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By Maxwell Baker
4.7
33 ratings
The podcast currently has 73 episodes available.
In this episode of The MHP Broker’s Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed The MHP Broker Eric Wanck regarding his sale of Five Points Mobile Home Park, and the challenges that wereinvolved.
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:
We can’t guarantee a total lack of drama, but we do guarantee a park sale at the highest possible price. That’s the bottom line. Call Eric Wanck or Max Baker at The Mobile Home Park Broker, (678) 932-0200. You can also drop us a line at [email protected].
Power Quotes in This Episode:
“It’s not a deal without drama, bro.” (Max, 3:38)
“Every Tuesday, we talk about all the deals that we're working on. We talk about all the drama that everybody's coming across. We are a giant think tank for you, the seller and the buyer. So that's why you pay us.” (Max, 4:21)
“It just goes to show that you always run into something with these transactions…great cash flowing park definitely had its rough edges, but I think at the end of the day he's going to be very happy here, in the long run, with the asset that he purchased.” (Eric, 7:33)
In this episode of The MHP Broker’s Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed broker Paul Schaaf regarding his successful close of Pine Meadows RV Park.
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:
A savvy, experienced broker makes all the difference and will put more money in your pocket. If you’re thinking of selling your mobile home park or RV community, call Paul Schaaf or contact Max Baker at The Mobile Home Park Broker, (678) 932-0200. You can also drop us a line at [email protected].
Power Quotes in This Episode:
Regarding the park sellers. “They ended up clearing six figures more, due to our recommendations and experience in the field.’ (Paul, 4:10)
…we saved them a boatload when it closed. So that was a really good part of the deal where the owner was just thrilled with our expertise and we put a big check in their pocket at the end of the day.” (Paul, 4:10)
“(We’re) here to put more money in owners’ pockets.” (Paul, 6:26)
In this episode of The MHP Broker’s Tips and Tricks podcast, Maxwell Baker, founder and CEO of The Mobile Home Park Broker, will discuss the company’s Sellers Guide, a book he authored with valuable advice for selling mobile home communities.
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:
Are you thinking of selling your mobile home community? @Wo\uld you like to get optimal price–guaranteed. Reach out to Max Baker at The Mobile Home Park Broker, (678) 932-0200. You can also drop us a line at [email protected]. While you’re at it, ask for your free copy of our Sellers Guide.
Power Quotes in This Episode:
Failing to research a plan and exit strategy can spoil your future or leave you vulnerable to excess taxation.” (30:27)
“The more information you have, the higher the price you’re going to get.” (35:56)
“...appraisers look at your property much like buyers. They'll examine the local lot rent and their sales comps. They're going to look for curb appeal and for what the park's first impressions would be due to its current appearance. (56:04)
“We do come across bad eggs (among competitive brokers) every once in a while, we label them as Scam Artists in our actual database. We all know that every industry has them. These people do things like re-trade deals for no reason right before closing, never deposit Earnest Money, make big promises with no intention of delivering. (1:01:10)
“We have the ability to ask the right questions, interpret prospective buyers’ answers, and gear the marketing of your community to a certain type of buyer.” (1:03:21)
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
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 [email protected].
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)
In this episode of The MHP Broker’s Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed broker Jeff Dodge regarding his sale of Mercer Mobile Home Park.
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:
Even the “hairiest” deals can be kept alive if you have a talented and experienced broker on your side. Contact Jeff Dodge or Max Baker at The Mobile Home Park Broker, (678) 932-0200. You can also drop us a line at [email protected].
Power Quotes in This Episode:
“We sell these types of deals all the time. They're rough parks. If you can handle the riffraff and the management, you can make a lot of money doing these deals, they just require a lot of TLC, a lot of hand holding, and really running it with an iron fist. So, that's the only way people could really turn this park around.” (Max, 2:53)
“So if you all have some hairy deals, there is a buyer out there for you, and I can promise you that. And we typically are really good at finding all-cash buyers, if you want to structure the financing, we're good at getting that structured.” (Max, 2:53)
“It was great to work with reasonable sellers and an experienced buyer and at the end of the day we were able to get to the finish line and feel like it was a win-win for both parties.” (Jeff, 4:19)
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:
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 [email protected].
