Foote Real Estate
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News

Rolled up newspaper with Company News on it. All text created by photographer. Concept for NEWS section of website.

2024

  • August 6, 2024 Butternut MHP & Liberty Acres MHP were sold.  A cost segregation study was completed for Margaretta MHP as a tax shelter for the Butternut & Liberty sales.
  • August 19, 2024 Carter started working full time maintenance for Foote Property Management LLC
  • Parkview MHP, D-town Mini Storage, and 434 N. Main St. are actively for sale
  • Four park owned homes were sold at Footie’s MHP this year.  Each of the remaining 14 park owned homes will be sold when the residents vacate.
  • Margaretta MHP:  All park owned homes were sold.  Residents are now paying for their sewer and trash usage.  Twenty mobile home permits have been granted to fill each vacant lot.  Eleven vacant lots were filled with brand new homes.  Nine have been sold.  All garages have been rented.  An agreement has been reached with York Water Company to connect to their public sewer.  We expect the connection to be made in the summer of 2025.  Capital repairs include approximately $80,000 of tree removal.  A cost segregation study for Margaretta MHP was completed and will be used as a tax shelter for the Butternut MHP & Liberty MHP sales.

2023

  • October 17, 2023 Foote Property Management LLC hired Derek Shaull.  Cody’s best friend.  We look forward to a long term partnership with Derek!!
  • October 13, 2023 we purchased Margaretta Mobile Home Park.  We look forward to achieving market lot rents, billing back for sewer and trash, filling 20 empty lots, renting various garages / storage buildings, and connecting to York Water Company’s public sewer.  This purchase brings our unit count to 446 across 10 properties.
  • July 19, 2023 we placed Margaretta Mobile Home Park under contract, a 91 unit mobile home park located in York County, PA.  85 mobile home lots, 1 farmhouse, and 5 garage rentals.  Lot rents are currently 50% below market, only 7 park owned homes, 20 vacant lots, direct billed public water, and the potential for direct billed public sewer.  We anticipate closing in October.

2022

  • November 1, 2022 we celebrated our 20th year in business.
  • April 22, 2022 our office moved to 2678 Mt. Rose Ave. York, PA.
  • April 2022 D-town Mini Storage roads were blacktopped
  • February 15, 2022 work began fitting out our new office space located at 2678 Mount Rose Avenue York, PA, also known as “The White House”.  Our new office is located conveniently next to Heritage Hills Golf Resort which is a center location for our York Pennsylvania properties.
  • $5.75 million was secured in collateralized credit lines from our refinance efforts that started March 2020.  Our intended use is to purchase properties utilizing cash or use as a down payment for a larger property.
  • Nine park owned homes were sold at Footie’s MHP this year
  • Six storage units were added to Dtown Mini Storage bringing our unit count to 355.

2021

  • November 10, 2021 we purchased D-town Mini Storage.  We plan to implement several operational improvements such as e-signature rental agreements, door access automation,  and rent collection automation via epay on the first day of each month.  Capital improvements include blacktopping the stone drive / parking areas in front.  Evaluating / achieving market rents will begin in the near future.  Our unit count went to 349 across 9 properties with this purchase.
  • September 24, 2021 we placed D-town Mini Storage under contract, a 174 unit self storage facility in Dallastown, PA.  This property is nearly 100% occupied, currently operating with below market rents, and in a great location.  We anticipate a November 2021 closing.
  • May 12, 2021 Liberty Acres MHP entrance freshly blacktopped. Pictures one and two.
  • May 7, 2021 rehab started on the third townhome we purchased in December 2020.  We rehabbed and rented the first two units bringing rents from $800 (rent at purchase) to $1250 and $1300.  Due to high demand we anticipate $1350+ rents for the remaining units.  Before pictures one, two.  After pictures one, two.
  • February 2021 a new sewer main and 22 laterals were installed at Footie’s MHP.  The existing main line started to fail last year.  We plan to replace the main and laterals on the other side of the park within the next year or two.  Pictures one, two, three.
  • Twelve park owned homes were sold at Footie’s MHP this year.

