SECO: TV Meteorologist Gene Norman Discusses Weather Threats & SECO Power Networking

https://www.eventbrite.com/e/seco21-national-conference-of-manufactured-housing-community-owners-tickets-163400283647

Your $25 discount code (All caps): MHPIRL

https://traffic.libsyn.com/secure/archimedesgrp/S4E9_SECO_Gene_Norman.mp3

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MMW: The Freedom Myth

Stuck in Corporate America? Want financial freedom?

What if I told you you'll never truly be free?

And that cash flow isn't the path to that true freedom...

On this Mid Month Wisdom, I'll share some insight as to why money isn't the path to true freedom, and how you can find freedom (with the money to follow).

 https://traffic.libsyn.com/secure/archimedesgrp/MMW_Freedom_Myth.mp3

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Mentorship Program:

https://mobilehomeparkmentors.com/

Podcast:

http://www.archimedesgrp.com/podcast

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https://www.linkedin.com/in/ryan-narus-87293417/

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#MHP_IRL

Competing in Smarter Markets

If everyone overpays for properties, and you want in, how do you compete?

It turns out, markets have figured something out that allows them to "overpay".

Against my better judgement, I'm going to teach you on this episode how / why others overpay, and how you too, can NOT miss deals.

https://traffic.libsyn.com/secure/archimedesgrp/S4E8_Competing_In_Smarter_Markets.mp3

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Mentorship Program:

https://mobilehomeparkmentors.com/

Podcast:

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https://www.linkedin.com/in/ryan-narus-87293417/

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Website:

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#MHP_IRL

MMW: Property Manager Pitfalls

Inevitably, things will fall through the cracks.

What systems do you have in place to be sure your company continues to run smoothly?

There's more to it than you think, and it applies to more than just property management. For this Mid Month Wisdom, we'll take a dive into what you need to be thinking through as you scale your business.

#mhp_irl

https://traffic.libsyn.com/secure/archimedesgrp/MMW_Property_Manager_Pitfalls.mp3

Connect with us!

Mentorship Program:

https://mobilehomeparkmentors.com/

Podcast:

http://www.archimedesgrp.com/podcast

LinkedIn:

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https://www.linkedin.com/in/ryan-narus-87293417/

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#MHP_IRL

Due Diligence Nightmare

Editor’s Note: Welcome to the companion article to Episode 3 of the MHP_IRL podcast! The purpose of this article is to expand your podcast listening experience with additional content. Companion articles will unpack larger concepts that we talk about during each episode that will give you practical and most importantly, actionable advice that you can apply to your MHP investing journey. 

“I’m going to completely lose my shirt, what did I get myself into”

I stared up at the ceiling, and said it outloud into the darkness. My wife was fast asleep next to me, blissfully unaware of the panic that sat in my chest like a 1,000 pound anvil. Anxiety ate away at me and made sleep impossible. “She’s going to hate me, I’ve failed us” I thought nervously. Here I was, only on my second MHP deal, and I had to sit her down and explain that I’m about to lose all of our money. 

Ian and I had just spent the last few weeks  weaving our way through a massive water issue at our newly closed deal. At first, the water leak didn’t intimidate us. “Expect the unexpected!” we thought at the time, not realizing how naive we really were to the massively complex issue that would unfold before us. 

But here I was, I spent the day (and many days before that)  making phone call after phone call that all got me to the same conclusion..

You’re completely screwed. 

Even though nobody said it outright, I sensed exactly what they were thinking every time I spoke to someone else about the water repairs. “Sorry can’t help you, and boy I’m sure glad I’m not you guys right now!”...

It’s 2021 now, and at the time of writing this I’m more than 3 years removed from that terrible sleepless night. But writing these companion articles has given me a lot to reflect on from those early years. 

Allow me to set the scene for you...

Shortly after we closed on our second MHP deal, Ian and I realized that we had a water issue. We just didn’t realize at the time how BIG of an issue this was going to turn out to be. With every turn, the issue got worse and worse, and the repair bill seemed to grow exponentially with each new piece of information we discovered. 

Even though this was our second deal, it was really the first time that we were closing on a park without an experienced park owner on our team. We did everything right, checked every box on the due diligence list, but somehow, we missed something. And that something turned out to be a $100,000+ water system repair. 

To make matters worse, not a single plumber in the area wanted to touch our problem. It was too complicated, the blueprints for the original system were non-existent, and the system was a mess. 

I go into great detail about the water issue in this episode of the podcast, if you’re interested in learning just how bad it was (hint: it was really friggin bad). 

In this article, I share with you some of the takeaway lessons from our due diligence nightmare. 

