Archive for June, 2020

Land Lease Communities Extolled by NREI Magazine

Thursday, June 25th, 2020

Blog # 591 @ 26 June 2020; Copyright 2020. Educatemhc.com

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ’mobile home parks’, comprise the real estate component of manufactured housing.’

EducateMHC is the online national advocate, asset class historian, data researcher, education resource, and communication media, for all land lease communities throughout North America!

To input this blog &/or affiliate with EducateMHC, telephone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. Also email: gfa7156@aol.com, & visit educatemhc.com

Motto: ‘U Support US & WE Serve U!’ Goal: To promote HUD-Code manufactured housing & land lease communities as U.S. # 1 source of affordable attainable housing! Attend MHM class!

INTRODUCTION: Ah, this is a classic GOOD NEWS/BAD NEWS Communique!

I.

Land Lease Communities Extolled by NREI Magazine

“Manufactured housing properties are not only surviving the economic crisis created by the spread of the novel coronavirus. By some accounts, the sector is thriving compared to other types of real estate. There are some estimated 50,000 land lease communities of all sizes in the United States. Of these communities, a majority are properties comprised of 100 or fewer rental home site, and a minority are properties with 100 or more rental home sites. The larger properties, consisting of 100 or more sites, are already widely owned by the 500 known major players.” P.9 June 2020 issue of NREI magazine.

In my opinion, this superior operating performance (i.e. relative to physical and economic occupancy measures) during the coronavirus pandemic, has been one of the better kept positive secrets among land lease communities. Sure, there are, and continue to be, exceptions to this generality; but time and again, I hear reports of near 100 percent rental homesite fee collection! Reason? Can only guess at this point, but probably due to homeowner/site lessees being sincerely grateful to be living a lifestyle replete with an eminently affordable home.

II.

The Other Side of the Land Lease Community $ & Lifestyle Coin

Here’s correspondence penned by a 20 year homeowner/site lessee (i.e. resident, tenant) of a land lease community in Montana.

“…they…raised our lot rent – the monthly fee we pay for the land our homes sit on – from $285 to $450. They also started charging us new fees, like for garbage and water, which used to be included in our monthly lot rent. When you add in the extra fees, the new property owner) basically doubled our rent. And they have indicated more increases are on the way.”

What’s happening here is not unusual these days! Consolidators (i.e. land lease community portfolio owners/operators from within or outside the manufactured housing industry), in order to acquire investment grade (i.e. usually more than 100 rental homesites) properties are willing to over value and over pay for them – in the near term, enriching the sellers; but in the long term, financially handicapping homeowners/site lessees. Once in control, and to be able to pay the already known operating expenses, AND very large debt service (mortgage) payments, the new owners/operators increase the site rent rate to whatever level accomplishes these ends.

So, what’s going on here, besides the obvious? Different people call these circumstances different things. Some say profiteering (i.e. ‘making an unreasonable profit on the sale of goods’ – and or leasing scarce property rights and housing units); others say predatory land lording (i.e. ‘seeking to exploit or oppress others’), while still others simply call it capitalism.

Consequences? For those, we’ll have to, for the time being anyway, wait and see. Seriously. During my 40+ year career in manufactured housing I’ve seen and experienced our industry’s ‘boom to bust and back again’ scenario over and over. Examples:

• Mid 1970s when new ‘mobile home’ shipments experienced their historic acme level (i.e. 579,940in 1973), plummeting when prudent lending practices among banks and service companies all but disappeared, and credit (repossession loss) insurance companies unaware of their extreme exposure to uncontrolled loss ‘crashed’.

• Loan term limits in 1980 were extended out to 20 years, increasing to 30 years by 1995. Result? No equity on most ‘home-only’ loans, for extended periods of time, and down payments dropped from ten to five percent.

• During late 1990s, as manufactured housing firms competed with traditional site-builders for ‘land and home’ package sales and placement, emphasis on ‘big box = big bucks’ focused marketing attention away from in-land lease community installation of new HUD-Code homes. Consequences? Loss of easy access to chattel capital for new home seller-financing. And our industry experienced a two decades long paradigm shift characterized by new homes sold, less and less, by independent (street) MHRetailers and ‘company stores’, and more and more, directly into land lease communities (e.g. 24% in 2009; 40+% by 2016).