2020

  • November 18, 2020 Parkview MHP Lot 19 home arrived onsite from the manufacturer.  Home setup is complete and sale ready as of December 4.
  • November 5, 2020 our team sold the 1st of 41 park owned homes in Footie’s MHP and established a $595 monthly lot rent.   Our goal is to sell all 41 homes in 2 -3 years.  Once sold, we will no longer own any mobile homes across our mhp portfolio of 139 lots.
  • June 9, 2020 Carter had his first official day of work for Foote Property Management LLC ! Carter is 14 years old and spent the day building shop shelves at the Davidsburg Rd. property :).  Pictures one, two, three, four.
  • May 14, 2020 we purchased Butternut Mobile Home Park in Warren, PA.  Butternut MHP is 35 lots.  Our unit count went to 169 with this purchase.
  • March 13, 2020 the Coronavirus (COVID-19) pandemic literally shut down our country.  We are extremely pleased to report our business has weathered the storm in an almost uninterrupted fashion.  Our office staff is working from home and our property maintenance staff has been able to continue working while taking all the necessary precautions.
  • March 6, 2020 our company engaged in a refinance project with multiple properties.  The end goal is lower interest rates, increased cash flow, and access to credit lines.
  • February 18, 2020 we placed a 35 lot mobile home park (Butternut MHP) under contract in Northwestern PA.  The park is 97% occupied with no park owned homes, public water and sewer, direct billed water from the city, and the city owns the water and sewer lines.  We anticipate an April or May 2020 closing.
  • February 7, 2020 Steve became a licensed HUD Manufactured Home Installer under our Foote Home Sales LLC company.  This license will save our company time and money with each new home installation.
  • February 1, 2020 Steve joined a real estate syndication mentoring group in Lancaster, PA.

2019

  • November 1, 2019 we began water and trash bill backs at Footie’s MHP.  Our Metron water meters coupled with Metron’s integration with our property management software, Rent Manager, have made bill backs a seamless task.
  • September 23, 2019 lot 19 at Parkview MHP was demo’d.  Check out the demo video on our Facebook Page.
  • July 31, 2019 Parkview MHP Lot 28 home arrived onsite.  August 28 setup was complete and the home was listed for sale.  Pictures one, two, three..  Check out the complete setup video on our Facebook Page.
  • April 4, 2019 Foote Home Sales LLC received it’s zoning and building permit to install a mobile home on Lot 28 at Parkview MHP.  Piers were installed on May 7 and the home is due to arrive by mid June.  Pictures one , two.
  • February 1, 2019 S.R.F. Enterprises LLC converted a company garage space into a storage rental unit at Liberty Acres MHP bringing our total unit count to 134.

