Welcome back to The MHP Expert blog! Today, we have another installment of our list of things that MHP investors should look out for. Today’s subject, conversation tips. On the previous article, we discussed some easy options that produce instant results. While they may not lead to a deal being closed on the spot, they’re a great intro for the process.
That said, today we’ll be breaking some more of the nitty gritty details when it comes to MHP investing. We’ll discuss what it really means to put boots to the ground as a park investor. Below are some hands on steps to help get you aligned!
Listing Boards Or Word Of Mouth?
Last time we discussed some pretty great online resources for investors. The MHP Store, Crexi, Loopnet, and Costar were the top most reputable resources noted. As a reminder, The MHP store is by and large more owner driven. The others tend to be more flat out listing boards with most posts coming from brokers.
That said, there is no substitute for an old fashioned conversation. Getting some face to face time with a broker or owner can be more valuable than any web link, especially if your interests align.
The Point Of A Broker
Let’s talk about brokers for a moment. The brokerage community can be a huge help to both buyers and sellers. For buyers, they can assist in evaluating a park of interest. They can also point you in the direction of active, exclusive listings in their network and off-market deals, also called pocket listings – these typically are not publicly marketed so there may be less competition on them.
Sellers, on the other hand, can expect an accurate and fair opinion of value, which is more than necessary! As a broker, I’m happy to answer questions or assuage any uncertainty you may have about the community. And the lengths do not stop there!
Knowing The Park’s Location
If you’re investing in a specific area, it pays to know its ins and outs. This includes the surrounding areas socioeconomic demographics, as well as other key factors. Above all, you’ll want to know how it looks! This can be a problem, though, if your park of interest is currently out of reach.
Imagine a resource where you could view these areas at a moment’s notice from the convenience of your laptop or phone! With Google Earth, you can do just that! First, you discover the parks, then you find their owner’s contact info, and let the convo go from there!
Working With The MHP Expert
Of each of the options, this if often where a buyer is going to get their best deal. That’s not to say brokerage deals don’t come with their own benefits, though. In fact, they’re often better underwritten for everybody, though they tend to be a bit pricier.
Still, you can’t beat the coverage of a credentialed broker. The MHP Expert is the perfect example of a partner that won’t let you down! Have more questions about conversation tips for the MHP industry? Don’t hesitate to reach out to us today! We look forward to hearing from you!