The MHP Brokers Tips and Tricks Closing Cocktails Podcast Interview with Paul Schaaf of The Mobile Home Park Broker

The Mobile Home Park Broker's Tips & Tricks To Investing

In this episode of The MHP Broker’s Tips and Tricks Closing Cocktails podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed leading broker Paul Schaaf on one of his latest deals.

Just like with every Tips and Tricks Closing Cocktails podcast episode, this one’s 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 up Max for details.

Here Are the Show Highlights:

- Paul Schaaf was The Mobile Home Park Broker’s top producer at the mid-year mark. He’ll talk about a recent challenging but successful transaction in Arkansas. (Max, 1:06)

- The sale had a few stumbling blocks that made it take longer to close than usual. For one thing, the owners had to do a lot of work before they could even list the park. It had been in bad shape when they acquired it, and they had to bring in new homes, improve the tenant base and get cash flow to the point where it would appeal to buyers. (Paul, 1:16)

- The appraisal went fine, but local banks were reluctant to get involved due to high interest rates and the presence of a lot of park-owned homes in the deal. Fortunately, the owners kept good books and showed how revenue had increased steadily. Paul found a motivated buyer who’d just sold a farming business and wanted to own a mobile home park, especially one that could add RV lots. The buyers had a good business plan and Paul was able to connect them with an ideal mortgage broker. (Paul, 2:23)

- The buyer got rejected a few times from lenders, and had to prove how they’d successfully run previous businesses, and collaterize some of their assets. So it wasn’t easy, but buyer and seller both ended up satisfied. (Paul, 4:03)

Regardless of the unique challenges and obstacles you might face, we think there’s a buyer for every park. Just make sure you sell through brokers who know the business and have connections that can help make the deal go through faster and at a better price--with fewer hitches. Contact Paul Schaaf or Max Baker at The Mobile Home Park Broker, [phone].

Power Quotes in This Episode:

“We've got the connections with the lenders, with the mortgage brokers, debt placement guys…We are very good at structuring deal stories, structuring debt and making sure you're getting the highest price when you exclusively list with us.” (Max, 4:36)

“Times are changing, but we’re the broker that knows how to evolve and adapt.” (Max, 5:43)