The Mobile Home Park Broker's Tips & Tricks To Investing

In this episode of The MHP Broker's Tips and Tricks podcast Closing Cocktail, Maxwell Baker, president of The Mobile Home Park Broker, interviewed his brokers Eric Wanck and Jeff Dodge, the team that worked together to close a particularly tricky recent transaction.

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:

• Jeff and Eric worked together to successfully close a park with plenty of challenges, from the condition of the park-owned homes to the disinterest of lenders. A lotta drama, but they got it done. (Max, 0:22)
• It was a multi-parcel community that had been bron up some through previous land sales. The park mostly had park-owned homes, which can present problems finding financing. There was county water and sewer, which is advantageous, and the books and records were clean and complete. But the buyers had to apply to multiple lenders before finding a hard money source. (Eric, 1:13)
• The buyer got turned down by about a half dozen lenders before finding their hard money resource. (Eric, 2:11)
• There was some value-add to the park in terms of the new buyer being able to raise rents and bring in new homes, so it was advantageous for the buyer to go through all of the hassles of finding a lender. (Eric, 2:13)
• The buyer was visionary and saw the park's long-term potential. He knew he could quickly add value by bringing in new homes and fixing up some of the existing inventory. (Jeff, 3:04)
• The market is healthy and vibrant right now. Parks are moving, and the MHP Broker teams was able to close this sale to everyone's satisfaction despite the challenges. They can do the same for you. (Jeff, 5:24)

Regardless of the particular challenges that your mobile home park or RV community present, you can trust The MHP Broker to find a way to get to a successful close. Call Eric Wanck, Jeff Dodge or Max Baker at The MHP Broker, (678) 932-0200. Or drop us a line at [email protected].

Power Quotes in This Episode:

"This was more difficult than we envisioned from the start…That's what we do. We never take no for an answer. Long story short, we went through multiple lenders to…eventually find some hard money lenders." (Eric, 1:13)

"So yeah, we got it done. THe buyers actually had a good source of hard money. There was some value-add, they're going to bring in some new homes, so it all seemed to work out at the end of the day to get it done." (Eric, 2:13)

"They were mostly older homes and needed some work, but the buyer saw, you know, great opportunity with this park, going to bring in some new homes, raise the rent. So, they really saw the vision and stuck with it." (Jeff, 3:04)

"Yeah, so this deal, like I said, was not an easy deal to get funded. We had multiple community banks sniff their nose at it but our team was bold, determined, and consistent. So, that kind of behavior is what you expect that you will receive here at The Mobile Home Park Broker when you give us the listing on your community, RV or mobile home park, or even in this case, it was a land-home package neighborhood." (Max, 3:21)

"We're not those white glove brokers that only work on white glove deals…we get dirty, we know how to sell the ugly stuff. But don't get me wrong, we will do the white glove stuff (too)." (Max, 3:58)

In this episode of The MHP Broker's Tips and Tricks Closing Ccktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed The MHP Broker Eric Wanck about his Bailey Acres Mobile Home Park transaction near Chattanooga.

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:

• Max wanted to discuss Eric's Bailey Acres deal because there were some challenges. It was a development project with a lot of infilling required, and there was a bit of drama as a result of the park's interaction with the local bureaucracy. (Max, 1:19
• Eric loved the deal because, in the first place, it was a prime location, just south of Chattanooga, a thriving metro. The park was just 20 minutes from downtown Chattanooga. And while a lot of infilling was needed, the infrastructure was in place. It had city water and a 1:1 septic system. It was also getting $400 a lot, a good rate. The park had been neglected for a few years, so it did need some major sprucing up by the new ownership. (Eric, 1:31)
• As far as the city was concerned, the park had too many pads for its size, and some would have to come out. Eric and the eller went back and forth on that for a while. In the end, they had to lose about four pads. But they found an experienced park owner/buyer from Georgia who knew what he was doing. The seller was very happy with the sale price, which went for about $20,000 a pad, a very good deal for a park in such need of infilling. (Eric, 2:31)
• Part of the buyer's financing came from 1031 exchange. That's funding generated by the sale of a similar project. If spent on a like project within a limited time, there's less capital gains taxation on the previous sale. (Eric, 4:06)
• The buyer was able to get additional financing through a pre-existing relationship with a local bank, so he came to the table fully funded. This was important because the seller didn't want to hold a note, so it worked out to everyone's advantage. (Eric, 4:08)
• Max reminds sellers that there are a lot of 1031 exchange users out there, and they're all motivated to find a seller and a quick deal–and they've got money! We'll help you find them. (Max, 4:44)

While Max can't guarantee a sale price of $20,000 per vacant pad on EVERY sale, he can assure you of getting the best price possible on every deal, thanks to he efforts of savvy veteran brokers like Eric. Call Eric Wanck or Max Baker at The MHP Broker, (678) 932-0200 or drop us a line at [email protected].

