In this episode of The MHP Broker’s Tips and Tricks podcast Closing Cocktail, Maxwell Baker, president of The Mobile Home Park Broker, interviewed his brokers Eric Wanck and Jeff Dodge, the team that worked together to close a particularly tricky recent transaction.

As with every Tips and Tricks podcast episode, this one is brought to you by The MHP Broker's proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Call Max for details.

Here Are the Show Highlights:

• Jeff and Eric worked together to successfully close a park with plenty of challenges, from the condition of the park-owned homes to the disinterest of lenders. A lotta drama, but they got it done. (Max, 0:22)
• It was a multi-parcel community that had been bron up some through previous land sales. The park mostly had park-owned homes, which can present problems finding financing. There was county water and sewer, which is advantageous, and the books and records were clean and complete. But the buyers had to apply to multiple lenders before finding a hard money source. (Eric, 1:13)
• The buyer got turned down by about a half dozen lenders before finding their hard money resource. (Eric, 2:11)
• There was some value-add to the park in terms of the new buyer being able to raise rents and bring in new homes, so it was advantageous for the buyer to go through all of the hassles of finding a lender. (Eric, 2:13)
• The buyer was visionary and saw the park’s long-term potential. He knew he could quickly add value by bringing in new homes and fixing up some of the existing inventory. (Jeff, 3:04)
• The market is healthy and vibrant right now. Parks are moving, and the MHP Broker teams was able to close this sale to everyone’s satisfaction despite the challenges. They can do the same for you. (Jeff, 5:24)

Regardless of the particular challenges that your mobile home park or RV community present, you can trust The MHP Broker to find a way to get to a successful close. Call Eric Wanck, Jeff Dodge or Max Baker at The MHP Broker, (678) 932-0200. Or drop us a line at info@themhpbroker.com.

Power Quotes in This Episode:

“This was more difficult than we envisioned from the start…That’s what we do. We never take no for an answer. Long story short, we went through multiple lenders to…eventually find some hard money lenders.” (Eric, 1:13)

“So yeah, we got it done. THe buyers actually had a good source of hard money. There was some value-add, they’re going to bring in some new homes, so it all seemed to work out at the end of the day to get it done.” (Eric, 2:13)

“They were mostly older homes and needed some work, but the buyer saw, you know, great opportunity with this park, going to bring in some new homes, raise the rent. So, they really saw the vision and stuck with it.” (Jeff, 3:04)

“Yeah, so this deal, like I said, was not an easy deal to get funded. We had multiple community banks sniff their nose at it but our team was bold, determined, and consistent. So, that kind of behavior is what you expect that you will receive here at The Mobile Home Park Broker when you give us the listing on your community, RV or mobile home park, or even in this case, it was a land-home package neighborhood.” (Max, 3:21)

“We're not those white glove brokers that only work on white glove deals…we get dirty, we know how to sell the ugly stuff. But don't get me wrong, we will do the white glove stuff (too).” (Max, 3:58)

In this episode of The MHP Broker’s Tips and Tricks Closing Ccktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed The MHP Broker Eric Wanck about his Bailey Acres Mobile Home Park transaction near Chattanooga.

As with every Tips and Tricks podcast episode, this one is brought to you by The MHP Broker's proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Call Max for details.

Here Are the Show Highlights:

• Max wanted to discuss Eric’s Bailey Acres deal because there were some challenges. It was a development project with a lot of infilling required, and there was a bit of drama as a result of the park’s interaction with the local bureaucracy. (Max, 1:19
• Eric loved the deal because, in the first place, it was a prime location, just south of Chattanooga, a thriving metro. The park was just 20 minutes from downtown Chattanooga. And while a lot of infilling was needed, the infrastructure was in place. It had city water and a 1:1 septic system. It was also getting $400 a lot, a good rate. The park had been neglected for a few years, so it did need some major sprucing up by the new ownership. (Eric, 1:31)
• As far as the city was concerned, the park had too many pads for its size, and some would have to come out. Eric and the eller went back and forth on that for a while. In the end, they had to lose about four pads. But they found an experienced park owner/buyer from Georgia who knew what he was doing. The seller was very happy with the sale price, which went for about $20,000 a pad, a very good deal for a park in such need of infilling. (Eric, 2:31)
• Part of the buyer’s financing came from 1031 exchange. That’s funding generated by the sale of a similar project. If spent on a like project within a limited time, there’s less capital gains taxation on the previous sale. (Eric, 4:06)
• The buyer was able to get additional financing through a pre-existing relationship with a local bank, so he came to the table fully funded. This was important because the seller didn’t want to hold a note, so it worked out to everyone’s advantage. (Eric, 4:08)
• Max reminds sellers that there are a lot of 1031 exchange users out there, and they’re all motivated to find a seller and a quick deal–and they’ve got money! We’ll help you find them. (Max, 4:44)

While Max can’t guarantee a sale price of $20,000 per vacant pad on EVERY sale, he can assure you of getting the best price possible on every deal, thanks to he efforts of savvy veteran brokers like Eric. Call Eric Wanck or Max Baker at The MHP Broker, (678) 932-0200 or drop us a line at info@themhpbroker.com.

