The MHPHOA research team have been assembling a list of quotes from various individuals in the mobile home park industry e.g. park owners, park managers, park lawyers, etc.
Periodically, we will post a "Quote of the Day" showing you how these mobile home park owners view the residents they are preying upon. We've seen references to mobile home owners as "Chattels" and "Cash Cows".
Wed, Nov 2, 2016 – In the November 2016 edition of PARKWATCH™, there is a section regarding local rent controls. Here is a quote from Terry R. Dowdall, a predatory California Attorney who specializes in providing legal services for the predatory mobile home park owners such as Kort & Scott Financial Group (KSFG).
Terry R. Dowdall (CA Bar 79463) and Robin G. Eifler (CA Bar 139286) of Dowdall Law Offices, A.P.C. have been counsel for hundreds, if not thousands of eviction proceedings against California mobile home residents. Terry R. Dowdall sees us as the enemy and based on this quote, we’re in the rice paddies while the predatory park owners are attempting to board the “last ‘copter out of ‘Nam...”.
Long term leasing exempt from local rent controls will not be with us forever.
Park owners will eventually be threatened and regulated, unless you long-term lease while you can. It is the “last ‘copter out of ‘Nam...” You need to be leased up to protect your investment; you owe it to your fiduciaries and investors to at least try.
The MHPHOA have a message for Mr. Terry R. Dowdall of Dowdall Law Offices, A.P.C. – that “last ‘copter out of ‘Nam...” will soon be decommissioned and we expect to see a number of Dishonorable Discharges after all parties have been debriefed.
Sun, Dec 27, 2015 – Here is a quote from Dave Reynolds, the Co-Founder of Mobile Home University (MHU) in Colorado, where they train prospective predatory park owners on how to make big money in the mobile home park business by pushing rents relentlessly.
Synonyms for Relentless: Oppressively Constant, Cruel, Heartless, Incessant, Merciless, Pitiless, Remorseless, Ruthless, Severe, Unforgiving, Unmerciful
Push Rents Relentlessly
There is no better way to make money in the mobile home park business than to increase rents. Every dollar of that increase goes directly to the bottom line and is worth 10 times more in determining the value of the park. Increasing rents by $1,000 per month yields $120,000 in sales value enhancements, at a 10% cap rate.
Groom the Park Into a 20% Cap Rate
If you push the rents by about 10% each year, it will take you only about seven years to double the rent. Can you push rents this aggressively? You bet. At $3,000 or so to move a mobile home, there is a huge barrier to moving out, so tenants will accept pretty much whatever you raise the rents to.
Dave Reynolds, Mobile Home University (MHU)
Dave Reynolds is an active community investor and also the founder and owner of MHPS.com and MHBay.com. Dave recently teamed up with another industry professional and investor, Frank Rolfe, and together they have created an entire series on How to Buy, Sell, Operate and Turnaround MH Communities.
Note: In the State of California, the cost to move a mobile home or manufactured home, including preparation costs at the final destination, can easily be $10,000 to $20,000. We surmise the $3,000 dollar amount quoted above is due to the age of the article and the cost differences between California and Colorado.
If you own a double-wide mobile home, you double the costs. If you own a triple-wide, you triple the costs. We've met with mobile home owners who have been through a move of this magnitude and one homeowner invested more than $50,000 to move a very nice mobile home with a major investment of assets.
Wed, Dec 23, 2015 – Regarding today's quote, one of the biggest loopholes in the California MRL has to do with 3/60 notifications and Unlawful Detainer Lawsuits. This MRL loophole is the single biggest contributing factor to mobile home owners in California losing their homes to aggressive predatory park owners like Kort & Scott Financial Group (KSFG) and their mobile home park management division Sierra Corporate Management (SCM).
Here is a quote from Frank Rolfe, the Co-Founder of Mobile Home University (MHU) in Colorado, where they train prospective predatory park owners on how to make big money in the mobile home park business.
Unfair Advantage #3: If you don't pay your rent, the park owner takes your house.
Of course, that's not what the law says – but that's how it works in real life in 99% of the cases. Let's assume the tenant can't pay their lot rent, but own their own home. They obviously can't afford to pay a mobile home mover $4,000 when they don't even have the $300 or so for lot rent. So instead they run off and abandon it. Then the park owner takes the home through abandoned property laws. Sure, it sounds unfair. But there's nothing illegal about it. It's no different than the self-storage center owner selling the tenant's contents for unpaid rent – except for the fact that the home is worth about 100 times more than the usual self-storage contents.
Frank Rolfe, Mobile Home University (MHU)
Frank Rolfe has been an investor in mobile home parks for almost 30 years, and has owned and operated hundreds of mobile home parks during that time. He is currently ranked, with his partner Dave Reynolds, as the 6th largest mobile home park owner in the U.S., with over 170 communities spread out over 20 states. Along the way, Frank began writing about the industry, and his books, coupled with those of his partner Dave Reynolds, evolved into a course and boot camp on mobile home park investing that has become the leader in this niche of commercial real estate.
Fri, Nov 22, 2019 –
Kabateck LLP attorneys representing hundreds of low-income mobile home residents in Long Beach, California secured a nearly $57 million settlement, which is the largest settlement ever involving a mobile home park.