Now it’s two decades later and we still, as an industry, have not returned, or eclipsed the 100,000 new HUD-Code homes shipped annually benchmark. And what’s happening at the behest of some portfolio owners/operators of land lease communities, relative to rental homesite rates as just described, will not stimulate new home sales and placements! Rather, the practice is akin to ‘shooting oneself in the foot’!

Industry Watchdog Cuts Through the BS

Friday, June 19th, 2020

Blog # 590 @ 19 June 2020; Copyright 2020. Educatemhc.com

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ‘mobile home parks’, comprise the real estate component of manufactured housing.’

EducateMHC is the online national advocate, asset class historian, data researcher, education resource, and communication media, for all land lease communities throughout North America!

To input this blog &/or affiliate with EducateMHC, telephone the Official MHIndustry HOTLINE: (877) MNFD-HSNG or 633-4764/ Also email: gfa7156@aaol.com, & visit educatemhc.com

Motto: ‘U Support US & WE Serve U!’ Goal: To promote HUD-Code manufactured housing & land lease communities as U.S.. # 1 source of affordable attainable housing! Attend MHM class!

I.

Industry Watchdog Cuts Through the BS

Were you privy to, and did you read, MHARR’s ‘take’ on HUD’s Office of Policy Development and Research (‘PD&R’) publication titled, ‘Evidence Matters’, released during June 2020? If not, I encourage you to phone (202) 783-4087 and ask its’ author, Mark Weiss, to send you a copy! *1

Why? Because Mark goes to great length to make his case, ‘An Unequaled Opportunity (Is) About to Go to Waste’! Specifically, he calls HUD out for not acknowledging ‘exclusionary zoning is a major problem for the manufactured homes it regulates’ – knowing all the while, it (‘HUD’) ‘has the statutory authority to preempt exclusionary edicts.’ And Mark goes on to describe, in detail, ‘the discriminatory lack of any meaningful federal support for manufactured home consumer financing.’ He also decries the lack of complete implementation of the Manufactured Housing Improvement Act of 2000 (a.k.a. MHIA@2000), though acknowledging the (hopefully) soon arrival of Ms. Dana Wade back at HUD as ‘the top-level political appointee with direct authority over the federal manufactured housing program.’

Stimulated enough to contact MHARR for a copy of this four page communique?!

End Note.

#a. Manufactured Housing Association for Regulatory Reform, or MHARR.

II.

What to Expect in ‘SmittyAlpha6’ Autobiography

What has been your major stay-at-home project during the coronavirus hiatus these past four months? Well, one of mine was to (maybe) finish the autobiography I’ve been penning these past several years…since finishing SWAN SONG in 2017, the combined history of manufactured housing shipments since 1955, land lease communities since 1970, and some of my career experiences. That book, by the way, is still available for purchase from EducateMHC: visit educatemhc.com Contains more MH & LLCommunity info than any other book heretofore published, or that is ‘in print’ today!

Well, I’ve pretty much completed the autobiographical narrative; now deep into content editing and proofreading for clarity and grammar usage. When will it be completed, printed, bound, and ready for distribution? Too early to tell, maybe later this year, more likely during early or mid-2021. In any event, here’s a taste of extraordinary life experiences already described therein….

As a toddler, I fell into an open cesspool behind our home in New Jersey and nearly drowned. Years later, my father taught me an ‘old foundry man’s trick’, of running one’s bare hand (in my case, two fingers) through a one inch thick stream of molten aluminum poured from a red hot crucible into a green sand mold – without being maimed! While in Vietnam, I was trained to chest-carry a soccer ball-sized nuclear munition, via helicopter, to the outskirts of Hanoi to destroy a major bridge. And shortly after returning home from overseas, our reserve USMC infantry company was activated in the middle of the night, issued combat arms and live ammunition, deputized, and ordered into Delaware River –flooded Chester, Pennsylvania, to restore law and order. A patently illegal, unprecedented, historical misadventure! Another decade later, I worked for a multiple mobile home parks owner, from the Middle East, who settled his Indiana and Kentucky major business losses by murdering a dozen attorneys and their clients, using an Uzi submachinegun, in a high rise office building in downtown San Francisco, California. And there’s more….

FYI. ‘SmittyAlpha6’ is the working title for the autobiography. What’s it mean? During the last six months of my combat tour in the Republic of South Vietnam, during 1968 & 69, I was commanding officer of A-Company, 3rd Shore Party Battalion, 3rd MARDIV. ‘SmittyAlpha6’ was my radio call sign.

