These last few weeks Kate and I have been developing our strategy to purchase our first mobile home park. I officially left my ad tech career last week and am loving the amount of time I have had to dedicate to looking for a mobile home park! Kate and I are excited to find a mobile home park after attending Mobile Home Park University and have been working on our strategy. Our number one priority is finding our first deal!
Finding Deals Online
This involves analyzing deals from mobilehomeparkstore.com and loopnet.com. When we find a deal that has potential and fits our criteria, we contact the broker or owner to get more information. We have a few parks on our radar and I am hoping we can get one of those under contract soon.
Finding Deals Off Market
Analyzing deals through these websites is a great way to connect with sellers, however, we are only scraping the surface of reaching mobile home park owners. On average, there are less than 500 parks for sale online out of the 44,000 parks within the United States. In order to reach a larger group of owners, Kate and I are working on a direct mail campaign.
How to Create a Mailing List:
- States to Focus On: We are open to purchasing parks in any state with the exception of the west coast and southeast states (saturated/expensive markets and hurricane issues). For this first round mailers, we focused on 5-6 states around Ohio since I will be within the area.
- Metro Areas: Find all metro areas that have a population over 100,000 within our select states. Eliminate any parks that did not fall within the select metro areas
- Walmart: Walmart and McDonalds do intense market research to determine the location of each store. If a city was good enough for them, it was good enough for us.
This brought our list to around 2,000 parks
Creating a Postcard:
- We created a phone number that will connect to our cell phones
- Shared email address in case the owner prefers to contact via email
- We used Vistaprint to create the postcard
- Vistaprint mailing services will send the postcards to our entire mailing list
Our strategy for the direct mail campaign is to set ourselves apart from our competition. We were able to see some sample postcards at Mobile Home University. While they had great information, the overall look was a little boring. If everyone that attended the seminar created postcards that mirrored the examples we were given, what would set us apart from the pack?
Here is one example from the course:
We decided to give our postcards a little more style. We highlighted that we are mothers who want to create beautiful communities for the residents. I then added our pictures for a personal touch.
We are excited to get these postcards in the mail and find our first deal!
If purchasing mobile home parks is interesting to you, check out why we want to invest in mobile home parks!