Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
Business:Investing
Welcome to Episode 118 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today’s guest is Dennis Smith from Freddie Mac. Freddie Mac is considered a GSE (government-sponsored enterprise) and with that comes the Duty to Serve mandate, which focuses on three underserved markets for those who make under 80% of the median income. On today’s show, Dennis explains what the Duty to Serve initiative means and how that affects both mobile home residents and owners.
Key Takeaways:
[2:20] What did Dennis do prior to joining Freddie Mac?
[3:40] Dennis dives into a little bit of the history of Freddie Mac and what GSE (government-sponsored enterprise) is.
[4:15] Where did the ‘Duty to Serve’ mandate/regulation come from?
[6:10] Duty to serve focuses on three underserved markets; Rural housing, affordable housing, and manufactured housing. How is rural housing defined?
[7:40] How is affordable housing defined?
[10:15] What does Duty to Serve mean for the residents of mobile home parks?
[11:25] And, finally, what does Duty to Serve mean for the owners of mobile home parks?
Mentioned in This Episode:
Park Street Partners
Investment Opportunities
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to Deals@parkstreetpartners.com
Freddiemac.com
Freddiemac.com/about/duty-to-serve
EP015: Tales from the Road to Closing
EP014: How to Partner with Park Street Partners and/or 'Bird Dog' for us
EP013: Capital Expenditure (CAPEX) Items and Your Mobile Home Park
EP012: Part 3 - What to Do Over the First 30 Days of Owning Your Mobile Home Park
EP011: Part 2 - What to Do Over the First 30 Days of Owning Your Mobile Home Park
EP010: Part 1 - What to Do Over the First 30 Days of Owning Your Mobile Home Park
EP009: Closing – Money Goes One Way and Title Goes the Other
EP008: The Benefits of Seller Carry – aka Seller Financing
EP007: Third Party Reports – The Phase 1, The Survey, and The Appraisal
EP006: Persistence Pays – Financing Your Mobile Home Park Investment
EP005: Initial On-Site and Off-site Diligence on Mobile Home Parks (Part 2)
EP004: Initial Off-Site Diligence on Mobile Home Parks
EP003: Demographic trends - stable and growing need for affordable housing
EP002: How To Find a Mobile Home Park to Purchase
EP001: Why the Mobile Home Park Industry Is A Compelling Business
EP000: Introduction: World's First Podcast Dedicated to Mobile Home Park Investing, And Why You Should Care
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