Mobile Home Park Agents

[Jennifer Taft]

Hello,

  I am trying to purchase mobile home parks in the MIchigan area and am having a hard time finding an agent that responds to requests for additional information or even my full price offers!  I'm wondering if this is just the mobile home business- I've had the same kind of luck with mobile homes I've flipped.

  Just wondering if I'm missing something???

[William Noel]

Hi @Jennifer Taft,

I didn't initially have too much luck with realtors either. We're on our fourth park now and we're starting to get some traction with a number of great realtors around the country. It's taken about two years. 

You didn't ask for any advice, but looking back this is what I would have advised myself: Become very useful in one area and offer that service to other experienced park investors. Something that would be very useful, for example, would be a deep rolodex of debt investors who are looking to park money in safe 8% yield investments. Mobile home parks require a lot of time. You have to find parks, raise money, structure the deal, and then manage all of the assets. Most people can't do all of these things well right off the bat.

If you can become an expert in one helpful area and then partner with an existing operator you will benefit twice - once from your deep knowledge of a certain aspect of the business, and again from working with an operator who as already made the rookie mistakes.  

Best of luck. Stick with it. Reach out anytime. Will