The Mobile Home Park Lawyer Podcast
Business:Investing
In this insightful episode, we welcome Derek Vickers, the owner of Victory Real Estate Group, who brings his expertise in the mobile home park business to the forefront. Derek shares his unique perspectives on various aspects of the industry, shedding light on how he tackles different areas and navigates challenges.
We delve into the endless demand for mobile home parks in Tampa and discuss effective ways to test market demand to ensure successful investments. Derek also offers valuable insights on Fannie Mae financing and highlights the potential limitations that park-owned homes can have on exit rates.
One of the key takeaways from this episode is the importance of considering exit strategies when seeking deals in the market. Derek emphasizes the significance of thoroughly understanding budgets, emphasizing that missed prices, rather than misprices, often have a more significant impact.
Furthermore, we touch upon the common oversight of sellers neglecting to thoroughly read loan documents, highlighting the potential risks and implications. Derek's experiences and expertise serve as a valuable guide for real estate professionals in navigating these crucial aspects of the mobile home park business.
Tune in to this episode to gain practical knowledge and insights that will help you make informed decisions and maximize your success in the mobile home park industry.
Highlights of the episode:
00:00:37 Guest Introduction & Background: Derek Vickers
00:01:08 How Derek Got Into the Business
00:04:14 About Derek’s Park Homes
00:07:14 The Demand in Tampa Is Endless
00:08:46 How Do You Test Market Demand?
00:13:49 Prospectus
00:18:17 Fannie Mae Financing
00:21:55 Park-Owned Homes Could Limit Your Exits Rate
00:24:34 When Looking for a Deal, Look at an Exit Strategy
00:27:58 “What Ruins the Budget Is Not a Misprice, But a Missed Price”
00:31:56 A Lot of Times, Sellers Don’t Even Read the Loan Docs
00:34:43 Closing
00:45:41 Make Sure to Get All Your Titles
00:46:20 Closing
Connecting with MHP Law:
Website: https://themobilehomelawyer.com/
Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069
LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/
Instagram: https://www.instagram.com/themhplawyer
Connecting with Guest:
LinkedIn: https://www.linkedin.com/in/derek-vickers-0774b146/
Instagram: https://www.instagram.com/derekvickers885/
Linktree: https://linktr.ee/derekvickers885
Website: https://www.victoryrealestategroup.com/
#MobileHomeParkInsights
#RealEstateExpertise
#InvestmentStrategies
Ep. 187 | Interview with Chuck Schierbeck on Manufactured Mastery: Navigating Mobile Home Investments and Market Trends
Ep. 186 | Interview with Rachel Hernandez on Mobile Home Adventures: Investing, Wholesaling, and Sales
Ep. 185 | Interview with Victoria Cowart on the Do's and Don'ts Concerning Pet Screening
Ep. 184 | Interview with Douglas Raney on When and How to Amend A Contract
Ep. 183 | Interview with Pasha Esfandiary on Buying Parks Before They're All Gone and Buying With Scale
Ep. 182 | Interview with Nicholas Yale on Operating Hybrid RV and MH
Ep. 181 | Interview With Kirby Horton on Adding Value to Communities
Ep. 180 | Interview with Jason Postill & Tyler Lekas on How to Grow Quickly in a Target Market
Ep. 179 | Interview with Emma Norman on Mobile Home Park Loans and Real Estate Financing Strategies
Ep. 178 | Interview With Tim Woodbridge on Buying MHPs While Maintaining Happiness
Ep. 177 | Interview with Max Baker on How to Work With Brokers To Win More Deals
Ep. 176 | Interview with Jose Garcia on Working with Lonnie Dealers and Home Flippers in your MHP
Ep. 175 | Interview with Ben Braband on How to Acquire MHPs with a Strategic Approach Towards Growth
Ep. 174 | Interview with Shawn Dwyer on How to Get Started Buying MHPs While Working a W2 Job
Ep. 173 | Interview With Steve Case on How to Use Master Lease And Option to Buy Parks
Ep. 171 | Interview with Jason Janda on How to Avoid Mistakes During Diligence
Ep. 170 | Ferd Niemann on Pushing Back Against a City on Fair Housing Grounds
Ep. 169 | Ferd Niemann on How Ancillary Services Provide Value and Resident Satisfaction
Ep. 168 | Interview With Ken Schefler on Navigating The Current MHP Sales Market
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