2018

  • November 20, 2018 a photo book of our company’s history was made.  It starts at the very beginning in 2002 and runs until November 2018.  Click here to take a look!
  • October 10, 2018 the Parkview MHP Lot 41 home arrived onsite. Pictures: one , two, three..
  • September 24, 2018 was 401k enrollment day.  Foote Property Management LLC is excited to be offering a retirement service (401k w/ a match) for our team and all future team members.
  • August 14, 2018 Foote Home Sales LLC began the process of filling vacant lots at Parkview MHP.  A zoning and building permit was received on 8/29/18 for lot 41 and a new home is due to arrive onsite 10/8/18.  This home is being direct shipped from the manufacture in White Pines, Tennessee.
  • August 1, 2018 Foote Home Sales LLC completed the order, setup, and sale of a new mobile home located at Lot 17 in Liberty Acres MHP.  Liberty Acres is now 100% occupied. Pictures one and two.
  • June 26, 2018 an entrance package was added to Footie’s MHP (formerly Reisinger’s MHP).  A new sign, split rail white plastic fencing, and two Imperial II Gama Sonic solar light posts.  Big thanks to our maintenance manager for completing the project and making it look great!  Before and after pictures one, two, and three.
  • June 18, 2018 Cody Godfrey joined our team.  We are super excited to have Cody and looking forward to growing our company with him.  He will focus on building our deal flow and also be an assistant property manager.  With Cody on-board, we feel like we are in a great position to double our unit count within the next year.  Cody recently graduated from Lock Haven University with a business management degree.  In his spare time, Cody enjoys competing and winning(!) Classic Physique competitions.
  • March 5, 2018 Foote Property Management LLC created a new position for a full time employee.  We are looking forward to hiring someone who specializes in building our mobile home park deal flow and also acts as an assistant property manager / leasing agent.
  • On February 23, 2018 we completed the installation of 77 Metron Farnier smart water meters at Parkview MHP and Reisinger’s MHP.  We will begin to bill back our residents for their water/sewer usage in May.  Our residents will have access to an online portal called WaterScope which enables them to view their daily water usage and will alert them of any water leaks they may have.
  • January 31, 2018 we moved into and began working out of our new office.  Here are some office pics: one , two, three, four, five
  • Foote Property Management LLC began offering group health insurance, 401k w/ a match, paid holidays, paid time off, and life insurance to its’ team members in an effort to retain and attract great people as our company grows.  We’ve also contracted PayChex to help us learn and implement better Human Resource services and solutions.

2017

  • On December 6, 2017 S.R.F. Enterprises LLC placed an order for 38 smart water meters made by MetronFarnier.  Metron’s smart meters are a next generation water meter that have the ability to detect and notify us (through the Verizon Wireless network) of any water leaks within one hour of the leak starting.  These meters will be installed at Parkview Mobile Home Park.
  • November 1, 2017 marks our 15th year in business
  • On June 13, 2017 our first new home from Clayton arrived onsite at Liberty Acres MHP lot 2, Grove City PA.  This home was shipped from Clayton’s TRU Homes manufacturing facility in White Pines, Tennessee.  Pictures 1, 2, 3.  A local Certified Mobile Home Installer will be completing the home installation.  This home will be sold through Clayton’s CASH program to a future Liberty Acres MHP resident.  We plan to bring in 6 more homes to fill each of the vacant lots in our portfolio and one lot in which we will tear down a home and replace with new.
  • During April and May 2017 major road repairs were completed at Reisinger’s MHP.  Pictures 1, 2, 3, 4
  • On January 25, 2017 Foote Home Sales, LLC placed its first order for two 14 x 76 Foreman Homes made by TRUmh (A brand of Clayton Homes) to be installed at Liberty Acres MHP in Grove City, PA.  This order will fill lots 2 and 17 making Liberty Acres 100% physically occupied with homes.   These homes are scheduled to arrive onsite in April.  After the setup is complete the homes will be sold to prospective Liberty Acres residents, most likely through 21st Mortgage Corporation’s CASH Program.
  • Rent Manager’s RmVoIP phone system was implemented as a property management feature.  Our new phone system is fully integrated into our property management software and allows us to save time with each call.

