Aug 3, 2024
In this episode of The MHP Broker’s Tips and Tricks Closing Cocktails podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed MHP broker Paul Schaaf about his Adventure RV Park close in West Virginia.
As with every Tips and Tricks podcast episode, this one is brought to you by The MHP Broker's 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 The MHP Broker. Guaranteed. Call Max for details.
Here Are the Show Highlights:
- Adventure RV Park in West Virginia had a nice mix of mobile homes, RVs and cabins, but one of its leading challenges was its 30 percent year-round occupancy. It was a mom and pop operation whereby the original owners had sold it to a party that failed, and then those original owners had gotten it back. They invested some capital in upgrades, but there was still plenty of “meat on the bones” for the right buyer. (Paul, 1:03)
- The park had some things going for it, including the fact that there was a new gas line project bringing in workers to the area, and a ski resort in close proximity. (Max, 1:48)
- The Mountain Valley pipeline project kept bringing in workers in need of housing. Even before closing, the park went from about 30 percent occupancy to nearly 100 percent RV occupancy. (Paul, 2:01)
- The park’s business was improving so quickly that the buyer actually snipped the closing timeline by about 30 days. (Paul, 2:32)
- The buyer refinanced some of their existing parks so they could present an all-cash deal. (Paul, 3:05)
- The lesson buyers might learn by this deal is to not be threatened by low occupancy. There are often things you can do to improve occupancy figures and increase the value of your new park. (Max, 3:22)
- The park sale was a win-win situation, with the buyers getting plenty of potential and the sellers being able to retire with an all-cash closing. (Paul, 4:07)
Whatever challenges your RV or mobile home park might have, let Paul Schaaf and The Mobile Home Park Broker team will find you a qualified buyer and maximum value. Call Paul of Max at (678) 932-0200 or drop us a line at info@themhpbroker.com.
Power Quotes in This Episode:
“I think we actually improved the closing timeline by about 30 days so (the buyers) could capitalize on that fresh income.” (Paul, 2:34)
“We'll figure out a way to find the right buyer for you and get you as much money as we can and, you know, just give us an opportunity to consider…what your goals are and I'm pretty sure we can obtain them. So, just give us a shout when you get a moment.” (Paul, 4:07)