1. Everything still turned out fine

Yes, the water issue was a struggle. Partly because the nature of the problem itself was extensive, but also partly because Ian and I were still so inexperienced at the time. It was only our second deal, and we hadn’t had enough experience as park owners yet to know how good deals can go bad. 

But, at the end of the day, the sky didn’t fall. And I am sitting here, from the comfort of perspective 3 years later, to tell you that I did NOT lose my shirt (nor do I lose a wink of sleep over the issue today). 

What I learned from being in the trenches on this nightmare is that every single problem that you encounter does have a solution.

Some problems require more time, energy, and sheer force of will than others. But there IS a solution somewhere along the line. 

If you learn to be absolutely relentless in your problem-solving and creativity you will always find a way to come out of a bad situation in one piece. 

Today, Ian and I are well aware that there’s a possibility that we’re missing something during our due diligence process, that there may be some unforeseen issue that arises.  But we are prepared for that eventuality, and we don’t let it stop us from closing deals and making money. 

1. Fear will hold you back more than anything else

The real estate market is full of competition, this is probably even more true today than when this episode was recorded in 2018. Understanding how to quickly and efficiently analyze deals has to be a skill you hone incredibly quickly in this industry. 

And once you’ve found that diamond in the rough, you’ve got to execute. Before a more fearless investor comes along and snaps up your opportunity. 

This situation taught me to walk hand in hand with fear daily as a business owner. To make it as familiar to me as my morning cup of coffee.

Because there is no such thing as overcoming fear, you simply learn to quiet the voice and trust your instincts. 

I am here to tell you today that any action that you don’t take because of fear is going to cost you so much more in lost profits than any mistake that you might make. 

In this industry it’s called analysis paralysis and it’s very real. Don’t let yourself get caught in the trap. You’re never going to have every bit of information you need to execute flawlessly. The more comfortable that you get with that unknown, the better off you are. 

Do your homework. Lean into the fear. Execute your decisions. 

1. Anything that can go wrong, will

Otherwise known as Murphy’s Law--there’s a reason that mathematicians tout this logic as sound, eventually everything can and will break down. It’s not a fact that we can hide from in life, and MHP investing is certainly no different. 

In your own investing journey, you will save yourself time, energy, and sleepless nights if you just accept this now to be true. And in my opinion, you can actually find some comfort in this statement as an investor. 

It means that no matter how prepared you are (or like in our case, how sound your due diligence is)  eventually, you’re going to run into problems. And it’s not a reflection on YOU. It doesn’t mean you’re a failure. What matters most  is how you handle the struggle. 

Are you able to keep your head about you? Examine every angle, and decide on a plan to fix your problem? 

If you can keep this perspective as you move throughout your investing journey, you’ll be better equipped to stop the panic when a situation arises. 

Remember investors, due diligence is a necessary process, but it is by no means a hard science. There is no way for you to see everything that can possibly go wrong on a deal. I encourage you to get out there, get in the trenches, and allow yourself to be banged up a bit. You’re going to learn so much more along the way, and take it from me, you’re going to come out okay!

Check out the MHP_IRL podcast for more stories about my personal investing journey with my company Archimedes Group.

Spousal Buy-In: Battle of the Sexes

Editor’s Note: Welcome to the companion article to Episode 2 of the MHP_IRL podcast! The purpose of this article is to expand your podcast listening experience with additional content. Companion articles will unpack larger concepts that we talk about during each episode that will give you practical and most importantly, actionable advice that you can apply to your MHP investing journey. 

“DREAM KILLER!”

I’ll never forget the look on Ryan’s face the first time he said this to me.

We were having a heated argument over the kitchen table. 

Ryan’s face was twisted in frustration, his finger was pointed at me accusingly --he was at the end of his rope. 

I wish I could say that this is the last time we ever fought like this, or even that it was the last time I was called a dream killer. Unfortunately for us, this was to be the first of many in a heated game of tug of war that we were about to enter. 

Let’s pause here for a moment….

It’s been 3 years since MHP_IRL Episode 2 aired, and a lot has changed in our lives, business, and marriage since those early days.  My name is Jennifer Narus and I’m Ryan’s wife. After dozens of episodes in the podcast’s three year history,  Episode 2 continues to be one of the most listened to episodes to-date. 

Why?

Because even on your own, entrepreneurship is a journey filled with risk and unforeseen pitfalls that is enough to make even the battle-hardened veterans take pause. The journey is riddled with missteps, miscommunications, and second-guesses. Now throw a marriage dynamic into the mix, and you just put the game difficulty on hard mode. 

