How do I find tired park owners?

Question

Hey guys, hope you’re all doing well under the circumstances we find ourselves in.

all my SFR tenants are still paying rent in north metro Atlanta suburbs👍🏼

My ask:

What are your favorite ways to find leads for either distressed mobile home parks or tired landlords that want to sell? I know how to qualify and close a deal, I just need to figure out how to find the opportunities.

In residential investing for many years most of my deals have come through networking or wholesalers. Are MHP likely the same or is it more mailers and driving for dollars cold calling?

Is it beneficial to stop by parks in person and drop in and ask questions?

Anyone have luck with SEO campaigns or Google ad words to target and get calls?

Does anyone here have success by setting up a website with a landing page “we buy mobile home parks cash?”￼(or something like that) targeted to specific area driving traffic and inquiries?

Are traditional mailers effective?

Is cold calling effective?￼￼￼￼

Just wondering if there’s anybody here that in the last year to two has had success marketing and finding deals and how they did it.

I have money and time to invest into this venture but I want to do it smartly - any help you can offer would be great.￼￼

I’m hoping to go medium to large for my first deal. I don’t wanna own a small park to start out with. I’m shooting for 50 to 60 pads or more￼￼ and no POHs! lot rent only😀

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Frank Rolfe · Answer

We find over 50% of our deals from MH brokers. We find the other 50% from a combination of cold-calling, direct mail and on-line at Mobilehomeparkstore and Loopnet.

Do NOT cold-call park offices. All you will get is managers and all they hear is "can I please buy your park and fire you". You have to find the owner through tax assessor records.

Anthony Dadlani · Answer

@Andrew Lackey

Hello Andrew, we participate in the Atlanta market as well for fix and flip properties. We are also interested in networking for the mobile home park space. Would love to have a conversation with you. Please feel free to reach out.

Best of luck in all your endeavors.

￼￼

Brenden Mitchum · Answer

Hey @Andrew Lackey

I am in the middle of my first direct mail campaign. It sounds like we have a similar idea of what we are looking for so I'll tell you my process and we can stay in touch so you'll know if it worked!

I purchased a list from listsource that targets MHP owners in GA, NC and TN. I made sure none of them have been bought/sold in the past two decades to hone in on mom & pops. You can narrow this down even further but keep in mind listsource requires a minimum of $50 purchases which is about 275 records. Decided to start at about 320 and narrow down once I can get more information about those parks that are interested in selling.

As @Frank Rolfe, co-king of MHPs, mentioned, building relationships with brokers is probably the best and most efficient way to find the parks you are looking for. I am also beginning this process here in Georgia by contacting brokers on Loopnet that have listed MHPs.

Calling/visiting parks in person will only work if they are mom & pop owned. I like the idea of running an seo campaign or other targeted online marketing for most situations but not for MHPs. I feel this would not be effective for the demographic you are trying to reach.

It sounds like we are both starting the MHP journey at the same time so let's keep in touch. Feel free to message me anytime with questions or if you just want to chat!

Daniel Ryu · Answer

@Andrew Lackey

- We used postcards. Those worked. MHP owners will keep them in a drawer even if they don't contact you right away.

- A buddy of mine in TX said visiting directly worked too.

I haven't done postcards in a while but I'm about to start again. Feel free to reach out if you want to continue sharing ideas.

@Anthony Dadlani

Feel free to reach out if you'd like to discuss the MHP industries - check out my bio for my on my background.

@Erin Spence

Thanks for the resource! I'll be reaching out as well

@Brenden Mitchum

Forgot about listsource. Thanks for the reminder.

Andrew Lackey · Answer

@Brenden Mitchum

Thanks for the reply! I like the idea of doing targeted mailing campaigns as well as contacting brokers. I’d be happy to chat with you and see where it goes. Best of luck!￼￼

Anthony Dadlani · Answer

@Brenden Mitchum

Great idea on using a list /database.

Best of luck in all your endeavors.

Mike Storey · Answer

@David Benton we invest in mobile homes and parks in the Anderson and Seneca SC markets.

Daniel Ryu · Answer

@David Benton Not in SC but looked at a few parks in the area, mostly N. Charleston

Cold calling yielded a few nibbles but nothing materialized as of yet.

David Benton · Answer

We find upward of 75% from brokers and a few from networking and a few from just being at the right place at the right time.

That said we do get a lot of letters from guys who do direct mail, we just don't do the direct mail so I can't say if it's effective or not. Those we responded to were looking for the same things we were, value add, so wasn't of interest.

Anyone in South Carolina?

Andrew Lackey · Answer

@Erin Spence

Thanks I’ll be in touch

How do I find tired park owners?

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