III

WHITE PAPER

You likely first read about a WHITE PAPER, prepared by Next Step President Stacey Epperson & Clayton Homes Director of Communications Audrey Eason, in the current issue of MHInsider magazine. Therein, the article was titled ‘The Value of Manufactured Homes’. Did you read it? I did and was motivated to chase down a copy of said WHITE PAPER. Here’s some of what I learned from it:

• A thumbnail summary of mobile home and manufactured housing history

• A history and description of ‘affordable housing’ in U.S. markets – but sans any working definition.

• Too few ‘starter homes’, i.e. “…two-thirds of renters intend to continue renting because of financial reasons, up from 59 percent two years ago – with 11 million Americans spending more than half their paycheck on rent, according to the Home 1 Advocacy Campaign…”

• CrossMod™ “…new class of HUD-Code homes is gaining traction in larger metropolitan areas – and challenging zoning ordinances that have limited manufactured housing in the past. These homes are available at a smart, attainable price-point around $200,000, with land, in most markets.”

• Role of off-site built homes in disaster recovery plans.

• “…off-site homes can appreciate (in value) at nearly the same rate as onsite-built homes, with the national housing index experiencing an average annual increase of 3.8 percent…” Sorry; but I need to see more ‘stats’ on that one. In my experience, the only two large land lease communities, in the U.S. where large HUD-Code and modular homes routinely appreciate in value, are SaddleBrook in Grayslake, IL., and Bay Wood in Lewes, DE.

Of course there’s more in the WHITE PAPER than is being described here. One of the lingering questions, in my mind, is where do land lease communities figure into this off-site built housing picture? After all, nearly half of all new HUD-Code homes are now sold directly into land lease communities nationwide, where they are then sold and often seller-financed by the property owners/operators. Seems, to me, this WHITE PAPER delivers but ‘half a loaf’ where the overall manufactured housing industry is concerned. But hey, that’s just me a-thinking and commenting.

Hmm. Perhaps we now need a WHITE PAPER extolling ‘price point’ superiority of new off-site, HUD-Code manufactured homes going directly into land lease communities from factories. Any ‘takers’ out there? I’d be pleased to assist….

***

George Allen, CPM, MHM

Did You Know?

Friday, June 12th, 2020

Blog # 589 @ 12 June 2020; Copyright 2020. Educatemhc.com

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ‘mobile home parks’, comprise the real estate component of manufactured housing.’

EducateMHC is the online national advocate, asset class historian, data researcher, education resource, and communication media, for all land lease communities throughout North America!

To input this blog &/or affiliate with EducateMHC, telephone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. Also email: gfa715@aol.com, & visit educatemhc.com

Motto: ‘U Support US & WE Serve U!’ Goal: To promote HUD-Code manufactured housing & land lease communities as U.S. # 1 source of affordable attainable housing! Attend MHM class!

INTRODUCTION:

I.

New Dates for 29th Networking Roundtable: 7-9 July 2021; Nashville, TN.

Already we are planning something special, out of the ordinary where manufactured housing & land lease community trade gatherings are concerned. Details to follow when timing is right!

II.

Did You Know?

May 2020 jobs report forecasted a LOSS of 9 million employment opportunities; but when actual performance numbers became available, everyone was shocked to see an INCREASE of 2.5 million jobs – making this the largest one month employment gain in U.S. history! Yes, this is the ‘makings’ of a V-shaped, rather than U-shaped economic recovery curve. So, everyone, let’s do our part to sustain this forward and upward momentum going into the summer months!

I.

42 Year Comparison of MH; Then & Now!

How Things Were in 1978, & Now, During Year 2020

This interesting topic better fits my ALLEN LEGACY column in the back end of every issue of MHInsider magazine. After all, that’s where I get to write freely about various historic aspects of manufactured housing and land lease communities. And who knows? Maybe this blog posting will be expanded upon, during the months ahead, and wind up there for even broader readership.

For now, let’s go with 1978 – 2020 comparisons relative to trade terminology, rent collection, rules & regulations, resident relations, new housing sales, rental units, consolidation of the realty asset class, REITs, professional property management, utilities, and housing finance. to name a few categories.

