I am thinking about taking advantage of the low cap rate environment and selling my park in order to fund more acquisitions. There are a million pages on this site about buying parks, but not much on selling so I’m looking for suggestions from owners who have successfully used a broker and would refer to me. Even if you haven’t sold a park, I wouldn’t mind a reference for someone who has a good reputation in the industry.
Thank you.
What state are you in?
I live in FL. Park is in Alabama.
Glenn Esterson and Max Baker do a lot of business in AL. Those are probably your best bet for that region.
I may be interested in purchasing it.
I sent you a message.
Casey Thom - Sunstone MHC. They can at least give you a BOV and have something to compare against if you are considering a sale.
Thanks Jack, I will give them a shout. Is this someone you’ve worked with personally or someone you know of?
I love the aggressive nature of this forum…when the tide goes out I cant wait to see who isn’t wearing pants…yes, I know its different this time. I would love to give my capital to those who have been in the market for 2-3 years or studied RE at University and never experienced a recession because again, this time it will be different.
@Dominic730 Both, I had Casey underwrite a park we were thinking to sell. He treated me very well , very professional, very knowledgeable . The park was 600kish at the time. We didn’t do anything though with it. A year later we did bring a different park to market with him ( and his Sunstone team- I don’t think you can go wrong with anyone there I just primarily deal with Casey but I know most of them and they are great). The brokerage did their job on marketing ,the deal fell apart for reasons on the merit of the deal, but then I got sellers remorse but they had several other offers lined up I just realized I never want to sell anything ever … If something changed that would be my first call.
My opinion was the way I was treated on a 600k park that I didn’t even list with them, it might as well had been a 6M dollar park.
Additionally, I will add, I have referred park owners to Casey based on my personal experience and Casey has sold those deals. But the best part of it is that I have had the park owner come back to ME and Thank ME for the referral to him. That to me tells the whole story right there.
I have talked to other brokers with not great service or the park was too small, so when I encountered this , I thought I was stuck in an alternate universe and I think its important to refer out people that you feel have served you well.
Good luck!
Thanks again, I will be reaching out to them soon. It sounds like they’re a pretty good deal.