All Forum Posts by: Ken Rishel

Unfortunately, California is a particularly difficult state for other solutions. Email me with your projections on number of transactions and transaction volume and I will try to help you find a solution.

 It varies from state to state. What state(s) are you planning on doing business in?

 Many of the state trade associations have ownership contact information that is not displayed on their websites. Normally members can have this for the asking if they agree not to share it. A few do have a small charge to a member for the lists complete with owner contact information. 

Illinois, (IMHA) for example, maintains such a list so that owners can be contacted directly regarding legislative issues. IMHA even has such lists for non member owners as well in order to try to persuade them to join the association. 

A lot of time and money went into building that list.

 Search my name. I have posted a full list for the whole nation on here repeatedly.

 Doyrs H identified as co Founder

 Just so you all know:

This seems like a good alternative for some operators and I am certainly in favor of even our clients having a service like this available to them because we hate it when they ask us for this kind of help.

However, I responded with a long list of specific questions about how they handle abandon home titles state specific and have yet to receive any detailed answers. So, I'm being cautious.

Why not just join the Colorado Manufactured Housing Association? You will have access to everyone who owns Colorado communities and have the opportunity to network with them at association events?

 New homes attract more and better buyers faster. If you need 15 new homes there are some manufacturers who will treat you better than others. Regarding inventory financing, some manufacturers will, and some won't. The CASH program as mentioned earlier is one example of a method of doing this, but there are many others. What works for one, others will shun, so give real thought to what you really want and need in the way of inventory financing, and then examine the trade offs.

Many community owners use outside investors, others use private individuals as lenders with you as the commercial borrower. There are many institutional lenders out there that are also interested in this. At least one will loan you the money to finance inventory and then loan (if you have one) your captive finance company the money to make loans to the the purchaser of the homes with which the inventory financing is paid off. There are also private individuals who routinely lend money to captive finance companies to make these loans.

Be careful with rent-to-own. Make sure it is legal in the state your park is in. Also make sure that you have your compliance management system is up and running before you start this. There are better solutions than RTO out there. As someone else wrote, more and more finance companies are springing up so if you are headed toward new homes you may not need anything else.

I have been very impressed with the quality of their offerings to community owners, especially when setting rent rates and for buying communities. The level of data is far more than available from other sources, and the fact that actual owner names of communities are supplied is an invaluable aid for someone prospecting for unlisted communities.

Check it out: https://reports.datacompusa.com and then, if you wish, comment here to let others know what you think.

Then you should talk to Zeman's in Chicago first.  I would call their main switchboard and follow the prompts. http://www.communityoperatingsolutions.com