[missypie]

So did anyone go to the Ben Stein show? How was it?

[keithwand]

Yes. Waste of 2.5 hours!
Basically an infomercial in investing in trailer parks.

[buggyone]

Fair and balanced, I'm sure.

[Villageswimmer]

Originally Posted by keithwand

Yes. Waste of 2.5 hours!
Basically an infomercial in investing in trailer parks.

What did tickets cost?

[Bigben007]

I agree 100%. Ben Stein was just a ploy to get people to attend the sales pitch for mobile homes.

[mjfg154]

I agree...about an infomercial for trailer parks. Plus Ben Stein didn't come on until 11am (started at 9) and he basically read his speech. It was a long morning with no breaks. General tickets were free and VIP tickets were $25, which went for a donation to Shoebox organization. That part of it was good.

[Hawss]

Bueller?... Bueller?... Bueller?

[Bavarian]

There was also a person from India who arrived in the USA at 20 years old with $9.00 he earned his doctorate, his father did also and his brother is a ship building engineer in Norway. He was very dynamic and moving. When Ben Stein was asked a question about Trailer Home Parks he said ask the one running the show, he did answer many important questions from the audience. Like if state pensions were safe, he said NY was. My wife and I were at afternoon show, paid tickets, got his book and photo with him. For those of us who know Ben Stein from his appearances on Cavuto on Business he was very good. Very open and friendly in the photo sessions, wanted to know where you wew from. People ahead of us went to Blair High School at same time he did, brought their year books. ignored the sales pitch. But have to go to Tricon Investments for a copy of the picture. They think retired people here don't know how to invest. If they didn't they would not be able to live in The Villages.
He is said to come back 30-31 Jan, but I think he will make a bit of an appearance then leave. I am not interest in new financial advisors.

[jane032657]

I asked the question about why mobile home parks are all being sold if they are a good investment. It was interesting because Ben Stein said why wouldn't they sell them off with all the trouble collecting rent and the issues people have who live in them. Then he caught himself because he has to remember who his client is and that is those who brought him in who are promoting the investment. Interesting to note that the speakers were not complementary about people in the country who need benefits and who have socio economic issues but they are making a 15% profit off of the mobile home parks where the people they take issue with live. Many mobile home parks are sold off to investors who build elaborate homes or strip malls and the residents get misplaced. So I was trying to ask how they are profitable when they are sold so regularly and never did quite get the answer I was looking for. I wondered if they are a good investment because when they do get sold you get a great return on your dollar from the developer who have told everyone to move out? So maybe the mobile home park is a good investment for when the people are told to leave the developer pays the big buck to the investors to take over the property? By the way, I used to operate affordable housing for people with intellectual development disabilities in Seattle and also was an advocate for keeping mobile home communities from being closed down for the sake of profit and to the detriment of the residents...

[manaboutown]

About 40 years ago I invested in a mobile home park. It had changed hands five times in six years, with each seller taking a junior debt position in order to unload. Thus there were six mortgages on it, all but the first at very low interest rates. Pure greed swayed me as it penciled out at a 30% return based on current rents.

Long story short: It was the very worst investment of my life!

It was out of date in that the spaces were too small to accommodate larger, newer units. It was in a picturesque but dangerous part of town. Hookers and drug dealers were operating out of it. Shootings occurred. There was no way I could do anything but dump it, which I was able to do, finally!

As with any investment it is vitally important to understand the business. I had owned apartments, rental houses and self storage units but I had not owned a mobile home park. Apples and oranges.

[buzzy]

I got two things from the afternoon session.

1. These guys have already bought 5 mobile home parks. So they are already in ahead of the people whom they are trying to attract. So it's a con game.

2. Since the guy let it slip out that one of the risk mitigants is government paid housing, the organization's cover is blown. They are not socially responsible, they are slum landlords.

And, Ben Stein should be ashamed of himself for using his fame to sucker Villagers to this investment ploy.

[graciegirl]

Originally Posted by jane032657

I asked the question about why mobile home parks are all being sold if they are a good investment. It was interesting because Ben Stein said why wouldn't they sell them off with all the trouble collecting rent and the issues people have who live in them. Then he caught himself because he has to remember who his client is and that is those who brought him in who are promoting the investment. Interesting to note that the speakers were not complementary about people in the country who need benefits and who have socio economic issues but they are making a 15% profit off of the mobile home parks where the people they take issue with live. Many mobile home parks are sold off to investors who build elaborate homes or strip malls and the residents get misplaced. So I was trying to ask how they are profitable when they are sold so regularly and never did quite get the answer I was looking for. I wondered if they are a good investment because when they do get sold you get a great return on your dollar from the developer who have told everyone to move out? So maybe the mobile home park is a good investment for when the people are told to leave the developer pays the big buck to the investors to take over the property? By the way, I used to operate affordable housing for people with intellectual development disabilities in Seattle and also was an advocate for keeping mobile home communities from being closed down for the sake of profit and to the detriment of the residents...

WHAT moblle home park are you all talking about?