Welcome to Episode 74 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Ryan Burke is a Wall Street Analyst for Green Street Advisors. This episode is Part 1 of a three-part series. On the show, he discusses where the future of manufactured housing is headed. There is a strong manufactured housing demand from baby boomers and millennials, and since nothing new is getting built, we are seeing the strongest revenue growth upcycle that the sector has ever seen.
Key Takeaways:
[3:40] What did Ryan do before he joined Green Street Advisors?
[6:05] What is Green Street Advisors and what does Ryan do for them?
[9:05] To remain conflict-of-interest-free, Green Street Advisors do not engage in investment banking activities nor do they own any properties.
[11:35] What kind of clients does Green Street Advisors have?
[12:55] When looking at the bigger picture, where does Ryan see the manufactured housing business going?
[14:00] Baby boomers and their children, millennials, are keeping manufactured housing in high demand.
[16:00] Ryan believes these demands drivers will be in place for the next 10 years, if not more.
[16:15] What’s going on when it comes to the supply of manufactured housing?
[17:25] Why has supply become so constricted over the years?
[18:20] What is Ryan seeing when it comes down to property-level characteristics?
[22:20] This episode is the first of three parts! Tune in next week for the second part.
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
Welcome to Episode 73 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Kurt Kelley is the CEO of Mobile Insurance, a family insurance business based out of Texas since 1991. On the show, Kurt discusses what kinds of insurance you need to best protect yourself against hurricanes and other natural disasters. No one loves paying premiums for their insurance, but subpar insurance can hurt you a lot more in an unexpected situation.
Key Takeaways:
[1:15] How can park owners properly prepare for a hurricane? That’s the subject for this week’s show!
[1:55] How bad is the flooding in Houston right now?
[4:25] What can park owners physically do to prepare their park for an oncoming hurricane?
[7:25] What’s the best way to prep tenants for the hurricane?
[8:25] What kind of park insurance should homeowners have?
[11:10] What kind of debris is covered in ‘debris clean up’ coverage?
[14:45] With the two recent hurricanes, how busy is Kurt at the office right now?
[18:10] What is FEMA doing both in Texas and in Florida right now?
[19:30] What can park owners do to help their tenants get assistance from FEMA?
[21:10] Take it upon yourself to know what your insurance covers and what it does not.
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
Call Kurt: 800-458-4320 ext 17
Email Kurt: Kurt@MobileAgency.com
Welcome to Episode 73 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Kurt Kelley is the CEO of Mobile Insurance, a family insurance business based out of Texas since 1991. On the show, Kurt discusses what kinds of insurance you need to best protect yourself against hurricanes and other natural disasters. No one loves paying premiums for their insurance, but subpar insurance can hurt you a lot more in an unexpected situation.
Key Takeaways:
[1:15] How can park owners properly prepare for a hurricane? That’s the subject for this week’s show!
[1:55] How bad is the flooding in Houston right now?
[4:25] What can park owners physically do to prepare their park for an oncoming hurricane?
[7:25] What’s the best way to prep tenants for the hurricane?
[8:25] What kind of park insurance should homeowners have?
[11:10] What kind of debris is covered in ‘debris clean up’ coverage?
[14:45] With the two recent hurricanes, how busy is Kurt at the office right now?
[18:10] What is FEMA doing both in Texas and in Florida right now?
[19:30] What can park owners do to help their tenants get assistance from FEMA?
[21:10] Take it upon yourself to know what your insurance covers and what it does not.
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
Call Kurt: 800-458-4320 ext 17
Email Kurt: Kurt@MobileAgency.com
Welcome to Episode 72 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Dawn Highhouse is the Vice President of Customer Care at MHVillage. On the show, Dawn discusses how mobile homeowners can benefit from using a website like MHVillage and how you can also find properties on the website to buy. There are lots of features on the MHVillage website that saves homeowners a lot of time as well!
Key Takeaways:
[2:55] What is Dawn’s background and how did she get started at MHVillage?
[5:50] How does Dawn help park owners?
[8:30] How does the park owner get notified on MHVillage that they have an interested tenant?
[11:50] MHVillage can also help park owners with appraisals.
[15:15] How does MHVillage compare to the Kelley Blue Book?
[16:35] How many homes get appraised/sell on the MHVillage website?
[18:45] How does the website help people buy mobile home parks?
[20:45] How much does the website cost to a park owner?
[23:45] Rent Manager works closely with MHVillage. What other third party apps can users benefit from by using MHVillage?
[26:40] What terminology does MHVillage use when referring to mobile home parks? Trailers?
[28:15] Has Dawn ever spent a night in a manufactured home?
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
Call MHVillage: 800-397-2158.
Call Dawn: 877-460-0259
Email Dawn: Dawn@MHVillage.com
Welcome to Episode 71 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Drew Babin is an equities analyst for Robert W. Baird & Co. Today’s show primarily focuses on Equity Lifestyle Properties and Sun Communities and how these two companies are performing in the marketing from a Wall Street perspective. Jefferson, Brad, and Drew discuss same-store sales, how Wall Street views certain revenue streams differently, and more!
Key Takeaways:
[3:35] How did Drew first get started in this industry?
[5:10] How does a company like Baird decide which stocks to follow and why?
[6:25] For Equity Lifestyle and Sun Communities stocks, what are the ratings on these stocks?
[9:25] Sun has not been as aggressive with acquiring properties over the last two years because they bought Green Courte Partners and CareFree Communities.
[12:40] How does Wall Street view the rental business vs. owning land as revenues streams? Do they see it the same way as the public firms do?
[17:15] Same-store sales are not a topic real estate people are very familiar with, but it is used as a metric for a company with already-existing assets vs. acquisitions.
[20:25] As there is no new competition in the mobile home park sector, what else drives the industry?
[23:00] Drew has noticed that there’s a bit of a misconception on what an RV really means vs. a mobile home park.
[26:30] Sun has a $6 million credit facility. How are they using/lending those funds?
[33:25] When analyzing these two companies, does Drew see how these stocks compare to the overall market? Any correlations?
[37:20] What are some of the risks to the industry?
[42:50] Park Street Partners uses a cash program from a Berkshire Hathaway subsidiary. Do Equity Lifestyle and Sun also use cash programs, or how are they filling in vacancies?
[46:50] If Drew had to retire in the next 30 years, which stock would he pick?
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
Email Drew: DBabin@Rwbaird.com