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)
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 Eric Wanck about his very unique mobile-home-park-turned-RV-Park deal in Florida.
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:
If your mobile home park is vacant or near-vacant. No problem. Eric Wanck can find you a motivated buyer. Contact Eric or Max Baker at The Mobile Home Park Broker, (678) 932-0200. You can also drop us a line at [email protected].
Power Quotes in This Episode:
“We were selling essentially vacant land with infrastructure in place.” (Eric, 1:36)
“It was a really nice project for someone to come in, do a little bit of work and capital expenditures, and essentially open the gate” (Eric, 1:36)
“I chuckled because there's always a little bit of a hiccup with due diligence. But for the most part, it was smooth and very happy all around. Great folks to work with on the sell side and the buy side.” (Eric, 3:42)
In this episode of The MHP Broker’s Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed fellow podcaster, mobile home community portfolio owner and industry syndicator Andrew Keel.
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:
- Veteran mobile home park owner Andew Keel also runs the Passive Mobile Home Park Investing Podcast as well as running park investing syndications all over the country. (Max, 0:22)
- The current count is ownership of 42 mobile home park communities. Andrew graduated from Augustana University in South Dakota. (Andrew, 1:30)
- Andrew started out in sales after college. He ran a small team that sold websites, business cards and other sales merchandise to real estate agents. From that influence, he started buying, fixing up and flipping homes as a side business. (Andrew, 2:27)
- One day Andrew got a lead on the availability of two vinyl-sided mobile homes for sale in Ocala, FL for just $2,200 for the pair. Figuring it would cost more than that just to manufacture the homes, he quickly resold them to an eager market of homebuyers. He earned $2,500 down payment for each, and monthly payments of $250 for five years. From that point he started watching Youtube videos on how to buy and sell mobile homes. He also met a park owner who educated him on how he could raise investors’ money through syndication in order to buy mobile home parks in quantity at at a quicker pace. (Andrew, 3:07)
- It was quite an accomplishment, going from buying two mobile homes to owning 42 communities in just a few years. (Max,5:16)
- Andrew also takes advantage of a bank investing program known as Cash LEAPS. As a syndicator who might have a few millions dollars accumulated in a checking account, Andrew lets his bank invest it overnight, when he doesn’t need the cash, and have it back in his checking account by first thing the next morning. In this way, he earns significant interest during the time of day when he doesn’t need the money anyway. (Andrew, 6:56)
- There is a fee of about $100 a month for this service, but it’s well worth it. (Andrew, 7:59)
- Andrew cautions mobile home park prospective investors about ways it can cost more to operate a park in the north. He owns a park in Minnesota and another in North Dakota where each home runs on propane heat, and he has to take that into cost consideration during the winter. There’s also snow removal costs which southern park owners don’t even think about. (Andrew, 9:10)
- Eviction laws vary, state by state. In general, red states have fewer regulations, and evictions are faster and easier, and blue states make it more difficult. Andrew mentioned a park in New York State where the judge would give the evicted tenant 90 days to move out, and then grant the party an additional 90 days afterwards, for no additional reason. He tries to buy parks in red states where eviction laws are minimal. (Andrew, 11:35)
- Andrew and Max discussed recent class action lawsuits on large mobile home community chains for price gouging. Andrew isn’t sure that the communities will lose all of these suits, but it will be expensive. (Andew, Max, 14:09)
- Local zoning laws can also make it difficult to move homes into communities. Some say they won’t accept any home older than ten years, regardless of its condition. This creates an added challenge to park owners who want to expand their footprints. (Max, 15:03)
- Park buyers need to immediately make appointments with zoning officials and find out exactly what they can and cannot do. The local authorities aren’t necessarily in the wrong. They just want to save their larger communities from having a rundown park in its boundaries. (Andrew, 16:00)
- Andrew’s long-range goal is to continue to expand his mobile home park portfolio and to be able to offer good, affordable housing to those most in need of it. (Andrew, 17:47)
- Once they have a park, they work hard to add value by bringing in new homes and rehabbing existing homes, metering the water, etc. (Andrew, 18:23)
- In his time as an entrepreneur, one of the things Andrew learned is that the number one reason people leave an organization is because they don’t feel valued. Another valuable lesson is to avoid “time suck” activities that don’t add value to the job and just create a drag on productivity. (Andrew, 19:20)
- Andrew has also learned to use people’s names because it has a profound affect on drawing them in. It’s their favorite sound. (Andrew, 20:26)
- And finally, he’s learned to move a little slower, not constantly make deals and to be choosier in the deals he makes. He’s now a more careful community buyer. (Andrew, 21:48)
- You can reach Andrew through his website at keelteam.com. Fill out the online form and make a Zoom appointment to talk shop personally with Andrew. (Andrew, 23:01)
Would you like to expand your mobile home park portfolio like Andrew. Reach out to him at Keelteam.com. Or contact Max Baker at The Mobile Home Park Broker, (678) 932-0200. You can also drop us a line at [email protected].
