One-Day Atlanta Community Infill & Upgrade Workshop

SOLD OUT. Thank you for your interest in our “Infill and Upgrade Workshop” on 7/24. We regret to inform you that we have reached the limit of attendees which we feel we can effectively accommodate at this hands-on workshop. We are considering an overflow workshop in August. If you are interested in attending, please contact Alexandra Stone at (706) 252-5745. We will also be repeating this workshop at SECO24. Click here to register for SECO24

Wednesday, July 24th 2024 - 9 a.m. - 5 p.m.

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.

New! 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
  • $150 pp covering workshop, worksheets, documents, coffee breaks, box lunch & MHC visit
  • All proceeds to speakers, travel, & SECO veterans & first-responders fund (501c3)
  • Limit of 30 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

Agenda

Wednesday, July 24, 2024   

  • 8am - Registration, WiFi setup, computer files access
  • 8:30 am - Introduction, purpose, objectives      
    Cash flow and IRR of MH sales transaction      
    Pentagon Properties new MH "sales
    Structure of Lease-with-Option-to-Purchase (L-O)       
    SAFE Act compliance
  • 9:30 am  - Examples of new MH L-O transactions
    Demographic market data
  • 10:30 am - Review of actual new MH & onsite costs 
    Review actual L-O agreements   
    L-O Q&A, myths & mistakes
  • 11:30 am    Lunch  
    Attorney Q&A, MH acquisition financing - lenders, investors
  • 1:30 pm - Marketing, promotion
  • 2:30 pm - Prequalification of applicants 
    Application processing 
    New vs. Used, SW vs. DW
  • 3:30 pm - NADA values, used MH removal/disposal
    Home specs, ordering
    Home installation
    New MH warranty
  • 4:30 pm - L-O defaults   
    Computer folders, files, database      
    Conventional financing, conversion
  • 5:30 pm - Meet speakers, manufacturers, lenders, vendor

Thursday July 25, 2024

  • 10am - 2pm Visit Cedar Village MHC, Carrollton, Ga.

SECO has secured special rates for workshop attendees at Country Inn & Suites Hotel in Atlanta

Click here to book your room

If you need assistance with your room registration at County Inn & Suites, please contact Genet (678-909-5203) or Johnnetta (678-486-4461).