When the commercial real estate prices are on the rise, it’s always tempting to sell. But should you sell your mobile home park? If you’ve been on the fence, now may be the time. Here are some reasons for selling your manufactured housing community.
It’s Time for Retirement
You had a good and profitable run with the mobile home park. You may be getting on in years and you just don’t want to spend as much time dealing with problems at the park. You want to spend your time enjoying the things you have worked for.
It’s Good to Focus
You have various types of investment and businesses and you happen to also own a mobile home park. You got in to MHP and it was a decent deal. You, however, want to focus more on your core business and mobile home park management is taking you away from it.
It needs Lot of Work
The mobile home park needs significant improvements. Issues could be related to tenant basis, management, utilities, etc. Whatever the issue is, it will take a lot of time, money, and headache to fix it. Instead of wrestling with the issue, it may be more practical to find a new owner who is ready, willing, and able to tackle the problem.
It’s Your Parents/Grandparents/Spouses’ Project
Your parents/grandparents/ex-spouse built the mobile home park. Now you own the park, but you are a dentist living 100 miles from it. You don’t share the same passion about the property. It’s not where you want to spend your time.
It’s Not What You Thought
You’ve purchased the mobile home park because someone painted an incorrect picture of owning a mobile home park. Managing the park is taking a lot more of your time and effort.
You Need Cash
You need to the money for an out-of-ordinary event in your life. It could be bankruptcy, divorce, health issue, buying a home, starting a business, sending a kid to college, moving to a new country, etc.
Your Bank Owns it
The bank you work for took back the mobile home park because the borrower defaulted on it. Now you are told that you have to get rid of it because the bank is not in the property management business.
Selling a Park? Contact us.
No matter the reason, if you are considering selling your mobile home park, we want to talk to you to see if we can buy your property. Please contact us at 415-935-1433, or submit a mobile home park information for sale here.
Sell Your Mobile Home Park
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