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Slide 1

“ROC USA®  Capital is the only lender with whom I’ve dealt in 25 years in the business who understands the community business,” stated Marc Seigle, seller of the Champion Park to its homeowners in December of 2008.   

Let us tell you briefly how to sell your manufactured home community to the residents, effectively and efficiently.

Slide 2

ROC USA was built on 25 years of experience in overcoming the barriers to resident ownership.  One thing we’ve learned is that to serve our mission of making resident ownership possible, we must use a process that works for community sellers.  

When you consider selling to the homeowners, look for two things:  proven technical expertise and accessible financing.  

ROC USA provides both.

Slide 3

Let’s start with defining resident ownership.  We specifically help the homeowners form a resident corporation to buy the single-parcel manufactured home community.  

To do so, we align the two key resources:

First, expert technical assistance across the spectrum of issues they will face, including real estate, finance and organizational development.  

ROC USA Network is a national network of local non-profit organizations that provide quality technical assistance to resident corporations.  

Second, Network’s goal is to help the resident corporation secure the best available financing for its purchase of the community.  One source that is available to their community customers is ROC USA Capital.  

ROC USA Capital provides competitive low down-payment commercial financing specially developed for resident corporations.

Slide 4

ROC USA Network currently has eight Certified Technical Assistance Providers.  Each one is a local or regional non-profit organization that seeks to preserve affordable housing.  Network Technical Assistance Providers have successfully completed over 100 community transactions.

Slide 5

Network TA Providers currently serve 23 states.

Slide 6

Our professional and targeted approach is vitally important to our success with sellers and homeowners alike.  

We work in three distinct stages to close transactions:

First, we look for “for sale” communities, with interested sellers.  We then assess the economics and demographics.  If it is viable, we work out with the seller how we move to stage two.

Second, we present the opportunity to the homeowners as just that, “an opportunity.”  If they are interested (and most are), then we proceed.  If not, we inform you.
With a willing seller and a willing buyer, we move efficiently through financing, lender due diligence, and closing.  Start to closing in 100 to 150 days is routine.

Slide 7

Because we rely on social capital (that is, religious and foundation capital) for lending, the credit crunch is not affecting us as much as the commercial credit crunch is affecting others.  ROC USA Capital is making loans!  

ROC USA Capital makes 105 percent loan-to-value loans so all homeowners in a community can join the resident corporation easily.  The eventual outcome – high membership rates – is a medium-term goal that is not necessary at the start.  However, it is a vital goal because our mission is to support quality resident-owned communities and that means all homeowners ought to have access to membership, aligned ownership interests, and a vote.  (We do not promote “co-ops” where only those with large sums of money can become members.) 

Slide 8

Some communities make for better resident ownership candidates and are easier to transact.  Generally, the following make for successful and timely opportunities:   
–    Decent quality communities;
–    Owner-occupancy rates of 75 percent or more;
–    Permanent residences of more than 51 percent;
–    “Continued use” sales;
–    Single communities listed below $12mm or portfolios of less than
      $30mm, currently;
–    Homeowners are mostly medium- and long-term residents; and
–    Resident ownership has been successful in both family and age-restricted communities.

Slide 9

All communities are unique and even challenging communities have been successfully purchased by the homeowners.  It comes down the quality of the technical support they receive and financing to back them up.  ROC USA is ready to roll!  

Please call or email Paul Bradley to confidentially discuss your community.  We will tell you early on if we think it is a match. 

Call Paul directly at 603-856-0709.      
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