The journey that Ryan and I have gone through together as entrepreneurs and as a married couple has been no walk in the park. But the struggles that we faced in those early years can’t just be boiled down to mobile home park investing. The struggles we faced in those early years had much more to do with our inability to communicate and listen to each other much more  than it had to do with our entrepreneurial journey. Mobile home investing served as the rope that we chose for this particular tug of war game. 

This article will give some perspective on those early years. I’m going to share some tips on how to grow well with your spouse in business and use it as a catalyst to strengthen your marriage. 

Now back to the scene at the kitchen table….

That day, Ryan had come home and confidently told me that we are completely changing the course of our plans and dumping all of our savings into trashy, run-down mobile home parks. 

I was livid. 

You see this wasn’t the plan. Ryan and I had the next 5 years of our life all mapped out, and becoming mobile home park investors was definitely not part of that plan. We’d already sacrificed so much to build our future life together.  Ryan had been finishing his MBA internship with Carnival Cruise lines in Miami, Florida while I stayed home in small town Winston-Salem. I was planning our wedding and waiting for the clock to run out on Ryan’s internship so we could start our real lives. 

Things were just about to come together for us, before we knew it we’d be married, Ryan would land a killer job, and we’d move into a nice house, in a nice neighborhood and start our lives together. 

THAT was the plan. The one that we had talked about and agreed on together. 

Then Ryan comes home like a tidal wave one day, breathlessly explaining what sounded to me like a scheme to completely lose our shirts. Ryan excitedly spouted off numbers and ROI calculations with the conviction of a prophet hyping up the Promised Land.To Ryan--a numbers driven guy--MHP investing was the perfect medium to achieve our American Dream. 

But the words floated around in my head like Ryan was speaking gibberish. “He’s got to be kidding me” I thought. Surely he was playing a prank on me after being apart from each other for so long. But as Ryan talked on, I could tell, he was dead serious. 

I wish this is the part where I could say that I quelled my anger and frustration, and instead chose to be the supportive wife. 

But I think you can guess by now that the exact opposite happened...

“FINE, just do whatever you want Ryan, not like you’re interested in my opinion anyway!” I blurted out. 

Seeing red.  I felt like the carefully constructed plans that we had created were falling apart right in front of my eyes and it was driving me crazy. 

Ryan looked like he had just been bitten by a snake. He was so excited to tell me his idea, he never stopped to consider that I would react this way. He lowered his voice, and calmly explained the business model again (in case I missed the obvious advantages to MHP investing that he was trying to show me). 

From Ryan’s point of view I was being irrational...

“Sure, this is a risk Jen, but can’t you see? This is going to change everything for us!”

In my mind it did change everything, for the worse. My dream of white picket fences, and a comfortable life in Suburbia faded before my eyes. Instead, what suddenly stood before me was a dilapidated trailer park riddled with cigarette butts and cars on cinder blocks. 

That night we each receded to our separate corners of the house and an icy silence settled over us. 

This is the part of the story where I wish I could say that we woke up the next morning, discussed our differences, and got 100% on the same page about MHP investing. 

But again, as you’ve guessed, things didn't turn out that way…...

The sense of betrayal that I had felt at that early decision completely closed me off to anything that Ryan said. I didn’t want to listen to his explanations, especially if he wasn’t willing to listen to me. 

Ryan couldn’t understand why I was letting my emotions get in the way of an amazing opportunity for us. “Okay, I’m sorry I didn’t tell you before, but I’m telling you now!” was a phrase I remember him repeating a lot back then. 

Ryan battled my resistance with sound logic, financial analysis and persuasive market research. I wanted to hear none of it, I wasn’t going to be sold on his idea, no matter how logical. I wanted my husband to look me in the eye for a moment and actually hear me, instead of being talked at.

But that validation never came for me… 

We had reached an impasse, trapped in a tug of war, both of our hands gripped firmly on the rope. Both of us dug in our heels, unwilling to concede ANY ground in this war. 

And this battle went on, for the better part of two years. Sure, things simmered down a bit. I resigned myself to the understanding that Ryan was going to do what he wanted anyway. And he figured that eventually, I’d see the error of my ways and realize that mobile home park investing was a profitable source of income for our family. 

Looking back, we could have avoided a lot of headache and frustration if we had just stopped for a moment and considered what the priority really was. 

Because what we learned in those two years, through many disagreements and tearful conversations, was that the priority should have been focused on winning together rather than beating each other in tug of war. As Ryan says “marriage is about disagreeing well and growing together”. 

