Tips on finding MHP deals?

Question

Hey, all! This is my first post on BP. Could someone help suggest great ways to find mobile home parks that could be good deals? For example any lists that may be out there, googling strategies, broker relationships to find, etc. I’d like to make a list of however many parks necessary to get a deal, and then cold call, mail, etc. so also curious what methods of contact you might recommend. I’d love to go direct to seller of course, but the main goal is cash flow :)

Thank you!

Josh

Thank you!

Josh

Mario Dattilo · Answer

@Josh Busenbark

Letters

Postcards

Cold calling

Text

Emails

Assignments from wholesaler

Broker relationships (on or off market)

Vendor Referrals

Note purchases

Social media/influencer leads

FB groups

Speaking engagements

I know this is just a list but maybe it brings some good ideas to mind. 😀

Jason N. · Answer

Welcome @Josh Busenbark to BP. There are tons of resources and different approaches here. I'm sure you'll find something that fits.I was just speaking to someone recently who was looking to find mobile park owners. One of the best bets here is to get the property addresses - by driving for dollars or purchasing a list then skipping it. Since the parks are usually owned by entities (LLCs, corporations or trusts), you'll need to do an entity skip. I'll ping you about that piece. From there, you can mail, call, or text.

Brenden Mitchum · Answer

Hey @Josh Busenbark, welcome to the BP community!

There are really two main ways to find MHP deals these days:

1. Direct to seller: You will need to get your hands on a list of parks in the area of your choosing. Check MHU forums or ask around/take the bootcamp for a list. This will likely only be addresses of the parks so next step would be to skip trace the owner and their contact (phone and personal address). IMO, unless you have a ton of time and are experienced with skip tracing, best to just pass this off to a VA/service that has experience with this. Once you have the list of names and contact, you can cold call and/or direct mail the owners. Owners get a bunch of calls and letters every week so make sure you find a way to stand out from the masses.

2. Build relationships with brokers. This one is tough in the beginning if you have zero real estate investing experience or reputation. Best bet here is to find someone who's a bit new to the game and hungry since they'll be calling owners 24/7. But, just call up every broker in that area and let them know what you're looking for. Just make sure you have your finances in order first so that you can show them you're serious. If they're a bigger broker though, they're still going to only be passing you the scraps none of their repeat buyers wanted.

Hope this helps a bit! Please, feel free to reach out anytime if you have other questions or just want to chat MHP!