Power Quotes in This Episode:

"I felt that the location was strong enough that eventually we would find a buyer, and lo and behold, we did just that." (Eric, 1:31)

"Seller's happy at the end of the day, I believe, because we stuck firm to what he wanted and we got nearly, I think about $20,000 a pad." (Eric, 2:31)

"You know, the higher the lot rent, the more money you're gonna get, obviously, because there's more demand." (Max, 5:04)

"Really happy to be involved on this one, and look forward to more deals where we can infill. I think there's going to be more that hit the market, and this is going to be opportunities for some investors out there. Doesn't have to be the 100-plus pads that the institutions are chasing. You know, this one's sold high fives (CAP rate). We can get them done." (Eric, 5:25)

"I mean, it was unreal the response we got. Received multiple offers and then went to work with competing offers and got it sold actually over ask price. The seller was very happy with that." (Jeff, 4:09)

"It was a couple hundred grand over ask price with multiple offers that were competing." (Jeff, 4:26)

The worst thing you can do is have a (investment) fund just sitting there. (Explaining why an investor might overpay on a good deal vs. doing nothing with their money.)" (Max, 5:24)

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 Jeff Dodge who teamed up with Max to close a park in the Charlotte, North Carolin metro.

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:

• Jeff and Max worked together on te Mountain Village Mobile Home Park deal in Gastonia, NC. It came amidst a real hot streak for MHP Broker. The company was incredibly busy the first part of 2025, especially compared to two years ago, before the presidential election. (Max, 1:10)
• It was a nice park in a good location, the Charlotte metro. Mountain Vilage had 46 lots and 40 tenant-owned homes, three vacant park-owned homes, two vacant lots and one rent-to-own home. The park had a high occupancy rate and strong demand. By the fact that most of the homes were tenant-owned, the maintenance costs and responsibilities were low and Mountain Village was mostly a turnkey operation. (Jeff, 3:24)
• The response to the deal was so great that Jeff received multiple offers and they ended up selling it for MORE than the asking price. (Jeff, 4:09)
• It didn't go for just a little bit above the asking price either. It was more like a couple hundred thousand dollars over. (Max, 4:21)
• Jeff and Max were able to quickly get Mountain Village under contract with an experienced buyer. (Jeff, 4:26)
• The sale came in with a CAP rate in the upper sixes, which is virtually unheard of for a park with fewer than 50 lots. Great for the seller. The rate indicates that the buyer might have overpaid for the park. (Max, 4:38)
• The worst thing you can do as an investor is to just let your money sit there. So investors will sometimes spend it quickly oon what they consider to be a smart investment, even if they're overpaying at that moment in time. Charlotte is a good housing market and the buyer obviously felt it was advantageous to buy the property at whatever he had to spend. (Max, 5:24)
• As great as the sale was, it didn't go off without a hitch. The seller had two park-owned homes that weren't occupied. He'd agreed to sell them before the park sale or give them up for nothing if he didn't have them sold in time. But he evidently forgot that term pf the deal until the sale was about to go through and the buyer got ready to take possession of the two homes for free. When reminded of the terms of the deal, the seller refused to give up the homes for nothing. That drama at the end nearly killed the sale. (Jeff, 6:49)
• Jeff saved the sale by getting the buyer and seller to agree to a compromise by which the seller would keep the homes in the park until they were sold and pay lot rent on them in the meantime. The new buyer had aggressively raised lot rents and the seller agreed to pay the higher rate. Both buyer and seller were happy with the negotiation and the park sale closed. (Jeff, 8:12)
• Whether you have a big park or a small one, you can trust MHP Broker to get through whatever issues might occur and get the park sold. (Jeff, 11:08)

The MHP Broker has sold parks of all sizes and complexity. Even if you're just thinking of selling it at some point in the future, we can evaluate your property and calculate its market value. Call Jeff Dodge or Max Baker at The MHP Broker, (678) 932-0200 or drop us a line at [email protected].

