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

In this episode of The MHP Broker’s Tips and Tricks Closing Cocktails podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed newbie broker Jeff Dodge on his first sale for the firm.

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:

• New broker Jeff Dodge was asked to review his first sale for The MHP Broker,which was a West Virginia deal. (Max, 1:01)
• Mountain View is located in the mountains of WVA, in Marlington, which is about 30 minutes from Snowshoe Mountain Resort. Mountain View is a hybrid community, consisting mostly of mobile homes, but also including some stick-built cabins and an RV pad. The homes were all occupied at the time of the listing, but there were also four vacant lots for a value-add opportunity for the next buyer. It was a well-run mom and pop operation. Although the seller’s daughter is a real estate broker, they sought out The MHP Broker for their specialized market knowledge. (Jeff,  1:19)
• The buyers were able to get a bank loan from a source they already knew in the area, and the property appraised over value, so there were no issues with financing. (Jeff, 2:58)
• Another key sales advantage was city water and 1:1 sewage. (Max, 3:13)
• Jeff thought the community’s secluded rural location would make it a hard sell, but he was pleasantly surprised to learn that it didn’t. He ultimately closed with the first prospective buyer who went under contract. (Jeff, 3:35)
• The deal closed in about 30 days. The buyer was someone the company had worked with before, so he came to the deal well vetted. That helped the process immensely. (Jeff, 3:53)
• Jeff also realized that another factor in the success of and trouble-free nature of the transaction was the constant communication with the seller/client. This was a great way of heading off issues before they became problems, and keeping trust and confidence high between the two parties. (Jeff, 4:16)

Mountain View in West Virginia is one of the latest examples of the positive impact The Mobile Home Park Broker can have in delivering quick community sales at top dollar. Contact The MHP Broker’s Jeff Dodge or Max Baker at (678) 932-0200.

Power Quotes in This Episode:

“When it comes to brokers, better to be a mile deep than a mile wide. And here at the firm, we are definitely a mile deep (in experience in this real estate market niche),  and a lot of park owners choose to work with us because of that. We’re just extremely niched, we’re able to bring in buyers a lot quicker than a lot of different people out there that are trying to sell communities because, like I said, we specialize in this. 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, 2:15)

“I had a lot back and forth with the seller. But the more communication, I believe, that you have with your client, the more they’ll have that trust in you to get to the closing table.” (Jeff, 4:16)

00:02

Hello and welcome to the mobile home park brokers tips and tricks. This is the podcast where we talk about mobile home park investing, because that’s what we’ve been involved in for the last decade. Let’s dive into today’s episode. Here’s your host, Maxwell Baker.

00:22 Maxwell Baker

Hey y’all welcome to a another beautiful episode of the mobile home park brokers tips and tricks, podcast. As always, this episode is brought to you by you guessed it, the community price Maximizer. It is our proprietary system that will guarantee you a higher price. When you exclusively list with us for Step Program. Give us a call 678-932-0200 happy to chat with you. And today we actually have a another closing cocktail with an up and coming star. Jeff dodge. Welcome to the show, man.

00:59 Jeff Dodge

Thank you, Max. Happy to be here.

01:01 Maxwell Baker

Yeah, man. It’s exciting. And this your first time being on the podcast. Congrats on closing this little base hit double. How are you going to look at it up in West Virginia. Tell us a little bit about the deal and how we were able to I think it was just an off market deal. I can’t remember.

01:19 Jeff Dodge

Yeah, it was actually a listing. exclusive listing we had with the seller for Mountain View. Yeah, really nice park, beautiful scenery up in the mountains of West Virginia, located in marlington, to about 30 minutes from the snowshoe resort. It was a hybrid community, which mostly MH with a few small cabins, a few farms are a couple small stick built homes, and then an RV pad as well. So nice little mix, there was a really well run operation, the seller actually built it into a full occupancy turnkey operation, it was full occupancy as far as all the existing homes are fully occupied. But then there were four vacant lots as well, to provide some value add opportunity for that next buyer. It was a mom and pop operation. But there was real estate experience in the family, particularly the daughter who was licensed so she could have listed the property for them. But they decided to list with us because of our expertise in the space.

02:15 Maxwell Baker

Well, that’s always great to hear. When it comes to brokers better to be a mile deep than a mile wide. And here at the firm, we are definitely a mile deep and a lot of park owners choose to work with us because of that we’re just extremely niched, we’re able to bring in buyers a lot quicker than a lot of different people out there that are trying to sell communities because like I said, we specialize in this. And if you’re listening to this podcast, you know, that’s all we talk about. Is mobile home and RV communities and and help them get done. So tell us a little bit how did the financing because financing is a pretty hot button these days, especially with where rates are at. Tell me how you got the deal financed with a buyer.

02:58 Jeff Dodge

Actually, they had a bank loan, which ended up being appraised over value. And then everything was was smooth from a lending perspective, working with our own Eric lock was a broker for the buyer. So they actually got funding through a bank that the seller actually knew of in that area.

03:13  Maxwell Baker

Nice. Very cool. And it was on city water you said right. That’s exactly right. Okay, one to one septic.

03:21 Jeff Dodge

Yes. One on one, something nice, ever.

03:23 Maxwell Baker

better, man. So give us a couple of things that you learned while doing this deal being that was your first deal that you’ve closed with the firm like, what do you think were the biggest aha moments you had while putting this deal to the finish line? Yeah.

03:35 Jeff Dodge

Well, first off, I also want to include that it wasn’t to be in a rural location, you know, thought that may be a challenge. But that wasn’t an issue at all, for us to find a good buyer and it was actually the first buyer that we went under contract with we ultimately closed with.

03:49 Maxwell Baker

That was great and how quickly did we find a buyer for this deal?

03:53 Jeff Dodge

It was within proximately 30 days, we dealt with some other buyers, but ultimately came in contact with this buyer that we’ve worked with before on other deals closed with before. So they were well vetted and ultimately worked out really well this process.

04:08 Maxwell Baker

Nice man. Well, great. Well, that’s pretty much it was just a quickie, little deal. explanation. Any other closing comments here before we wrap it up.

04:16 Jeff Dodge

Yeah. One other thing I’d add is that I kind of realized finesses the more communication because it was a lot of communication. I had a lot back and forth with the seller. But the more communication report, I believe that you have with your client, the more they’ll have that trusting you to get into the closing table.

04:32 Maxwell Baker

Yeah, man. Most definitely. So if you guys are thinking girls or guys are thinking about selling your mobile home community, give us a call. Talk to Jeff. He’s in the market. He’s grinding. He’s making those calls. He’s kicking up deals. We’ve got new deal flow every week. And we’ve got new sellers that are looking for advisement on what they can do to increase the broker opinion of value or broker price opinion for their community and we’ve got a lot of tips and tricks on how we can help boost that price that we feel the market will bring. So give us a call 67893202006789320200 and we can chat, talk about it plan and make it happen and as always, we will be moving forward. Have a good day all thanks for listening.