Do You Use an Agent to buy a Mobile Home Park?

Mobile Home Park Investing
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Do You Use an Agent to buy a Mobile Home Park?

Trey Malone
Rental Property Investor · Amarillo, TX · Member since 2019 · 15 posts · 8 votes

Merry Christmas!

I’m just coming off of a live-in flip and looking to buy a mobile home park. I’ve spent quite a bit of time self-studying the niche over the last couple of years in preparation, and am attending mobile home university in Orlando next month, but I haven’t run across a straightforward answer to this question

So - how about it? Anyone out there who has purchased an MHP - did you work with an agent, and did you bring him or her in during your search or after identifying a park you wanted to make an offer on? Is it customary for the seller to pay the buyer’s agent’s fees when purchasing an MHP?

Thanks!

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Shawn G.
Rental Property Investor · Orlando, FL · Member since 2017 · 207 posts · 125 votes
6y

@Trey Malone Our team currently owns and/or is under contract on 3 RV Parks & 3 MHPs here in Central Florida. All but one of those was found with the help of a Broker.  Loopnet & crexi can both be great places to start. Look in the markets you are interested in and contact the agents who have those listings. Get on their list and go from there.  The 1 park we did not get from an agent, we actually acquired through a direct mail campaign.  I live in Orlando, but unfortunately, will not be able to attend the conference next month due to a scheduling conflict. I do however, have a couple of friends attending. Open to meeting while you are in town though. 

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  • Tyler GibsonBusiness Member
    Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
    6y

    @Trey Malone If the property is listed on the MLS then I would expect that the listing agent would pay a commission split to a buyers agent.

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  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    6y

    @Trey Malone they are typically not listed on the MLS. Go to @Frank Rolfe's MHU Bootcamp before you do anything.

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  • James Hamling
    Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
    6y

    @Trey Malone I have never known of anyone doing a MHPark deal from or on the MLS, and everyone I have worked with has been non-MLS. Their is some agents out there who specialize in MHParks, I have never used one nor any investor I know but some must. Generally speaking when on the hunt we simply went to the Parks we wanted/liked and approached owners and worked it from there, not very hard to find them and you never know if selling is a potential until you ask. Everyone has a #.

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  • Trey Malone
    OP
    Rental Property Investor · Amarillo, TX · Member since 2019 · 15 posts · 8 votes
    6y

    @Tyler Gibson thanks so much Tyler - that makes sense.

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  • Trey Malone
    OP
    Rental Property Investor · Amarillo, TX · Member since 2019 · 15 posts · 8 votes
    6y

    @Jordan Moorhead

    Thanks for the advice Jordan. I am actually going to Frank’s class in Orlando in January and am thumbing through the self study books right now. The material has not disappointed so far!

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  • Trey Malone
    OP
    Rental Property Investor · Amarillo, TX · Member since 2019 · 15 posts · 8 votes
    6y

    @James Hamling

    Thanks James! Good to know what the norms are.

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  • Wade Coons
    Contractor · Houston, TX · Member since 2019 · 8 posts · 6 votes
    6y

    @Trey Malone Trey, I’m going to the event in Orlando next month also. Looking forward to meeting you!

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  • Todd Murphy
    Investor · Indianapolis, IN · Member since 2018 · 63 posts · 55 votes
    6y

    @Trey Malone the best deals are off-market in most any REI asset class. There are still deals to be made out there that aren't listed.

    It takes time in some cases, but reaching out weekly is how I have built my pipeline out. Podio is great for managing this.

    All the best and Merry Christmas!

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  • Trey Malone
    OP
    Rental Property Investor · Amarillo, TX · Member since 2019 · 15 posts · 8 votes
    6y

    @Wade Coons

    Awesome Wade! I’m looking forward to meeting you as well. I’ve heard nothing but good things about MHU.

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  • Trey Malone
    OP
    Rental Property Investor · Amarillo, TX · Member since 2019 · 15 posts · 8 votes
    6y

    @Todd Murphy

    Thanks for the tip Todd. I’m exploring the parks in my area and the ones along the way when I travel - I’ve made a few cold calls but I definitely need a marketing campaign. I’ll check out Podio, on your recommendation.

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  • Randy Sundquist
    Real Estate Professional · Raleigh, NC · Member since 2017 · 9 posts · 2 votes
    6y

    @Trey Malone

    I would try contacting Property Management Companies in the area that specialize in MH Parks to see if they know of any for sale. Wouldn’t use realtor save on commission costs.

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  • Trey Malone
    OP
    Rental Property Investor · Amarillo, TX · Member since 2019 · 15 posts · 8 votes
    6y

    @Randy Sundquist Awesome, Randy. Thanks for the tip!

    0Reply
  • Shawn G.
    Rental Property Investor · Orlando, FL · Member since 2017 · 207 posts · 125 votes
    6y

    @Trey Malone Our team currently owns and/or is under contract on 3 RV Parks & 3 MHPs here in Central Florida. All but one of those was found with the help of a Broker.  Loopnet & crexi can both be great places to start. Look in the markets you are interested in and contact the agents who have those listings. Get on their list and go from there.  The 1 park we did not get from an agent, we actually acquired through a direct mail campaign.  I live in Orlando, but unfortunately, will not be able to attend the conference next month due to a scheduling conflict. I do however, have a couple of friends attending. Open to meeting while you are in town though. 

    1Reply
  • Trey Malone
    OP
    Rental Property Investor · Amarillo, TX · Member since 2019 · 15 posts · 8 votes
    6y

    @Shawn G. Thanks for the input Shawn! Also, the dog in your photo is a great looking dog.

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