Good question, what are the steps and timing when you buy MHP from us? Here’s an outline of what you can expect:
- Start with a phone call, I tell you about the park and why we are selling and answer any questions you have about us.
- I’d like to know a little about your goals, real estate experience and how you plan to fund the purchase.
- I’ll send you any information you’d like about the park including a P&L and rent-roll and suggest you complete a drive through of the property within a couple of days.
- You write an offer and we meet to review, discuss and hopefully, come to an agreement!
- You pay the deposit and we open escrow.
- You start the due diligence process and I’ll provide any and all information you need to evaluate the park.
- You’ll engage lender(s) and work to secure financing.
- Close will be scheduled for a date that meets the seller and buyer’s mutual needs.
Total time from signing to close could be as short as 45 days. If buyer and seller have agreed to delay or time the close to coincide with other events, the target close date could be several months out.
We will provide consulting services if your needs are related to buying or selling a MHP. If you are a buyer or seller, here’s how we might be able to help.
- Draft, review or negotiate a purchase agreement
- Define, review or conduct a due diligence effort to evaluate a MHP from a financial, physical or environmental perspective
- Hire and assist the appropriate professionals with on site inspections including the evaluation of private utilities
- Meet, interview and evaluate maintenance & management staff and vendors
- Meet with a homeowner or homeowner’s group
- Prepare underwriting for the sale of a MHP
- Help define a sales plan including selection of a broker, marketing strategy, pricing strategy, etc…
- Contact and meet with potential lenders to secure financing for the park
My hourly rate is $100 + expenses or fixed fee for completing a specific task and deliverable. If you need consulting or property management services related to operational issues, I can provide you a list of people for consideration.
The current Rules and Regulation of the community apply to and will be enforced equally with all homeowners, tenants and guests. We typically distribute a copy of the rules to each homeowner at the beginning of the year and encourage you to read them “cover to cover.” If you have questions and/or would like a copy of the current rules, please call or email the on-site manager (contact information.)
How would you like to earn $100, $300 or $500? Yes, we pay referral fees to current homeowners who refer someone to us who makes a decision to live in one of our communities. Here’s what we will pay you if any one of the following occurs:
- Moves an RV into one of our RV spaces and signs a 2 months lease ($100)
- Buys a park owned home and signs a 12 months lease ($300)
- Moves a mobile home into the park and signs a 12 months lease ($500)
To qualify, you just need to provide the name and contact information to the on-site manager before the prospective homeowner makes contact with us. We’ll send you a check for the referral fee within 10 (2 month lease) or 45 (12 month lease) days of occupancy. Trust me, we love to pay referral fees! If you have questions, talk with the manager for the details!
Please find below the current contact information for the on-site managers in each of our communities:
395 Stanley Road #3
West Point, CA 95255
Tel: (209) 293-7252
Email: Mason Thompson
4265 Lakeshore Blvd #26
Lakeport, CA 95453
Tel: (707) 245-4482
Email: Bob Cummings
Black Butte MHP
6386 County Road 200 #31
Orland CA 95963
Tel: (530) 865-4317
Email: Caryn Brown
19142 N. Jack Tone Road #24
Lockeford, CA 95237
Tel: (209) 727-5862
Email: Roy Wales
Bend MH & RV Park
21795 Bend Ferry Road
Red Bluff, CA 96080
Tel: (530) 527-6289
Email: Pam Cappello
Sidney Mobile Plaza
2024 Sidney Draw Road #70
Sidney, NE 69162
Tel: (308) 249-7432
Email: Jacquie Krieling
If the manager is not able to assist you for any reason, please contact the off-site manager, John Vashon, (925) 640-7121 or John Vashon.
Just like sellers choose us, we choose buyers very carefully. Why? Because we want a hassle free transaction with a buyer who has the experience and resources to close and become a successful park owner. What do we look for in a buyer, what are our buyer criteria?
- A buyer who is sold on MHPs as an asset class they want to invest in and operate
- Previous real estate experience, likely owned and managed a single family home, small apartment building, etc…
- Has the means to complete the transaction including the down payment and good credit
- A buyer who will work with us to time the close to align with our goal of finding a replacement property and completing a successful 1031 exchange
- A risk averse buyer who values access to the property and the depth of information we will provide during the due diligence process
- A buyer who wants property management support and assistance for the first 90 days, post sale
We hope our buyers return again in the future to purchase another park from us. It’s an overused cliche’ but I’ll write it anyway, we work hard to ensure the deal is a true “win-win” transaction. If you are interested in working with sellers like us and buying one of our parks, please review our Buying Process and give us a call!
Whatever park you buy needs to be well aligned with your financial goals and buying criteria. If our park is a strong candidate, there are several good reasons why buying from us is to your advantage, especially for the first time buyer. Let me explain.
- We give you complete access to the property, the books, the managers, everything you want to see or know about.
- We will give you a long lead time before closing so you can evaluate, watch and get to know the property well in advance of making a purchase decision.
- If you want to use a broker or attorney to help complete the transaction, at your cost, that is just fine with us.
- We have a good due diligence checklist that you can use to evaluate the property (the more you know, the better!)
- We have a deep pool of lenders, inspectors and vendors which you are more than welcome to leverage.
- We can continue to manage the property for a period of time after the close to help ensure a smooth transition.
- We think our approach to doing business and our values differentiate us from other deals you may be considering.
At the end of the day, we want both parties to walk away feeling the both came out ahead, what’s often called a “win-win” transaction. It’s our hope that perhaps you’ll buy another park from us in the future. To learn more, check out our buying process!