Welcome to the latest episode of The Mobile Home Expert Podcast. Jay and Glenn are back. Today, the duo are discussing some key tips to locating quality mobile home parks. Glenn opens the podcast with a bit of good news in the way of a new sale. “We just closed a really nice 400-space portfolio today.” Glenn describes this process as quick and smooth. His relationship with the client in question dates far back. “It was a real fun transaction.”
There are several different scenarios that the MHP industry offers. Not all are of the same quality. You have to know where to look, what questions to ask, and so much more. “There’s posting sites… social media sites… Linked In… Standard Listing Boards,” and so much more. He also references LoopNet, an older, but still effective resource. There are also a number of forums you can search through that are available on the web. Still, none of these should be your first choice. Read on for more info.
The Best Ways To Find Good Parks
The first step to finding good parks is building a good relationship with your broker. Glenn stresses this as a key strategy for success. This can pay off in several ways. This helps them to”understand your buying capacity and needs.” This also can help make you a priority as you’re in their recent memory. When new deals come up, you’re more likely to get a quicker heads up.
Also, like in any other business, it doesn’t hurt to have a resource on that side of the industry. This can present you with information that may not be available to the average buyer. It can also help bridge gaps that may otherwise be difficult to reach. As Jason puts it, “you’ve got to go to the person who has the contacts.”
A Good Broker Goes A Long Way
You also have to consider what is the most effective use of your time. If you’re new to the industry and don’t yet understand it’s nuances, it can be a tough road. You may find yourself wasting countless hours researching dead end leads. Without the education, it can be a cumbersome process, to say the least. This is where partnering with a credentialed broker helps a great deal. You get subject matter insight that maximizes your time and returns.
“You’re paying for the expertise,” Jason points out. He also acknowledges how Glenn and brokers like him only get commission when buyers get paid. It’s a good show of faith, and proves that your broker is also willing to put skin in the game. It’s not some up-sale, there are some really good brokers out there. That’s not to say there aren’t any issues to look out for. But the good ones are transparent, ethical, and invested in your success. As Glenn notes, their reputation is everything to them.
The Mobile Home Expert
For more mobile home park tips, listen to the podcast above! If you have any further questions, feel free to reach out to us today!