Power Quotes in This Episode:

"Everybody says the market's down, but here at our brokerage yeah, I don't know, we're just killing it, man. Like, we've had more contracts fly across the desk at the beginning of 2025 than we've ever had as a company as a whole. (Max, 1:10)

"I mean, it was unreal the response we got. Received multiple offers and then went to work with competing offers and got it sold actually over ask price. The seller was very happy with that." (Jeff, 4:09)

"It was a couple hundred grand over ask price with multiple offers that were competing." (Jeff, 4:26)

The worst thing you can do is have a (investment) fund just sitting there. (Explaining why an investor might overpay on a good deal vs. doing nothing with their money.)" (Max, 5:24)

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 an unusually easy sale in North Carolina.

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 there was anything "unusual" about this transaction in North Carolina, it's how smoothly it went. Anyone who's been in mobile home sales, whether as a buyer, a seller or a broker knows that's not usually the case. For starters, the park was only on the market for 30 to 45 days before it went under contract. The seller had good books and complete records, which moved things along. Also, the park only contained park-owned homes, and they were 100 percent occupied. And all of the homes were titled, so there was no chasing down missing titles. They also had a great location in NC, a desirable place to be. (Eric, 01:17)
• Another thing that made the transaction quicker and easier than usual was the fact that the buyer was dealing with a lender he'd done business with before, so the lender knew his credit history and the business he was in. They already had a good business relationship. And the buyer owned a small portfolio of mobile home parks, so he knew how to conduct due diligence and get a transaction done. Now the only potential obstacle was the appraisal. (Eric, 2:18)
• The appraisal went just as smoothly as the rest of the deal. No surprises whatsoever. (Eric, 2:46)
• Max noted the ability to sell your park even if you don't have good books and records, but it's easier on everyone (and faster!) if you keep good records. And it will help you get the best price possible. (Max, 3:35)
• Easy sale, or challenges every step of the way. Whatever obstacles we find in front of us, we can get past it and get you a good and clean sale at the best possible price. Call Eric Wanck or Max Baker at The MHP Broker, (678) 932-0200 and we'll help you find a qualified buyer and an optimal sale price.You can also drop us a line at [email protected].

Power Quotes in This Episode:

"Thankfully we had no issues whatsoever. So, it tells me that we got a good contract, we priced it right, and as I said, this one was a really smooth little deal. We got it closed on time, no extensions." (Eric, 2:46)

"That's rare. It's like a unicorn!" (Max, 3:01)

" We can still sell the community for you (if you don't have good records), but there's just so many more options for you as a seller if you have clean books and records, because you want to be easy to buy from. If you're hard to buy from, the price is gonna suffer. If you're easy to buy from, you're gonna get the highest price you can get." (Max, 3:35)

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 very challenging closing of a portfolio of five mobile home parks in North Carolina.

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:

• Max introduced broker Eric Wanck and explained how Eric and his business partner had recently closed on a five-park portfolio in the Tar Heel State that came with plenty of challenges. That included a buyer who initially fell out of contract but then came back months later for round two. (Max, 00:22)
• The prospective buyer initially came to the deal with a funding package he was trying to put together from among several investors. As what tends to happen when you have too many moving parts in a deal, the whole thing fell apart. The buyer's due diligence was also challenging, since there were something like 123 park-owned homes to look at, spread on some 172 pds scattered over five parks. (Eric, 1:58)
• The prospective buyer failed to get financing, killing the deal the first time around. The deal looked deader'n a doornail. (Eric, 2:40)
• The park went off the market for three or four months. But then the original prospective buyer came back with another deal. One advantage of doing business with those folks again was that they had already inspected he parks and had completed the bulk of their due diligence. However, Eric was naturally skeptical–and cautious–since that group had already brought them a soured deal. (Eric, 3:07)
• Eric and the sellers proceeded cautiously, shortening timelines for due diligence and inspections since a lot of that work had already been done the first time around. It was still a slow grind, taking about 90 days to close, even with the buyers presenting an all–cash deal. (Eric, 3:47)
• The availability of all of the park-owned homes also complicated the deal. They were hard to price. Twenty-eight of them were nearly new, having been bought new and installed in 2020. The final tally was that the homes sold to the park buyer at an average cost of about $22,000 each…a good price for the buyers. (Eric, 5:06)
• With lots renting at close to $1,000 a month, the buyer was going to generate impressive cash flow and get back the purchase price in good time. The sellers had made over a million dollars in capital improvements to the homes, increasing the value of the entire portfolio. (Max, 6:06)
• That included new HVAC units throughout the park, greatly increasing the portfolio worth. (Eric, 6:27)
• The sellers' well-organized and complete books and records also helped make the deal possible. The seller also had the benefit of being able to get the best purchase price based on competitive rates and other pertinent data collected and provided by Max and his team. (Max, 7:00)
• The bottom line is that, the more comprehensive the due diligence and financial information, the more the seller can get in the sale. Make the process easier for all parties, and you'll end up with more at closing. (Eric, 7:40)

The Mobile Home Park Broker has tons of experience putting seller-friendly deals together–and saving deals when they fall through or feel at risk. If you're thinking of putting your park on the market, call Eric Wanck or Max Baker at The MHP Broker, (678) 932-0200 and we'll help you find a qualified buyer and an optimal sale price.You can also drop us a line at [email protected].

