Jul 14, 2022
In this brief Closing Cocktail episode of The MHP Broker’s Tips and Tricks podcast, Max Baker interviews MHP broker Ryan Ramseur on his recent close on FL 46-pad Mobile Home Park, an RV community between Tampa and Gainesville on Florida’s popular Gulf Coast.
Max is the co-founder of The MHP Broker. This and all of the Tips and Tricks podcast episodes are brought to you by our proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through us. Guaranteed. Ask us for details.
Here Are Show Highlights:
- Congratulations on Ryan’s very recently close on FL 46-pad Mobile Home Park, a small- to medium-size RV park on Florida’s Gulf Coast. (Max, 0:22)
- Ryan got the listing on a cold call to the park owner. The offer came in two days before the park was scheduled to be marketed by Ryan. The seller wanted to take the full price offer, with great terms, from someone he was already working with on another deal. (Ryan, 1:11)
- The park had a good mix of park-owned and tenant-owned homes, 90 percent occupancy and all public utilities. Rents are below market in a very beautiful area with manatee (and tourist) sightings. (Ryan, 1:11)
- Transactions that go that smoothly are rare, especially with small to medium mom-and-pop parks. Typically, the company doesn’t prefer parks to sell until they’ve done the marketing so the actual value can be established, but this happened organically. The seller was already doing business with this buyer, so it went quickly. (Max, 2:16)
- The way this deal came together illustrated the importance of buyers reaching out and staying in touch with brokers like Ryan if they’re looking for deals, because those deals can move very quickly. (Max, 2:16)
- Don’t send an email because all of the MHP brokers get hundreds of them daily. Instead, phone or text. Come with proof of funding, show your real estate investment portfolio and the financing you have lined up. (Max, 3:26)
- The only real challenge was that this deal was tied to another deal Ryan wasn’t involved in. That was kind of a unique situation. The park was offered at an 8.3 cap. They had recently sold another RV park nearby for a 6.5 cap, so they knew the price was right. (Ryan, 4:12)
- Ryan’s got a ton of other deals going on in Florida. The market there is extremely hot for RV and mobile home communities, so you have to contact him by phone at (678) 932-0200 if you’re looking to make a deal. (Max, 5:19)
Call Ryan or Max if you’d like to make a deal on hot-selling RV or mobile home communities in Florida or elsewhere in the southeast U.S. Call us up or text us at (678) 932-0200.
Power Quotes on This Episode:
“They were below market rates…definitely a value-add potential for any new owner coming in.” (Ryan, 1:11)
“Things went very smoothly from start to finish, and quite frankly I wish they were all like that.” (Ryan, 1:11)
“The seller said, ‘Hey, this guy is interested, and he’s buying something else from us.’” (Max, 1:11)
“The fastest way to get to the back of the line when it comes to brokering deals as a buyer is not coming to the table with all your stuff (proof of financing and past real estate investment action) lined up.” (Max, 3:26)
“I would have loved to have seen it on the market.” (Ryan, 4:12)
“At the end of the day, the seller was happy.” (Ryan, 5:13)