Welcome to Episode 68 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today, our two hosts bring on Ryan Howerton from 21st Mortgage to discuss how more park owners can help their residents become owners themselves. Ryan explains that there is a ‘free’ way how you can do this!
Key Takeaways:
[2:30] Who is Ryan and how did he get his start at 21st Mortgage?
[5:00] 21st Mortgage has a CASH program, how does this help both the park owners and tenants?
[8:35] Every year Ryan and his partner Lance looked at how they could improve this CASH program.
[13:35] The benefits of working with 21st Mortgage’s CASH program is that you also get access to a wide variety of expertise all across the nation. Ryan and his team have learned from their mistakes, and it makes no sense why you should start from zero.
[14:30] Ryan’s main focus for the customer is affordability. He aims to get the best setup as possible at the best price possible.
[19:00] Why does Ryan deny certain applicants? What do tenants need to know before they apply with 21st Mortgage?
[21:35] What are some the reasons why park owners are denied from the CASH program?
[26:55] How long does it take to get a mobile home park from 21st Mortgage?
[36:40] How has 21st Mortgage changed since Warren Buffett of Berkshire Hathaway has bought the company?
[40:35] At the end of the day, it’s all about the people. 21st Mortgage wouldn’t have seen the growth that they’ve seen without their dedicated and hardworking team.
[43:00] Does 21st Mortgage finance tiny homes as well?
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
Call Ryan: 866-727-4733
Email Ryan: RyanHowerton@21stMortgage.com