MH Lead Generating Tactics


#1

I have posted ads in the local newspapers, have a referral program in place with park managers and posted ads in craigslist. Are there any other tactics I can use to get more motivated MH sellers?


#2

I have used direct mail postcards with good results. It’s basically my business card on a postcard - “Mobile Homes. Bought. Sold. Financed.” Drive around the park you want to target and write down all the addresses. If the park office has a map that will save you a LOT of time. I have the post cards printed at office max. For about $50-60 I can have about 800 postcards printed (stamps are the most expensive part of the whole deal). They print 4 postcards/page with an address mail-merge from an MSExcel file, cut to postcard size and even stamp them for me. I just pick them up and drop them off at the post office. Out of a mailing of about 400 I got about 100 postcards back (empty lots & such), got maybe 10 calls and bought 1 sweet deal. That was my first mailing ever. As I repeat to the same parks I expect the response to increase as my name becomes more familiar.

Michael(KCMO)


#3

Michael

Thanks for the information! I have been trying to get around the “No Solicitor” signs and at one time - got warned about soliciting by a MHP manager. I will try this tactic!

Thanks a bunch!

Jon


#4

Another question!

After the mailer is sent out and I get leads that are not Lonnie Deals - what do I do with motivated sellers with MH’s that are higher in price?


#5

Motivated sellers that are higher in price? I’m assuming by “higher in price” that it’s just at a price that you don’t have the cash to take advantage of. If it’s a motivated seller there ought to be some kind of deal that can be made.

Are there other investors in your area who would be interested in the lead and would pay you something for it? Is there an investor (money or active) who would be willing to partner w/ you? After negotiating a wholesale price could you get an option on it and advertise and “pre-sell” it before you have to close on it? Could you . . . could you . . . could you . . . ? I’m sure there are many other ideas I haven’t thought of yet.

Does that help?

Michael(KCMO)


#6

Motivated sellers that are higher in price? I’m assuming by “higher in price” that it’s just at a price that you don’t have the cash to take advantage of.

That is correct.

Are there other investors in your area who would be interested in the lead and would pay you something for it? Is there an investor (money or active) who would be willing to partner w/ you? After negotiating a wholesale price could you get an option on it and advertise and “pre-sell” it before you have to close on it? Could you . . . could you . . . could you . . . ? I’m sure there are many other ideas I haven’t thought of yet.

I was aware of doing referrals (sending them to someone else). As for the other ideas you suggested - I need more education on doing pre-sell, options and wholesale.

Could I?? Of course!!! This is great information! I can advertise at my local REI Clubs too!

I have motivated buyers lined up. Now I just need a seller and a note buyer. And if its out of my price range - as you suggested - option - pre-sale - wholesale - referral to another investor and etc!

Does that help?

Absolutely and thanks again! And when the deals go through, I’ll say “Peeeerrfect” like Corey!


#7

Hi Michael,

Just read about your direct mail campaign. Sounds good. I did a direct mail campaign. Received a few calls and potential leads. Had title issues w/them, though. So, no deals yet.

How many parks did you direct mail to? Was it just 1 park? Or, your favorites?

I’m thinking direct mail the ones that are easy for me to work with the park managers. I’ve been to a few parks where I’m competing directly with the parks for “Lonnie” deals. The park managers allow me to work deals there but are not as receptive as other parks where the park manager is just concerned with filling lots and receiving lot rents.

Any insight you have would help. Thanks!

-Rachel


#8

How many parks did you direct mail to? Was it just 1 park? Or, your favorites?

I mailed to 3 or 4 parks that I was interested in working in. At the time I was expanding my area in preparation of quitting my job and going full-time mh.

I’ve been to a few parks where I’m competing directly with the parks for “Lonnie” deals. The park managers allow me to work deals there but are not as receptive as other parks where the park manager is just concerned with filling lots and receiving lot rents.

Any insight you have would help.

My strategy now is this: I have some parks that want to cooperate with me. Others do not. The ones that don’t, or won’t make it worth my while are resources for nice homes that can be moved.

In my market I have a few cash buyers. 95% of the people with cash, though, also have a lot somewhere they want to move it to - a lake lot or farm property. I’ve had to turn away cash buyers b/c I have an agreement with my cooperating parks that I won’t pull homes out. By having homes available in uncooperative parks I will now have something for these cash buyers to buy. It’s these uncooperative parks where I will be concentrating my next few mailings.

I don’t want to be totally dependent on cash buyers, though. So the other side of this strategy is that these are nice homes that I can move into my cooperative parks if a cash buyer doesn’t snap them up quickly enough. By filling up some empty lots for these parks I will have more leverage to negotiate other win-win perks such as: I don’t want to pay lot rent on ANY home I have in that park, even if it was already there when I bought it. In the end the money I save on lot rent on my inventory may be eat up by the move cost of moving a few homes around, but I’ll be able to increase my volume without spending any more overall - it’ll be a wash. This doesn’t even consider the goodwill created by helping an owner/manager fill spaces.

So to answer your question, find a park that is willing to let you do what you want to do w/o competing against you. As you do a couple deals and your rapport grows their willingness to HELP (as opposed to merely “allow”) should grow also. I know of at least one investor who’s pet park has a large dealership right there in the park. They only deal in new homes, though, so their high prices make him look like a hero to buyers. Personally, and especially to start out, I wouldn’t want to compete head-to-head, not when there are plenty of opportunities where you don’t need to.

Regards,

Michael(KCMO)


#9

Thanks, Michael. Definitely helps. Interesting twist with the dealership in the park. Never thought of it that way. Already been to a few parks with those dealerships there. You’re right, there are plenty of opportunities in this business. Think I’ll stick to the parks with less competition. Appreciate your input!

-Rachel