The Mobile Home Park Broker's Tips & Tricks To Investing

The MHP Brokers Tips and Tricks Podcast Interview with MHP Broker Eric Wanck About His Shell Way DealIn 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 Shell Way Mobile Home Park transaction near Knoxville. 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 • This deal was a smaller transaction than what the team typically takes to market, and with the park needing a heavy lift, Eric wasn't sure what to expect. But within just two weeks of launching, multiple offers came in over asking price, driven by the property's location, upside, and city utilities. (Max & Eric, 01:17) • The park sat outside the Knoxville MSA but still drew strong interest due to its proximity to the Gatlinburg area and its overall desirability. Investors saw strong value despite the park's size and condition. (Eric, 01:51) • There was no fallout after the bidding process. The first buyer who went under contract made it all the way to closing thanks to proper buyer qualification and a smooth due diligence period. (Eric, 02:24) • The deal ultimately closed all cash, prompting Max's callback that it closed "caaaash money, y'all," reflecting The MHP Broker's ability to attract serious, ready-to-close buyers. (Max, 03:02) • Investor demand is so strong in this Knoxville/Gatlinburg corridor that Eric joked he wished he could find "six more" parks just like it for eager buyers. (Eric, 03:49) • From launch to close, the deal moved quickly—closing in just 45 days—showing the surprising strength of the market's response. (Eric, 04:08) • Max wrapped up the episode by highlighting The MHP Broker's 86% first-to-contract close ratio, driven by impeccable upfront due diligence. "Problems don't kill deals; surprises do." (Max, 04:59) Power Quotes "This deal… was surprisingly really, really sexy." (Max, 0:22) "Within two weeks we had multiple offers above asking… location and upside were everything." (Eric, 01:52) "The first buyer closed—smooth as butter." (Eric, 02:24) "It closed straight up… 'caaaash money, y'all." (Max, 03:02) "I just wish I could find six more of these up there." (Eric, 03:49) "We get deals sold—fast, the first time." (Max, 04:59) "Problems don't kill deals. Surprises do." (Max, 04:59) 00:00 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 is your host, Maxwell Baker. 00:22 Maxwell Baker Hey y'all. Welcome to another beautiful episode of the Mobile Home Park Brokers Tips and tricks podcast. As always, this episode is brought to you by the Community Price Maximizer. No pun intended there, it just actually happened to be named that. It is your proprietary system that will guarantee you a higher price when you exclusively list with us. Call us (678) 932-0200 and we will get you that price that you have dreamed of. Especially right now. The market is booming here at the end of 2025. But we are here to celebrate that Eric Wank just closed this deal, Shell Way, right outside Knoxville. Eric, welcome to the show. Congrats again on a closing, but damn, dude, this deal like was surprisingly real, really, really sexy. You had a tonne of people really getting into this deal, right? 01:17 Eric Wanck Yeah, yeah, no, thank you. One of my favourite things to get on here and talk about closing, closing property, and you're right, you know, this was an interesting deal from the start, a little bit of a smaller transaction size than we typically take to market repeat client though on our end and we said, hey, sure, no problem, we'll take this on for you and it was outside the Knoxville MSA probably certainly within a couple hour drive of the Gatlinburg area, very beautiful area of the country, and to be honest, taking this out to market, I wasn't sure what to expect. 01:51 Maxwell Baker Yeah 01:52 Eric Wanck Just given how much of a heavy lift this park needed and the size of the park, but within, I would say within 2 weeks we had multiple offers above asking price… 02:06 Maxwell Baker Yeah 02:07 Eric Wanck …which just showed that location, upside, two real big things right there, and it was on city water and sewer, which of course always helps when investors are looking at parks. 02:20 Maxwell Baker Yeah, man, tell us about the first time you put it under contract, we closed on it, right? 02:25 Eric Wanck That's right 02:24 Maxwell Baker There wasn't a fallout or anything? 02:26 Eric Wanck Yeah, no, we, we went through the bidding process with the highest and best, and, and those folks ended up closing. So, very smooth in that aspect, and that's what we want to see is qualifying, who we're bringing to the table and, and making sure that they get to the finish line the first time so we're not having to do it over and over but yeah, no, it was very smooth. 02:45 Maxwell Baker Yeah, man and it closed caaaash money. I remember some of these guys that I've worked with in the past. I think it was Frank Roth that mentioned it. He's like this guy in this mobile home park that he owned, said that, he would sell him his mobile home for 4000 caaash money. 03:02 Eric Wanck (laughs) 03:03 Maxwell Baker And, this deal closed, to quote that guy, caaaash money, y'all. So, if you need; if you've got a deal and you're looking for that cash money. That's, that's what happened here. Eric was able to pull, to pull from another podcast we just did, another rabbit out of the hat. We have a whole stable of rabbits here, because of all the magicians we have, AKA Eric Wank, pulling rabbits out of the hat and this deal was one of those. I mean, he got it done all cash, got it. Priced competitively, had it bid above market what we took it out, yeah, the seller was happy! Buyer was happy! Dude, any closing comments on this? 03:49 Eric Wanck Hey, I just wish I could find 6 more up there and I; 03:52 Maxwell Baker Oh, I know, seriously, right? (laughs) 03:54 Eric Wanck Probably some people listening that are, that are saying, yeah, no problem, Eric, send them my way, and I'm happy to do so as well, you know, that's, we are targeting a lot of these MSA areas, and that is obviously a pretty hot one given the activity we had on it, so. 04:07 Maxwell Baker Yeah 04:08 Eric Wanck But yeah, no, it's a very surprising deal from the, the onset, putting it to market. I really, I thought we were gonna be sitting, to be honest with you, but here we go, 45 days later, we were closed. 04:20 Maxwell Baker Let's go, baby. All right, y'all. Eric, thanks for jumping on the podcast with us here. Congrats on the closing! and y'all give him a call. He is the All-Star magician so far this year, top producer. You can reach him at (678) 932-0200. You've got deals, you've got beautiful deals, you got hairy deals, you've got development deals. We are the organisation that will get it sold and usually we get it sold really quickly and then the first time we don't fall. Most of our competition falls in and out of contract 10 times before they actually sell your park. 04:59 We have a high first to contract close ratio of 86%. That means when we put your park under contract, 86% of the time with the first buyer that we bring you, when you exclusively list with us, is going to close on your deal. No other competitors can, can tout that. We are the biggest firm that can do that, and Eric is a shining example here that was able to do that is because we do impeccable due diligence upfront on all of our exclusive listings. That way, you know, problems don't kill deals, but surprises do and we figure out what all The variables are so that way when we do put it on a contract, we've already got answers to all the problems. So, give us a call 678-932-0200. Happy to chat. Happy to talk high level. Ask for Eric Wanck. He is the man here at the firm and Eric, thanks for being here, buddy. Let's keep moving forward!