For Ryan, winning together in this situation meant that he needed to put aside his analytical mind for a minute and understand where I was coming from. He needed to understand that my resistance to MHP investing had nothing to do with the numbers, but rather feeling like I had no control over the situation. Once he acknowledged this we were finally able to make some headway and move forward. Slowly but surely, my mind began to change about MHP investing.

For me, winning together meant that I needed to put aside my emotions and support my husband. It was no secret that Ryan was incredibly passionate about this venture-- his face lit up like a guy waiting for his prom date every time he talked about MHP’s. And I’ll admit, I felt jealous, because I couldn't see what was so great about this “other woman” that had suddenly entered our lives. 

My feelings of resentment clouded my ability to see that I was actually being a bit of a dream killer. 

Once, when the rage and frustration had really boiled over Ryan furiously blurted out, “if we went belly up and had to live in a dilapidated mobile home, you’re saying you wouldn’t love me anymore? What happened to “for better or worse”?

Ouch.

That comment hit me right in the chest. And forced me to look at what really mattered to me.

Did I want Ryan, and all his passion, struggles, and dreams for the future. Or did I just want a comfortable life with Ryan? 

The answer was obvious to me at that moment, I wanted Ryan. 

And from that moment on, my heart softened, and I changed the way I looked at MHP investing. And once I started to actually let myself feel Ryan’s excitement, it became infectious. 

My three biggest tips for married entrepreneurs:

1- Make sure you’re ready for the impact that will have on your life

It seems simple, but most people tend to get caught up thinking of how more money and freedom will change their lives. They forget to consider the impact that entrepreneurship can have on your closest personal relationships. 

Pro Tip: build a strong network of supportive people to share this journey with you. Invest in mentors and get involved in industry groups, somewhere that you can go to ask questions when you get stuck. Speak to your spouse often and commit to making critical decisions together. 

2- Be willing to risk it all

No one said that this would be easy. But if you both go into this with an “all-in” attitude you’re going to reap the rewards of your efforts multiplied. Just like the old saying goes “scared money don’t make money” 

3- Be patient

Be patient with your spouse, be patient with yourself, and most importantly be patient with the process. There are going to be times when you feel like your business isn’t moving fast enough.

Be patient. 

Give it everything you have.

And keep your eyes on the prize. 

Where are we now? 

By learning to integrate the principles I laid out above, and seriously working on our communication skills, Ryan and I were able to get through those nitty-gritty early years. If you had asked me three years ago where we’d be, I would have said probably stuck in some old trailer somewhere using pots and pans to catch leaks from the roof. 

But here we are three years later and I’m happy to say, we’ve made it.

Ryan and I now work together full time for our MHP investing company Archimedes Group. Ryan handles acquisitions and property management among other things, and I work in the back office on administration and bookkeeping. 

It hasn’t always been sunshine and roses, and we still have days that make us question our sanity. But the important thing is, we’re prepared to handle whatever comes our way because we’ve invested our time and energy into learning how to disagree well and grow together. And these days, we find ourselves entering the tug of war arena much less. 

MMW: Cash Flow or Appreciation?

Pick one: Cash Flow or Appreciation?

Well, both, right?

This exercise will push you to decide what you really want out of the space and help you realize chasing an in-place cap rate may be exactly what's causing you to plateau.

https://traffic.libsyn.com/secure/archimedesgrp/MMW_Cash_Flow_or_Appreciation.mp3 

Connect with us!

Mentorship Program:

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Podcast:

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LinkedIn:

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https://www.linkedin.com/in/ryan-narus-87293417/

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#MHP_IRL

MMW: Professional Athletes in MHPs

Our minds hate being bored. So, we create wartime problems even during peaceful moments. For this MMW, we'll take a dive into an example from the sports world to illustrate how your wartime mind could negatively affect your MHP business.

 https://archimedesgrp.libsyn.com/mmw-professional-athletes-in-mhps

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Mentorship Program:

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Podcast:

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LinkedIn:

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https://www.linkedin.com/in/ryan-narus-87293417/

Twitter:

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Facebook Group:

https://www.facebook.com/groups/MHPMastermind/

Website:

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#MHP_IRL

MHP Legal Risks

What legal risks do you not know you take on?

Join The Mobile Home Park Lawyer, Ferd, and I for an in depth discussion of legal ramifications and risks.

https://archimedesgrp.libsyn.com/mhp-legal-risks

Mentorship Program:

https://mobilehomeparkmentors.com/

Podcast:

http://www.archimedesgrp.com/podcast

LinkedIn:

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https://www.linkedin.com/in/ryan-narus-87293417/

Twitter:

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#MHP_IRL