Ep #103: MH Park Advisors -- with Skyler Liechty
01/29/19 • 57 min
In today's podcast, founding member of MH Park Advisors Skyler Liechty shares his in-depth knowledge of the mobile home park investment industry. He is a third generation park owner and also runs other businesses like MHC Leads.
Skyler discusses his processes to address issues with new owners moving in, handling market-dependent homes, and finding new investment opportunities.
QUOTES:
14:15 "Doing that on a scale, one might not be all that challenging. Two, more challenging. You start talking about five or ten or twenty as the example we used, there's lots going on there and it's much more difficult than what it seemed when you first set out."
15:39 "Everyone has their opinions about what's a better way. Us personally, we tend to like that lease with an option to purchase program simply because from an operational and functional standpoint, it's a lot easier if you have a problem with the resident."
16:18 "Once you decide what strategy you're going to go with, then that dictates what the process to execute on that plan is."
30:49 "Most people, they may call, they may email, but the biggest communication source we found was text messages."
44:40 "When people are looking for a home or a place to live or an apartment, whatever it is, it's immediate. They are looking right now. You call them two days later, it's not a hot lead anymore."
47:09 "I tend to believe that most transactions are relationship-driven."
HIGHLIGHTS
07:12 Introduction to Skyler Liechty and his entry into the mobile home park business
10:50 Discussion on the biggest challenges for new investors
14:29 Using strategy to master current processes and create an efficient system
19:34 The lease option program of Skyler for new homes explained
28:32 What is MHC Leads and how does it work?
42:13 How to integrate with existing software and programs for smooth workflow
45:36 Discussion on finding investment and acquisition opportunities
53:02 Roles of brokers in the mobile home park industry
RESOURCES:
- View Career Opportunities at Sunrise Capital by visiting Careers.SunriseCapitalInvestors.com
- Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
- Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
- Grab a free copy of our book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them Click Here to Grab a copy
- Get our Free MHP Due Diligence training Video DD.SunriseCapitalInvestors.com
- Rent Manager - Property management software
- Visit MH Park Advisor's Site
In today's podcast, founding member of MH Park Advisors Skyler Liechty shares his in-depth knowledge of the mobile home park investment industry. He is a third generation park owner and also runs other businesses like MHC Leads.
Skyler discusses his processes to address issues with new owners moving in, handling market-dependent homes, and finding new investment opportunities.
QUOTES:
14:15 "Doing that on a scale, one might not be all that challenging. Two, more challenging. You start talking about five or ten or twenty as the example we used, there's lots going on there and it's much more difficult than what it seemed when you first set out."
15:39 "Everyone has their opinions about what's a better way. Us personally, we tend to like that lease with an option to purchase program simply because from an operational and functional standpoint, it's a lot easier if you have a problem with the resident."
16:18 "Once you decide what strategy you're going to go with, then that dictates what the process to execute on that plan is."
30:49 "Most people, they may call, they may email, but the biggest communication source we found was text messages."
44:40 "When people are looking for a home or a place to live or an apartment, whatever it is, it's immediate. They are looking right now. You call them two days later, it's not a hot lead anymore."
47:09 "I tend to believe that most transactions are relationship-driven."
HIGHLIGHTS
07:12 Introduction to Skyler Liechty and his entry into the mobile home park business
10:50 Discussion on the biggest challenges for new investors
14:29 Using strategy to master current processes and create an efficient system
19:34 The lease option program of Skyler for new homes explained
28:32 What is MHC Leads and how does it work?
42:13 How to integrate with existing software and programs for smooth workflow
45:36 Discussion on finding investment and acquisition opportunities
53:02 Roles of brokers in the mobile home park industry
RESOURCES:
- View Career Opportunities at Sunrise Capital by visiting Careers.SunriseCapitalInvestors.com
- Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
- Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
- Grab a free copy of our book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them Click Here to Grab a copy
- Get our Free MHP Due Diligence training Video DD.SunriseCapitalInvestors.com
- Rent Manager - Property management software
- Visit MH Park Advisor's Site
Previous Episode
Ep #102: The Resident Owned Community Exit -- with Paul Bradley
In this episode of The Mobile Home Park Investing Podcast, Kevin shares the mic with Paul Bradley, founder of ROC USA. Paul started ROC USA to solve a big problem for homeowners living in mobile home communities. Traditionally, individual homeowners wouldn't be able to secure financing to purchase and collectively own the communities they live in. With the help of Paul's nonprofit however, ROC USA helps residents form a co-op structure, secure funding from vetted sources, and provide leadership training and support to help co-op leaders effectively run their communities. Enjoy this episode as Paul discusses the resilience of Resident-Owned Communities, and how ROC USA can provide a structure that allows an exit strategy for the private community owner. HIGHLIGHTS: [1:53] Paul's Background [8:59] What was Paul's first Co-Op Deal like? [12:37] When is it in the best interest of a Co-Op to revert back to private ownership of their community? [16:00] Who is the seller to a Co-Op? [28:03] Closing Thoughts.
RESOURCES:
- View Career Opportunities at Sunrise Capital by visiting Careers.SunriseCapitalInvestors.com
- Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
- Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
- Grab a free copy of our book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them Click Here to Grab a copy
- Get our Free MHP Due Diligence training Video DD.SunriseCapitalInvestors.com
- Visit ROC USA's Website
Next Episode
Ep #104: Behind the Scenes at Sunrise Capital Investors -- with Jethro Van Aardt, Director of Operations
Today's podcast features Jethro Van Aardt, Director of Operations at Sunrise Capital Investors. He has an extensive background in commercial real estate and asset management.
Jethro talks on how he’s implemented processes which produced multiple benefits to consolidation planning, better organization, cost savings, and higher quality of coverage, while also spearheading their insurance project. Quotes
"That's what it boils down to. That's why you want to choose your broker first. You also want to be sure that you've got the right person servicing you."
"Like everything in life, you get brokers that are small, they don't have access to products that the big corporates would have."
“But generally, I'd say about between 800 and a thousand pads is when you really could start seeing some great pricing efficiencies and really the brokers would start getting excited. Anything smaller than that, you know, it's going to be difficult to get the brokers excited because it takes a lot of work on their side too."
"Guys would never do this product if they felt that their clients were at risk or the entire industry was at risk."
"Insurance is a complex product. When you are going out there and you're comparing your different products, just make sure you're comparing apples to apples."
Discussed in this Episode:
- Jethro discusses his personal and professional journey leading up to Sunrise
- Details on his insurance project
- Brokers and the "Decision Matrix Tool"
- Working with IMA Corp of Jed Bond
RESOURCES:
- View Career Opportunities at Sunrise Capital by visiting Careers.SunriseCapitalInvestors.com
- Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
- Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
- Grab a free copy of our book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them Click Here to Grab a copy
- Get our Free MHP Due Diligence training Video DD.SunriseCapitalInvestors.com
If you like this episode you’ll love
Episode Comments
Generate a badge
Get a badge for your website that links back to this episode
<a href="https://goodpods.com/podcasts/the-mobile-home-park-investing-podcast-real-estate-investing-niche-16599/ep-103-mh-park-advisors-with-skyler-liechty-7314817"> <img src="https://storage.googleapis.com/goodpods-images-bucket/badges/generic-badge-1.svg" alt="listen to ep #103: mh park advisors -- with skyler liechty on goodpods" style="width: 225px" /> </a>
Copy