Investing 101: How to Find and Market for Mobile Home Deals
When it comes to finding and marketing for mobile home deals, a lot of people seem to get hung up on the issue. It’s understandable.
As a beginner, you may not know where to start. There are so many methods out there. But how do you know which one works best for you?
(Note: Just in case you missed it, I go over the methods that have worked best for me in more detail when looking for mobile home deals here. Thanks for reading!)
Though, I will say this is my favorite part of mobile home investing: finding motivated sellers and negotiating deals. Notice I said “finding motivated sellers,” not deals. But why? Because you don’t find deals. You make deals through negotiating.
So I decided to make a post specifically on the subject. And my top picks for doing it. Here they are:
Top Methods for Finding Motivated Sellers when Investing in Mobile Homes
- Referrals from Park Managers and/or Mobile Home Park Owners
When it comes to finding motivated sellers in the mobile home investing business, the best and most highly effective method that has worked for me has been receiving referrals straight from the park managers and/or owners of the mobile home parks themselves. Usually, they will have the majority of information you need on the seller and the home. In many cases, the owners themselves ask the gatekeepers (aka park managers and/or park owners) who they can talk to when they need to sell. This is where you come in.
(Note: Though there are parks who buy homes from residents, not all of them do. If you can get learn to build relationships with gatekeepers, then you’ll soon find yourself with a steady stream of opportunities to buy mobile homes.)
Though it does take time to build relationships with park managers and/or mobile home park owners, once you’ve got a few willing to help you out it’ll make things easier when it comes to finding motivated sellers and putting deals together.
- Marketing In and Around Mobile Home Parks
Another method of finding motivated sellers that has worked for me has been marketing in and around mobile home parks. On my first deal, the sellers found me through a flyer I passed out around the neighborhood (of course with the park manager’s permission!).
During that time, I also put up flyers and signs around the parks I wanted to do business in. It made sense to target my marketing where these people lived and shopped. And guess what? It worked.
(Note: If you’d like to learn more, I go into more detail on these marketing methods here. Thanks for reading!)
By constantly marketing in and around mobile home parks, you’ll start to get calls. Even if these people aren’t ready to sell now, they may in the future. Or even know someone in the park wanting to sell. Be persistent. And stay in touch on a regular basis. Eventually you’ll find an opportunity.
- Referrals from Mobile Home Dealerships
Getting referrals from local mobile home dealerships has been another way of finding motivated sellers that has worked for me. Building relationships with the dealers in my area has been an important part of my marketing plan.
In the beginning, I gave presentations to the sales teams of many mobile home dealerships in my area. (I even brought in donuts!) By establishing trust and educating the sales staff on what I do and what I look for, I receive a steady stream of mobile home leads.
For anyone not familiar on how mobile home dealerships work, they are usually there to sell new homes to customers. When potential customers call interested in buying new homes, many need to sell their old homes (whether in mobile home parks or out on land) in order to buy new ones. This is where you come in.
In addition to receiving leads on buying used homes, mobile home dealers are also good sources of information to stay updated on the area and the local industry. I’ve received news updates and tips from these folks just by stopping by and/or giving them a quick call to touch base. The knowledge you gain is priceless. But you have to take the time to get to know them so they can get to know you.
- Referrals From Mobile Home Contractors and Maintenance Employees
Another method that has helped me to find motivated sellers has been referrals from other mobile home contractors and maintenance employees. These people have been instrumental on giving me the latest scoop on what’s going on in the park and the residents living there.
If you think about it, mobile home contractors and maintenance employees see things everyday just by being out in the park (as does the park manager and/or owner!). So of course they’re going to get to know the residents and everyone living there. It’s just a matter of time before someone mentions they need to sell. And voilà: another lead in your funnel!
(Note: If you’d like to learn more about finding and working with contractors, I talk more about it here. Thanks for reading!)
If you can build relationships with mobile home contractors and maintenance employees in the parks you want to do business in, then you’ll know firsthand who needs to sell before anyone else. And you’ll be buying homes without people even knowing they’re on the market!
Conclusion
So there you have it, the top methods of finding motivated sellers that has worked for me when investing in mobile homes. Sure there are more methods you can try, but these have turned out to be the best use of my time based on experience.
(Note: If you’d like to learn more about the different marketing methods I’ve tried and what’s worked for me in my entire real estate investing career, I talk about it here. Thanks for reading!)
Remember, real estate is a people business. And having a good team can make or break it. Put the time and the effort to build a great team and it will pay off in the end.
Hope this article has been informative. If you still need help, I also offer mentoring for those who need it. Feel free to contact me with any questions.
Happy investing!
