The MHP Brokers Tips and Tricks Podcast Interview with MHP Broker Eric Wanck about his AL MHP Deal

In this episode of The MHP Broker's Tips and Tricks Closing Cocktail podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed The MHP Broker Eric Wanck about his Mobile Home Park transaction in Alabama. 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: Estate Drive was a deal they had out to market twice, and when it came back a year and a half later, it sold for probably $300,000 higher. (Eric, 01:35) The buyer was someone Eric had never worked with before, but he came through, had financing in place, and closed. (Eric, 02:14) It was a clean, turnkey community with paved roads, direct-billed city water, electronic payments, and management already in place. (Eric, 01:54) The property traded at a sub-8.5 cap on lot rent in a tertiary Alabama market. (Eric, 03:07) Max and Eric emphasized that every deal is different, and value comes down to local conditions, setup, and underwriting. (Max & Eric, 04:04) Power Quotes: "For the folks that missed the first time around, you're probably kicking yourself because a year and a half later we went back out to market, probably $300,000 higher and we got it sold." (Eric, 01:35) "The hardest part about this deal is just kind of coming to a number in terms, making sure that who was coming to the table was legitimate and had the means to close." (Eric, 01:54) "Never worked with this gentleman before, but he came through and financing fell in place for him." (Eric, 02:14) "DD was very smooth, we're not talking about any re-trades." (Eric, 02:14) "There's no apples to apples in this business, even if the park is across town." (Eric, 05:45)