Welcome to episode 24 of the Park Street Partners’ Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson. This is the sequel of the interview that began on episode 23 with MJ Vukovich of Bellwether Enterprise. Tune in for the remainder of Jefferson and Brad’s discussion with MJ on various options for financing a mobile home park.
Key Takeaways:
[1:18] Find out what makes conduit loans so interesting.
[2:40] What insurance companies look for in a borrower.
[5:07] The kind of insurance companies MJ is referring to include, All State, Nationwide, MetLife, John & Cook’s, Lincoln Financial Group, American Equities, etc.
[6:31] Do mobile home park mortgages ever get placed directly with some of the CalPERS or big pensions?
[7:49] What CMBS lenders look for and what might disqualify a loan, either on the property side or the borrower side?
[10:07] CMBS lenders, park-owned homes and the metro area population.
[14:54] Non-recourse loans, bad-boy carve-outs and what CMBS lenders look for in a borrower.
[17:18] CMBS and mixed-use properties.
[22:03] Chattel financing or chattel loans for mobile homes.
[27:58] MJ gives a shout out to his dad, uncle and the great people at Acentia who taught him everything he knows about mobile home parks.
[30:09] MJ signs off by sharing one last story.
Mentioned in This Episode:
Park Street Partners www.parkstreetpartners.com
Mobile Home Park Investors www.mobilehomeparkinvestors.net
Park Street Partners - Investment Opportunities
Park Street Partners - Resources
Mobile Home Park Investors Group on LinkedIn
Email your deals to: deals@parkstreetpartners.net
