My partner and I have 250k to invest in to starter park (~$1mm of purchasing power). Basic criteria is: City Water/Sewer, <20% Vacancy, <20% POH, 8-12% CAP. (Feel free to advise if we are off base).
We both work full-time so we get to visit parks on the weekends. Over the last 6 months, we have seen a dozen MHPs within 3 hours of driving distance of north NJ, but not a ton that meet our criteria. I see so much more opportunities in the South/Mid-West that meet our criteria, but we are having a hard time engaging brokers as they don’t reply much after distributing the initial OM. How do I convince brokers we are serious for both listed properties and pocket listings. Also at what stage of the purchase should we fly to see the property?
We have scoured Loopnet, Craiglist, and Mobilehomeparkstore. Any other sourcing opportunities we are missing?
Thanks for your help!