Ep. 165 | Case Study: Ferd Niemann on How To Make More With Less. Bigger Splits For the GP Beats More Pads!

The Mobile Home Park Lawyer Podcast

In the latest episode of The Mobile Home Parks, host Ferd Niemann discusses his experience as a mobile home park owner operator. Niemann shares a quote by Bill Gates that inspires his approach to work: "Give a lazy person a hard job because they'll find an easy way to do it." Although Niemann is far from lazy, he strives to work smarter, not harder. He shares his strategy of owning fewer parks but with a heavier workload to earn twice as much money and work half as much as his peers.

Niemann also discusses his investment strategy and the metrics he uses to evaluate deals, such as IRR (internal rate of return), pref (preferred return), cash on cash, and equity multiple. He believes in taking a bigger split to maximize returns for his investors while ensuring there is limited risk. Niemann also emphasizes the importance of evaluating the probability of a business plan succeeding and not solely relying on Excel spreadsheets, which can be easily manipulated.
Highlights of the episode:

00:00:37 Episode Introduction

00:02:20 Take a Bigger Split

00:07:50 Demoeding a Bunch of Homes

00:12:54 Abandoned Housing Process

00:16:59 Title Objection

00:20:31 Trapped Equity

00:25:07 Chopped Earnest Money

00:31:05 Getting Stuck on Taxable Hit

00:34:38 Closing

Connecting with MHP Law:

Website: https://themobilehomelawyer.com/

Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069

LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/

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