Looking for a solution - park owner does not want to sell out of fear of being “bored”

mobile home university
1

Greetings all -
Looking for some guidance on how to move the needle with a park owner who does not want to sell his park out of fear of being “bored” once he sells. This is a ~80-pad park in Wisconsin.

My first question to him was - “wouldn’t you like to just take your lump sum of cash and retire into the sunset?”, to which he replied “he is not looking to sit on the beach anytime soon”.

Next attempt was “hey what if we work out an arrangement where you would stay on as the park manager?”. Again…not interested.

So long story short, I have an opportunity to sit down with him next week to keep discussing, but I am at a loss for an idea to present him.

Any thoughts from the community on this? Perhaps someone on this forum has a regional management position that could be leveraged in order to move the needle with this owner?

Thanks!
Dustin

2

To your first question to him: Where he would he take his lump sum to make a return he’s gotten used to? I’d love to know myself. Second question on staying on as manager: I cant imagine putting up with tenants and NOT making the great income he’s used to. Id guess there are many like him but the alternative to owning doesn’t look as profitable. Maybe a 1031? Im guessing he hates paying the govt taxes also.

3

Maybe try to find him another park to buy with the lump sum so he can 1031 exchange it. It sounds like boredom is his main concern, so give him something else to do.