How To Sell a Mobile Home Park
Are you considering selling your mobile home park?
- You plan to relocate and don’t want to manage the park long-distance.
- You’ve had the park for years and are tired of the responsibility.
- You inherited the park and have no desire to keep it.
- You’re losing money on the park and want to ditch it.
Whatever the reason, you’re now exploring how to go about selling your trailer park.
Three Ways to Find Mobile Home Park Buyers
There are three main ways to sell a mobile home park.
1) Look for retail mobile home park buyers and sell to one of them, handling all the details yourself.
2) Hire an experienced real estate broker that specializes in mobile home parks.
3) Sell the park directly to an investor.
How to Find a Private Buyer
Utilize the online marketplace to search for a retail buyer. To get your listing before as many people as possible, post it both on lesser-known sites and on popular sites. Cast the net as wide as possible.
Consider these free sites for posting your listing:
Craigslist, Zillow, Facebook, ForSaleByOwner, Letgo, Owners.com, Fizber, Oodle, Asset Column, FindMyRoof, AdLandPro, USFreeAds, FreeClassifieds, WebClassifieds, AdsGlobe, Sell.com, and PennySaverUSA.
When creating a listing, include the following: a detailed description of the park (with stats, such as number and size of lots); a description of the area surrounding the park; good quality photos; actual income statement; projected income statement; expenses statement; and terms of sale, including whether or not financing is available.
In your listing, give the location a general state tag (i.e., Florida) if you don’t want residents or the manager to know that the park is for sale.
How to Find Mobile Home Park Brokers
In looking for a mobile home park broker, start locally. Search for “mobile home park brokers near me” and explore the resources that the query generates. Call local real estate companies and ask which of their brokers specialize in handling mobile home park sales. Then make appointments for in-person conversations. Interview at least three brokers before selecting one.
Go broader. Visit the website of your state’s professional association of real estate agents and search for brokers who deal specifically with mobile home park sales.
Increase Your Park’s Value Before Trying to Sell
To walk away with the most profit from the sale of your mobile home park, take one or more of these actions to increase the property’s value.
- Enhance the appearance. Spiff up the entrance and the common areas with repainted, updated signage. Fix potholes in the roads. Implement contests and rent discounts to encourage residents to maintain and beautify their yards.
- Fill empty lots. Offer new-resident incentives: reduced rent for the first year, coverage of home transportation, free installation of skirting, free steps, etc.
- Leverage vacant land. Offer secure boat and RV storage. Build mini storage units for residents. Sell billboard rights.
- Increase rents by a small amount to raise the per-lot value.
- Install water and sewer meters on each property. Residents will self-regulate usage since they’re paying for what they use.
- Remove problem tenants. Require adherence to park rules and get rid of tenants who cause regular problems.
Sell Your Park to an Investor
Selling to an investor is the third way to get rid of a mobile home park. It’s the simplest and fastest way to a sale since, generally, investors only require one or two basic inspections to determine the current market value of the property. They usually buy parks as-is, which means there is no need for repairs or improvements.
Selling your mobile home park to an investor bypasses a significant amount of work, uncertainty, and waiting. If you lack the funds to make repairs and improvements, or if you need to quickly get out from under park ownership, selling to an investor can be the best solution.
Mobile Home Park Instant Offer (MHPIO) is a mobile home park investor located in Texas. We buy mobile home parks quickly for cash anywhere in the United States. We’ve been in the real estate industry for over 12 years and have the resources to make this scale of purchase smoothly and with velocity. And we are proud to enjoy an unblemished reputation in the real estate investor community.
Yes, there are mobile home park brokers out there who will help you sell your park. But that route can take a long time with no guarantee of a sale.
MHPIO is an investor with the resources that enable us to buy your park as-is, outright and fast. No repairs are necessary, and we only do a few basic inspections to get information about the property. We’ve been in the real estate investment business for over 12 years and are rated A+ with the Better Business Bureau. Want to get out from under tenant management and mobile home park ownership? If you would like to sell your mobile home park quickly.