Power Quotes in This Episode:

• "Whenever you get more people involved (in a deal), you typically might run into more issues. (Eric, 1:58)
• (On a first deal falling through.) "Hey, just because you don't make it go once doesn't mean you can't try to do it again." (Eric, 2:40)
• (After the first deal failed and the parks went off the market for an extended time) "We just kept a good relationship with the owner." (Eric, 3:07)
• "When you drive around a mobile home park and you see a bunch of brand-new Trane HVAC units, literally on every single home, you're dealing with ownership that takes pride and wants to have a nice home for tenants." (Eric, 6:27)
• "So it's very important to organize your books and records, because whenever we go to sell your community…it only adds more zeros to the bottom line. You know, simply because you're eliminating risk, and the less risky your asset is to an incoming operator, the higher the price naturally is what's going to happen." (Max, 7:00)
• "The more comprehensive your due diligence and financial information is, the more money we can get for you. …It makes the process so much easier, both on your side and the buy side and getting to the closing table." (Eric 7:40)

In this latest episode of The MHP Broker's Tips and Tricks podcast, Max takes to the microphone all by his lonesome. He's discussing the very challenging closing of Fort Morgan RV Park in Mobile, 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:

This particular deal had its challenges from the get-go, with plenty of drama involved including personal matters of the sellers that teded to get in the way and slow things down. (Max, 0:22)

Fort Morgan RV Park was an ideal community, one located right on the waterfront in Mobile, Alabama. It was a mostly long-term RV community, and perfect for transition to a tiny home community, which was and is the buyer's intention. It had city water and septic, and the rents were under market rates, so there was room for a revenue boost there. The bid price was pretty close to the list price. Perfect, right? So what was the problem (or problems)? Max, 1:14)

For starters, there was another broker involved in the deal, which tended to muddle things down a bit. But a bigger problem was all of the contracts that fell through. The first would-be buyer couldn't get funding. So a second buyer stepped in with an all-cash offer we were about to accept when the first guy came back with a better offer and said he was ready this time…but not so much. He stll couldn't make it. At this point we had nothing and assumed the deal was pretty much dead in the water. But then the once-rejected buyer, the one with cash, came back into the picture and Max was able to close with him. That happened a couple of months ago. (Max, 2:00)

The Fort Morgan RV Park closing story is a reminder that not all "dead" deals stay that way. If the broker and seller stay patient and flexible, many of these "zombie deals" can actually be brought back to life. (Max, 2:52)

Not every transaction goes off without a hitch–and some hitches can be big and ugly ones–but each can come to a satisfactory close if all involved parties work together and are determined to get it done. (Max, 3:27)

Let The Mobile Home Park Broker handle all of your deal's headaches, hitches and drama storms. They've pretty much seen it all. Just reach out to Max Baker and his team at The MHP Broker, (678) 932-0200. Or drop 'em a line at [email protected].

Power Quotes in This Episode:

"(This deal) was filled up with drama all the way from the beginning to the end." (Max, 0:22)

"A lot of these deals, I call them zombie deals because they die and then they're resurrected." (Max, 2:52)

"I'm happy that the seller was able to get what they needed out of the deal and finalize their personal matters and I'm just grateful that were able to get it done." (Max, 2:52)

"There's some of these deals like this one, which leave you scratching your head one day and then pulling your hair out the next and then crying gracefully all the way to the closing table…(but) we did get it done. All cash." (Max, 3:27)

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, briefly interviewed company broker Jeff Dodge regarding his closing of an expansive Tallahassee, Florida 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:

