The MHP Brokers Tips and Tricks Interview with Broker Paul Schaaf and His Pine Meadows Closing

In this episode of The MHP Broker’s Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed broker Paul Schaaf regarding his successful close of Pine Meadows RV Park.

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:

• Pine Meadows was a very fun deal for Paul. The owners had bought a decrepit mobile home park, ripped out everything and transformed it into an RV park running on natural gas and high grade infrastructure. (Paul, 1:30)
• When they sold, their buyers financed the deal through a national lender that the buyer had successfully dealt with before. Paul and The MHP Broker helped by providing data that showed impressive rent growth over the last three to six months at the park. (Paul, 2:31)
• The only real challenge to the sale was the sellers listening to a friend who brought in a prospective buyer. But Paul’s buyer offered more money and better terms, and was better vetted by Paul. As a result of listening to Paul and accepting his buyer, the seller put some $100,000 more in their pockets than they would have if they’d considered their friend’s buyer. (Paul, 4:10)
• That other offer came through an old buddy of the seller. His buyer wanted 120 days for due diligence and was only offering a scant $1,000 in earnest money. Paul, along with his team, convinced the owners about what a bad deal that would be, and they delivered that much better offer at a much better sale price. (Max, 5:00)

A savvy, experienced broker makes all the difference and will put more money in your pocket. If you’re thinking of selling your mobile home park or RV community, call Paul Schaaf or contact Max Baker at The Mobile Home Park Broker, (678) 932-0200. You can also drop us a line at info@themhpbroker.com.

Power Quotes in This Episode:

Regarding the park sellers. “They ended up clearing six figures more, due to our recommendations and experience in the field.’ (Paul, 4:10)

…we saved them a boatload when it closed. So that was a really good part of the deal where the owner was just thrilled with our expertise and we put a big check in their pocket at the end of the day.” (Paul, 4:10)

“(We’re) here to put more money in owners’ pockets.” (Paul, 6:26)

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 another beautiful episode of the; you got it Mobile Home Bar brokers, tips and tricks podcast. As always, this episode is brought to you by the community price Maximizer. You’ve probably heard me say it a zillion times. But if you’re listening to it, I want you to memorize it just like I have, and is our proprietary system that will guarantee you a higher price when you exclusively list with us. You know, that’s kind of what carves us out compared to our competitors. We have excellent service. We’ve got excellent brokers. And our contract to close ratio, meaning when we put a deal under contract is probably one I would say not probably it is the highest in the industry. We are north of 80% of every deal that we put under contract closes. I know that for a fact, Jack. So today, we have Paul shock to really talk about the deal that he just closed Pine Meadows. Paul, welcome to the show love to have you here, buddy and let’s hear out the good, the bad, the ugly of this deal that we just closed here and take it homie.

01:30 Paul Schaaf

Yeah, appreciate it. Max, this was a fun deal. It was a very small market background on it was a decrepit MHP where the owners took it over and completely transformed it into a really nice RV park. So they completely ripped up the old infrastructure and place it with very high grade infrastructure, because that was their background and natural gas and had all the licenses. He’s a master plumber to do it and completely shut down the business and then took about a year to get it off the ground, really turned it into a very nice operating Park and the demand was was there for it due to it being steel country, there was a lot of work in the the demand for affordable housing was not there. It was just a perfect design setup for the area span.

02:28 Maxwell Baker

How did the deal get financed?

02:31 Paul Schaaf

The buyer ended up going through a pretty well known national lender, they had done a few deals with them beforehand, and performed and we were able to, you know, really help them with showing the growth of the rents and the seasoning. So, that I don’t think they would have taken it on if we didn’t really showcase how the park was performing in the last three to six months that really got the approval at the end of it. Nice.

03:02 Maxwell Baker

So, a lot of times y’all there are deals out there that we list that maybe don’t have the prettiest background or prettiest history, a lot of it has to do with management. So if you guys own a park out there on the internet’s that are listening, you can call us and ask for Paul, we can guide you through on how we can still maximize the parks value a lot better than most of our competitors do. We are the number one broker out there that can do that. Mobile Park broker I should say, that can help you with that case in point on this to the demand was there. It just needed better management, I think, we had, like three months of data, maybe a little more, maybe a little less, and was able to get it sold, and get it funded by a regular bank. So give us a call. happy to walk you through all the deals that all has done. Obviously you’d be calling us for Paul Schaaf at (678) 932-0200 and, Paul, do you have any closing comments or any words of wisdom that you can share for this one?

04:10 Paul Schaaf

Yeah, another part of this deal that the owner had someone in their network that thought they could do the deal and the owners initially wanted to go with in that direction. However, we were able to bring in a higher offer and a more vetted buyer with our research. They ended up clearing a six figures more due to our recommendations and experience in the field. The owner really appreciated that because we saved them a boatload when it close. So, that was a really good part of the deal where the owner was just thrilled with our expertise and we you know, put a big check in their pocket at the end of the day.

05:00 Maxwell Baker

Yeah, if I recall that deal that the owner had, that was one of their buddies gave them let’s be blind, a shit contract, like 120 day due diligence or some stupid and like $1,000 down or so I don’t know, for the earnest; it was your it was probably one of the stinkiest things I’ve ever seen as far as a contract and you know Paul and the team told the seller that and he’s like well I know him I know him I’m like I get that you know, we get that. But once you talked to this buyer over here, and the terms were way more attractive. And obviously Paul just mentioned that he got them a way more money. So Paul, and the team just killed it on steel. So Paul, congratulations on this and congrats to the team as well. He was talking to the seller a lot was very much involved, he’s out there hustling y’all bringing in more deals; so call Paul at that number I mentioned earlier I would say it again (678) 932-0200 and as always, this episode is brought to you by the Community Price Maximizer, it is our proprietary system that will got it get you the highest price when you exclusively list with us so, call us; Oh congrats again, buddy! Any other thoughts here before we sign up?

06:26 Paul Schaaf

No that was it, Max. A fun deal and looking forward to doing more. Here to put more money in owners pockets

06:32 Maxwell Baker

Yep, that’s what we do best y’all give us a call and let’s keep moving forward!