How do I estimate the value of a mobile home park?
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When you purchased your mobile home park, you probably purchased it with the intention of owning it for many years, eventually leaving it as an inheritance for your children or grandchildren. However, sometimes our goals do not go as planned. Did you decide to sell your mobile home park after life hit you with an unfortunate situation? Some of the most common reasons behind the decision to sell a mobile home park include the following: family emergencies, management difficulties, retirement, disease, relocation, debt, settlements (divorce, child support, etc.), a loss of abilities control the property, a loss of interest in the property, or a focus on larger goals, for example. Whatever the reason, it is likely that you need quick cash and selling your mobile home park is the only option you might have.
After deciding to sell your mobile home park, you might have many questions in need of answers. You might have asked yourself some of the following questions:
- How much is my mobile home park worth?
- How do I estimate the value of a mobile home park?
- Is there a mobile home park price calculator used to determine the value of my mobile home park?
For answers for these questions and any other questions that you might be having, you must contact Oxgord MHP as soon as possible. Oxgord MHP is an acquisition company dedicated to purchasing mobile homes and mobile home parks throughout California and select areas around the country. Our mobile home park experts have spent many years purchasing mobile homes and parks from sellers who are urgent to sell their property for cash. If you are interested in selling your mobile home to Oxgord MHP for a fair cash value, you must contact our company as soon as possible. Our experts will provide you with all the information that you need to successfully sell your mobile home park to Oxgord MHP and receive the cash value that your property is worth-do not hesitate to contact us.
The Importance of the Value of Your Park
Without a doubt, selling your mobile home park for the highest price available is important to you and to your family. Regardless of the reason that led to deciding to sell your mobile home park, you likely want to sell your mobile home park for the best price out there. Unfortunately, many sellers are inexperienced and do not know the value of their mobile home parks. Because of that, ambitious buying will often try to make unreasonably low offers to park owners. At Oxgord MHP, we believe in always buying mobile home parks for reasonable prices. Although we understand that sellers are often desperate to complete a sale and get the cash they need, we are dedicated to always purchasing parks at fair values. Yes; we want to purchase your mobile home park, but we do not want to take advantage of your or your situation. To prevent acquisition companies in general from taking advantage of your desire to urgently sell your mobile home park, we encourage all mobile home park owners and potential sellers to be familiar with the value of their properties.
The Factors that Affect the Value of Your Mobile Home Park
Before understanding how to figure out the value of a mobile home park, you must be familiar with the many factors that could affect the value of your park. Net operating income (NOI) and cap rates are the most important factors relevant to determining the value of your mobile home park. The following are some of the factors that affect NOI and cap rates, subsequently affecting the value of your mobile home park:
- Mobile home rents
- Lot rents
- Park infrastructure
- Location of the park
- Empty lots
- Empty mobile homes
- Undeveloped land
- Number of mobile homes in the park
- Number of lots in the park
- Needed renovations
- Park expenses
- Park appearance
When determining the value that you associate with your mobile home park, you should consider all of the factors listed above. How can I know how to estimate the value of my mobile home park? If you own the property but you do not have much experience in determining property values, it might be helpful to hire an impartial party to come into your park for an appraisal. When a professional appraises your property, you will be better equipped to sell your mobile home park at a later time. If you would like more information regarding the potential value of your mobile home park, you could contact us and speak with the mobile home park experts at Oxgord MHP.
Calculating the Value of Your Park
Before beginning the process of selling your home to Oxgord MHP or any other acquisition company dedicated to purchasing mobile home parks, you could calculate the value of your park. Calculating the estimated value of your park can help you gain a general idea of a fair price to sell your park, which can help you while you are dealing with multiple purchase offers. To know how to calculate the price of a mobile home park, you must be familiar with the following:
- Net operating income (NOI)
- Capitalization (cap) rate
- Value Formula
The NOI is equivalent to the revenue brought in by the mobile home park minus all operating expenses. The cap rate is the possible rate of return for a property (i.e. how much a buyer could get out of the property). Consider the risk to be all of the negative aspects of your mobile home park: a high number of empty lots, an undesirable location, a high crime area, defaulted rents, etc. The higher the risk factors associated with your mobile home park, the lower it's value. Often, the following formula is used to determine the value of a mobile home park: NOI ÷ Cap rate = Value. If you would like more information on determining the value of your mobile home park to ensure that you sell your property at a fair value, you must contact us as soon as possible.
Overview of How We Determine Your Mobile Home Park's Value
When you contact Oxgord MHP, we require you to provide us with a brief description of your mobile home park. You could also provide us with photographs of your mobile home park. Within a few hours and based on the information that you provide us, our experts will promptly contact you (sometimes in as little as two hours) with a preliminary offer range. Later in the sale process, our mobile home park experts will visit your property for further evaluation. After an in-depth evaluation of your property, your offer range will narrow down until arriving at a set price offer. Before finalizing the sale, our experts will identify any problem areas that you might need to address prior to completing the purchase. For more information about the process of selling your mobile home park to Oxgord MHP, you must contact us as soon as possible.
Who We Are
Oxgord MHP is an acquisition company that purchases mobile homes and mobile home parks all over California and other areas of the United States. Our team of experts has many years of experience in mobile home parks. At Oxgord MHP, we understand that deciding to sell your mobile home park is not easy; therefore, we are prepared to work alongside you to help you make an informed decision about selling your property. At Oxgord MHP, we are dedicated to ensuring that we can complete the sale as soon as possible without any major difficulties. We can complete the process and provide you with a cash payment in as little as one week. How do I know how to calculate the value of my mobile home park? If you would like to learn more about calculating your park's value and selling your mobile home park to Oxgord MHP, you must contact us as soon as possible.
Why Choose Oxgord
Oxgord MHP provides top dollar for your mobile home park. We will buy your park from you regardless of its condition – we’re willing to put in the work to run an efficient and admirable park, and we’d be happy to take yours off your hands so you can focus on other areas of life.
If you wish to learn more about selling your land, contact Oxgord MHP today. You will doubtless have many questions about the selling process and what to expert in the days following an agreement; we’ll gladly talk with you and give you all the details you need to know about selling your park.
Don’t hesitate to reach out to our representatives at Oxgord MHP. We are available around the clock to take your questions and make an offer concerning your park.