In 1978, even though the new HUD-Code had been enacted, during 1976, it was commonplace to hear talk of trailers, mobile homes, singlewides & doublewides, tenants & toters; also trailer park & mobile home park. Today, none of those terms are in everyday use among savvy businessmen and women. Instead, we commonly hear, write, and talk about manufactured housing & housing, singlesection & multisection homes, residents or homeowner/site lessees, and transporters; also, land lease community. And of course there’re more examples, e.g. no longer plot, lot, pad, or stall; but rather rental homesite, or simply site.

How ‘bout rent collection? Back in 1978, it was commonplace to accept cash for monthly site rent payment. And due date could well be any date during the month – usually the anniversary date of when a ‘tenant’ moved his/her home into the ‘park’. Also back then, refuse removal and water expense was included, rather than submetered and billed separately, in the monthly rental bill; but not anymore, in most portfolio owned/operated communities. Today, rent collection is via personal check or electronic means (even debit payment), and based on the same ‘due date’ each month for everyone.

Rules & Regulations were also commonplace ‘back in the day’, usually required by licensing states, to be in writing and publicly posted. Not in a licensure state? Then not something that had to be done. During the 1990s there was a push, initiated and popularized by semi-retired freelance consultant Chrissy Jackson, ACM, to refer to ‘rules & regs’ as ‘Guidelines for Living’! Better sounding moniker, for sure, but maybe not carrying the potential disciplinary weight of the perennial ‘rules & regs’ term. Today? One hears and uses both alternatives.

Then there’s resident relations. Believe it or not, this was not a widely practiced concept in the ‘manufactured home community’ business prior to the 1990s. Seriously. It wasn’t until then, that now retired Martin Newby, of Newby Management in FL., encouraged the fledgling National Communities Council (before it was a division of MHI) to embrace this resident-focused concept. Today, enlightened land lease community owners/operators speak of the 6-Rs of Resident Relation, as being Good Resident Relations = More Resident Referrals = Max Resident Retention! Not a bad rule of thumb for professional property management of this unique type income-producing realty!

Speaking of professional property management; do you realize this is the most serious shortfall of all, where land lease community management is concerned? Back in the 1970s, one could take the Certified Apartment Manager (‘CAM’) course via National Apartment Association, or Approved Resident Manager (‘ARM’) course via Institute of Real Estate Management, and ‘hope’ some of what one learned would apply to managing one’s mobile home park. Today, however, conscientious community owners/operators utilize either the Manufactured Housing Manager (‘MHM’) program available via EducateMHC.com, or MHI’s MHEI program: Accredited Community Manager (‘ACM’). The sole common denominator, re professional property management, is IREM’s Certified Property Manager (‘CPM’) program. Today, there’re only about 125 CPMs who’ve declared an affinity for this realty asset class.

New HUD-Code home sales. Now here’s where there’s been a sea change in the way we do MHBusiness! Back in the heyday of manufactured housing (i.e. 1970s) the vast majority of new housing infill within communities occurred via ‘street dealers’ & ‘company stores’ – today, collectively referred to as Independent (street) MHRetailers – a trade moniker suggested by veteran freelance consultant William Carr of Iowa. However, today, up to 50 percent of new HUD-Code homes are sold and shipped directly into land lease communities for marketing, sale, and seller-financing there! This has to do with the loss of easy access to chattel capital, by MHRetailers, at the turn of the 21st century. Today’s land lease community owners/operators well know, they have to handle new home sales and financing on their own, if they’re to survive, let alone thrive, in this business model.

A vestigial occupancy-enhancing practice of the 1970s, that all but disappeared during the next 30 years – only to return a decade or so ago, is the rental of HUD-Code homes installed on-site! Major difference? ‘Back then’, rentals were often resale and reconditioned mobile homes; today they’re almost always new HUD-Code homes. ‘Back then’, some if not many, owners/operators collected ‘unit rent’ weekly rather than monthly like site rent. Today? They go with monthly collections, but also ensure a corporate rep (maintenance man?) visits every home regularly, ‘inspecting for vermin’ and changing filters in heaters, etc. (i.e. ensuring rental unit is kept in good condition).

