How To Sign North Dakota Banking Form

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Frank brought I already know that I forgot the products with a picture around her we'll be together the next three days with just one goal and that's to make everybody here a competent mobile home park investor so we're gonna show you how to find properties evaluate a negotiate and renegotiate them finance of due diligence on them properly buy them clothes on them turn them around and operate them and even sell so here it's gonna cover absolutely everything we don't have a lot of structure in the class so basically you're always free to ask questions at any time you don't have to wait a little break you can just to direct me to the another question just trying to keep it on topic to that segment so we plug in finance and make them finance other goals would be designed this class attracting new complete facts we know there's nothing to tell you we don't sugarcoat anything so this is just this is a very rational basic class like a college class a little party this drink will show you all the different ways to buy and operate parts that there are lots of different business models and niches and things people do in the industry to show you all the different ones simple which we don't do but we're going to show you all different ways different things you can we're trying to help you prioritize what's it worth what's not with probable nonpartisan suits of Soviet people you have an apartment a free pass not able to actually tell initially what's important looks not where you're trying to show you what's important what's not important even give you a little formulas we've come up with and even little tricks and things so you don't get rid of the stuff what is we show you a lots of outside-the-box approaches this is the others to quality real estate sinners they accept mostly self storage and so nobody hasn't completely yeah there's nobody who's dominant industry there's nobody who's with LeBron James and look at the parks there are people out there who do a good job there's people to a fairly large big very big ones that fail PRC was among the largest in the US and they field was your play alright so it really is not anyone that great and I got in the business there was one group there we thought was the best which was called Chateau it shows how sold there's two off they've all got like but there is nobody out there today that you can say oh man I want to be like that because there is no that guy yet in local parks so you may be that guy cuz nobody is a guy so far because of you well cause they never seem to fail it they they tried to do an industry roll up very quickly very low life screws with your carcass for sale if you were breathing you could sign a contract they would buy it from you and the whole idea would be they went to roll up a giant ass a parsec a pub so they did they did accomplish the role to drive mass it did accomplish no public part that in the polity actually that have earnings right and you're paying two times which should be paid it's really hard to produce earnings so almost immediately they failed and it worked out they fired everybody the investor busy had a revolution overthrew the company they ever have the founder bitterly everybody it was like how do we get our money back out of this mess and although the what happened is one of the largest private equity groups that was involved they couldn't bear to lose their investment in a hundred million so they actually bought out the company took a private whether to liquidate down a lose the money and they are still battling to try and turn it I don't think in return it's literally like there's something trying to save the Titanic it's almost painful the lobster try everything they can think though you know superglue bubblegum everyone look party balloons and stick it in there it's not it's not working out very well and they and they slowly been liquidating some very small pieces of their portfolio a long series of options but there's not get anywhere near the prices that they pay so that's what happened they they look over the fifty thousand watts so you can be biggest uh not know what you didn't really everything we show you in the class because we own it and have owned so many park right now we own seventy two hundred Lots so we're the 20th largest owner in the US or seventeen states that's just this portfolio you have the old portfolio that Dave and I have had the past week we've had ten to twelve thousand Lots right which may seem kind a big bear mind equity lifestyle has one hundred fifty thousand pounds so but we haven't had enough lots at this point everything we tell you we can back up with a story of what happened because we've tried almost everything so we can give you like scientific examples of data of how different things you can do and then of course tomorrow we're gonna show you the real life in the field little part business some of the parts of which we've done in the past many of them we dealt with we have to have a feel again on the rules you need to rub me at any time there's no question answer period the entire classes of giant question and answer period when we're out the property don't make fun of the people even though their lifestyle gonna be pretty depressing though let's say if you want an idiot understand don't throw peanuts to the American you know whatever what even with so much material covers are even more tomorrow or Oh we'll grab a bus we keep talking while we're on the bus so we have just a continual discussion a paradigm we have - nothing to sell you you buy virtual vendor on everything we've ever written or done so you can relax we don't do coaching or any other creative stuff so basically this is this is a little deal all right let's go on the background no basically what happened was David David and I both live in parks over the 40 years and if you had a few parks this business are soaking people to be their own apartment rothenburg many parks have asked to speak of things and Dave and I worded by the speaker the big four mobile home millions and you see in a better than a mobile home millions it should run because that's a pretty name there's a good one so we've got a disadvantage is free air is too good at a speaker at this event we go down because we're curious as to what's going on and then Dave and I just randomly