Dec 16, 2021
MHP Podcast Green Acres Deal Review with Eric Wanck
In this episode, we check in with The Mobile Home Park Broker Eric Wanck and one of his most recent successes. Eric was the broker who sold Green Acres Mobile Home Park in the Atlanta metro.
As always, this episode is hosted by Maxwell Baker, co-founder of The Mobile Home Park Broker, and brought to you by our proprietary Community Price Maximizer. With our four-step system, we guarantee you a higher price when you later sell your mobile home or RV community.
Here Are Some Show Highlights:
- Eric has had a very successful year, including the sale of two or three parks in the last 30 days alone. (Max, 0:22)
- The highly desirable Green Acres MHP was one of Eric’s most impressive recent sales. It’s known as a “trophy park,” one with more than 150 pads. In addition, the park contained mostly tenant-owned homes (TOH), which tend to be easier to sell. (Eric, 1:53)
- Eric had lined up five or six bids and had a buyer with a high 5 CAP bid in about 24 hours. (Eric, 1:53)
- Eric brought bidders, including the buyer, to the table from among investors he’d already established relationships with. The transaction reinforced the importance of sellers to connect with The MHP Broker on a regular basis so Eric remembers them when he comes across a deal he thinks would be ideal for them. (Eric, 3:39)
- One minor challenge for Eric was working with another broker as part of a connected land sale. Though representing the buyer, the broker was not experienced in the mobile home park industry, so wasn’t able to take the lead in due diligence--which would normally be the responsibility of the buyer’s broker. (Eric, 5:02)
- Eric and the company ended up with a happy seller and a buyer with whom they might do future business down the line. (Eric, 7:21)
Want to learn more about the process we take at The Mobile Home Park Broker in successfully representing both buyers and sellers? Just drop me a line at info@themhpbroker.com or give Eric or me a call at 678-932-0200.
Power Quotes From Max and Eric Wanck on This Episode
- “...dude, you’re killing it this year.” (In recognizing Eric’s results in 2021.)(Max, :22)
- “...within 24 hours we located a buyer at an amazing price.” (Eric, 1:53)
- “...every 30 days, send me a text, send me an email, call, whatever it might be, and check in with me, because a lot of times it's timing and if I know that you're qualified, you have funds available, and I come across this lead today and you happen to call me tomorrow you're going to see it and I've put together a lot of deals where it really was a matter of timing with some of these buyers and sellers.” (Eric, 3:39)
- “…we like to do business with people who like to do business with us.” (Max, 4:29)
- “I think the fact that we're able to move quick, get it wrapped up and move into due diligence helped us get this deal done.” (Eric, 5:02)
- “Whether we represent the buyer or seller, we’re gonna get it done.” (Eric, 5:02)
- “Telling your clients, the good, bad, the ugly, telling them if there's issues with the county, moving mobile homes into your park because of that, and not leaving that kind of stuff out, that’s the type of long term relationship stuff that we do as a company for you, as the buyer and s” (Max, 6:55)