About
Hello, I'm James Cook, and as associate with Rockford Realty Group I specialize in Manufactured Home Communities and RV Resorts, with an emphasis on the Florida market. I rank in the top 10th of 1% of all brokers in volume and feel that my success is due in part to a choice to specialize in the best asset class for stability and consistent growth, which has become a favorite of some of the most wealthy and successful groups in commercial real estate, Sam Zell, Northwestern Mutual, CalPERS, and more!
I pride myself in doing detailed underwriting of each property before I circulate the offerings, to avoid major misrepresentations when it comes to the income and expenses, and disappointments from both buyers and sellers.
During 2008 we sold almost 2,500 MH and RV pads, in 2009 we did an additional 670 pads, and rounded out 2010 with just under 1,000 sites closed. We maintain relationships with roughly 700 park owners here in Florida as well as a close working relationship with nearly 300 real buyers, allowing us to effectively handle any acquisition or displacement project of 75 pads.
Here is a classic example of the benefits of closely understanding our buyers needs as well as thoroughly researching the subject property and properly packaging and describing it: We recently sold a property that had been marketed nationally through the normal web sites (industry specific and general commercial) for months by another park broker. After reviewing the data, I reorganized it and emphasized the unique benefits of the deal, showed those to my private buyers list, and within approximately 30 days we were under contract on a property that had been on the market for almost 6 months, closing shortly thereafter.
An added benefit of my service is that virtually every deal is dictated in part by the financing market, so we have taken the time to catalog over 120 lenders and their specific interest in the industry. Having participated in the Mortgage Bankers Association meeting during 2011 in San Diego we were able to get a pulse of where lending was headed and who would be the new players on the scene. Basically we have a range of lenders from hard money and mezzanine sources for the exotic deals, to local and regional banks for the $1-5m range, and commercial banks, conduit and life company lenders for the $5-100m range. We can effectively source refinance or purchase money having directly coordinated $30m in funded lending during 2010.
