What’s up everyone, Chris Kelch here. I was in one of Ryan’s Legacy mentorship groups, and his mentorship was huge for me. I'm grateful that Michael and Ryan have launched this program. In 2022, I purchased three heavy value‑add mobile home park projects at roughly the same time. I'm only now getting to the other side of that push: back above water and set to close on a big refi for those deals in a couple of weeks. My original strategy was “all value‑add, all equity multiple” so I could stay bootstrapped. Looking back, I wouldn’t recommend that. The risk of total burnout and the whole thing coming apart is very real. So going into 2026, we’re pivoting: I’m taking Ryan’s advice and only taking on one major project at a time. That said, taking tired trailer parks and turning them into thriving manufactured housing communities has been extremely fulfilling. No words can describe how incredible it is to hand over keys to a resident who never thought they'd be able to afford a home. Being the first real landlord after a long line of slumlords. Actually giving a sh*t about a park and investing back into the community as opposed to sucking the life out of it. This industry is so rewarding if approached the right way. I'm looking forward to catching up with everyone here!

Looking at a park that has three POH but the seller does not have title to these homes. What are some things to consider, negotiate into the deal? -Ask seller to retain "ownership" and collect space rent until he can produce title? Have first right of refusal once title is obtained? Thanks- Jason

Please share what you have done (if anything) for compliance. Any info is appreciated. Thank you

The end of 2025 was busy, but incredibly educational. After working through the coursework and connecting with some great people, my business partner and I were introduced to a mobile home park owner who needed to sell due to broader financial challenges across his portfolio. The deal itself was complex. There were three lienholders on the property, with the third-position lienholder having the largest stake. Despite the logistical challenge of me being based in Denver and the property located in Lubbock, Texas, we met multiple times, including a few long lunches, to work through the numbers. Oftentimes, driving through the night to get there in time to meet for lunch. Initially, the deal looked solid: a $1,050,000 purchase price structured with 50% debt from a first-position lender and 50% seller financing. In reality, that “seller financing” came from the third-position lienholder, who agreed to defer payments for the first 18 months. We moved through due diligence smoothly, applying everything we had learned. However, new legal issues arose, including undisclosed liens and judgments, which ultimately caused the deal to fall through. We continued working through the challenges, speaking with multiple banks and even finding one willing to finance the deal with NO money down. Just as momentum returned, the first-position lender discovered three years of unpaid property taxes that he didn't know about. Shortly after that, he decided to foreclose. Even though we didn’t close, the experience was a win in many ways: - We gained confidence in presenting numbers and business plans to lenders. - Bankers and brokers recognized the depth of our due diligence. - We applied the coursework directly to a real opportunity. - Most importantly, it confirmed that the process works. Grateful for the lessons, the support, and the clarity this experience brought. A huge thank you to @Ryan Narus and @Michael Pansolini for building such a valuable platform, and wishing everyone a great start to the new year.

Please share the good, bad and ugly.