2016

  • On November 7, 2016 Foote Home Sales, LLC received a Pennsylvania Vehicle Dealer License and has a franchise agreement in place to work with Clayton homes.  Foote Homes Sales LLC, Clayton Homes, and 21st Mortgage Corporation will be working together to fill our empty lots with new homes.  Clayton Homes and 21st Mortgage Corporation are Berkshire Hathaway subsidiary companies focused on the mobile home industry.
  • October 7-9, 2016 our team attended the 3 day Mobile Home Park Investors Boot Camp in Las Vegas taught by Frank Rolfe and Dave Reynolds.  Frank and Dave own 230+ parks / 20,000+ lots throughout the United States.  The boot camp covered buying, operating, and selling mobile home parks.  Boot camp class picture.
  • On September 14, 2016 we broke ground for our new company home office in York County PA.  Construction should be complete by summer 2017.  Our new office will offer more space as our company grows.
  • On August 19, 2016 Foote Home Sales, LLC received a conditional approval for the Communities Affordable Speculative Home Program (CASH Program) with 21st Mortgage Corporation.  Our approval was contingent on receiving a Pennsylvania Vehicle Dealer License.
  • On August 15, 2016 Foote Property Management, LLC was formed to strengthen company structure moving ahead.
  • On August 3, 2016 Foote Homes Sales, LLC was formed.   Foote Home Sales, LLC will be working to fill our vacant mobile home park lots.
  • On March 15, 2016 Liberty Acres and Parkview Mobile Home Parks were purchased in Grove City, PA.  Liberty Acres is a 22 lot park and Parkview is 38 lots.  Liberty Acres was 100% occupied at the time of purchase and Parkview had 4 vacant lots.  This was the first property purchased outside of the York PA area.  Our unit count went to 133 with this purchase.

2015

  • On September 29, 2015 our company signed a six month contract to work with Trevor McGregor.  Trevor is a high performance business coach with the Tony Robbins Group.
  • On January 13, 2015 our company website went live (www.foote-realestate.com)
  • Apptoto was implemented as a resident feature and iContact was implemented to assist in building deal flow

2014

  • On December 12, 2014 Steve became a licensed Pennsylvania Real Estate Broker.
  • During May 2014 a used 14 x 52 ft mobile home was purchased and brought into Reisinger’s MHP to fill Lot C-11.  With lot C-11 filled, Reisinger’s MHP became 100% physically occupied with homes.  This home was rented shortly after it was installed.  Before / After pics..
  • January 2014 Brittani Snyder became our Property Manager

2013

  • On August 20, 2013 Reisinger’s Mobile Home Park was purchased.  This was the first mobile home park purchased after being in the real estate business since 2002.   Reisinger’s is a 44 lot park with public water/sewer located in Dover, PA.  At the time of purchase 43 lots were occupied.  This purchase enabled our company to utilize a full time maintenance contractor and full time property manager.  With this purchase our unit count went from 37 to 81.  Moving ahead our main company focus will be purchasing mobile home parks.   The meaning of cap rate, the importance of achieving market rent for valuation and refinancing purposes, and forcing equity rather then relying on the market as a whole was learned this year from this property.
  • On July 24, 2013 a maintenance management agreement was put in place with a contractor to handle all of our maintenance needs.
  • On June 28, 2013 the name of 35 West Broad St. LLC changed to Footie’s LLC

2012

  • November 1, 2012 marks Foote Real Estate’s 10th year in business
  • Learning how to acquire and manage a larger property was the new goal.

2011

  • On January 1, 2011 Rent Manager Online was implemented as our property management software.

2010

  • On August 17, 2010 130 N. Charles St. Red Lion, PA was purchased.  A 9 unit apartment building (7 apartments / 2 garages).  This property was initially turned into 14 room rentals, 2 apartments, 2 garages, and coin operated laundry room.  As time went on the room rentals were eliminated and re-rented as apartments.

2009

  • On December 10, 2009 17 Vickilee Dr, Wrightsville PA was purchased.  Our home office was now at this location.
  • On April 8, 2009 35 W. Broad St., Yoe PA  was purchased with 100% seller financing. This was a single family home, garage, and storage space rental.
  • On March 6, 2009 35 West Broad Street LLC was formed

