How to find Mobile Home Parks
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Mobile home parks are one of the hot sectors that many individuals are beginning to invest in. The parks have been around for some decades, but they have not been viewed as a real estate agent's preferred listing or something that could potentially turn a profit. Now, however, the section of government that pertained to building more rental parks has begun to change the zoning laws. This means that new trailer parks will seldom, if ever, pop up, leading to a very small pool to pick from. There are a few different ways to find mobile home parks and see who is interested in selling. Our team of representatives at Oxgord MHP has used many methods to finding mobile home parks that are available for purchase. We are here to tell you how to find mobile home parks - read on for more information.
You can always go traveling in local and nearby cities to see if there are mobile home parks around. You can write down the information, such as the address of the park and the phone number of the park manager or owner, and compile a large list to inquire from.
If you do not want to drive around, you can always use interactive maps online to search for parks. This will allow you to explore much faster and efficiently, and best of all, you won't waste any money on gas and you will save tons of time.
If you are specifically in search of mobile home parks for sale, there are various websites that allow you to browse their listings. The mobile home parks were likely listed either by the owner himself or from a broker representing the owner.
Some of the online listing services specifically geared towards mobile home parks include LoopNet, Fortune Real Estate, CampgroundsForSale, RVProperty, Park Brokerage Inc, CREXi, BizQuest, MobileHomeParkStore, MobileHomeParksForSale, and more.
You may also find listings on eBay, Craigslist, and other locations. It is worthwhile to explore every avenue. Brokers and owners may list their properties on a few different websites, but others may stick to one or two. Thus, not every property available is going to be listed on every site you visit.
Brokers are individuals who will essentially sell your property for you to certain bidders. They will put listings on websites, whether public or personal, and go through the process with prospective buyers. Many brokers have numerous parks they are handling at a tie, but not all of these parks are listed.
Parks that are available for sale but are not listed are what's called "pocket listings." These listings are generally shown only to qualified or verified buyers who can be trusted and counted on to go through with the sale. The troublesome part is that these brokers do not generally share all of these listings with each other, so to discover who has what, you must contact each individual broker and inquire about their listings.
You can always call the mobile home park owners directly and inquire about the state of their parks and see if they have any interest in selling. This is generally a safer option than sending emails or letters because it does not require as much time and effort and you can use your personable communication skills to your advantage. This is also a fair bit more forgiving than in-person meetings, which can be viewed as solicitation.
It is beneficial if you maintain contact with people who have been a part of mobile home park sales or who live in or near parks and can alert you if there is any interest in selling. It is overlooked how often that knowing people can benefit a sale; owners may be more willing to entrust the park to someone who they know by proxy as opposed to a stranger or a faceless group.
Benefits of Buying a Mobile Home Park
Many people are interested in finding ways to acquire mobile home parks because they understand that the chance for profit is high. If you were to buy an apartment complex, you would have to spend thousands of dollars per unit - more than likely nearly $100,000 per home. That cost is due to the need for maintenance, upkeep, and more that all the tenants are privy to.
Mobile home parks, on the other hand, consist of trailers that are owned by the tenants themselves. Therefore, they are merely paying rent for the space as opposed to the trailer. Any issues and problems with their homes must be dealt with by them, leaving you free to care about the public needs, such as the roads and sidewalks, laundry room, and more.
Further, you do not have to worry as much about the turnover of tenants. Apartment complexes usually sign leases for 1 year at a time, and there are many tenants who spend a year in a location and then move. In mobile home parks, the tenants own their homes, and they seldom move to another location. You are likely to have a steady stream of income if you own a mobile home park, and you can guarantee it if you properly maintain the park.
Oxgord MH P has been involved in the business of purchasing and selling mobile home parks for some years. We have found parks with all of the methods we described and we are staunch supporters of the proactive mentality. If you want to find a mobile home oark to buy, you must be willing to hunt everywhere for it.
If you have a mobile home park that you wish to sell, or if you have questions about the selling process, feel free to reach out to our team today. We are available 24 hours a day, 7 days a week, 365 days a year. We can help you through the process and give you all the information you need to make an educated, well-informed decision.
Get in touch with Oxgord MHP today if you want to learn more about selling your mobile home park or if you have questions about the process.