Consolidation. During 1970s, thru 1987, there were but 25 known portfolio owners/operators of mobile home parks/manufactured home communities across the U.S. Then the realty asset class ‘consolidated’ as syndicators (1970s & 80s), then REITs & REIT imitators (mid-1990s), Resolution Trust Corporation (‘RTC’) deals, ‘equity play’ transactions, and now hedge funds, acquired, it seems, every land lease community containing more than 100 rental homesites! Today, there are easily 500+ land lease community portfolios domiciled throughout North America. For more information, read the 31st ALLEN REPORT, available via educatemhc.com. A sidebar consequence of consolidation, among land lease communities, has to do with the wholesale negative effect the practice has had on state manufactured housing trade body membership and influence.

On-site utilities. During the 1970s, investors, for the most part, preferred to acquire mobile home parks that featured self-contained water wells/pressure tanks, and wastewater treatment facilities. Why? Put them into excellent operating condition and run them far less expensively than buying those services from local municipalities – if even available. However, all that changed, as EPA regs tightened, and effluent reporting standards made it all but impossible for small businesses to afford to operate with such close tolerances.

Sure, there are additional areas of comparison – then and now, but you surely get the idea that ‘much has indeed changed’ during the past four plus decades. What are some of the topics to maybe be covered in future blog postings, or the Allen Legacy column in MHInsider magazine?

• Unique design homes to test various markets, over time; for example, developer series homes (1990s), community series homes (2009), and now, CrossMod (2020) homes to appeal to underserved markets. Also the discussion regarding ‘big box = big bucks’ homes versus role of ADUs (Accessory Dwelling Units), and RVs as ‘homes on-site’, especially on functionally-obsolete rental homesites.

• Change from reliance, among land lease community owners/operators, on HUD-Code housing manufacturer ‘reps’ for specifying new home brand, size, features, and more. Today? Use of the do-it-yourself ‘Ah Ha! & Uh Oh! Worksheet’ to calculate ‘risky’ and ‘affordable’ price points on any home.

• Uncertain attempts, over the decades, to transition the manufactured housing industry from its historic D&R Delivery reputation (i.e. ‘Drop & Run’), relative to new home delivery, to tacit responsibility for the safe and secure installation of said homes.

• Lack of manufactured housing sales training, outside MHRetail sales centers, ‘back in the day’ versus, since year 2016, special training via factory tours and classroom instruction for land lease community owners/operators. This alone has spawned an entire array of training aids, e.g. ‘Six Right Ps of Marketing’ = Product, Place, Price, Promotion, People, Process.

• Grading and valuation of land lease communities too, has come a long long way. The Woodall System hasn’t been updated since 1976; now replaced with the ABClassification System. And would be buyers of smaller, average condition communities now routinely use the New Rule of 72, to estimate capitalized income value of such properties.

And the list goes on. Continue to read this blog posting every week, to stay ‘in the know’ about manufactured housing and land lease community operations.

George Allen, CPM, MHM. c/o EducateMHC.com

(April) MHShipment Volume Slides & (June) Stock Prices Climb!

Friday, June 5th, 2020

Blog # 588 @ 5 June 2020; Copyright 2020. Educatemhc.com

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ‘mobile home parks’, comprise the real estate component of manufactured housing.’

EducateMHC is the online national advocate, asset class historian, data researcher, education resource, and communication media, for all land lease communities throughout North America!

To input this blog &/or affiliate with EducateMHC, telephone the Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. Also email: gfa7156@aol.com, & visit educatemhc.com

Motto: ‘U Support US & WE Serve U!’ Goal: To promote HUD-Code manufactured housing & land lease communities as U.S. # 1 source of affordable attainable housing! Attend MHM class!

INTRODUCTION: MHShipment Volume (+) LLCommunity Portfolio Stock Prices go different directions; ‘Smitty Alpha 6’ reappears after 52 years; and, Hint of a Very Special Happening!

I.

(April) MHShipment Volume Slides
&
(June) Stock Prices Climb!

MUST READ!

EducateMHC’s ‘MHShipment Volume for April 2020 (+) Stock Market Report’ for 3 June 2020’

This seminal report available to subscribers to the PRIME edition of The Allen Confidential! business newsletter, available via www.educatemhc.com

What’s going on? First, quotes from a national ‘Market Report on the Manufacturing Economy’, then select news tidbits from the aforementioned ‘MHShipment Volume (+) Stock Market Report’.

