Process, procedures and forms

[Bryan H.]

I'm looking to buy a park. I'm very process oriented and want to document everything. It will help the park manager to know what to do, how to do it, etc. 

Any park owners willing to share what they have put together? I'd like to model and adapt to my needs but also don't want to reinvent the wheel if someone would share. 

[Jeffrey H.]

You need to get the MHU materials.  It talks about strategies for legal and compliance, specifically using a Rent / Credit program.  While it hasn't been tested in the legal system yet, there are many large operators using it today.  Owner financing Lonnie Deals with 20% interest rates is a thing of the past and is predatory even if you can sleep at night holding someone hostage like that.  Not saying your plan is to do that, but don't even consider it.

@Ken Rishel is extraordinarily knowledgeable and tenured in the industry and his posts always get my due attention, along with many more reputable and sizable operators.  What each person needs to do is understand the applicable laws and regulations as they apply to various financing or mortgage strategies, and balance that with your risk tolerance and paranoia (which may vary depending on the week and political landscape - which also changes weekly).

Even the most seasoned real estate attorneys won't be able to navigate all of this expertly.  It will probably pass the sniff test for a small operator, but won't be 100% correct as with everything.  You will get the Hillary Clinton model - good enough to get the job done and not go to jail since your intent was good, but still a little bit irresponsible.  If you're a big operator hire out the help and do it right.