• Jeff explained that one potential challenge to this Tallahassee Mobile Home Park Estates deal was that the owners lived in another state and weren't present during most of the transaction. In fact, it was their physical distance from the park that motivated their decision to sell, and to invest the proceeds closer to their home. (Jeff, 1:04)
• This transaction proves the point that The MHP Brokers can transact a sale whether or not the owners are present, from running drones to calculate footage to handling the underwriting and all contact with buyers. (Max, 1:278)
• The park had 90 percent occupancy, with 20 lots on about 15.5 acres. There were 11 tenant-owned homes and 8 park-owned homes, with one unoccupied home and one vacant lot. Being part of the thriving major city of Tallahassee and having city water and paved roads throughout, and plenty of room for expansion on those fifteen city acres, there was a lot of buyer interest. As a result, there were multiple offers, and the one they went with was a buyer who owned other parks in the area, and the brokers had worked with him in the past. The buyer was able to get bank financing, and the deal closed promptly. (Jeff, 2:06)
• Well, there was one little hitch. A lawyer forgot to include his fee, so MHP Broker had to do a little price haggling at the end. That proved a little harrowing for a while, but it all worked out fine in the end. (Max, 2:58)
• What Jeff learned (or relearned) from the transaction was that unforeseen issues can come up at any time. Sometimes you have to be creative, but the issues can all be dealt with if you think it out, and the transaction caan close to everyone's satisfaction. (Jeff, 3:30)
• The Mobile Home Park Broker won't let your deal go south. They've got tons of experience keeping deals on track and closing to the satisfaction of all parties. And you don't even have to be on the scene while they handle your transaction. So reach out to Jeff Dodge, Max Baker or other team members at The MHP Broker, (678) 932-0200. Or drop them a line at [email protected].

Power Quotes in This Episode:

"We had a little bit of drama at the closing when one of our attorneys forgot to add his fee, so we had to negotiate that out a little bit. Everybody got a little fluffy-tailed, but ultimately, Jeff was able to do the negotiation and get that closing. So yeah, it was a little scary there at the end, because everybody was getting all up in hands about it, but we were able to get it done." (Max, 2:58)

"Even though issues can arise any time up until closing…we can always find a good resolution and…sometimes we have to get creative. You know, those things can come up at any point and you have to be ready to overcome (them)." (Jeff, 3:30)

"I'll just say that we're able to get to the finish line, and both parties were happy with the outcome eventually, and (to) everybody out there listening, we typically can find the right buyer for you. So, just give us the opportunity." (Jeff, 3:58)

"We can get funding. We can find the buyer. We can make the experience white-glove for you (the seller)." (Max, 4:07)

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed his wife, Kathryn Baker, and two more female business leaders. These were industry business owners Justine Natalie and Maria Horton.

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:

• Kathryn introduced herself as the co-owner and chief operating officer (COO) of The Mobile Home Park Broker. Her focus is on customer service excellence, optimizing workflow and driving growth. (Kathryn, 1:26)
• Justine Natalie introduced herself as the co-founder and co-owner of a company called Dynamic MH Solutions. THat's a hybrid third-party park management operation she started with business partner Mike Scheffler in 2021.They started by offering sales and financing services, and then got into property operations. Their focus is in teaching and training community management. (Justine, 3:00)
• Maria Horton introduced herself as someone who has been in the business for about 23 years, mostly on the human side of the business: property management, community relations, and such. She said she loved watching her young residents grow up, get scholarships, and take on life. She also loves going to industry conferences and networking. (Maria, 4:10)
• Maria said she thinks the biggest challenge is trying to change the image and perception of her industry and the very concept of what a mobile home is. It's also difficult to go up against the obstacles that local communities place on manufactured home parks to regulate them and seemingly control them out of existence. (Maria, 5:55)
• Max observed how intimidating an industry conference might be to some. For instance, the difficulty of someone just starting out trying to strike up a conversation with someone who owns 100 parks. (Max, 6:48)
• Maria noted that she has the social ability to approach anyone at a conference, and that she goes out of her way to meet someone who seems intimidated or on the outskirts of the social action, and introduce them to others. She's also glad to see how many women there are at these shows now, compared to years before. Women are finally becoming a bigger part of the career path. (Maria, 7:07)
• Max then asked his guests to address the various business challenges they've had to take on, being women in the business. (Max, 8:00)
• Justine said that there are so many details and decisions she has to stay on top of, it's easy to get imposter syndrome and wonder how she possibly has the talent and ability to thrive or survive in such an environment. She said that she thinks women might overthink this more than men, who might have a greater tendency to just "jump right in" with greater confidence and less insight. This, she thinks, is a daily challenge and one she's always trying to overcome as a female business owner. (Justine, 8:23)
• Max said that he thinks women tend to be better business operators than men. The men prefer "flying by the seat of their plants" while women plan and strategize before taking action. (Max, 9:49)
• Justine and her husband have observed that the careful pre-planning is something she does in her business life, but not at all in her private life where she's more spur of the moment. (Justine, 10:09)
• Maria thinks that might be because more people are affected by decisions she makes in the business life. At home, she can blunder her way through decisions because they affect fewer people. (Maria, 10:40)
• One of Maria's biggest challenges is staying abreast of all of the organizations and associations she takes an active part in. She always wants to feel that she's making a positive impact in her industry, but it's easy to get sucked in and get overinvolved. Sometimes she just doesn't know when or how to say no. (Maria, 11:29)
• Kathryn stated that she also sometimes experiences the impostor syndrome like Justine. She's eventually come to realize that she doesn't always have to have all of the answers, that she can rely on others on the topnotch team they've put together through the years. (Kathryn, 13:39)
• Justine has made a point of hiring great people who are good at what they do so she can let them make key decisions when they should. But it took her awhile to realize that she could trust others to help her run the business. (Justine, 14:21)
• Kathryn said that she learned how to accept the freedom to fail from a video biography of Spanx founder Sarah Blakely. She said that around the kitchen table as she was growing up her dad would ask her all the time, "Sarah, what did you fail at today?" The idea was to lose the fear of failing and be able to take decisions and get right back up on your feet if you failed the first time. Kathryn feels she is much more confident that way, now. (Kathryn, 15:12)
• Regarding advice she'd give for women who are trying to purchase a manufactured home community, Justine said that her first tip would be to join Women Advancing Manufactured Housing (WAMH). In that way, women business owners would join a network of seasoned professionals who could offer tips and suggestions and advice. That's the purpose of WAMH, an organization with which Justine has been closely involved. (Justine, 16:49)
• Her second piece of advice is that the female entrepreneur should learn how to advocate for themselves and not to sit quietly by. The idea here is to control their own destinies. (Justine, 17:30)
• Justine said that she thinks there's still a little of a glass ceiling working against female entrepreneurs, but it's much more subtle than it used to be. She said that she can buy a community today, but if she goes to see a lender with a male partner, the lender's questions and comments often get directed to her partner a lot more than to herself. You have to put yourself out there when that happens, and make sure you're heard. She says she's also lucky in having a male business partner who'll turn the conversation back to her when he feels she's being ignored or minimized as a woman and an expert. (Justine, 18:45)
• Maria doesn't think there's much of a glass ceiling these days in manufactured home communities. She said that female park management is becoming more common and there are fewer barriers than ever. (Maria, 19:57)
• Max credits Kathryn with being key to building their own company to where they've been able to take it. Without his wife's involvement, he felt that he would be a solo broker with maybe one employee, but she's been able to help them grow it far beyond that point with her organizational and management skills.(Max, 23:56)
• Max specifically credits Kathryn with being much better at managing people than he is. (Max, 24:45)
• To Max's question regarding the most important lessons learned while in the manufactured housing industry, Maria responded that patience is required. That's necessary because change is constant, and there's always something new to learn. (Maria, 25:53)
• Justine observed that the industry is constantly evolving to stay ahead of changing economics or cultural changes. For example, when the economy is on a downswing, park operators will offer more in the way of home rentals rather than sales. It's critical to be able to evolve with the industry because that's how to stay profitably in business and survive the changes. (Justine, 26:44)
• Maria thinks one advantage women might have is their sense of flexibility. They really can change with the times and adapt to changing conditions. (Maria, 28:57)
• Kathryn is pleasantly surprised at how gorgeous today's manufactured homes are. It's not like the stereotype at all. (Kathryn, 29:27)
• On the subject of business role models for women, Maria said that Leslie Gooch and Paula Reeves are among the industry insiders who made the greatest impression on her, but that there were many others as well. These included bankers, association insiders, and too many others to mention. She also name-dropped Justine in this category. (Maria, 30:33)
• Justine mentioned Maria as one of her mentors through her activism in the associations and her ability as a "connector," someone who can bring people together and inspire networking. She's also done a lot to provide home ownership lending for community residents. Justine is also impressed with the leadership of WAMH and how they've encouraged women in the business. (Justine, 31:48)
• Justine is also impressed with Dr. Vrnka Boykin as a role model for women in business leadership. She addresses such topics as work-life balance for women. (Justine, 33:15)
• Kathryn takes inspiration from Brene Brown, a speaker and influencer from outside of the industry. Brown speaks in a communication style. Kathryn also sees Sara Blakely, the Spanx founder, as a role model.
• Max's final question was on trends or developments that might shape the future of the industry for women. Justine mentioned the increased number of women buying and operating communities. She thinks that, as this happens, women will create more of a focus on creating clean, safe, affordable housing rather than just maximizing the bottom line. (Justine, 35:03)
• Maria felt that need to do more in the way of getting the word out on the high quality of the manufactured homes available today. Home ownership is the American Dream. And it really is readily available through manufactured homes. (Maria, 36:44)
• WAMH is an organization run by women, but not exclusively for women. Men are members, too. Today the organization has about 400 members. (Justine, (Justine, 40:27)
• WAMH has had a variety of educational classes for members on subjects as diverse as trends in technology and automation to pet screening. The goal is to educate park owners on the latest trends and developments in the industry. (Maria, 41:35)
• The Mobile Home Park Broker sees plenty of opportunity for men and women in the industry. Please call Max Baker at The MHP Broker, (678) 932-0200 and we'll help you find a qualified buyer and an optimal sale price.You can also drop us a line at [email protected].

