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Updated about 4 years ago on . Most recent reply
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Best Way to Contact Mobile Home Park Owner for Master Lease?
Hi BiggerPockets,
I apologize in advance for this newbie question. I am quite interested in a mobile home park that is listed for sale under a commercial real estate broker. I want to approach the owners to see if they would be interested in a master lease option, but I'm not sure the best way to contact the owner. I don't have a commercial real estate agent, and I'm not sure if it's appropriate for me to contact the listing broker directly? I would assume that the listing broker wouldn't be happy with an MLO agreement because they only get paid when the property sells?
My thoughts were that I could either: A) look up the owner on the county tax website and contact them directly (seems like this could offend the listing broker)? B) Contact the listing broker directly and tell them I'm interested in the property and then try to work with them to get in contact with the owner.. or C) Find a commercial real estate broker to represent me and work through them.
Now that I wrote everything down, it seems like my best option would be to find a local broker to represent me and let them know what I'm trying to do. This will also give me the benefit of starting a long-term relationship with them. What would you guys recommend for me as the best approach?
Thanks!
Brian
I apologize in advance for this newbie question. I am quite interested in a mobile home park that is listed for sale under a commercial real estate broker. I want to approach the owners to see if they would be interested in a master lease option, but I'm not sure the best way to contact the owner. I don't have a commercial real estate agent, and I'm not sure if it's appropriate for me to contact the listing broker directly? I would assume that the listing broker wouldn't be happy with an MLO agreement because they only get paid when the property sells?
My thoughts were that I could either: A) look up the owner on the county tax website and contact them directly (seems like this could offend the listing broker)? B) Contact the listing broker directly and tell them I'm interested in the property and then try to work with them to get in contact with the owner.. or C) Find a commercial real estate broker to represent me and work through them.
Now that I wrote everything down, it seems like my best option would be to find a local broker to represent me and let them know what I'm trying to do. This will also give me the benefit of starting a long-term relationship with them. What would you guys recommend for me as the best approach?
Thanks!
Brian
Most Popular Reply
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Buyer side in commercial real estate you typically won't have an agent. It is most common for you to talk with the listing broker directly. They have the deal listed, personally I would not try to work out a deal with the owner right now while a broker has it.