2008

  • On October 1, 2008 55 E. Pennsylvania Ave. Yoe PA was purchased.  A three unit apartment building (2 apartments / 1 garage)   This property was renovated into 7 room rentals, garage, and coin operated laundry.
  • On September 16th, 2008 J.C. Bar Properties, Inc placed 725 Lombard Rd. under contract to be purchased.  J.C. Bar desired to purchase the property and three surrounding properties to construct a CVS Pharmacy.   725 Lombard was under contract for nearly three years until it sold.
  • On July 1, 2008  723 Lombard Rd, Red Lion PA was leased then sublet.    This property was renovated and turned into 5 room rentals.  The garage was used as a rental and coin operated laundry was installed.
  • On February 8, 2008 725 Lombard Rd. Red Lion, PA was purchased.  This property was renovated into 5 room rentals, 2 storage spaces, garage, and coin operated laundry.
  • The real estate bubble crashed this year.   Home prices dropped dramatically and obtaining investment real estate loans became very difficult for self employed people.  The days of “No Doc” loans were gone..

2007

  • November 1, 2007 marks Foote Real Estate’s 5th year in business
  • During September 2007 the basement of 434 N. Main St. was finished.  This added 3 bedroom rentals, 1 bathroom, and coin operated laundry.  Here was the plan..  All three rooms were quickly rented.
  • During the summer of 2007 an add was placed in the newspaper for “Room for Rent” in an effort to rent out the unfinished basement of N. Main St.  The basement was quickly rented to a college student for $80 per week and a newly found demand for room rentals was discovered.
  • During July 2007 a 20 x 44 pole building was built for additional garage and parking rental income at 434 N. Main St.  Pictures 2, 3, and 4.

2006

  • At the same time N. Main St. was purchased, 1435 S. Duke St. and it’s detached 2 car garage became rental units.
  • On November 22, 2006 434 N. Main St. Red Lion PA was purchased on a sales agreement.  This property is located in a commercial zone and its current use was residential.  The plan was to move into the property and have a small car lot located onsite.  After moving in, the township denied the use of a car lot.

2005

  • On March 15, 2005 230 W. Maple St. York PA was sold.  This property was sold in an effort to liquidate all city properties.  The tenant base in this area became to management intensive.
  • On January 21, 2005 S.R.F. Enterprises LLC was formed.

2004

  • On October 22, 2004 237 E. Prospect St., York PA was sold.  This property was sold because of tenant problems and on going maintenance issues.
  • June 22, 2004 Steve became a licensed Pennsylvania Real Estate Sales Agent.

2003 

  • On October 10, 2003  237 E. Prospect St. York PA was purchased.  This was an old city row home purchased for $8,800.  The home already had a tenant at the time of purchase who paid somewhere around $480 per month.
  • At the same time S. Duke St was purchased, 2549 S. George St. Lot C-12 was put on a rent to own program and ultimately sold after three years.
  • On March 21, 2003 1431-35 S. Duke St. York PA was purchased.  A 3 unit property (2 homes / 1 garage).  1435 S. Duke became home while 1431 S. Duke became a rental home.  South Duke St. was refinanced twice over the next few years.  The equity was used as down payments for the next few rental properties.  Using equity to acquire more rental properties became our main company growth vehicle for the years to come.    At this time, real estate loans were easily acquired.  Rental properties could be bought with no documentation loans.  What this meant was as long as you had good credit and a 5% down payment the banks would give the loan.
  • On February 4, 2003  551 W. King St. York, PA was purchased.  A two unit apartment building.  This home had existing tenants in both units at the time of purchase.

2002

  • On October 15, 2002 230 West Maple St. York City, PA  was purchased.  This was a vacant 2 unit apartment building purchased for $29,000.  Steve’s parents lent $11,000 and a family friend (Jim) lent $18,000.  The loans had to be paid back in 5 weeks.  The plan was to purchase the property with cash then immediately go to the bank for an equity loan.  The plan worked and the banks actually lent $42,000.   This was enough to repay Steve’s parents and Jim and left money for down payments on the next two properties.  On November 1st Foote Real Estate was in business after collecting the first dollar.

2001

  • On March 30, 2001 2549 South George St. Lot C-12 York, PA was purchased for $7,600.  Lot C-12 is where our company’s real estate investing life started. The home office at this time was an 8 x 7 ft bedroom / office combo.