brandon Reynolds
Hello Darren,
I am evaluating a park that has a number of empty lots and I am very interested in how the Cash program works. Can you give me a call when you are available? Thanks…Jeannie 702-521-6261
I just listened to the first CASH PROGRAM webinar, it was a great start.
Does anyone have experience with how long they want you to be in the business before they will work with you if your net worth is under 250k
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Noticed this subject has over 2,000 hits and the next with over 1,000 hits direct mail soliciting. With many years of experience most of the parks with high vacancies and in existence over 35 years were FULL at one time. What is maybe not mentioned is when the last economy downturn 07-09 many parks experienced a tremendous loss of homes and tenants. The present economy has many sticky issues and one that is very troubling is the lack of net income increase for workers for the last 30 years. It sound great to fill empty spaces but with your own money being in jeopardy with the Cash Program think smart. When we have another troubling downturn spaces will empty again–whose money is at risk. We buy parks with plus 90% tenant owned occupancy and presently we have parks we are adding spaces to but are not using any incentives for tenants to bring homes in–we have had 10 new homes brought in the last 8 months. It is good business sense to buy into very strong economic areas.
My name is John Gainer and I work in our Community Park Program at Legacy Housing. Sitting at the nexus of where community owners and manufacturers, I get quite a bit of feedback on the CASH program. There are several elements that can be strengths or weaknesses depending on a given park owner’s circumstances and strategy.
Legacy offers an alternative finance program and access to any of our lines of homes that has helped many community owners increase the scale of their revenue without having to break the bank.
Feel free to email me at johngainer@legacyhousingltd.com or give me a call at 817-632-3351 ext 166 if you would like any additional information.
John thank you for taking time to indicate your availability. We have bought both from Legacy (only good thing to say) and Clayton homes and most know in the past what I have said about Mr. Buffett. It would be fantastic to have a round table discussion of all companies sitting at one table showing why they have the best program for park owners and better learn what most park owners need the most as per new homes. We have buying power but wonder how to be more effective for ALL park owners to fill empty spaces and increase their cash flow. As a group we have strength but as individual park owners??? Farmers have pooled their money to create ethanol plants why has not the park owners pooled to develop their own plants since from experience farmers are VERY INDEPENANT unless they see a common good. We are suppose to be in business to make money–sometimes we need to WORK TOGETHER. Just my thoughts–since I know Mr. Wonderful is probably the best business man on earth and at this point he is only passing out scraps (why 9% interest rates)??? I would be glad to loan our money out for 6% interest as would many other people.
Carl,
Don’t know if I should capitalize your name or not:-)
I find your comments about the loss of residents during the last downturn most interesting. The same thing happened to me and I can’t help but think that it may happen again when the next downturn hits. I live in China and I can easily see this country’s truly frightening economic problems becoming the world’s really, really soon. Then what happens to our occupancy? MH parks were supposed to be the be all and end all solution to people losing their homes, but it sure didn’t work out that way. My business partner and I will soon be dealers and able to take advantage of Mr. Buffett’s generosity, but we are troubled by the same thoughts that appear to be bothering you.
Rolf
Rolf, We have owned only one family park out of the twelve we owned and presently own I am just trying to help those with family parks to recognize the weakness of the working class as per wages since there has not been a net increase in wages since 1970. Generally when owners are operating with great ROI’s little thought is given to a major downturn. During 07-08 we were owner operating over 200 spaces and did not lose one resident to foreclosure since we moved to a great niche market and we had friends who lost over 3 parks since the banks pulled their loans. Presently if a decent park comes up for sale it is like a bunch of flies on honey–be careful when the crowd is pushing aggressively in certain direction as opposed to buying in 09–11 where buyers were scarce and sellers abundant. We have been putting parks under contact but during DD throwing them under the bus.
Thank you for the reply Carl. It’s not uncommon for a lot of my clients to utilize both Legacy and the CASH progam and I love hearing their feedback. I believe very strongly that limited access to financing is a major obstacle for a lot of owners and am grateful to be a part of a company that offers a solution to that problem. There are several differences between our programs but having options on the table for owners to take advantage of is a step in the right direction.
As for your roundtable idea, that would be a sight to see! Interestingly, awareness of alternative programs like Legacy’s is relatively low and something like that would likely increase exposure. I’ve been reading “Too Big To Fail” about the banking crisis of '08 and a large part of stemming the downturn in the market was the result of 8 different banks pooling a fund together that cover trades lost with the downfall of Lehman. Thoughts about the banks aside, reading your comment of working together, even while being in competition, truly resonates. It’s the old saying that the rising tide lifts all boats.
I just talked with a Legacy sales rep. Interesting program and rather unusually sized homes. They don’t even require that you have a dealer’s license. The problem is that they want a huge (for a small park) commitment and that involves a LOT of money. It is not a bad program by any means, but it won’t work for me or probably most small operators. I think Carl’s suggestion for park owners to work together has merit. Perhaps if there was some sort of buyer’s co-op where a bunch of park owners, small and large, bought a chunk of homes together, we could negotiate better solutions for everyone. We are all just out there doing our own thing and not getting very far unless you are one of the big boys like Frank, et. al.
I’m in NE Ohio and in need of homes, just not all at once like Legacy’s program requires. If there is interest from other operators in buying together in bulk, I would certainly be interested in participating.
Rolf
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Good ideas here. I have about 150 lots in central Ohio that need to be filled. Would be interested in a coop arrangement.
Bret
Bret, what part of central Ohio? I like the idea of pooling resources.
I have 2 parkin New York State and I have vacancies that I have been diligently trying to fill. The cash program requires a dealers license and that is something that I can’t get approved for.
I love the idea of pooling resources and working as a team. That is my business model. Take care of others and it will always lead to opportunities. With that being said, I have been looking, obviously in the wrong places, for someone that would be interested in making ALL the money off the sale of the homes within my park. I am not greedy.
I don’t care if someone else is making the money off the sale of a trailer. I am just interested in cleaning up the park and filling vacant lots and bringing in lot rent.
Is there any thoughts or advice as to the best way to go about this?