Investor Profile: Mirko "MJ" Vukovich, VP of Asset Management at Ascentia

Mirko Vukovich, known as “MJ”, says he wasn’t much of a dreamer as a kid but was more of a realist, which is the perfect mindset for a Vice President of Asset Management, especially for an enterprise with a growth rate like Ascentia, and for the future of a family enterprise that is fast becoming a legacy. But he didn’t gain automatic entry into his grandfather’s boardroom., rather he paid his dues the old fashioned way: going to college and earning income by renting out rooms in his mobile home to friends, going straight to work in real estate after graduation as an analyst of manufactured homes communities, moving to Portland to acquire downtown office and retail properties for another co

Investors Toolbox: DSCR

Depending on your strategy, the simple debt-service coverage ratio (DSCR) could be the straw that breaks the camel’s back when taking a hard look at the financials of a property. Defined: Debt-Service Coverage Ratio (DSCR) is a ratio between the net income of the property and its total debt service (principal plus interest) Key 1: When you think DSCR, think cash flow when: · Determining how much cash flow is available for paying the debt on a property (i.e. For current property) · Determining if another property can realistically manage the costs of its debt (i.e. Tax Deferred 1031 Exchange) · Determining how credit-worthy a lender would consider the property (i.e. Choosing a new acquisition

Dear Stephanie: Preserving Access to Manufactured Housing Act (H.R. 1779)

Dear Stephanie, I heard that in May 2013 the Manufactured Housing Institute published an article to urge U.S. Government House Representatives to introduce a bill regarding “Preserving of Access” to the Manufactured Housing Act. Do you have any further details about the article and what has happened since? - DiggingForDetails in Deluth Dear DiggingForDetails, Yes, there was a bill introduced by several house representatives entitled “Preserving Access to Manufactured Housing Act (H.R. 1779). The bill has not become law, but its purpose is to bring a remedy to a few provisions of the Dodd-Frank act by reducing regulatory burdens that impeded access to affordable manufactured housing finance.

1031 Exchange Guide, Part II: Using the 200% rule

The following is an excerpt from this quarter's 1031 Exchange Guide featured exclusively in our flagship publication, Mobile Quarterly. For a copy of the full issue, please contact mobilequarterly@mcanuffgroup.com or stephanie@mcanuffgroup.com. There are three ways, or rules, to acquire multiple or greater value “like-kind” properties with a 1031 exchange: (1) the Three Property Rule, (2) the 200% Rule, and (3) the 95% Exception. In this issue we will focus on the 200% Rule as well as what qualifies as “like-kind” according to the Internal Revenue Service. The 200% Rule, as defined by Investment Property Exchange Services, Inc. (1031IPX), allows “the Exchanger [to] identify as potential Rep

The Top 5 Pitfalls of Closing without Representation!

So, you're thinking about selling your mobile home park without *gasp* representation from a licensed broker! Beware of danger ahead. Here are the top 5 pitfalls you will likely face. Don't say I didn't warn you. 1. Single buyer is the only one offering to purchase the property and dictates the terms like you have zero negotiation leverage. Pitfall: Control is in the buyer’s court as there is no competitive pressure to perform so the buyer can dictate the terms. 2. Mobile homes are personal property, not real estate. Have you checked your contract with a fine toothed comb? Pitfall: Must ensure contracts are written to the specific needs of the park, and legal fees and time can be a barrier

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