In this conversation, Joshua Kahr speaks with Sam Hales of SG Communities about mobile home parks and manufactured communities. They discuss the reasons why Sam got into mobile home parks, the challenges of finding product, the lack of new park development, and the perception problem associated with mobile home parks. They also touch on the financing and investor relations aspects of the business. Sam mentions that they are currently considering the future direction of Saratoga Group, whether to continue with syndication or explore other options. Sam Hales, CEO of Saratoga Group, discusses the mobile home park industry and the growth of his organization. He shares his focus on providing stability for residents and employees and building a career path for his team. Sam talks about the challenges of running a family business and the importance of having consistent rules for all employees. He also shares a surprising anecdote about a manager burning down a clubhouse on the morning of a closing. The conversation ends with a discussion about the current market and the increase in activity in the real estate industry.
Keywords mobile home parks, manufactured communities, product availability, new development, perception problem, financing, investor relations, syndication, mobile home parks, growth, stability, career path, family business, rules, surprising anecdote, market activity
Chapters 00:00 Introduction and Setting
02:30 Recession Resistance and Perception Problem
05:11 Zoning and Approvals for New Parks
07:06 Housing Crisis and Perception Problem
09:03 Changing Perception through Upgrades
11:41 Refinancing with Fannie Mae or Freddie Mac
14:11 Considerations for the Future of Saratoga Group
22:48 Surprising Anecdote: Manager Burns Down Clubhouse
31:04 Increased Market Activity in Real Estate
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