Marketing for newly acquired mobile home parks

11 Replies

Sup again BP family, As an update on a prior thread my group has purchased a MHP in Rock Hall, MD that I bird dogged and they have brought me on to help so I can learn more about the business. None of us have purchased a mobile home community before. We're doing major infrastructure changes and laying out plots to make them more attractive and removing junk trailers in preparation to stabilize the park and sell to another buyer. So what is the best way to locate single wide trailers? How do we market, advertise, incentivise new tenants? We have about 15 paying tenants now, and anticipate 36 total plots. Any advice/direction or references would be appreciated especially if you are interested/familiar with that area. Thanks, Michael
@Michael Tucker I'm very jealous of your acquisition! I am also wanting to buy a turnaround park. There is a park owner from my area that owns one and he gets lots filled from a local guy that owns a manufactured home dealership. But not new ones. Something I didn't realize or think about is people trading in mobile homes like they trade in cars. When's someone has a trade in deal he likes, he buys them. Normally, the dealer would take the trade in, he would have to haul the mobile to his own dealer lot, fix it up, & try to sell it. When the park owner buys the trade in before the whole process happens, they can take the trade in directly from wherever it is coming from to his park, and then he fixes it up himself. So he usually gets a pretty good deal this way. His park is about full now doing this, it has taken years though.

@derek that's a great thought I'll see what I can find! and we're interested in selling once we start the stabilization process so keep in touch!

21st Mortgage has the CASH program you might could look into.  The fastest way is going to be able to move them in yourself versus waiting on others. But some owners do move in specials in which they pay for part of moving cost if someone will move their home into the park. Or if they move in the first few months are free with a 2 year lease as an example. 

@Michael Tucker   you could call other parks in the area and ask the sellers if they have any homes that they want gone that you could purchase for cheap and renovate versus buying new homes and having a flooring line with curtailments that you have to make and pay on time regardless of if you have that particular lot filled with a paying tenant or not. 

just a thought

@Michael Tucker

Your most welcome, if you decide to go that route, let me know how that turns out for you. I'm willing to bet you may score a few trailers for fire sales if you know what I mean.