November, 20-21 - 2024
You just bought your first manufactured home community (aka “park”), or an entire portfolio, and are focused on increasing cash flow and community value by filling vacant lots, selling homes, and upgrading the community. Or you’re a lender or investor who wants to work with community owners to develop a cooperative chattel lending program. This one-day SECO-sponsored workshop is intended to help.
Click Here To View The Agenda
Highlights:
- 1 day, live, 8 hours, hands-on workshop in Atlanta, Ga.
- Focus on NEW MHs in communities (supporting doubling MH production in ’25)
- Heavy computer usage (use of spreadsheets & documents)
- Multiple speakers covering all aspects of new MH purchase, installation, sales, & financing
- Optional 2nd day visit to an Atlanta area MHC where 20+ new homes are sold per year for upgrade & infill
- $175 pp covering workshop, worksheets, documents, coffee breaks, box lunch & MHC visit
- All proceeds to speakers, travel, & SECO veterans & first-responders fund (501c3)
- Limit of 40 attendees to ensure interaction and training. Additional workshops to follow.
Topics:
- Benefits of siting new MH (not least of which is IRR)
- IRR of filing a vacant lot or replacing existing MHs
- Increase in MHC cash flow & value
- New MHs vs. used – moving, relocation, rehab, resident demographics
- SW vs. DW MHs
- Renting vs. Selling
- Lease-Option vs. Conventional financing
- Lease-with-Option-to-purchase (L-O) - seller "financing"
- Qualified legal basis of L-O (avoid mortgage origination, not RTO)
- L-O terms – option payment, lease payment, option price
- Structure of a Lease-Option transaction
- L-O example
- L-O contract
- L-O Info (assist with composition of contract)
- L-O defaults – frequency & costs
- Cash flow of L-O transaction
- Spreadsheet to structure transaction (local rent comps, zip code data)
- Converting L-O to conventional financing
- Conventional MH/chattel financing
- Two years of new MH sales at PPI communities
- NADA valuation of used MHs
- Home costs, specs
- Options/features in new MHs (eg - door swing/hinges)
- Onsite: setup, decks, skirting, a/c, landscaping
- Cost accounting data – all new MH costs including onsite, SW vs DW
- Selling new MHs in MHC (different from street retailers)
- Qualifying prospects (Pre-Qualification Worksheet)
- Accounting entries – option payment, lease, exercise option
- Depreciation – bonus, annual, recapture
- Proposal – original home + onsite costs, sales profit, repos
- Organization – stock numbers, folders/files, recording closings, off-site storage
- Marketing – flyers, social media postings, reviews
Click Here To View The Agenda
SECO has secured special rates for workshop attendees at Country Inn & Suites Hotel in Atlanta
If you need assistance with your room registration at County Inn & Suites, please contact Genet (678-909-5203) or Johnnetta (678-486-4461).