First time long distance MHP purchaser

[Nicole Frey]

All,

Ready to take the plunge and purchase our first MHP (~20 mixed lots) from out of town. Exactly how does someone make an offer with a selling broker? Do We need a broker? Do I just use a real estate agent? What is the first step? Thank you for your experience!

[David Benton]

You can work directly with the seller and don't need to work with a broker if you know what you're doing. Another option is to work with a knowledgeable attorney who can guide you and write the contract, but the due diligence is on you. You need to know how to analyze a deal and you need a well written contract plus you need a good management and value add plan. 

If you don't have the experience a good option is to work with a broker who specializes in MHPs. They should be well worth the commission IF they're looking out for your interests throughout the process and are willing to help you through the process. 

One poor decision on the buy can set you back for a long time. You may want to partner with someone with the experience you lack. You'll have to share profits but what you gain should far outweigh the profits you give up.