Welcome to Episode 59 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Dick Ernst has been involved with the Manufactured Housing Institute (MHI) for the last 25 years, and currently serves on the board of directors. On the show, Dick discusses MHI’s financial lobbying efforts, and offers a behind-the-scenes look at what it takes to help people buy mobile homes.
Key Takeaways:
[1:20] Who is Dick, and how did he get into manufactured housing?
[5:45] How did Dick end up on the board of directors for MHI?
[9:05] What’s MHI’s vision for mobile home park financing?
[13:40] The whole reason banks and mortgage companies are not in this business right is because they don’t have any place to sell their loans. However, that’s about to change.
[16:10] Fannie & Freddie have dipped their toes in manufactured housing, and it has not ended well for them.
[18:30] The industry continues to grow every year at about an 8% annual rate.
[23:00] Dick believes that direct lending is the best way to deal in the manufactured housing business.
[26:25] Join us next week to listen to part 2 of Dick’s interview!
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