Power Quotes in This Episode:
After buying two used mobile homes for $2,200 total. “It had to cost way more than $1,000 to build one of these things. So I bought them, got the titles, came home and got on YouTube and typed in ‘how to make money with mobile homes.’” (Andrew, 3:07)
Upon learning how to put together syndicate deals and be the managing partner. “That was the a-ha moment.” (Andrew, 3:07)
“It's…awesome, being able to provide that affordable housing for people that desperately need it. But also create a good return…for your time and effort and money invested.” (Andrew, 5:30)
“The asset class has been good to us and we have subsequently been able to provide affordable housing units that otherwise would have sat vacant, you know, with the previous owner.” (Andrew, 17:47)
In this episode of The MHP Broker’s Tips and Tricks Closing Cocktails podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed company broker Paul Schaaf on his recent success handling the Glenwood Mobile Home Park transaction in Tennessee. successful deals.
This and every episode of Closing Ccktails is presented 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:
- Paul took on Glenwood MHP, a great TN park that proved challenging to market because of the small size of its lots. But Paul found the right buyer, and the right solutions to the park’s problems, and was able to close--just as he can close on your park despite whatever challenges it might have. (Max, 1:09)
- The park’s in a good location of eastern TN, which is turning into a strong retirement area. The region also has some of the best golf courses in the state. Glenwood had about 60 lots, but was only at about 37 percent occupancy. There was a lot of opportunity there since other mobile home parks in the area were at about 90 percent occupancy with home rents at the $900 - $1,200 range and lots averaging about $400 - $450 a month. There were a lot of offers for Glenwood, but those small lots ultimately drove serious interest away. (Paul, 1:43)
- One of the big stepsPaul had his client take was to move some of the power lines to open up the space. They also found a couple manufacturers who ere making smaller, two-bedroom homes that would better fit the space and could be arranged strategically with the larger homes to improve lot sizes and the look of the park. The fact that the property was on city water and all pads already had infrastructure in place were good selling points. And there was a big demand in the area for affordable housing, so the newly laid out park was now much more desirable. (Paul, 3:27)
- The buyers were a family very experienced with commercial real estate ownership, but they were breaking in to the mobile home park business for the first time. They were very careful with their due diligence. Paul thinks they’ve already raised rents and are infilling those empty lots. (Paul, 4:41)
- Paul learned from this deal the importance of knowing what you’re going to be up against that might challenge the sale and to come up with effective solutons. You’ve got to be able to see the park for what it is, and how it can be improved if it has to be to meet market expectations. (Paul, 5:35)
- If you’re a buyer in a decent market, even a park with problems can be improved and value added if you know how to do it and are willing to invest the time and money. (Paul, 6:24)
Even parks with warts can attract motivated buyers. We can show you how to add value to a park in a great location, even if significant work must be done. Call Paul or Max at The Mobile Home Park Broker, (678) 932-0200.
Power Quotes in This Episode:
“We are very good overcoming (challenges) because we’ve seen everything thrown at us in the mobile home park and RV world.” (Max, 1:09)
“It was just a matter of putting together the best plan because the demand for affordable housing was there.” (Paul, 3:27)
“I think (the new owners) are already infilling and have raised rents. And they’re already off to the races and have done well.” (Paul, 4:41)
“If you have the right plan together, and you know how to infill quicker, and you’re in a decent market, you know, when things change in the next three to five years you’re gonna be sitting in a really good position.” (Paul, 6:24))
The podcast currently has 73 episodes available.
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