Lets review how to find a mobile home park.
So, you decided to take the plunge and invest in a mobile home park. Now, all you need to do is find one that’s right for you. Here’s where it gets tricky.
Mobile home parks are highly localized investments and finding accurate data on them isn’t easy. When you do find a motivated seller, it’s likely that the property will not be in great shape. So what is one to do?
Well fortunately, there are several options when it comes to finding the perfect mobile home park. Here are a few that are recommended.
Web sites like MobileHomeParkStore and LoopNet have between 1000 and 2000 mobile home listings at any given time. You can search these platforms to try find a property that is suited to your needs.
When a property fails to sell at foreclosure, it is typically auctioned off at an REO auction. This is a great way to get a good deal on real estate.
You can find mobile home parks that are being auctioned off on sites like Auction.com and Ebay.com.
A broker may be able to help you find a mobile home park, but you may be better up calling up different agents to see if they have pocket listings available. Pocket listings are for parks that are not on the market and they tend to be the best deals out there. Agents will only disclose them to people they consider to be qualified buyers.
You may have to call several agents to find out about the pocket deals they have available, but it will be worth it. What’s more, you may strike gold. Some agents can be sitting on as many as a dozen pocket deals at a time.
Reach Out Directly to Owners
Many mobile home parks are owned by mom and pop operations. In these instances, it’s easy to get in touch with the owner directly to ask them if they are interested in selling.
There are many ways you can do this. You can compile a list of phone numbers and work your way through until you find someone willing to sell. A more efficient method is to send out postcards asking these owners to get in touch if they are interested in selling.
For a more personal approach, you can pay owners a visit to see if they are selling. However, while the personal touch might pay off, dropping by several locations can be very time consuming.
Mobile home parks are not as easy to find as other types of real estate, but they yield high returns that make them well worth the extra effort. What method do you prefer on your mobile home park hunting adventures?
Interested in selling your mobile home park? Contact Us Today!