Power Quotes in This Episode:

"...you;re working with people's livelihoods, right? I mean, if you make a mistake for the business, you've got employees and clients and all sorts of people that you have to answer to. So yeah, being able to put a plan in place is very important." (Justine, 11:07)

"I think there really isn't a glass ceiling any longer for women in this industry if they are strong business women that are ready to jump in and be assertive and get to know everyone." (Maria, 19:57)

"I think (manufactured housing) isa fantastic solution for affordable housing, and it surprises me that it doesn't get more attention…I have learned that the homes are absolutely gorgeous." (Kathryn, 29:27)

"I think women will continue to have the thought process of advancing the industry forward, making sure it's clean, safe, affordable housing for families, and things like that." (Justine, 35:03)

In this episode of The MHP Broker's Tips and Tricks Closing Cocktails podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed The MHP Broker Eric Wanck regarding his recent two-park mobile home park sale in Talladega, 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:

• Max introduced broker Eric Wanck and told how Eric had recently closed on two mobile home parks in Talladega, Alabama with good value-add opportunities. (Max, 00:22)
• With both being small parks, Eric knew he had his work cut out for him. Smaller parks tend not to attract big portfolio owners or Wall Street investors from outside the market, and can take longer to find more localized buyers. Both parks were on city water, which was an advantage. He did get a good all-cash offer for both from a local, but had obstacles that kept the park deals from closing for several months. (Eric, 1:39)
• The delay was caused by the need of the buyer to move money around, selling some properties in order to raise the cash they needed to complete the Talladega deal. (Eric, 3:03)
• The deal was of particular value to the buyer because the lot rents were very much below market at about $175 a month. This would create a strong value-add opportunity to raise rents and increase revenue soon after the purchase. (Eric, 3:17)
• Although the sale took five or six months, it turned out to be a smooth transition and everyone was happy. In fact, the seller was so pleased with the sale that they gave Eric a referral on another park sale. (Eric, 4:30)
• The delayed closing was something Eric hadn't seen before, but it worked out to the satisfaction of everyone. The lesson here was that every sale is unique, and you just have to stay flexible an deal with it. (Eric, 5:01)

The Mobile Home Park Broker is experienced at brokering parks that have a hiccup or two during the course of the transactions. We can handle it. If you're thinking of putting your park on the market, call Eric Wanck or Max Baker at The MHP Broker, (678) 932-0200 and we'll help you find–and find financing for–a qualified buyer. Or drop us a line at [email protected].

Power Quotes in This Episode:

"The small parks are always a little bit of a wild card. How are they going to sell? Typically, we always look at it as a smaller buyer pool. These folks are likely going to be local to the park, instead of your bigger national portfolio buyers coming in and buying these 30-pad parks. So they sit on the market, and that's typical, sometimes a little bit longer than most." (Eric, 1:39)

"Anytime we see anything under $200 (in lot rents) in the southeast, we know that they're asking for a rental bump at some point." (Eric, 3:17)

"It was a pretty smooth transaction. At the end of the day, the seller was happy and, believe it or not, this seller turned around and gave us a referral on some other parks." (Eric, 4:30)

"We just essentially needed to kind of hang on for that closing date. So, it worked out nice, man!" (Eric, 5:01)

(Regarding the market for mobile home park sales) "...as rates continue to push down here, this is a prime time to get back out there and start looking to buy parks, sell parks. Movement is happening for the most part. 2024 was probably slower across all asset classes, but things are definitely picking up. Give us a call, we can help get parks moved and find you something if you want to get on the acquisition side." (Eric, 5:43)

In this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, chats with old friend and fellow former U.S. Marine Andrew Toothman about his Mental Grenade blog site and FOB Truth non-profit plans.

