Aug 16, 2024
In this episode of The MHP Broker’s Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed MHP broker Eric Wanck regarding the challenges he faced in his two-park sale in Talladega County, Alabama.
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
- Eric recently sold a two-park portfolio in the Talladega, AL area. They were good parks, with city water and nearly full occupancy. But there were also challenges, such as the fact that both parks had fewer than 30 pads, and it was a mix of park-owned and tenant-owned homes. Also, there weren’t a multitude of qualified buyers in the local economy. As a result of the various challenges, the parks sat on the market for four months. Then a buyer’s agent approached Eric with a client who was a local investor who could buy one of the parks with no financing. As a result, that park closed quickly, in about 30 days. (Eric, 1:22)
- This sale proves that even smaller markets can sell. It was a good job on Eric’s part, especially when you factor in that Talladega is a very small town, with few potential investors. (Max, 3:13)
- It was a win-win for everybody. (Eric, 4:29)
Do you have a smaller-market mobile home park with all sorts of challenges thrown in? Contact Eric Wanck or Max Baker at The Mobile Home Park Broker, (678) 932-0200. You can also drop us a line at info@themhpbroker.com.
Power Quotes in This Episode:
“Talladega is a prime example of us being able to succeed when others could not.” (Max, 3:13)
“We keep grinding, so to speak, for the seller, and trying to find a buyer. At the end of the day, they were very happy and it was a win-win all around.” (Eric, 4:29)