The Benefits of Utilizing Mobile Home Park Instant Offer
Owning a mobile home park can be challenging. Unfortunately, many people inherit a mobile home park, purchased it years ago, and no longer possess the financial capital to manage it effectively. For others, maintenance and dealing with tenants proves challenging. If you are considering selling your mobile home park, you should work with Mobile Home Park Instant Offer.
Why is selling a mobile home park hard?
Many realtors do not actively participate in mobile home park sales. Typically, realtors do not want the headache of dealing with a multi-family living environment. Also, there is the challenge of dealing with existing tenants.
Many mobile home parks are located in rural areas, where there might not be a suitable prospective buyer. Many potential buyers will find their ideal mobile home park through non-conventional channels, such as a bank or a more significant commercial type of realtor.
Also, financing a mobile home park purchase can be difficult. In the early 90s, many buyers put a minimal amount down when purchasing. Today, a potential buyer needs a significant amount of capital to finance the purchase of a mobile home park.
Why sell your mobile home park for a fast cash offer?
Many older or rural mobile home parks need a significant overhaul or require a lot of maintenance. For example, some parks lack submetering. Others may have dilapidated sewage or on-site drinking water that needs an upgrade.
Uninhabitable lots also plague older trailer parks. Broken-down mobile homes and damaged utility connections are common reasons lots stand empty. In addition, vacant lots are problematic because they are not earning rent.
Another problem with older mobile home parks is the current tenant base. A particular trend with family-owned mobile parks is that the owner has a history of being too flexible on late rent payments. As a result, a tenant might fall behind on rent or pay rent when they can.
Some family-owned mobile home parks might have an issue with low rents. Since a landlord has a particular rapport with their tenant base, they might feel bad raising rent over time. As a result, rent might stand unchanged over five to ten years, making the park less of an income generator.
What does a real estate investor do with a mobile home park?
A real estate investor like Mobile Home Park Instant Offer takes on a troublesome mobile home park as an opportunity. They give the owner a fast cash offer and use their capital to reinvigorate the park. Over time, their development efforts result in:
- A better community for the tenants.
- A living environment that is suitable for the tenants.
- A mobile home park that attracts and entices the correct type of tenants.
Ultimately, accepting a fast cash offer will result in better use of the property over time and potentially take a headache off of the owner’s plate. Let Mobile Home Park Instant Offer be your partner when you want to sell your mobile home park.