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:

• Max has known and been good friends with Andrew "Drew" Toothman since they met at U.S. Marine boot camp. They later attended the Marine Music School together. Max invited Drew on to discuss his non-profit ambitions for vets, first responders, and others needing moral, emotional and spiritual support. (Max, 0:22)
• After their School of Music time together, the two friends got separated. Drew was sent to Okinawa for a year. He got married to Misty, then got sent to Twentynine Palms, in the Mojave Desert. He was trained in explosive ordnance disposal and was deployed to Afghanistan. After experiencing multiple concussive hits and serious concussions, Drew was medically discharged from the Marines after more than 12 years. (Drew, 4:14)
• Drew, Misty and their three kids moved to Pennsylvania, and Drew attended auto diesel school. He had extensive problems transitioning from military to civilian life because of the relative lack of structure. He didn't feel like he had a community any longer. (Drew, 5:42)
• Drew was dealing with PTSD from his military days and before, and going through a period of intense self-reflection. 7:38)
• Drew helped establish, then worked on, a non-profit organization dealing with the mental health needs of veterans, until he left the organization at the end of 2019. He learned the importance of community, so he worked to set up his own online community, which became FOB Truth. In the military, FOB stands for "forward operating base." But in his new life, Drew had FOB Truth mean "fundamentals of Biblical truth.") (Drew, 8:53)
• Drew started a blog called Mental Grenade, and used it to draw people to his regular Thursday evening Zoom meetings where they discuss the Bible and their own spiritual and emotional needs. That's FOB Truth. (Drew, 17:50)
• The way FOB Truth is structured, the first two hours are Bible study, and the next two are support group chat. People check in and check out whenever they want, so it's not a matter of having to commit to a four-hour Zoom meeting every Thursday evening. (Drew, 31:02)
• The stories that attendees tell can be very dark and personal, which is why Drew would never record or put the meetings online. (Drew, 32:46)
• While Drew's community is currently online, he'd like to get to where he could meet with his community in person. To that effort, he invited two men who'd found him online to stay with the family for a while and help prepare his eight-acre property for future community events such as meeting around a campfire and talking in-depth. What Drew is trying to do is the opposite of establishing a mega church. He's following Christ's example of talking with small groups of people rather than large crowds. His efforts are more one-on-one. (Drew, 35:33)
• Drew's weekly FOB Truth online meetings have drawn veterans, law enforcement personnel, nurses, EMT workers, therapists, pastors and civilians from all walks of life. Some just attend a meeting or two while others have become long-time regulars. (Drew, 38:11)
• The way to join FOB Truth is to reach out to Drew through his blog, MentalGrenade.com, or reach him at his personal phone number: (434) 473-8886. Join the community. (Drew, 45:29)
• You can also go to [email protected]. (Drew, 47:06)

If you're thinking of selling your mobile home park or RV community, 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:

(On leaving the military) "But then you get out and you're suddenly saying, 'Who am I outside of this uniform? And what am I supposed to do with my life? Because if my rank is no longer part of my name, and my job title doesn't mean anything to anybody on the outside? What am I supposed to do,' and you have these veterans who are left without structure." (Drew, 5:42)

"It takes more avenues of approach than you think it does to find stability in your mental health if there's been trauma and other things." (Drew, 7:38)

"Humans are tribal, they're meant to be in community. And when they're not, and they're in their own environment, and they can just order their groceries online and have them delivered to the dorm and they don't really have to go anywhere…I mean, imagine that the American knowledge worker sits at a computer all day, gets paid by direct deposit, doesn't have to go pick up a check. And they can order their groceries online, they don't have to leave their house, all the services are networked to their one place, and they live in isolation. And it's crushing their soul." (Drew, 8:53)

"I realized, like, we've got to start pulling people out of isolation and getting them into community…there's just a lot of spiritually unmoored people out there drifting." (Drew, 8:53)

"I just started this group, and I started inviting people online, and it slowly formed and morphed a little bit. But ultimately, it became known as FOB truth. (Drew, 8:53)

"I was spiritually lost when I was out there in the thick of combat in Afghanistan." (Drew, 15:07)

"God's word can transcend culture and timeframe." (Drew, 17:50)

(On going to church as a child) "I remember just getting up on Sunday and getting dressed, going through the motions, doing the whole hand gesture, get the wine, I'm like, you know, a 10, 12-year-old boy during a while feeling like I was, you know, I was on top of the world, and the communion as well, and go home, and then forgetting about it. And then as I've gotten older, you realize, like, it's just not as powerful as the community aspect that you're talking about. (Max, 21:56)

"That's been one of the things that God blessed me with over the last decade, was to keep my mouth shut and listen to people." (Drew, 28:13)

"I kind of view FOB Truth as a halfway house church." (Drew, 35:33)