Power Quotes in This Episode:

“I felt that the location was strong enough that eventually we would find a buyer, and lo and behold, we did just that.” (Eric, 1:31)

“Seller's happy at the end of the day, I believe, because we stuck firm to what he wanted and we got nearly, I think about $20,000 a pad.” (Eric, 2:31)

“You know, the higher the lot rent, the more money you're gonna get, obviously, because there's more demand.” (Max, 5:04)

“Really happy to be involved on this one, and look forward to more deals where we can infill. I think there's going to be more that hit the market, and this is going to be opportunities for some investors out there. Doesn't have to be the 100-plus pads that the institutions are chasing. You know, this one's sold high fives (CAP rate). We can get them done.” (Eric, 5:25)

“I mean, it was unreal the response we got. Received multiple offers and then went to work with competing offers and got it sold actually over ask price. The seller was very happy with that.” (Jeff, 4:09)

“It was a couple hundred grand over ask price with multiple offers that were competing.” (Jeff, 4:26)

The worst thing you can do is have a (investment) fund just sitting there. (Explaining why an investor might overpay on a good deal vs. doing nothing with their money.)” (Max, 5:24)

In this episode of The MHP Broker’s Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed The MHP Broker Jeff Dodge who teamed up with Max to close a park in the Charlotte, North Carolin metro.

As with every Tips and Tricks podcast episode, this one is brought to you by The MHP Broker's proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Call Max for details.

Here Are the Show Highlights:

• Jeff and Max worked together on te Mountain Village Mobile Home Park deal in Gastonia, NC. It came amidst a real hot streak for MHP Broker. The company was incredibly busy the first part of 2025, especially compared to two years ago, before the presidential election. (Max, 1:10)
• It was a nice park in a good location, the Charlotte metro. Mountain Vilage had 46 lots and 40 tenant-owned homes, three vacant park-owned homes, two vacant lots and one rent-to-own home. The park had a high occupancy rate and strong demand. By the fact that most of the homes were tenant-owned, the maintenance costs and responsibilities were low and Mountain Village was mostly a turnkey operation. (Jeff, 3:24)
• The response to the deal was so great that Jeff received multiple offers and they ended up selling it for MORE than the asking price. (Jeff, 4:09)
• It didn’t go for just a little bit above the asking price either. It was more like a couple hundred thousand dollars over. (Max, 4:21)
• Jeff and Max were able to quickly get Mountain Village under contract with an experienced buyer. (Jeff, 4:26)
• The sale came in with a CAP rate in the upper sixes, which is virtually unheard of for a park with fewer than 50 lots. Great for the seller. The rate indicates that the buyer might have overpaid for the park. (Max, 4:38)
• The worst thing you can do as an investor is to just let your money sit there. So investors will sometimes spend it quickly oon what they consider to be a smart investment, even if they’re overpaying at that moment in time. Charlotte is a good housing market and the buyer obviously felt it was advantageous to buy the property at whatever he had to spend. (Max, 5:24)
• As great as the sale was, it didn’t go off without a hitch. The seller had two park-owned homes that weren’t occupied. He’d agreed to sell them before the park sale or give them up for nothing if he didn’t have them sold in time. But he evidently forgot that term pf the deal until the sale was about to go through and the buyer got ready to take possession of the two homes for free. When reminded of the terms of the deal, the seller refused to give up the homes for nothing. That drama at the end nearly killed the sale. (Jeff, 6:49)
• Jeff saved the sale by getting the buyer and seller to agree to a compromise by which the seller would keep the homes in the park until they were sold and pay lot rent on them in the meantime. The new buyer had aggressively raised lot rents and the seller agreed to pay the higher rate. Both buyer and seller were happy with the negotiation and the park sale closed. (Jeff, 8:12)
• Whether you have a big park or a small one, you can trust MHP Broker to get through whatever issues might occur and get the park sold. (Jeff, 11:08)

The MHP Broker has sold parks of all sizes and complexity. Even if you’re just thinking of selling it at some point in the future, we can evaluate your property and calculate its market value. Call Jeff Dodge or Max Baker at The MHP Broker, (678) 932-0200 or drop us a line at info@themhpbroker.com.

Power Quotes in This Episode:

“Everybody says the market's down, but here at our brokerage yeah, I don't know, we're just killing it, man. Like, we've had more contracts fly across the desk at the beginning of 2025 than we've ever had as a company as a whole. (Max, 1:10)

“I mean, it was unreal the response we got. Received multiple offers and then went to work with competing offers and got it sold actually over ask price. The seller was very happy with that.” (Jeff, 4:09)

“It was a couple hundred grand over ask price with multiple offers that were competing.” (Jeff, 4:26)

The worst thing you can do is have a (investment) fund just sitting there. (Explaining why an investor might overpay on a good deal vs. doing nothing with their money.)” (Max, 5:24)