Welcome back to the latest installment of our MHP tips for buyers. We’re happy to be your provider of quality suggestions when entering the space. This business is full of nuance and dynamic considerations. There’s no shortage to the amount of information you can arm yourself with going into a deal.
Previously, we’ve discussed MHP tips for online and brokerage options when it comes to buying. Today, we’ll discuss some more real world actions you can take to get your closer to your goal. For more blogs on the mobile home park industry, be sure to browse our endless resource list above!
Direct Contact With Sellers
Reaching out to sellers yourself to see if they’ll sell their park can yield some interesting results. It brings different degrees of success depending on your method. There once was a time that people would send out mailers to known owners, though that process is now a little antiquated. To put it simply, it outlived its efficiency.
As a broker, I’ve seen owners with mailers stacked by the hundreds. There’s too much competing for attention on a daily basis to hope this grabs it. Then of course there’s cold calling. This can be effective, but be sure to adjust expectations. You can bank on a thousand busts to one call that’s actually ready to close.
“Face Time”, not FaceTime!
As we’ve stated before, nothing beats face to face interactions. Eyeballs to eyeballs, mano y mano, as they say. This helps to eliminate a lot that’s gets lost in translation when communicating over the phone or through mail.
You’re able to gauge sincerity, and whether or not this is someone you actually want to do business with. We understand that each of these tasks can be daunting, and you may not possess the skillset yet to take them on. That’s where us brokers come in!
Brokerage Deals & Impromptu Park Visits?
Brokerage deals can be a great option for buyers. While not all firms are created equal, there are some ethical, credentialed ones you can depend on! Like us! I highly recommend looking at our team’s stuff. We have deals all across the spectrum of the industry. From deals valued at $300,000, to those well into the tens of millions. A shoe for every foot kind of team. Coast to coast, border to border, value-add to stabilized we likely have a deal for you.
Impromptu park visits can be a great option as well. If you’re in the area and know where one of interest is located, why not do a quick drive-by? Of course, you won’t get all the information you may be accustomed to in a planned meeting. But it may be a good opportunity to see the park as it operated normally with no lead time to prepare for a visit. It’s also appropriate to drop in and introduce yourself, just to get some of that owner face time we discussed earlier.
The MHP Expert
Have more questions regarding Mobile Home Parks? You’re in the right place! There isn’t a topic about the industry we haven’t at least touched on on our site. Feel free to reach out to us today with more inquiries if needed!