The MHP Brokers Tips and Tricks Podcast Interview with MHP Broker Eric Wanck Regarding His 5-Park North Carolina Portfolio ClosingIn this episode of The MHP Broker's Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, interviewed The MHP Broker Eric Wanck regarding his very challenging closing of a portfolio of five mobile home parks in North Carolina. 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: • Max introduced broker Eric Wanck and explained how Eric and his business partner had recently closed on a five-park portfolio in the Tar Heel State that came with plenty of challenges. That included a buyer who initially fell out of contract but then came back months later for round two. (Max, 00:22) • The prospective buyer initially came to the deal with a funding package he was trying to put together from among several investors. As what tends to happen when you have too many moving parts in a deal, the whole thing fell apart. The buyer's due diligence was also challenging, since there were something like 123 park-owned homes to look at, spread on some 172 pds scattered over five parks. (Eric, 1:58) • The prospective buyer failed to get financing, killing the deal the first time around. The deal looked deader'n a doornail. (Eric, 2:40) • The park went off the market for three or four months. But then the original prospective buyer came back with another deal. One advantage of doing business with those folks again was that they had already inspected he parks and had completed the bulk of their due diligence. However, Eric was naturally skeptical–and cautious–since that group had already brought them a soured deal. (Eric, 3:07) • Eric and the sellers proceeded cautiously, shortening timelines for due diligence and inspections since a lot of that work had already been done the first time around. It was still a slow grind, taking about 90 days to close, even with the buyers presenting an all–cash deal. (Eric, 3:47) • The availability of all of the park-owned homes also complicated the deal. They were hard to price. Twenty-eight of them were nearly new, having been bought new and installed in 2020. The final tally was that the homes sold to the park buyer at an average cost of about $22,000 each…a good price for the buyers. (Eric, 5:06) • With lots renting at close to $1,000 a month, the buyer was going to generate impressive cash flow and get back the purchase price in good time. The sellers had made over a million dollars in capital improvements to the homes, increasing the value of the entire portfolio. (Max, 6:06) • That included new HVAC units throughout the park, greatly increasing the portfolio worth. (Eric, 6:27) • The sellers' well-organized and complete books and records also helped make the deal possible. The seller also had the benefit of being able to get the best purchase price based on competitive rates and other pertinent data collected and provided by Max and his team. (Max, 7:00) • The bottom line is that, the more comprehensive the due diligence and financial information, the more the seller can get in the sale. Make the process easier for all parties, and you'll end up with more at closing. (Eric, 7:40) The Mobile Home Park Broker has tons of experience putting seller-friendly deals together–and saving deals when they fall through or feel at risk. If you're thinking of putting your park on the market, call Eric Wanck or Max Baker at The MHP Broker, (678) 932-0200 and we'll help you find a qualified buyer and an optimal sale price.You can also drop us a line at info@themhpbroker.com. Power Quotes in This Episode: "Whenever you get more people involved • (in a deal) , you typically might run into more issues. • (Eric, 1:58) • (On a first deal falling through.) "Hey, just because you don't make it go once doesn't mean you can't try to do it again." • (Eric, 2:40) • (After the first deal failed and the parks went off the market for an extended time) "We just kept a good relationship with the owner." • (Eric, 3:07) "When you drive around a mobile home park and you see a bunch of brand-new Trane HVAC units, literally on every single home, you're dealing with ownership that takes pride and wants to have a nice home for tenants." • (Eric, 6:27) "So it's very important to organize your books and records, because whenever we go to sell your community…it only adds more zeros to the bottom line. You know, simply because you're eliminating risk, and the less risky your asset is to an incoming operator, the higher the price naturally is what's going to happen." • (Max, 7:00) "The more comprehensive your due diligence and financial information is, the more money we can get for you. …It makes the process so much easier, both on your side and the buy side and getting to the closing table." • (Eric 7:40)

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