“Economic activity in the manufacturing sector contracted in April after 131 consecutive months of expansion, say the nation’s supply executives in the latest ‘Manufacturing ISM Report on Business’. The report was issued on 1 May 2020. Data was obtained from a survey of manufacturing supply executives based on information they have collected within their respective organizations. “The April PMI (a composite index based on five sub-indexes) registered 41.5 percent, down 8.6 percent points from the March reading of 49.1 percent.”

A PMI reading above 50 percent indicates the manufacturing economy is expanding, and below 50 percent, that it is contracting.

IN the meantime, what’s going on with HUD-Code manufactured housing and communities?

According to the two-pronged report referenced in this blog posting (#588), new housing shipments volume was down to only 6,639 units, from 8, 338 the month before! Given the coronavirus nationwide lockdown, this was not unexpected. What can we expect for the end of May? With across the board, among all eight public MH & LLCommunity portfolio firms, increases in stock prices on 3 June 2020; well, the 30 day lag in statistical reporting should serve our industry and realty asset class well! But you really need to see, read, and ponder the details in the report proper.

Never before have manufactured housing and land lease community portfolios enjoyed the advantages of this production and investment performance-tracking tool!

II.

‘Smitty Alpha 6!’

How many of you were ‘around & about’ in the MHBusiness during 1988 when we self-published Mobile Home Park Management – the first such book on that specialized topic in 20 years? You likely know, it’s now co-authored with Erin Smith, MHM, & Susan McCarty, MHM, and has been retitled: Community Management in the Manufactured Housing Industry. It is the only professional property management book marketed by the Institute of Property Management (‘IREM’), and is the core text of the highly popular Manufactured Housing Manager (‘MHM”) certification program. To purchase the book and take the one day MHM class, visit www.educatemhc.com

But more to the point, of this second part of the blog posting, how many of you recall the J. Wiley & Sons tomes in 1994 & 1996 respectively: Development, Marketing & Operation of Manufactured Home Communities, and How to Find, Buy, Manage & Sell a Manufactured Home Community ? Well, it took me several years, with the help of dozens of industry pros, to put those two case bound textbooks together. Well, I’m now going through a similar lengthy and intense exercise, but this time alone, pulling together Smitty Alpha 6 Huh? You read that right. Anyone care to guess the meaning behind that ‘working’ title for my autobiography?

‘Smitty Alpha 6’, frankly, is the tactical radio call sign I was given when commanding officer of Company A, 3rd Shore Party Battalion, 3rd MARDIV, in the Republic of Vietnam, during late 1968 and early 1969. And so, just for the heck of it, I’ve attached it to the now burgeoning manuscript covering my boyhood years in southern New Jersey, on through college years and beyond, with ‘Lynn’ (you know her as Carolyn), and soon, daughter Susan. The ‘Vietnam Years’ chapter has provided a long awaited opportunity to share true stories, long repressed in some instances, too raw to pen 52 years ago, with family and friends.

In any event, no firm target publication date. While most of the writing is done, I’m now deep into content editing, soon to add photographs to each chapter. Here’s a ‘visual’ for you. Know how we used to med-evac our, wounded from deep in jungle canopy? Have a Huey helicopter, hover above the treetops; drop a long (150+ foot) rope, with a triangular piece of plywood as seat at the end, down to through the trees to the ground. Then we’d seat the disabled Marine on the triangle; secure him with a web belt under his armpits, looped around the rope. Up he’d go, to be flown, dangling under the chopper, for maybe 20 miles, to nearest hospital or ship, for treatment. That’s one of dozens of interesting photos I’d like to include in this book.

There will be formal announcement when the autobiography is available for purchase. In the meantime, if you want your name placed on a ‘first notice’ list of potential book buyers, let me know via gfa7156@aol.com. There’ll likely be a significant discount for being among the first to order it.

III.

Date Change & Hint of a Special Happening…

OK, OK, we’ve acquiesced (‘yielded’) to coronavirus pandemic pressure to reschedule the 29th annual Networking Roundtable! New dates are 7-9 July 2021, at the original facility, the Marriott Hotel in downtown Nashville, TN. Details to follow…

A VERY SPECIAL HAPPENING? Yep, but no details here, other than this hint: Wouldn’t you like to attend an event where something occurs that’s never taken place before in the manufactured housing industry and among land lease community portfolio owners/operators? That’s the best I can do for you here, at this time. But that’s what we’re planning, i.e. ‘To knock your socks off’, so to speak.

***

George Allen, CPM, MHM