and it'll be much of a subway and we said wow and then this material is awful we're going oh you can run such a better stuff this is off track so we just having to eat fried a little clock so early I may just four little books about the industry and just kind of fun and then he's starting here Holly those books and that thing that you see that I'm steady course we have too much overlap one book would have the same thing is the other rule blocking so you put them all into one giant giant book and then people say well gee boats are need but we really like it more of like a good cat format could you do that so that's what we got to do this so this is this has been kind of organically grow it's never really been a big goal do boot camps Dave and I have almost identical lives it's really weird I live in a small town of about 5,000 he lives in a town of about 5,000 we used to drive the same car we've got that super dodge Durangos we also written / it's you know yeah I see leave innocent dog so but we didn't know what it was very few ladies the different universes how I used to know David was I would get the letters from David was it by my parks out these days news huge great mail pieces and then Dave recently unearthed a letter I wrote back to him or an email or something not just before even he'll fax or something saying he's an idiot so that if I earliest I think today but but today we buy our stuff together we should never buy anything together the last several years believe on stuff together and it's worked out really well so when it when when I tell you stuff it's gonna be none combination of my life but also Dave's depended a life just as well so I'm gonna give you a framework a lot of different experience at the park business from all the parts of America I live in Missouri and they live in Colorado because there are our portfolios a little different also you know Dave and I are obsessed with people the grill would like to try and always over deliver if there's anything we don't cover over these three days let let us know is a document you need you don't find them on gravity to give you let us know what happened anything about that you want a big stockpile of forms and documents jump all over the place which we will happily give you if you could just tell us what it is that you want also if you have any deals already that you're looking at if you want me to look at I'm more than happy to do that during lunch I could do a very dinner my family is back in this area nothing to do here so I can look at anything you've got I can tell you later so I always look here show me anything you've got it started mobile home park pop quiz you know what are these items what is this item here in the locker this is not a bucket full of five look what is there is no grace no that's not great that's good answer it looks like and you wouldn't find a lot of grease in the law this is a kind of a mom and pops water water closet they the connections with local knowledge you have here this is where your wife allowed to connect the little table Internet's turn water on then that's their idea of winterizing to through some installation down and you know in Texas and Oklahoma that actually works doesn't get really cold enough it's a problem that would not work in North Dakota it's not a Vienna sausage what did what is this this is a Ximena this is yes this again is might be gas might be laundry go to the park it's another utility connections we have a grandpa display this is a good old power meter there's all kinds of weird nuances and tricks in power so we're gonna go over all those in class with more on the field this visit obviously this would be an underground power system right if I want to know how many apps that that box contains in other words the pipe bring in a hundred under that space how can I tell him the apps that thing is the breakers right you you'd what we'd open up this play right here at Spock's and go in and add up the numbers of the breakers which you'll do tomorrow right what is this and what's missing from it is right with the heart business one of the big shifts that's happened in the businesses that most of your homes in the southern states are now all anchored the select ability to the factory so overtime all these gas meters are disappearing the other grab you have it is a lot of times these old maps are possible to parts that are master major gas and we have Master meter gasoline we have one giant gas at the front we drive either the Parkins all the rest of the lives of meters that they start failing over time they're very slim so that the gas business is going to go to a car and here would be a telephone box and that big red and concrete pad you see in parks that this would be like we used to have an old shed some people just went out bought some concrete for the Oracle patio you never really know to see someone will walk here tomorrow I'll show you what are the important concrete things are not important that we use but those are just some random think something lay down what is this this is that that typical water water box again it was just a fruit city to play of cover your water right in Texas a lot of states this is good we find a lot of moms and pops who they are very miserly not want to spend you know three dollars and do it the right way they can get away spending $2 to throw away so rather than buy the correct cover for this box you can just put a plank over I what do think it probably's with this idea yeah someone's gonna walk through this park someday they're gonna go right through that we're gonna break her nose there you see you for 50,000 bucks that's what that is if your insurance agent those stupid sees things like that they go to the same if the city goes through those seasons like that to go Sam but again the mountaintops but this is the kind of technique for do but what is this here no this is a storm shelter cities a lot of parks or windows a mobile home that don't do well in tornadoes so they tried to build shelters and love parts the shelters are more screwed up than the tomatoes are those are the shelter to think that if you go in those doors look in there you're going to see about foot of water and about abstinence that's what you'd about every storm shelter in America it's just the nature of the beast most of the shelters we have the first thing we do is shut it down so most