MHP #864: Manufactured Housing Lending Explained with Jerry Muir
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.9 • 675 Ratings
🗓️ 26 February 2025
⏱️ 38 minutes
🧾️ Download transcript
Summary
Today's episode is from Mobile Home Park #107 that originally aired on March 12, 2019.
Kevin Bupp speaks with manufactured housing finance expert Jerry Muir. He is Managing Director at Greystone working with the Agency Lending Team with a primary focus on building out and expanding their manufactured housing lending platform.
Jerry is a 25 year veteran of Fannie Mae and, during his time as Director of Multifamily Credit underwriting Fannie Mae, was responsible for a 12-state southeast region.
He had dual roles in developing and managing the manufactured housing community lending platform. Impressively, he has overseen north of 10 billion in financing.
Quotes:
"You might not have the prettiest homes in there but if it's a well-run community, it's stable, it's going to do well."
"Our manufactured housing community, because you've got so much stability because it costs so much for a resident to take his home and move it to another park (I mean it could be in excess of $7000), they're not just going to move down the road like in the multifamily property."
"If you've got a tier 2 loan on the property and you want to do a supplemental, you would get tier 2 pricing on the supplemental, basically."
"Their regulator, the FHFA, basically restricts the amount of business the two agencies can do and they call it cap or uncapped business. An uncapped business is they can do as many loans as they want in that space."
"They really open to more people and make it more affordable for them to get into a home and get into a park, no question about it.
"
Episode Topics:
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Developing MHC at Fannie Mae
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Differences of Fannie Mae and Freddie Mac
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Supplemental Loan Program explained
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Future outlook of Fannie Mae
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Detailed overview of Greystone in the MHC space
Recommended Resources:
- Accredited Investors, you’re invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club!
- If you’re a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.
- Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.
- Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.
Transcript
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| 0:00.0 | Hey guys, Kevin Bup here. Just wanted to make a quick announcement about our Wednesday Mobile Home Park show that you're about to listen to. |
| 0:06.4 | These Wednesday episodes are in collaboration with my other podcast, the Mobile Home Park Investing Podcast, many of which were recorded a few years ago. |
| 0:14.1 | I've carefully hand-selected only material that I feel is still relevant today, but there's a chance you might find references that could be outdated |
| 0:20.8 | at present, such as website URLs. Thanks for tuning in, and now on to the show. |
| 0:30.4 | Welcome to the podcast that will teach you how to successfully invest in and build steady streams |
| 0:36.0 | of passive income from the highly lucrative niche of mobile home park investing |
| 0:40.8 | Veteran real estate investors Kevin Bup and Charles D. Hart from Mobile Home Park Academy will personally share with you the valuable lessons they've learned along their journey as mobile home park investors |
| 0:51.5 | so that you too can learn how to build massive cash flow and huge profits |
| 0:56.8 | from this extremely lucrative niche. So without further ado, let's welcome your host for today's show, |
| 1:03.6 | Kevin Bup and Charles Dihart. Welcome guys and gals to the Mobile Home Park Investing Weekly |
| 1:09.7 | podcast. We'll provide all the information that you need to know to successfully locate, negotiate, close on, and make huge profits from the lucrum-in-insured mobile home park investing. I'm your host, Kevin Bup, and today's show we're going to be speaking with manufactured housing finance expert, Jerry Muir. Jerry holds the position of managing director at Greystone working with |
| 1:29.1 | the agency lending team. Now, prior to joining Graystone, Jerry was a 25-year veteran of Fannie Mae. |
| 1:35.4 | Jerry's primary focus as a part of the Greystone team will be on building out and expanding |
| 1:39.8 | their manufactured housing lending platform. Now, during Jerry's time as a director of multifamily |
| 1:45.1 | credit underwriting at Fannie Mae, he was responsible for a 12 state southeast region with a dual role |
| 1:51.0 | in having developed and managed the manufactured housing community lending platform. |
| 1:55.9 | Now, Jerry managed the MHC platform at Fannie for over 15 years, overseeing over 10 billion in financing |
| 2:02.4 | for this asset class. |
| 2:04.1 | Guys, so I'm very excited to have a candid conversation with Jerry about a variety of industry |
| 2:10.0 | related topics. |
| 2:11.2 | With that, guys, I'm excited to get on to the show with Jerry here. |
| 2:14.8 | So let's welcome Jerry Muir to the show. |
... |
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