Prepared for lenders, CDCs, and federal agencies to SBA SOP 50 10 8, USDA RD Instruction 5001, and conventional underwriting standards. Fiduciary duty runs to the lender and the agency, never the borrower. More than 4,000 studies since 1998 covering $40.2 billion in evaluated project value.
Manufactured-housing feasibility is affordable-housing demand under land-lease economics: the income-qualified household base the format serves, lot-rent comparables and the asset class's demonstrated rent durability, infill versus expansion economics on existing communities, and the regulatory environment governing new-community entitlement — frequently the binding constraint, stated plainly where it is.
Methodology uses income-band demographics, lot-rent and occupancy surveys, state titling and community regulations review, and infrastructure budgets for expansion or new development. Coverage is tested on conservative lot absorption.
Every Wert-Berater financial model is fully linked with no hardcoded values, so any reviewer can stress any input. Deliverables comprise a complete narrative report and the linked Excel model, with ten-year pro forma, sensitivity analysis at ±5, 10, and 15 percent, interest-rate stress from +0.5 to +3.0 percent, and ratio analysis benchmarked against RMA and IBISWorld data.
SBA engagements are prepared to SOP 50 10 8, including its debt-service-coverage minimums of 1.15x operating and 1.00x global. USDA engagements follow RD Staff Instruction 5001 across the Business & Industry, Community Facilities, REAP, and Value-Added Producer Grant programs. Conventional engagements are built to the lender's stated coverage standard, typically 1.20x. Land development engagements are conventionally financed in most cases, with the study built to acquisition-and-development underwriting standards — absorption, release prices, and lender exposure through the takedown schedule — and SBA or USDA program screens applied where an owner-occupied or rural end use is contemplated.
The firm's land-lease analysis spans manufactured housing and RV community formats, applying the occupancy and rate discipline of its outdoor-hospitality record. Independence is non-negotiable: determinations follow the evidence and are not revised under pressure, and studies are built to pass lender, agency, and third-party review without exception items.
Qualify a project. Tell us about the project and the program. We will tell you the truth about it — scope, timeline, and fee confirmed before work begins.
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