operators do the the shelters like this little shelter here we've been part where you have a shelter like that for a hundred space park you have a hundred space park emitter finger got two to three hundred people right if you can get three people that will very quickly have anything to get that building 50 okay so you have the big tornado blow through 250 people can't get to the building and having a glow in Lakeville nothing happens the soup fast action lawsuit to some of us so basically in with carpenters today first thing you do is go check with the city and the state see if you have to have a shelter didn't check it out what is this most people lose we go that's not acceptable that this in a little part of business and then the park will be beautiful the affordable hasn't segment people don't have a lot of money so this may be fine this may be God making a routine repair to discard these people cannot afford to go to the firestone or somebody's there's no works out have to do it themselves so they're the ones who go out with all those those lots you see some auto parts and then they go back Jack it up to do if that car was like that for a day or two it would be okay with that looks like that for a month or two that is what we do is take a steel plate and if anyways you can do it one way so you never know in the park business when you when you get out of an amenity you never know what the next buyer didn't want that amenity and they're expensive to build right so you would want to take out a minute and some balance later crazy so you just seal them off like you can take a big steel plate put that over where the door is around the concrete in just patiently you know put that into the copy so that no one ever again just like a while all those snakes and think they're all in there just know created the whatever else you don't need to care just one steel at all if the next owner wanted it reopen it you just take it still played off of you you do it we've actually taken for example laundry buildings we better tackle on the door shut so it's impossible to get in but yet you could go up great the well if you want it to reopen so that's what okay what what is this a fish right that's my waterline this is what this is what corrosion will do a lot of lines over decades most of these parts are built with galvanized metal lines so they all have a little bit of this going on in every part of America pretty much it's not a big issue to be honest with you because thankfully waters are dangerous so it's a whole different story that's gas like let's say this is a gas line I've had passed once like this as a problem and that will explode filthy water all it's going to do to greener grass and have your trees what you're willing to pay for so a lot of type of partners do that they will all have some on the corrosion in the line but they don't really deal with it because the price gets too high for what's being lost that's not what makes people do things we have I have never data's plan here type of one time apart the PBC I've never had to replant part of that parts of look I just like this unit just doing segments of it over time we'll do one hundred foot section into PVC and then you'll stop and maybe you later due to their section maybe do one for several years but the corrosion is not a big deal except to gas the gas it's a huge deal yes today we're in the park almost ten years Dave and I have both since I guess we're identical cars and dogs that were the elves we've also had a head dealer cycle through parts of the rate of about every eight seven e ght years probably what happens will die apart and we're really good by that's a pendant up and then fix it out and season them somewhere over its lifecycle we would get an offer to sell it a huge profit on the solid do together there there are people out there you whole parts before ever and then probably have it forever is almost every asset has a peak there what it is there is one moment when you should have sold between then and they think I'm never gonna sell so the people call you up with aqua juice I don't I'm not to itself you think that's that's probably crazy because every look should sell at the peak if your endowment where there's a park called Spring Creek little apartment how we sell five between Dallas at the beginning like their their peak moment was back was a these guys wanted to tear down redevelopment giant shopping center there they should have sold it was worth that was the best time ever so far problem was that and many of the people who loved it thought they should sell that partners soul that had 30 different owners it because as people died they left it to their kids and the 30 foot beside so they didn't sell out part today is we're coming half and what it was so they dish yourself and does this this this work this is the case of a guy trying to move a mobile home to about a 10 to 20 thousand pound object with a piece of art committee we've we had this happen about the once a year rose that always has the same ending you can actually pull that mobile home with that submergence straight long as its flattened can give straight it home for a really long time but when you turn roll them that's what happens don't even that it's no way handle the forces on that we can turn it so that that's what happens so what happened is that guy will go out you know one of the driveway straight will get run out of the park and it will take a ride home so it cost around three thousand dollars it's beautiful today in the US this one has parts of the industry that we have definitely penalty and the way you have to do is to get through the license mover but and they have a special total pump tonight it would seem to hurt rock Christ was trying to hydraulic niche so that that's a big difference isn't the suburban band began in may be toted drivers doesn't have the time mechanics yes this one would depend on where you are if you're gonna clean it we send it back up and the stairs of the ACS if you're probably closer to 5 I mean Todd is the president of our management companies here at the lectures was Todd back there we have a minute there Todd we got Brandon right there in the orange shirt Todd what do you think it would cost to move home from point A to B I applied with a question every place is different so how far you're going and what the requirements are in the state of you