Where do you find Mobile Home Parks for sale?
Questions? Concerns? Contact us!
Mobile home parks are one of the most sought-after investments in real estate due to their scarcity. Mobile home parks are not built anymore, creating a cap on the supply; those who are interested in buying may have to look to many different sources to find a park that suits their needs.
The allure of mobile home parks is the efficiency of income compared to owning other properties like apartment complexes. As a landlord of an apartment complex, you have a high level of responsibility to the tenants and you have a hand in all utilities and repairs. You have to pay water bills and ensure that there are hazards on the property. Each unit can cost you over $100,000 to maintain, which is no small fee. Further, leases are usually signed for one year at a time, so there may be a high turnover rate for tenants.
On the other hand, tenants in mobile home parks usually own the trailers in which they live. They likely won't leave, so the turnover rate is quite low. They simply pay rent on the lot - freeing you from landlord responsibilities; the tenants will pay for plumbing and repairs to their trailers as any homeowner would. This means that the cost per unit for mobile homes is usually around $10,000 - a tenth of what you would be paying for an apartment unit.
Instead of focusing on each individual unit, your responsibilities will be towards the park itself and the preservation of safety and appearance. If there are laundry rooms and facilities, you need to ensure they are in working order. The roads and sidewalks in the park must also be maintained, as well as the trees and shrubbery.
In all, if you are looking for mobile home parks for sale in Arizona, you may be able to find some that are worthwhile investments and will appreciate over time.
But why do people sell their parks? Especially if there is opportunity for guaranteed income?
To Cover Debt
Sometimes, people fall into debts from medical bills, divorce settlements, credit card purchases, and more. It can be difficult to steadily climb out of debt, and they may want a fast way to clear it - such as by selling the mobile home park they operate. The only trouble is finding the best way to sell; retail listings may take too long, and they may need to get paid extremely quickly. This is why our team at Oxgord MHP closes sales fast and gets cash ready for our customers.
To Start Something New
The owners of mobile home parks usually came into possession of them through a family member or a friend who made an inheritance, gift, trade, or sale. These park owners were likely involved in the business for some years, but after a while, it can grow draining and stressful to always have to worry about the upkeep o the park and whether or not your tenants will pay their lot rent on time. Some owners feel tied down and unable to go on vacation or trips because the time away from the park could have such negative consequences.
Selling a mobile home park allows owners to start a new chapter or enter retirement. They can have a respectful sum of money from the sale and use it for their wants and desires. The main allure of starting anew is the freedom from responsibility, which is very appealing to owners who have been operating parks for decades.
To Receive Full Payment
There are various ways to sell mobile home parks in Arizona, but two main methods include retail and wholesale. Retail allows you to list the property or have a broker list it for you; there are numerous websites that will place your advertisement up for the public to see, and you can schedule viewings and go through the process of selling. A broker can keep your property in his own private listings as well.
The trouble with retail, though, is the cut that the site or broker may take. If you want to ensure that you receive the full amount from your sale, wholesale is the way to go. You may be able to list your price for above what you wish to get and negotiate with potential buyers, and if you want to purchase a park wholesale, the method will usually be much faster.
Many individuals ask us questions about the sale process, such as how long will it take, how legal is it, and how much the average park costs. In many cases, we try to close sales within a few weeks to guarantee that the clients receive the money they need and so there are no snags or holdups. We pay in cash to ensure that transfers are not stopped or flagged.
All sales are completely legal and are undertaken in according with local laws of ownership. It is important for buyers and sellers alike to familiarize themselves with the laws pertaining to property acquisitions.
As for the average cost of a park, it varies from location to location, and it is dependent on the condition of the park, the size of the land, and more.
Selecting Oxgord MHP
Oxgord MHP will gladly purchase your mobile home park for you, no matter what the condition. We can ensure that your sale is closed quickly and you have cash in hand. We know that areas of Arizona, such as Phoenix, Scottsdale, and Tempe, have ample trailer parks to purchase, and many individuals are interested in taking the steps necessary to acquiring them. We offer all sorts of guidance for prospective buyers, and we offer crucial information for those who wish to sell their parks.
If you have questions about the mobile home park acquisition business or anything to do with real estate, feel free to reach out to our offices where one of our representatives will be glad to talk with you. We are available 24 hours a day, 7 days a week, and we will always give you the advice you need to make an informed decision about selling your mobile home park or how to get started with acquisitions.
To sell your mobile home park in Arizona, contact Oxgord MHP today.